Mortgage / Finance

Anybody that's hung around the ActiveRain “water cooler” for any length of time understands the value of the relationships built on the site. AR is so much more than a social networking site, however.


It's also the place to get up-to-the-minute information on topics that affect your clients. Ask yourself: what's the most confusing aspect of buying a home for the real estate consumer? The answer is most likely financing the purchase. Credit scores and how they affect the mortgage rate, types of loan products, points, fees – whew! -- there's a lot to know about mortgages.


To serve your clients effectively you need to know about this stuff and keep abreast of changes in the mortgage industry. Thankfully, ActiveRain is not only popular with real estate agents and brokers but with finance professionals as well.


Whether you're an agent trying to figure out what the Fed's latest move means to your clients or a mortgage pro who needs input on how to build relationships with real estate agents, ActiveRain is the place to tap into a wealth of knowledge.

Recent blogs on Mortgage / Finance
By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
In previous posts we’ve discussed the IRS Collection process - including items such as “Reasonable Collection Potential” (RCP) and the “Statute of Limitations” (SOL). These terms are relevant to this discussion so you should review the Collections post before continuing on with this post.The most common tax debt settlement solution used by taxpayers is referred to as an Installment Agreement (IA). This type of arrangement allows for payment of a tax debt over time. Note that for the period of time that any tax obligation remains outstanding interest continues to accrue on the unpaid balance. This payment arrangement provides two benefits - it stops the IRS from other collection activities (i.e. seizing of assets) and provides for tax debts to be paid over time.If you’ve read our previou...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
Absolutely - this means the IRS is about to take your stuff.Let’s back up a bit. A levy is the seizure of your property. This property can be real or personal - your home, land, a vehicle, money in your bank account, etc. This sounds like a dramatic step for the IRS to take - and it is. However a tax collection case to getting to this stage generally involves a lack of action being taken by you (those notices that the IRS keeps sending that end up in the trash), or you’ve been contacted the IRS, they have requested information and you haven’t responded.Before property can be levied the IRS must provide to the taxpayer: Notice and Demand Notice of Intent to Levy Notice of the Right to a Hearing The IRS can’t just start taking your property because you owe taxes. In most situations our ex...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
Consider this common scenario - you owe the IRS for back taxes - you think you’ve come up with a plan to put the debt behind you - you can sell your home, pay off your mortgage, pay off the IRS, and have a few dollars left over.You list your home for sale and, lo and behold, you discover that a potential buyer has disappeared.  Apparently the IRS has put a lien on the house.  What happened and what do I do next??If you’ve read our previous posts you know that the IRS automatically obtains a lien against all your property if you fail to pay your taxes.  This “silent” lien arises automatically after the IRS demands payment and there is no payment. In connection with this lien the IRS files a Notice of Federal Tax Lien (NFTL) against the taxpayers property.  This is the public notice of th...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
I just received a letter from the IRS - they say they filed a lien against my house - does that mean they are planning to take it - help!The short answer is no - filing the lien does not mean they intend to take your house. In this post we’ll describe how the IRS uses liens in connection with collecting back taxes.Before we talk about liens lets back up a bit. In the US we have what is referred to as a “voluntary” tax system - the IRS relies on taxpayers to file tax returns and make payments.After filing a tax return the IRS “assesses” the tax reflected on the return (basically they record the tax debt in their records). The assessment date is not the date you file a return or the date received by the IRS - it is the date the tax liability is recorded. Typically this happens shortly aft...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
The IRS wants your money! We all know this but what happens when taxpayers either don’t file tax returns or don’t make payments with filed returns?You diligently gather all your tax information and prepare a tax return. Unfortunately the returns show a balance due and you don’t have the money to make a payment. So you do nothing… Now the next year rolls around - this time you don’t even prepare a tax return - you’re worried that filing a return this year will highlight the fact that no return was filed last year. And the cycle repeats…Then the IRS contacts you because it has information from third parties that show that you should have filed a return - a W-2 from your employer, a 1099 from your client, a 1099 from your bank.Now full blown panic sets in - what do you do?First things firs...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
You have tax debt and need help. We’re here to walk you through the tax collections process and develop a personalized plan to address your tax situation.Let’s review our debt resolution process.To begin with we can assist at any stage of the process: Are you about to file your tax returns but don’t have enough money to send in payment - we can help Are you receiving notices from the IRS about your tax debt - we can help Did the IRS notify you that they intend to file a Notice of Tax Lien - we can help Were you just notified that the IRS intends to seize / levy your property - we can help Has the IRS already started taking your property - we can help In other words it’s never too early or too late for us to help.First up - who am I / why should you trust me to resolve your tax debt. I’m...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Four Things That Help Determine Your Mortgage Rate If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice. Your Credit Score Credit scores can play a big role in your mortgage rate. Freddie Mac explains: “When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back yo...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Saving for a Down Payment? Here’s What You Should Know. As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why. The 20% Down Payment Myth If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless it’s specified by your loan type or lender, it’s typically not required to put 20% down. According t...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Expert Forecasts on Mortgage Rates If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow? As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts. Experts Project Mortgage Rates Will Stabilize While mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll start to stabilize in the months ahead. According to the latest projections, mortgage rates are exp...
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By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Conventional 30 year Mortgage: 5.875%Credit score:740LTV:75%Loan Amount: $300kAPR: 6.415%FHA 30 year: 6% Credit Score:740LTV:96.5%loan amount: $300kAPR: 6.915%Conventional 15 year: 5.25%Credit score:740LTV:75%Loan Amount: $300kAPR: 5.335%Rates are Subject to ChangeCall me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible. 
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By Charles Ross - (785)-819-6944, Love To Help People
(eXp Realty LLC Salina Group)
Are you thinking about purchasing a home but unsure if your credit is ready? Don’t worry; you’re not alone. Many people are in the same boat. The good news is that you can do some simple things to get your credit ready for a home purchase.Follow these seven tips, and you’ll be on your way to credit success! Know your credit score. Understand what's in your credit report. Stay current on your payments. Check for errors on your credit report. Pay down your debt. Manage your credit limits. Don't apply for new credit before buying a home. By following these tips, you’ll be ready to get credit ready to purchase a home.Know your credit score Your credit score is one of the most critical factors in determining whether or not you will be approved for a home loan. If you don’t know your credit s...
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By Matt Brady, One of San Diego's Best Lenders
(Watermark Capital)
We received unemployment and labor data last Friday and markets rejoiced on the news. Although unemployment ticked lower, there were signs of a weakening labor market that investors focused on.Nonfarm payrolls increased by 223,000. Even though this was above expectations, it was lower than the 256,000 increase from the prior month.Another sign of weakness was wage growth. Wages increased by 0.3% for the month, versus the 0.4% expectation.The Fed has mentioned how they need to keep rates high partially because of the strong labor market. They believe a strong labor force will put pressure on prices for goods and services, thereby keeping inflation high.The labor market remains strong but this is one of the first times we have seen signals of softening, and that is all that was needed fo...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP As you plan ahead to sell your house and make your move, you may be wondering what lies ahead for mortgage rates and home prices. Here’s a look at expert insights on where both may be headed so you can make the most informed decision possible.    Mortgage Rates Will Continue To Respond to Inflation   There’s no doubt mortgage rates skyrocketed in 2022 as the market responded to high inflation. The increases we saw were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% in the fall. It was the first time they’d risen that high in over 20 years.   In their quarterly report, Freddie Mac explains just how fast the climb in rates has been...
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By Tamra Lee Ulmer, NRBA ~FORCE~ Over 1000 REO Assets SOLD!
(Arizona Resource Realty)
As you plan ahead to sell your house and make your move, you may be wondering what lies ahead for mortgage rates and home prices. Here’s a look at expert insights on where both may be headed so you can make the most informed decision possible.  Mortgage Rates Will Continue To Respond to Inflation There’s no doubt mortgage rates skyrocketed in 2022 as the market responded to high inflation. The increases we saw were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% in the fall. It was the first time they’d risen that high in over 20 years. In their quarterly report, Freddie Mac explains just how fast the climb in rates has been: “Just one year ago, rates were under 3%. This means that while mortgage rates are not as high as they were in the 80s, they have m...
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By Emily Medvec, Broker | Realtor | Serving Santa Fe & Northern NM
(eXp Realty LLC)
Mortgage Interest Rates continue to vary from day to day as both Buyer and Sellers adjust to the mortgage rate shock begun in 2022. Here is a general interest rate update for your information and home buying plans as of today. Program                                                         Rate                                     APRConforming 30 Year Fixed                         6.625%                                 6.07%Conforming 15  Year Fixed                         6.000%                                6.128%Jumbo 30 Year Fixed                                  6.375%                                  6.417%Jumbo 15 Year Fixed                                   6.375%                                  6.551%FHA 30 Year Fixed                                       6.250%              ...
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By Joseph Orabona, Your defense against the IRS
(Vector Tax & Accounting LLC)
Tax season can be a time of great anticipation for millions of Americans with dreams of a nice, big, refund check coming soon. Yet this year, many Americans may find themselves surprised and coming up short on their refunds.Many taxpayers have been shocked to find that this year, instead of a big tax refund check arriving in the mail, they are being saddled with an unexpected bill from Uncle Sam. The combination of recent tax law changes and updated employer withholding tables has left individuals scrambling to figure out how to pay for their new IRS obligations due at filing time.If you're worried about a looming tax bill, never fear. There are measures you can take to ensure that your taxes don't unexpectedly balloon. From budgeting tips to what do when the worst happens, these strate...
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By Otis Duffy, Otis Duffy Centum Broker of Record NY, NJ & FL
(Centum Real Estate Group)
Commercial Property Assessed Clean Energy (C-PACE) loans are a financing option for property owners to fund energy efficiency and renewable energy improvements. C-PACE loans are attached to the property, rather than the owner, which means that if the property is sold, the loan stays with the property and is repaid by the new owner. This feature of C-PACE loans, combined with strict underwriting standards, has resulted in a low risk of default. Studies have shown that C-PACE loans have a low default rate, with one analysis finding a default rate of just 0.1%. This low default rate can be attributed to the fact that C-PACE loans are only available to property owners with good credit and sufficient equity in their property. In addition, C-PACE loans are only approved for projects that are...
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By Otis Duffy, Otis Duffy Centum Broker of Record NY, NJ & FL
(Centum Real Estate Group)
As a commercial property owner, you may be interested in making energy-efficient upgrades to your building. One financing option that can help you pay for these upgrades is Commercial Property Assessed Clean Energy (PACE). PACE financing allows you to borrow money from a lender to pay for energy-efficient improvements to your property, and then pay back the loan through a special assessment on your property tax bill.While PACE financing can be a great option for many commercial property owners, it's not always easy to get banks to consent to it. Banks may be hesitant to lend money for PACE projects because they are not as familiar with the program and may be concerned about the risks. However, with a little persistence and the right approach, it is possible to convince banks to support ...
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By Otis Duffy, Otis Duffy Centum Broker of Record NY, NJ & FL
(Centum Real Estate Group)
Off-balance sheet capital refers to financing arrangements that are not reflected on a company's balance sheet, but still impact its financial position. One form of off-balance sheet capital that has gained popularity in recent years is commercial property assessed clean energy (CPACE) financing.CPACE financing allows businesses to finance energy efficiency and renewable energy improvements to their commercial properties through long-term assessments on their property tax bills. Because the financing is tied to the property rather than the company, it is considered off-balance sheet capital.One of the main benefits of using CPACE financing is that it can help a company to maximize its capital structure. By using off-balance sheet financing, a company can preserve its on-balance sheet cr...
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By Otis Duffy, Otis Duffy Centum Broker of Record NY, NJ & FL
(Centum Real Estate Group)
If you own a commercial or multifamily property, you may be looking for ways to increase the capital of your development. One option to consider is C-PACE (commercial property assessed clean energy) financing. What is C-PACE? C-PACE is a financing tool that allows property owners to fund energy-efficient and renewable energy upgrades to their properties. The financing is provided through private capital providers and is repaid through a voluntary assessment on the property's tax bill. How can C-PACE help boost the capital of my development? There are a few ways that C-PACE can help boost the capital of your development: Energy-efficient upgrades can reduce energy costs, which can increase the profitability of your property. C-PACE financing can be used to fund a wide range of upgrades,...
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