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Real Estate - Original Content

Note Investing

How to Build a Mountain of Wealth Outside of the Stock Market

Seems like every time I either turn on the TV or read business articles all I see is that the Market is approaching a correction.  To me, that does not mean...
Affordable Housing

Evansville Promise Zone Partnership Announcement

If you are available please join us on Monday, February 11th at 1:30 pm CST to announce our new affordable housing partnership. The Promise Zone has formed a partnership with TruVest...
The Platform Journey

I Couldn’t Believe It!!!

I Couldn’t Believe It! I did not know what to do! I have never built a platform But John and Mike have really stepped up and have gotten knee deep with me (Not their...
real estate

September carries greatest single-month-default surge in a ten-year period

Home loan defaults rose in September, producing the most extensive single-month-default increase in many years. Defaults accelerated to 13.2% in September, the most substantial month-to-month increase since November 2008. This increased the...

Creating Value Means What…..

Earlier this week I spoke with a good friend about how he handles his LinkedIn account and online experiences. He told me that the majority of his connections were just looking...
Retirement

How to Build a Mountain of Wealth Outside of the Stock Market-Part 2

Another week has come and gone and the Markets finished on a downward slide. I am sure some of you are experiencing some heartburn with your investments. Are you being proactive...

TRENDING

No Pay Stub? No Problem. Unconventional Mortgages Make a Comeback

Ms. Hering’s case highlights how a flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. Lenders issued $34 billion worth of these unconventional mortgages in the first three quarters of 2018, a 24% increase from the same period a year earlier, according to Inside Mortgage Finance, an industry research group. Even so, some regulators, consumer advocates and others worry that the growth in this type of mortgage and rising competition to make such loans could lead to renewed risks for the housing market. But traditional lenders, which are doing less conventional business as interest rates rise, are turning to borrowers with harder-to-document creditworthiness as a new source of revenue and are helping to drive the growth. Tom Jessop, the loan consultant at New American Funding who handled Ms. Hering’s loan, said he has seen demand for unconventional loans double over the past 18 months and they currently makes up more than one-third of his business. “As more companies enter the space you’re going to see more competition, and with more competition, you’re going to see loosening of underwriting” standards. Photo: Jessica Pons for The Wall Street Journal In many unconventional loans for which it is difficult to document income, borrowers use bank statements like Ms. Hering did to show they are making money. Newsletter Sign-up Ms. Hering, who is 30 years old, received a loan at a rate of just over 6% for the first five years; it adjusts after that. She used the money to fully buy out her grandfather’s house in San Clemente, Calif. She jointly inherited it with other relatives and said she needed a loan to pay them for their shares of the property. “It was scary because if it didn’t work out then I would have had to give up the house, but I was determined to keep it,” said Ms. Hering, who is renting out rooms in the house to help pay the mortgage.