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Author: Private Lending Agent
Key Takeaways If you have an existing VA loan, refinancing can help you lower your interest rate, change your loan term, or tap into your home equity. To qualify for a VA mortgage refinance, you must meet certain service, income, and credit score guidelines. The two main options for refinancing a VA loan are an Interest Rate Reduction Refinance Loan (IRRL) and a VA Cash-Out Refinance. If you're an active-duty military member, veteran, or eligible spouse, refinancing your current mortgage into a VA loan is a smart choice. Fortunately, it's not that difficult to qualify for a VA loan refinance,…
This article was originally published in August 2022. This advice applies to any real estate market. I've worked in real estate for 25 years and have seen many ups and downs, including the economic crisis of 2008. Experiences like that really change your perspective on the economic uncertainty we face. We've been blessed with great business over the past few years, but we all knew that wouldn't last, so we need to always keep in mind the extraordinary circumstances that occurred from the spring of 2020 through the spring of 2022. Now is a time when our clients really need…
Understanding the nuances of title insurance policies is crucial for real estate owners and investors. The primary purpose of these policies is to address risks associated with issues such as title, liens, taxes, survey matters, and more. Title policies build on a foundation of protection but contain certain exclusions that affect the coverage provided. These gaps in coverage present potential risks that property owners and lenders must address. In addition to these exclusions, certain exceptions further limit coverage. These exceptions are mostly matters of public record and include: Local government assessments. Public utility easements. Separation records of mineral resources. It…
May 30, 2024 Mark Ferguson Should landlords report rent payments to the credit bureaus? In this article, we'll discuss the pros and cons for landlords and tenants. This topic is often misunderstood, and many people seem to think that landlords are opposed to the idea of damaging a tenant's credit. In reality, landlords may benefit from this more than tenants, but the impact on tenants is complex and can sometimes be harmful. Let's take a closer look. Video Overview Current status of rent reporting Rent payments are not typically reported to the credit bureaus. While some property management companies and…
As the city of Boston desperately searches for ways to lower housing costs for its residents, a proposal to increase commercial property taxes continues to spark fierce debate.Mayor Michelle Wu introduced the proposal in April after the COVID-19 pandemic led to a drop in tax revenues due to a decline in commercial property values. To avoid a spike in taxes that homeowners would have to pay to make up the difference in the city's tax bill, Wu proposed raising the share of the tax bill paid by commercial properties.”This measure is about stability and residential tax relief,” Boston Chief Financial…
Open Shared Link Close Shared Link With inflation showing little sign of easing, the Federal Reserve is keeping interest rates steady in an effort to stave off the economy and bring inflation down to 2% (currently 3.4%). While officials have not given a specific timeline for when they might cut rates, Susan M. Collins, president and CEO of the Federal Reserve Bank of Boston, believes 2% is important. But getting there may take time, Ms. Collins said. “I am realistic about the risks and uncertainties but am optimistic that this can be achieved within a reasonable timeframe if labor markets…
Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews. History of Black-owned BanksBlack-owned banks have a long history of serving Black Americans, and they continue to serve communities today.The first national bank in the U.S. was created in 1791. While it initially opened in Philadelphia, it had branches across the country. But as slavery continued, the bank did not serve…
(Bloomberg) — Big U.S. banks may have more exposure to commercial real estate than regulators realize because of credit lines and long-term loans they offer to real estate investment trusts, according to a new study.Adding indirect lending to REITs increases big banks' exposure to CRE lending by about 40%, say researchers including New York University economics professor Bilal Acharya, a point they argue has been largely overlooked in discussions of the risks the troubled industry poses to lenders.”Everybody is looking at banks' on-balance-sheet lending,” Mr. Acharya, a former deputy governor at the Reserve Bank of India, said in an interview.…
Commercial real estate (CRE) is showing “early signs of recovery” as market activity continues to pick up, according to Blackstone Chief Operating Officer Jonathan Gray.Apple has fixed several security issues in its devices this year.”I'm not saying this is a rapid V-shaped recovery, but when you hit bottom, you should try to deploy capital,” Gray said at the Bernstein Strategy Decision Conference on Wednesday. He noted that most people will remain “very cautious” about the real estate market because of “past negative news,” but that doesn't seem to be the case for Blackstone, the New York-based private equity giant with…