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Posts Tagged ‘property’

Looking to buy investment property – any lender reccommednations?

03 Apr

Now that half my neighborhood is forclosed, I would like to pick up a few bargains for investment purposes. In order to capitalize on the opportunity, I would like to put as little down as possible so I can use my cash for more properties. I was told that you have to have a score in the 800’s to get a low-down investor mortgage. Well, just so happens my credit score is in the mid-high 800’s. That means I am eligible for 5% or 10% down investor loans at decent interest rate – my question is – who does these kinds of loans. I heard Chase does. Any others. No brokers please. Thanks!
Dear Troll….Copied directly from my credit score monitoring service:

Your credit score is based on information from your 3 Bureau Merged credit report. The higher your score is, the better chance you have of getting the credit you apply for.

Your credit score from your
Equifax credit report is 860 on a scale of 150-930
Experian credit report is 854 on a scale of 150-930
TransUnion credit report is 838 on a scale of 150-930

So, if you don’t like it… Take it up with equifax Moron….

 
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can a person take out a 2nd mortgage on their home to purchase an investment property?

02 Apr

and without out of pocket money?

 
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Does my property qualify for the NACA home saver program?

02 Apr

The deed of the property is in my name and my parents but the loan is under my parents name only. For my parents, this is their second/investment property but for myself, it’s my only.

 
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Should I take money out of my 401K to catch up a mortgage on an investment property?

02 Apr

I had lost my job and found another job in another state. We found renters for our house but have had to use their rent for the last couple months to live off of because we depleted our savings trying to stay up on the mortgage. Their rent is about $100 short of the payment, when you factor in property taxes about $450 short. We have eliminated expenses and lowered our monthly bills over the last several months. The thought is refinancing our now investment property to try and get a positive cash flow. The alternative will more than likely be us ending up foreclosing on it or a short sell, because of our current financial situation. We are currently 3 months behind.

Or does it make more sense to cut our losses and take the hit on our credit? We are currently renting and would like at some point get into another mortgage so we don’t feel like we are throwing away our money to someone else. But we can stay renters in our current house for as long as we may need to.

 
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How do I protect my interests purchasing an investment property with co-owner?

02 Apr

We have decided to purchase an investment property & be co-owners with my boyfriend so we can split the profits upon selling it after 1yr. What legal steps do I need to take to ensure my interests are protected? The mortgage will be under my name. The plan is for him to lease the property for 1 year & make monthly payments that will cover the mortgage. I will continue to rent. We will both contribute equally towards upgrades needed for the house to sell after 1 year. How should he be listed on the title? should the interest be 50/50? What additional legal documentation would be needed incase we decide to split. I realize as the loan will be under my name I will be solely responsible. How can I ensure I can sell the property if I need to if he ceases to rent & I decide not to move in to the property, can I remove his name from the title? How would I need to set this up to begin with to allow for such flexibility. I haven’t closed the deal as yet but will be doing so soon.

 
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What can I do if an individual won’t release a paid in full mortgage on my property?

02 Apr

We own an investment property. We obtained a loan from an individual 5 years ago to start our own business in which the individual used our investment property as collateral and filed a 2nd mortgage on it. We paid the 2nd mortgage off in full 9 months after obtaining the loan, and the individual refuses to file the release of mortgage, there are no other penalties owed to him etc. He is also the landlord on the commercial space we rent for our business, and he likes having the mortgage lien on the investment property as insurance he will get his rent every month. Rediculous! We are now trying to sell the investment property and he has caused us to lose one buyer because of the title issue, by some miracle we have another buyer, does anyone have any creative ideas other than a lawsuit in civil court? This guy is not a brainiac, but he does have a decent lawyer, everything he owns is in a trust and the mortgage was funded out of that trust. There just has to be a way to force this guy to do the right thing and stop using these mafia tactics to push us around. Help!

 
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Is it a good idea to buy investment property when the seller hold the mortgage?

01 Apr
 
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How can I buy an investment property?

01 Apr

I just bought a home with the VA. I want to buy another property a year from now. Can I use an FHA loan to buy it and rent out my VA property?

 
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Who will finance an investment property with stated income and 708 fico score???

01 Apr

need 100% financing….
100% financing – lowest rate possible!!

 
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Anyone have any experience buying a duplex as an investment property and used the rent $$ to pay the mortgage?

31 Mar

any good resources for this type of investing and becoming a landlord. where is a good place to learn about leases and the responsibilities of a land lord. Any good resources on ivesting in property would also be helpful.

 
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can you get a FHA loan for investment property?

31 Mar
 
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What losses can be deducted to offset a 1099-C for an investment property?

31 Mar

I own this home since feb/06. Will I be able to deduct mortgage interest, taxes,maintenance and other expenses to any income I have to report (1099-C)? What about the downpayment I walked away from. In my case I put down 20k. My loan balance is $172K and properties in area are appraising for $172K-$177k. I purchased for $192k. I ‘ve paid about 23K in interest only payments and other expenses in my attempt to try and sell and not ruin my credit. But I’m at the end of my rope. I would like to understand all the financial consequences of doing this “deed in lieu” beside of course ruining my credit. Thanks
Sorry. The downpayment is for this house not another. Haven’t walk away from it yet.

 
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I am upside down on my investment property and I cannot rent it for what the mortgage payment is. what to do?

31 Mar

I am also in financial hardship and am in high credit card debt. What should I do? Die trying to hold onto a house to keep my credit score decent or just let it go?

 
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Help please i cant make payments on my investment property anymore what should i do?

31 Mar

Hello i’ve lost a lot of money recently and i cant make payments on my ocean property. theres still 600k dollars left on the loan the condo is worth 550k dollars now. does anyone have a solution that can save my credit?

 
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What is the best type of loan to get when buying an investment property to flip? And what do they offer in Tex

30 Mar
 
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