All Forum Posts by: Sherrie Pickens

55+ Community. Manufactured in 2006, the home features a kitchen island, large master suite with walk-in closet, full master bath, fireplace, 3 window lights in living room ceiling, and a carport with driveway. You will love this great floor plan that is open, cheery, and priced just right. Needs a pantry door. Outside shed for extra storage.  Come and see. Walkable to DMV and public library. Space rental fee is $758.  A/C, sprinkler system, all appliances included.  Park application required.  

https://www.redfin.com/CA/Oxnard/420-Avalon-Pl-93033/unit-69/home/4708855

Listing #216013617

Supra

Sign in the yard

Location: 6714 7th Avenue, Los Angeles, 90043

Property Details: Single Family Residence

Gated property
This is off market until November 2016 please email me or PM me or more details!

See it on Trulia:
https://www.trulia.com/foreclosure/3235059392-6714-7th-Ave-Los-Angeles-CA-90043

See it on Zillow:
http://www.zillow.com/homedetails/6714-7th-Ave-Los-Angeles-CA-90043/20327912_zpid/

Benefit of location: Walking distance to the upcoming Crenshaw/Hyde Park Metro and 3 miles to the new coming football stadium in Inglewood.

Let me know about the California properties

Can you do 90% for a buy and hold condo in Ventura County, California.  My offer has been accepted and I am in need of funding.

I have a vacant house in Wabash Indiana if you are interested.

Ok, I will give you a call this afternoon.

Do you charge a loan origination fee or any costs that are to be paid before the loan is approved?

I applied for a 100% financed loan for a buy and hold deal.  I followed the application instructions and got pre-approved (letter and all).  When I got the loan agreement contract it listed this, "7. Origination fee: The Borrower is charged 0.7 point (0.7%) of loan amount for loan origination; therefore the Borrower(s) is to pay [$1,288] as loan Origination fee."  I was asking for $184k.  

So, I sent everything to my attorney and he stated, "My concern remains that they will charge the loan origination fee, and never deliver the loan proceeds. I recommend you tell them to modify the contract so that the loan origination fee is part of the loan amount." He also listed many other reasons why he could "bless" this.

Virgo responded, "It is a regular practice worldwide that an up-front fee be charged by a lender for processing a new loan application, this is used as compensation for putting the loan in place. It is not professional to deduct this fee from the loan amount because payment of such gives the lender the conviction that the borrower is up to date and can meet up the loan repayment plan.  I accept the fact that the financial/funding tree is now occupied with unwanted fruits, however we are doing our best to sort them out but, the truth remains, in a funding transaction, there are charges all over the world, the united states not excluded. This is a secured funding and we have to take a lot of measures guiding our firm and transaction."

My attorney called the phone number they had on the application and he said it was just music playing.

So, since I pay the attorney to keep me out of trouble,  I didn't sign anything and I didn't pay any money.....just being cautious.

That was only "my" experience the past week or so.  Play it safe and have an attorney read over everything before you sign.  

Good luck to you all.

Do you work within California?  Have any upfront fees?

Let me know about how you can purchase First Look homes through Homepath. I see a home I am interested in that is currently listed as Coming Soon. [email protected]