Daniel Colon
Lender won't let me move the property to my LLC
19 June 2024 | 32 replies
Both FNMA and FHLMC permit this, under the following circumstances: Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the propertya limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Citation: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (04/13/2022)Now, you will still have the Note and reporting in your name individually and will still be personally responsible for the mortgage and most likely, the manner of transfer will enable any litigant to pierce the veil of your LLC, but you'll have what you wanted, for whatever reason.
J Zhang
Fannie Mae Condo mortgage rules
17 June 2024 | 6 replies
I thought fee-simple, lease hold and life estate etc. as types of ownership, and condo and co-op are created using other legal instruments.
Robin Simon
What Are Current DSCR Loan Rates? Key Market Movers and How to Track Rates
18 June 2024 | 0 replies
This means they are bundled together and turned into bonds, financial instruments that pay out interest (yield) to investors looking for a steady, fixed return.
Patrick K.
regarding subject to financing.
19 June 2024 | 42 replies
The likelihood of all of these occurring is low in a typical subject-to transaction. its why way back in our day we did these with wraps CA has a debt instrument called an All inclusive Deed of Trust it wraps the orginal mortgage it is a second in function my dad had a company called CA wrap back in the day and did hundreds of them.. its de ja vu all over again.. he did this during the Carter interest rate spikes just like sub too is now coming to light in a big way because of interest rate spikes..
Leslie Sholty
Legal Descritption Title Help!!!!!
13 June 2024 | 2 replies
The person who owned it before me filed an affidavit of correction for a mortgage he had on the property and referenced an instrument number that had the wrong legal description.
Simone Montague-Jackson
Real Estate Syndications: Spark Rental
14 June 2024 | 15 replies
Small dollar, unaccredited investors with little real estate experience are wholly unsuitable for the investments you are selling.
Kyle Kline
Personal Funds vs. HELOC to Fund a Property
14 June 2024 | 14 replies
It's a short term debt instrument and needs to be treated that way.
Don Konipol
Tax liens and Mortgage liens
16 June 2024 | 40 replies
Apparently, Lester Bird had been instrumental in getting John Beck residence status in Antigua. 5 billion people and yet a small world. 6 degrees of separation!
Brian Freeman
My Story of being scammed by Morris Invest and Oceanpointe
15 June 2024 | 54 replies
so he is really fubared either way on that score. undisclosed principal in a real estate transaction is a no no as well.Joe,, Indy is like any other big mid western rust belt city.. it has its great areas with 500 to multi million dollar homes its regentrifying areas were two chicks and a hammer work.. and we do as well.. then you have solid B class vinyl village 10 year to 20 year old stocksame thing applies here U buy D class hood properties your in trouble unless your a local hands on landlord.Morris advertises and markets D class as solid easy to manage just grateful for a place to live type properties.. he is just a bozo who has no real clue as to what he is talking about in the real estate space.. that's the bottom line.. and to think all these people think he is a genius investor LOLas I like to do I can compare this to aviation u tubes.. there is this pilot in CA.. that was doing U tubes flying from Auburn CA ( above Sacramento) to Oakland a lot.. he likes to video his instrument approach's etc.. problem is he bust just about all the minimums and one time he landed in Oakland with virtually zero zero and was bragging about it.. on an ILS unless your cat 111 approach if you do not have the runway in sight at 200 feet AGL which no way he did you could see it on his utube your to do a go around.. yet he just landed with about 20 feet of vis. problem is you have others who are not pilots or beginners just thinking he is the ace of the base..
Carlos Ptriawan
as unemployment would be 100% going up next year and higher chance of recession
20 June 2024 | 245 replies
If someone looked at the most core instrumental price to keep the economy and world afloat at this rate--oil--that'd give you the longest pause.