Paul Bozek's Blog

Here is an interesting article I found on CNBC regarding short sales. I guess a lot of payments have been accepted from sellers from the 2nd lien holders on the property. I have had a recent experience with similar issue that delayed my closing by over 30 days. The POC was on the HUD but Freddie ...

As many of you know, FHA is temporarily suspending the 90 flip rule to stimulate more and quicker sales.  However, until the investors start to implement this guideline, it is just wishful thinking.  It will be very interesting to see what the secondary market on Wall Street says about all this. ...

I found some simple q and a's about the product that answer a lot of questions.  I wanted to share this information with all of you.  If you have any questions or anything is unclear, do not hesitate to post a comment/question or contact me directly. FREQUENTLY ASKED QUESTIONS (FAQ's) What is the...

We are all aware and love the fact that in FHA transactions, we can have a relative gift the down payment.  However, it has been brought to my attention recently that there could be tax complications for the giftor depending on the size of the gift.  I would like to have perhaps some people knowl...

There is no doubt that alternative energy is the way of the future. Many, especially in California, are quite aware of the benefits of going green and using solar energy as an alternative. Using alternative energy is not only a good way to save money on utility bills, but it's also extremely help...

I think this product deserves some more attention so I decided to repost.  We've had much success with it in the last recent couple months.  The closings don't appear to be delayed much if any because of the product.  We've been running into 45-60 day escrows because of last minute problems with ...

I'm coming across many buyers and agents asking about what can be used for down payment now that the seller assisted down payments are gone.  I have copied below from the HUD handbook as to what are acceptable down payments.  As you can see, buyers can "borrow" these funds as logn as they are one...

I was curious to see what people have out there when it comes to hard money.  I am interested to see what LTV private money lenders will finance using After Repair Value.  I heard that there are lenders out there that will actually let you do 100% purchase off sales price based on the ARV.  The #...

I think these numbers were expected.  On a positive side, we should continue to see activity from first time home buyers and investors trying to take advantage of the more affordable market. Loans in foreclosure have doubled over the past year, while delinquency rates continue to soar. A record 1...

The trend has been steadily pointing towards mortgage brokers being fazed out.  I think many major companies will follow suit and reduce retail and completely shut down wholesale divisions.  Hopefully in the process we don't hit more of a slump due to transition in lending practices. The lender s...