Sad commentary on our national malaise.

Hey BP Nation,My wife and I are set on the idea of making our current residence a rental and purchasing a long term home for ourselves with a mother-in-law that would help cover the mortgage.I'm curious what everyone's opinions are regarding the pros and cons of making the mother-in-law a typical basement rental vs trying to Airbnb the space.

Hello BP nation.

Island nations?

In fact, the city just regained control of its school board — the state took it over for more than 2 decades due to a combination of ineptitude and corruption.That said Newark has some stellar charter schools and a few exceptional public schools that have earned national blue ribbon denominations.

I have called and interviewed over 30 hard money lenders because it is a free resource adn I wanted a good idea of the national landscape. 

Commercial Capital Limited advertises foreign national loans. 

Is there any public transportation nearby?  

While two reps from the same firm will quote you the same rate, their ability to execute the loan can be night and day different.In regards to pros and cons ... think of the lending world as falling into 3 primary buckets: 1) traditional banks and credit unions (ie, Wells, BofA, Chase, etc), 2) mortgage banks (ie, Caliber, Quicken, Fairway, etc), and 3) mortgage brokers.Traditional Banks: (they do loans and hold deposits)Pros: because they tend to do such a large volume of loans, they are able to offer low rates ... they have the ability to do portfolio loansCons: very slow turn times - if you need to close quickly, they're generally unable to perform ... they tend to use national appraisal management companies and appraisal issues are common in competitive markets.Mortgage Banks: (they only do loans - no deposits)Pros: have the ability to close loans much faster - some of the local mortgage banks that we work with on purchases will routinely close loans in less than 14 days ... they often setup their own appraisal management companies and are able to improve the appraisal quality by ensuring the use of local appraisers.Cons: while they should be very competitive with their rates, they're not going to be the absolute lowest ... portfolio loans are generally not an option - they need to sell their loans right away so they can get that money back to lend it out again.Mortgage Brokers:Pros: they will have access to a bunch of different lenders and loan products, so they can submit your info to whichever one is offering the best terms at that moment.Cons: they have no control/influence over the underwriters or the timeframes ... they're generally forced to use national appraisal management companies, so appraisal issues are more commonHope this is helpful and good luck with the refi!

Aloha BP nation,Earlier I used social media sites to get recommendations for local contractors from local people.