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29 January 2025 | 21 replies
The borrower MUST receive something of value for the deed in lieu, agreeing not to foreclose immediately and giving the borrower time to reinstate, or providing a modification, is that something of value.I need to clarify that these notes are commercial and investment property, so do not have to comply with residential lending requirements.With a deed in lieu there is no foreclosure, judicial or non judicial.
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25 January 2025 | 2 replies
No, he's not an architect, he drew all designs, floor plan, site plan, etc, and we had a structural engineer design his part, and paid an architect to sign off on them.
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3 January 2025 | 45 replies
For example, my average terms are 90%-100% LTV and 10% interest flat no points or pre-payment penalty.
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22 January 2025 | 12 replies
I did number 2 with no regrets.
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23 January 2025 | 3 replies
Speak with lenders - and consider that although they might agree they could lend to you today - they might not be able to when you need the loan.Unless the existing debt has no due-on-sale provision, there will always be a risk of the underlying loan being called.If it were to be called due:1.
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13 February 2025 | 22 replies
No need to pay hundreds a month for an apt when I literally sleep over at his every night anyway.
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22 January 2025 | 13 replies
There is a time and a place for sub to no doubt but wholesalers to me are not the time or place.
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21 January 2025 | 18 replies
Quote from @Beth Johnson: @Marina Wong No. we just charge the servicing set-up fee at close.
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22 January 2025 | 16 replies
Quote from @Khyree Randall: @Caleb Brown no offense but a snowball has more of a chance in hell not melting than me ever knocking on a door.