All Forum Posts by: Tracy Humphreys

Anyone own a credit repair agency? I'm asking b/c so many people I know need this service. I'm actually thinking about starting an agency to help people.

I know someone who has an investment property. His LTV is 90 and he would like to refinance ASAP. His FICO is 654 and the property is located in Brooklyn NY. Please let me know if this is possible.

Thanks.

How are all the loan officers and lenders out there feeling with the new shift in this market? Is business still going well? Just curious to know.

Is anyone familiar with Dunn and Bradstreet numbers?? I'm curious b/c I wanted to know if this is an entity where you can hold real estate.

Would you recommend using an LLC to purchase investment property, or is there more to it? For those that have LLC's what do you use yours for?

Ok, so now that the subprime market is so volatile, what are options for people who want to still get in the real estate game? I imagine that over the next couple of years things are going to get crazy.

What will a person who has little very little money to invest do? How does one go about acquiring property now? Unfortunately I was just looking to get into the real estate game, but feel very nervous and discouraged.

I see a lot of people are doing short sales, foreclosure, bird dogging, wholesaling....are these areas better to deal with rather than actually buying rental property?

Any advice would be greatly appreciated.

I'm so frustrated right now.

Someone I know is looking to purchase a 3 family for 100% financing...no doc, is this possible? Eith all the mortgage regulations going on, I don't think so.

Also, this person said the the purpose for them purchasing this 3 family is to have a tax shelter...does this make sense?

What other things can a person to do for tax shelter purposes?

thanks in advance.

Hi,

I know someone who is through a short sale, as a result, his credit went from 750 to now 540. He is concerned with what's going to happen with his credit when the short sale is over.

Other than the foreclosure status on his credit everything else is clean and the payments are good. What steps can he take to clean up his credit? Can he start now or should he wait until after the short sale?

Thanks.

Hi Dave,

I gave the information to my friend and I refered him to your website...I hope he calls you.

Can you send me the list of sites you go to read about short sales??

I will do that! I knew all of this didn't sound right which is why I started reading up and doing some investigating. I will get right on this.

Will the attorney be able to do the short sale? Also, are there attorney's that specialize in short sales?

Oh boy...this is getting more and more complicated.

Basically the guy who is doing the short sale said he should give him power of attorney to do the deal b/c sometimes at the closing they go after the actual owner...is this true? Something tells me this guys is getting into a worse situation.

I will let him know about the 1099. Thanks for your help...this is really a tough situation.