Financing in New Orleans : Advice

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Wayne E Clark, Real Estate Pro in New Orleans, LA
Wayne E Clark answered:
Financing both the new purchase and the renovations.
Daivd, there are some lenders who have other programs for you to consider. Regions Bank have a program to buy and renovate a property.There are others. You should also shop around for a ... more
0 votes Share Flag Wed Jan 9, 2013 Financing in New Orleans
Ian Coburn, Real Estate Pro in New Orleans, LA
Ian Coburn answered:
Will an underwriter approve a loan with some termite damage to the property but no evidence of active termites??
They probably will...generally you will need to have a termite certificate / or show the property is under contract anyway to get the loan. Unless there is some major structural damage ... more
0 votes Share Flag Tue Sep 27, 2011 Financing in 70119
Velvetradish, Home Buyer in Charlotte, NC
Velvetradish answered:
I am in the middle of a weird real estate deal.Cartus is selling the house. The lender says it is a flip, the title company says it is not.what to do?
Homeless Buyer,
The thing is that Cartus suggests using Bank of America or Wells Fargo, and we are using one of them! Do you happen to know who at Cartus manages the relationships be ... more
0 votes Share Flag Tue Apr 26, 2011 Financing in New Orleans
Corey Grushin, Real Estate Pro in Morris County, NJ
Corey Grushin answered:
I have a partially completed renovation that I need to borrow to finish. What is the best way to move forward?
Partial_i, FYI FHA guidelines state you can't do a 203k loan to finish work that has already been started. I originally stated you should try and finish the job using your credit ... more
0 votes Share Flag Fri Mar 18, 2011 Financing in New Orleans
Lisa Nelson, Real Estate Pro in Cordova, TN
Lisa Nelson answered:
what does the appraiser look for?
An appraiser looks to provide a report with a complete description of the property and an accurate and well supported estimate of the market value. In doing so , he or she looks for th ... more
0 votes Share Flag Sun Dec 5, 2010 Financing in New Orleans
Ian Coburn, Real Estate Pro in New Orleans, LA
Ian Coburn answered:
Income Property
This is very possible, for I have done it and helped others from as far away as Canada do the same. This is the approach:
1) We look at where you are now
2) We look at the cash flow ... more
0 votes Share Flag Fri Aug 6, 2010 Financing in New Orleans
Daniel, Other/Just Looking in Baton Rouge, LA
Daniel answered:
Can anyone help an investor?
if you actually have property worthy of bank collateral, why not go to a new orleans bank??
0 votes Share Flag Fri Aug 6, 2010 Financing in New Orleans
John Broussa…, Real Estate Pro in Houston, TX
John Broussard answered:
Any hardmoney lenders in New Orleans who lend on land?
I have a client who owns 2 lots free and clear in New Orleans and would like to pull cash out!
0 votes Share Flag Fri Feb 12, 2010 Financing in New Orleans
Joe Harris, Real Estate Pro in Melbourne, FL
Joe Harris answered:
Regarding B of A's loan modification plan referred to in your 9/4/09 blog: Do you have to be delinquent on your mortgage payments to qualify?
I believe that the Making Home Affordable program allows you to mod your loan without being delinquent. However, there are thousands of low level employees answering the phones at the ... more
0 votes Share Flag Mon Oct 26, 2009 Financing in New Orleans
Ian Coburn, Real Estate Pro in New Orleans, LA
Ian Coburn answered:
I paid for an inspection, appraisal and a deposit on the property I was trying to buy. All the fees together
WIthout details, it is hard to know...but sounds like you should have had a Buyer's Agent
0 votes Share Flag Tue Aug 4, 2009 Financing in New Orleans
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
So I had the issue with my underwriter about not working a 40 hr. work week as law school/ph.d student which
Hi Angela,

I remember your situation....and am glad to hear things are now heading in the right direction. Let's hope the underwriter has a heart and knows what to do with it.

Tha ... more
0 votes Share Flag Tue Jul 21, 2009 Financing in New Orleans
Michael Hump…, Real Estate Pro in Winchester, VA
Michael Humphreys answered:
I was told I needed to work or at least be guranteed 40 hours a week before the underwriter would approve my
You should be able to get around that with a verification from your employeer stating that your job is secure. It may also depend on how long you have been at that job, if you just st ... more
0 votes Share Flag Sun Jul 19, 2009 Financing in New Orleans
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