real estate investment information

Real Estate Investing Books and Courses Find Out Which Real Estate Investing Courses Will Really Make You Money! Read (and Write!) Amazon-style Reviews Of The Most Popular Real Estate Investing Courses & Real Estate Investing Seminars & Speakers. Home Page Real Estate Courses Latest Reviews Site Map Contact Us For A Limited Time... Subscribe To Our Newletter and Get Our... 7 Day E-Course "The Top 5 Mistakes All Investors Make And How You Can Avoid Them" Retail Value of $29.99 - yours absolutely FREE! Name : Email : Best Sellers November 2005 Apartment House Riches By David Lindahl Real Estate Investor Business Plan By Steve Cook Quick Cash Quick Turning Houses By Chuck Smith Texas Houses For Pennies II By Darius Barazandeh Borrowing Millions From Private Lenders By Alex Gurevich What's New Motivated Seller Magnet By Ben Innes-Ker What's New How To Create A Bullet Proof Corporation By Bill Bronchick What's New Alternative Real Estate Financing By Bill Bronchick What's New Apartment House Riches By David Lindahl Best Seller Subject To Is What I Do By John "Cash" Locke Best Seller Deals On Wheels By Lonnie Scruggs Best Seller Ugly House Workshop DVD By Steve Cook Best Seller Quick Turning Houses For Amazing Profits By Chuck Smith Swap links with us! Click here if you own a real estate web site and you'd like to join our reciprocal link program and get more traffic. We are currently only linking to real estate related websites. If your website is not real estate related please don't link to us. Real Estate Investing Site Map Real Estate Investing Courses | Latest Reviews A.D. Kessler A.D. Kessler is the publisher of "Creative Real Estate Magazine" and other real estate investing products and programs. Al Aiello Albert "Al" Aiello is a CPA and has written several tax courses for real estate investors. Alex Gurevich Alex Gurevich sells real estate investment information products on how to raise and use private money, and how to "Super Charge" your cash flow. Alan Cowgill Allen Cowgill is the author of a course on how to raise private money to fund your real estate investment deals. Barney Zick Bernard "Barney" Zick has written 19 home study courses about creative real estate investing. He is also the author of a negotiation book called "The Negotiating Paradox." Barry Grimes Barry Grimes has written a creative real estate investment eBook called "Real Estate Jobbing 101." Ben Innes-Ker Ben Innes-Ker has written a creative real estate investment eBook called "Motivated Seller Magnet." Bill Bronchick William "Bill" Bronchick is a real estate attorney who has authored several books and courses on real estate financing, asset protection and more. Bill Gatten Bill Gatten has authored several books on real estate investing and is the inventor of the "Equity Holding Land Trust(tm) System" -- the PACTrust (tm) and NEHTrust(tm). Brad Martineau Bradley "Brad" Martineau is the author of "The Complete System" a book of "No Money Down" strategies. Bruce Norris Bruce Norris is the author of the "Making Power Profits" real estate investment series. Bryan Wittenmyer Bryan Wittenmyer has authored several books on the subject of creative real estate investing and how to develop and manage cash flow streams. Carleton Sheets Carlton Sheets is probably responsible for teaching more people about real estate investing than any other person. He is the king of late-night infomercial gurus. Charlie & Randy France Charlie and Randy France are the "Get The Deed" people. Their creative real estate investing courses deal with buying and selling property "Subject To" or "Sub 2" the existing financing. Chuck Smith Chuck Smith is a retired cop who has written a real estate course on quick-turning houses. Claude Diamond Claude Diamond is a creative real estate investor who uses lease options. He also has a mentoring program for beginning real estate investors. Darius Barazandeh Darius Barazandeh is a real estate attorney. His creative real estate courses offer information on real estate investing in tax liens, asset protection and more. David Alexander David Alexander is an expert bandit sign advertiser and he teaches courses on beginning and advanced subject to investing. David Butler David Butler is the author of "Tin Can Alley." He specializes in mobile home investing and mobile home parks. David Lindahl David Lindahl wrote a real estate investing course called "Apartment House Riches." Dean Graziosi Dean Graziosi is the author of a real estate investing course called "Think A Little Different" which he sells through an infomercial. Diane Kennedy Diane Kennedy is a "Rich Dad" Advisor for Robert Kiyosaki. She is a tax accounting expert and has written a book called "Legal Tax Loopholes." Dolf De Roos Dolf De Roos is one of Robert Kiyosaki's "Rich Dad Advisors ."TM He also puts on real estate investment seminars. Dwan Bent Twyford & Sharon Restrepo Dwan & Sharon have written real estate investing books and courses on short sales, wholesaling, and foreclosures. Dyches Boddiford Dyches Boddiford has written several books on various creative real estate investing topics including mobile home investing and asset protection. Ed Garcia Ed Garcia instructs a real estate seminar with Terry Vaughan on how to get bank lines of credit to finance your real estate investments. Ernest Tew Ernest Tew has one of the brightest minds in creative real estate investing. His primaryspecialties are mobile home parks and asset protection. Gary DiGrazia Gary DiGrazia is the author of a real estate investing course on buying probate properties called "Diamond Farming." Gerhard Cronje Gerhard Cronje is the author of "Marketing To Attorneys". H. Roger Neal H. Roger Neal writes real estate investing books and courses on fast-flip and rehabbing junkers. Hal Roark Hal Roark has written a real estate investing course called "Landlording Secrets" which shows you how to properly use section 8. Heather Seitz Heather Seitz has written a real estate course on rehabbing. Hugh Bromma Hugh Bromma teaches real estate investors how to invest their self directed IRA's in real estate. Jack Miller Jack Miller is one of the countries leading experts in mobile home investing. Jay Decima Jay Decima offers real estate books and courses on buying and rehabbing "ugly houses." Jeff Beaubien Jeff Beaubien sells real estate investing courses on Lease Option and Lease Purchase strategies. Jeff Kaller Jeff Kaller is "Mr. Preforeclosure." He's has real estate investing courses and seminars on preforeclosure investing and short sales. Jeffrey Taylor Jeffrey Taylor is "Mr. Landlord" and teaches real estate investors how to become better and more efficient landlords . Jerry Hoganson Jerry Hoganson is known as Mr. Mobile Home. Jerry specializes in Mobile Home Parks and Mobile Home note investments. Jim Banks Jim Banks teaches creative real estate investing techniques on the subject of probate investing. Jimmy Napier Jimmy Napier has written several real estate investing books on the subjects of discounted mortgages, buying notes and creating "paper." Joe Brillante & Lou Castillo Joe Brillante & Lou Castillo a real estate investing book called "The A to Z startup kit. Joe Crump Joe Crump is the author of "Zero Down Real Estate Investing" and the publisher of "Real Estate Money Maker" newsletter. Joe Kaiser Joe Kaiser has done a variety of products on creative real estate investing. He has some very interesting & unique approaches to finding foreclosure deals. John (Cash) Locke John "Cash" Locke is a popular writer & of buying real estate "Subject To" and "Bird Dogging." John Beck John Beck can be seen on T.V. infomercials selling his tax lien investing course. John Behle John Behle is the author of "The Paper Game" which teaches real estate investors how tobuy, sell, and create notes. John Burley John Burley has developed a plethora of creative real estate investing courses geared toward building wealth. John Hyre John Hyre is a tax attorney, accountant and real estate investor. He has developed a bookkeeping course for real estate investors and a course on entities. John Schaub Johan Schaub sells real estate courses and seminars on "Making It Big On Little Deals". Schaub has been teaching creative real estate investing for many, many years. John T. Reed John T. Reed is the watch-dog of the real estate investing gurus. He also sells his own real estate investing courses. John Ulmer John Ulmer has written several creative real estate investing books and courses including a private lending course. Jon Richards Jon Richards is the publisher of "Noteworthy Newsletter" a creative real estate investing newsletter about buying discounted cash flows. Kathy Kennebrook Kathy Kennebrook is a Ron LeGrand student who created a marketing system to find motivated sellers. Kevin Myers Kevin Myers is the author of "Buy It, Fix It, Sell It, Profit." Myers has rehabbed numerous single family houses over his 25 year career. Kris Kirschner Kris Kirschner is the author of "The Auto Pilot System For Selling Houses." Lisa Moren Lisa Moren is the author of "Soup To Nuts Real Estate" which is a beginners guide to real estate investing. Lonnie Scruggs Lonnie Scruggs is the best selling author of the mobile home investing book "Deals On Wheels." Lou Vukas Lou Vukas is the author of a real estate investing eBook called"Real Estate Uncovered." Lou Brown Lou Brown is the self-proclaimed "King of Cash Flow." Brown offers real estate investing courses on both acquiring property as well as landlording. Marco Kozlowski Marco Kozlowski sells a real estate course called "Big Fat Checks" which teaches investors how to buy and sell high end luxury homes. Mark Sumpter Mark Sumpter is a real estate investor specializing in the area of short sales. Michael Carbonare Michael Carbonare sells a real estate investing course which specializes in Lease Purchase information. Mike King Mike King has written a real estate investing course and teaches boot camps on forbearances. Pete Youngs Pete Youngs created a real estate investing course called "Rehab 101." Peter Conti & David Finkle Sell courses on lease options, buying apartment buildings, negotiating and more. Very active on the seminar circuit. Ray Alcorn Ray Alcorn is the author of "The Deal Makers Guide To Mobile Home Parks." Ray Como Ray Como sells real estate investing courses on transaction engineering, advanced house-buying and marketing for motivated sellers. Richard Roop Richard Roop sells creative real estate investing courses on marketing and finding motivated sellers. Robert Allen Robert Allen has written several best selling real estate investing books including Nothing Down and The One Minute Millionaire. Robert Kiyosaki Robert Kiyosaki is the author of the "Rich Dad/Poor Dad" book series. Robert Kiyosaki also sells a course on creative real estate investing. Robert Shemin Robert Shemin is another real estate attorney and real estate investor who has created courses on both creative real estate investing & landlording. Robyn Thompson Robyn Thompson is most noted for her real estate investing course on buying and selling distressed properties or "ugly houses." She is also a Ron LeGrand student. Roger Dawson Roger Dawson is a negotiating expert. He is the author of "Secrets Of Power Negotiating." Ron Legrand Ron LeGrand is one of the best-known real estate investing gurus. He had authored several creative real estate books and courses on wholesaling, lease options, and buying pretty houses. Russ Whitney Russ Whitney is another name you might recognize from late-night infomercials. Russ Whitney sells real estate investing books and courses as well as seminars. Scott Britton Scott Britton is the publisher of "The University Of Real Estate Letter" as well as a couple of creative real estate investing courses. Scott Rister Scott Rister has authored several real estate investing products on wholesaling, marketing for motivated sellers and more. Scott Scheel Scott Scheel is a real estate investor who invests in commercial properties. He also conducts a commercial real estate investing bootcamp. Stacy Holder Stacy Holder sells a course on rehabbing and speaks for Robert Allen. Steve Cook Steve Cook is an active real estate investor who has written courses on how to Wholesale & Rehab houses. Ted Thomas Ted Thomas teaches real estate investors how to invest in tax liens. Terry Vaughan Terry Vaughan is the author of the creative real estate investing book "Paper Into Gold." Tim Randle Tim Randle is a creative real estate investor who sells a course on how to buy real estate "Subject To", or "Sub 2" as it's also called. Vena Jones-Cox Vena Jones-Cox is the author of home study courses on basic real estate investing, wholesaling, deal-finding, selling on lease/options, and creative finance. Wade Cook Wade Cook is a best selling author of several real estate investing books as well as books on trading stocks. Wendy Patton Wendy Patton is the author of a real estate investing course on lease options. William Tingle William Tingle has written a real estate investing course on buying properties "Subect To" or "Sub 2" the existing financing. William Tingle is an active real estate investor. Wright Thurston Wright Thurston has written several creative real estate investing courses including "Diamonds In The Rough" which teaches investors how to invest in multi-family rentals property. Real Estate Investing | Real Estate Investing Products | Real Estate Investing Links | Real Estate Investing Site Map | Contact Us © 2003-2005 RealEstateCourseReviews.com™ • All Rights Reserved. No part of this web site may be reproduced electronically or otherwise without express written permission Loading Page...

home mortgage loans and

Bad Credit Mortgage Refinance,Bad Credit Home Loans,California Mortgages-Home Equity Loans! BadCredit Mortgage Refinance | Bad Credit Home Loans | Mortgage Interest Rates | Debt consolidation home loans | Home Purchase Loans | Site Map Bad Credit Mortgage Refinance Bad Credit Home Loans Refinance Mortgage Interest Rates Debt Consolidation Home Loans Second Mortgage Home Purchase Loans Welcome to the home of Inexpensive loans Bad Credit Home Loans and California Mortgages Since 1992 Refinance Home Loans Alliance Mortgage has provided inexpensive Home loans and Home equity loans, and refinancing solutions for all types of credit histories. Apply now for refinancing a home loan with us and take advantage of our low mortgage interest rates. Reduce your monthly payments today. Home Equity Loans A home equity loan is an excellent source of funds, it can free up your equity in your home, and you can get cash for any purpose. This home loan can be a revolving line of credit, or a fully amortized 15 year loan. We provide competitive home equity loans rates and home equity loans. Home Purchase Loans Choose from hundreds of home loans purchase programs for the first time home buyers. You can purchase with no money down and use very little of your own cash. We provide 100% home mortgage loans and 80/20 home loans with no money down 100% financing with 600 fico scores.You can still buy and use our low fico score loan programs with more down payment.We also provide FHA loans that require 3% down payment even with bad or poor credit history. Bad Credit Home Loans We specializes in bad credit home loans and past bad credit problems with minimum 500 fico scores. Discuss your bad credit history with our loan officers who specialize in bad credit home loans. We provide higher loan to values for bad credit mortgage refinance loans than most lenders will. If you have major credit problems we can still customize a bad credit home loan. If you have bankruptcy, repossessions, charge off's and mortgages late payments Click here Second Mortgages There is no equity required for a new second mortgage loan.We provide 100% Second mortgages and loans. Pay off your bills, consolidate debts, or get cash out for any purpose you need. A simple loan application will start the process today.Minimum 600 fico scores required for second mortgages and 640 fico for stated income. Debt Consolidation Loans You can refinance your mortgage and get a loan which can payoff credit cards or any other higher interest rate debts. Consolidate all your debts into a single monthly payment with a debt consolidation home loan from Alliance Mortgage. Current Mortgage Rates Rate APR Type Points 6.00 6.05 30 fixed 0.00 5.37 5.41 15 fixed 0.00 6.50 6.55 30 jumbo 0.00 Home Loans Assumptions Why Alliance Mortgage Apply Online About Alliance Mortgage Corporate Profile Why Inexpensive loans Advantage of using us What others say Home Loans Center Contact us Home Mortgage programs Home Loans Guarantees Loan Rating Survey Privacy and Security Terms of Use Loan Calculators & Tools Home Mortgage Calculators Debt Market Commentary Our Competitors Rates Free Credit Report Mortgage Resources Home Loan Glossary Bad Credit Resources California Mortgage FAQ Site Map Bad Credit Loan Links Bad Credit Loans and Bad Credit Mortgage Refinance Company 1997- 2005 Alliance Mtg Inc. a Mortgage Brokers California Mortgages, Texas Mortgages All rights reserve,mortgage content, bad credit home loans forms, calculators graphics, logos, slogans cannot be reproduced Bad credit home loans | Home equity loans | Mortgage Interest Rate | Debt consolidation Home Loans

land loan products are

Viewpoint Paid Discussion: Mortgages and Investments Wednesday, August 17, 2005 at 1 p.m. ET I'm interested in hosting a Viewpoint paid discussion Viewpoint discussion archive Welcome to Viewpoint, a live discussion forum on washingtonpost.com. This forum offers washingtonpost.com sponsors a platform to discuss issues, new products, company information and other topics. Mortgage Loans and Investment Properties Interested in a mortgage, home equity or refinance loan? Want to learn more about investment properties? Lonnie Cooper, top producer at Absolute Mortgage Co., was online Wednesday, August 17 at 1 p.m. ET to discuss mortgages, the recent interest-only craze or the ins and outs of investment properties. Lonnie Cooper is a senior loan officer at Absolute Mortgage Incorporated in West Chester, Pennsylvania. Lonnie closes approximately $7 million per month in mortgage volume over the past four years. Before coming to Absolute Mortgage, he worked as a loan officer at Independence Mortgage Group and was made partner. Lonnie also owns several rental properties and can provide suggestions and solutions for being a landlord. Lonnie is a graduate of Penn State University. The transcript follows. _______________________ washingtonpost.com: Welcome to Viewpoint. Our guest today is Lonnie Cooper with Absolute Mortgage Co. to answer your questions about loans, mortgages and investment properties. Let's get started! Lonnie Cooper: Lets do it. _______________________ Oaks, Pa.: How do you close so many loans each month? Lonnie Cooper: Hello Oaks, I close approximately 35-40 mortgages each month. _______________________ Washington, D.C.: Hi Lonnie, Thanks for taking my question. My husband and I have been in our house for about a year. We recently received a notice from our mortgage company that basically said our escrow amounts hadn't actually covered everything that the escrow pays for (taxes and insurance). So, we had a shortfall, and we should send in a large chunk of money so our mortgage wouldn't increase by $150 a month beginning in October. Okay. So, even if we do send in the large amount, our mortgage is still going to increase by about $70 because of our increased county taxes. Now, I'm a newbie at this, but is this normal? Does this happen to other people, etc.? Does everyone's mortgage increase when their county taxes increase? We have a 30-year fixed mortgage by the way. I'm sure I sound like a complete idiot, but any insight you could share would be great, since in the past we have had ZERO response from our mortgage company when we've had questions. Lonnie Cooper: I'm sorry to hear that you are getting zero response from them. Taxes often go up and unfortunately the lender has to re-structure your escrow account accordingly. You certainly don't sound like an idiot. _______________________ Washington, D.C.: I keep on hearing that interest only loans are a bad choice and that people are using them to afford homes they could not with a traditional 30. What do you think? Lonnie Cooper: Interest only loans are very popular right now. Unfortunately, many people are taking them for the wrong reason. If used properly by the right person, an interest only loan can make sense. In the current housing market, homes are becoming less and less affordable and an interest only loan is the only way that many people can qualify for the loan. My personal opinion is that if you can't make at least the amortizing arm payment (meaning principal and interest) then you probably are looking at too much home. _______________________ Edgewater, Md.: I am in the process of buying a house that I think we will have for a long time, but I am thinking about starting out with an interest only loan with a 7 year arm and refinancing at some point to a 30 year mortgage. Do you think this is the wrong approach? Lonnie Cooper: I do think it is the wrong approach. Rates are at an historical low. 7 years from now you very well may be looking at not only a large rate spike but also a much bigger payment when the principal is also involved. _______________________ Fairfax, Va.: I have a home equity loan and I am maxed out at $100k. I want to extend that to upgrade my house. Do I have to totally apply for a new loan or can I just ask the bank to extend the line of credit? Lonnie Cooper: Hello Fairfax, Often the lender that you have with the existing home equity loan will allow you to extend it. _______________________ Arlington, Va.: What is the best loan product for new construction that will not deliver until mid-spring 2006? We would like to lock in our rate asap but do not know what is the best. Thank you. Lonnie Cooper: Hello Arlington, Many builders have special deals with local banks and their own mortgage companies. They offer long term locks for your situation with a variety of options. Regarding the product, my answer would be the same for you even if you were closing in 30 days- Take an arm if you know that this isn't your 'long-term' home or go with a fixed if it is. _______________________ Camarillo, Calif.: What is your opinion on mortgages for retired people? Your opinion on paying cash for property or financing it? Thank you. Lonnie Cooper: Hello Camarillo, I often get asked by people in the 70's and 80's whether or not they can apply for a 30 yr mortgage. Even though lenders can discriminate for income, credit, employment etc, they can't discriminate for age. So, that being said, if you need the money take it. Mortgage money is the cheapest out there. There are reverse mortgages out there as well for retirees. They often make sense as well. "Cash is king" as they say- but if you have it and it helps you sleep at night paying for your home outright is a wonderful feeling. (Or so I've heard) _______________________ Rockville, Md.: Hi Lonnie, I am a consultant and have a 2-3 year assignment that will keep me in Baltimore during the work week. I currently own a home in Rockville and have a roommate. Recently, I have been thinking about buying a place in Baltimore and also getting a roommate there to help pay for the mortgage. What are the implications of borrowing equity from my current home to buy the new home? What are the tax implications of actually residing in both homes? -Sandra Lonnie Cooper: Hello Sandra, I try not to give out too much info on tax advice as it often varies from state to state. I believe that the other home needs to be 50 miles from your primary residence to qualify as a 2nd home. If its not, it would be viewed as a rental property- ie higher rate etc. There are definitely deductions available for rental properties - consult your CPA. _______________________ Fairfax, Va.: My primary loan is for $300,000 and is a 30-year. I am looking at getting a vacation property. What can I do to get the best rate on my second property? Lonnie Cooper: Hello Fairfax, If its a true second home aka vacation property, the rate will be identical. If there is plenty of equity in your current home you can take out a line of credit, but they are variable and prime seems to be going no where but up. Our rates are available at www.absolutemortgageco.com and my extension is 104 if you'd like to talk later. _______________________ Goshen, Ind.: Could you please elaborate on what the pros and cons of interest only loans and what is negative amortization? Thank you. Lonnie Cooper: Hello Goshen, I was cut short on my response previously. I'd like to apologize to the submitter of that question. Some quick pros are: 1- They create a significant amount of cash flow 2- They enable you to qualify for more 'house' Cash flow enables the owner to take that difference and invest it into the stock market or pay down other non deductable debts. Cash flow for a real estate investor allows for immediate positive income. Qualifying for more house enables for example a young Doctor get into a larger home knowing that his income will be going up in the near future. _______________________ Washington, D.C.: Is this a good time to look for investment property, even though the market is about to bust? Lonnie Cooper: Investment properties are always available, but because of the national real estate buying craze the 'deals' are much harder to find. Like anything else in life, its a matter of hard work and who you know- meaning get a great realtor and an even better mortgage guy. (Okay so I'm a little biased on this one) Regarding the market bursting- many top analysts feel its going to slow down but not necessarily bust. If your question is would you be buying at the top of the market right now, I'd have to say probably. _______________________ San Diego, Calif.: What is a free float down? Lonnie Cooper: Hello San Diego, A free float down is a product that Absolute Mortgage (the company that I work for) offers along with a few others. Basically its a s simple as "if the rates go lower while you are locked in, you get the lower rate" Its a product that brings a lot of people to us and when the rates go down, people love benefitting from it. It basically makes locking in a win-win _______________________ Falls Church, Va.: Does Absolute Mortgage offer long-term interest only loans and are these available on investment properties? Thank you. Lonnie Cooper: Yes, we offers long term interest only loans. These come in quite a variety. They can be fixed/adjustables that are fixed for the first 10 years or 30 years fixed that are interest only for the first 20 years. There are some that are interest only for all 30 as well. The rates obviously vary on all of these. Yes, we have I/O loans for invest. properties as well. _______________________ Bethesda, Md.: I was looking to buy a plot of land for a second home sometime down the road. What type of land loan products are available and do you offer such a mortgage? Lonnie Cooper: Hello Bethesda, There are many land loan products out there. The majority of them are not 30 year fixed loans, but realistically if you are building on the land in the future you wouldn't want one anyway. Local banks are often the best for this. We don't offer them. _______________________ Reston, VA: Is there a hard-fast rule about refinancing? I thought there used to be a rule that if rates .5 point below your rate you would refinance. Is that still a good rule? Lonnie Cooper: Hello Reston, Thats a great question. The old 'rule of thumb' was that the rate had to be 2% lower. That is certainly no longer the case. We offer what is called a 'True No Cost" mortgage where you can refinance with no costs at all. The costs are not rolled into your principal balance- we pay them. As an example- if you have a 30 yr fixed today at 6.0% and you owe 200k then at todays rate of 5.5% it probably wouldn't make sense to refinance with a traditional closing cost loan. However with a 'True No Cost' loan at say 5.875% you'll save thousands over the life of the loan for simply signing your name. _______________________ Yardley, Pa.: Hello Lonnie, I recently purchased a new home and would like to refinance the 2nd loan for Home Improvements. How long would I have to wait in order to accomplish this? The home was purchased for $279k, but with the right repairs and can be valued at $350k. Christian Lonnie Cooper: Hello Christian, Most 2nd mortgage lenders have at least a 6 month "seasoning" rule for 2nd mortgages in that they won't let you take out a new 2nd based on your new/higher value. We have some products with no seasoning that would allow you to accomplish what you are looking for. Yardley is fairly close to West Chester, Pa. feel free to stop in. _______________________ Front Royal, Va: I have a rather high fixed rate mortgage currently and I am looking to refinance. I have one negative on my credit report which is probably a few months away from coming off which would greatly increase my credit scores. Would you recommend waiting until my credit is clean or refinancing now to take advantage of these great rates. My average score is 674 but should be in the mid 700's. Thanks. Lonnie Cooper: Hello Front Royal, Great question. You guys are full of the. With a 674, I'd recommend giving the refinance a shot now. With the right amount of equity in the property and assets in reserve you very may still be approved. _______________________ Ponte Vedra Beach, Fla.: Does Absolute Mortgage offer loans in other states and what is involved to apply as far as upfront fees (does this vary state to state or based on the loan amount or credit scores)? Thanks Lonnie. Lonnie Cooper: Hello Ponte Vedra, (That is a beautiful part of Fla if I may say so myself) We are licensed in a number of states that are listed at www.absolutemortgageco.com. The owner doesn't believe in charging up front fees- its a much cleaner way of doing business. _______________________ Wilmington, Del.: I currently have quite a bit of equity in my home (primary residence) and was looking to do quite a bit of renovations to the property - which would increase the value. Would you recommend to refinance my existing mortgage for cash out or get a Home Equity Loan or Line. I currently have a 30-year Fixed at around 6% and plan on living in the home for quite some time. Thank you very much. Lonnie Cooper: Hello Wilmington, See my response above for a "True No Cost" loan. It would work great for you. The home equity lines are very popular, but most are variable and again- prime seems to be consistently going up. _______________________ Cherry Hill, N.J.: What is involved with a No Doc or stated income loan? Lonnie Cooper: Hello Cherry HIll, The question is what is not involved- We have a "True No Doc" loan in which we don't even ask if you are employed. We don't need any bank statements etc. Its just a credit score and a pulse. _______________________ Newark, Del.: Is there any tried and true rule to figure out if a home improvement project is worth doing in order to add value to your home (adding garage or addition, finishing a basement., etc.? Lonnie Cooper: Hello Newark, I don't know if there is such a rule. If you ask a contractor you may get a different answer though. In speaking with property appraisers over the years, a sure fire return is adding square footage. (As long as you don't over-improve for you neighborhood) Kitchens and bathrooms also provide the highest return for improvement projects. _______________________ Clinton, Md: If you sell a home (designated investment prop) less than 2 years after settlement, do you have to put the proceed into another investment property otherwise pay the taxes? Lonnie Cooper: Hello Clinton, This one is probably best answered by a cpa. My unoffical opinion is as follows: A 1031 tax deferred exchange can be done regardless of how long you've owned the home. If you keep the property for at least 12 months then you'll pay long term capital gains vs. short term. _______________________ washingtonpost.com: Our hour is up. Thank you for taking all of our questions, Lonnie. Lonnie Cooper: You are very welcome. Its been a pleasure. I hope to hear from you all again. Lonnie _______________________ RELATED LINKS absolutemortgageco.com Mortgage Rates Mortgage Calculator Affordability Qualification Payment Tables --

Home Equity Fraud How

Don’t Lose Your Home. Home Equity Fraud Home Equity Fraud Consumers Union West Coast Regional Office Don’t Lose Your Home. Home Equity Fraud How To Protect Yourself From Home Equity Lending Fraud DO Get free pre-loan counseling before you sign on the dotted line. Shop around for the best home equity loan for your financial situation. Read every word on any loan document before you sign. Avoid loans with one large "balloon payment" at the end. Protect your friends and neighbors by reporting home equity fraud immediately. DON’T Don’t fall for a loan from a door-to-door salesman or home improvement contractor who comes to your home. Don’t decide whether you can afford a loan by the monthly payments alone. Don’t sign anything that has blank spaces. Don’t take out a loan on your property for anyone else unless you can afford to lose that money forever. What Is Home Equity Fraud? Sometimes, taking out a loan against your home’s equity can be a good idea. Home equity borrowing should not be a problem as long as the loan is a fair one and you have the ability to repay the loan. Home equity lending fraud is different: Lenders seek you out and trick you into taking out a loan against your home which you cannot afford to repay. Most times, these loans have very high interest rates and steep fees. When you fall behind on your payments, the lender can take your home and all your equity through a legal process called foreclosure. The lender then owns your home. Once the damage is done, it is very hard to undo. Most people never get their homes back again. Why Should I Care? Nationally, home repair and home equity fraud have stripped the value from the homes of an estimated 100,000 people in 29 states. In the entire country, the San Francisco Bay Area is one of the areas hardest hit by home equity fraud. Real people, many of them senior citizens, have lost ownership of their homes and all their equity, with no hope of ever getting any of it back. Anyone with equity in a home is a potential target. You could be next. Your home equity is just like money. Protect it! If you are a homeowner or know someone who is, you should learn about home equity lending fraud. Knowing what to look for and how to protect yourself can keep you or a loved one from losing a home. Here’s How To Protect Yourself From The Most Common Types Of Home Equity Fraud: Don’t take out a loan from an uninvited door-to-door contractor who appears at your home. Instead: Many local government agencies have special programs to make it easy to repair housing. See if you qualify for one of these programs available in your area. See the Home Improvement Resource List, a separate Consumers Union publication. Find your own contractor; don’t wait for one to come to you. Shop for your own financing. You’ll probably get a better deal. Steer clear of door-to-door salespersons who want to fix your home after a disaster such as an earthquake or flood. Instead: Call the Federal Emergency Management Agency (FEMA) at 1(800)462-9029 for information about repairing and financing repairs to your home after a disaster. If you are in foreclosure because you couldn’t pay your mortgage, someone you never heard of will offer you a new loan. Watch out. Instead: Think about selling your home and keeping your equity rather than taking out another loan. See a credit counselor to talk about all of your alternatives. Don’t put your other debts "on the house" through a bill consolidation plan. When you consolidate credit card debt or your car loan, for example, into a home equity loan, you put your home on the line for that debt. Once you put that debt "on your house," you can lose your home if you don’t make those payments. Instead: Talk to a credit counselor. You can get help to work with your creditors to make payments more manageable, possibly without putting debt "on your house." Look Out For These Danger Signs "No Credit? No Job? No Problem!" "Don’t worry, you have plenty of equity in your home to qualify for a loan." Walk away from anyone who says any of these things to you. You may be dealing with someone who will treat you unfairly. They don’t care if you can pay the loan. They know they can legally take your house through foreclosure if you don’t pay. In their eyes, the one thing that "qualifies" you for a loan is your inability to pay it. Before you borrow against your home, ask yourself these two questions: Can I afford this loan? Just because a lender says you "qualify" doesn’t mean you are getting an affordable or fair loan. If you cannot afford the loan, you will lose your home. What will I do if I lose my home? Most people have nowhere to go after they lose their homes. Remember that it is easier to learn how to protect your home now than it is to pick up the pieces after it’s gone. Take advantage of free, local loan counseling. See the Resources section at the end of this pamphlet. Don’t Let Anyone Steal Your Home! Here’s How: DO Get the "big picture" on a loan. Look at more than the monthly payments. Make sure that a loan’s interest rate and fees are competitive and fair. Shop around with different lenders to compare. Hang-up on unsolicited telephone callers. Toss-out mailers you receive from companies offering to arrange a home loan for you. Steer clear of high-pressure sales tactics, such as claims that an offer is good only for a limited time. Seek help from a trusted family member or friend who understands financial matters and can help you get free loan counseling. Avoid loans that are set up as "interest only, non-amortizing or partially amortizing loans." With this type of loan, you still owe the money you borrowed after you make all the payments. You must make one large, final payment, known as a balloon payment. If you can’t make this payment, you may lose your home through foreclosure. You should avoid these loans at all cost. Beware of lenders or contractors who try to trick you into signing away your home. Make sure that a "Contract for Home Improvement Services" is only that. Don’t give your house away by signing a "Deed of Trust" or a "Quitclaim Deed." Think twice about taking out a loan against your home to give money to anyone,even a friend or family member. Consider such a request only if you can afford lose that money forever. Otherwise, you may lose your house if the other person doesn’t repay you in time. Act fast if you were pressured into signing for a loan you didn’t really want or cannot afford. Federal law gives you three days to get out of a loan contract whenever your home is used as security for a home equity loan. You may cancel the loan for any reason, but only if you do it in writing within 3 days. This is known as the right of rescission. Contact an attorney immediately if you have any questions about whether your lender violated the law. DON’T Don’t sign anything related to a home loan without first obtaining independent, free advice from a nonprofit counseling agency. Check the Resources list below. Don’t take the first loan offer that lands in your lap. Shop around! Some lenders charge more than others do. Don’t trust door-to-door loan sellers. If you really need or want a home loan, you should make the first contact and carefully investigate all the possibilities before considering a loan. Don’t take out a loan that is made solely on the value of your home, not on your ability to repay it. Your home equity alone does not give you the income you need to make the monthly payments. Don’t borrow more money than you need. The bigger the loan, the more stake your lender will have in your home equity. Don’t sign a form with incorrect information about yourself on it. Don’t sign anything to do with your home that contains blank spaces. Once your signature is on a form, anyone can fill in those blank spaces with obligations that may be very different than the ones you have agreed to. Don’t sign any forms written in a language you do not understand. You may be signing away your home without even realizing it! It’s okay to say "I don’t understand and I will not sign this." Remember: if the offer is good today, it should be good tomorrow If it sounds too good to be true, it probably is. Resources Before you take out a home equity loan, get pre-loan counseling for free: San Francisco Bar Association of San Francisco Equity Fraud Hotline and lawyer referral (415) 782-8903 Consumer Credit Counseling Service (415) 788-0288 or (800) 777-7526 Consumer Action (415) 777-9635 Alameda County ECHO Housing (510) 271-7931 Contra Costa County ECHO Housing (925) 679-8023 San Mateo County Consumer Credit Counseling Service (800) 200-6444 Legal Aid Society of San Mateo (650) 377-0158 East Palo Alto Law Collective (650) 853-1600 Santa Clara County Consumer Credit Counseling Service (800) 969-7526 If you feel you are the victim of home equity lending fraud, call one of the local agencies above. Then call the National Fraud Information Center. File a written complaint against the lender with the appropriate local law enforcement and state regulatory agencies. National Fraud Information Center (800) 876-7060 Fraud reports from consumers are sent within minutes to the appropriate law enforcement agency. Law Enforcement: San Francisco Office of the District Attorney: (415) 553-1814 Alameda County Office of the District Attorney: (510) 569-9281 Contra Costa County Office of the District Attorney: (925) 646-4500 San Mateo County Office of the District Attorney: (650) 363-4677 Santa Clara County Office of the District Attorney, Real Estate Fraud Division (408) 792-2880 State Regulatory Agencies: Call each agency to see if the lender you are complaining about is licensed by that agency. Sometimes lenders are licensed by both agencies. California Department of Real Estate 185 Berry Street, Room 3400 San Francisco, CA 94107 (415) 904-5925 California Department of Corporations 3700 Wilshire Blvd., Suite 600 Los Angeles, CA 90010 (800) 347-6995 (toll free) [ Health ] [ Finance ] [ Food ] [ Product ] [ Other ] [ About CU ] [ News ] [ Tips ] [ Home ] Please contact us at: http://www.consunion.org/contact.htm All information ©1998 Consumers Union

Investment Property for a

How to Sell an Investment Property for a Loss - eHow.com Clear Instructions on How To Do (just about) Everything Web eHow.com Home Finance & Business Center Real Estate How to Sell an Investment Property for a Loss Selling an investment property for a loss will give you a tax write-off directly against your income. Steps: 1. Calculate your "basis;" this is the base variable used to calculate the gain or loss on the sale of a property. Your original basis is comprised of the property's purchase price plus the buying expenses (non-recurring escrow costs such as title insurance, escrow fees, recording fees, transfer taxes, commission, tax service, deed preparation, credit report, appraisal fee and termite inspection) upon acquisition. 2. Calculate your adjusted basis. The adjusted basis is the original basis plus improvements made to the property while you've owned it. 3. Sell the property. With an all-cash transaction the tax event occurs in the year the property is sold. 4. Calculate depreciation. (According to the I.R.S., every asset has a useable life, and the amount of depreciation is calculated according to the life of a certain asset. Consult with the I.R.S. or an accountant/C.P.A. to determine the correct amount of depreciation you should use.) Use the total amount of depreciation taken on tax returns for the total time the property has been held. 5. Calculate the expenses of the sale. Expenses include real estate agent commission (if any) and any other expenses directly associated with the sale of the property. 6. Add the expenses of the sale to the adjusted cost basis. This is your new adjusted basis. 7. Add the total depreciation to the sales price, and subtract from the new adjusted basis. This is the amount of your loss. 8. Assure yourself of a loss by calculating that the adjusted cost basis of the property plus the expense of sale will be greater than the gross sales price plus all depreciation. 9. File I.R.S. form 4797, Sale of Business Property. Tips: Points are not deducted as a buying expense, but are amortized over the life of the loan. Properties held for investment must have been used for personal use less than 14 days throughout the year. There are other ways to sell investment property, such as through an installment sale or an exchange. Consult a C.P.A or exchange facilitator for assistance. These selling options are complicated and require the assistance of a trained professional. Sometimes a seller will agree to pay a certain number of the borrower's points for obtaining a loan. When a seller pays points for a loan, they are considered to be selling expenses (just like a commission) and can be added to the adjusted cost basis. Warnings: In order to include certain selling costs, such as repairs required to sell the property, these costs have to occur within a specific period of time before the sale to qualify. Check with your accountant or C.P.A. Please Share Your Tips with Us More Resources: Contribute to eHow: Write an eHow Article Suggest a Topic Give Us Feedback on This Article Related eHows: Choose a Real Estate Agent to Sell a House Pay Taxes on Your Rental Home Get Tax-Free Profit From Your Rental Home Sell Mineral Rights Do a Tax-Deferred Exchange on Investment Property Things You'll Need: calculators tax consultants Project Details: Skill Advisory: Moderately Easy New! -- Related eHows: Choose a Real Estate Agent to Sell a House Pay Taxes on Your Rental Home Get Tax-Free Profit From Your Rental Home Sell Mineral Rights Do a Tax-Deferred Exchange on Investment Property Check out Thousands of How-To Solutions in eHow's Centers Automotive Careers & Education Computers & Home Electronics Family & Relationships Finance & Business Food & Entertaining Health Hobbies & Games Holidays & Traditions Home & Garden Personal Care & Style Pets Sports & Fitness Travel How to: --? Web eHow.com Home | Site Map | About Us | How To Books | Link to eHow Subscribe to the eHow of the Day Mailing List : Have the eHow of the Day appear on your My Yahoo! Page: Add the eHow of the Day to your RSS reader: © 1999-2005 eHow, Inc. How things get done. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy .