All Forum Posts by: Lynn Z

BOA lender told me in an email that if you are purchasing a residence it didn't matter how many (investment) mortgages you had. That was before Fannie Mae lifted the restriction on allowing only 4 mortgages.

I checked because two mortgage brokers had told me they were restricted to 4 mortgages regardless.

South in SC the mayor commissioned a task force lead by a minister (heavy emphasis on community councils) to fine landlords for leaving tenants garbage curbies out, any police action due to noisy tenants, require a local agent to stand in for the landlord (including allowing entry for codes inspectors, fixing problems noted etc)

They want all landlords to register. That will only lead to annual inspections to give the little codes regulators something to do.

They claim they just want to be able to chase down absentee landlords but we all know what's coming.

You can't double rent in my state

Have any of you turned a rental into a residence before January 2009 to be able to not deduct rental or unqualified use time when you sell? Just wondered.

I'm told HELOC and first count as one mortgaged property.

If you're purchasing a residence, lender told me you can have unlimited numbers of mortgages.

Better watch out. I'm in Columbia, S.C. south of you. Could creep up. They used Clemson, Rock HIll and Newberry as examples of other towns they were studying for this type problem.-- Absentee landlords. Apparently, neighborhood group meetings that the good officials attend, fuss about absentee landlords. So all good landlords have to suffer by association.

They're talking tenant registration, landlord or agent required registration, evictions, bulldozing etc. If you rent one room in your house, you still have to register.

The mayor appointed a task force with a minister cast as chairman. Want to bet how many investors were on that task force? An eighty page report was put on the city's website...and that's what they consider "notification" to all parties.

Our city council is trying to register all landlords and have out of state landlords appoint a local agent who will take service from them for codes violations, grant access, fix any problems etc.

The excuse they use for the proposed ordinance is they can't find the real owner, especially if they're out of state. Funny, how the tax people find everyone they need to find.

Landlords objected to the idea of signing away their right to object to entry by the government and the word "annual inspection" rolled off of the codes administrator as he was explaining "probable cause" "warrants" etc.

I read where some places have annual inspections of rentals to see if they are in compliance with codes. This guy says he could find 50% of all rentals out of compliance.

This is scary. Do any of you have annual inspections of rentals? Registration of landlords? Registration of tenants?
I'd love to hear more.

I love Diane Feinstein talking about how smart and useful Daschle is and despite this "error" she is not ruling out confirmation.

What is it with these people? Maybe we ought to examine their take on what they're doing with their own taxes.

Daschle was an early supporter of Obama when he was a junior senator. He (Obama) owes him. Washington politics.

Landlords just attended a city council meeting over a proposed ordinance requiring everyone who even rents a room in their home to register yearly and sign that you have access to applicable code and will allow entry into the property. They want anyone in an LLC or absentee to name an agent who will accept service, allow entry and will pay for and fix required violations.

Many landlords who have properties in other places said they are having a terrible time getting insurance and we haven't been able to state truthfully that a building is 75 years old for a long time.

These are issues that trump cash flow in my opinion. There's not enough money in world to counteract an overzealous community/government and no insurance.

You just can't win.

what is everyone speculating today about the economy is no better than the ones who got us where we are today? Maybe there are no good answers ....that we just have to wait and see what happens?

Perhaps this economy is totally new ground--that's just beginning to shift? Aren't things moving too fast to compare it to past recessions? So much at once?