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3 September 2024 | 3 replies
There are animals on the walls everywhere and it is very distracting.
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3 September 2024 | 7 replies
A general credit line, on the other hand, could be secured by other assets or unsecured, and doesn't necessarily involve your home equity.HELOC Characteristics: - Uses your home as collateral - Usually has a lower interest rate than unsecured credit lines - Typically has a variable interest rate - Allows you to borrow up to a certain limit, repay, and borrow again during the draw period - Can be used for various purposes, including home improvements, debt consolidation, or as an emergency fund While it's possible to use a HELOC for RE investing or rehab projects, some lenders may be hesitant about this use.
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5 September 2024 | 11 replies
There still is a tendency for DSCR Loans in particularly to get lumped in (throughout securitization) with other "Non-QM" loans, mostly owner-occupied when they really shouldn't be in my view, further a lot of the "tech" and software, systems buildout (including loan doc generators) are based on consumer resi which creates a lot of headaches.Anything rehab/construction related though (which is what the original post appears to be more about) is a different animals though - experiences are likely to vary markedly by market, lender, bank etc quite a bit
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1 September 2024 | 1 reply
I’m particularly interested in exploring international markets, given the unique characteristics of the home.
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29 August 2024 | 33 replies
Because there is no such thing as "Registering" an ESA animal!
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31 August 2024 | 18 replies
Animal control could be called on the neighbor.. and I'd make it a point to do just that.
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24 August 2024 | 9 replies
Service animals are included in the act.
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27 August 2024 | 12 replies
Here are the Fannie Mae guidelines for legally non-conforming properties:If the Property's characteristics are legally non-conforming, you must:ensure the Borrower executes the Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status) (Form 6275);confirm whether, if fully or partially destroyed, the Property's Improvements can be fully rebuilt to the pre-casualty condition per current laws, zoning requirements, and building codes; and if the Property’s Improvements cannot be fully rebuilt to the pre-casualty condition, evaluate if the as-rebuilt Property will support the Mortgage Loan at the current Tier, and document your analysis in the Transaction Approval Memo.To assess the Borrower's ability to rebuild Improvements on a non-conforming Property to a level that will support the Mortgage Loan at the current Tier, you should consider: conducting a threshold analysis to determine the resulting actual amortizing DSCR if the reconstructed Improvements cannot be rebuilt as-is per current law; the likelihood of a casualty event (e.g., wind, earthquake, fire, flood, mine subsidence, etc.); the percentage of damage to the Improvements at which the Property’s jurisdiction will require the Property be rebuilt to current zoning and land use requirements (i.e., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.
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28 August 2024 | 31 replies
Placed functional antiques in every room, an antique persian rug, a few animal skins.
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29 August 2024 | 20 replies
This pandemic was predicted and modeled mathematically for decades to occur either naturally from deforestation and human contact with rare animal species and insect species, or in the situation of COVID 19 from direct human manipulation, of viral genetics.