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Landlords who are looking to maximize their profits need to be efficient. In today's world, an office filled with paper work costs time, space and money, too. Today's landlords know property management software solutions can manage multiple investments with ease.

Rental Arrears

As an owner of a property, one of the worst situations a landlord can face is a tenant who is failing to pay rent on time. The situation can build up quite rapidly. Learn what to do to solve things rapidly.

Eviction Notices

Not all tenants are created equal. There comes a time when a landlord may need to protect their investment by evicting a tenant from their property. This article covers the correct ways to serve an eviction notice quickly and easily.

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Home · News · More Than 17 Million New Home Loans In Trouble

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More Than 17 Million New Home Loans In Trouble

Federally backed loans are fairly easy to come by if the applicant meets the standards imposed by HUD, but the changes that the US government plans on enacting will cause 17 million home loans to fall through. In most areas, the cap that the government has put on the maximum loan amount, $625,500, is more than enough to buy a respectable piece of property. However, home shoppers living in areas with a high cost of living will be unable to get a home, at least in a safe part of town. The National Association of Homebuilders estimates that approximately 17 million new home loans that are in limbo will not be approved by the October 1st cutoff date.

In an industry where every single home sale counts, having 17 million potential homeowners suddenly find that they have lost their earnest money could be catastrophic. The mortgage companies are still permitted to keep the application fees and other monies collected, but these home shoppers must find another way to close on the properties that they are interested in. In California, New York and Florida, home prices can be surprisingly high. It is not uncommon for first time buyers to look at properties valued over $1 million.

Once the new rules go into effect limiting the amount of money that the federal government will back on mortgages, many shoppers will need to look for alternative financing. Even those with proven track records with loan repayments may have to reduce the amount of money that they spend on their homes.

21.06.2011. 15:25


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