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My friend Bill Burger-King Whopper is in Puerto Rico 🇵🇷. Bill, how’s life in Puerto Rico?
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replied 1 year, 6 months ago
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“MISSISSIPPI” is a U.S. state located in the southeastern region of the country. It is known for its rich history, diverse culture, and natural beauty. Here are some key facts and information about Mississippi:
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Capital and Largest City: Jackson is both the capital and the largest city in Mississippi.
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Nickname: Mississippi is often called the “Magnolia State” because of the abundance of magnolia trees and flowers in the region. Another nickname is the “Biloxi State,” referring to one of its prominent cities.
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Geography: Mississippi is bordered by Tennessee to the north, Alabama to the east, Louisiana to the south, and the Mississippi River to the west. It has a diverse landscape, including flat coastal plains along the Gulf of Mexico, rolling hills in the central region, and forested areas in the northern part of the state.
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History: Mississippi played a significant role in the American Civil War, with battles like the Battle of Vicksburg having a major impact on the outcome of the war. The state has a complex history of civil rights struggles and was a focal point of the civil rights movement in the 1950s and 1960s.
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Economy: Mississippi’s economy is diverse and includes industries such as agriculture (cotton, soybeans, poultry, and aquaculture), manufacturing, healthcare, and tourism.
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Culture: Mississippi has a rich cultural heritage, particularly in music. It is considered the birthplace of blues music, and famous musicians like B.B. King, Elvis Presley, and Muddy Waters have ties to the state. Literature also has a strong presence in Mississippi, with authors like William Faulkner and Eudora Welty hailing from the state.
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Education: Mississippi is home to several universities and colleges, including the University of Mississippi (Ole Miss) and Mississippi State University.
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Landmarks and Attractions: The state offers various attractions and landmarks, such as Vicksburg National Military Park, Natchez Trace Parkway, Gulf Islands National Seashore, and the Mississippi River itself, which is an essential part of the state’s identity.
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State Symbols: Mississippi has several official state symbols, including the magnolia blossom (state flower), the white-tailed deer (state mammal), and the mockingbird (state bird).
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Sports: College football is immensely popular in Mississippi, with rivalries between teams like Ole Miss and Mississippi State drawing large crowds. The state also has a rich tradition in sports, producing many professional athletes.
Remember that this information is based on my knowledge as of November 2023, and there may have been developments or changes since that time.
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This discussion was modified 3 months, 4 weeks ago by
Sapna Sharma.
gcamortgage.com
Mississippi Mortgage Loans - GCA Mortgage
Mississippi mortgage loans made easy: DPA programs and find the best rate including FHA, VA, USDA, conventional, jumbo, and non-QM loans.
View Last Reply: replied 1 year, 6 months ago
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Hello Everyone,
Here is a great read regarding Agent fees & commission caps for new buyers that you should start seeing in the near future !
This post from CBS news could be a HUGE interest to you. this is a MAJOR INSIGHT on what the Industry could come in contact with in the coming months~
” Experts said this week’s legal verdict that the powerful National Association of Realtors (NAR) and several large brokerages conspired to inflate home commissions could eventually reduce real estate agents’ fees and, crucially, lower costs for home buyers and sellers. At a minimum, the jury ruling will likely lead to greater transparency, long a source of confusion and frustration for consumers about where their money goes in real estate transactions.
The vast majority — or nearly 90% — of U.S. homes are bought and sold through real estate agents affiliated with NAR. The organization, the country’s largest trade association, requires home sellers to offer a non-negotiable commission before listing homes on its property database, known as the Multiple Listing Service, or MLS, which feeds into real estate sites such as Zillow. Paid by the home seller to their agent as well as the buyer’s agent, the commission currently stands at around 5% to 6% of a home’s sale price. “
Please read & let me know …
What is your thoughts on this?
Is this a positive or negative impact on you personally?
Were all getting ready for next year and hoping and wishing for the market to ease with inflation ASAP – Will this be a huge factor/reason for buyers to get back into the market? I think so, especially with the closing costs we have all been seeing ” Lately ” ( for a while now ) on your borrowers to get deals done, I think this will open up a chunk of the buyers market that we haven’t seen in a while.
Honestly, from an Account Executives point of view, Closing costs kill deals just as much as rates can ~
https://www.cbsnews.com/news/nar-lawsuit-verdict-real-estate-agent-commissions/
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This discussion was modified 1 year, 4 months ago by Sapna Sharma.
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replied 1 year, 6 months ago
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This discussion was modified 1 year, 4 months ago by
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Illinois is a state located in the Midwestern region of the United States. It is known for its diverse geography, including fertile farmland, rolling plains, and the bustling city of Chicago, which is the largest city in the state and the third-largest in the United States. Here are some key facts and information about Illinois:
- State Capital: Springfield
- Largest City: Chicago
- Nickname: The Prairie State
- Motto: “State Sovereignty, National Union”
- Area: Approximately 57,914 square miles, making it the 25th largest state in the U.S.
- Population: As of my knowledge cutoff date in January 2022, Illinois had a population of over 12.8 million people, making it the sixth most populous state in the country.
- Geography: Illinois features a diverse landscape that includes fertile plains, forests, lakes, rivers, and the southern tip of Lake Michigan. The northern part of the state is characterized by the flat terrain of the Great Plains, while the southern part is more hilly and wooded.
- Economy: Illinois has a diverse economy with a strong focus on agriculture, manufacturing, finance, and technology. Chicago is a major financial and business hub, home to the Chicago Mercantile Exchange (CME) and many Fortune 500 companies.
- Education: Illinois is home to several prestigious universities and colleges, including the University of Illinois, Northwestern University, and the University of Chicago.
- Landmarks: Illinois is known for its cultural and historical landmarks, including the Art Institute of Chicago, Millennium Park, Navy Pier, and the historic Route 66, which begins in Chicago.
- Politics: Illinois has a history of political significance and has produced several U.S. presidents, including Abraham Lincoln and Barack Obama.
- Transportation: The state has a well-developed transportation infrastructure, including major highways, airports, and a network of railways and waterways. O’Hare International Airport in Chicago is one of the busiest airports in the world.
- Sports: Illinois is home to various professional sports teams, including the Chicago Bears (NFL), Chicago Bulls (NBA), Chicago Cubs and Chicago White Sox (MLB), and Chicago Blackhawks (NHL).
Please note that some of the information provided may have changed since my last knowledge update in January 2022. If you have specific questions or need more up-to-date information about Illinois, please feel free to ask.
View Last Reply: replied 1 year, 6 months ago
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This video clip is funny. Pranking a guy until he literally goes nuts.
https://www.facebook.com/share/r/Z1LV4FFvHHBExZ2A/?mibextid=D5vuiz
facebook.com
Please HOLD 📞 | Billy Rosewood IV | you_funny_fooker · Original audio
Please HOLD 📞. you_funny_fooker · Original audio
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replied 1 year, 6 months ago
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A federal jury’s landmark ruling could upend how Americans buy & sell homes. This is an interesting ruling that was just handed down after a Missouri jury found The NAR (National Association of Realtors) and others guilty of collusion to maintain commissions.
PLEASE READ THIS ARTICLE AND RESPOND IN THIS FORUM.
mpamag.com
NAR’s commission collusion case rattles real estate industry
Missouri verdict opens Pandora's box of lawsuits and potential overhaul in how homes are sold
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Buying a house in Montana can be an exciting and rewarding experience, as Montana offers a unique blend of natural beauty, outdoor recreational opportunities, and a relatively low population density. Here are some steps to consider when buying a house in Montana:
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Determine Your Budget: Before you start searching for homes, assess your financial situation and determine how much you can afford to spend on a house. Consider factors like your down payment, monthly mortgage payments, property taxes, and maintenance costs.
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Research Locations: Montana is a large state with diverse landscapes and communities. Decide on the area or city in Montana where you want to buy a house based on your preferences, such as proximity to work, schools, outdoor activities, and lifestyle.
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Work with a Real Estate Agent: Hiring a local real estate agent who is familiar with the Montana real estate market can be a valuable asset. They can help you find properties that match your criteria, negotiate on your behalf, and guide you through the buying process.
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Get Pre-Approved for a Mortgage: Speak with a mortgage lender to get pre-approved for a mortgage loan. This will give you a better idea of your budget and make you a more competitive buyer when you find a house you like.
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Start Your Search: Begin looking for homes that meet your criteria, whether online through real estate websites, local listings, or with the assistance of your real estate agent. Attend open houses and schedule private showings to see potential properties in person.
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Make an Offer: When you find a house you want to buy, work with your real estate agent to make a competitive offer. Be prepared to negotiate with the seller, and consider including contingencies in your offer to protect your interests.
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Conduct Inspections: After your offer is accepted, schedule a home inspection to identify any potential issues with the property. You may also want to consider additional inspections for things like radon or well water quality, depending on the property’s location.
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Secure Financing: Finalize your mortgage financing by working closely with your lender. Ensure that you have all the necessary documentation and information to complete the loan application process.
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Closing: Once all the contingencies are met and the financing is in place, you’ll schedule a closing date. At the closing, you’ll sign all the necessary documents and officially take ownership of the property.
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Move In: Congratulations! After closing, you’ll receive the keys to your new Montana home. Plan your move and enjoy all that Montana has to offer.
Keep in mind that the Montana real estate market can vary by location and season, so it’s essential to stay informed and work closely with professionals throughout the buying process. Additionally, consider factors like property taxes, homeowner’s insurance, and ongoing maintenance costs when budgeting for your new home in Montana.
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This discussion was modified 3 months, 4 weeks ago by Sapna Sharma.
gcamortgage.com
Montana Mortgage Loans - GCA Mortgage
Explore the best Montana mortgage loans, including FHA, VA, USDA, Conventional, Non-QM, and Jumbo Loans. Discover DPA, and best rates.
View Last Reply: replied 1 year, 6 months ago
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Buying a house in Maryland, like purchasing a home in any other state, involves a series of steps and considerations. Here is a general overview of the process:
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Determine Your Budget:
- Calculate how much you can afford for a down payment, monthly mortgage payments, property taxes, insurance, and other associated costs. Consider pre-qualifying for a mortgage to determine your budget more precisely.
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Research the Market:
- Research different areas in Maryland to find the one that suits your needs, taking into account factors such as location, schools, commute times, amenities, and safety.
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Find a Real Estate Agent:
- A qualified real estate agent with local expertise can help you find suitable properties, negotiate on your behalf, and guide you through the home-buying process.
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Get Pre-Approved for a Mortgage:
- Before you start looking for homes, get pre-approved for a mortgage to understand your borrowing capacity and strengthen your offer when you find a property you like.
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Start House-Hunting:
- Work with your real estate agent to identify potential homes that meet your criteria. Visit properties, attend open houses, and narrow down your choices.
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Make an Offer:
- Once you find the right property, work with your real estate agent to make a competitive offer. The seller may accept, reject, or counter your offer.
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Home Inspection:
- If your offer is accepted, schedule a home inspection to uncover any potential issues with the property. You can negotiate repairs or ask for a price reduction based on the inspection results.
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Secure Financing:
- Finalize your mortgage application and secure financing for the purchase. This typically involves providing necessary documentation and working closely with your lender.
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Complete the Closing Process:
- Work with a title company or attorney to handle the closing process, which includes signing all necessary paperwork, transferring funds, and finalizing the sale.
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Take Possession of the Property:
- Once the sale is complete, you’ll receive the keys to your new home. You may also need to arrange for utilities, insurance, and other post-closing responsibilities.
Additionally, in Maryland, there are some specific considerations you should be aware of:
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Property Taxes: Maryland has property taxes, and the rates can vary by county. Make sure to understand the property tax rates in the area where you plan to buy.
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Homeowner’s Insurance: You’ll need to secure homeowner’s insurance for your new property.
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Settlement Costs: Maryland has a transfer tax and closing costs that buyers typically pay. These costs can vary, so it’s essential to budget for them.
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State Laws: Be aware of any specific state laws or regulations that may affect your home purchase in Maryland.
It’s crucial to work with professionals who are experienced in Maryland’s real estate market, including real estate agents, lenders, and attorneys, to ensure a smooth and successful home-buying process.
View Last Reply: replied 1 year, 6 months ago
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We had rhe graet opportunity to have luck with Mat Grella, the President of NEXA Mortgage at Capital Grille in Schaumburg, Illinois on Tuesday. Great food, great discussions, great live entertainment by our three-legged canine colleague Alexander Carlucci, and just a great time. 👍 Thank you Mat.
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Buying a house in New Mexico, like purchasing property in any other state, involves several steps and considerations. Here is a general overview of the process:
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Determine Your Budget:
- Calculate how much you can afford to spend on a house. Consider your income, expenses, and any available savings for a down payment.
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Get Pre-Approved for a Mortgage:
- Contact a mortgage lender or a bank to get pre-approved for a home loan. This will give you a better idea of the price range you can consider.
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Choose a Real Estate Agent:
- Hiring a qualified real estate agent can be extremely helpful. They can provide insights into the local housing market, show you properties, and negotiate on your behalf.
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Start House Hunting:
- Begin searching for properties that meet your criteria, such as location, size, features, and price. You can use online listings, work with your agent, and visit open houses.
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Make an Offer:
- Once you find a house you like, you can make an offer through your real estate agent. Be prepared for negotiation with the seller.
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Home Inspection:
- It’s essential to have a professional home inspector evaluate the property’s condition to identify any potential issues or necessary repairs.
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Appraisal:
- The lender will require an appraisal to determine the fair market value of the property. This ensures that the property’s value matches the loan amount.
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Secure Financing:
- After your offer is accepted, work closely with your lender to finalize your mortgage application and secure financing.
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Closing:
- The closing process involves signing the final paperwork, transferring ownership, and paying closing costs. This typically takes place at a title company or attorney’s office.
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Obtain Homeowners Insurance:
- You’ll need to secure homeowners insurance before closing on the property.
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Move In:
- Once the closing is complete, you can take possession of the property and start moving in.
When buying a house in New Mexico specifically, here are a few state-specific considerations:
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Property Taxes: Research property tax rates and how they vary by location within New Mexico. Property tax rates can significantly affect your ongoing homeownership costs.
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Homeowners Association (HOA): If you’re purchasing a property in a planned community, check if there’s an HOA, as it may have specific rules, fees, and regulations.
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New Mexico Real Estate Market: Stay informed about the local real estate market trends, as they can affect property prices and availability.
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Legal Requirements: Consult with a real estate attorney to understand the legal aspects of buying property in New Mexico, including the closing process and any state-specific laws.
Remember that real estate transactions can vary, and it’s crucial to work with professionals like real estate agents, inspectors, and lenders to navigate the process successfully. Conduct thorough research and due diligence to ensure you make an informed decision when purchasing a house in New Mexico or any other location.
View Last Reply: replied 1 year, 6 months ago
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Can you please tell me what a charge off account on a credit card means? I don’t have to pay this debt?
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HUD, the parent of FHA, does not allow credit disputes on the following:
1. Outstanding collection accounts that are not medical collections.
2. Charged off accounts
3. Late Payments in the past 24 months
4. Derogatory public records such as bankruptcy, foreclosure, deed-in-lieu of foreclosure, short sale, child support, federal and state tax liens, judgments, delinquent student loans, and other derogatory credit tradelines.
EXEMPT FROM CREDIT DISPUTES
1. Medical collections
2. Non-medical credit disputes that are on-time payments and good standings.
3. Non-medical disputes with zero balance.
4. Non-medical credit disputes with total credit tradelines with under $1,000 Outstanding Balance.
5. Collections and charge off accounts, late payments, older than 24 months.
VA, USDA, NON-QM, FANNIE MAE and FREDDIE MAC are normally EXEMPT from credit disputes. We have a YouTube live video aired today September 25th, 2023 at 10 am hosted from GCA Mortgage Group which we will post on this thread. Contact Gustan Cho Associates if you have any questions.
View Last Reply: replied 1 year, 6 months ago
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What is the difference between AXEN Mortgage and NEXA MORTGAGE?
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I am paying off all my credit card debt in the next few days and was wondering if anyone knows how long that will take to reflect on my credit scores? I used the FICO simulator, and according to my existing revolving debt ($5400) and current FICO score (658), if I pay it all off, it would change my score to 718-738.
I want to buy a college graduation present for myself and would like to walk in the door in the best possible position.
Has anyone any advice or information to share?View Last Reply:
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What are the initial documents I need to send to a lender or loan originator to start the process of an application?
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What’s the difference between chapter 7 Discharge and Dismissed when it comes to the waiting period to qualify for a mortgage?
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Who here has been through a credit union to get auto financing? How long had you been a member of the credit union before you got your car loan through them? I’ve heard that sometimes credit unions are easier to get a loan through and have better APR’s, so I’ve been thinking about opening an account maybe and trying that route.
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You may have heard about the lawsuit where the National Association of Realtors was sued whereby the Plaintiffs alleged that NAR conspired to inflate commissions for Sellers, also alleging that Buyers would pay their own brokers, if not for NAR basically holding Sellers hostage to getting their properties listed on the MLS. As I read some of the commentary, it sounds as though the Plaintiffs allege price fixing, and lack of transparency in real estate transactions. WOW! Is all I can say to that. Being a Realtor for going on 32 years now, I would have to disagree with some of this. From the very first class, the trainers beat it into our heads that commissions are negotiable. That agency relationships must be disclosed to buyers and sellers. That dual agency must be approved by both the buyer and the seller and they must both understand what fiduciary duties they are giving up because of the dual agency arrangement. Disclose, Disclose, Disclose is what we heard. Now as the market has changed on a dime, we are seeing anything and everything but fixed prices. Commission rates are all over the place in our market, and that is because they are NEGOTIABLE. Of course there can always be some bad actors out there in the marketplace, but to try to change a business practice that helps buyers buy, and sellers sell, and allows them the right to negotiate their price, terms and commission rates with their brokers and each other, I believe would be so disruptive and counterproductive, that the parties will just find new ways to negotiate around it.
To pay today’s real estate commission, a seller factors that into his asking price, and so does the entire market place. If that changes and the buyer now has to pay his own broker, then the pricing of homes will need to decrease, and sellers will not be happy. Or, Buyers will need to offer a higher price and ask for Seller Concessions to help pay the buyer’s real estate commission, because Buyers will still be shopping with a limited amount of money to make their purchase, and will require down payment help, closing cost help, and now lets add on Buyer commission help? So all of you real estate agents out there, better start letting your voices be heard to your local, state and national associations about this issue. And BTW, all you mortgage brokers, you need to put in your commentary as well, because this can have a huge impact on getting your borrowers qualified, if they now have to start coming up with a Buyer’s side commission, along with all the other costs they pay on the ALTA. Personally, my hope is that this gets appealed and overturned, because we don’t need to turn an entire industry upside down to make improvements in transparency and fair dealing. We can do that by self regulating ourselves, as we have been doing for over 100 years. I would love to hear your thoughts on this lawsuit and where you think we might be headed because of it.
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Mortgage rates are surging to 25 year highs. Mortgage rates for 700 plus credit score borrowers are 7.5% on FHA loans. Lower credit score borrowers with credit scores down to 500 FICO are priced at 7.75% with as much as 3% in points. Mortgage rates on conventional loans are 8.125% for 720 credit score borrowers.
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Do any of you have any idea or heard anything about where Mortgage Rates are headed or anticipate any form of correction?
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Real estate agent commissions are being attacked once again, but as of age of myself, I was always deemed as a bargain brokerage. If I were to discount my commissions, to be competitive, the national association of Realtors seems to be losing the battle with the feds with their commission practices Are now affecting Home prices. What are your thoughts? Let me know. Check out this link. https://www.cbsnews.com/news/nar-lawsuit-verdict-real-estate-agent-commissions/
cbsnews.com
How real estate brokerage ruling could impact home buyers and sellers
Landmark verdict could ultimately reduce agent commissions by 30%, saving sellers a bundle, according to analysts.
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Are many Mortgage Lenders going out of business due to high mortgage rates?
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Auto Repossessions are nearing 20,000 per day and increasing month after month by 5%
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Inflation is screaming 😱 out of control. Many people who are very conservative have been saving money for years if not decades. What is the best way to invest money during periods of out of control Inflation?
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Can a borrower use 2 different income to qualify for a mortgage?
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Can you please explain what POS means and how you can make money 💰 with POS with small business owners?
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Can someone please explain the difference between recourse and non-recourse loans on commercial loans?
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Mortgage Rates are finally dropping fast. JEROME POWELL, The Chairman of the Federal Reserve Board announced yesterday the Feds will not be increasing interest rates for the past two Fed meeting which caused mortgage rates to plummet. The 10 year treasuries started plummeting the past few days from a high of 5.0% to 4.66%
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What loan program the borrower can qualify for a 6-unit apartment (Purchase)? What are the documents needed?
728 FICO with experience renting out properties (currently have 4 other rental properties).View Last Reply:
replied 1 year, 6 months ago
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Time flies, and everyone wants to limit the wasteful. The time they spend going to the wrong source for research on buying a home and getting approved for a mortgage. Over 80% of our clients at Gustan Cho Associates are borrowers who could not qualify at other mortgage companies due to the lender’s overlays or because the lender did not have the best mortgage loan option
View Last Reply: replied 1 year, 6 months ago
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