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June Sales License Class Only $299
It is a great time to get your Massachusetts Real Estate Salesperson License, so call us today and schedule to attend one of our 40-hour Massachusetts Salesperson Pre-License Classes! You can finish the class in only 4 days over 2 weekends. The cost for the Massachusetts Real Estate Salesperson Class in June is only $299. If you find another class, offered in the same month, for less money, we will match the price. It is a great time to get your Massachusetts Salesperson Real Estate License so call today to reserve a seat.
Our next Salesperson Pre-License class will be a Sat/Sun class in Peabody, at the Holiday Inn, on June 2nd, 3rd, 9th & 10th. Additional classes will be offered in Peabody on July 14th, 15th, 21st & 22nd and again on August 11th, 12, 18th & 19th. The classes run from 8am to 7pm with breaks throughout the day and a break for lunch. Registration is at 7:45am. Ask about my "Bring a Friend Discount" and you will have someone to study with. It's a great time to get your Real Estate License so be sure to call early and reserve your seat!
Bill Morgan Real Estate Academy is committed to providing enjoyable, high quality, Mass Real Estate Salesperson License and Continuing Education Classes at competitive prices. My classes are always informative, entertaining and loaded with current information. If you want your next Mass Real Estate Class to be interesting, educational and fun, then my school is the right place!
To view the schedules, just click on the link below.
Online Classes Salesperson Pre-License Classes
Continuing Education Classes
I hope to see you in class soon and "Let's have some fun!"
Thank you very much! Bill Morgan CBR "The Hat Guy"
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New Hot News For Mass Real Estate Agents
30 Year Fixed Rate 3.88 % - 15 Year Fixed Rate 3.11%
April 15, 2012
Mortgage rates are clinging near and breaking record lows, with the 30-year fixed-rate mortgage averaging 3.88% for the week ending April 14th and 15-year fixed rate mortgages at an all time low of 3.11%. Most of the large banks have passed their stress test and home sales are up across the country. There is still a huge backlog of foreclosures that need to work their way through the market, but 2012 is looking to be a banner year for sales.
30-Yr. Fixed Rates down again!
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Fannie Mae Loan Limits Go Back Up
November 14, 2011
WASHINGTON - Congress has approved a bill to raise the maximum size of mortgages the FHA can insure and sent it to the President to sign into law. The measure would push the so-called conforming loan limit in the highest-priced real estate markets back up to $729,750 through 2013, from $625,500, a sign of lawmaker concern over the still-depressed state of the housing sector. After the 2008 banking crisis of 2008, the limits, which vary from market to market, were temporarily raised when banks became reluctant to lend. They automatically dropped back on Oct. 1.
Congress Raises Loan Limits
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Foreclosure Titles Are No Good ?
October 18, 2011
By now, you should be aware, that if you bought a property from a Lender who did a faulty foreclousure, your title may be "Cloudy" or Noisey". One would think, that an action in Land Court, could quiet or fix your title. Not so fast! The Massachusetts Supreme Judicial Court ruled today in the much anticipated Bevilacqua v. Rodriguez case, that you have NO title to the property at all. Not "Cloudy" or "Noisey" title that the Land Court could repair, but in fact, it appears, NO TITLE AT ALL. You may still have the right to go back and redo the faulty foreclosure. This final edict is mix of bad and good news for owners of property whose titles have been rendered defective due to improper foreclosures stemming from the landmark U.S. Bank v. Ibanez ruling last January. The Court held that owners cannot bring a court action to clear their titles under the “try title” procedure in the Massachusetts Land Court. Left open, however, was whether owners could attempt to put their chains of title back together (like Humpty-Dumpty) and conduct new foreclosure sales to clear their titles. Unfortunately, the SJC did not provide the real estate community with any further guidance as to how best to resolve these complicated title defects.
Bevilacqua v. Rodriguez Case
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Fannie Mae Drops Conforming Loan Limit
October 1, 2011
For the first time in three years, the upper limits on single family home mortgages in high-cost areas qualifying for Fannie Mae and Freddie Mac's government guarantee has declined.The loan limits, enacted on temporary basis in July 2007, dropped from $729,750 to $625,500. The reduction in conforming loan limits reduces the size of loans that can qualify for Federal Housing Administration (FHA) guaranteed financing. The limits have expired despite a concerted effort by housing trade associations to extend it. The National Association of Home Builders has said it fears more than 17 million homes nationwide will become ineligible for more affordable federal funding when the loan limit expires. The National Association of Realtors said 5 to 10 percent of consumers will face higher mortgage rates as a result of the change. To read the full article, just click on the link below
Loan Limits Drop to $625,500
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New FTC Ruling Affects Real Estate Agents
August 19, 2011
The FTC has passed a new ruling requiring Real Estate Agents, who provide certain information about mortages to prospective buyers, to provide a written disclosure statement to customers and retain all records for 2 years. Just providing generic information about mortgages, or pre-qualifing a buyer will most likely not require any disclosure, however if you provide the consumer with specific information about a particular financing program ( ABC Bank has a 30 year fixed rate loan at X % with 2 points), take an application for financing or only provide a lender's Daily Rate Sheet, a disclosure will be required. As always, this should be discussed with your manager and maybe at your office meeting too.
Copy of the new FTC Ruling
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Massachusetts Real Estate Classes - New License Law
June 1, 2011
A new Massachusetts law, effective June 1, 2011, now requires anyone wishing to take the Mass Real Estate Classes to get their Salesperson License, to attend 40 hours of classroom instruction before they will be allowed to take the Mass Real Estate License Exam. The requirement to get the Broker License will also increase from a 30-hour class to a 40-hour class and you will be required to have three years, full time, experience as a Massachusetts Salesperson before you can take the exam for the Massachusetts Broker License. Below is the link to the new law.
Mass Real Estate Classes New Law
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March 18, 2011
Massachusetts Real Estate Classes - New Homestead Law
Automatic $125,000 Homestead Protection
Massachusetts Declaration of Homestead provides a simple and inexpensive way to proctect the equity in a principal home from up to $500,000 in certain creditor’s claims. Now the Legislature has passed the long awaited revisions to the Massachusetts Homestead Act (Senate Bill 2406), giving homeowners expanded protection. The bill was signed on Dec.17, 2010 and became law on March 18, 2011.
Here’s a summary of highlights of the amended bill:
All Massachusetts homeowners will receive an automatic homestead exemption of $125,000 for protection against certain creditor claims on their principal residence without having to do anything.
All Mass. residents are eligible for a $500,000 "declared homestead exemption" by filing a declaration of homestead at the registry of deeds. For married couples, both spouses will now have to sign the form–which is a change from prior practice.
Homesteads are now available on 2-4 family homes, and for homes in trust.
The existing "elderly and disabled" homestead will remain available at $500,000.
If you have a homestead as a single person, and get married, the homestead automatically protects your new spouse! Homesteads now pass on to the surviving spouse and children who live in the home.
You do not have to re-file a homestead after a refinance. There’s always been confusion here, with lenders requiring homeowners to either subordinate or release homesteads. Under the new law, homesteads are automatically subordinate to mortgages, and lenders are specifically prohibited from having borrowers waive or release a homestead.
Closing attorneys in mortgage transactions must now provide borrowers with a notice of availability of a homestead.
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Mass Real Estate Classes Continuing Education Update
January 14, 2011
On January 14th, 2011, Representative Theodore C. Speliotis, submitted a Bill to the Legislature, House Bill 123, to increase the Continuing Education requirement for Real Estate Brokers and Salespersons from 12 hours to 20 hours. The Bill is currently working it's way through the Legislature and has NOT PASSED YET. When it passes, all Real Estate Brokers and Salespersons who wish to keep their Real Estate License on active status will be required to complete 20 hours of Continuing Education. Also, please remember that the Bill Morgan Real Estate Academy offers Online and Live Continuing Education Classes and Salesperson Pre-License Classes, every week, throughout Eastern Massachusetts. Here is a link to Mass House Bill 123.
Continuing Education 20 Hours
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Mass Real Estate Classes - Supreme Court Upholds Ibanez Ruling
January 7, 2011
The Massachusetts Supreme Judicial Court on Friday ruled in favor of Mr. Ibanez, who had his home foreclosed upon by U.S. Bank in 2007. Mr. Ibanez's Mortgage had been resold 5 different times and eventually end up in a pool of mortgages where U.S. Bank was the trustee. Because the mortgage was not assigned directly to U.S. Bank, the court ruled that U.S. Bank had no right to do a foreclosure, because they were not the" Mortgage Holder of Record." Mr. Ibanez gets his home back! This ruling may have serious impact on many if not all of the foreclosures that have been done in Massachusetts over the last however many years. Will Title Insurance companies write Title Insurance, for someone buying a foreclosure, if the foreclosing entity was not the "Mortgage Holder of Record" at the time the foreclosure was done? This decision will have impact across the country and it will be interesting to see how it plays out over the next few months. Here is a link to one of the articles.
SJC Ibanez Ruling
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Bill Morgan Real Estate Academy
32 Orne St. Salem, MA 01970 - Tel. (978) 744-9717
Licensed by the Commonwealth of Massachusetts #1224
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