Someone the other day asked me “How do I explain these loans to a client?” There is an excellent article a few days old that asks an outstanding question. “Who needs a proprietary reverse mortgage not the usual HECM.” Answer: A homeowner of an expensive home who wants more money out with no payments. Here is […]
On Season The basketball season is over. It finally ended halfway thru June. Good to see the underdog win this year and yea for Canada. Off Season Now the off season begins in earnest. Already the LAKERS have gone big and arranged a trade for Anthony Davis. They did mortgage the future a little. As […]
LIVE Courses Our Company Specializes In LIVE Courses To Become A Real Estate Salesperson Or Broker, A Mortgage Loan Originator, Or A Notary. We also have LIVE courses to renew all of these licenses. We offer courses only in California, so we know the territory much better than out-of-state companies. FIRST QUESTION: WHY TAKE LIVE? 1. Pass AnyExam On […]
Winners and Losers Gary Woodland wins the US Open at Pebble Beach. Brooks Koepka does not win his third open in a row and Tiger finishes down the line. I was in Las Vegas the week before the Open and happened to be in a Sports Bar picking up some Clemson earnings from New Years. […]
How It Works Instead of tuition Lambda School of the Bay Area charges a cut of future earnings. They teach information technology skills online, charge zero tuition, and offer stipends to select students. The deal is that students pay back 17% of their first two years income if the earnings exceed $50,000.00 with a maximum […]
Tax-Deferred When people talk about 1031 Real Estate Exchanges, they use the word Tax-Free. The correct word is Tax-Deferred. You will be paying the tax sometime later. And in every exchange one party is normally going to be taxed, unless they are also doing an exchange. You can have several legs to an exchange, but […]
Trust Fund Management In my real estate classes I ask a question and many licensees do not know the correct answer. Ready? What is a worse crime in Trust Fund Management? Commingling or Conversion. They answer commingling because licensees are taught from their first class, never mix your personal funds with trust funds. Conversion according […]
Last URLA Post The last post was written early morning on the 12th of June. The following link discloses that the effective dates were changed and now no one knows when they will start. The lender and servicing lobby strikes again. Will pass along the information when we find it. Theresa Ballard, Compliance Icon from […]
Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. There will be a new Lender Loan Information Form. This information was formerly on the URLA. Now, it […]
URLA Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. New Lender Loan Information Form There will be a new Lender Loan Information Form. This information was […]
