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Investors In Residential Real Estate Now Have New Limits Because Of New Mortgage Rules

Aug 11

Posted by Rob Kosberg in Financial | No Comments

by Rob Kosberg

Fannie Mae was a semi-independent company that carried out its last act as such several weeks ago. This year Fannie Mae has carried out 22 updates.

The new guidelines first set a limit on the number of properties that can be owned by one person. Formerly, one person could own 10 properties. Now, mortgage requests for a loan for second homes or investment properties will be denied if the mortgagee already finances more than a total of 4 properties.

There is a loophole, however. Fannie Mae will not count properties against the 4-property limit if they are held in the name of a corporation. This holds even if the real estate investor is the sole owner of said corporation.

Therefore, it might prove beneficial for investors to restructure their properties into a corporation and avoid the 4 property limit. Now, this is a good idea to help gain mortgage approval even though some investors have taken this action for tax and liability reasons.

Secondly, some of the guidelines do not have such a loophole. All investment property mortgages will be assessed with new loan-to-value based loan fees by Fannie Mae.

*3.75% loan fee – Loan-to-value 80.01-90.00% *3.00% loan fee – Loan-to-value 75.01-80.00% *1.75% loan fee – Loan -to-value less than 75%

These fees are mandatory and are in addition to any whatever other risk-based loan fees Fannie Mae may assess. Currently, those fees amount to a half-percent at minimum for real estate investors.

The government hasn’t released any information about possible relaxation of mortgage guidelines since their Fannie Mae/Freddie Mac takeover. If the guidelines loosen up, this would be helpful for real estate investors. If those who want to mortgage property can’t qualify for a loan, lower rates aren’t going to be a lot of help.

If you’re currently in the market for an investment property (or two), consider that it may be cheaper and simpler to purchase over the near-term versus the long-term. And consider moving your existing properties into a corporate structure first.

About the Author:
If you are in the early stages to Buy a Home then check out Rob Kosbergs’ Detailed FREE Guide on Buying your Dream Home with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog

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Enforcing The Rental Contract Properly

Jul 10

Posted by Britnee Nguyen in Financial | No Comments

by Britnee Nguyen

Landlords who own rental homes in Utah may want to consider using Utah property management such as KeyRenter to handle the rental contract. Sometimes tenants aren’t abiding to the terms of the rental contract and need reminders or notices given to them. Sometimes it happens the other way around where landlords are following the contract and the Utah property management steps in on behalf of the tenant.

Enforcing the rental contract needs to be handled in a tactful way. If it isn’t, both parties could get offended and not want to work with each other any more and burn bridges for future references and referrals. If you must enforce certain terms such as paying the rent on time, the landlord should listen to their side of the story before coming up with conclusions on why they haven’t been paying.

Sometimes tenants face a job loss or other financially difficult times. At these times, they are allowed to break the contract if they pay the termination fee. Homes for rent in Utah have contracts that are written so there are no misunderstandings between the landlords and tenants.

KeyRenter pays attention to both parties to make sure both of their needs are met in a timely matter according to the contract. They take over the role of landlord and will give late payment notices if needed. They’ll even send out eviction notices on behalf of the homeowner if a negotiation hasn’t been made and tenant still doesn’t pay the rent.

It’s not difficult to enforce something like paying the rent or keeping the property undamaged because these things were written in a contract. This contract was signed by both the landlord and tenant so they know what is expected of them. If the landlord keeps entering in the rental property without giving advanced notice to the tenants, they could complain to the Utah property management if this was something stated in the contract.

Whether you are a tenant or a landlord, read over your contract carefully to know what is expected in your roles. Utah property management can assist in creating the contract as well as enforcing it to both parties when necessary. The contract is important since it is considered a legal document and can be used against you.

About the Author:
KeyRenter assists hundreds of Utah homeowners rent out their homes. As a Utah property management company, KeyRenter handles leasing, management, and accounting for various rental homes in Utah.

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Master Cleanse Secrets Weight Loss

Jul 10

Posted by Nicky Harrows in Health and Fitness | No Comments

by Joseph Mento

The Master Cleanse diet is undisputedly effective when it comes to is detoxifying and weight loss properties.

But just because this is so does not mean that the diet isnt demanding at all. You need to approach the diet with all the information you could possibly need, an open mind and strong discipline. And this is why you will need to have a copy of Master Cleanse Secrets nearby while youre on the diet.

The Master Cleanse diet is basically a fasting diet which means that you will have to go on without food for a straight number of days.

The dieter will have to subsist mainly on lemonade that is made with lemon juice, cayenne pepper and maple syrup.

But just because it is a fast does not mean that youll have to go through the 10 days all weak and without any form of nourishment at all. The lemonade is full of all the vitamins and minerals that you would otherwise get from your meals. The cayenne pepper and lemon juice are added for their cleansing and mucous lining loosening properties. The maple syrup is for adding calories to the drink.

That said, what then makes the diet a bit too drastic for other people? The psychological and physical aspects of the detoxification are what really make dieters crumble.

The first thing that makes dieters start clicking their teeth is the no-food policy of the diet.

Your body will start sensing that youre not eating anything and it will force your body to react appropriately, by making you eat. This will make you feel all those hunger pangs and the adjustment could be really hard. The next thing is that youll start missing how it is to chew. But what the Master Cleanse Secrets can do is to give you a list of foods that you can eat without endangering the success of your diet.

And then there is this issue with the side effects of detoxification. It is normal for you to feel your that your joints are becoming sore or your body aching in different places. Thats all due to the strong cleansing thats happening inside of your body. The solution?

Master Cleanse Secrets will give you all the tips and techniques you need to get rid of those side effects.

About the Author:
Before you purchase the master cleanse secrets guide stop and read my truthful master cleanse secrets guide review now

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Save Money On The Home You Own

Jul 7

Posted by Britnee Nguyen in Financial | No Comments

by Britnee Nguyen

If you’re a homeowner, you might be looking into ways to save money on the home you own especially if you’re facing foreclosure. To avoid foreclosure or to make some money off of your home, some have chosen to have roommates move in and some choose to do a sale where you hand over your home to the bank and they’ll sell it and pay off your equity with the profits. Many have chosen to lease or rent the home they own.

You can move out to a smaller, inexpensive place or move in with family and friends. In the meantime, rent out your home to a reliable tenant who will pay their rent on time. Rental homes in Utah sometimes receive more rent than their homeowners’ monthly mortgage payment. That’s why it’s important to offer the right monthly rental price of your property. If it’s too low, you’ll lose out on money and if it’s too high, then you’ll have a harder time to find a tenant willing to pay it. Depending on the location of homes for rent in Utah and the condition and size of it will make up the rental price.

It’s pretty easy to find a tenant during this time in our economy. Many are looking to increase their credit score and can do so by renting a home. KeyRenter helps homeowners with their rental homes in Utah to find tenants to occupy them. Choosing the right tenant is an important part of renting your home. If you don’t choose a qualified tenant, it will cause you problems in the future such as rent payments on paid on time.

By downsizing while renting out your home, you are able to save money while others are paying your mortgage. While you wait for the housing market to improve to put your home for sale, you are able to accumulate savings for your new home. When using Utah property management they are able to provide the renting experience in a stress-free way.

As a homeowner, renting your home might be something new to you and you’re not sure of the technicalities and legal terms of renting. Utah property management’s job is to provide you with the tools necessary for homes for rent in Utah to run smoothly. They can show your rental property to interested applicants and answer any questions they may have. They are also in charge of collecting the rent check and dealing with maintenance issues or tenant issues. This saves you a lot of time and money not having to worry about these issues when professionals are working for you to get the issues taken care of.

With KeyRenter, they charge just a $75 flat fee for monthly management in Utah. Compared to other Utah property management companies, this is one of the most inexpensive deals. Other companies charge 8 to 10 percent for managing your property and don’t offer a variety of services. The $75 is a better deal if you have a rental property going for more than $750 a month. Saving money on your home can be easy when you choose to rent and downsize to a smaller property.

About the Author:
KeyRenter assists hundreds of Utah homeowners rent their homes. As a Utah property management company, KeyRenter helps with leasing, management, and accounting with rental homes in Utah.

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