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Trust the government!!!!!!!!!!!!! No way, or their affiliates!!!!
Isn’t Lawyers owned by Fidelty National Financial just like Security Title… so you would have the same tool…
This app works on all platforms pc, mac, droid, blackberry, and yes windows phones. To see more about the app you can go to http://www.securityagentpro.com
Or call me if you have questions 602-793-4475
Is there an app for Windows phones?
Lawyers Agent can also do all these calculations (and much more) all on your smart phone. But it is very nice to have a independent third party (HUD) illustrating your point for you.
Hey guys if you want a real rate calculator and you have a apple pc or droid here is the answer. For the I-pad/I-phone user go to the app store and key word security agent you want to get the ver. 2.0 load it up. When you start the app for the first time please chose returning customer that way you get the full ver. for FREE! When it asks you who your marketer is go to the bottom of the page and chose me Tony Scardina . BAM your set with the best calculator in the business. It even includes escrow fees, lender fees and RE fees all on the same page! Let me know if you need help.
Thank you for this info
I wonder what it will be like in a decade when there are more home buyers, but no homes because they are all bought up by investors and are rentals. Investors are making hay while the sun shines no doubt.
Missed your show yesterday but if you must make a name change why not do a take on Superman. Have your logo like the Daily Planet building and insert TBWS instead of the Daily Planet on the revolving banner. Whatever name you come up with can be down below!
What’s your take on Romney’s comment to repeal Dodd-Frank?
I can not get your emails sent to my home computer to open and play daily video, though I can open and play on my cell phone. Any clue as to what I might be doing wrong???
Lots of Smart stuff !
Hi – I love your daily shows!
I have a question about non-conforming mortgage rates – the ones up to 625K. Since the rates on the conforming went down again today, when do you think the non-conforming will drop – today, tomorrow, next week, never? Or?? I know you two are the best to be able to predict the future!!
Did you catch the shout out from President Obama last night in the debate where he again blamed the Loan Officers for the market collapse.
Awesome wasn’t it? I wish I were a bee in Romney’s ear to have him ask Obama if he felt he was partially to blame for the CRA lawsuits he filed to force the banks to lend to higher numbers of low income and minority borrowers. At least he did mention the rating agencies.
Yes, I did. I won’t repeat what I shouted out!
He forgot to mention all the other players – Angelo Mozilo, Jamie Dimon, Ken Lewis, Geitner, and the organized crime system set up by the too-big-to-fail banks.
Loan officers couldn’t sell those damn loans if they weren’t created and pushed by banking syndicate – okayed by Greenspan, etc.
These guys make the Mafia look like Choir Boys….
No mention of any of that, however…..
Just a question. Is it just sour grapes that we (the LO’s and REA’s) didn’t make a buck on the investor bulk purchases? Isn’t there a positive in getting the foreclosed homes occupied, taxes paid timely, and repaired a positive regardless of the owner?
Sure owner occupancy is great and better long term, but I bet the neighbors of the homes are glad the grass is mowed and someone living in the house that should be there.
Honestly, no, it’s not sour grapes. When I have 8-12 offers, and agents doing everything but bringing me wine and roses to FINALLY get their buyer under contract we definitely need more inventory. Out of area investors are most likely going to bring in their own workers who will take they pay check and spend it in their own state- not in our local economy. And I do not care who you are, handling 90 homes at one time isn’t going to happen very fast. We also have the NSP program who has bought a lot of inventory and it is just sitting unattended because they have figured out how to get as much of the government money as possible but they are totally unable to handle what needs to be done. Again, this inventory needs to get into the hands of homeowners, we’re at less than 6 months inventory which makes for an inflationary market. Not to say we do not have great LOCAL investors who are buying these homes, going through them like Grant took Richmond and correcting the deficiencies and making them ready to sell. Kudos to them, but having seen the results of bulk sales I am not in favor at all.
By the way.I think you guys are great! You have information that makes a difference for people in the industry. Your acronym could be GMDD = Good Message Delivered Daily!
No doubt in socal the investors are scooping up the bottom of the market (100K to 200K ) and turning them into rentals. Its tough for a VA & FHA buyer to purchase a home because the seller will take less cash than the conventional buyer is offering through financing. Lovely experience eh? Its like musical chairs without the music. While the numbers you present might make sence for the buyer vs rent I have to ask. At some point when interest rates rise, what will that do to home prices? As a potential cash buyer myself, it appears lower prices could be just over the horizon because interest rates going up will certainly push home prices lower. Interest rates affect how much home a financed buyer can purchase… no, yes ? So, with all the debt we are hauling around as a country, when will we see higher interest rates? Their isn’t much money in “money” these days… and eventually that will change. As we as a nation are percieved as weaker finanacially, our creditors are going to want more interest on their risky investment in US treasuries and other securities… yes, no ? Are we immune from default as a country? You think that doesn’t affect interest rates at the local level, yes, no ? I am betting prices will drop if foreign debt holders decide our credit rating gets whacked again and our “risk’ ( ability to repay ) rises. Of course, QE3 and the printing presses can fix this mess were in, right? Yes, no ? Ok… enough… I think I will wait to buy with cash unless you can explain to us how things are going to stay the same.
Once again you guys provide very useful information. Your the best! Thanks
Justin Beiber???? WTF get paid for that album promotion?
The Bieber album was being banished from the face of the earth, using the same visuals used earlier to demonstrate that bad loans had been banished from earth. (And good riddance to Bieber!)
A tough job but someone has to tackle that little squirt!! Good job guys!
FYI. I went to the site you talked about (www.hud.gov) and it sent me to http://www.huduser.org. I looked for the rent vs. buy link and it’s nowhere to be found.
BEAUTIFUL! If PMI companies can tweak their computer program like this to show more comparison of FHA with LPMI (Lender Paid Mortgage Ins) mortgage, further savings can be shown for conventional mortgage! Looks like I’ll be making an Excel spreadsheet with calc’s today!
We typically us United Guaranty for our PMI and their calculators do show the savings differences between FHA and LPMI.
Fannie Mae mandates all of their REO inventory is restricted for the first 15 days to owner occupied buyers only- this is to help increase home ownership and stabilize neighborhoods so they do not become rental heavy. So, now that we’re in one of the biggest inventory pinches we’ve had in years Fannie is bundling up properties and selling them to rental investors further inflating prices and decreasing the amount of work and money floating through a local market.
Seeing the opposite. Equity investors are paying market price for these homes,not .60 on the dollar,and values are going up due to higher priced sales. the most important thing these investors are doing is repairing/replacing roofs, A/C’s and other needed, something the banks won’t do. (Exceptions: Homepath homes with repairs done and NSP rehabbed homes). Equity investors are coming into areas and employing contractors to do the work, and they are employing real estate agents to find homes that fit into the formula. Not all areas work, but because they buy homes cash at market value, appraisals don’t stop the purchase. Rents are now exceeding PITI payments, so it was only a matter of time for this to happen. Yes, there are negatives. But banks have turned a blind eye to the the quality required for a resale market, and equity investors have figured out a way to handle the void.
WTF Appraisals don’t stop the purchase!…..your misplaced anger is showing…..appraisers are not there to STOP THE PURCHASE. Just because it’s cash doesn’t mean the purchaser’s capital is safe, it means that the purchaser has enough money NOT to use a mortgage and is willing to pay the amount for a home because s/he is comfortable with the selling price, that is all. The appraiser’s role in the process is to try and give an assurance to the investor(who has not seen the home and is using the appraiser’s eyes and ears while on site to give them an unbiased opinion about the value)that his/her investment is relatively safe, particularly when a borrower cannot buy the home without a mortgage but MUST use someone else’s money to realize their dream. And please don’t get me wrong…..Investors who pay cash sometimes make miscalculations, or perhaps read the market wrong as a cash buyer is still open to reactions from the same market….. it’s just when they pay cash and they lose all or part of their investment they have no one else to blame or sue for their lack of understanding of the market….So please reconsider your view of the role of an appraiser in the process as the one you have now is really offensive….and very incorrect…
I believe Pam’s statement was misunderstood. Many homes are not appraising for listed or near listed price. Some appraisers, (we have many bad ones banks are using from other areas that do not know the area they are appraising) are using short sale/foreclosure comps not giving a true market value(this also depends on whether the area is short sale/reo driven) and what is happening is the properties are not appraising out and the deal if therefore squashed. So in ‘essence’ the appraiser is stopping the purchase. We see this time and again where a bad appraisal is given and it stops the deal. I totally agree with Pam for current market conditions and investor status’.
Pam made perfect logical sense in a professional manner. There didn’t seem to be any “anger” whatsoever. Your post, however, did seem to have some sensitivity to the subject coming through…just saying…
Pam – a lot of investors are doing the repairs themselves but I wish the homes would just be sold as-is to the owner-occupant home buyers who could use an FHA 203(k) Streamline to finance the repairs they want with their tastes and colors so that they can have the home they really want. Their wouldn’t be any “flip” issue if it was done this way, either.
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