Higher prices, higher rates, slowing sales, and now easing loan guidelines? On non-owner-occupied properties? Buying a rental property with 5% down is unheard of, and even with higher rents they are likely to negative cash flow: Freddie Mac is consolidating its Home...
Matt Taibbi has a good summary of the mortgage crisis here: https://www.rollingstone.com/politics/politics-features/financial-crisis-ten-year-anniversary-723798/ An excerpt: Restoring compensation levels was one of the first and most urgent priorities of the bailout....
Do you want to use the equity from your current home to purchase your next home? How to access those funds is a common dilemma, because no one really wants to sell their current home unless they have their next home lined up. Making an offer to purchase a home that is...
Nick at the WSJ has a good piece on the Tan Man - with one of Angelo's emails from three years prior to the Countrywide failure and fire-sale to BofA: An excerpt from an old article: Mister Mozilo, a mortgage industry maverick who co-founded Countrywide in 1969, and...
Freddie Mac's underwriting also allows self-employed buyers to submit tax returns for one year only, instead of the customary two years' tax returns. I'm not sure if they will do that on this new program? It’s been more than three years since Freddie...
There was a snafu in the rush to sign the tax reform bill: "The Senate parliamentarian determined two minor provisions do not have budgetary impacts and had to be removed from the bill," the representative told Business Insider. "The Senate will still vote tonight,...
Here we have three different real-estate-industry opinions on the effects of the final tax reform. 1) The demand will increase due to more spendable income, pushing home prices higher; 2) The demand will drop, due to less spendable income because middle-class...
It's now been widely reported - and Rob Dawg agrees - that Congress did not change the two-out-of-five-year requirement for home sellers to receive up to $500,000 in net proceeds, tax-free. The only two changes in the final tax reform bill are 1) Lowering the mortgage...
Congress is expected to vote on the final version of the Tax Reform Bill next week. The terms being bandied about: The mortgage-interest deduction will remain, but only for loans up to $750,000 for future buyers, instead of $1,000,000. State and local income and...
With the new Fed transparency, these rate hikes are telegraphed well in advance now and priced in by the market. Free enterprise is working - the competition between Chase, Wells Fargo, and Bank of America is keeping rates in check. BofA is quoting 3.875% and no...
