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26 August 2017 | 32 replies
I had a few of these early on, so what I started doing in the APPLICATION PHASE was have them sign and date a simple one sheet of paper with a small paragraph that stated something to the effect of, "I understand that if I intend to break the lease and not stay for the full one year period, I am responsible for paying the remaining balance of the lease regardless of how much time is left."
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17 November 2016 | 9 replies
They need to balance their portfolios for weight of investment/investors.
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1 March 2022 | 43 replies
I get a minimum of 5 and sometimes closer to 10 past due notices a month with balances reaching as high as $700.If they were to leverage the eviction process, leave you a huge water bill and a house needing significant repairs...
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31 March 2017 | 17 replies
Our Landlord-Tenant laws are actually quite balanced.
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30 January 2022 | 68 replies
It’s painful, but do your checks and balances and move on...
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27 September 2018 | 61 replies
Quick Tip (to steal from the podcast): If you continue to use Quickbooks (any version), just make sure you learn how to reconcile your balance sheet.
22 September 2018 | 6 replies
There is no notation of any balance due of late fees or 2 weeks rent due.
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30 March 2016 | 53 replies
., a lender may state on a loan application that a prospective borrower’s income is greater than it really is in order to facilitate approval of the loan);Adding insincere co-signers (lender adds a fake cosigner for loan approval);Making loans to mentally incapacitated homeowners;Forging signatures (lender forges a borrower’s signature on an early disclosure);Paying off lower income or interest mortgages;Loans in excess of 100% loan to value (LTV);Bait and switch tactics, such as substantially changing loan terms at closing;High annual interest rates;High points or padded closing costs;High loan origination fees;Balloon payments;Negative amortization (where principal balance increases rather than decreases);Padded appraisal costs (inflated home values in appraisal);Padded recording fees;Bogus fees (e.g., HUD will state that the broker has a fee for underwriting fee, when in fact brokers have no underwriting fee);Itemizing duplicate services and charging separately for them;Misinforming the prospective homebuyer that credit insurance is required and/or failing to disclose to the buyer that they are earning a commission on the insurance;Mandatory arbitration clauses;Falsely identifying loans as lines of credit or open ended mortgages;Forced placed homeowners insurance (lender falsely claims that homeowner does not have insurance and then gets an undisclosed commission for selling it to them);Repeated refinancing (flipping);Daily interest when payments are late;Excessive prepayment penalties;Foreclosure abuses; andHome improvement scams.A range of state and federal law of laws are available to help attorneys address dismantle the harm wrought by predatory lending practices.
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3 April 2016 | 1 reply
Has anyone built a 2-3 page executive summary for your properties that has basic info such as: purchase price, ARV, lender, principal balance, tenant contact info, monthly rent/unit, insurance info, photos, etc?
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14 April 2016 | 13 replies
Get the balance to zero.Keep paying on your home.