More and more small real estate investors are working with partners these days—and often, multiple ones. As prices have rebounded from their lows during the housing crash, some investors find they need to pool funds with friends, relatives, or others to be able to afford their next flip or rental property. While they’re sharing the eventual rewards, …
Small-Time Real Estate Investors Team Up for Big-Time Profits Read More »
The New York Department of Financial Services is deciding whether lease options (a.k.a. “rent-to-own) should be highly regulated or even banned in that state as “predatory lending.” Last year, the Wisconsin Department of Justice sued Vision Property Management and its various affiliates for using “misleading and deceiving business practices to induce Wisconsin consumers to lease, rent, or purchase uninhabitable properties,” …
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Two-thirds of Millennials who were polled said they have saved nothing for retirement. Many believe they do not need to save because capitalism will be abolished and replaced with socialism, which will take care of their needs. [In other words, they are passively preparing to live on the plantation.] In a hilarious piece that just …
Millennials Not Saving for Retirement, Believing Government Will Take Care of Them Read More »
Though homeowners are gaining equity across the country, the number of underwater borrowers in some areas remains high. The metro with the highest share of homeowners with negative equity is Miami-Miami Beach-Kendall, Fla., where the number of those in the red has grown 13.1 percent year over year, according to a new report from CoreLogic. Nationwide, the …
Baby boomers are moving to retirement hotspots and millennials are moving to the suburbs, according to an analysis of newly released estimates from the Census Bureau by The Wall Street Journal. The population of federally designated retirement destination counties rose at almost three times the rate of national population growth last year. Meanwhile, the suburbs …
In a recent CNN Money article that reads like a press release from the banking industry, Donna Borak reported that a growing number of mortgages being financed by nonbank lenders means that danger is again lurking in the housing industry. Borak led the article with a sub-headline that read, “Low interest rates. Easy credit. Poor …
More CNN Fake News: Nonbank mortgage lenders are “toxic” Read More »
If you buy or sell notes in Florida, you need to jump on this: On March 1 the Florida Senate unanimously passed CS/HB 935 (it unanimously passed the House on Feb. 21), a bill that appears to require anyone who sells business loans to be licensed as a lender. Formerly, companies making business loans solely …
Florida May Require Note Sellers To Be Licensed As Lenders — Urge Governor To Veto Read More »
The Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act and is expected to vote on the bill at some point this week. Late last year the Economic Growth, Regulatory Relief and Consumer Protection Act, which was sponsored by Banking Committee Chairman Mike Crapo, …
Senate May Vote On Dodd-Frank Overhaul This Week Read More »
The former chief operating officer and chief financial officer of a New York mortgage lender admitted in court this week that they conspired to misappropriate more than $8.9 million from warehouse lines of credit that were meant to fund mortgages. According to the U.S. Attorney’s Office for the Eastern District of New York, Edward Sypher, …
More Mortgage Wire Fraud: Execs at Vanguard Funding admit to embezzling $8.9 million Read More »
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