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14 January 2022 | 12 replies
From the loan servicing guide:Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the property.a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.https://servicing-guide.fannie...
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4 June 2022 | 5 replies
They are also another financial instrument that is hedged against inflation but instead of locking up a short term rate with fixed principal and only adjusted interest rates for I-Bonds, I highly recommend you go for TIPs since they will have the principal adjusted for inflation and the interest rate you lock in will be proportional to inflation.
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31 January 2022 | 0 replies
Often referred to as bridge loans, hard money loans are short-term lending instruments that are also used by real estate investors for financing an investment project.
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2 February 2022 | 4 replies
Smoking is considered cigarettes, cigars, pipes, hookahs, water pipes, vapes, e-cigarettes, and any other like kind instrument that produces smoke or vapor, regardless of whether tobacco or other consumables are used.Never underestimate the stupidity of the average person.
1 February 2022 | 0 replies
My credit is average, how instrumental would my personal credit and finances be to get a LOC with the equity?
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14 May 2021 | 6 replies
Then He plays very loud music, won’t let anyone in his unit including the water department cause our water bill and electric bills have skyrocketed, when the contractor goes upstairs to fix the upstairs unit he lets everyone know there was a suicide in the unit which we feel will scare away another tenant when we are trying to get it filled.
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12 May 2021 | 1 reply
She also complained that the amount of the new subordinate note and security instrument were more than double the arrearage costs added to the new unpaid principal, and further, accused the servicer of making “a partial claim to HUD for these same fees in the maximum amount” refunded by HUD in order to collect “over and above the amount of…fees, costs, and interest.”
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14 May 2021 | 1 reply
The trustee would be me.If I place an LP fund which holds an LLC real estate syndication into the trust, and the LLC fund produces income in the form of distributions and capital appreciation/gains, could the 'trust instrument' be used to direct all incoming proceeds to be invested into a bank which then places funds into a 529 plan?
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10 June 2021 | 7 replies
It is a two university town with a great arts and music district.
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17 May 2021 | 12 replies
Just to get on the same sheet of music, you want to pay of a fixed rate 2.75% loan with a variable rate, 4% interest loan, when real rates are teetering on being negative?