Real Estate: The rising number of foreclosures in California has been big news but did you know that there were almost as many foreclosures in the 3rd quarter of 1996 (15,418) as there were last quarter (17,408)?
investment tool; it is not just a commodity. Show your clients how to convert wealth to capital.
Sales Corner: Treat a mortgage as an important Hot Tips: Several of our investors have adopted the new Interagency Guidance on Non-Traditional Mortgage Products, so be careful when qualifying your borrower at the interest only payments.
The Guidance defines non-traditional mortgage products as:
- Interest only products
- Adjustable rate mortgages with initial adjustments <60months
- Negative Amortization;
- Loans with a temporary buydown.
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