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23 January 2025 | 7 replies
You can put a mortgage into a "trust: without triggering a due on sale but again contacting your bank/lender is the best route to avoid any issues.Some banks/lenders or servicing companies change guidelines and even a trust may require other paperwork but the attorney usually facilitates that to be safe.
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23 January 2025 | 1 reply
When I tried to get it when my side of the family found out and tried tp take over reverse mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.
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21 January 2025 | 8 replies
Quote from @Griffin Malcolm: Open an LLC and apply for a small business line of credit from Key Bank.
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21 January 2025 | 4 replies
The liquidity or funds for the purchase can be in your new entity or your personal bank acct.
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23 January 2025 | 15 replies
I have a few banks and family offices I've worked with for years that will definately do the deals with me.
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4 February 2025 | 24 replies
Was told initially it was a banking issue, but we will see what the latest is .
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27 January 2025 | 7 replies
I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require PMI which is an additional expense, and you also need bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.
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23 February 2025 | 246 replies
And as my core commercial banks understood that I doing everything i could to protect them.
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18 February 2025 | 15 replies
I have one more key question: Since I'll be starting my first-year job upon arrival, banks might be hesitant to lend to me initially.
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30 January 2025 | 4 replies
Think of this; if the buyer can't qualify for a bank loan,,,, why the heck should you stick your head into a note and mortgate noose??