Category Archives: Mortgage

Why Bankers Hate Condos

August 25, 2010 – 7:36 pm

We are collecting horror stories about condo finance, and there are allot of nightmares out there. There are 2 dirty words to bankers today: “sub prime” is so yesterday, while the hated word of 2009-10 seems to be ‘condos’.
But why are condos such bad news in the minds of lenders and are they really as […]

By bwaun | Also posted in Personal Experience, Developments, Condo Hotels, Second Homes | Comments (0)

GSE Reform is Coming

August 17, 2010 – 11:41 am

By EDWARD PINTO
Today the Obama administration will begin a discussion on how to overhaul our nationalized housing finance system. Moderated by Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), the “Conference on the Future of Housing Finance” seeks answers to what […]

By bwaun | Also posted in Baby Boomers | Comments (0)

Condo Finance Reform: the time is now

August 11, 2010 – 12:30 pm

“No.” this is a common answer from lenders about whether they will finance even existing mixed use condominium projects.
The project approval rules are flawed, and lenders are creating their own crisis by denying good condo projects ANY financing, under ANY terms. The need for a condo finance reform has never been more important.
check out www.RCFRC.org […]

By bwaun | Also posted in Condo Hotels | Comments (0)

Condo Finance Reform… the time is now

July 25, 2010 – 7:12 pm

Since I last wrote you, much legislative and regulatory activity has transpired in Washington that will have a profound impact on our industry.  The recent passage of the Dodd-Frank Financial Reform Bill and signed by President Obama last week underscores that CHANGE is now.   This legislation will open the floodgates of new regulations that will […]

By bwaun | Also posted in Timeshares, Fractional Ownership, Condo Hotels, Second Homes | Comments (0)

Prisioners Get Homebuyer Tax Credit

June 24, 2010 – 8:35 am

NEW YORK (CNNMoney.com) — More than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released Wednesday.
Treasury’s inspector general also found that thousands of people filed multiple claims or made claims outside the allotted time period. In […]

By bwaun | Comments (0)