I remember years ago the commercial,” I’ve fallen and I can’t get up.” I always laughed at the commercial. Now, I’m 70 I don’t find this funny anymore.

I never knew any of my grandparents, but I was fortunate enough to know my great-uncle, who was my grandfather’s brother. My grandfather, Alfonso, arrived with his brother Francesco in New York around 1900. The brothers were born in Cava de’ Tirrini, a city in the Campagna region of southern Italy. The brothers didn’t take to American life; one example would be never really learning English.

My grandfather Alfonso died soon after the Depression, and his brother Francesco became my surrogate grandpa. Zio “Cheech,” as we called him along with Grandpa. He lived in Corona, New York, lived to be 86, and died in 1964, when I was ten. My memories are fading with age. However, I do vividly recall his basement in Corona. The walls were decked with the Sunday comics from The Daily News, “Terry and the Pirates, and “Gasoline Alley.” The old guy never understood the text of the comics; he loved the colors, and they were everywhere.

He had a modest garden of tomatoes, herbs, peaches and grape vines. He also made his own wine. One memory I will always remember was his smell; he smoked DiNapli cigars, short smokes we called “Guinea Stinkers,” and he wore the same old, grey sweater.

My parents would visit every Sunday for dinner in Corona. As soon as we arrived, he took me down to the cellar. I was the youngest and clearly his favorite. He showed me the latest edition of Sunday comics, and he always smiled. Then he’d sit me down and pour me some home-made wine. I was eight back then. He would slice a piece of peach and put it in our wine glasses. The wine was so strong in alcohol that it had to be cut with the sweetness of the peach. The “Godfather” scene at the end depicts Cheech in a tee, peach, and gray sweater.

He would serve wine in Flintstone jelly jars. I had a serious crush on Wilma until I was twelve.

What I would give for one more visit down his cellar, drinking wine and smelling those nasty cigars.

I can across a company called “United Wholesale Mortgage.” Has anyone heard of them?

https://www.youtube.com/watch?v=CyS65ltez9M

Two women talking: “How did you meet your husband?” The other woman replies, “When I was working in the pharmacy, he came and asked for condoms, size XXXXXX. I didn’t realize until we were married that he stuttered.”

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.

https://www.youtube.com/watch?v=DKc3j8GMqGo

Another message from the one and only, Kevin DeLory. Thank you Kevin, for sharing

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https://www.youtube.com/watch?v=QnX3awAX1z0

Is the bird flu really here, or is it COVID-19 in disguise? The strain is HSN1, another flu strain, and each year they are getting worse, or are they really? In 2013, 900 people contracted the bird flu, and more than half died. Is this enough to be a pandemic?

Farmer workers and ranchers are at the highest risk of coming down with HSN1. I was unable to find where the 900 people got sick. I’m almost certain they worked on farms and ranches that lacked regular monitoring. Mostly found in meat and dairy, bird flu arrives and, voila, the price of eggs goes up, which has happened in the past few years.

I was amazed at the death statistics for flu deaths during COVID; there weren’t as many as previous years. I think all the flu stats were compiled together with COVID to make COVID worse. Thousands of people die of the flu each year, but not during COVID years. It was once called Trump’s flu.

With the election this November what will this flu be called, will CDC call it a pandemic? Or will it be a political stratagem? Biden Bird Flu, Biden Goodbye Flu, Trump’s Flu II. Both parties will cause chaos and come to the rescue, too bad the public will suffer.

It’s time to stock up on toilet paper and common sense.

What is the difference between mortgag bankers, correspondent lenders, mini-correspondent lenders, mortgage brokers, retail loan officers, and wholesale mortgage lenders?

When using child support as income, which of the following is required to verify the income for an FHA loan?

Gov. Ron DiSantis just passed a law in Florida, forbidding the release of balloons. The balloons are a danger to the wildlife along the beaches. So, if you have a beach party and lease balloons to celebrate you may be arrested or fineD. However, people under 6 years old are exempt from this law. What do the police do when a child’s age is questionable? “Hey pal pull over and show me your ID.”

7(a) loans

SBA’s most common loan program, which includes financial help for businesses with special requirements.

Content

1. What is a 7(a) loan?
2. Am I eligible?
3. How do I use the 7(a) loan?
4. What do I need to apply?
5. How do I pay back my 7(a) loan?
6. Existing borrowers

What is a 7(a) loan?

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is a good option when real estate is part of a business purchase, but it can also be used for:

• Short- and long-term working capital
• Refinancing current business debt
• Purchasing and installation of machinery and equipment
• Purchasing furniture, fixtures, and supplies

The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

Am I eligible?

To be eligible for 7(a) loan assistance, businesses must:

• Operate for profit
• Be considered a small business, as defined by SBA
• Be engaged in, or propose to do business in, the United States or its possessions
• Be able to demonstrate a need for a loan
• Use the funds for a sound business purpose
• Not be delinquent on any existing debt obligations to the U.S. government
• Be creditworthy and reasonably assure repayment of the loan

Some businesses may not qualify for a 7(a) loan. Read more about Terms, conditions, and eligibility.

How do I use the 7(a) loan?

Basic uses for the 7(a) loan include:

• Long- and short-term working capital
• Revolving funds based on the value of existing inventory and receivables
• The purchase of equipment, machinery, furniture, fixtures, supplies, or materials
• The purchase of real estate, including land and buildings
• The construction a new building or renovation an existing building
• Establishing a new business or assisting in the acquisition, operation or expansion of an existing business
• Refinancing existing business debt, under certain conditions

What do I need to apply?

The contents of the loan application generally vary depending on the size of the loan and the lender’s processing method. When you’re ready to apply, begin the process by working with your lender to determine which documents they will require you to provide.

The loan application documents required will generally include SBA Form 1919, Borrower’s Information Form. Use the following checklist to ensure you are prepared if your lender asks you for any of the following information:

• Borrower information form (required): Complete SBA Form 1919 and submit it to an SBA-participating lender.
• Financial statements (as applicable): The lender may require personal financial statements for the applicant(s) or owner(s) of the applicant.
• Business financial statements (as applicable): Submit the following to help show your ability to repay a loan:
  • Profit and loss statement – Current within 180 days of your application. Also include supplementary schedules from the last three fiscal years.
  • Projected financial statements – Include a detailed, one-year projection of income and finances and explain how you expect to achieve this projection.
• Ownership and affiliations: Provide a list of names and addresses of any subsidiaries and affiliates.
• Business license or certificate (as applicable): Provide a copy of the original business license or certificate of doing business. If your small business is a corporation, stamp your corporate seal on the SBA loan application form.
• Loan application history (as applicable): Include records of any loans you may have applied for in the past.
• Income tax returns (required for the lender to verify applicant’s size): Include signed business federal income tax returns of your business for the previous three years.
• Resumes (as applicable): Include personal resumes for each principal.
• Business overview and history (as applicable): Provide a history of the business and its challenges. Include an explanation of why you need the SBA loan and how it will help your business.
• Business lease (as applicable): Include a copy of your business lease, or a note from your landlord, with the terms of the proposed lease.

If you are buying an existing business, gather the following information (required):

• Current balance sheet and profit and loss statement of the business being acquired
• Federal income tax returns for the previous three years of the business being acquired
• Proposed bill of sale/purchase agreement, including the terms of sale
• Asking price with schedule of inventory, machinery and equipment, and furniture and fixtures

You may be required to submit more SBA forms based on the specific use of proceeds or fees paid on a loans package or to a broker or agent.

How do I pay back my 7(a) loan?

Loan repayment terms vary according to several factors.

• Most 7(a) term loans are repaid with monthly payments of principal and interest from the cash flow of the business
• Payments stay the same for fixed-rate loans because the interest rate is constant
• For variable rate loans, the lender may require a different payment amount when the interest rate changes

sba.gov

7(a) loans | U.S. Small Business Administration

7(a) loans | U.S. Small Business Administration

Worthwhile video from Santa’s Surfing Worthwhile Watching.

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6/25/2024 - Julian Free - Fed Reserve Hacked - Big Pfizer lawsuits! Greatness from God!

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AirBnB’d property owners are seeing a lack of business.

My friend Greg Stadlin of Collier RV in Northern Illinois referred me to one of his clients, David. David did a complete renovation of his 37 feet RV which included two new slide outs. I spoke with David today and he said he spent $150,000 to renovate his RV with two new slide outs, interior and exterior. He will send me pictures of before and after of his RV. I can stop by the storage at Collier RV and take a look. I have a 2001 Tiffin Zephyr 42 ft. coach with only 52,000 miles I was thinking of trading in for a newer one but am afraid of losing value. RVs depreciate more than any other property or vehicles.

Do German Shepherd dogs require a fenced yard. My homebuyer finally found their forever house. Problem is the house is in South Barrington, Illinois where all homes are in subdivisions. Subdivision HOAs ban fences on all homes. Homes have a one acre minimum. My buyers put a deposit on two German Shepherd dogs wanted to put a fence for them. Their late Old English Mastiff never needed a fence. What are your thoughts on German Shepherd dogs. Are German Shepherd dogs runners in nature like hunting dogs or can they be trained to stay on your property without a fence.

Buying a house in Kansas, like anywhere else, involves several steps and considerations. Here’s a general overview of the process:

1. Determine Your Budget: The first step in buying a house in Kansas is to assess your financial situation and determine how much you can afford. Consider factors like your down payment, monthly mortgage payments, property taxes, insurance, and maintenance costs.

2. Get Pre-Approved for a Mortgage: Before you start house hunting, it’s a good idea to get pre-approved for a mortgage. This will give you a better idea of how much you can borrow and help you narrow down your search to homes within your budget.

3. Find a Real Estate Agent: Hiring a real estate agent can make the process smoother. They can help you find suitable properties, negotiate offers, and navigate the local housing market.

4. Search for Homes: Start looking for homes that meet your criteria. You can use online real estate websites, work with your real estate agent, and visit open houses to find potential properties.

5. Make an Offer: Once you’ve found a house you like, work with your real estate agent to make an offer. Your offer will include the purchase price, contingencies (such as inspections and financing), and a proposed closing date.

6. Negotiate and Inspect: After your offer is accepted, you’ll typically have the opportunity to negotiate any counteroffers. You’ll also want to schedule a home inspection to identify any potential issues with the property.

7. Secure Financing: If you haven’t already, finalize your mortgage financing. Work closely with your lender to complete all necessary paperwork and meet any conditions for loan approval.

8. Close the Deal: Once all contingencies are satisfied, you’ll proceed to the closing. At the closing, you’ll sign the final paperwork, including the mortgage documents, and pay any remaining closing costs and fees.

9. Transfer Ownership: After closing, the title to the property is transferred to your name, and you become the legal owner of the house.

10. Move In: Congratulations! You can now move into your new home. Don’t forget to set up utilities, change your address, and handle other logistics associated with moving.

It’s important to note that the process of buying a house can vary depending on individual circumstances and the local real estate market in Kansas. Additionally, you may want to consult with a real estate attorney to ensure all legal aspects of the transaction are handled correctly. Also, be aware of any specific state or local regulations and requirements that may apply in Kansas.

Buying a house in Kentucky, like anywhere else, involves a series of steps and considerations. Here is a general overview of the process:

1. Determine Your Budget: Before you start searching for a house, it’s essential to determine your budget. Consider factors like your income, expenses, and how much you can comfortably afford for a mortgage payment each month.

2. Get Pre-Approved for a Mortgage: Contact a lender or mortgage broker to get pre-approved for a mortgage loan. This will help you understand how much you can borrow and give you a competitive edge when making an offer on a house.

3. Choose a Real Estate Agent: Find a qualified real estate agent who is familiar with the Kentucky housing market. They can help you find suitable properties, negotiate on your behalf, and guide you through the process.

4. Start House Hunting: Begin your search for homes that fit your criteria, including location, size, and budget. You can use online listings, work with your real estate agent, and visit open houses to explore available options.

5. Make an Offer: When you find a house you like, work with your real estate agent to make an offer to the seller. Your offer will include the purchase price, any contingencies, and the proposed timeline for closing.

6. Negotiate the Deal: Be prepared for negotiations with the seller. They may counter your initial offer, and you can negotiate on terms such as repairs, closing costs, and other details.

7. Conduct Inspections: After your offer is accepted, schedule a home inspection to identify any potential issues with the property. Depending on the inspection results, you can negotiate repairs or request concessions from the seller.

8. Secure Financing: Finalize your mortgage application and work with your lender to ensure all required documentation is in order. The lender will also conduct an appraisal of the property to determine its value.

9. Review and Sign Documents: Prior to closing, you’ll review and sign various legal documents, including the purchase agreement, mortgage documents, and other paperwork required for the transaction.

10. Close the Deal: On the closing day, you’ll meet with the seller, your real estate agent, and a representative from the title company to sign the final paperwork and transfer ownership of the property. You’ll also pay any remaining closing costs and receive the keys to your new home.

11. Move In: Once the deal is closed, you can move into your new home and begin settling in.

Keep in mind that Kentucky’s real estate market may have its unique dynamics and regulations, so it’s essential to work closely with a local real estate professional who can provide specific guidance and information related to the state.

Additionally, consider factors such as property taxes, homeowners’ insurance, and ongoing maintenance costs when budgeting for homeownership in Kentucky.

Whether Maine is a good place to live depends on your personal preferences and priorities. Maine offers several advantages, but it also has its drawbacks. Here are some factors to consider:

Pros of Living in Maine:

1. Natural Beauty: Maine is known for its stunning natural landscapes, including rugged coastlines, picturesque lakes, and dense forests. If you enjoy outdoor activities like hiking, camping, and fishing, Maine offers abundant opportunities.

2. Quality of Life: Maine often ranks highly in terms of quality of life metrics, including low crime rates, good healthcare, and a strong sense of community.

3. Four Seasons: Maine experiences all four seasons, which can be appealing if you enjoy a variety of weather conditions and outdoor activities associated with each season.

4. Education: Maine has some excellent schools and universities, making it a good place for families looking for educational opportunities.

5. Lobster and Seafood: Maine is famous for its seafood, particularly lobster. If you’re a seafood lover, you’ll find plenty of delicious options.

6. Low Population Density: Maine has a relatively low population density compared to many other states, which can mean less crowded living conditions and a slower pace of life.

Cons of Living in Maine:

1. Harsh Winters: Maine’s winters can be long and harsh, with heavy snowfall and cold temperatures. If you dislike cold weather, this may not be the place for you.

2. Economic Factors: Maine’s economy is diverse but has faced challenges in the past, including a relatively high cost of living in some areas and limited job opportunities in certain industries.

3. Rural Areas: While the natural beauty is a pro for many, it can also mean that some parts of Maine are quite rural and may lack access to urban amenities and services.

4. Tourism Impact: In some areas, particularly coastal communities, the local economy is heavily dependent on tourism, which can lead to seasonal fluctuations in job availability and increased living costs during tourist seasons.

5. Limited Diversity: Maine has a predominantly white population, which may not appeal to those seeking a more diverse cultural environment.

Ultimately, whether Maine is a good place to live depends on your lifestyle preferences and priorities. It’s a state with unique natural beauty and a strong sense of community, but it may not be the right fit for everyone, especially if you’re not fond of cold winters or prefer a more urban environment. It’s a good idea to visit and spend some time in the state to get a feel for what it’s like before making a decision to move there.

The Role of Fannie Mae and Freddie Mac on Conventional Loans. As mentioned earlier, the role of Fannie Mae and Freddie Mac is to keep liquidity and stability in the housing and mortgage markets.

• This discussion was modified 2 years, 1 month ago by  Sapna Sharma.
• This discussion was modified 2 years, 1 month ago by  Sapna Sharma.
• This discussion was modified 2 years ago by  Gustan Cho.
• This discussion was modified 2 years ago by  Gustan Cho. Reason: Wrong information

https://www.youtube.com/watch?v=DtNXHqWf8BE

I am a loan officer and realtor but am not too familiar with USDA loans. Anyone have information about getting qualified for a USDA loan after Chapter 7 Bankruptcy? What is the waiting period to qualify for a USDA loan after bankruptcy. What is the minimum credit scores required to qualify for a USDA loan? What are the eligibility requirements to be eligible and qualify for a USDA loan?

What is the consequences by the CFPB and state and federal regulators if a NMLS Licensed loan officer gets caught giving or receiving referral fees and kickback.

Alex Jones breaking news on Michelle Obama, Barack Obama’s transgender spouse has proof Michelle Robinson Obama is Michael Robinson Obama and is a transgender. Michelle Obama has a penis and has not chopped it off yet.

https://www.youtube.com/watch?v=ouJ_qo8YZPA

Regulators are tightening up on kickbacks

Freedom Mortgage got nailed for kickback RESPA violations. Not worth it

Investment property mortgage loans are financial products designed for individuals or entities looking to purchase real estate properties with the intention of generating rental income or capital appreciation. These loans are distinct from primary residence mortgages and come with different terms and requirements. Here are some key aspects to understand about investment property mortgage loans:

1. Types of Investment Property Loans:

   • Conventional Loans: These are standard mortgage loans offered by banks and mortgage lenders. They typically require a higher down payment and have stricter qualification criteria compared to loans for primary residences.
   • Government-Backed Loans: Some government programs, such as FHA (Federal Housing Administration) and VA (Department of Veterans Affairs), offer investment property loan options, but they often come with restrictions and may require the property owner to reside in one of the units.

2. Down Payment Requirements: Investment property loans typically require a larger down payment than primary residence loans. It’s common to see down payments in the range of 15% to 25% or more of the property’s purchase price. The exact requirement depends on the lender and loan program.

3. Interest Rates: Interest rates on investment property mortgage loans can be slightly higher than those for primary residences. Lenders often view investment properties as riskier, and this risk is reflected in the interest rate.

4. Loan Terms: Investment property loans typically come with fixed or adjustable interest rates and loan terms ranging from 15 to 30 years. The choice between fixed and adjustable rates depends on your risk tolerance and financial goals.

5. Rental Income Considerations: Lenders may consider the potential rental income from the property when determining your eligibility and the loan amount you qualify for. They may require rental income documentation, such as lease agreements, to verify rental income.

6. Credit and Income Requirements: Lenders will review your credit history, debt-to-income ratio, and overall financial stability when evaluating your loan application. Meeting credit and income requirements is crucial for approval.

7. Property Type: The type of investment property can affect loan eligibility and terms. Single-family homes, multi-unit properties (duplexes, triplexes, etc.), and commercial properties each have their own lending guidelines.

8. Property Location: The location of the investment property can also influence loan terms. Some lenders may have restrictions or offer different rates for properties in certain geographic areas.

9. Property Management: Lenders may inquire about your property management plans. Having a solid property management strategy in place can improve your loan application’s chances of approval.

10. Tax Implications: Investment properties may have tax benefits, such as deductions for mortgage interest, property taxes, and depreciation. It’s advisable to consult with a tax professional to understand the specific tax implications of your investment property.

Before pursuing an investment property mortgage loan, it’s essential to conduct thorough research, assess your financial readiness, and consult with mortgage professionals to determine the best financing options for your real estate investment goals. Additionally, local real estate market conditions and regulations can impact your investment decisions, so it’s advisable to seek local expertise when investing in real estate.

I write many posts and I am beginning to realize that AI lacks a sense of humor. I know someone will answer me with an AI response explaining what AI is, I am ready. Can AI tell me a joke to make me laugh, or just explain what a joke is?