Sounds like there may be requirements for certain note holders for compliance even when they hire sub-servicers or servicers based on the total loans serviced, being over 500, I'd say that would be any independent servicer, like GreenTree.Looking forward to the future final rule, LOL :)

I guess I've completed about 45 total deals in the past 4 plus years.Since I wanted to make a contribution to BP community, I thought rather than have my first post be a fast intro I'd jump right into it, starting with one of the most favorite topics - Direct mail.It was just over a year ago when I began to realize that the short sale business was beginning to dry up (meaning it was less investor friendly and there were now many bidders for properties where before I had been the sole bidder).

Or maybe they lost their job.I would also respond in writing stating what has occurred and the total amount now past due (rent + late fee).

the total bill I think was 200, so at most it was 100 increase, dont really mind the money, but its the mother of the girl renting who is calling and I just dont want to get run over.

It's in the suburbs - two buildings (next to each other) with 4 rentals in total.Long-term tenants with total rent = $3050/month Asking Price: $272,000 (I can definitely get it down to $246,000)Taxes: $2300/yearLocation: The city is OK.

With mother in law at $550-$650 could be <$1,300 total)$635/month expenses (Includes P&I and taxes)

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

. ($120,000)B) Fannie Mae DFE who will do "The loan amount will be limited to the lesser of: (a) 70-75% of ARV and (b) your original purchase price plus total closing costs and prepaids on the new loan

I agree with J Scott, you might reduce your total hold time by selling it early, but you risk lower offers and reducing your company image.

I didn't totally see the reason behind it, but before I rehabbed this current unit, I wanted to think it through.