Getting A Mortgage

By massimo dau

 Free No Money Down Creative Financing Home Real Estate Investment Course. This course teaches you to Buy houses with Absolutely Nothing Down! Even get Cash back at close of escrow! Cash back! No Down Payment at all! Learn to make money in real estate– Learn to find No Money Down Loans for Creative Financing and No Down financing. No job? No Credit? No Problem! These are the same creative financing and no down secrets for which others have paid thousands and made fortunes. They are now yours and they are free.

FREE NO DOWN AND CREATIVE FINANCING REAL ESTATE TECHNIQUES

It’s true that creative financing and nothing down real estate courses and books are available everywhere– But those courses and books are not cheap and they certainly aren’t Free! The truly effective no money down techniques usually are closely guarded secrets that are revealed only after you have paid hundreds or even thousands of dollars. Even then, they usually consist of information that is mostly outdated or unusable in the real world. The no down real estate financing techniques and information that follows in this real estate course, is real, it’s workable, and it’s free.

Why am I giving away all of this information? For a number of reasons…

1. I’m a nice guy! Well maybe that’s not the main reason, but it’s part of it.

2. Hopefully, if you need help financing a deal (No Down or otherwise), you will use our loan company or one of our other affiliates for your real estate financing needs. They have ALL First time buyer programs– All No Money Down Programs– Stated Income which means No Job, No Income, No Problem, provided you have reasonable credit– have questionable credit? They have programs for that too. As a Nationwide lender, we deal with volume that gives options that other lenders just don’t have.

3. If you get into an especially complicated transaction, maybe you will use our Consultation Services.

So you see, I haven’t really given all of this to you with no hope of some return, but whether you EVER, use any of our services, the information is Here– it’s Yours. And it’s And it’s free. Please, don’t make the age old mistake of thinking “you get what you pay for”. I promise you, there is as much and more usable information on creative financing and no down techniques in these pages than courses that I’ve personally examined that have sold for over $500. There’s a lot of valuable information here. Use it.

In explaining these various real estate financing methods, I am condensing a tremendous amount of information into limited space. In doing so, I may, at times, inadvertently use a term or phrase that is unfamiliar to you. If this happens and I have not explained it fully somewhere in this section, don’t hesitate to call a local real estate agent or escrow company. I assure you, they will be more than happy to explain it to you fully; the agent because he will hope to make a sale and the escrow company because they hope you will open the escrow with them. My goal in writing this is not to give you a complete detailed education in real estate law and phraseology. Laws and phrases vary from state to state, but principles are universal. Rather, my goal is to teach you the nuts and bolts concepts that you are going to need to evaluate a property, and to make the best decision as to which financing method to use. On occasion, while giving actual examples of how a certain method was used, I may allude to a principle that although, not explained as a financing method, is nevertheless of such importance that I feel you should etch it firmly in your memory. Any information that fits into that category will be printed in bold. So, if something is printed in bold, pay special attention.

I Introduction to No Down

II No Cash Down

III Borrow Against Asset

IV Selling Money

V Absolutely No Down

VI Formal Assumption

VII Subject To Assumption

VIII Assume & Seller Carry

IX Wrap Around

X No Job & No Money

XI No Down & Cash Back

XII Get Creative

XIII Closing Costs

XIV Finding Properties

XV Apply What You Know

Click here to read more on creative.
Courtesy of: Links Creator

Real Estate

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By Roberto Garabell

 The regulatory solution proposed herein is simple, yet far reaching. It comes in two parts, the first is to limit the amount lenders can loan to borrowers with a rather unique enforcement mechanism, and the second is to increase the penalties for borrowers who commit mortgage fraud. The following is not in legalese, but it contains the conceptual framework of potential legislation that could be enacted on the state and/or federal level. A detailed discussion of the text follows:

Loans for the purchase or refinance of residential real estate secured by a mortgage and recorded in the public record are limited by the following parameters based on the borrower’s documented income and general indebtedness and the appraised value of the property at the time of sale or refinance:

1. All payments must be calculated based on a 30-year fixed-rate conventionally-amortizing mortgage regardless of the loan program used. Negative amortization is not permitted.

2. The total debt-to-income ratio for the mortgage loan payment, taxes and insurance cannot exceed 28% of a borrower’s gross income.

3. The total debt-to-income of all debt obligations cannot exceed 36% of a borrower’s gross income.

4. The combined-loan-to-value of mortgage indebtedness cannot exceed 90% of the appraised value of the property or the purchase price, whichever value is smaller except in specially sanctioned government programs.

Any sums loaned in excess of these parameters do not need to be repaid by the borrower and no contractual provision is permitted that can be interpreted as limiting the borrower’s right to exercise this right, make the loan callable or otherwise abridge the mortgage agreement.

This last statement is the most critical. This is how the enforcement problem can be overcome. Regulators are pressured not to enforce laws when times are good, and decried for their lack of oversight when times are bad. If the oversight function becomes a potential civil matter policed by the borrowers themselves, the lenders know exactly what their risks and potential damages are. Any lender foolish enough to make a loan outside of the parameters would not need to fear the wrath of regulators, they would need to fear the civil lawsuits brought by borrowers eager to get out of their contractual obligations. If any borrower could obtain debt forgiveness by simply proving their lender exceeded these guidelines based on the loan documents, no lender would do this, and regulatory oversight would be practically unnecessary.

One key to making this work is to prohibit lenders from introducing a “poison pill” to the loan documents that would make borrowers hesitant to bring suit, otherwise lenders would make their loan callable in the event of a legal challenge forcing the borrower to refinance or sell the property. Basically, if the borrower brought suit and won, they would see principal reduction equal to the deviation from the standards, if they brought suit and lost, they would have no penalty. Most of these cases would be decided by summary judgment based on a review of the loan documents thus minimizing court costs.

The result of these restrictions will be that all homeowners will have at least 10% equity in their properties unless they have borrowed from a government program like the FHA where the combined-loan-to-value can exceed the limits. This equity cushion would buffer lenders from predatory borrowing and a huge increase in foreclosures if prices were to decline. Home equity in the United States has been declining since the mid 1980s, and it actually declined while prices rose during the Great Housing Bubble due to the rampant equity extraction. The lack of an equity cushion exacerbated the foreclosure problem as many homeowners who owed more on their mortgage than the house was worth simply stopped making payments and allowed the house to fall into foreclosure.

Lawrence Roberts is the author of The Great Housing Bubble: Why Did House Prices Fall?

Learn more and get FREE eBooks at: http://www.thegreathousingbubble.com/

Read the author’s daily dispatches at The Irvine Housing Blog: http://www.irvinehousingblog.com/ Visit Regulatory Solutions to Prevent the Next Housing Bubble.

Real Estate

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