What I have found working in the banking industry is inquiries and new accounts less than 12 months old ding your credit more at the beginning but are quicker to get seasoned because inquiries have the most impact within 12 months and disappear after 24 months.

The proposed bill would replace Fannie Mae and Freddie Mac with a new government entity that would act as a new federal regulator for the mortgage industry and would administer a fund to cover losses on mortgage backed securities.

Hello,I am looking for an opportunity to learn the ropes within the Real Estate industry.

You May have been to a Guru seminar if..........You believe brokers will continually submit deals to you although you have no capitalYou believe lenders look at the property ONLY when considering whether to lend you money, so that your multiple bankruptcies, credit score of 490, and $80,000 in credit card debt won't matterYou think that commercial real estate sellers will accept post dated checks for $100 as sufficent earnest money.You believe no seller is sharp enough to see through the numerous “weasel” clauses you put into your purchase contractsYou are persuaded that the only difference between a $1000 transaction and a $1,000,000 transaction are the amount of 0'sYou believe everyone who critsizes your plan is jealeous and wants to see you failYou believe that 20 years of hands on experience, a four year college degree in real estate and yearly mandatory education seminars can be trumped by the “intense training” 3 day seminar you just paid $7000 for.You believe that the $7000 you just borrowed on your newly increased credit line to pay for that seminar is an “investment”You can't believe people actually wasted $80,000 and four years of their life learning “useless” information in collegeYou believe assembling your real estate “team” is your key to success and a necessary first stepYou believe you can actually contract with the best “players” in the industry although you have no experience, capital, or track recordYou believe that once you find the deal that fits the formula money will come to youYou believe that your Guru has provided you with exclusive information on how to find “bargain” dealsYou believe one in a life time “steals” are an everyday occuranceYou believe you can be successful working “the system” on just weekends and holidaysYou believe the Guru got rich by actually doing real estate deals rather than by using a slick promotional sales and training systemYou believe the personnel provided to assist you are actually real estate investors who actually have experience and knowledge and aren't just some failed salesman reading from a scriptYou believe you're the first person to think of using BiggerPockets as your source of wholesale leads or to build a buyer listYou believe wholesaling is investingYou think the term is “whole selling” not wholesaling.

It is under this idea frankly that it is easier for industry folks who know what they are talking about to simply tell other folks to just stay away from the idea opposed to trying to get into all the nuances.

If simple industry related terms are stumping you, I'd highly suggest you start with a principal of real estate course.

Since you have knowledge in the industry you should do pretty well.Heck, I'm going for my Builders License so maybe we can exchange knowledge sometime.

Although i am quickly learning there are other, possibly more lucrative ways to participate in this industry.

You'll find hard money lenders, investors, contractors, agents, lawyers, realtors, anyone involved in the RE industry really.

I recently put my 2nd home under contract and am set to close on 6/23, so I am jumping in with both fee.I work a full time job in Electronic Payments industry and have a wife and 3 great kids.