Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

Here is what Gemini AI says, better put than I can:Land Contracts in Kentucky: A Brief OverviewA land contract, also known as a contract for deed or installment sale contract, is a type of real estate purchase agreement where the seller retains title to the property until the buyer has paid the full purchase price, typically in installments.Key Features of a Kentucky Land Contract: Conditional Title Transfer: The seller maintains legal title to the property until the buyer has fully paid the purchase price.

Title insurance does not represent the status of title to real property, and an insured cannot rely on the title policy to represent the title.

The closing costs to consider are the recording, legal, title search, insurance, appraisal, and escrow fees.6.

Can you change the title, order of photos, edit the listing description, add a bottle of wine and goodies during low season to attract more booking.  

I would use a service such as vacationrentaldesk.com for this.A direct booking is no more risky than a booking through VRBO or Airbnb; they aren’t verifying identity, either.In fact, my own company has taken thousands of reservations over 19 years, and we don’t verify identity.  

Just started the Refi process and my lender sent the title search under my personal name and is starting the loan in my personal instead of LLC.

What I've been told is that it's unlikely assuming the owner of the LLC is the same name as the person on the original title etc...I'm not an expert here, but this has been my experience with the first few properties I've purchased. 

For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a credit identity with business credit reporting agencies, also known as a business credit profile.Reality check:  > Funding your business with your home equity or personal savings/guarantee is a HUGE risk  > ~45% of Small Businesses applied for a Business Loan in 2023  > Less than 2% of SBA Loans are actually funded/approved  > 29% of Small Businesses FAIL because thee run out of Capital  > Your company’s name on a credit card is NOT corporate credit (if you used your FICO score to get it)  > Business (EIN) credit will open new ways to finance your growthIf you keep doing what you've always done, you'll keep getting what you always got!

But if he has a bunch of junior liens or judgements etc  then you have to run the foreclosures to clear those from title.