HouseBuying

Property ownership means you are not paying monthly rent any longer. You need to consider if buying a home is smart move. If you want to be a successful real estate investor, you have to build up the skill of getting a great deal rather than getting a home to buy. There are lots of ways on finding properties to buy. You can find a property in newspapers, Multiple Listing Services or even for sale by owners. If you already can afford to buy a real estate property, then it is the right time for to purchase one. Before doing it, you have to shop around so you can find the right home for you. Aim for a home with lower price and low mortgage rates that you can afford. Be sure your credit history is clean...

The down payment seems to be one of the most important factors in buying a home. As it should be, because the more money you put down, the lower your total monthly mortgage payment will be. A down payment should be determined by the following questions: 1. How much can you afford? You should NOT consider all the money you have in your savings account towards the purchase of a home. Why? Well, let's say the water heater happens to break down in the first year of buying the home. That kind of break down can cost thousands of dollars! It's something most people would never expect, but it's possible. You see, most people buy an existing home (especially a first time home buyer) and existing homes...

Rent to Buy is a new approach which provides home buyers the opportunity of home ownership without taking on debt. It works like a normal rental agreement within a normally 20%-30% rental payment which is put towards the price of the home. This is a wonderful option for those people who want to purchase a home right now but may need a little time to build the credit score or who may need time to acquire enough down payments. So, what exactly is entailed by a lease purchase or rent to own? A good standard rental lease enables you to only live in a house but it gives you no right to own or purchase a property. It is usually associated with move in expenses such as deposit or security deposit. But if...

Buying foreclosure property can yield substantial savings, as long as buyers understand how to capitalize on available options. Most people are familiar with buying houses through foreclosure auction, but this is not always the best approach. Foreclosure property sold at public auctions often has two or more mortgage loans attached. Real estate auction prices are established based on the balance owed on the first mortgage. Buyers are responsible for conducting due diligence to determine if additional mortgages, tax liens, or creditor judgments are attached. If so, buyers must engage in negotiations to pay off outstanding balances in order to take possession of the property. Another drawback of...

ord bank comes from the Italian banca or money. Banks profit from transaction fees for services provided and the interest rates of loans / credits. Because its function is the people who need money loans will generally go to the bank. But the bank must borrow to order. Not every person who asked money loans will be approved immediately. Many of the requirements to complete and equip. If one of the requirements are not met. Of course it would be difficult to get money loans. Money loans may be the parents or relatives. But it is not recommended. Because if we can not pay can occur in the family division. We recommend that money loans to the official financial institutions such as banks that have such...

As long as the sale is completed by the end of June 2010, you can get your share of the Stimulus Package. Act NOW and you can make it happen.   The death of the sub-prime mortgage has discouraged a lot of folks who really yearn for the pride of home ownership. There is just something special about coming home after work to a home that you can call your own. Sure, you still owe somebody a bunch of money for it, but you know that if you take care of your home and even improve it, you alone will benefit. Almost everyone at some point in their lives experiences situations which can injure their credit rating. Job loss, divorce, illness and even imaturity can devastate your credit and if you don't...

Stamp duty is a tax that has existed for hundreds of years in countries with English law. It is essentially a tax that is levied on documents. Historically, the documents were stamped as evidence that the duty had been paid. In modern times, physical stamps are no longer used. Transferring property from one party to another is a transaction that can attract stamp duty. This is why it is payable when you buy a home. The tax is paid because property is being passed from the seller to the buyer. It is the buyer of the property who must pay the duty. Although stamp duty is levied in all states and territories in Australia, it is not a federally collected tax. Each state and territory is responsible for...

You've heard that investing in real estate can be very lucrative. Before you get started, here are seven questions to ask yourself. 1. Is this a hobby or a business? Ask yourself why you want to invest in real estate. - Do you want another income stream - Do you want to build equity in a house - How many sellers and buyers do you want to speak with each day/week/month - How much time do you have to invest in real estate - Are you working a full time job - Are you retired looking for additional income - What do you want to do with your time? If you want to build a real estate investing business, then you need to treat it like a business. Are you going to be a landlord? Then you need to determine how...

How to Buy a House - 12 Easy Steps! Whilst we can tell you how you can buy a property, we cannot tell you the best time to buy a house as that depends purely on your circumstances. In this day and age it is not often straight forward - because banks and lenders are getting tight with their criteria, you have to go the extra mile to get your property! 1: Decide when you want to buy a house. 2: Add up all the money you have at your disposal for use as a deposit and works that might need doing once you buy your property. 3: Have a good mortgage broker or mortgage advisor. 4: Pick a solicitor 5:  Start looking for properties within your budget and chosen area. 6: Once you find your desired property...

In a previous post we stated that we expected to see an increase in Texas refinance loans in the as we got into the third quarter of the fiscal year. As it turns out, that increase in refinance applications might be here sooner than we thought. The Mortgage Bankers Association (MBA) announced last week that there has been a steady trend of increasing refinance applications. A spike of 9.2% from the previous week (June 21-25) is the most the Refinance Index survey has seen since the week of May 10--May 15, 2009, just over one year ago. Refinance applications do not necessarily translate into closed deals, but obviously there is a positive correlation. Additionally, the four week moving average for...

WHAT IS A GFE? A "Good Faith Estimate" (hereinafter, named GFE) is exactly what the name says. It is an estimate and a breakdown of costs for your home purchase. It includes, but is not limited to, showing the purchase price and your down payment amount, origination fees, underwriting & processing fees, recording fees, title fees and your taxes and insurance associated with the filing and closing of your home loan. It will also give you an "estimate" of what money you will need to bring at the closing table. GUIDELINES CHANGES FOR 2010 The guideline changes in the mortgage lending business effective January 1, 2010, are massive and will affect the way lenders conduct themselves with the public...

The Credit Crunch has been hitting the UK Mortgage Sector hard as many easy credit mortgage deals have been removed from the high street shelves in recent weeks. Despite central bank actions to ease financing terms and increase liquidity, this does not address the real issues of illiquid mortgage related bonds and expectations that the UK Housing Market will slump on the back of a surge in foreclosures. UK Mortgage Banking Sector - Northern Rock On the Brink of Going Bust For an example of the credit crunches impact on the UK mortgage banking sector , we need look no further than at Northern Rock. The mortgage banks stock price has fallen from recent highs of £12.58 to recent lows of just...

If you have a mortgage do you use your checking account to do your monthly banking? If you do you, then you are not alone. Millions of homeowners just like you are making this one mistake which could save you tens of thousands of dollars. One of the biggest weapons available to homeowners is the use of a mortgage checking account. Using a mortgage checking account is the same as taking a hand grenade to a knife fight. Why? A mortgage checking account is a smart alternative to saving money and slashing years off your mortgage. Originating from Australia in the early to mid 80's, these financial products have spread to other countries including a few bank institutions in the United States. These...

Are you are planning to buy a home? Do you want to do things a little smarter than everybody else does? Maybe save a few thousand dollars off the asking price, and have more negotiating and purchasing power? Sure you do! In order to understand what I am about to share with you, let us consider what typically happens in normal real estate deals. A potential buyer calls a real estate agent, who generally prequalifies them to determine if they can afford a home. The agent then gives them a list of properties to look at (or shows them personally), and the buyers look at properties until they find one they like. Now, many homebuyers, when they think they have found their "dream home," will fall victim to...

If you are looking for a suitable avenue for finding your dream home that would suit your budget, nothing can be more ideal than Tampa foreclosure listings. With thousands of prime housing options combined that come with some of the best residential benefits choosing a foreclosed home in Tampa city area is one of the best real estate deal than you can ever make.   Exclusive features of buying a home through Tampa foreclosure listings   The city of Tampa is one of the most sought after residential destination in the United States and now with a large number of foreclosures taking place in this region, home buyers can take their pick from some of the best properties which are being sold at...

When I first learned about real estate, I noticed that Real estate brokers and family members would always refer to their home as a "great investment". So I would think to myself, wow if this is such a great investment, how come my family and other adults have no money. I always thought an investment gives you money. I asked my uncle, who was a real estate broker to explain housing real estate to me. He said "listen, buying a house is great, but don't confuse that with an investment. Most do not realize they make no money at all by buying their first home". This made no sense to me, you spend $200,000 on a house and it goes up in value to $260,000, you sell it and make $60,000 right? I came to learn...

Some people just can't afford to buy a home and the best solution for this is renting. But base on a theory went you rent for a long period of time, buying a house is more reasonable. Down payment for a house will cost you a lot of money, so some people are renting and save money so they could afford on buying a house. In some places like in Tampa Bay, Florida, looking for a house to rent is base on the cyclical property as well as seasonal. You should about how much it will cost you when renting a house. We can say that the cost will depend on the location and the value of the property. In renting, before moving in, some land lords will ask you to pay 3 months in advance. This includes; the down...

1. Invent A "Credit" GiveAway, Worth $8000 2. Proof of Zero Tax Cuts Shown on IRS Form 1040 3. Prove To Yourself The Massive Redistribution Amounts, Using A Tax Calculator For those with a solid understanding of redistribution, you might prefer to move directly to Proof Shown on IRS Form 1040. The Treachery of Redistribution HEADLINE:"Poll Reveals Most Americans Don't Know They Got a Tax Cut." A February 5-10 New York Times/CBS News poll found that only 12 percent of respondents "think the Obama Administration has... decreased taxes for most Americans." Those doubtful Americans are indeed correct. In the case of the so-called Stimulus Package, the president's own page, RECOVERY.GOV, claims $288...

The First Time Homebuyers' Tax Credit is a government measure to strengthen a crumbling housing market. In order to be eligible, you have to purchase, or have had purchased, your first primary residence between January 1, 2009 and April 1, 2010. In order to actually apply for this new tax credit, you have to file form 5045: the First Time Home Buyer credit form. Beyond the actual purchase of the home, there are a few other stipulations for those considering filing form 5045. For houses purchased before November 6, 2009 you are ineligible if your singly filed income is above $75,000 or your jointly filed income is above $150,000. For houses purchased after November 6, 2009, you are ineligible if your...

Mortgage fraud in South Carolina has reached epidemic proportions. White collar criminal defense attorneys and lawyers in South Carolina need to be aware of the underlying circumstances of mortgage fraud and bank fraud schemes in order to adequately assist clients who may have criminal exposure. The SC mortgage fraud criminal lawyer must know how a federal mortgage fraud FBI investigation usually commences, the prosecutors' use of the grand jury process to obtain indictments, the status of the client as a witness, subject or target, the bank fraud laws involved, and how a sentence is imposed in federal cour As the economy continues to loom into uncertainty, staying defensive is a not a bad option...

In business there are many ups and downs along the way. When things are going great guns you need to consolidate your position and always be prepared for the rainy day. And God forbid, if the rainy day does arrive, you have to be ready to deal with it. But what if you don't have enough buffers in your business to tide you over rough times. Commercial Loans are just what you need at times like these to pull through any crisis and get back on your feet. But beware of money sharks in the market who might want to exploit your vulnerable position. These loans aren't very different from personal loans only they are used for business purposes and are often backed by hard collateral like real estate. In...

A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. You know investing in home is one of the safest investments as far as return is concerned. You can definitely make out a pretty good amount by buying a home today and selling the same in near future. If you are a real estate investor there is a good chance that you have heard of HUD homes. These are great investment opportunities, but just like anything else, there are some details that will stand in your way. Of course, if you put your mind to it you can get past the road...

For a long time, small local banks have taken a bad rap in comparison to the largest mortgage companies and the resources of mortgage brokers with access to literally hundreds of different lenders. With the collapse of many subprime lenders and severe tightening of credit in the consumer lending market, however, it may finally be time for homeowners to give their local bank another look. Especially if they may anticipate facing foreclosure or another hardship, working with a community bank may be much easier. One good reason to consider local banks is that the mortgage will most likely not be packaged, sliced up, and sold off to investors in the secondary market, with a change of mortgage servicing...

Having an understanding of the different kinds of loans is one very important decision when purchasing real estate. Knowing the simple truths can save you hundreds of dollars in the long run. People in general go and look at the interest rate and take the lowest kind the lenders offer. Without knowing the kind of loan they are getting. Conventional loans are not insured by the government. With this type of loan you will require a 5% to 20% down payment and the interest rate will be a little higher. The first real estate property you buy will be with a small down payment the second will require 20%. That's if you keep the first property. Having 2 or more properties you are considered a real estate...

An appraisal is simply an opinion of value. Some appraisals are a professional appraiser's opinion, others are guesses. Still others are based upon the sometimes harsh reality of the marketplace. The most important factors for appraisers are figures of recent real estate sales involving comparable properties. Basically, there are only two opinions that matter. (1) The list price is a "wishful-thinking" value, merely a hopeful estimate. It is set by the seller. The sale price is the real value. It is determined by you, the buyer. Of course, the price you finally agree to pay is partially determined by the seller through the negotiation process. But you and only you decide how much you are willing...

For a first time home buyer, you are taking on a monumental task, undoubtedly the largest task you will ever venture upon, financially speaking that is. Unfortunately, most of us don't have huge sums of money sitting around in our bank accounts to go out and pay for a house in cash. We must find a lending institution that will allow for us to borrow the money. The fun part of buying a home is going out to look at various houses for sale, and walking through what could very well be your dream home. But before you spend all of your time visiting open houses and walking through homes for sale, you will want to figure out how much you can afford. The last thing you want happening to you, is finding your...

The first time homebuyer's credit was a fantastic opportunity for individuals wishing to purchase home that did not have the capital for the down payment. Let's face it not many people have 10 or 20% for a down payment on a house that cost anywhere from $250,000 to over $500,000. Using 10% down on a $250,000 is $25,000 that's a lot of money. Making a 5% down payment is possible that would only be $12,500. Going back to the homebuyers program two different programs was implemented; one in 2008 and 2009. In 2008 the program was offering $7,500 that you had to pay back over 15 years. To me this reads a loan with low interest rates. I didn't like that plan. The 2009 plan is you can receive up to $8,000...

Do you want to know how you can get home loans for first time buyers? Are you willing to take that leap of faith and get a place that you can call your own? When you pay the rent for your crib, you only make your landlord rich. If you do not make an effort to get a place of your own within a couple of years after you rent, you will be stuck forever renting and making the pockets of your landlord fill up. One can easily own a home with home loans for first time buyers. A lot of people push back their plans of buying a home because of financial constraints. They try to save up for a home but yearly the prices escalate and so they postpone the purchase of the home they want. Unknown to most, there are...

There are several methods to obtaining a refinanced home loan. Some homebuyers refinance through their current lenders, whereas others shop around for lenders offering better rates. Instead of applying for a new home loan through banks or mortgage companies, online mortgage brokers provide homeowners with a detail list of lenders offering amazing rates for all types of credit ratings. Online Refinancing Option Although the Internet is useful for handling important matters, some people are leery about obtaining a loan through online mortgage brokers. Online refinancing is becoming increasingly popular. Most mortgage websites include comprehensive information about refinancing. The objective is to...

In today's mortgage market consumers are spoilt for choice when it comes to applying for a home loan. Banks, building societies, mortgage managers and mortgage brokers are all available for you to consult. Most of us are familiar with the first two; fewer of us know how they are different. And what exactly do they represent? The terms "mortgage manager" and "mortgage broker" can be perplexing. For most borrowers, the market is becoming more confusing, despite the fact that many people are now more educated about mortgages and property than they were five years ago, and there is a growing need for an explanation of what the different roles mean for borrowers. Mortgage brokers can arrange finance from...

When homeowners are sold a home or given a loan by unlicensed representatives, it may help their foreclosure lawsuit defense to raise these issues in court. Governments throughout the country have imposed so many requirements on any person attempting to do business in banking, real estate, and mortgage lending, that it is almost too easy to find licensing violations. This is the good part about licensing laws for homeowners defending against foreclosure. The bad part is that, despite all this government regulation, criminals can and do find their way into the lending industry and defraud large numbers of homeowners. Now that the economy has collapsed, some states have purged hundreds or thousands of...

Comedians have their minds full of lawyer jokes, such as "What's the difference between a lawyer getting run over and a snake? A snake has skid marks in front of it! One step down from lawyers on the ladder of shame are estate agents. They are the people who sell property. This article talks about how they privately push deals to cash buyers, and how developers get property with "no money down." Property is a hard business, and there are millions to be made and lost! The free market rests on the common principle that the best price is found for a product or service. Attempts to interfere with that are seen as illegal in many countries. I have for years seen properties sold under market value by...

Loan sharking is the practice of lending money to desperate people at extremely high and illegal rates of interest. Loan sharks, or shylocks, make a big profit from people who can't get loans from legitimate sources, such as banks or other lending institutions. For as long as people have needed money they don't have, there have been loan sharks there to provide their services for a fee. They introduce themselves as a solution to a problem; they are businessmen who want to help a borrower get out of a bind. Prey to these sharks can be compulsive gamblers, single parents, the elderly, illegal immigrants, white-collar executives, or anybody else who desperately needs more money than they have access to...

While it is the case that many home buyers are frantically trying to find an appropriate home to buy and get a binding contract signed as quickly as possible, it is important to not skimp on any of the important steps that are imperative to ensuring that your home buying experience is not just a reaction to the tax credit running out at the end of the month. In particular, one very important step that no home buyer should overlook is having your potential home inspected. A home inspection should always be a priority for home owners; even if you are well acquainted with the house that you are looking to buy, there can still be problems with it that you can't see. A good home inspector will be able to...

If you choose to buy a new home from a homebuilder, the new home will, to varying degrees, have features in common with other homes. This gives those searching for a new home to buy the advantage of being able to compare existing models to the new home they are considering. However, most people want their new home to reflect individual tastes. That's where the design center comes in. Because many higher-end new home builders offer custom design centers, this article seeks to explain how to use the design center - and how to finance your options and upgrades. Homebuilders offer design centers for at least two reasons. One is that the homebuilder wants to offer those searching for a new home to...

Given the current state of mortgages in this country, lenders are reacting by tightening up guidelines with respect to obtaining mortgages. There is some help for individuals struggling to make ends meet in this declining economy. If you are someone who has not stripped out the majority of the equity in your home, the often misunderstood home ownership accelerator could help many during this very tight time. With very few "cons" and so many "pros", I wanted to outline the highlights and some uses: Advantage No. 1: Are you a commissioned income professional? This is the best equity loan product for someone who is working a commission job! Because you are never making a true mortgage payment, and...

We've been unpleasantly surprised by the number of "Rent to Own" signs popping up this summer. Why? Because it's mostly a marketing gimmick to lease houses property owners can't sell. There's little benefit to the renter -- even a renter with bad credit or too much debt to qualify for a mortgage. These deals rarely result in a purchase and you could actually lose money. We're seeing more of these offers because houses aren't selling as quickly as they did the past two years. There's a growing backlog of unsold homes and prices aren't rising as quickly, either. Indeed, in many cities prices peaked last summer and have been stable or even falling a bit since then. That has put some owners...

Everyone wish to have his home. You would devote all time and effort so you can save for you dream house. There are so many things you can enjoy when you get to live in a house you can call your own. But the best thing from all these perks is the tax benefit for property ownership. The amount to be deducted varies depending on the type of house that you will buy. The only element that is common from all these tax advantages is they reduce your tax dues. Before you get deeper with these tax benefits, you have to take note of the basic terminologies so you can easily understand as you go along the process. One is the word point wherein it pertains to the starting fee that you have to pay once you...

So far in the foreclosure crisis and resulting meltdown of the financial markets, there does not seem to have been an increase in the number of banks seeking out deficiency judgments against homeowners. On the contrary, the market has really only seen increases in the number of banks attempting to unload their bad mortgages onto the government. As a result, it may be easier to get a loan modification through the government, if the loans are eventually taken over (like with Bear Stearns or AIG mortgages). But banks have not increased their activity in pursuing foreclosure victims for deficiency judgments. If homeowners are planning on using the "produce the note" defense to avoid a deficiency...

As mortgage brokers in Worksop we regularly talk to people in Nottinghamshire and throughout the UK about their finances. Many of the people we speak to in Worksop and beyond are keen to hear about ways they can save some money or reduce their outgoings. As mortgage brokers we are well aware that with interest rates being at an all time low, it might be tricky to reduce mortgage payments, but there are probably other things you can look at. If you, like many of our clients in Worksop, are paying out each month for a life insurance policy that has been running for a few years, there's a chance you could reduce your premium by reviewing the policy. Be careful though, if you do decide to review your...

The first step to Home Ownership is to meet with a local Real Estate Agent. A good agent will listen to your needs and concerns, will put you in contact with local lenders, will help you seek out the properties that will suit your needs and your budget and will guide you through the entire process from searching for your dream home to making it yours at closing. Your agent will protect your interests along the way. Find an agent that you're comfortable with, someone who will listen and someone who will communicate with you in a fashion that works for you. Remember this...the seller has their own agent working for them make sure you have your own agent working for you! Don't worry about compensating...

Contract negotiation is a strategy that plays a major role when selling or buying a home. Negotiating a home buying contract includes a number of factors that include, among other factors, the price of the home, financing, terms, and the date of possession. The negotiations may, or may not, include repairs and furnishings, or equipment. As part of the purchase contract, you need to negotiate the period of time you require to complete the inspections and investigations of the home. Points To Consider Of course as a buyer, when buying a home your main focus is always on the price. However, there are other things to consider when negotiating the contract, such as: Cost Of Transaction - You need to...

Real estate is quite a risky matter in all times but we can make few assumptions about it that when we should buy property to get more profit? Therefore everyone wants to know what the right time to buy or sell a property is, it is quite natural. If you are at selling end and the market is going down then I won't recommend you to sell as it won't give you enough profit. If you are at buying end, then purchasing property with sufficient funds in declining market is a smart move. It is because you are spending less and will eventually get more profit at the end. It won't be an equal opportunity idea; a mediocre income person can not take such risk. This is because there is an equal chance of loss as...

Seller carry back trust deeds are mortgages financed by the seller. In today's real estate market, many buyers find it difficult to qualify for a home loan due to poor credit or insufficient down payment funds. Entering into a seller financed contract allows them to buy property while working to improve credit scores. Seller carry back trust deeds are used to secure the transaction just as a mortgage note does through a bank. Sellers can finance all or part of the purchase price. When partial funding is offered, borrowers must obtain remaining funds through a financial institution or hard money lender. When property owners carry financing a real estate contract must be executed, along with property...

What is the conspiracy? It is funny how through propaganda we can be manipulated into doing and thinking things that we know don't make any sense. Here is a major example of what I am talking about. We all know that debt is bad and that it impedes our retirement. We all know that debt causes financial instability. Most marriages end in divorce and finance (which really is debt) is the main reason for this. So why do we all stand in line to buy houses so that we can build borrowing power and security? Let's go back to Finance 101. What is an asset? What is a liability? An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket. Now, let's look...

Flipping real estate is a popular way to get rich. Making money with real estate flipping is very possible. It's not as easy as it looks on TV. The price run-up of the past few years led thousands of people to reach the same conclusion you have. Many new investors interested in house flipping eventually make these simple mistakes. Are you right for real estate flipping? The thing that you need to remember is that investing in any type of real estate is a risk. There is a boatload of competition out there, which means that the obvious deals are gone in a heartbeat. Any fact that you read about investments and any piece of information you learn is completely useless unless you actually use it. Do your...

Everyone needs shelter. People work really hard to ensure that they will be able to afford a house. Houses never come cheap. Even if you are only planning to purchase simple designed homes, you have to save up for it. One of the primary purchases you are going to make is buying a house. You have to think about it and consider all your options before making the decision. Here are some of the things you need to know before you purchase a house: 1. It is essential that you have a good credit. You will most likely acquire a loan to buy a house. Thus, you should make sure that your credit is good for a smooth sailing application. It would be better to check your credit history regularly for your own...

You may have heard of a no-doc loan, but you might not know what it means. No-doc stands for no documentation. It is a loan that does not require documentation to prove income or employment. However, this type of loan does not mean that no documents whatsoever have to be provided. There are some documents that have to be given to the lender in order to get the loan. Most of the times the people who apply for no-doc loans actually qualify based on their credit scores. This is because they made an effort to pay all their debts and financial obligations on time. So, when they apply for a loan to buy a house, they qualify immediately. These people have to go through the usual appraisal and verification...

Did you know that your credit score that you purchase online is not the same credit score your mortgage loan officer gets? You probably know that when you apply for a mortgage, your loan officer gets all three credit reporting agencies reports with three different scores. From your three credit scores, most mortgage companies use your middle credit score to determine your credit worthiness. Do you know that the credit score an auto dealer sees is not the same credit score your loan officer sees? Imagine our surprise to find out that my husband's credit score for purchasing my new car one afternoon was 50 points higher than his top credit score was earlier in the day when he refinanced an investment...