New Restrictions Possible on Seller-Financed Notes

Posted by: Carleton Sheets in Seller finance, Seller, Real Estate Market, Real Estate Investor, Real Estate, Property, Note, mortgage originator, Limit, HR 1728, How to Buy and Sell Real Estate, Housing Market, Gift, Assistance on Aug 07, 2009.

As I've mentioned before, seller financing---a great win-win situation for both sellers and buyers---is making a comeback in the current real estate market. However, I've recently read about legislation that will restrict seller financing and possibly hurt consumers, investors, and small businesses.

The bill in question is HR 1728, and its aim is to curb the predatory lending practices of the

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Banks Line Up to Return TARP Funds

Posted by: Carleton Sheets in Real Estate, Lender, Economy, Bailout, Assistance on Mar 13, 2009.

If you have listened to the news over the last few months, you've heard a lot about the Troubled Asset Relief Program (TARP). The media has painted a picture of banks greedily reaching out for our hard-earned taxpayer dollars to keep their doors open ... and then spending those dollars on lavish parties and golf outings. And I'm sure that may be the case with some banks, but not all.

I read an

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Housing Plan In Effect

Posted by: Carleton Sheets in Real Estate, Modification, Lender, Housing Bill, Foreclosure, Barack Obama, Bailout, Assistance, Amortization on Mar 09, 2009.

Last week, the Obama Adminstration put the new housing plan in effect. Under this part of the plan, lenders are given incentives for enacting loan modifications to lower monthly mortgage payments. These modifications would be available not only to borrowers who are currently late on their payments, but may also qualify borrowers who are current on payments but deemed "at risk."

I was reading

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Chase Modification Plan Up & Running

Posted by: Carleton Sheets in Real Estate Investor, Real Estate, Modification, Loan, Lender, JPMorgan Chase, Foreclosure, Chase, Assistance on Jan 22, 2009.

Whether I'm reading the newspaper or reading articles online, I'm always looking for positive news. In a move that I think is a positive step forward, JPMorgan Chase has extended loan modifications to investor-owned loans. According to the article, loan modifications on investment properties could be anything from lowering the principal of the loan, to adjusting the interest rate or the payment

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Proactive Moves from Builders Help Buyers

Posted by: Carleton Sheets in Builder, Assistance on Nov 02, 2008.

As you know, I am a big fan of win-win situations and try to structure every one of my offers so that everyone walks away a winner.

With the slowdown of the home construction industry, builders are stuck with inventories of vacant homes, land, or both, and no qualified buyers. 

Rather then just offering incentives like a new microwave (or, as we talked about a few months ago, a new car),

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More Effects of the Wall Street Crisis

Posted by: Carleton Sheets in Bailout, Assistance on Oct 29, 2008.

I have been following the economy more carefully than usual this past year. From the meltdown of the housing market and subsequent Wall Street crash, I am starting to see the effects eek into the everyday services that we may take for granted.  

The latest casualty I am seeing is public programs. Specifically, I was reading an article in the Washington Post about a special account that the DC

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Will Down-Payment Assistance Make a Comeback?

Posted by: Carleton Sheets in Rescue, HR 1424, Housing Bill, Down Payment, Bailout, Assistance on Oct 01, 2008.

Although the news has been fixated on the "rescue" (formerly known as "bailout") package in Washington, I want to remind everyone that one of the provisions of the Housing Bill that passed last July took effect this week on Wednesday, October 1st ... the end of seller-assisted down payments on FHA loans. However, there has been a movement in the real estate industry to repeal this provision

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