The show is on from 9:00 to 11:00, so if you want to call in with your questions, you will want to be tuned in at that time. Of course, the show will be taped and available after the show at kfwbam.com/show/
2013 may long be remembered as the year the real estate and mortgage industries went through the most radical transformation in history. Dodd-Frank regulations are coming into effect. The FHA is tightening regulations. Premium mortgage insurance is now life-of-the-
With no inventory of homes to sell, and none being built, prices are skyrocketing. But this means that appraisals are difficult to tie down. The problem is that values reflect today’s demand and tomorrow’s expectations, while appraisals are based on yesterday’s activity. The market may say that the home is worth $650,000 but the appraiser may not be able to justify that number based on recent sales.
Anyone paying attention to the issues of home mortgages knows that after the housing crash of 2007, banks tightened up lending practices. What does it take to qualify today? What should someone looking for a mortgage do to improve their chances of securing a mortgage in these times?
Guest Bill Rayman has been through the crazy times of the early 2000's, and the crash and slow times of the latest period in the mortgage business. He has amassed a network of contacts and wealth of knowledge about how to get almost any deal done. "Each market condition has its challenges,"
Rayman continues, “This market is the toughest in my experience. But banks are healthy and in business, and I’ve learned ways to get them to lend to people who can afford the payments. It’s a matter of knowing how to structure a transaction, which kinds of deals each bank favors, and having the clout with those underwriters to ensure each of my clients gets the best loan that meets their needs and makes them happy.”
One of the things that should be helpful to those who listen to the show this Wednesday is learning some of the steps a borrower can take to prepare their credit and personal financial information. “The banks like to see a conservative credit history. Don’t buy a new car or run up credit card debt for a trip to Maui just before you want to secure a home loan.” Laughs Rayman, “Treat yourself after you get your money.”
If you would like to contact Bill Rayman or learn more about him or ask your own specific questions about your mortgage needs, visit his website at mortgagehelplosangles.com, see his many videos by searching his name on YouTube, or just call 310-295-6213