Apparently the entity was not valid so "A" walked away with a chunk and it turns out that the mortgage broker who set up the loan using the hyper-inflated appraisal knew what was going on and was getting a kickback from "A".

I have a 600 Mid Score..want to buy a house at 230k, it has 3k a month right now of rental income from tenants.

I make 32k a year, and also have 2 years of bank statements.

Is this possible? Through "My Community" ...

I'm a wholesaler and mortgage broker, looking to network with fellow investors in the RIV, OC and LA counties.

My worst losses have been over brokers and their agents ignoring my offer and presenting one they had all along.

I have a tool in the upper right corner on my blog that will take you directly to the HUD site for your state , then I would suggest going in and reading the broker manual and the forms for buying a HUD home in your state, many states list the home for 10 days as owner occ, then on the 11th day it can be bid on by "all purchasers" which would be you as an investor.I have never heard of hard money lenders looking at your own home, they are typically concerned with the home that you are buying.

I agree on the hiring a buyer's broker / realtor.

I intend to buy more properties and it's good to know that a lender who understands what ingenuity can bring to a deal is out there.Japutt,The mortgage broker said around 7% and I can buy a point for $1350 after I put the $15k down.

hi steve hatch i am a note broker who buys land contracts my name is jason from j.b.blake funding call me today if you still have any notes for sale [REMOVED]

first of all - if he's a buyers agent - meaning he will represent you, the buyer exclusively - the selling agent pays his commission.for every listing through a broker - there is an automatic split - for instance, at X real estate brokerage - they have a minimum that they'll take, say 3%...then when the get a listing, they'll take a 5% comission, offering 2% to agents bringing a buyer.forget this guy you met.

Generally when I see mortgage brokers putting someone into an IO loan it's to get them A BIGGER MORTGAGE than they otherwise would qualify for.For example; on a $100,000 mortgage, 30 year, 7%, an IO payment is $583/month, an amortizing loan would be $665, an increase of 14%.