Brett 's Blog

A customer called me.  I've made several loans for him over the years.  He's been a fairly successful guy over the years, but like many, he's fallen on hard times.  He currently doesn't own a home, having short sold a few years ago after nearly suffering a divorce.  He's been a small sub-contract...

Mortgage insurance is viewed nearly universally as a bad thing, but in reality, it's a tool to be used that can be very good for home buyers, the housing market and the economy in general. Why do many complain about mortgage insurance?  Because its expensive, and sometimes difficult to get rid of...

The Small Business Saturday promotion is a great one that's going on today.  Your local small business is run by your neighbors, family and friends.  They spend their profits and wages in your local economy.  They employ your neighbors, who spend their pay in your local economy.  Oftentimes, they...

Yesterday, the National Association of Realtors announced that home purchases rose 1.4%, beating economic forecasters estimates for the month.  Is this a sign of good things to come?  Affordability is at record levels.  Lower prices, and low interest rates have created opportunity for homebuyers ...

This is good advice on Short Sales from a good agent I know in the area.  Short Sales get some buyers pretty excited, but there are a few things every buyer needs to know.  Great job on the post Shar, and thanks for letting us share it!If you'd like to purchase a Short Sale in today's market, it ...

Here's another idea on how to fix the market with little added risk to lenders and investors: Some investors won't allow qualified buyers of retirement age to use their nest egg to qualify for a home loan. Today, I'm talking with a gentleman with outstanding credit, fantastic liquid assets (cash)...

So, we all have an opinion about what can be done to fix the market.  Several opinions, actually.  I think of random ideas at various times, and lucky you, you get to hear the one that just popped into my head! Some entity should make it easier for investors to purchase single family residences. ...

The news this morning is that if things keep going as they are, the FHA insurance funds could run out by the end of 2012.  Hmmm....What could have been done different?  Earlier in the year, HUD instituted higher monthly mortgage insurance premiums on FHA.  REALLY high ones.  But if their goal was...

Most people think closing is when they sign their closing documents.  In our state, and in many states, that's not how it works.  Closing is when escrow can make the sellers funds available to them and the ownership rights available to the new buyer.  Have all the terms of the purchase and sale a...

So - I've commented on this before, but it really bothers me.  I have another appraisal, this time completed by an MAI/SRA that substantiates depreciation in values based on faulty data. When I took appraisal classes, the only acceptable adjustments to the comparable sales were based on a "matche...