Jeff Kennedy
New law restricting local banks from funding loans for properties consisting of less than 5 units
15 January 2014 | 12 replies
Many lenders, including myself are not going to even try to distinguish between residential homestead and residential investment property - we are just going to stick with commercial property where the borrower can't later move in and have his attorney claim we made a non conforming consumer loan.Casualty of excessive Government interference in the market.
Lindsay Wilcox
Homeowner Living in Non-Conforming Unit?
19 January 2014 | 37 replies
The basement does not have conforming egress windows, and was decomissioned as a 4th unit and then mostly un-finished.My question(s): If I were to re-finish the basement, could I live in it?
Craig Bellot
Advice on structuring 4-plex partnership
16 January 2014 | 6 replies
Your investment partnership will require you to conform to federal and local SEC regulations which may just be a few documents if they are a friend or business associate.
Andrew Fidler
Bank foreclosed on the parcel with house but not the side yard with driveway???
14 September 2015 | 12 replies
A property in Maine comprised of 4 small parcels was merged by ordinance into a single conforming lot.
Ed Wood
HELOC's and Jumbo Loans Surge as Vannila Loans Slump
15 January 2014 | 0 replies
Wells Fargo is off by a whopping 60% and Chase is down by 54% when it comes to normal, old, conforming mortgage financing.
Bryan H.
Mobile Home Park - Lease Option
21 January 2020 | 6 replies
It is because her water lines are failing and eating up 28% of her expenses.I just met with the city and the park is non-conforming, no additional homes can be brought in unless significant changes are made to the park.I also found out today, a large private school is looking to build on the 50 acre lot right behind the park.
Jonathan Perez
houston wholesalers
16 July 2014 | 4 replies
My cousin helped me out on farming neighbors.and finding conforming neighborhoods but the thing is hes in SA TX.
Kirk Neste
Converting Primary Residence to Investment Property
13 June 2013 | 2 replies
I refinanced my mortgage on the condo 6 months ago as my primary residence (30 year fixed, conforming loan).
Vernon Henry
Want to cancel acceptance of offer
30 June 2013 | 10 replies
With some contracts even if you sent it but have not been provided conformation that they received it you can send another document cancelling the agreement.Really at this point you definitely need an attorney to see what you have signed or not signed and what has official acceptance and how you might get out of it or renegotiate the deal.No legal advice.
Michael Spindler
Maxium number of properties (RMF)?
2 July 2013 | 13 replies
The above only applies to "conforming" residential mortgages to be sold on the secondary market to people like Fannie & Freddie.4.