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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.
18 June 2024 | 2 replies
It's a whole suite of forms that you can utilize for move in, pets, extentions, applications etc.
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20 June 2024 | 27 replies
How are the application of the lawsHere in Houston, you can even go down another level and take into consideration the specific judge for the court precinct to consider if they're landlord friendly.We have judges here providing legal advice on how to appeal etc.
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19 June 2024 | 4 replies
we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.
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19 June 2024 | 18 replies
A DSCR loan is underwritten based off of the applicants credit and an appraisal rent schedule.
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18 June 2024 | 8 replies
You can play with pricing to see how it affects demand, so you have a better idea of the quality of prospects and how many you get at different price points.You could also then modify your ad to identify a target MoveIn date and start accepting & processing applications.
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17 June 2024 | 27 replies
Similar to any applicant you have good people and negative people.)
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17 June 2024 | 4 replies
If I install some smart lock door that I can control entry code, then I can simply give the temp entry code to the applicant.
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17 June 2024 | 7 replies
We are planning on using someone local to make sure all applicable laws and regulations are followed as we understand this is not a generic transaction.
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20 June 2024 | 37 replies
Asset research, acquisition, management, repairs, note restructuring, servicing, rental/leasing, and disposition as applicable.