All Forum Posts by: Nina Ibrahimbegovic

@Nat Tata I would ask your mortgage broker. From what I know, they will Flag this and won’t approve your mortgage if you’re not a strong buyer . I’d hear mortgage brokers always say to hold off on doing anything out of the ordinary, like large purchases, during a loan application. I would think a HELOC would be a pretty big deal.

@Chris Mason haha I wish they were!! I asked to speak to the lenders supervisor or operating manager but they said I can’t talk to them. I found that strange too. I just found out about this 3 days prior to the close date. Isn’t this something that would have been known wayyyy before ?? Like when we first applied for the loan. I feel like I’m being conned.

@Mike M. I asked the broker to provide me the contract for the mortgage that we would be signing at closing and he said it doesn’t get generated untilclsoing documents. He did provide a message with an insert that says if interest is transferred or sold without lenders prior consent that they would give us 15 days to pay the loan in full. Obviously lender won’t consent so... the loan would be due in full as soon as we put me on the title.

This is the message from Wells Fargo:

"Purchase contract shows that buyer Nina Ibrahimbegovic (non-borrowing spouse) is the buyer’s agent and is employed by the listing agent company Charles Rutenberg Realty. This transaction is considered an increased risk transaction. When a party related to the transaction has more than one role in the transaction or is employed by or has an ownership interest in a company that is involved in the transaction (including but not limited to third parties such as marketing companies, builder / developer, broker, or realtor), there is a non-arm's length or at-interest risk. Based on requirements for increased risk second home or investment properties that are multi-unit properties (2-4 units) are not allowed. 

@Wayne Brooks not owner occupied. It’s the first time I’ve heard it and I’ve been in real estate for over 4 years. I don’t understand how other married couples who invest in real estate and one of them is an agent, can buy investment properties in both names.

@Chris Mason The Bank is saying it would trigger the due on sale clause if I did that.

We are three days away from closing (obviously won’t be closing on time) and I just got word that I, as the buyers agent and one of the buyers can’t be on the title if we wanted to get the loan through Wells Fargo. My husband and I were suppose to take title together and the mortgage would have been under my husband. I, as the agent and one of the buyers and the wIfe, would have been on the title. Wells Fargo is saying because it’s a duplex that it’s too much risk if I am vested on the title. Has anyone been through this before ?

Chris Voss is the man !! He is killing it with negotiations . Loved episode 260 !!! What an inspiration :) Who else is similar that you’ve come across ? Anyone else that is great with negotiating like this ? Any books you can recommend to read ?

I know in Florida they’re not wiped out by the foreclosure. I know people who have gotten a 12k bill for the HOA fees unpaid by previous owner

Hi Greg, thanks for your reply. How are credit unions different from lenders ? I didn’t even know there was a difference.

How do you buy HUD homes at a discount ?