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Twitter, Dwitter or Sitter

I just did what most people think is crazy.  I flew up and back to the west coast in a 24 hour jaunt.<div><br /></div><div>Why?  Well, I went to a <span class=”blsp-spelling-error” id=”SPELLING_ERROR_0″>pre</span>-convention meet up of Geeks, Real Estate and Mortgage people in a geeky love fest.</div><div><br /></div><div>People with all kinds of gadgets, ideas and desire for vacationing alcoholic beverages <span class=”blsp-spelling-corrected” id=”SPELLING_ERROR_1″>descended</span> on a small, very old building west of downtown San Francisco.</div><div><br /></div><div>The event was labeled at <a href=”http://www.rebarcamp.com/”><span class=”blsp-spelling-error” id=”SPELLING_ERROR_2″>Rebarcamp</span>!</a>  It was the preamble to the <span class=”blsp-spelling-error” id=”SPELLING_ERROR_3″>Inman</span> Real Estate Conference.</div><div><br /></div><div>What I discovered was that there are so many ideas, web sites, blogs, social networking, mapping and widgets...

Find the value of your property for free!

<iframe src=”http://weblink.eppraisal.com/index.aspx?wlid=2c4e1b9534fd48cb83ba0ef88916450d” style=”width: 100%; height: 100%” scrolling=”yes” marginwidth=”0″ marginheight=”0″ frameborder=”0″ vspace=”0″ hspace=”0″ ></iframe> Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

Cracking down on mortgage scammers

he Justice Department is going after real estate fraud. The 400-plus people charged nationwide racked up $1 billion in losses. Here’s what they are finding.<br /><br /><br />NEW YORK (CNNMoney.com) — While Congress and the Bush administration are focusing on bailing out struggling homeowners and financial companies, another group of federal officials are going after the people who helped propel the country into the mortgage crisis.<br /><br />The FBI’s Mortgage Fraud Task Force, which works with federal, state and local law enforcement officials across the United States, has ramped up its work. Its targets: mortgage brokers, lenders, appraisers and professionals who defraud homeowners and bankers.<br /><br />A federal grand...

The new $7500 tax credit, the good, bad and ugly.

The new tax credit on the surface seems good. But, the devil is in the details. Make sure you understand it.<br /><br />You have to come out of pocket for your down payment still. Good news is that there are still 3% down programs depending on your income and the place you buy a home.<br /><br />You then get a credit against your income taxes due, not a deduction, so that is good news! You can then (for this year) change your exemptions to take home more money because you will not own the government next April as much.<br /><br />Be careful of the income limitations and the phase...

Welcome to HELOC Hell!

Let’s see…..Nat City, Chase, Citi, etc were offering HELOCs like there was no tomorrow. Prime minus X was a norm. If your value went up, we’d be happy to rewrite your loan and give you more.<br /><br />Now…..remember that great idea we gave you? Plan for your kids college education. Use the credit line to slowly pay out college fees and just pay interest only on the money you use and pay interest only when you want!<br /><br />And values of property. The only time that was an issue is when you bought, sold or refinanced.<br /><br />Now, all of a sudden even though your 750 credit score has...

On the House: Mortgage landscape has shifted

On March 15, 1994, Fannie Mae announced with great fanfare a $1 trillion initiative to create 10 million more homeowners in six years.<br /><br />Six years later, in 2000, Fannie Mae announced that the 1994 initiative had succeeded and that $2 trillion would be committed to add 18 million homeowners to the 10.6 million the first program had created.<br /><br />Don’t bet the farm on a similar announcement anytime soon. Fannie Mae and Freddie Mac are in big trouble, and, from what I’m told, even if they avoid a federal takeover that shifts the burden of paying for their mistakes to taxpayers, the era of “Hey, buddy, need a...

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