Someone owns a house free and clear — no mortgage. They sell their house for $200,000, receive a $40,000 down payment from the buyer and take back the $160,000 balance as a note, an IOU, from the buyer, where he promises to pay the $160,000 plus interest in installments. The note is secured by the …
The Colorado Real Estate Commission says Dodd Frank is too complex and creates liability for both the Realtor and seller. They have basically told Realtors not to get involved in any seller financed transaction. They say refer buyers and sellers to a LO or a lawyer instead. You can’t find a LO who wants to …
The ninety two year old 1031 exchange statute is once again the target for abolishment in current tax reform proposals. READ MORE: http://www.landthink.com/proposed-tax-reform-includes-ending-1031-exchange/
Authorities in Long Island have launched a crackdown on homeowners who rent their house out to tenants who have not been registered under a “zero tolerance” program that will see police conduct home inspections without notice. Landlords in the Long Island community of Westbury will be targeted by a newly created police “Housing Enforcement Unit” …
Cops to Inspect Homes Without Notice For Illegal Rentals Read More »
Tom Axon’s mortgage-collection firm gets about 25 calls a day from delinquent homeowners’ brokers seeking approval to sell their houses for a loss and avoid foreclosure. We’ll help, his staff tells them, as long as we get paid enough. Axon, working with co-investors, buys distressed U.S. home- equity loans and other junior real estate liens, often for …
Whether you may rent out your home in Winona, Minn. is now up to the government. You need to buy a permit. But that’s not all. Permits are rationed based on a completely arbitrary percentage. It all depends on when you tried to get a permit and whether you happen to live on a block where other homeowners have already gotten one. The local government grants only …
By Franklin Sanders, www.the-moneychanger.com “On 25 February 1791 President George Washington signed a bill chartering the first Bank of the United States. Y’all look at that. The ink wasn’t dry on the Constitution before those banks sneaked in there & tried to take a stranglehold on the whole country. Everybody was worrying about standing armies …
The more things change, the more they stay the same Read More »
Many of our PAPER SOURCE subscribers do “Lonnie deals” (named after Lonnie Scruggs who pioneered the concept) — they buy used mobile homes at a discount for cash and sell them to owner-occupants at higher prices on easy terms. If you do Lonnie deals, or plan to, you need to know that the Dodd-Frank regulations …
70 million customers of Target stores had their credit information stolen last year. Now Target is offering free credit monitoring and ID theft protection for one year, and YOU DO NOT HAVE TO BE A TARGET CUSTOMER TO RECEIVE IT. Click here for info: https://corporate.target.com/discover/article/free-credit-monitoring-and-identity-theft-protecti
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