Mortgage Update

Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
The reason liquidation values of 1-4 unit, rehab, REOs are so low is because other than the FHA 203K (Prospect is the #2 FHA 203K lender in the country) there are no mainstream financing programs available. For investors there is no financing at all! In addition, seller ("the bank") usually wants...
We look for low risk, reasonable returns, and no complications. The real estate market may be "bad" at the moment, but for our type of investments conditions are "excellent"! • Our developers buy 1-4 family properties at rock bottom prices, and rehab them with lightning speed. • The homes are re-...
As many as 1 in 3 applications are declined, so says the Fed. My average definitely better :) but the fact is that the current maze of regressive rules is a real challenge - and risk-based pricing makes getting the best rate difficult to attain. More info. /// It's about time! A homeowner is suin...
Fix-flips are lucrative because lenders need to liquidiate. The fact that there is no mainstream investor financing available further suppresses the liquidation price. LX Financial can fund up to 100%xcost. We need ARV 150%xcost. Go here for a scenario quote:
Inside JobIf you have not seen the movie yet, see it soon.  Inside Job the 2010 documentary film about the financial crisis of 2007-2010, directed by Charles H. Ferguson. The film won an Academy Award for Best Documentary Feature last month. It's sad, also educational - and also more than a littl...
The most secure RE investment is a mortgage. And the most profitable one is - well also a mortgage (See bottom) /// Stated loans are still readily available. Summary below... ///  Rates edged up a bit last week, but 30-yr fixed is still below 5.00%.  - P Seeking GC near Flanders NJ 07836I arrange...
Fix-Flips can be lucrative, but much can go wrong, with time wasted - opportunity and money lost. Just to name a few challenges: * Finding opportunites and dealing with REO and short sale tribulations.* Project funding. There is basically no bank financing available.* The challenges involved in g...
March 12, 2011                                         Flip rules frustrating a resale? There is no need for this. A little planning and doing the right things can avoid it. /// Many of us evaluate our finances around tax time. Details below if you want to consider (IRA) private money lending as ...
The purpose of credit fixing in my realm is to get people mortgage ready - quickly. It can always be done, but not always quickly. Credit fixing is fickle business: We need to do the right things in the right order!On top, there is a lot of (mis-) information out there. People will start quick se...
Stock market down, rates down. (See below). The Middle East situation and declining stock markets are reducing rates here at home. ///  HAFA (Home Affordable Alternatives) is starting to make more sense now that HAMP (Home Affordable Modification Program) has matured somewhat. More on how I can ...

Paul Luykx

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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.