Home buyers typically sign buyer broker agreements with their real estate brokers / agents before writing a purchase agreement. The buyer broker agreements spell out precisely who represents the buyer. It’s also known as buyer representation. There are a huge variety of buyer broker agreements used throughout the United States. For simplicity, I will review the [...]
Discount mortgages are a type of mortgage product that have a variable interest rate which moves roughly in line with the lender’s Standard Variable Rate (SVR).
The discounted interest rates attached to discount mortgages are genuine and will normally apply for a set period of between one to five years. The discounted interest rate is designed [...]
Robert Lee of Foreclosure Trackers suggests that purchase of discounted notes can help foreclosure victims. Lee and his partner David Phelps founded Foreclosure Trackers. Where politicians and bankers have failed, the duo has found a solution to the challenge. They are turning the dismal situation into an opportunity.
The purchase of defaulted mortgages at a reduced discount will enable [...]
Points are dollars you pay as a percentage of your loan. A common use for points is to secure a lower interest rate on your loan. By paying a little bit up front, points allow you to pay less each month. Is it worth it? Let’s find out.
How Points Work
A point is one percent of [...]
Mortgage notes are loans which are created when a home is sold. Private mortgage notes are funded by a home seller rather than a bank or lending institution. They are also known as cash flow notes, seller financed notes, owner financed notes or seller carry-back notes.
Why Would a Private Mortgage Note be Created?
There are many [...]
Discount Off What?:
The phrase “discount real estate commissions” implies that there is a standard commission from which one can discount. All real estate commissions are, and always have been, negotiable.Though certain commission percentages are mentioned frequently in the media as being “standard”, the consumer has always had the ability to negotiate the commission with potential [...]
It is a repeat pattern each year that Americans carry a mortgage on a home that they are selling. Each and every year, the same question is asked ” How can I sell my mortgage note and get the cash I need?” The following may help you when you have mortgage notes for sale.
It happens to [...]
The longer I work as a real estate broker, the more I am convinced that my profession should do a better job of educating the public about agents and brokers. Few home buyers and sellers seem to really understand how real estate agents work, or how to follow protocol, who pays us and why we do [...]
Buying Points to Lower Your Interest Rate, It’s Not Always a Good Idea
Discount points are fees paid to a lender at closing in order to lower your mortgage interest rate. While buying points is sometimes a good decision, many times the purchase costs you more than it saves.
How Much Do Points Cost?
The cost of each [...]
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois.
The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 [...]