» MLS Real Estate Listings Available to Everyone Now! » Posted by Realestator
Buyers and Sellers alike are one step closer to having access to all MLS Real Estate Listings. More than 800 MLS’ (Multiple Listing Services) nationwide will be instructed to open their database to all Real Estate Brokers, traditional and online. For years, many Internet based brokers have accused the National Association of Realtors (NAR) of unfair competition by locking them out of the database. More home buyers use the Internet for their searches than for sale signs. By allowing all buyers to see all listings, true competition between real estate brokers can take place. Online brokers have been offering fee for service type commission models for years to their seller clients, Read More
» How Investors with Properties in LLC’s Can Deal with Freddie Mac Changes » Posted by Realestator
A couple of days ago it was reported that Freddie Mac will not refinance a property that has been held in an LLC at any time in the previous 6 months. Fannie Mae is expected to follow suit. And of course, this may require your lender to do the same. While it’s frustrating for those of us who invest in a responsible manner and in no way caused this mortgage debacle, we are now having to sit back and accept policy from a government backed organization that basically paints all of us with the same brush. However, don’t panic. All real estate investors have some options. They are: Unless you have an ARM that really needs to be refinanced, you can leave the property where it Read More
» Real Estate Investors with LLC’s Receive Another Blow! » Posted by Realestator
Fresh on the heels of yesterday’s news that Fannie Mae is relaxing down payment requirements to owner occupied purchasers only, Real Estate Investors with LLC’s are now taking a hit as well. Here’s what has happened: Freddie Mac has just changed their rules to NOT allow refinances if the property has been in an LLC at any time for the past 6 months. Fannie Mae is expected to follow suit. If you have your property in an LLC, you have a few choices: Leave it in there until you sell and realize you probably won’t be able to refinance. Pull it out of the LLC and lose all liability protection. Use a Trust / LLC envelope to protect Read More
» Fannie Mae News - Down Payment Requirements Relaxed » Posted by Realestator
Fannie Mae in the News today, announcing a new national policy on relaxing down payment requirements for conventional mortgages. Reversing their previous requirements that were implemented in December of 2007, now they will consider lending to borrowers with as little as 3-5% down payments. This reversal in policy is part of their “Keys to Recovery” program. Marianne Sullivan, Senior Vice President, Single-Family Credit Policy and Risk Management, said, “This new down payment policy reinforces our goal to support successful home-owning, not just home-buying, as we seek to bring liquidity to all communities and help the housing market recover.” This Fannie Mae Read More
» 8 Actions to Take with Potential Real Estate Scam Artists! » Posted by Realestator
Lately, everytime I read the news, I’m seeing a story about another case of Real Estate Fraud. - Investor kills his partner to cover up trying to have a non-existent person buy their investment property when the bank got wise - Couple makes offers on $4 million dollar homes with fake checks and i.d.’s These are just a couple of the stories I have seen in the last three days! It makes you realize that if you are going to be investing with partners, or if you will be buying or selling property directly from another individual, then you’ll need some Techniques to avoid endangering yourself or being in the middle of a Real Estate Scam. 1. Always Ask for I.D. I use this Read More
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