All Forum Posts by: Walter Shkolnik

I'm a financing consultant and more interested in financing of a transaction than in real estate sales commission.

Some of the information that Califronia MLS offers is exclusive to MLS listings and can be very valuable to real estate investors.

I'm a Licensed California Broker and could help an active Real Estate investor in Southern California market. My interest is in financing.

I'm a mortgage consultant seeking out opportunity to Network with CA RE Offices with 50 + Agens. If you are a Broker, or Agent working for one, contact me. I can help you sell more homes faster by adding value to services that you offer to your clients. You will benefit.

About Me: In business for ten years, office in Orange County, active CA Broker's License, reliable.

I'm glad that this deal worked out for you. Sorry couldn't help.

Do you mind sharing if it was a mortgage company that funded your loan, or a private party.

Did you state your line of busniess, income, and assets on the application?

The truth is that Credit Beau’s credit scoring method is their closely guarded trade secret, and they update it all the time to adjust for different factors. Otherwise it would be too easy to manipulate. Therefore, it is impossible to tell exactly how different actions will affect your score, unless you have somebody on the inside of the credit bureau who can deliver the up to date algorithms.

I'm not sure. It probably depends for how long you are maxed out. I'm pretty confident that once you pay off those cards, it would improve your credit. So, if you sell the house, make your pofit and pay off the credit cards, your credit will improve quite a bit.

For those of you that deal with property values of $100,000 or less and have good credit, this can be a really good deal.

Recently, I spoke to an investor out of Texas that financed 100% flip with 0% APR credit cards. The purchase was a little less then a $100,000, but he says that he has enough credit limit on his credit cards to finance $150,000. I guess he applied for a bunch of them at one time, and some have credit limits of $20,000. The guy is in the medical field and has really good credit.

I'm not sure how he got 0% APR on cash advances, but I added a website so that if people are interested they can apply:
[Site Removed]

What do you think? Would you do it?

COSI - Cost of Savings Index is a good stable index used exclusively by World Savings, and I guess now that World Savings merged with Wacovia, it will be used by Wacovia as well.

One thing to watch out for is Negative Amortization. Make sure you understand that if you get a loan with option to make low minimum payment like 1% or 2%, your mortage balance will grow. Just keep that in mind.

Where is the property?

If you disclose to the lender that you are not planning on collecting on the second, your loan will not be approved. But lenders do allow "seller consessions", which is not a note at all. Some lenders allow up to 6% seller consessions for closing costs - meaning you pay buyers closing costs up to 6% of the sales price.