Cash is King

Please bear in mind, while that cash greased the skids of the initial transaction, getting that money back out will entail all the minutiae of any mortgage loan. Buying a home with cash does not prove you are solvent and are an excellent risk to a lender! If you are planning on doing a delayed mortgage deal and have the expectation that it is just a deposit and withdrawal equation, it is not. You are still subject to provision of all documentation and processes.

When is a Bedroom Not a Bedroom?

The “existence of a closet” has always been the amenity Realtors reference. However, a listing agent recently had a home on the market as a 4/2/2. It was correctly assessed as a 3/2/2 at time of appraisal. And it wasn’t the closet in question in the fourth bedroom…it was the proximity of a bathroom.

How “Not” to Get the Short End of the Short Sale

The short sale process as we know it today is far more systematized than it was when these transactions began in earnest several years ago. The lenders in particular have gotten better in dealing with them. Overall, in addition to the Realtors who are becoming short sale certified, the other major players are getting in the game:

Thank You Santa!

What happened this time was the nose dive of my hard drive – although it was the one where I keep all my non-confidential data…gone were my go-to docs, my cheat sheets, form letters and computation spreadsheets. Or at least they could have been had they not be safe and secure beyond the world of cantankerous hardware and destructive software viruses. I take my business seriously and to tell the truth I sleep better at night knowing all my family’s pictures and all my data is protected. So while I am able to go out and save the world one mortgage at a time; Mozy is also on the job saving one database at a time.

At the end of the day, there’s nothing like a contingency plan.