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Do You Know Your 3 Cs?

Posted On: 02/17/2016
QUESTION: We spoke with a loan officer who said our mortgage application would be a success because we did well with “the three Cs.” This is code to us. What are the three Cs? ANSWER: Every business has shortcuts and that’s true with lending. Some lenders will tell you...

Tight Credit in Rearview Mirror?

Posted On: 02/10/2016
Question: Mortgage rates are under 4 percent and we would like to refinance before they rise, something we think will happen in 2016 because of the Federal Reserve’s expected hikes. What can we do to get past tight credit standards? Answer: According to the Office of the Comptroller of...

Bullish on Buying?

Posted On: 02/03/2016
Question: Real estate values in our area increased strongly in 2015 and are predicted to go up this year, too. Doesn’t this mean that now is the time to buy, before prices go higher still? Answer: The future remains a mystery, despite the best efforts of economists and soothsayers to...

Move In With Mom and Dad?

Posted On: 01/27/2016
Question: Our parents are in the process of retiring to a new location. I’d like to join them, but I’m finding that despite a good education and training I have not been able to advance in my field because of widespread layoffs. I know it’s not “cool,” but...

Will An Addition Add Value?

Posted On: 01/20/2016
QUESTION: We own a 1,700-square-foot home, which has been completely redone. We are considering putting a small casita (one room with small bathroom, shower and kitchenette) in the backyard. Is this a smart investment? We got a bid for around $10,000 to do the project and want to know if this...

How to Be A Lender

Posted On: 01/13/2016
QUESTION: I’m selling a house and want to take-back financing from a residential buyer. This makes me a lender. As a “lender,” do I need a license and must I meet the Dodd-Frank standards? ANSWER: According to the Consumer Financial Protection Bureau, a “loan...

Am I Hurting My Ability to Borrow?

Posted On: 01/06/2016
QUESTION: What will happen with mortgage rates now that the Federal Reserve has raised interest rates for banks? ANSWER: Student loans are a big lender concern and with good reason. First, a lot of student debt is outstanding. Second, a lot of student debt is not being repaid. Third,...

Training Pay

Posted On: 12/30/2015
QUESTION: I’ve just completed my training to obtain a real estate license and passed the state test. I can hang my license with a referral company and keep virtually all the commissions I earn, however, they do not offer training and support. The other option is to go with a local...

What Do Rising Rates Mean?

Posted On: 12/23/2015
QUESTION: What will happen with mortgage rates now that the Federal Reserve has raised interest rates for banks? ANSWER: It’s surely not much of a raise, just 0.25 percent, but it’s important for mortgage borrowers. To understand why let’s look at what the Fed...

Turned Down for Loan. Now What?

Posted On: 12/16/2015
QUESTION: We recently applied for a mortgage and were turned down. How can we buy a home if lenders won’t give us a chance? What can we do to get financing? ANSWER: “Lenders” didn’t turn you down; just one lender said “no,” and that lender may simply...
Join our Real Estate Newsletter - includes great tips and articles on the latest real-estate trends, plus lists upcoming real-estate training opportunities, clubs, or networking events.
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