David Saks' Blog

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Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2012 

Alabama Real Estate Investor Agrees to Plead Guilty to Conspiracies to Rig Bids and Commit Mail Fraud for the Purchase of Real Estate at Public Foreclosure Auctions U.S. Department of Justice April 27, 2012 Office of Public Affairs (202) 514-2007/TDD (202) 514-1888   Financial, Fraud, Press Rele...
04/30/2012
                                                       #1640 For hypothetical purposes, a home is located in a low closing cost area of a state and it's selling for $400,000. It was appraised at $410,000. The FHA max ceiling for the loan is $390,000. The maximum amount that the buyer would be abl...
04/30/2012
                                                            #1639 A buyer wants to finance the purchase of a duplex with an FHA loan. The buyer may do this only if the intention is to rent out both of the units. Is this fact true or false ? Please take your time. Te solution is posted below the w...
04/30/2012
                                                                    #1638 The Federal Housing Administration not only insures the loans it sells, but it buys them also. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The Federal Housin...
04/30/2012
                                                          #1637 Secondary financing of a property may always be used to cover the minimum cash investment of the borrower as long as the sum of the two loans exceed the properties value. Is this fact true or false ? (puhleeez, you better not miss th...
04/30/2012
                                                      #1636 If secondary financing is used in alignment with a conventional loan it may never be partially or fully amortized with a balloon payment. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo...
04/30/2012
                                                        #1635 A man is applying for aconventional loan with an LTV of 90%. He has a monthly income of 3000 dollars a month. His total monthly recurring debt obligations equal 500 dollars. What is the maximum monthly mortgage payment that this buyer ...
04/30/2012
                                                        #1634 When we talk about a 2-1 buydown plan we're talking about buying down the interest rate at 1% for two years. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False A 2-1 buydown pl...
04/30/2012
                                                        #1633 When considering a bi-weekly loan, one of the disadvantages is that it will take more time to build equity. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False Equit...
04/30/2012
                                                        #1632 Private mortgage insurance is usually required if the loan-to-value ratio exceeds 80%. Is this true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. True PMI (provate mortgage insurance)...
04/30/2012
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David Saks

Broker / Industry Analyst
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