In a nutshell, it will be much more difficult to get approved for a loan, and fewer choices.There are countless sources for the details of this reform, and it's rather wide-sweeping, but here's a summary of how it affects mortgages:http://www.quickenloans.com/blog/new-qualified-mortgage-rules-effect

You can do this by buying the house for cash at $130k or by buying the house subject to and helping the owner find a lender that will approve his new house loan with the current loan still in his name.

so make sure to ask when the leases are up.Personally, I would get pre-approved before seeing it.

For instance, one of our investor deals requires us to produce up to ten rehabs, fully tenant ready, Section 8 approved and tenanted every 30 days.

According to mortgage business development manager for Security National, “In over 25 years of doing loans, I’ve never seen so many hurdles in the loan approval process.

Maybe someone will solve that with video conferences.The best way to get started in RE is to take the time to learn the basics, generally what is required for a real estate agent, that can be had by certified teachers, under state approved curriculum, you don't need to be an agent but you should know the same basics.

Examples are:green water in poolbars on windowsno flooringno heat sourceevidence of leaksmolddry-rot or evidence of termitesfalling down fencesmissing doorsholes in wallswater stains on ceilings (requires roof cert)there's more...These are what a underwriter put as conditions on a conventional 4 unit approval I received today.9.

He did say I can use gifted funds, which is a relief because the deal will fall through otherwise.My main question is this: why does the FHA require reserves on 3 & 4 unit properties if they've already approved me, based on income, for PITI that I can afford on my own?

It is in Torrington.The attached lot is zoned and approved as a building lot, however I currently have a paved 6-car driveway on it for off-street parking.I get rid of it, they park on the street.

Bill you open your mouth again show a case law where it is against the law to submit an honest application and then when the banks approve a worker who works for Popeye's chicken for a home loan knowing this person cannot afford a loan.