All Forum Posts by: Todd Moriarty

Noteschool's mentoring program is for a 2,3, or 4 year term.  At $20k, $30k, $40k, respectively.

Then $1,500 per year after to re-new.  I'm still looking at other programs and learning since this is all new to me.    

Hi all.  I just attended Eddie Speed's 3 day NoteSchool bootcamp in Detroit and I enjoyed it.  The speakers/instructors were professional, experienced and knowledgeable.  They were organized with a lot of info.  A few times I was lost when they were talking about advanced strategies with selling a "portion" of a PN. 

The continuing mentoring programs are very expensive: $20k for 2 years, $30k for 3 years, $40k for 4 years.  I guess it would be worth it if you recoup that money in future deals, and learn along the way.   I actually seriously considered it, but felt I needed a little more time to research the industry.    Would love to hear from past/current students who took the mentoring, applied themselves and were successful.     

Thanks Derek.

I'm looking at assuming a commercial loan on a multi-family building and just confirming the steps involved.  The loan is assumable....so....if the purchase price is $1,000,000 and the current loan balance is $900,000, I pay the difference of $100,000 for the downpayment?  What about closing costs?  What's typical for something like this?

I just filed a complaint with the CFPB.

We did send a letter. I said that earlier in my posts. I don't believe what someone over the phone tells me, so we sent an "official" letter to their PMI department and they mailed us back that she needs 20% paid off the original loan.

I wish Huntington would do that, but that's not their policy.   I figured it was because of the housing crash, they're more cautious now with deadbeat homeowners.

In the past you just needed 20% equity in the house, but some banks are not doing that anymore.

Thanks everybody.    You guys rock!

My GF will probably refinance with a different lender.  Or move. 

I think it may depend on the bank, which is Huntington. We called them to get their policy on removing the PMI and the customer service lady told us on the phone that my girlfriend needed 20% paid off the loan. I didn't believe this (I believe 50% of what I see and 0% of what I hear...call me cynical).

So we wrote an "official" letter to their PMI department and they responded with the same thing....they want to see 20% paid off the original loan. I think this is very unreasonable and unfair! And not the norm. Just thought I'd check around to see if others are hearing this.

We wrote a letter to the bank and they said only if 20% paid off the original loan.   She does not have 20% paid off the loan.

She has 20% equity based on the property value (we pulled our own comps),....but not 20% off the loan.