What can a real estate agent and broker require you to sign in a real estate deal?

Dec 052010
 
real estate
bynancyarora2020

I am in escrow on some property in which the seller and his real estate agent were not very forthcoming in their disclosure statements. Through a third party I found out some things about the property that are detriments (such as occassional flooding) but I am willing to overlook them and still purchase the property. I have released all my contingencies and we have a close date set.

My real estate agent happened to tell the seller’s real estate agent that we found out some of these things on the property – most importantly about the flooding – and now the selling real estate agent wants me to sign a bunch of documents listing out what I found out as if she had told me about them. I don’t want to do it – it took considerable effort for me to uncover these issues and I have already signed off on contingencies. I don’t think I need to also let her off the hook as if she had disclosed these things to me – she did not. Can the realtor force me to sign these?
I am asking if a real estate agent can legally force me to sign informal and misleading documents in order to progress with the purchase? The seller and I have already signed all legal documents as outlined in our legal contract.

Broker Price Opinions Jobs – Eight Tips For Launching Your Real Estate Investing Career

Dec 032010
 

Broker Price Opinions Jobs

Eight Tips for Getting Started in Real Estate Investing

Introduction Broker Price Opinions Jobs

This article is just the basics for getting started in real estate investing. This is not a how to article but an article that gives you some information about things to do to get started. Everything in this article is tools that can be applied to helping anyone get started in real estate investing. I am going to give you my eight keys to getting started. Nothing is right or wrong but reflects the point of view of the author. Laws and legal practices vary from state to state, and laws can change over time. The author does not vouch for the legality of his opinions, nor is there any intent to supply legal advice. The author strongly encourages the reader to consult with professionals and an attorney prior to entering in any real estate transaction or contract. The author is not a writer but he is a real estate investor. There will be grammar mistakes and errors, so don’t be too critical of the grammar but focus your energy on what is being said. With that said prepare yourself to think a little differently and expand your mind. Let’s get started on an amazing adventure.

The Eight Tips are as follows

1. Desire
2. Goal Setting
3. Learning What To Do
4. Attending a Real Estate Investing Seminar
5. The Billings Montana Market
6. Finding a Mentor
7. Your Real Estate Team
8. Just Do IT

1. Desire

Before we get in to the bolts and nails of real estate investing in I want to talk to you about desire. If you are going to be successful at anything in life including real estate investing you have to have the desire to do it. Desire is defined as longing or craving, as for something that brings satisfaction or enjoyment. Desire stresses the strength of feeling and often implies strong intention or aim. In real estate investing if you don’t have a desire to learn and grow as a human being and really get satisfaction out of it, then real estate investing is going to be hard to do. When I go out and look at a property it brings me a lot of enjoyment. Every aspect brings me joy from talking to home owners, figuring out how I can make a deal work, to buying the house and to finding a good homeowner or tenant for the house. Real estate investing may not be for everyone but real estate investing can offer anyone the financial freedom we all crave for. If you do not have the desire for real estate investing that is ok, it can still help you to live your dreams and help you to get where you want to go in the future.

Why is real estate investing an amazing avenue for anyone to live out all of their dreams? Let me ask you a few questions. Do you have enough money to do anything you want? Do you have everything you want? No debt? A nice house? Great Marriage? The freedom to do anything regardless of how much it costs and the time it takes? If you have all of these things then you are one of the few people in America who does. Most people may be working fifty hours a week and making just enough to pay their bills. In today’s day and age most people are living pay check to pay check never really knowing if they will make enough to pay the bills that just keep piling up. If you cannot keep up with your monthly bills how are you going to plan for retirement or send your kids to college or have time to enjoy life. The answer to all of these questions is becoming financially free. Now it’s not going to be easy everyone will have to get off the couch and out of their comfort zone. Real estate is proven to be one of the fastest ways to get your out of the rat race of the nine to five and begin living the life you deserve to live. Everyone wants something different out of their life. Some dream of traveling the world, spending more time with family, volunteering, golfing, laying on a beach, giving back to the community, or anything that will make them happy. There are thousands of things that make people happy.

Making it in real estate takes a person who has a strong desire to change their lives for the better and think big. Anyone can become a great real estate investor. It is going to take a lot of work and can be a struggle at times but in the end it will be the most amazing feeling ever. The people that make it in real estate investing all have a few things in common. First they run their real estate investing business like any other business out there. Second they get out there and network with anyone and everyone. Some people might be like me and have a hard time talking to other people. If you are that is ok, anyone can learn how to become a people person, it just takes hard daily work. You have to push yourself past your comfort zone. The third thing is that you cannot be afraid to fail. Everyone has failed at something but the most successful

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How do I get the best deal on a mortgage? What kind of questions should I be asking the mortgage broker?

Oct 312010
 
Mortgage
by Dan4th

How do I get the best deal on a mortgage? What kind of questions should I be asking the mortgage broker?
My partner and I are first time home buyers. We have saved almost 20% of the property and both have secure well paying jobs. Unfortunately we do not know much about mortgages and want to get the best deal possible. Should we see more than on broker? Should we get our own mortgage quotes as well? Do we have to pay trailing commissions?

Best answer:

Answer by gabriele
Hello, do as much research as you can – brokers are great if you don’t have the time but if you do you are far more likely to understand what you’re getting into and find the best and most suitable product for you. These days, it’s so easy to get information from multiple banks – I’d recommend calling rather than going online as they can ask you questions about your specific situation and make recommendations, the information on the internet is onlyn broad.

You don’t have to pay any commissions to brokers – this is all paid by the banks. They pay an upfront commission then an annual trailing commission for each year you have the loan with them.

With your substantial deposit as well as strong employment you are also in a good position to negotiate with the banks – don’t be afraid to do this, you are stuck with this loan for a long time so spend the time now getting it right!

Be careful with what broker you choose – if you have to go with one only go with the mainstream broker companies (eg mortgage choice), there are some dodgy ones out there and lots who will just sign you up and then you’ll never hear from them again. To be honest you’ll often get the best deal going direct through the bank – they have more specific knowledge about their own policy/procedures whereas the brokers only have basic knowledge of maybe 10 – 20 different banks.

If you are borrowing over 0K, look for a package – this will involve an annual fee but the cost for this will substantially outweigh the costs saved in interest rates and fees on your home loan as well as all your other banking.

This site may help you to compare many mortgage companies at once http://easymortgageadvisor.blogspot.com/ fill the form and you can get a free quote from top banks, brokers and mortgage lenders

Good luck! Remember, the more research the better. Don’t just trust one specialist – if you are fully educated and informed then you will be the best specialist on your particular financial situation.

Hope this help,

Know better? Leave your own answer in the comments!

Credit Score of 702

May 182010
 

 

Hello, 

I am looking for some advice here.  I have a Trans Union score of 702, Experian score of 690 and I forget what the other one is at the moment. 

What I need some help with is some advice.  Back in 2006 when I bought my house, The original bank sold the mortgage to Ocwen.. Fine I did not mind, that was their right.  Anyways in 2007, I ran into some financial difficulties and got behind by 1 months on the mortgage.. I got back on my feet and called them to make the payment arrangements.  The person seemed pretty helpful while I was on the phone and offered me a payment plan called the forbearance plan to repay the loan.  I of course agreed to that.  What the lady failed to tell me.. was that they would still be reporting that month that I was late as being 30,60 and 90 days late.. Even though I was meeting their set payment plan.  If I had been made aware that they would be reporting the payment as still being delinquent during this 12 month payment plan.> I never would have agreed to.  Anyways back to the story.. About after 6 months in this program.. I checked my credit.. and was amazed at what I found.  I immediately paid off OCWEN.. but by that time it was too late and they had reported me as being as late as 90 days on the payments.. 

Well since then I have sent numerous letters to Ocwen asking them to either remove the delinquent reports.. or at least report them fairly as payment plan..  They have refused to do either.. I have sent letters to all the credit bureaus disputing the delinquent reports..  But to no avail either. 

 

Anyways,  in 2008 My wife and I were wanting to refinance the house.. well, she knew a Mortgage Broker from a family friend.. and wanted to give her the business of the Refinancing.. So we went with this lady.. My credit score at that time even with the delinquent reports from 2007 was a 670.   Anyways the broker asked to pull my credit so she could get the house refinanced.. OK, so I gave my permission.  WELLLLLL she obviously did not know what she was doing..  Every finance company she went to, she had them pull their own credit report.. needless to say the hard inquiries really screwed up my credit..  When I found out in Dec that my credit score had dropped from a 670 to a 534… Killed me.. I immediately dropped her as my mortgage broker.   Since that time I refinanced in Sept 2009 to a much better rate from a regular mortgage company..  And my credit has slowly been building back up…  BUT, I know that those items are still hanging over my head..  Even though my last delinquent payment of any kind was Oct 2007 when I found out what Ocwen was reporting.

 

Is there anyway to get these hard credit inquiries off my credit report, even though I was the one who authorized this lady to pull my credit for the purpose of refinancing.. What I had not counted on was her having each bank pull their own report.. Having over 20 different hard inquiries in less than 45 days and being rejected for each of them due to the delinquent reports from OCWEN…    Well I am at a point in my life where the credit score itself is getting built back up.. But I know those others are still hanging over my head..

 

 

Any suggestions at all?

 

Thanks people 

CA letter from attorney office…best course of action?

Apr 142010
 

My husband recently received a letter from an attorney’s office attempting to collect an old cc debt.  This debt is from several years back and accrued before he had a legal social security number.  He received a green card and SSN a couple years ago, but this was from BEFORE that.  I am not sure how in the world he got a credit card w/out a valid SSN, but I do know he worked with an extremely shady mortgage broker before we were married.  Perhaps the broker “got” him a social in his name that wasn’t totally legit and he opened credit with it.  This was back when brokers were doing anything and everything to qualify people that weren’t really qualified.

 

I’ve checked his credit reports and this debt is not showing on any of them.  Can the CA/attorney still collect the debt?  I assume they could sue him in small claims court if they were able to successfully serve a complaint.

 

Should I send a DV request as a response?  I don’t want to accept responsibility for the debt just yet, but I would like to know what proof they have that this is his debt.

 

If they have proof and the CA/attorney would really pursue this then I guess we should settle, right?  If we don’t clear this up, can they really do anything given that the card is not under his SSN and d.o.b does not match? 

 

The amount is roughly $1,500.

 

No lectures please.  I don’t endorse hubby’s behavior before we got married and he is paying his taxes and all his bills now.  I am just wondering the best way to handle things at this point.  Thanks!

What percentage does a mortgage broker get for a refinance loan?

Mar 082010
 


Like to know how many mortgage brokers will use me. I received 50 million 250 thousand U.S. dollars loan watt home $ 300,000 in assets. 谢谢.

How do I get my auto insurance broker license in CA??

Mar 052010
 


I bought a car last week and dealers have a staff to take pictures, give me the right insurance at the scene, I like what he was doing, but I do not know what to do, can you tell me how to get my car insurance agent / Broker license in CA, if I have an office or I can on my laptop from home? Thanks

"Congratulations! Your mortgage application has been preapproved."

Mar 042010
 

Thank you so much everybody!!!!!  We’ve pulled it off, and We couldn’t have done it without everyone here.  I started at 574 at the end of December, and my middle score is now 680 according to what was pulled by our broker yesterday.  I have our prequal in my hot little hands, and I am seriously thinking about framing it!

How do I pursue mortgage broker training? Can I work from home?

Mar 012010
 


Am considering further work as a mortgage broker. I have been very positive sales staff, when I was in this area of work, so I’m confident I can do well. I have a degree and positive, but do not know where to begin. I love working from home. I already have a home office set up. I am in New York, require a license of the direction of how to begin. Any professional advice would be much appreciated! Thank you.

FSA bans mortgage broker for failing to prevent fraud

Feb 172010
 

FSA bans London based mortgage broker for incompetence and failing to prevent mortgage fraud
The Financial Services Authority (FSA) has banned Walthamstow mortgage broker Kevin Byrne for lacking the integrity and competence to prevent his business being targeted by mortgage fraudsters.

Read more on UK Financial Services Authority

FSA bans London mortgage broker
An investigation by the FSA revealed Byrne accepted mortgage referrals from an introducer but failed to undertake due diligence or any basic checks on client information supplied by the introducer.

Read more on Mortgage Introducer

Goldman Tennessee Mall Loan Shows CMBS Stirring: Credit Markets
Feb. 17 (Bloomberg) — A mortgage on a Tennessee shopping mall coming due in June may show Wall Street is ready to resume bundling real estate loans into bonds, part of a $700 billion debt market shuttered for almost two years.

Read more on Bloomberg

FSA bans mortgage broker for failing to prevent fraud
An investigation by the regulator found Walthamstow mortgage broker Kevin Byrne accepted mortgage referrals from an introducer but failed to undertake the due-diligence or basic checks on the client information supplied.

Read more on Money Marketing Online

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