By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

But, the seller will never close a sale until the buyer releases that claim and withdraws the affidavit because a new buyer's title company will not issue a title policy and the new buyer's mortgage lender will not make a mortgage loan.Its not worth doing in this case but when real money is involved it is pretty effective.

I was also going to ask if you'll have access to the property - many lenders will require an appraisal.

The Role of Mortgage Brokers in Real Estate FinancingMortgage brokers act as intermediaries between you and lenders, streamlining the loan process while finding the best deals for your unique situation.

If it’s a blanket loan they would talk to the lender ahead of time.

Many lenders also impose additional requirements such as owner-occupancy, and/or that one lender make all of the institutional loans in the building.- Valuation: The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.

Now solely as a lender, i actually reverted back to it in unison with our mortgage origination software. 

Once you move to Chicago, look for similar groups—Chicago has a vibrant real estate community.Building a Team: Since you’re new, connecting with a knowledgeable real estate agent, lender, and property manager in your target area is critical.

One requirement for this loan product is that the rehab must be completed by a licensed and insured contractor approved by the lender.