So, what IS an “assumable mortgage”?
An “assumable mortgage” is exactly what it sounds like; it is when a buyer agrees to take over the payments from the seller on the seller’s existing mortgage.
Sounds simple enough, right? And, it is.
Many people don’t know this, but, mortgage assumptions were quite common during the 40± years from the [...]
In many high population communities there are retail shopping centers on virtually every corner. Such is the case in the greater Phoenix area, for example, where the major roads are laid out in a 1 square mile perimeter grid pattern, there is typically at least 1 (but, more commonly 2) retail community strip center on [...]
Got a call last week from a fellow commercial real estate broker friend. Although, we talk on the phone, I haven’t seen him in a couple of years. He was wondering if I was going to attend a meeting of local commercial agents that happens every few weeks. Though I said I’d go, I forgot [...]
Back in the late 1970’s during the (disastrous) Carter administration, the residential real estate brokerage business was like a bad roller coaster ride, only with very few small ups and many serious declines.
Anyway, during the depths of that (not so) “great” recession, interest rates were in the 16-18% range, and sales were very few and [...]
On January 10, 2010, I posted, FHA Should Rescind the 90-Day Seasoning Rule. Perhaps those in charge at FHA were reading my blog, because on January 15, 2010 (just 5 days after posting my original article), FHA issued a statement, Waiver of Requirements of 24 CFR 203.37a(b)(2).
In short, FHA has apparently come to realize they [...]
Twitter Feed |  | ||
 |  |