Main Content

Home » Lenders

Lenders

The Wells Fargo Debacle

The Wells Fargo Debacle

I previously worked in the mortgage banking industry and know firsthand how corrupt and dishonest many bankers are. I followed the mortgage meltdown carefully and am trying to keep current on the recent Wells Fargo debacle. Wells Fargo &...

Read more

Ask Phyllis: How to handle multiple offers

Reverse Mortgage Pitfalls

Ask Phyllis is a blog series of frequently asked real estate questions.  Have a question about real estate?  Email us here Dear Phyllis, Years ago my parents obtained a reverse mortgage; my father passed first. After our mother became i...

Read more

Not all mortgage lenders are created equal

Not all mortgage lenders are created equal

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness." — The Declaration of Independe...

Read more

Reverse Mortgage and Foreclosure

Reverse Mortgage and Foreclosure

Is a reverse mortgage more foreclosure prone? Last month, I closed escrow on a San Fernando Valley foreclosure. The former owner obtained a reverse mortgage.  When there is a reverse mortgage and the owner passes, the estate has six months ...

Read more

Low Down Payment Loans are back but who do they help?

Low Down Payment Loans are back but who do they help?

  Now that real estate prices have rebounded, low down payment loans are back. I really don’t understand why there isn’t more griping over the fact that while real estate prices are low, loans are difficult to come by but as soon as value...

Read more

New Real Estate lending changes coming on January 10

New Real Estate lending changes coming on January 10

This just in from Russell Cerpa, one of my preferred mortgage lenders: As it stands some lenders can qualify loans up to 48%-50% of the applicant's monthly gross income. Next year the debt to income threshold will decrease by 5%-7% this will...

Read more