All Forum Posts by: Robert Guilfoyle

Congrats @Aron Cohen - I have been looking in Philadelphia as well. Did you buy from a wholesaler or off the MLS? Thanks!

@Jay Hinrichs @Richard Bailey  Thanks!  That makes sense...

@Jay Hinrichs thanks!  I don't understand what this is measuring then? 

Is this population increase since 2004? 

I am sorry you are experiencing this with your home. 

Did you have an inspection performed before you purchased this house? 

You indicated that you purchased the house two years ago.  Is this correct? If so, I am not a lawyer but, I don't think there is much that can be done if you did indeed purchase the house two years ago. 

I will await more knowledgeable to respond.  

@James McAlister Thanks for the information.  Do you lend in NJ or PA?

So I contacted a couple HML's and one of them indicated that they require you to pay the rehab costs upfront, per a draw schedule and % of completion, they will inspect and approve and reimburse.

Do all HML's have this requirement?

Thinking more about it, I assume they have maybe 3-4 inspections, to in effect you will only be out 1/3 of the rehab costs at any point in time.  Is this a correct assumption?

Thanks!

@Kristin Romine being in the military, you can use Andrews Federal Credit Union who will give you a HELOC on 95% LTV - you will have to pay for an appraisal unless you have had one completed in the last year. I just applied for one this weekend. Waiting to hear back from them...