All Forum Posts by: Francisco Trejo

Hello BP community, can anyone recommend a management company in K.C.  MO.

Thanks

Where in Ca.?

Wow, thats tough , i agree with the crowd here start eviction process. If its your first time i recommend getting an eviction service.. Notices to tenants are time sensitive and if you make a mistake your 30 day time line starts over. I would also offer them cash for keys, again dont give them anything till place is empty.  Another option is to look for near by hotels , motels pay for their stay a couple of weeks or a month, get a moving truck maybe hire movers to help them get out. Or a conbination of the above may work. This all sounds crazy but when you inherit tenants that you want out, it is better than an eviction.. I went through an eviction here in LA California in 2017 and it took about 6 months. Best of luck to you reach out if i can help with anything.

Hello BP community, today i was notified by my loan broker that the rate on my loan just went up 5.75 on a cash out refi for a triplex here in L.A.  This is a no doc loan based on income from property.

I started this process with this broker back in middle of February. I locked rate with them for 60 days and loan officer assured that it wouldnt take that long to close.

Through this process i have been in constant contact with loan officer, i have been pressing him to close and everything has take what seems super long. Last month he told me we were scheduled to close April 15.  I started asking the week of the 15th about closing and he told me that the lender pushed it back to the 22nd.

He calls me today and tells me that the rate lock of 4.25 expired yesterday and that lender did not want to renew due to rates being higher. I guess my question is, is it legal for them to push loan to a later closing date , purposely to allow the lock to expire so that they dont have to honor that?

Just got me a little puzzled, now looking to change stratergy and not go through with refi.

Any input?

Thanks

Thanks for info. I will be there as well.

Great post, very informative. I will definately check on Penfed. Thanks Ryan Shannon

Do you know if any of thes lenders forgo DTI? Some lenders i have contacted are doing loans based on the income of property. Their rates are a little higher but if your DTI is an issue then thats worth it.

Thank you

Hi Eric, sorry to hear about this.

I went through an eviction a few years ago and this is who i used Eviction Group, A Professional Law Corporation 714 West Olympic Boulevard, Suite 753
Los Angeles, California 90015
Toll Free 800-985-9885
Office 213-536-5211

hope this helps.

Welcome Chris...

will you be ready for LAM in march..