Mortgage Law Central

Avelo buys TrigoldCrystal

Darcy Beg — Fri, 11 May 2012 20:15:04 +0000

Avelo, provider of technology solutions to the Financial Services industry, has acquired sourcing system TrigoldCrystal.

Avelo said the acquisition is part of its strategy to extend the reach of products and services delivered to advisers.

It added that it will continue to bring together solutions to simplify and generate more value for people selling all financial services products.

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Patterns emerge in Mexicans’ purchases

Matthew Bond — Fri, 11 May 2012 00:54:14 +0000

The 2,632-square-foot house at 2903 Elm Tree Park in the Cliffs of Cibolo is in an area favored by Mexicans. It is listed at $290,000.

The 2,632-square-foot house at 2903 Elm Tree Park in the Cliffs…

This house at 2003 My Anns Hill in the Big Springs subdivision is in an area favored by Mexicans. At 4,282 square feet, it is listed at $810,000.

This house at 2003 My Anns Hill in the Big Springs subdivision…

This house at 18410 Crosstimber St.

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Two rental towers planned for site in Miami’s Shorecrest neighborhood

Matthew Bond — Tue, 08 May 2012 07:05:39 +0000

Strong demand for rental apartments has prompted Miami-based Adler Group to join with Atlanta-based ECI Group to acquire bayfront land at 7950 NE Bayshore Court in the Shorecrest neighborhood of Miami with plans to build two 20-story towers.

The site was once the location of the historic Mike Gordons Seafood Restaurant. The Related Group, a prominent Miami-base developer headed by Jorge Perez, had plans to built two luxury condo towers called Oasis by the Bay there during the boom, but the project never got off the ground and ended up in the hands of City National Bank of Miami.

Miami-based Apollo Bank is financing the land acquisition. The developers are working on getting construction and permanent financing.

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203k Loans Off to a Roaring Start – Hot Texas Real Estate Market

Darcy Beg — Sun, 06 May 2012 14:47:09 +0000

The temperatures are heating up and so is the renovation lending market in Texas. The 203k loan is just one of the great loan programs out there that people can’t stop talking about. It seems that only six months ago people hardly knew what this was and now we can’t seem to write them fast enough. These loans give the ability to purchase and include the costs of the remodel. Move in ready homes are going fast so now is the time to partner the purchase contract with a renovation loan which will allow a buyer to purchase “as is,” renovate the home to their specific taste and voila everyone is happy.

Stop and just consider for a minute how much time you could spend driving your clients all over town to find the perfect home but they want to make a low ball offer and the house has multiple offers. The media has no

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Are Sellers Waking Up?

Jack Collie — Thu, 03 May 2012 01:11:29 +0000

It’s no secret that this is a good time to buy, but more and more sellers are beginning to think that it’s also getting to be a good time to buy… at least better than it was six months ago.

The uptick in seller confidence recorded by two recent surveys comes as concern is growing that seller withdrawal from the market is creating record low inventories that are limiting buyer choice and curtailing sales in the middle of the spring buying season (see Buyers Walk the Walk.). Last week the National Association of Realtors reported total housing inventory at the end of March declined 1.3 percent to 2.37 million existing homes available for sale, which represents a 6.3-month supply at the current sales pace. Liste

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Scottsdale Guard Gated Homes For Sale – Gated Homes For Sale In Scottsdale

Jack Collie — Tue, 17 Apr 2012 14:30:49 +0000

Scottsdale Guard Gated Homes For Sale in north Scottsdale provide that extra layer of security. The homes for sale in the gated Desert Mountain community are some of the most gorgeous luxury homes in the valley with some of the most amazing views you will find. Scottsdale gated homes for sale can be found in nearly any price range, from Scottsdale condo gated communities, guard gated town homes and patio homes in Scottsdale, to Million Dollar luxury homes for sale in DC Ranch, Grayhawk, Or Terravita just to mention a few. There are currently 782 Scottsdale homes for sale in private communities that are gated, ranging in price from $43,000 to over $24,000,000. Gated private communities also offer an added sense of security for the second/vacation home owner as well.

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Weekly Rate Deal – Community Bank Offering 3.00% APY 15-Month CD IRA – Mississippi

Darcy Beg — Thu, 12 Apr 2012 21:08:44 +0000

Rate information contained on this page may have changed. Please find latest cd rates.

Community Bank, with branches primarily in Mississippi is offering a 3.00% APY 15-month IRA CD. That’s a terrific rate. The top 5-year CD at the moment pays only 2.75% and the top 12-month CD pays 2.01%. Average CD rates are even lower. The 3.00% APY is a relationship rate and a depositor must have another account at the bank to that rate. That’s as easy as opening a checking or savings account. Without a companion account, the rate drops to 2.00% APY for the FIRA, still very competitive. The rate is also only available for new contributions to the bank.

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Channeling Sports: A Conversation with ESPN Founder Bill Rasmussen

Matthew Bond — Thu, 12 Apr 2012 17:18:19 +0000

When Bill Rasmussen launched ESPN on September 7, 1979, he gave the world its first 24-hour television network and changed the way people viewed both television and sports. A life-long entrepreneur and sports fan, Rasmussen’s innovations include the creation of the daily sports news television show “Sports Center,” wall-to-wall coverage of NCAA regular-season and March Madness college basketball, and coverage of the College World Series baseball tournament. Two years ago, he authored a book titled, Sports Junkies Rejoice! The Birth of ESPN. Rasmussen recently talked with Knowledge@Wharton about the challenges of founding a 24/7 sports network in the face of nearly universal skepticism, what entrepreneurs need to succeed and why he doesn’t ever plan to retire.

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Investor Purchases Soar 65 Percent

Jack Collie — Tue, 10 Apr 2012 21:04:33 +0000

Investors bought 1.23 million homes last year, accounting for 27 percent of all existing homes bought in America, the greatest annual market share for investors ever recorded.

Over the past 12 months, investors’ market increased 64.5 percent, from 749,000 homes and a 17 percent market share in 2010. By contrast, owner-occupied purchases fell 15.5 percent to 2.78 million and vacation or second home purchases increased rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010, According to the National Association of Realtors.

The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010, while the median vacation-home price was $121,300, down 19.1 percent from $150,000 in 2010.

Investment-home buyers in 2011 had a median age of 50, earned $86,100 and bought a home that was relatively close to their primary residence – a median distance of 25 miles, although 30 percent were more than 100 miles away.

NAR Chief Economist Lawrence Yun said investors with cash took advantage of market conditions in 2011. “

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Mortgage Rates Fall Back Below 4%

Darcy Beg — Sat, 07 Apr 2012 13:18:52 +0000

After a brief run-up two weeks ago, mortgage rates are back below 4 percent. Its good news for home buyers and mortgage rate shoppers of Orlando because with lower mortgage rates come lower mortgage payments.

According to Freddie Macs weekly Primary Mortgage Market Survey, the national, average 30-year fixed rate mortgage rate fell to 3.99 percent this week from last weeks 4.08 percent.

Last week had marked the first time since December 2011 that the benchmark rate crossed north of 4 percent a span of 16 weeks.

And, it wasnt just rates that got cheaper this week closing costs dropped, too.

Freddie Macs survey showed that the average number of discount points to accompany a 30-year fixed rate mortgage fell one-tenth of a percent this week to 0.7, where one discount point is equal to one percent of your loan size.

As a real-life example, a $200,000 mortgage with an accompanying 0.7 discount points would be subject to an additional $1,400 one-time closing cost.

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A General Purpose Approach to Remote Viewing of PAP Images

Matthew Bond — Thu, 05 Apr 2012 10:14:30 +0000

Ive been working on a PAP page today that will list resources for doing Pole Aerial Photography. While I was researching systems for viewing the images you are shooting when your camera is up on a pole, I was thinking about how messy the problem is in that there isnt one common solution that works for all small cameras that you are likely to put up on a pole. Then it dawned on me that there is a single system that will pretty much works for any camera that uses a SD memory card.

Heres what you need:

Its too bad there isnt such a general solution for electronic shutter releases. Mechanical shutter actuation is the only general solution Ive found so far.

Homeowners might be on hook in civil action in Trayvon Martin’s death

Jack Collie — Sun, 01 Apr 2012 18:02:48 +0000

The people who could end up paying the financial price for the shooting death of Trayvon Martin are, ultimately, the homeowners of the Retreat at Twin Lakes development in Sanford, experts say.

If their crime-watch program captain George Zimmerman gets charged with and convicted of killing Trayvon, the community’s homeowner association and property-management company will likely be sued by the victim’s family regarding the way the watch program was established and operated, said Donna Berger, a lawyer who specializes in homeowner-association law.

“They may wind up getting sued and getting hit with hundreds of thousands of dollars in legal fees and damages,” said Berger, who works with the South Florida law firm Katzman, Garfinkel and Berger.

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Advising and arranging complaints soar in 2011

Darcy Beg — Sun, 01 Apr 2012 16:34:33 +0000

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

In its six-monthly complaints data, the regulator said the number of complaints stemming from advising, selling and arranging surged from 647,317 in the first half of 2011 to 1,093,684 in the second half.

The total number of complaints recorded by the FSA increased by 21% to 2,256,172 in H2 2011, driven mainly by a rise in volume of complaints about general insurance and pure protection.

Kitchen, bathroom remodeling in demand

Matthew Bond — Sat, 31 Mar 2012 07:03:51 +0000

The bathroom is among the most popular areas of the home for remodeling and renovation, according to the new design trends survey from the American Institute of Architects. The home in The Dominion is listed for $1.5 million.

The bathroom is among the most popular areas of the home for…

The kitchen is among the most popular areas of the home for remodeling and renovation, according to the new design trends survey from the American Institute of Architects.

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Legend Trail Golf Course Homes For Sale – Golf Course Homes For Sale In Legend Trail

Jack Collie — Mon, 26 Mar 2012 05:16:07 +0000

Legend Trail golf course homes for sale located in north Scottsdale offer the most discriminating buyer value, quality, and location at an affordable price. Golf course homes for sale in Legend Trail are smartly nestled into spectacular Sonoran Desert surroundings including towering Saguaro Cacti. Many Legend Trail golf club homes provide gorgeous mountain and/or city light views. In addition to great golf course living you will find single level homes in Legend Trail that have room to move with several “split” floor plans separating the master suite from the secondary bedrooms providing privacy and generally easy access to the back yard pool. In a

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