Archive for the ‘Uncategorized’ Category

Real Estate Investing – A Primer Part 1

Friday, January 15th, 2010

deerThe writer is a bc mortgage broker with a keen interest in all facets of the BC real estate business.

Understanding and implementing real estate investment strategies can be daunting. Developing a winning strategy and the right connections are key. Making sure you have the money to stay in the game to staging a house properly to maximize your profit are all part of the plan.

Real estate investment sounds easy. You can flip a pancake. You can flip a coin. Without too much effort, you can even flip out.while flipping a house, on the other hand, requires a level of knowledge, expertise, and sticktoitism unrivaled by any of these mindless tasks. It requires access to cash, and lots of it. It demands time, energy, vision, attention to detail, and the ability and desire to network with everyone from buyers and sellers to real estate professionals, contractors, and lenders.

I offer a broad overview of what buying and selling RE is all about. I will introduce the overall strategy of flipping houses – buy low, renovate, and sell a property at fair market value to earn a fair market profit. I reveal the difference between flipping the right way -legally and ethically – and flipping the wrong way – ripping off buyers, sellers, and bc mortgage lenders for a quick wad of cash.

Throughout this series I recommend a strategy that have worked for many RE investors With a positive mindset, a strong commitment, and the right approach, you have a much better chance that your first investment won’t flop.

Mortgage Underwriting Part 2

Thursday, June 11th, 2009

The writer is a Vancouver mortgage broker with experience in bad credit mortgage in Canada applications. He is familiar with most bad credit Canada mortgage lenders. Potential purchasers need not be worried if there credit difficulties in the past.

flower11Today, many lenders have turned to automated underwriting (AU) for an underwriting decision. An automated underwriting system determines the creditworthiness of an applicant by assigning points to certain attributes and facts. These complex software programs use an enormous loan performance database for the basis of their calculations and analysis.

This series first examines the underlying issues and risks, explains the practical steps involved in underwriting a residential mortgage loan, and reviews how underwriting has evolved and is practiced today.

Duncan Seward is a Vancouver mortgage broker. Mortgage BC is the focus of his business. He is an expert in bad credit mortgage refinance applications. Poor credit loans need not be a concern to clients with a damaged credit history.

Mortgage Underwriting Part 1

Thursday, June 11th, 2009

The writer is a Vancouver mortgage broker with experience in bad credit mortgage in Canada applications. He is familiar with most bad credit Canada mortgage lenders. Potential purchasers need not be worried if there credit difficulties in the past.

flower101 - Vancouver mortgage brokerMany segments in the Canadian economy use the term underwriting to describe the process of analyzing information relating to risk and making a decision whether to accept that risk. Life and hazard insurance underwriting is an example of this risk analysis. In real estate, the purpose of an underwriting review is to analyze the features of the mortgage application, determine whether the cumulative risk is acceptable to the lender and falls within its lending guidelines, and establish the final conditions under which the lender will approve, deny, or make a counteroffer to the application.

Underwriting is an integral part of the mortgage-lending process, regardless of the type of transaction, loan product, borrower, or property involved. It follows a similar process for all different types of residential mortgage loans—conventional or government loans, or those loans intended to be sold or placed in portfolio. Any differences are more procedural and not of great significance.

Vancouver mortgage insight is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in BC mortgage matters. You can check out regular mortgage updates at his blog page Vancouver Mortgage Rates.

Realtors Who Focus On Investment Properties Part 2

Thursday, June 4th, 2009

The writer is a Vancouver mortgage broker with experience in bad credit mortgage in Canada applications. He is familiar with most bad credit Canada mortgage lenders. Potential purchasers need not be worried if there credit difficulties in the past.

flower2Dealers are well informed and are in direct contact with buyers and sellers every single day. They know which areas of town are hot and which are not. They also know when new properties are about to be made available for sale, so if they know what you are looking for, they can notify you immediately when a property meeting your criteria hits the market.

Since dealers are plugged into a network of relationships-people who provide them with information and inventory-they will be among the first to know when a new opportunity becomes available. An additional advantage dealers can offer is that they often have an extensive database of other investors, both buyers and sellers, whom they can contact. Even if a house is not officially listed for sale, the broker may know from a prior conversation that the owner would entertain an offer should the right buyer come along with the right price.

Vancouver mortgage insight is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in BC mortgage matters. You can check out regular mortgage updates at his blog page Vancouver Mortgage Rates.

Leverage is the Key

Wednesday, May 27th, 2009

Wrting about the Vancouver mortgage market is old hat for this author. He is an expert in bad credit mortgage financing in Canada.

Many Vancouver real estate concepts embrace the buy-and-hold strategy of building long-term wealth. Proponents of this approach claim that for individuals to retire with a leisurely lifestyle, all they have to do is buy one property a year for, let’s say, 10 years, rent the units out, and pay down the debt. At the end of 25 years, all of the debt will be paid off and the investor can live off of the rents. This strategy may work fine for many; some may find that this is all they are comfortable with.

But as I will demonstrate, investors who maximize their efforts through use of the value play concept, especially as it applies to the retailer, will end up with far greater wealth than those who implement a simple buy-and-hold strategy.

The financial implications of value-added measures can be quite significant for the retailer. Through the concepts illustrated in the value strategy and the application of leveraging significantly higher returns can be achieved.

Duncan Seward is a Vancouver mortgage broker. His role as a Mortgage BC borkeris the focus of his business. He is an expert in bad credit mortgage refinance applications. Poor credit loans need not be a concern to clients with a damaged credit history.

Technology and Mortgages 2

Thursday, May 21st, 2009

The writer is a Vancouver mortgage broker who specializes in bad credit mortgage applications.

As a result of increased computing capacity and speed, lenders now link one software program to others that handle underwriting, closing, secondary marketing, and servicing functions. This technique dramatically increases the efficiencies provided by better technology. Such lenders as Countrywide and Washington Mutual today accomplish in scope and complexity what was unthinkable 10 years ago. Small- and medium sized lenders have experienced similar benefits. Consumers save more money when lenders increase efficiency, and they have more options when lenders offer more loan programs.

The Internet, improved technology, and proprietary software programs also allow secondary market investors to provide lenders with immediate confirmation of a loan’s eligibility for sale and a list of commitment conditions-the processing documentation and underwriting conditions the lenders must obtain to complete this sale. This confirmation enables the lender to make a loan decision quickly and eliminates additional processing steps, reducing the time, effort, uncertainty, and stress for the consumer as well.

Vancouver mortgage insight is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in
BC mortgage
matters. You can check out regular mortgage updates at his blog page
Vancouver Mortgage Rates.

Reverse Mortgage A Perspective

Friday, May 15th, 2009

The writer is a reverse mortgage broker with numerous reverse mortgage clients.

A reverse mortgage is sometimes called a deferred payment loan, and for a very good reason. Instead of paying off the home loan as you borrow money, the payments are put off (deferred). This is why reverse mortgages can be such a good choice for seniors; when you’re on a fixed income or living off of your savings, it can help to have some extra cash in hand to supplement.

Because payment is deferred, you are spending the equity in your home, rather than earning it (as you would with a traditional forward mortgage).

Since equity is an intangible value, you never feel the effects of the equity going down, but you sure feel the money flowing steadily into your checking account!

Vancouver real estate is the topic of most conversations in BC. Duncan’s Vancouver mortgage business gives him the insight to provide topical articles on the state of Vancouver real estate.

Reverse Mortgage Quick Notes

Friday, May 15th, 2009

The writer is a reverse mortgage broker with numerous reverse mortgage clients.

Reverse mortgages lenders provide an opportunity to access the cash in your home without having to leave your home. The following points provide a quick overview of reverse mortgages in Canada.

Here’s a quick rundown:
~ You’re a homeowner who owes little or nothing on your house. You decide you need more money to live the lifestyle you want, but your biggest asset is your home and you certain don’t want to sell it to get the money you need.

~ A reverse mortgage lender figures out how much it can lend you based on your home value, your age, and interest rate and loans you some percentage of the money you would t gotten if you’d decided to sell your home.

~ You still own your home and continue to live in it, but you’re getting payments from the lender, so your cash flwo problem is solved.

~ You pay the loan back (with interest) only when you don’t live in the house full time anymore, usually due to moving out death.

~ You never owe more than your home is worth, no matter much you’ve accumulated in debt.

~ You keep any leftover equity after the sale of the house; if owe the lender $67,000 and your home sells for $200,000, put the difference in your pocket and walk away smiling.

Duncan Seward is a Vancouver mortgage broker. Mortgage BC is the focus of his business. He is an expert in bad credit mortgage refinance applications. Poor credit loans need not be a concern to clients with a damaged credit histories.

Reverse Mortgage Basics

Thursday, May 14th, 2009

The writer is a reverse mortgage broker with numerous reverse mortgage clients.

People tend to shy away from the very idea of reverse mortgages, in part because of their former bad rap, and in part because of all the scary terminology. If you’re one of millions of people who are unfamiliar with real estate terms, when someone starts spouting off about how you can “utilize the equity in your home on deferred payments with a conversion mortgage,” chances are pretty good you’re going to tune it out. In fact, that’s why I wrote this article to give seniors and their families facts and tips about reverse mortgages in language that’s as approachable as a big-eyed puppy (unless you’re a cat person, then just think of it as a little fluffy kitten). We want you to fully understand the benefits and disadvantages of getting a reverse mortgage. We want you to walk into that loan originator’s office knowing exactly what you want. And most importantly, we want you to feel good about whatever decision make for your financial future.

Vancouver real estate is the topic of most conversations in BC. Duncan’s Vancouver mortgage business is gives him the insight to provide topical articles on the state of Vancouver real estate.

Real Estate Investing and It’s Alternatives

Tuesday, May 12th, 2009

Vancouver real estate investing should be in balance with its alternatives. Return and risk should be balanced. The following article provides an example of an alternative. The article is excerpted from Real Estate Investing for Dummies Canada.

Vancouver real estate is the topic of most conversations in BC. Duncan’s Vancouver mortgage business is gives him the insight to provide topical articles on the state of Vancouver real estate.

Vancouver real estate typically stands out from other investments because of its stable and long-term nature, and the chance to derive a steady income from assets month by month. These three characteristics make it a preferred choice for many, but if you’re not up for the risks inherent in real estate investments you might be safer with an alternative.

We’re all for you making real estate your primary investment choice, but a mix of modesty and sheer prudence compels us to recommend a balanced portfolio. Because real estate carries its own measure of risk, having a diversified portfolio that includes a mix of investment vehicles is in your interest – just so your entire nest-egg isn’t wiped out by, say, fire, flood, locusts, or a band of determined termites. If you need help, consult one of the many reference works available, such as Investing for Canadians For Dummies by Eric Tyson and Tony Martin (Wiley).

Fixed-term Investments

Bank accounts, guaranteed investment certificates (GICs), and bonds are stable investments with minimal risk and a guaranteed return. Fixed-term investments are great if you don’t have a lot of cash to play with or need readily accessible funds, but if you’re holding a lot of them, consider real estate a step up to a more sophisticated form of investing.

The difference in return can be significant, with real estate often appreciating at a rate three to five percentage points above inflation. And unlike real estate earnings, interest received on term deposits and bonds is fully taxable as income and also subject to inflation. A GIC may offer a 4-percent return on your cash, but if inflation is 3 percent, you’re seeing an effective return of just 1 percent on those dollars. Even if you’re in the lowest tax bracket, you’re probably just breaking even.

About the Reviewer
Vancouver mortgage insights is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in BC mortgage matters. You can check out regular mortgage updates at his blog page Vancouver Mortgage Rates.