All Forum Posts by: Joe Derobertis

:( sad face!  No BP on my new iPhone 6!  sniff sniff

@Peter Mckernan 

Would love your advice on neighborhoods. I'm not terribly familiar with the inland empire. 

Thanks!!

Bergen county in the house! I'm from Hasbrouck Heights although I live in SoCal now, also a newbie. Good luck to you. This is a great community!

He's fine to stay on the loan. This has come up because I want to apply for a HELOC and he doesn't want to have to provide all his income and tax info. It's my understanding anyone on title needs to submit info when applying. If he is off title than it's just my info when applying. Or is that inaccurate? Of course partially I want to keep him on so it's easier to qualify but he's been wanting to quit claim for a while now.

Hey all,

When my wife and I bought our house 4 years ago we had my father in law consign to make sure we would qualify. He's also on the title I believe. Now he wants to quit claim it to us so he's not on the title anymore. 

My question is what is the best way to do this so our mortgage company doesn't call the loan due. Should I call them and explain and get some kind of written approval from them?

Any advice?

@Luana C. Welcome!  I'm a newbie also and in the San Gabriel Valley.  Would be great to connect.

Joe

Hi all,

  I'm still deciding where to begin my investing and I'm back on the idea of investing closer to home which means in the Los Angeles area and I need to find a portfolio lender.  

Anyone have any recommendations?

Old thread here, but also from altadena so thought if say hello and see if there is any interest in meeting up. I'm new to investing and looking to meet and learn from others in the area. I keep waffling on a strategy while I'm working on putting my finances in order, but have been trying to soak up as much info as I can. Joe

Hey everyone,

  I'm a new Real Estate investory, haven't purchased anything, but am lining up financing.  Because of some previous issues I am in a situation where I only qualify for a portfolio loan which will come at a 6% interest, fixed for 5 years and then adjusting every year thereafter.  It will have 2 points and no prepayment penalty.

My first though was okay well in the next few years I'll be able to refi out of this and into a conventional mortgage and life will be good.  However, life may not be good if within the next 3-5 years interest rate soar up above 6%.

So that got me to thinking on whether or not there is any reliable data out there on forecasting future interest rates.  Any ideas?  If done some google searching and haven't found anything that jumps out at me.

Thanks!

@Elisabeth C. Appreciate the info.  I haven't looked into those areas and will have to take a closer look.  Investing here in CA is tough and it's nice to know there are some people making it work.  Gives me hope!

On a slightly unrelated note, I am having a hell of a time finding some financing.  I have a strategic foreclosure on record from about 3 years ago and I'm having a hard time finding a portfolio lender...  Any recommendations would be greatly appreciated!