Q: As a Seller, my realtor is pressuring me to offer owner financing. Why should I do this if there are mortgages available? Stan H., Seattle, WA A: In recognition of a soft market, some realtors are recommending owner financing as an option for a quicker sale. While it makes sense for some sellers, there [...]

Q: What is a Good Faith Estimate and what should be included? Patty M, Los Angeles, CA A: All reputable mortgage brokers should be willing to give their clients a Good Faith Estimate or GFE outlining the costs associated with financing a real estate transaction. In the US, Truth In Lending Laws mandate a GFE [...]

Q. “How secure is my property if I purchase in Mexico?” Chris M. – San Francisco, CA. A. Very secure. In the “restricted zones” along the coast or near the border, foreign buyers are required to place the property in a Trust (Fiedecomiso) with a Mexican bank. The buyer is the beneficiary of the Trust [...]

Q: “What is the difference between a Mortgage Broker and a Mortgage Banker?” James G., Springdale, AR. A: The Primary Mortgage Market is made up of a variety of players involved in the lending of money to the actual consumer. These players include the Borrower, Mortgage Broker, Mortgage Banker and the Banks who do the [...]

Q: “How can I determine what loan for Mexico that I can afford?” Christine H., Denver, CO. A: Determining how much of a loan you can handle is relatively easy. You can go online to our website and fill out the pre-qualification form; we’ll work the numbers and provide you with an estimate of costs and what [...]