All Forum Posts by: Yael Maroko

 I just got off the phone with them, they need a release letter from the old lender. I will try to get it.. and I will keep sending emails

I have the appraisal report, but the new lender wants to get it from the old one.

I'd rather not do another appraisal since the tenant on the house (its a rental) gave me a hard time.. I'd rather try to get it from the older lender.

The reason I could not go through with them is technical - I would not provide them certain documents regarding my current dwelling (which I was not aware I needed to do with a DSCR loan), I did not start the process with the new lender until I made sure I absolutely need to.

I also paid them for the process 1K which I'm pretty sure I wont get back even though it was clearly mentioned that I will if the loan doesnt go through.

This feels like such a wild market.. every lender has its own rules..its my first time so I'm learning, will never work with another lender before asking ALL the right questions.

But getting my tenant upset again is not something I wish to do.. so I hope a few emails a day will do the trick   

So even though I paid for it - they will not transfer the appraisal? 

Yes, it was done through AMC - and I was sent the payment link - which I paid.

its a DSCR loan, not an FHA. And it is very clear I will not do the loan with them.

I have written them a few times.. I guess I will just keep nagging then 

Hi,

I started a loan process with a certain lender (private company, not a broker), they did the appraisal (which I paid for of course), at some point I decided we were not the right fit for me and I decided not to proceed with them.

I understand its common practice to ask them to send the appraisal to the new lender be email (that's what the my new lender asked me to do - I have the appraisal, but he needs to get it from them)

I asked that from the former lender, but its been a few days and they did not send it yet.

Any advice on how to expedite it? Or I should just wait a few more days, send them a few more emails about it and hope someone will bother..

Thanks

Yes, I am referring to a DSCR loan.

OK, so this is something I need to ask the lender as part of my lender due diligence. 

So its not usually a requirement? Even when I'm far from the property? 

Hi,

I am an out of state investor, currently rehabbing a property which I plan to rent out and refinance in a few months. 

From what I was reading about refinancing requirements - seems like some of them require the property to be managed by a management company. 

Can I self manage this property and still get a refinance? (I have boots on the ground in case needed)

Thanks  

Hello,

I am an out of state real estate investor coming to Atlanta on the last week of July, would love to hang out with other investors - if you know any RE meetings I can join, please let me know.

Much appreciated!

Yep, still buying (when I have the money..)