4 Loan Amortization Tips to Help Borrowers Pay Their Mortgage Off Quicker
On the surface, loan amortization is easy to understand. But the concept can also be incredibly nuanced depending on the details of your mortgage and what you are trying to accomplish. You will find a loan amortization schedule on your mortgage statement, and it will detail exactly where your payments are going each month. While it may appear set in stone, you can alter your amortization schedule at any time using simple techniques. Whether you want to lessen the amount of interest paid or reduce the term, below, we’ll go over four tips that can help you...Read More
Seasoned mortgage professionals know.
Even after 24 years in the mortgage industry (as of April 23, 2021), I found that I was still trying to improve upon my follow-up system. There are so many systems out there to choose from, so many suggestions and recommendations that all sound great, until of course you attempt to try them out for yourself. Some systems of course tend to work short term, but with others you painfully discover that they’re simply an all-out waste of time. Now, any seasoned mortgage professional knows that your biggest expense in this industry is undoubtedly leads, so it’s...Read More
Lending and California’s Usury Laws
California usury laws add a layer of complexity to doing business in the state. Usury laws limit the amount of interest that can be charged by various parties, and usury is the charging of interest in excess of the amounts permitted by those laws. The California Constitution characterizes “interest” as fees, bonuses, commissions, discount, or other compensations received from a borrower. Before brushing aside usury laws, it is important to know that any lender that originates a usurious loan in California will be subject to tough civil penalties. Unfortunately,...Read More
Duties Under the Code of Ethics and Standards of Practice of the National Association of Realtors
The Preamble to the National Association of Realtors’ (NAR) Code of Ethics and Standards of Practice begins with: Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. [Realtors] should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and...Read More
