“Wait Times” for BK and Foreclosure Borrowers: Qualifying to Buy Again
Only 1 year is possible with FHA’s new “Back to Work Loan” and a Verifiable “Hardship”
- Steady employment in the same line of work for 2 years and the probability of continued employment
Read more on New qualifying rules for bankruptcy and foreclosure people…
Student fix and flip deal
Rehabing real estate is fun
One of my students just got a deal in Compton so we shlepped out to see it. We asked John Fluker who is a retired building inspector to come out. He is a life saver when dealing with the City inspectors. He can save you mucho dinero. Those city guys can be little Hitlers. They hate the fact that you are going to make more on one deal than they make in one year so they make it tough for you. With John there to negotiate, things go much smoother, I speaker from experience,
I had a deal in compton and every time the inspector came out he found something new. We were going nowhere. I could not get my plans approved. We were taking a 3/1 and making it into a 4/2.
Read more on Went to look at an ugly house…
How to get the foreclosure sale postponed at the last minute
- Pay up the arrears
- Present the bank with a purchase and sale agreement
- Offer the bank a short sale offer
Read more on Stopping the foreclosure sale…
Will L.A. get a football team?
Rams owner just purchased a large chunk of land here. Future stadium with a return of football to L.A.?
Houses over 1 million are setting records
More homes sold over 1 millions than in any other price category. A lot of foreign money is coming in as well as stock market investing feeling good about their earnings in that area. Celebrities are getting into the act also
Read more on Luxury home sales soar…