THE Blog

Thank you to all that attended the teleconference about seller paid buy downs.  If you missed the call, and are interested in the information discussed, please let me know.

Keep an eye on THE Blog for future discussions about "The next generation of loans to attract more buyers" 

There’s good news and bad news coming from Freddie Mac.

Ok, the good news first…

Freddie is following suit with Fannie Mae, in that the dreadful "declining market" is a thing of the past. No longer will either Freddie or Fannie require an additional 5% down payment from home buyers in the areas most hurt by declining values. The problem still persists because the Mortgage Insurance companies still have the last say if the down payment is less than 20% and requires MI!  Yes, that’s the good news…

The bad news from Freddie Mac is that for Investment Property Mortgages, a borrower who owns more than one financed property may not own more than four properties that are financed, including the subject property. That is, they will reduce the number of FINANCED properties allowed, from 10 down to four properties owned under any one entity! That fifth property will not be able to be financed. Unfortunately, holding properties in an LLC or similar, may not help if you’re still responsible for the mortgage. It hasn’t been announced yet, but Fannie Mae may similarly revise their policies as well.

There are other changes from Freddie regarding refinancing. It is now required that a property must be owned more than 6 months in order to consider a cash out refinance.

I want to invite you to an upcoming FREE teleconference call coming up on June 12th...
The subject "The Secret Every Buyer and Seller Must Know to compete in today’s “Buyer’s Market”

I will be discussing “How to attract more buyers.” This is a secret every buyer and seller must know to compete in today’s “buyer’s market.”
Discover:

• What is a buy down?
• How it saves your Buyer thousands of dollars
• How it attracts more Buyers
• How it increases your Buyer’s BUYING power
• How to offer a seller a buy down
  

Brian Kondas, “Short Sale Seller,”  owner of Home Financial Solutions, Inc. is hosting and will interview me, Ron Parello, “Investor Loan Pro,” in this FREE Teleconference call on Thursday, June 12, 2008 at 7pm.
Toll-free dial-in number (US and Canada): 1-800-261-3225
Conference code: 8977440 

During this short 30 minute conversation, there will be time for questions as well. 

Please RSVP if you plan to attend, by email to ron_parello@yahoo.com .