Thanks Business purpose loans do not require NMLS numbers and are not considered "covered mortgages" by Dodd-Frank. 

Hello everyone i just got a call form a seller he's trying to sell his house 5br 3bt 2,550sqft fully rehabed looking fantastic everthing new from customtiles to appliance,He told me he's trying to get out of paying mortgage so he'swilling to sell at a lower price that he had it on the market for which is $238.900Dont know what to do or where to go since i still haven't done my first deal yet.. 

When it comes to refi, look for mortgage or small banks that will refi based on the asset, not your ability to repay the debt.

Mortgage fraud should not be a consideration.

My mortgage guys tell me they can't find any lenders that will accept a seller second to fund the down payment but I'm sure there has to be some options out here.

2nd piece is the house hack...We think best course of action would be to have an investor friend we know buy the house in cash, once we are done with renovations, we then take out a full mortgage on the house to cover whatever he paid for it and then pay him back with some interest.

They offer fix and flip loans and 30 year mortgages but the interest rates are significantly higher than with conventional loans. 

Typically, the loan mods that I've seen from the banks and hedge funds involve "deferred principal," and only modify the note and not the Deed of Trust or the Mortgage.  

List price: $155k  Zestimate: $160k Rental Estimates: $1000-1200Offer Strategy 1: Subject To (depending on what I find out about underlying debt, payment and willingness to keep mortgage in their name)Offer Strategy 2: Lease Option (with right to sublet)Offer Strategy 3: Wrap Mortgage (then after seasoning connect them with a note purchaser if the wrap could be setup in a marketable way where this works for the seller and note buyer)Thoughts?

Hey All,Can anyone recommend a good mortgage broker in the Louisville ky area?