David Noskiewicz
Veteran in need of Help!
I am a 30 year old Marine Corps. (9years) Veteran, I was quite embarrassed to start going to school a couple semesters ago, but after reading a couple books (of-course Mr. Turners, as well as Rich Dad:Poor Dad) I lit...
Glenn Gomba
FHA refinance & rent out home - Does it make sense?
Hello everyone, I'm trying to figure out what the best financial decision would be for refinancing / renting out our home and was hoping someone can help with some advice.My wife and I are purchased a townhouse in Aug...
Jonathan Valdes
Mortgage Denies my loan
Hey BP!!!So I’ve had this amazing duplex under contract since May 2019. All parties are ready to close. My lender is now telling me they will not give me the loan to purchase the house. Their reasoning behind is I “do...
Aaron Schwartz
Short sale on a Reverse Mortgage?
Is a short sale directly with a lender required on a property with a reverse mortgage? HUD website says that the heirs of the property with a reverse mortgage can sell at fair market value even with negative equity an...
Joanne Tsai
can no longer purchase umbrella insurance after 10 properties?
Hello BP fellow,
Recently my husband and I were told by our insurance agent that since we just reached our 10 properties, we will no longer be eligible for purchasing a conventional umbrella insurance shall we decide...
Elliott D.
Large insurance claims and your lenders involvement in your case
I need help understanding this idea that your lender will help you collect on insurance claims if you have a high outstanding loan balance.In this scenario, if you have a high loan balance on a property, and your prop...
Ryan Thomson
House Hacking Loan and Downpayment Options
One of the major considerations when buying a home is the down payment. A down payment is the amount of money you pay upfront when purchasing a home. It is a percentage of the home’s sale price, and the rest of the pa...
Nathan Faucett
House Hacking During My First Year in My Primary Residence
Hello All!
My wife and I recently purchased our very first home in North Carolina! Hurray! While it wasn't our initial intention, we realized that the 2700 SF home with a two bedroom basement was too much room for us...
Matt M.
What is escrow?
I know this is probably a terribly stupid question, but I was not pleased when I saw that escrow on a $96.5k loan was nearly the principle; like $3xx and change! Thats crazy!
So what exactly is escrow, and why do I ha...
Dustin Barr
Working on 1st Deal
Looking at picking up a single family home for rental. Foreclosure. Purchase price is looking to be in the $27,000-$29,000 Range. Roof is in need of replacement ($4-5,000) and could use some carpet replacement and ...