Mortgage Update

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Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
RECENT BLOG POSTS
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...
04/23/2011
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-...
04/09/2011
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...
04/08/2011
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: www.fixflipnow.com
04/03/2011
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...
04/01/2011
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...
03/27/2011
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...
03/19/2011
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 ...
03/12/2011
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...
03/04/2011
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 ...
02/26/2011
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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.