Make an intrafamily loan For many parents, gifting the money (or property) outright is not the best course of action, whether due to complicated family dynamics or because such a gift would push them over the lifetime gift and estate tax exemption. At the same time, a traditional mortgage may be undesirable or inaccessible for […]
What is a database? A database is a collection of information. Any form on a piece of paper that’s collected, name address phone number, creates a database. Access Beginner 1 The Absolute Beginners Guide to Microsoft Access S M L XL FS | Slo Reg Fast 2x | Bookmark Start Here! Access Beginner Level 1 is the perfect starting place for anyone who needs to learn the basics […]
Legal Case Summaries Unlicensed Activity Results in Real Estate Licenses Being Revoked Unlicensed brokerage employee offered lease-to-own agreements and brokerage failed to maintain specialized mobile home license. July 15, 2024 Being a Broker, Risk Management, Lease-Option Purchases, Property Management, Rental Properties, Legal Takeaways Review state and local license requirements, especially if engaged in specialized practice. Consider implementing policies that ensure […]
Lease-Option Purchases References Quick Takeaways “A lease option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property at a specified price. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.” […]
I have done lease options for over 40 years and that’s a long time. I learned about options in general from the book “Nothing Down” with Robert G Allen. It was the mid-80s and interest rates were high and I learned a lot about seller financing and wraparound mortgages because the interest rates were so […]
Originating and Underwriting Learning Center Everything you need to know to assist in originating and underwriting loans for sale to Fannie Mae This Learning Center page provides resources and training on originating & underwriting loans, Fannie Mae’s underwriting applications, and best practices to help you get the most out of Fannie Mae mortgage products, the Selling […]
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How I set my fees with least purchase consulting I’m going to presume that you want to be a lease purchase consultant and that’s all you want to do, If you’re in a state California or New York that has pretty strict regulations you might want to get licensed to sell or lease real estate. […]
To find an FHA license mortgage origination underwriter: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist Standard mortgage application for borrowing money for an FHA mortgage https://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-residential-loan-application NMLS NMLS Consumer Access https://mortgage.nationwidelicensingsystem.org/about/sitepages/NMLSConsumerAccess.aspx About the NMLS https://mortgage.nationwidelicensingsystem.org/about/SitePages/default.aspx CFPB Loan Origination https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/loan-origination-rule/ CFPB Ability to Repay https://www.consumerfinance.gov/rules-policy/final-rules/ability-to-pay-qualified-mortgage-rule/ CFPB Buying a House (for consumers) https://www.consumerfinance.gov/owning-a-home/
Courtesy of www.Nolo.com State Laws on Security Deposit Limits More than half of the states put a limit on how much landlords can charge for a security deposit. By Ann O’Connell, Attorney ● UC Berkeley School of Law Updated 4/11/2024 Most states set a limit on the amount of security deposit landlords can charge. If your state has a […]