https://magazine.realtor/daily-news/2020/05/05/more-banks-halt-helocs Banks have been tightening requirements for loans due to the Wuhan COVID-19 pandemic. Lines of credit are new casualties. JPMorgan Chase and Wells Fargo have announced that they will no longer be accepting applications for new HELOCs.
Category: Financing
If you haven’t heard already, it is harder to obtain financing for real estate purchases. Forbearance is being forced on banks. They are required to let borrowers skip mortgage payments. They can recoup the missing payments with interest later, but Read more…
Late night TV gurus sell you on the fabulous lifestyle that can be yours if you invest in real estate. They tell you that you can do it with no cash and no credit. The typical formula is to buy Read more…
Before doing too much shopping for real estate, you really need to make sure you are eligible for financing, unless you are planning to pay in cash. Sellers will generally not consider your offer unless a preapproval letter is attached. Read more…
The U.S. has some of the most affordable real estate in the world, as pointed out in my earlier posts. Rental yield or rent versus price is also higher than in most other countries. This is because of the real Read more…
Financing up to four properties is relatively easy, if you have the income. When you get beyond four, things get a lot trickier. Although Fannie Mae guidelines allow up to 10 financed properties, the reality is that many banks do Read more…