Lew Sichelman
Herald-Tribune
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Past articles by Lew:
LEW SICHELMAN: How to create a video tour
Buyers these days go online to discover what's available. And with the pandemic still very much a concern, they tend to visit the houses they find appealing by taking a virtual tour rather than an in-person look-see.That's because many sellers still aren't comfortable with strangers coming into their homes — masks or not. But a surprising number of agents — about 27%, according to a recent… → Read More
LEW SICHELMAN: Office of the Comptroller of the Currency ‘fix’ weakens redlining law
If it ain't broke, why fix it?That's what some people in the housing business are thinking about a "fix" to the consumer-friendly Consumer → Read More
LEW SICHELMAN: COVID housing update: Forbearance options going forward
At last count, some 4.7 million homeowners were in some kind of forbearance plan. That represents almost 9% of all mortgages. Taken together, just over $1 → Read More
LEW SICHELMAN: Odd lots: Bargain pricing, fraud abounds
An opportunity for first-time buyers to find houses priced below market value is presenting itself in a number of places across the country.Over the 11- → Read More
LEW SICHELMAN: Homeowners also game the system
Much has been written about government abuse during the COVID-19 pandemic. Plenty has been said, too, about how some well-heeled businesses have snatched → Read More
LEW SICHELMAN: When the all-clear is sounded
It may be too early to forecast exactly what lies ahead for the housing market once COVID-19 passes into the history books. But at this point, the sector → Read More
LEW SICHELMAN: Go for funding ASAP
This is the second in a two-part series.Whether you want to buy now, while the pandemic rages on, or wait until the all-clear is finally sounded by → Read More
LEW SICHELMAN: Most lenders have tightened the rules
This is the first in a two-part seriesJust as quickly as the COVID-19 pandemic bolted across the country, that's how fast the financing situation has changed for homebuyers. And whether the mortgage market will return to "normal" once the scourge subsides is anybody's guess.During the first 90 days of the year, the housing market was humming along at breakneck speed. Both existing and new home… → Read More
LEW SICHELMAN: Healthy homes taking center stage
For all the personal and financial damage the coronavirus pandemic has caused, it has also given new impetus to what had been a slow-moving trend toward → Read More
LEW SICHELMAN: Closings go high-tech — and low
Title companies are pulling out all the stops to get deals closed during the COVID-19 pandemic. But they say the best way to close — not just during the outbreak, but moving forward — is electronically.Specifically, title firms are backing what they call remote online notarization — RON, for short.Typically, closing documents are papers that must be signed in front of a notary public. Notaries… → Read More
LEW SICHELMAN: Some buyers, sellers soldier on despite COVID-19 pandemic
New and existing houses aren't selling like they were prior to the pandemic. But people are still selling and buying houses.In January and February, the → Read More
LEW SICHELMAN: Appraisals, inspections on different paths
If you are intent on buying a home during the pandemic, obtaining an appraisal shouldn't stand in your way. But procuring a home inspection may be another → Read More
LEW SICHELMAN: Water, water, everywhere
Water might not be on many homebuyers' radar screens. But it sure is becoming a more important feature, both inside and outside the house.At both the → Read More
LEW SICHELMAN: Hiding banned ‘pocket listings’
The National Association of Realtors has all but put a stop to one controversial practice some agents use to hide their listings from other agents. But → Read More
LEW SICHELMAN: COVID-19: Where to go for housing help
When it comes to homeowners and tenants impacted by the coronavirus pandemic, the response by Congress, federal and state regulators — and even individual lenders and landlords — has been swift. Certainly much faster than the 2008 housing recession, when too many families lost their homes to foreclosure.But there is no free lunch, no matter how badly you've been hurt. If you opt to take… → Read More
LEW SICHELMAN: Military housing is unfit to serve
Infestations of rats, mice and other rodents. Toxic black mold. Lead paint.The deplorable conditions of a lot of low-income housing — in urban areas, on American Indian reservations and in unincorporated communities along the Mexican border, for example — is well known.But these conditions are also found in the housing provided to our military personnel. Basically, they are the equivalent of… → Read More
LEW SICHELMAN: Trump eyes G-fees increase that could cost homebuyers thousands
You've heard of the G-7 — a group of powerful industrialized nations. And you know about G-force, the gravitational pull people feel from sudden acceleration. But do you know anything about G-fees?You should, because if the White House has its way, homebuyers could soon be paying a few thousand more G's for financing.Short for guarantee fees, G-fees are what companies like Fannie Mae and Freddie… → Read More
LEW SICHELMAN: Servicing your loan can be tough
There are at least three things in life you cannot choose: your parents, your neighbors and the company that administers your mortgage.That company collects your house payments, and also pays your homeowner's insurance and property taxes. Known as "servicers," these outfits work on behalf of your lender — or the investor who purchased your loan from your lender — to make sure you make your… → Read More
LEW SICHELMAN: Stopping the demolition derby
Much is written about housing starts, which add to the nation's housing stock. But rarely do we hear about the houses that leave the rolls, never to be → Read More
LEW SICHELMAN: Found a house, but the timing isn’t right? Think sublet
You're out for a Sunday drive with your significant other. You turn the corner, and BAM, there it is: your dream house. Better yet, there's a For Sale → Read More