Ibrahim S,It is distinctly possible that it may be able to get it discharged.

I know many HMLs can't lend all they have available or that can be raised simply because they deal in a smaller segment identified as higher risk borrowers.Many high risk borrowers end up being such due to poor money management, true, but some are in that situation due to no fault of thier own.

Yes, there's some that only do non owner occupied but it's not a monolithic among hard money lenders so the fact that we're debating that point shows some want to be message board know it alls instead of just giving feedback.Saying the lender owns the property is a distinction without a difference.

As someone who makes offers primarily over the phone I'm taking a hard look at docusign.com to email my documents and have them signed electronically. echosign.com is another popular alternative.The good side is it avoids messy faxing back and forth; the downside is it requires basic computer literacy which may be unworkable with a segment of the population.

HOWEVER, most FHLMC/FMNA / SECONDARY MARKET institutional lenders require that the originator have the NMLS endorsement for ANY 1-4 family loan, whether or not the loan is for consumer purposes, so many people think that is the law, which it's not.I believe that 90% of the people in the lending industry aren't aware of this distinction.

It is a subtle but important distinction.

Called an L3C, it is an entity distinct from an LLC.

I just watched a webinar about a Nicaraguan development I work with where they had a segment with an IRA/401K expert on it talking about the options for investing with those funds.

The reason I wanted to have the property in the LLC name was mainly so that the rent check would be to the LLC as opposed to my personal name for privacy and business distinction purposes.

. :-) We also have an introduction segment at the beginning around 6:30, so be prepared to stand up for 20 seconds and introduce yourself.