Mortgage / Finance

Anybody that's hung around the ActiveRain “water cooler” for any length of time understands the value of the relationships built on the site. AR is so much more than a social networking site, however.


It's also the place to get up-to-the-minute information on topics that affect your clients. Ask yourself: what's the most confusing aspect of buying a home for the real estate consumer? The answer is most likely financing the purchase. Credit scores and how they affect the mortgage rate, types of loan products, points, fees – whew! -- there's a lot to know about mortgages.


To serve your clients effectively you need to know about this stuff and keep abreast of changes in the mortgage industry. Thankfully, ActiveRain is not only popular with real estate agents and brokers but with finance professionals as well.


Whether you're an agent trying to figure out what the Fed's latest move means to your clients or a mortgage pro who needs input on how to build relationships with real estate agents, ActiveRain is the place to tap into a wealth of knowledge.

Recent blogs on Mortgage / Finance
By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Conventional 30 year Mortgage: 5.75%Credit score:740LTV:75%Loan Amount: $300kAPR: 6.295%FHA 30 year: 5.5% Credit Score:740LTV:96.5%loan amount: $300kAPR: 6.415%Conventional 15 year: 5%Credit score:740LTV:75%Loan Amount: $300kAPR: 5.085%Rates are Subject to ChangeCall me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.
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By David Williams, Industry Leading Mortgage Lender for over 30 years
(Right Start Mortgage, Inc.)
After a two-year buying frenzy, rising interest rates, inflation, and uncertainty about the economy's future have planted many prospective homebuyers firmly on the sidelines. Will interest rates continue to climb, level out, or return to the unprecedented lows we saw at the height of the pandemic?We hear this question frequently, and experience tells us that the best way to answer it is by analyzing current real estate trends that will impact the housing market. Here’s what we’re seeing.The Market Will Remain SlowOver the last two years, home sales surged at a rate we haven't seen since 2006. To put that into perspective, 6.1 million housing transactions occurred in 2021 alone. Compare that to 5.95 million home sales in 2022. So what do we expect in 2023?Homes will stay on the market lo...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
For this post I’m veering from the tax collection area into an issue of tax avoidance. Although this commentary relates to “Trump” it is in no way a political commentary. My comments are solely related to recent events relating to the Trump Organization.As reported in an article by Vice (11/1/22) a trial involving the Trump Organization recently kicked off. The article describes the court proceeding as relating to “channeling off-the-books benefits to senior executives to avoid taxes”. Other articles have described the situation as a mishandling of the reporting of fringe benefits. Some commentators have questioned the government’s interest in pursuing a tax case “just” related to the reporting of fringe benefits.I’d like to dispel this notion. This is not case solely related to the rep...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
You’ve run up a tax debt - either through filing a tax return with a balance due or if the IRS computes a balance due - through the Substitute For Return procedure. As mentioned in a previous discussion once this happens the IRS is automatically granted a lien on all of your property.OK but what if you have other debts that may be secured by property - for example a home with an outstanding loan, a car with related unpaid debt, etc. Does the IRS automatically “jump ahead” of others with claims on your assets? They do not - the IRS is not granted any extraordinary rights relating to your property. They may acquire a lien against all your property but they are behind existing liens.A lien represents a claim against an asset. Borrowing in connection with buying a home or a car usually invo...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
OK, OK I know I owe the IRS money for my taxes - can they come after me forever? The short answer is no - the IRS generally has ten years to attempt to collect the debt.Many laws contain a “statute of limitations” (SOL) - a period of time set out for action. For example in Massachusetts the law relating to contracts typically requires a claim to be brought within six years of when a contract was broken. The concept is that laws should be designed to facilitate resolution within a “reasonable” amount of time.Under the tax law there is a ten year period to collect a tax - the SOL. After this period the debt is no longer enforceable. While this concept appears straightforward a number of issues can arise - for example: when does the period begin, are there any events that can extend the ti...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
OK I know I should have filed a tax return - but life got in the way…. Now the IRS has told me they prepared a “substitute for return” - what does this mean!The US tax system is referred to as a “voluntary” tax system - I know, hold the jokes. This means each person is tasked with determining if they have a tax return filing obligation, and - if so - they “voluntarily” prepare and file an annual tax return.But the IRS does not maintain a list of all people in the country and monitor whether or not a tax return is required and filed. That’s not to say the IRS solely relies on individuals to ensure compliance with the rules.The responsibility of the IRS is to ensure compliance with the tax law - the filing of tax returns and the payment of tax obligations. The IRS uses a number of tools t...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
So I owe taxes to the IRS and to Massachusetts. I provided a bunch of information to the IRS and they agreed to lower my tax debt through their Offer In Compromise program. I know that the IRS and MA share tax information. Does this mean MA will just settle my debt for less than I owe? Nope - these are two completely separate government operations. Settling a debt with one has no impact on a debt with the other group.That being said many states do have debt settlement programs similar to those offered by the IRS. The most common of these being Installment Agreements (IA) and Offers In Compromise (OIC). While many of concepts are similar between the agencies (i.e. Reasonable Collection Potential, Statute of Limitations, etc) the programs each have their own rules and require separate app...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
I filed my tax return - it showed that I owed money - I didn’t send in payment. Now the dreaded envelope arrives - it’s from the IRS. I finally open it…. Help what does it mean, what does this notice number mean?The IRS is notorious for sending out cryptic mail. In this post I’ll attempt to provide a bit of clarity to help decipher the various types of notices.Let’s start with the basics - the IRS uses antiquated technology. Notices generated by the IRS appear to be from the ’70’s - because that’s probably when the notices were designed. The IRS has recently received a commitment for increased funding - a portion of which is designed for technology upgrades.So I file my return - it shows a balance due - I don’t send in money - clearly I owe the government money - why do they need to sen...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
Help - the IRS is after me! I’m an employee - my taxes are taken out of my pay - my wife is self-employed - the government says we owe money due to some issue with her business - we field a joint tax return - am I on the hook? In most situations yes - however the IRS has a program it refers to as Innocent Spouse. This program may provide you with relief.In our last post we discussed the basics of tax returns and tax liability for married couples. Every individual (with sufficient taxable income) has a tax filing obligation. This is an individual obligation - even for married taxpayers. For taxpayers electing to participate in the filing of a joint tax return the obligation for unpaid tax is “joint and several”. This means collection of the entire tax can be attempted from each spouse - ...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
Marriage and taxes are inexorably intertwined. Let’s begin with the basics of tax returns and tax liability. Most individuals (those with sufficient taxable income) have a tax filing obligation.This is an individual obligation - even for married taxpayers. The default filing status for a married individual is Married Filing Separately. Married taxpayers are allowed to elect to file with their spouse - as Married Filing Jointly. Married taxpayers are not required to participate in the filing of a joint tax return.For this discussion I’m assuming that the taxpayers do not live in a “community property” state.For taxpayers not electing to be included in a joint tax return the liability for any unpaid tax is the personal obligation of the taxpayer - regardless of marital status. For taxpaye...
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By Sandra Nickel, The Hat Team
(Sandra Nickel REALTORS)
Owning a home is part of the American dream. Working hard, saving money, finding the right house, and going through the mortgage process all pays off when you move into your own home and being to enjoy the perks that come with what is likely to be your largest financial investment. Some of those perks come in the form of tax breaks. And with tax season around the corner, it’s time to educate yourself about those tax breaks. You might be surprised to discover that many of your biggest home-related expenses are often tax deductible.Here are the top four tax breaks for homeowners:MORTGAGE INTERESTThe most significant tax break you’ll get is a mortgage interest deduction, which is nice since a huge part of your monthly mortgage payment goes towards paying off interest for a while after your...
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By Bradford Simmons, CPA providing tax debt resolution services
(Ocean Consulting Services LLC)
You’ve filed your tax return - you have a balance due - the IRS has sent you all kinds of notices - now you’ve been told your account is in “collections” and that the IRS will attempt to seize your assets and garnish your wages.  You don’t have any assets to speak of and your income is spent each month - you can’t pay!  Maybe in a year or two you’ll be back on your feet financially but for now you have nothing left at the end of each month.  What can you do?One option for taxpayers in this situation is to request that you be considered “currently not collectible” (CNC).  OK - so what does this mean?Status as CNC basically results in putting the IRS “at bay” for a period of time.  While you are considered CNC the IRS won’t seize any assets.  Meanwhile the ten year period for collections ...
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By Michael Mahoney, Boston Realtor with Real Broker, LLC
(Real Broker, LLC)
Today Matters is a daily message put out by Greater Boston Realtor Michael Mahoney for the agents in his office. Check me out @ http://www.RealtorMikeMahoney.comIn today's video, we review mortgage rates.See the video here ohttps://youtu.be/syD9kxV6Ofsr click below
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By Matt Brady, One of San Diego's Best Lenders
(Watermark Capital)
 It’s time for another Weekly Rate Watch. My goal is to help navigate you through the world of finance and how it relates primarily to the real estate industry. Should you ever have any questions at all, please do not hesitate in reaching out. PPI numbers came in this past week showing an easing of inflationary pressures on producers. The Index came in at -0.5% when the market expected a -0.1% reading.Although the markets reacted positively on the release of this data, they retraced some of their gains when Fed officials came out in a more hawkish tone. They know, that the market knows, rates should come down due to easing inflation.The Fed, however, does not want the markets to get ahead of themselves so they will try to calm things down with a hawkish tone.The next Fed meeting begins...
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By RPDFW @ Salas Home Team, #1 Team in Real Estate Specialty Services
(Realty Preferred DFW)
Inversiones en bienes raíces siguen siendo un excelente camino para la jubilación.  ¿Es usted o conoce a un ciudadano extranjero que está buscando invertir su dinero? Realty Preferred DFW tiene muchas opciones comprobadas para su estrategia de inversión. Estamos aquí para ayudar con sus inversiones de bienes raíces.
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By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Commercial Bond Yields CMB 5 Year - 3.14%*EST. CANHOU 06/15/28 [+0.02%]   ‌ 10 Year - 3.30%*EST. CANHOU 06/15/33 [+0.03%]         * denotes interpolated rate GoC 5 Year - 2.87% CAN 09/01/27 [+0.03%]   ‌ 10 Year - 2.78% CAN 06/01/32 [+0.03%]   ‌ 15 Year - 2.93%* Est. 12/01/36 [+0.02%]   ‌ 20 Year - 2.94%* Est. 12/01/41 [+0.02%] GOC Bonds are for reference purposes only
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By Toby Barnett, Toby Barnett
(KW North Sound)
What are VA Home Loan Limits in Snohomish County, Wa?You might be surprised they're well over $600,000. Click the video to watch a 1 minute video explaining the zero down loan limits, type of homes that qualify (view all VA qualify homes here), and more. If you have questions please send a message or give me a call at 425-210-0709 to discuss using your VA Eligibility.
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By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Conventional 30 year Mortgage: 5.74%Credit score:740LTV:75%Loan Amount: $300kAPR: 6.285%FHA 30 year: 5.5% Credit Score:740LTV:96.5%loan amount: $300kAPR: 6.415%Conventional 15 year: 5%Credit score:740LTV:75%Loan Amount: $300kAPR: 5.085%Rates are Subject to ChangeCall me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.
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By Charles Ross - (785)-819-6944, Love To Help People
(eXp Realty LLC Salina Group)
If you’re in the market for a new home, one of the things you’ll need to do is get your credit in order. A strong credit score will give you access to the best interest rates and terms on a mortgage. It will also help you save money in the long run.But what if your credit isn’t where you want it to be? Don’t worry – there are still things you can do to improve your credit and get closer to your dream of homeownership. Check out these tips for improving your credit to purchase a home.Know your credit scoreThe first step to improving your credit is to know where you stand. Start by pulling your credit report and closely examining your credit score. If your score is on the lower end, don’t despair – there are still things you can do to improve it.Get help from a credit counseling or credit...
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By Matt Brady, One of San Diego's Best Lenders
(Watermark Capital)
We finished the week in a bullish matter as markets embraced the CPI data. Inflation was reported in line with market expectations at 6.5% (down from 7.1% from the previous month). What is more significant is that this was the first time since April 2020 that we saw a month-over-month (MoM) decline in inflation. It was -0.1% month over month.In past issues, I discussed how “I wouldn’t change my tune” until we saw a trend in month-over-month declines. Although I’m happy with the data, one CPI report does not confirm a trend. We would need a minimum of 3 continuous months of MoM before discussing the topic of a new trend in place. But the data is finally encouraging.The Fed still wants a weaker jobs market, which is ironic since one of the pillars of the Fed is to maximize employment (th...
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