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29 December 2013 | 8 replies
You just need to make sure you factor the costs of borrowing the money from a hard lender into your formula so all of your numbers work.Transactional funding comes from companies who typically will fund a deal for one day.
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30 December 2013 | 4 replies
I'm seeing a more aggressive stance from what is being claimed by members here on BP, such as cash out refis after 6 months, it must be in areas where property values are going back up at a faster rate in general.On the conservative side, prudent lending practices will be stressed, meaning that a lender may not do so much of those "if it makes sense, we loan it" type deals, it may be tougher for a deal to make sense.All in all, I doubt a qualified borrower will see much of a difference on the street as the new changes will be played out in the operations side of the lenders and their relationships between other lenders and securitized markets.Actually there are more aggressive measures in making a loan, the debt to income for a residential loan has gone from 36% to 43% allowing borrowers to qualify with more debt!
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27 December 2013 | 7 replies
,Most banks want you to have skin in the deal, and most will ask you is the down payment borrowed money, and you don't want to lie that is consider mortgage fraud.
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29 December 2013 | 13 replies
Slow to reach my goal of 20k saved I stopped at 10k and purchased a hud home for myself at 70k with comparable properties ranging from 90k to 120k with an FHA loan and 3.5% down.
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27 December 2013 | 8 replies
I think my offer would be to stop the bleeding.
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27 December 2013 | 9 replies
One of the upstairs tenants has a respiratory problem and coughs a lot, the complaining tenant can hear it and wants me to make that stop.
29 December 2013 | 30 replies
Even if you found a deal with a marketing budget of $50 and got it under contract, whats to stop it from falling thru again?
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28 December 2013 | 30 replies
I have a broker that steal my broker fees and didn't perform on the loan. worst i borrow the money from another investor. what is my options legally?
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27 December 2013 | 6 replies
If it wasn't for my wife today stopping me, I would have went under contract with the builder today for kitchen in the middle to save $4000.
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27 December 2013 | 11 replies
Looking back, it appears that the right strategy was to borrow a million + from the bank, lock it in between 3.5 - 4.0% 30 year conventional and never see these rates again in our life time.