I knew a commercial real estate developer who once bragged to me that $5,000,000 flowed through his hands each year. Pat had the cars, the McMansion and wore the custom tailored clothes of success. I asked him how much of the $5,000,000 he got to keep. Evidently not much, since he moved back to Texas several years later after losing his house to foreclosure during better economic times than today. A lifetime ago I worked in the insurance industry where I learned that there are only two things that can provide an income stream: man at work or … [Read more...]

In my opinion, the proposed HUD Rules which interpret the S.A.F.E. Mortgage Licensing Act are misguided and perhaps unconstitutional. These are the comments I chose to post on the government site which is requesting public input. YOUR COMMENTS ARE VERY IMPORTANT AND MUST BE POSTED BY FEBRUARY 16TH SO PLEASE DON'T DELAY! I am asking for your help. Please pass this information on to everyone you know who has an interest in residential real estate."This law was not intended to disenfranchise retirees who have invested in residential rental houses … [Read more...]

I received the following email yesterday. I think it is very important and hope that many will read and act on it.PLEASE HELP!David TilneyKeyper Corporation*************************************Dear REIA Members:The following information is extremely important!HUD Issues Problematic Rules Interpreting SAFE Mortgage Licensing ACTHUD has proposed to eliminate ALL seller financing unless the seller lives in the home or becomes a licensed mortgage originator. The proposed HUD Rules interpreting the federal SAFE mortgage act can be viewed at … [Read more...]