Is Section 8 Bad?
This week’s myth buster is for my soon to be and experienced investors. I often hear: “Section 8 is bad”. I would like to make the case that this is FALSE. Many landlords shy away from having section 8 tenants. They think they are poor people with too many people in...
Important Announcement! Big Changes from Fannie Mae
Fannie Mae has changed the underwriting guidelines for investors who own more the 4 financed properties. The big changes are in bold and I have described the difference with an example of the difference in calculation. A financed property has been redefined as a...
Jobs, Relief, and Good News for Rates
This week we got a little relief from the increasing rates of last week. We started the week with a scare, and then saw the balloon deflate. Why? On Monday, we got the April Institute of Supply Management’s index number falling to 50.8% from 51.8%, a 1% drop, and...
Refinance Means No PMI for this Client
Long time clients of mine (1998) bought a rental property in 2006. We finally think they have 20% equity and decide to refinance. Then a blow… we get a low appraisal … how is that a win? Well, their loan is from 2006 and they do finally have 10% equity not the 20% we...