I am looking for someone who would like to make some money by financing me for a home,and selling it to me on a land contract.I have 4 to 5 thousand to put down.I am not willing to work with any mortgage company or bank.Please contact me asap at [email protected] if you think you would like to assist me.I will be glad to chat with you any time!!
Jan 012012
When my lender goes to sell my loan to another company so that they may gain more capital to lend more money. This first right of refusal gives me 30 days, upon being notified by the lender that they are interested in selling my loan at a discounted price, to find the financing to purchase the loan from the lender. Its been done but I just can’t find the freakin form I need or a lawyer that is aware of this advatage.
Dec 292011
If I am in the process of trying to obtain FHA financing and my current nursing job of over 2 years is starting to make budget cuts and has recently cut back a lot of our hours. They are talking possibly making more cuts here soon. I was just offered a great job with great pay at another company and I am feeling as if I am going to have to accept the position d/t the possibility of facing lay offs. Will the mortgage lending co I am currently working with show some leniency on a job change based on the circumstances? (more money and possibility of losing too many hours or my job all together!!!)
Hi Everyone.
I have a substantial amount of equity in one of my homes, and am looking to purchase a second home sometime in the summer. I do not have money for a down payment, however, I do have more than enough for closing costs. I was wondering if it would be advantageous to take out equity on the one home for the 20% down payment on the second home. Do mortgage companies frown upon this action, or is it encouraged? Would I get advantageous interest rates in this case, or similar rates as to doing 100% financing? Just so you know, the home I am looking to purchase is a duplex, however, it will be a primary residence. I know interest rates are generally higher for duplexes. Just a thought I had, wanted to know if it would be worthwhile to leverage the one homes equity to purchase the new home.
Thanks!
Hi,
I’ve checked income levels, and we (to be more specific, the loan will be between me and my brother) will qualify for the loan at a 7% rate (assuming 28% front load). Also, when I say substantial amount of equity, I mean 100%, I own the home outright, and the down payment won’t come close to the 80% mark (more like 40%). Would it be better to get the loan on my current home before I finance? Or should I go to the lender, and ask them to evauluate both options.
Thanks for all of your help! Now I just have to sell the idea to my brother (he is a co-owner of the one home).
Dec 292011
My Mom sold a house and gave the buyers “owner financing”. She went through and attorney and all the documents are kosher with the law, etc. The people have a history of bad credit and pay her monthly, albeit being late a few times. My Mom wants the cash up front and has received a few notices from “mortgage buying companies” who “can buy the loan, and pay her up front”. They want to offer her a significantly lower payment than what she sold the property for, but they want her to “send the deed to them then they will wire the money back”. I have a terrible discernment about the whole thing and she is wondering if they are a scam and if she should go through with it. Any one know?
Dec 262011
I have really bad credit and no money to put down. But isn’t there anyway or company that would finance me?
Dec 252011
9-15-08
Bank of America, Wells Fargo, Washington mutual? A lot of the finance companies are crashing down due to mortgages and housing market… So in today’s economic times, which bank do you think is actually safe and also reliable that the bank won’t go bankrupt?
My husband and I bought a house and we take posession before the deal on our house closes. There is a week inbetween and we were told we needed interm financing or a bridge mortgage to make up the different between the sale of our house and the posession of our new house. The mortage company made a huge mistake and didn’t calculate our bridge financing into our mortgage and because it was left to the last minute, we had to literally put together $ 17,000 in a matter of 4 hours or we risked loosing our new house and the $ 25,000 deposit we put on it. Because we didn’t have the money (who DOES after just buying a $ 461,000 house?) we had to borrow from our line of creit and even had to ask my mom for money. Now we are $ 17,000 in the hole. My question is how much does it cost to re-finance a mortage and what is the penalty for that? Is there any way we can take that $ 17,000 out of our mortgage so we can pay everyone back?
Also, we are Canadian, not American.