Questions Can a person without a real estate license sign on a broker’s trust fund?According to DRE which is a more serious violation in a trust fund? Conversion or Commingling?Many people have paid off their California houses. What percentage do you think have mortgages on their homes now?A person leases a furnished apartment for one […]
Inter-County Previously I discussed Prop 60 where a homeowner could sell a home and under certain conditions, keep their low tax assessment in the same county. This was passed in 1986. As always California taxpayers were not satisfied, they wanted to be able to sell and move to another county with their low assessment. In 1988 […]
Tax Base Transfer Proposition 60 pertains to a regulation passed in California in 1986. It pertains to someone over the age of 55 who sells a house that has a comparatively low tax assessment to the current fair market value. This is due to the restrictions placed on property tax increases by Prop 13. The homeowner […]
Acquiring Date In its fifth year, FHA’s policy of requiring the financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by over three quarters and serious defaults by over two-thirds. This article by New View Advisors quotes Ginnie Mae data, they state, “We grade Financial Assessment’s performance as a solid […]
Informative Article Another informative article for you and your clients. Read it, understand it and relay the facts to your clients. While you are on this website, check out all the other information. The site is FHA Refinance Loan Facts You Need To Know.
Disintermediation: “This is the relatively sudden withdrawal of substantial sums of money from savings and loans, banks, etc.” It could be an interesting number to watch in the coming months. Disintermediation occurs when inflation rates are high and bank interest rates are stagnant. The depositors believe that they can get better returns by investing in […]
Outstanding Source of Material – The Internal Revenue Service This URL should be in your special group; irs.gov. I use it all the time. In the recent past I have visited the site for information on Equity Sharing, Mandatory Distribution of IRA’s, Standard Deduction, 1031 Exchange, 2018 Changes, Tax Rates, Passive Losses, Residence Gain Exclusion, […]
Many People In Real Estate And Banking Have Extremely Poor Views Of The Consumer Financial Protection Bureau Too expensive, too regulatory, waste of taxpayer money. As most of you know, it was a product of the Dodd Frank Act. However, they have recently produced some great source materials for everyone, especially for young people starting […]
Peter Boutell: Columnist – Santa Ana Sentinel; Owner: Santa Cruz Home Finance, Santa Cruz; DGS MLO Student Impound Accounts Impound accounts are sometimes referred to as “escrow” accounts and refer to the funds that are held on the borrower’s behalf as a part of the lender’s service. A borrower is said to have an impound […]
Dennis Smith: Author, Chef, Financier; Co-Owner/Broker at Stratis Financial, Huntington Beach; MLO Student Question of the Week Why is mortgage insurance a good thing? Answer Last week in the Weekly Rate & Mortgage Update we discussed if home buyers should wait until they have 20% for down payment before purchasing (you can read the WR&MU, […]
