Earl L. Huse, JD
Giving up ´serious´ golf, Earl Huse began his real estate career in the mid 1970's after completing various creative financing seminars and accounting courses in Northern California. While investigating creative financing investment options to meet his personal goals during the late 1960's and early 1970's, he recognized a need for educational presentations dealing with optional methods of real estate financing. Huse moved to Southern California in the early 1970's, and began attending FHA, VA, FHMA, and FHLMC processing and underwriting seminars offered by various agencies. His goal was to have a complete understanding of the real estate loan application and process, from loan generation to loan funding. This knowledge was later used to introduce the general public to the complexity/simplicity of the loan process.
Huse joined a major real estate firm in the mid 1970's, while attending law school. His main function with the real estate firm was to develop continuing education courses that would be approved and accredited in California for licensed real estate agents. He graduated up 1979 with a Juris Doctor in law.
Earl was ultimately successful in obtaining over 120 hours in Department of Real Estate continuing education seminar credits consisting of 5 courses including, Equity Share (the only Equity Share contract approved), Real Estate Law, and Mathematics of Finance.
Because of real estate acquisition opportunities due to increasing interest rates, Huse began a quest to acquire SFR's at drastically reduced prices, with favorable financing options that would benefit both the seller and himself. With the properties in hand, he devised creative financing concepts that were unique in the real estate industry. So unique, as a matter of fact, they were once called the "Earl the Pearl, the Gem of the Sea" financing concepts.
Because of his expertise, Earl was a regular guest speaker on a local radio station that offered creative financing solutions to people calling in with questions. This soon led to a local TV show following the same format.
As a result of the high demand for his services, he developed financial seminars designed to educate the consumer.
Increasing interest rates and foreclosures through out the U.S. in the early 1980's led to the development of creative financing seminars that would do several things for the consumer, including:
1. Teach true ´no money down´ purchase concepts.
2. Teach prospective investors how to properly qualify for loans.
3. Teach people how to understand various real estate loans, and what they are, and,
4. Understanding contracts, how to use them and why (with legal advise), and other concerns.
By popular demand Huse began a seminar trail throughout California, Oregon, Washington, Texas, and Okalahoma. He now has over 1,000 seminars to his credit.
Lending money, buying homes, and seminars soon became a way of life as well as his business, so Earl acquired his own mortgage company. The success of the company afforded him the opportunity to create a real estate marketing club, in Southern California, which offered a consortium of programs to members. Foreclosed properties were the main focus (how to buy, sell, exchange, finance, etc.) along with continuing education on creative financing options, marketing and of course, financing options with the mortgage company. The club, open to the general public, allowed agents and consumers to market their own properties and, with the assistance of Huse, structure creative financing options based on the clients individual needs.
In the late 1980's, Huse liquidated his interest in the mortgage company and marketing club, and retired from the seminar trail to begin other ventures in the mortgage-banking world.
Huse retired in 2000 to write and publish a series of books which include Learn the Secrets of Real Estate Loans; America, I Want Some Real Estate and How to Buy it; Now and Forever, Zero Mortgage Payments, and Pretty Place, U.S.A.- For Sale By Owner, which are available through his website at
www.howtohavezeromortgagepayments.net.
Contact Information
Articles by Earl L. Huse, JD
October 18, 2009
With property values low as they are throughput the United States due to the foreclosure crises, some areas are lower then others, investors are on a buying frenzy snapping up good properties at excellent values, many investors have but one goal (short term profits have turned into long term profit ...
August 26, 2009
Over the past several months many of my friends have asked me what is a Deed in lieu of foreclosure, is it a way to prevent foreclosure, and what are the ramifications involved. First and foremost, let me emphasize one thing, and that is whenever you are seeking to put a stay to foreclosure through ...
June 25, 2009
Wouldn´t it be nice if all you had to do in order to satisfy your declining property value or your delinquency on your mortgage were to put it up for a "HOUSE SWAP" instead of for sale? No equity sharing, no real estate exchanging, no seller carry back in the form of a second trust deed, no sh...
May 02, 2009
Interest rates are being advertised throughout the United States at record variations from a 3.95% to 5.85% 30 years fixed with variances in-between. Mortgages are now available in 20, 30, and 50 years which add additional interest rate factors and does not include the adjustable rate mortgages that...
March 10, 2009
There are no easy remedies in liquidating real estate in today´s complex market, however, some real estate agent, and investors want you to predispose of your home without you fully understanding what you may be getting yourself into. They rely on the" ignorance of the public" in an attempt to take ...
February 26, 2009
If you are Homeowners in the foreclosure crisis, there may be a legal loophole to help you.
If you are in the foreclosure process, a legal loophole called "Produce the Note" (helps slow down the foreclosures process) may allow you to stay in your home longer. You can confront your lender (or comp...
February 21, 2009
An appraisal of real estate is the valuation of the rights of ownership. The appraiser must define the rights he intends to appraise.
The appraiser does not create value; the appraiser interprets the market to arrive at a value estimate. As the appraiser compiles data pertinent to a report, cons...
December 29, 2008
Investments, no matter what they are, have some tax consequences. Equity participation (sometimes referred to as Equity Share) is no exception, and they must be evaluated for their benefits. It is, again, recommended that you consult a tax authority or attorney before you invest into equity particip...
November 19, 2008
(Today, options to purchase, lease options and lease purchase agreements are three different financing documents. The variances are state specific and not all states have identical laws. Before entering into an agreement with a seller, buyers should obtain the advice of a real estate lawyer. The inf...
October 19, 2008
There are many articles posted about optional financial instruments for creative finance, no money down transactions, and other considerations. You, as a potential buyer/seller, must be aware of the legality of a real estate transaction and how it affects the sale or acquisition of real property. Be...
October 05, 2008
Commonly abbreviated APR. The actual cost of borrowing money, expressed in form of annual rate to make it easy for one to compare cost of borrowing money among several lenders or sellers on credit. . For example: 6% add-on interest would be much more than 6% simple interest, even though both would s...
September 26, 2008
No-cost mortgages don´t eliminate costs, they convert them from costs paid upfront to costs paid over time. Other things the same, no-cost mortgages carry higher interest rates, which may be better for some borrowers, but not for others. At the same time, no-cost mortgages are easier to shop b...
September 03, 2008
Some mortgages have what is commonly called a "Due-on-Sale" clause attached within the note. The purpose of this article is to familiarize the reader with the due-on-sale clause and how it related to real estate assumptions. A potential buyer, once certain financial instruments have been put in plac...
August 05, 2008
So you can have a basic understanding of underwriting, I will describe some of the underwriting guidelines lenders use in determining approval of a real estate loan.
This will also assist you in understanding what type of supporting documentation may be required for a particular loan program that...
August 03, 2008
Have you ever wondered what happens to your loan application once a loan officer has gathered your credit information and completed the form? What does an underwriter look at after the loan processor has compiled the information and submitted the loan package to the lender?
The items below are n...
July 04, 2008
One of the seemingly difficult task of obtaining a real estate loan is determining if the borrower is qualified for a specific type of loan or not and understanding what debt ratio´s are in relationship to income and debts.
Debt ratio´s are an expression that represents a lenders gui...
June 28, 2008
Adjustable Rate Mortgages (ARM) offered by lenders have periodic rate changes, usually in relationship to an index, and payments may increase or decrease accordingly.
Most adjustable rate mortgages offer low introductory rates or "start" rates (can be as low as 5% below the current market rate of...
May 12, 2008
There are many conceivable concepts involving creative financing. Creative finance, simply stated, is another way of manipulating mathematical numbers to best suit those needs at the present time in order to accomplish a specific conclusion or goal that has been presented to a person or persons in w...
April 26, 2008
Not locking in your loan rate (interest rate and discount points) can make the difference of thousands of dollars over the life of your loan if you don´t watch what you are doing, and if you don´t lock at the right time.
Some lender will not lock a loan unless the loan is approved and about read...
April 23, 2008
Today´s economic problems with massive foreclosures could be a sellers and buyers dream by knowing the possibilities of various creative finance options, one of them being real estate exchanging.
Simply stated, an exchange of real estate is an exchange or trade of real estate it is the mu...
April 11, 2008
There are many conceivable concepts involving creative financing. Creative finance, simply stated, is another way of manipulating mathematical numbers to best suit those needs at the present time in order to accomplish a specific conclusion or goal that has been presented to a person or persons in w...
April 07, 2008
How much does it cost to sell your home using a real estate agent? Real estate agents charge 6, 7 or even 8% of the sales price of your home for their commissions. This translates into how much money you have just given to someone else to do your work for you. In other words, how may thousands of do...
March 31, 2008
As you are well aware, Real Estate affects us all – profoundly and now, thousands are losing their homes due to foreclosures because of creative interest rates afforded to buyers without the full explanation of all alternatives available to them by many lenders, and yes, there is help for them. At s...
March 29, 2008
It has been said by many philosophers, authorities, and individuals well versed in investment matters, that everything we have in this world comes from the earth. Just think about it for a moment and you will agree.
Being the Best of the Best in the Mortgage industry is not easy, it requires many...