Lisa L.
Should I use HELOC now?
I’m under contract with an off-market deal which will close in 2 weeks. The price is $230K and it’s a cash purchase. After purchase rehab cost is about $15K.I have enough cash in savings or I can use a HELOC to purcha...
John Pitts
Fannie Mae cancellation problem
Newbie alert!I am trying to purchase my second home that is a single family REO through Fannie Mae. I offered their asking price and they accepted so we are in an active contract. I am not a realtor and have limited...
Paul Vaughan
EMD deposited in escrow- after I called/text “I’m cancelling”
Hello BP people,
I’m juststarting out, Found a house for rehab (Carson Ca). In short, made an offer based on comps yet to be seen physically. I did hand over the EMD with the understanding that I’m going to view the ...
Sam M.
Is there any reason not to pursue a SS where others have tried?
I just spent an hour talking with an owner 2 months from foreclosure. They have had 2 people try to work their SS magic to no avail. I believe the last one was another investor in the area and the owner shut it down...
Paul O'Connor
Flood insurance can't be canceled and pro-rated? Is that right?
Ok... so I posted a week ago about some refinances where I couldn't make the numbers work, because flood insurance quotes are just too high and ridiculous. Well, I ended up getting flood insurance on one of my propert...
Shannon Green
How to handle reservations when a hurricane is coming
New to managing our STR that is 1/2 block from the beach. We got through a tropical storm with a renter; everything was great and they had a great time. Ended up with moderate to great weather and received an amazin...
John Asher
Being asked to provide proof of rental payments for DSCR loan
I am applying for a DSCR loan and am now a renter myself. I’m being asked to provide 12 months of cancelled checks in addition to a lease to prove that I’m renting. Providing a copy of the lease makes sense but havin...
Denise S.
HOA Foreclosure Auction Did Not Meet County Requirements
Hi all, Newbie here, trying to figure out what to do with a bid that was cancelled at the last minute. It's an HOA Foreclosure that has a clean title otherwise. At the last minute, the auction was cancelled because "i...
Timothy Rogers
Do you pay taxes on a shortsale?
Hello,
My wife's co-worker has a home in Savannah, Georgia that is upside down. She owes 45K, but property is worth less. She lives in Dallas and was renting the property out. The tenants moved out and squatters move...
Neetu Patil
About home insurance for rental property
Hi,When I bought a home I purchased home insurance from Stillwater insurance company. After purchasing done they did inspection without letting us as we were not there they did not able to check backside of house beca...