All Forum Posts by: George C.

@Scott M. Hi Scott thank you for sharing your thoughts and experience, I returned their rent for the month including initial deposit as the lease is essentially terminated at this time, I believe they are staying with family at the moment and I have talked to them about the avenues you suggested, I am definitely considering mandatory renter's insurance in future as a way for renters to protect themselves

@John Mocker I just filed claim with my insurance today and still waiting to hear from HOA about outcome of assessments, it may be a rebuild, will have to see, thank you for your input!

My rental condo building burned down and my tenant doesn't have renter's insurance, my loss will likely be covered by my insurance and the building's policy, is there anything I can do to help the tenant as they have lost everything? Never experienced anything like this and not sure what my responsibilities are? Any ideas and suggestions would be helpful thank you!

My rental condo building burned down and my tenant doesn't have renter's insurance, my loss will likely be covered by my insurance and the building's policy, is there anything I can do to help the tenant as they have lost everything? Never experienced anything like this and not sure what my responsibilities are? Any ideas and suggestions would be helpful thank you!

@Curt Smiththat's really helpful! thank you I will look into your suggestions thanks again!

@Curt Smith is that considered a portfolio loan? not sure if I would qualify for that, thank you for the info I'll check it out

@Matthew Drouin yeah you would think it'd go smoother if you have prior history with them but guess not, glad it worked out better for you in the end, hopefully I'll have similar ending lol thank you for sharing!

@Joseph Hummel agreed, got that sense too but it was tough to gauge since there was limited communication, the appraisal was done couple months ago, hopefully they won't want another one, my original application actually expired and they gave me a better rate, if I need a new rate it's gonna be higher hoping that won't be the case! I definitely plan to explore other options soon, thank you for commenting!

@Raymond J. RodriguesValley National, and I have an existing loan with them thought that would've helped but guess not! it's supposed to be refundable at closing but unclear if that's going to happen, I thought they would just let me know they don't want to do the loan instead of keeping me in the dark, I will send an email and figure out next steps, thank you for your input!

@Dustin Lauer thank you for your feedback, interesting to hear from a lender side, appraisal was actually done couple months ago and all requested docs were submitted, so it's unclear what's delaying other than them not wanting to do the loan, great point about using tech to improve the process, hopefully that's where we are headed

@John Morgan how long did you wait previously? ok great I'll PM you thank you!

@Raymond J. Rodrigues @Darren Sager I have a W2 as well as K1, this is in NJ, is it customary for a lender to keep me in limbo instead of rejecting the loan? Do I have to withdraw my application or do I just forego any further interaction? I also paid $500 for lock-in rate agreement would I be able to get that refunded?

I have been in process of doing cash out refi with a national bank lender and the process has been dragged on for 6+ months, the lender reps are unresponsive except when they ask for additional docs and would not give me ETA for closing, although I was supposedly in closing for the past 2-3months. Does this mean they don't want to do the loan? What recourses do I have? Can I just go to another lender or do I have to notify current lender to withdraw my application? All suggestions and assistance are welcomed! Thank you!

that's amazing! did you find more deals in WNY or Hudson County?