All Forum Posts by: Tom C

No fraud here... If I don't have a mortgage on a property, and I live with family, there's no reason I couldn't have a mortgage as my primary residance.

Does anyone have a solid rental/lease agreement for the state of Florida?

Its been a few years since I rented, and I need something to start me off again.

Thank you in advance.

Have a client that lives in NY, and is looking to buy a property in Florida.

The client doesn't have a mortgage on their credit report, but since this is out of state, will they need to apply for a second home mortgage?

Or can they apply for primary residance? Maybe they live in Florida six months, and six months in NY...?

Who knows of a creative lender that can make this happen with as little down as possible?

I was in the mortgage business for a long time, and I remember if someone didn't have a mortgage on their credit report, they could in theory do a investment property as if it was O/O.

Has that changed? Are there any road blocks that could stop this? What proof would a lender want to see if they didn't believe it was for your primary residance, Etc....

What does everyone feel is the biggest challenge in real estate right now?

Sorry to be more specific, I meant Approval time from the bank.

And are the banks basically going with the highest bidder, or the total package of the buyer having finance already, etc..?

It seems that way, I feel like I have to relearn everything all over again.

What type of response times is everyone getting when placing an offer on a short sale?

I use to be in the real estate game, and I sold off all my properties a few years back.

Now I'm trying to get back in, and boy it seems the other investors are out in full force these days.

It also seems as if properties are going to contract within a week of being listed on the MLS.

Is it happening like this everywhere??