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1 June 2024 | 2 replies
The properties are either one street down from each other or are 2-4 buildings next door.Property #1 (Currently live in with my family and I)Purchase Date May 2021Mortgage Balance: $117,898Rate: 3.625%Mortgage payment including escrow: $870.51Purchase Price: $143,000Tax: $3,308Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $110 monthly includes Water and building insurance and other maintenance for the propertyProperty #2:Purchase Date:: April 2022Mortgage Balance: $135,756Rate: 4.625%Mortgage payment including escrow: $1,375 (payment normally $1,059 but payment increased due to low balance on escrow because of tax increases)Purchase Price: $148,000Tax: $4,578Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #3:Purchase Date:: February 2023Mortgage Balance: $118,518Rate: 5.99%Mortgage payment including escrow: $1,315 (taxes have gone up for this property as well)Purchase Price: $132,000Tax: $4,522Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,400 a month only water is included in rentProperty #4: (We were thinking of selling this and take profits but not sure to be honest)Purchase Date:: February 2024Mortgage Balance: $139,408Rate: 6.75%Mortgage payment including escrow: $1,332Purchase Price: $147,000Tax: $4,130Estimate to sell in today's market: $190,000- $210,000 based on current sales in the market this yearHOA: $100 monthly includes Water and building insurance and other maintenance for the propertyRent: $1,350 a month only water is included in rent
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2 June 2024 | 18 replies
I am trying to locate an attorney that can help me negotiate settlements for 7 DSCR investor mortgages on single family homes that are at risk of defaulting.
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31 May 2024 | 6 replies
Let me summarize what I understood and please let me know if I am off base:You are moving and currently have a property with a great interest rate, strong rental market because of military base, and 15 years left on the mortgage.
1 June 2024 | 4 replies
I have requested this issue from the lender and have not received a response.
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1 June 2024 | 4 replies
The second was that there were 8 telescopic support poles in the basement that needed to be replaced with permanent poles prior to closing per the lender.
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31 May 2024 | 149 replies
I thought with an assumable mortgage, you go through the lender and replace the name on the mortgage.
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3 June 2024 | 5 replies
Most people believe the only way real estate professionals should be paid is as part of a commission basis such as a real estate broker or mortgage broker.
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1 June 2024 | 2 replies
Best,Eugene NilusProviding Funding for Fix and Flip | Transactional | EMDI asked for a POF a couple of days ago from a potential buyer, only to be given a letter from a hard money lender that the hard money lender has xxx dollars in the bank.
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29 May 2024 | 11 replies
In our contract with the lender there is no timeframe stated for when the property needs to close by and the lender needs to be paid.
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29 May 2024 | 2 replies
My current w2 income doesn't qualify me for both mortgages.