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 The latest example of the conflict between PR and policy, concerns the effort to standardize loan rules nationwide. Such legislation is needed, we"re told, because puzzled and bewildered lenders can hardly keep up with the complexity of changing state rules. Remember, these are the same people who manage to assemble reams of mortgage documents that borrowers are supposed to read and sign in 20 minutes at closing. When it comes to squeezing a dollar out of the poor, the illiterate and the financially troubled, our national goal is to leave no lender behind. If you don"t believe it, take a look at the alleged Home Ownership Equity Protection Act of 1994 (Section 32 of Regulation Z, part of the Truth in Lending Act), the national joke that"s supposed to protect consumers from the country"s worst lenders.
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Nearly a quarter-million more families in high-cost areas throughout the country could qualify for financing if the federal limit was raised on mortgages that can be purchased by Fannie Mae and Freddie Mac, according to a new report. The report by the California Association of Mortgage Brokers on the economic benefits of boosting the so-called "conforming loan" limit also says borrowers could save anywhere from $57 to $171 a month because of the one-quarter to one-half percent interest rate benefit accorded to such loans because of their government connection. "Every taxpayer should have equal access to the government subsidies through Fannie Mae and Freddie Mac," said Michael Faust, chair of CAM"s Government Affairs Committee. 
Question: Our house deed has the following language: "grant and convey unto John Doe and Mary Doe, his wife, to hold as tenants by the entirety ... ." Can you please clarify this for us? If one of us should die, is the remaining spouse the sole heir of the property? In these days post-Terri Schiavo, I want to make sure that my "house is in order." Answer: Yes, should either of you die, the surviving spouse will be the sole owner of the property. You have asked two legitimate -- but unrelated -- legal questions. Let"s look at the Terri Schiavo issue first. Our nation has gone through an unprecedented legal battle -- and a battle which could have been avoided if Ms. Schiavo had prepared what is known as a "living will." I will not take sides -- or even comment -- on the Schiavo case. 
I just returned from a meeting in the wonderful town of Coeur D"Alene, Idaho. Twice a year I have an opportunity to meet with other well-established real estate brokers and property managers to discuss the future of real estate investments. This time we discussed Capitalization Rates (CAP). What is the CAP Rate? The capitalization rate (or CAP rate) for a property is determined by dividing the property"s net operating income by its purchase price. The CAP rate is used in addition to the cash-on-cash return by many investors to compare their investments to other similar real estate investments. It is used as an indicator because the numbers employed are pre-debt service.