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26 December 2017 | 125 replies
A Commercial lender or a local bank may not see it the same way but it can be nearly assured that a lender who sells a loan to Fannie Mae, Freddie Mac, or Ginnae Mae will be using the below to determine contingent liabilities: (copy & paste FNMA guide)Co-Signed LoansWhen a borrower co-signs for a loan to enable another party (the primary obligor) to obtaincredit—but is not the party who is actually repaying the debt—the borrower has a contingentliability.The liability does not need to be considered as part of the borrower’s recurring monthly debtobligations if the lender can verify a history of documented payments on the co-signed debt bythe primary obligor and ascertain that there is not a history of delinquent payments for that debt(since this could be an indication that the co-signer might have to assume the obligation at somepoint in the future).Generally, the primary obligor should have been making payments on the debt for at least 12months (although shorter payment histories may be considered on a case-by-case basis).The liability does need to be considered as part of the borrower’s recurring monthly debtobligations if:• payment by the primary obligor cannot be sufficiently documented,• a sufficient payment history has not been established for the debt, or• the primary obligor has a history of being delinquent in making payments on the debt.
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22 April 2013 | 109 replies
Having said that it would be nice is you could enable or disable key functionality in the model to scale down to a SFR or up to a more sophisticated private equity deal.
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26 September 2017 | 4 replies
It is time for us to force a judgement or two in Michigan to stop the Government overreach that these registration, and inspection ordinances enable.
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20 March 2023 | 10 replies
This doesn't cost anything extra, but it adds another layer of protection for you under their policy (only for liability coverage) and it enables you to track the policy.
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17 March 2013 | 11 replies
They don't have time, nor will they review any supplemental documents. 2.
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17 November 2013 | 9 replies
I've been checking up on them, and was recently astounded when they told us they would not be paying our supplemental tax bill (the difference between the old tax bill and new one based on purchase price of the condo).
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8 March 2017 | 15 replies
Here are a few things that I have learned over the years that might supplement the spreadsheet discussion:- you never understand the full extend of the rehab until the demo is complete!
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20 September 2012 | 23 replies
Also, there are a lot of SmartPhone apps available today that enable small businesses to accept credit cards.
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29 April 2015 | 12 replies
I was thinking along those same lines @Brian P. by approaching her with an offer for a portion (ie 1/3) cash and the remainder carried back in a second position note for a period of two years additional to enable me time to force appreciation in the property.
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18 June 2015 | 1 reply
There square measure some websites that conjointly enable you to advertise your business set up and so suit you up with an identical capitalist.