Some reverse mortgages are also exempt from the post-Recession "LO Compensation Rule," meaning your loan originator may be able to get bonused, or otherwise paid more, if your family takes a higher rate or worse terms/conditions.

From what you're saying your LO could be right and I'm basing this on the information provided.

Using a HELOC for a down payment requires that a LO actually be good at math, which is why the overwhelming majority are saying it "can't" be done.

Although the ad is basic, I was contacted by someone who saw my ad this morning and requested the address and then saw his ad later on in the day and requested the address.... and lo and behold they were the same.

I'm not a LO so I don't know the full details.My biggest challenge was finding a contractor that would be approved by the lender and also could sustain the long period of time to get paid through the draws.

Hello, I'm looking to market properties that I have under contract to Lease Option on my company website, craigslist and such. Since I do not have my RE license, my plan is to pass of the leads that I gather to an age...

We've worked with a number of investors over the years that used us for the exit strategy.You can certainly find cash buyers that will buy the houses and utilize your lease option program as an exit, but it's not as simple as that.It sounds like you are looking at doing this from the aspect of helping people, but something I learned early on was you have to get thick skin and also learn very well how to screen people and for a lease option to work, you really need to become knowledgeable in mortgage guidelines.If someone has $300 to put down, they aren't going to buy a house.From the cash buyer perspective, they need equity and a return on investment.Yes, we help a LOT of people with our LO program, but for it to work you have to approach it first from how to structure the lease option properly, which means the numbers etc.If you first approach it from how to help people with bad credit, you will get burned, and so will the cash buyer.

If not, work the numbers in for a L/O tactic.

After I got licensed as an LO, I was able to evaluate numbers and make an educated decision and stop the foreclosure and take over the property.

KyleThe FHA guidelines say that an individual may buy a 2-4 unit in which to live as his or her primary residence, and make a 3.5% down payment.If your LO (loan officer) is not able to do this loan, immediately we think1) Your LO's company does not offer FHA loans...this is unlikely but more and more of the big lenders are getting out of FHA mortgages completely.  2) If you already own a lot of rental units in your city, your LO may think that his underwriter will wonder if you are really going to live there, and what your true intentions as to occupancy of the property are going to be.