Based on the desired monthly payment, we use a financial calculator to determine the necessary terms to achieve that payment, considering the price the seller is asking.If interest rates are not specified, our initial offer includes our desired monthly payment along with their asking price, with a balloon payment due in year 20.

She even sent a long-ranting letter to our listing agent, screaming about how lucky she didn't recommend her clients from breaking escrow, etc, etc.

Here’s the message I received: The previous tenant only just picked up his deposit refund letter, after leaving it unclaimed since late year… yes, really, nine months later!!

If you don't want to wait 30 years, we could amortize it over 30 years and have a balloon payment due in 10 in which case I'll refinance you out or sell the property.Why are you selling the property? 

Try sending a registered letter terminating their services unless you hear from them within 5 days.

The insurer says that the CC on file keeps getting denied.The borrower is failing to respond to calls/texts/emails/letters regarding the situation.The mortgage that was signed/recorded permits the lender to recover any charges associated with the need to apply this type of insurance policy, but doesn't specify how those charges are to be recoveredIn this example, the annual premium for the FPI that I (Lender) paid is roughly $1000.

Your strategy may work on a bridge loan, however, you will need to be careful about the balloon payment.

She will get each beneficiary to sign off on allowing this to happen, lessening their inheritance cash-wise but keeping the family in a home.My idea is that the trustee daughter could purchase the home, but could do so instead through a sort of owner-financing where the Trust finances the asset to her directly rather than buying it in full at great cost and taking out a mortgage on an already paid for property:- Property is in Trust and is fully paid off,- Trust finances the property to Trustee for closer to market value, and payment can still be set at 1500- No/less down payment required- Any interest rate, maybe 0- Tenant family makes rent payment of 1500, which pays off the property and pays into Trust- Beneficiaries' % share accrues gradually as payments are made- Set future balloon payment if necessary (if Balance required at a certain time, for college, etc.)This would decrease the out-of-pocket cost for the Trustee purchaser, and increase the amount that each beneficiary will receive (eventually).I have no Trust experience, though, and I'm hoping to hear from the experts.

That means shorter loan terms, higher qualification hurdles and floating rate or balloon components.

I find that part highly unusual and I wanted to make sure the way I read that was accurate.Chris I suspect Engelo was just asking for a POF  just like I ask from anyone trying to buy any of my properties be them wholesalers or buyers on my new construction we want to know they have the means to transact.. this is usually just a letter from their lender.