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29 March 2017 | 30 replies
I would just leave tenants in the home until I pay off enough of the loan to sell it, but the tenants are complaining and at some point here I won't even be able to have renters, and the home is only going to decrease in value as it falls apart.The $60,000 quote came from a market analysis the property manager had done on the home, and it is right in there with every AP like zillow etc (I know they aren't typically accurate, but the market analysis should be).
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24 March 2017 | 4 replies
Self-employed individuals have income they write off -underwriters can verify and put those write offs back to increase the income/decrease the debt-to-income ratio.
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23 March 2017 | 3 replies
Since the Fed already announced their expectations for the year, I wouldn't expect any major decreases in the next few months.
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29 March 2017 | 11 replies
Higher home ownership and more competition from other investors increases supply and therefore decreases demand.
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30 March 2017 | 3 replies
At the time of closing the selling price was decreased by the total of the security deposit and last month payment.
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26 January 2017 | 11 replies
That means by not allowing pets you are decreasing your applicants by potentially 33% or more.Just cover yourself with good screening, pet deposit and pet rent.
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28 January 2017 | 10 replies
My properties are near Raleigh currently and the returns are decreasing everyday in my opinion.
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27 January 2017 | 5 replies
Things like Foreclosure rates, Increases or decreases in property values and sales, or home availability.
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29 January 2017 | 21 replies
Im not sure about other mortgage servicers however, most that I've read on their guidelines to remove PMI including from the mortgage company I work at currently are below (Fannie & Freddie conventional):- when you reach 80% of the ORIGINAL purchase value you can request to remove PMI however a BPO (brokers price opinion aka cheap & dirty version of a regular appraisal) will be needed to verify the property did not decrease in value- If you've done improvements (sounds like your story) you can request a BPO to verify your loan is at 80% of current market value (ARV) which can go from regular BPO price of 150-175 dollars up to regular appraisal if interiors need inspection as well (interior & exteriors = regular appraisal 450-550).- if the loan is atleast 2 years old (paid on time of course) and not more than 5 years old the borrower can request a BPO if the borrower believes the value has increased enough based on market value alone to remove MI but the requirement for this market value only increase is 75% LTV or lower based on the current BPO (so in essence you need 25% equity on current FMV - fair market value).- for the above 3 scenarios payments must be current with no 30 day lates in the past 12 months or 60 day lates in the past 24 months (on the current mortgage or "other," credit too)What is interesting is the above only applies to 1 unit properties because 2-4 unit properties its the same as the above except the requirement is 35% equity or 65% LTV (same).
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22 June 2018 | 2 replies
Elizabeth has what I would describe as a strong rental community, but market your unit aggressively and develop a solid screening criteria to decrease turnover and the chances of eviction2) Partner with a Realtor or call the tax assessor to get the up to date taxes on the property, also note that when you make improvements to the house that require you to open permits you run the risk of a tax increase.Hope this helps reach out if you need anything