Moishe Alexander’s Blog

Posts Tagged ‘affordable housing

Moishe Alexander has found that Federal authorities have accused Wall Street’s premier firm Goldman Sachs of perpetrating major fraud during the mortgage boom which prefaced the recent crash. This would mark a critical moment in the effort to reveal scams in one of the worst financial crisises in decades.

The fraud charges against this industry leader allege that the company broke numerous laws when it sold an intricate housing-related investment that was obvious would fail, costing $1-billion in losses.

The scam charges are the most serious blasting to date of the firm’s behavior in the leading up years to the most recent financial crisis, and since they arrive just as lawmakers are deciding on how to change the way the banking system operates, they could also drastically change the debate now happening in Washington.

News of the lawsuit, filed by the SEC, sent the firm’s shares diving almost 13% and destroyed $12.4-billion of its market value. Other bank’s shares, such as Citi and Bank of America, also paid a price as investors freaked out about the possibility of increased investigations and stronger regulation of the market.
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Before this most recent economic downturn, the mortgage market was an absolute free-for-all. Brokers would look high and low to find anyone whom they might be able to scam away as a good borrower.

These fraudulent brokers would heap excess amounts of money to the loan to cover all household purchases including furniture.

When Barack Obama took office in November 2008 he vowed to fight this scam and fraud head on with strongly regulated borrowing laws. He failed to deliver on these promises and turned out to be a closet Liberal who wants everyone to own a home regardless of whether or not he can afford it.

Back to the drawing board. The following are 5 tips I strongly advise for easy preapproval of a mortgage:

1. Shop Everywhere…and Early On

Speak with various lenders to help decide which package will suit you best, Since no one person will have the best solution for you, make a point of shopping around a lot. Though, you must ensure you begin shopping early, as when you are pressed for time you will end up with terrible advice and will end up with a package you are unhappy with.

2. Prepare your Financial Bio

In order to be preapproved, the lender is going to want to assess your file very well. Have all the information of your past written down and written well. The easier it is for the lender to understand, the higher chance you have of being preapproved nice and early.

Check of the following as you prepare them:

  • W2’s from the past two years
  • The last two months bank statements
  • Proof of income from investments
  • Last 2 years worth of tax returns
  • Recent proof of income

3. No ONE lender can obligate you

4. Watch your Credit Score

The credit score is a crucial part of the lending process and as we explained earlier, this is now becoming something you will not be able to play around with. Bad credit score, no loan.

5. Watch the Expiration Dates

The preapproval letters from various lenders usually tend to have expiration dates usually around 90 days from the date issued. Ensure you have not passed the date, as you risk losing the quoted rate.

Wishing you luck on your mortgage!

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New housing starts rose 17 percent in May, according to figures released this morning by the Commerce Department, the third consecutive monthly increase. Building permits for new housing construction also rose, up 4 percent over April’s figures. Both figures well exceeded analyst’s projections; a survey by Dow Jones Newswires had predicted increases of 7 percent and 2.5 percent, respectively.

Casting a cloud over the positive news, however, was a report yesterday from the National Association of Home Builders suggesting that home builders have grown slightly more pessimistic in June about upcoming market trends. A three-quarter point increase in mortgage rates in recent weeks appears to be the main factor in dampening builder’s outlooks this month despite the strong uptick in May.

Unusually large increase in multifamily starts

New construction starts of single-family homes were up 7.5 percent in May, while construction starts of multiunit apartment buildings and condominiums of five or more units were up 77 percent following an unusually sharp decline in April. Both figures are subject to fairly large sampling error, so data for multiunit construction starts may represent a return to normal.

The sampling error on new construction permits is much smaller, however, suggesting that the 4.0 percent increase for May is pretty much on the mark. The Commerce Department cautions that four months are needed to establish a trend in any of the new construction data, meaning the three months of increases in new housing starts are approaching that mark. Moishe Alexander is president of Canadian funding corp.

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Info from Moishe Alexander

There is an energy efficient home. From Florida to Alaska mortgage lenders are increasingly using energy mortgages to make homes more affordable and poising their companies to capture this new market trend.

What is an energy mortgage? An energy mortgage is a mortgage that credits a home’s energy efficiency in the home loan. There are two types of energy mortgages:

Energy Improvement Mortgage – Finances the energy upgrades of an existing home in the mortgage loan using monthly energy savings

Energy Efficient Mortgage – Uses the energy savings from a new energy efficient home to increase the home buying power of consumers and capitalizes the energy savings in the appraisal

In 1995 the Residential Energy Services Network (RESNET) was formed as a partnership between the national mortgage industry, Energy Rated Homes of America, and the National Association of State Energy Officials.

The ability to leverage a home buyer’s investment in energy efficiency increases the number of qualified home buyers and increases the purchasing power of the consumer. A recent analysis by the Environmental Protection Agency confirmed that energy efficient mortgages can have a dramatic impact on increasing the opportunities for home ownership. The analysis found that an average of 6.8% more families would be able to qualify for a mortgage through an energy efficient mortgage.

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Monday, June 15, 2009

Moishe Alexander says to turbo charge your portfolio. Stylish 5 bedroom 2.5 bath suited home has over 1178 sq ft of rental space plus a triple detached garage. Separate 2 bedroom suite with separate entry pulls in extra cash flow.

Comes complete with great tenants making this a totally turn-key property for you. Convenient area with nearby access to the new Ring Road and access to refinery row. Excellent neighborhood and HUGE upside potential due to the great purchase price, strong economic fundamentals and the mature area of Edmonton’s North East neighborhoods.

Produces $340 positive cash flow per month using an investor’s mortgage plan – taking advantage of current low rates

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A good number of well-intentioned families have put off the thoughts of purchasing a home. They are waiting for a time in the distant future when house prices

are stable and job security is no longer a joke. Unfortunately, they are missing out on a great time to buy.

Moishe Alexander says now is the right time

Why is it such a great time to buy? The truth of the matter is that there have never been better deals on real estate in Toronto. Supply is unlimited and demand is at an all time low which means that there are a lot of great deals out there. But just because there are good deals doesn’t mean that YOU should be buying. The following will help you determine whether or not now is a good time for you to buy

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Its a good time to buy with Moishe Alexander

End of year and December give you the good opportunity to purchase real estate.In this time you can pick up a bargain real estate from a motivated seller and you can also save on your purchase costs.
1.Real estate buyers put off looking for a house that holiday decorating,parties,shopping or celebration.Furthermore,the winter makes real estate buyers prefer to stay home because effect from cold weather. For this reason make a low competition from other real estate buyers.

2.Home sellers who didn’t sell pending the recent buying frenzy are worried that their home will not sell. Because,most home seller offering their home for sale while the holiday season is motivated.
3.Any real estate agents who want to take their holiday same other people.They need to sell they house quickly,the agents aren’t as busy,you get good service They’re more likely to take low offers seriously. Real estate agents love buyers or investors ready to buy real estate while December.

4.On december,Interest rates continue to creep up. Who knows what the rates will increase to next year?

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