Archive for the ‘mortgage/financing’ Category

Owner Financing in Texas

July 5, 2010

From the Texas Association of Realtors:

“Many of us have been very concerned about the implementation of federal legislation known as the SAFE Act that would severely limit an individual’s ability to seller finance their property in Texas.

We are working on numerous regulatory and legislative solutions to this affront to private-property owners, and have some good news to report. At our urging, the chief regulator over the SAFE Act in Texas, the commissioner of the Texas Department of Savings and Mortgage Lending, has taken significant steps to allow Texas property owners to continue to seller finance up to five transactions in a 12-month period.

More specifically, the commissioner has delayed the implementation of the SAFE Act requirement for licensure in seller-financed transactions in Texas until August 31. This will give us time to implement regulatory and legislative changes during the coming months. For now it is important for you to know that the long-standing law of allowing a Texas seller to finance up to five transactions in a consecutive 12-month period is still in effect and the Texas Association of REALTORS® will continue to work at the federal and state level to see that this is a permanent solution.

Finally, this action would not have happened if not for the thousands of Texas REALTORS® who participated in our grassroots efforts to correct this abuse to private-property owners in Texas.”


Thank God in Texas we are still free to sell our homes anyway we choose ((at least 5 per year))


the death of easy owner financing

April 19, 2010

Well the government has finally gone and done it. They have killed easy owner finanicing in our Great State. Gee thanks I will be sure to send my representatives a thank you letter for the SAFE ACT and its implementation. If you have ever wanted to exit a house that was an investment property you must now be a mortgage broker in order to sell it if it was an investment property. I guess now those buyers who need owner financing from investors will now have to pay a little bit more for the headache the investor has to go through in order to owner finance a house to an buyer who wants to live there. Did the wise washington politicians think that the SAFE ACT would protect buyers who need finaning? PLEEEEAAAASEEEE!!!!! The only thing it did was make it harder for those who need the private financing to get it. They were not smart enough outlaw private financing. oh sorry they cant do that but they sure can make it harder for investors to finance a transaction to buyers. Exactly who did they think would pay for things when they become harder to do? The investors who want to use owner financing as an exit stratege? NO WAY it is the buyers the ones the SAFE ACT are supposed to protect. Now if I need to hire a mortgage broker to take the application, service the note and approve buyers exactly who do they think will pay for those services? ME NOT a chance the buyers will. If they are strapped for cash how exactly will that help them? It will not it will be a detriment to the buying process. Now how does the SAFE ACT help sell more houses? Making things harder to do in no way shape or fashion helps sell more houses. So who exactly benefits from the so called safe act? THE BANKS the ones who did not do a good job restricting credit, underwritting loans, servicing those loans, or moving excess inventory in the form of REPO’s. Check out this analysis in my account entitled Apr10-seller-financing for an analysis of the so called SAFE ACT and what you should be doing if you want to owner financing a house. Good luck and God Bless!

Freddie Mac sees rates headed to 6 percent by end of 2010 – CNBC

January 6, 2010

Freddie Mac sees rates headed to 6 percent by end of 2010 – CNBC.
How are higher interest rates going to effect your investment? How will they effect other investors who are in trouble? What opportunities are you going to see if interest rates go up and up and away? Do you have any idea how many properties have financing that is going to blow up those investments? Are you in a situation that if rates go up you will blow up?

Do you have a strategy to deal with higher rates in your investment life and the life of those around you? If not please call me at 512-689-6742 and we can discuss how you can position yourself to survive, thrive, and capitalize on this environment!

Borrowing Off Your House Is Now a Thing of the Past – CNBC

January 5, 2010

Borrowing Off Your House Is Now a Thing of the Past – CNBC.

here we go tighter and tigher financing options. What will you do as a real estate investor? What are your options to get any reasonable financing? Ask someone who has refinanced 3 buildings in the middle of this financial meltdown for thier own portfolio. Dont know who that is? Its me. Call me at 512-689-6742 to see what I had to do to get a good loan on some of my property and how you can too.

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