Financing in 10940 : Advice

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Bill Smith, Real Estate Pro in 10950
Bill Smith answered:
2 References were made about hard money lenders. What do you mean? Thanks.
Typically Hard money lenders are looking for a 70/30 loan to value ration, charge 0-5 points, and charge 10-20% interest. Its usually used for rehabbing houses like they show on flip th ... more
0 votes Share Flag Wed Jul 28, 2010 Financing in 10940
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
We bought our house in 2007 with SONYMA assitance and low interest rate. Now we would like to refinance. What should we do?
If your interest is already low, it may not make sense to refinance--without knowing any details, your current interest rate, etc., do consult with your lender and or any qualified loa ... more
0 votes Share Flag Thu Jul 22, 2010 Financing in 10940
Judi Monday,…, Real Estate Pro in Green Valley, AZ
Judi Monday, CRS answered:
I plan to file for bankruptcy and was wondering if I foreclose on my house, will banks give me a loan to purchase another house if I put a large down
You may be able to find a seller to carry the note for you with a large down payment despite the foreclosure being on your record. Otherwise you will have to go with a hard money lende ... more
0 votes Share Flag Sat Jul 17, 2010 Financing in 10940
Peacful, Home Buyer in 10940
Peacful answered:
Quick question - Which is the better option? Paying closing costs vs. seller concessions/making a. larger down payment?
Thanks All! I've decided to go with option 2. I'm still debating whether to put the rest of the money into the down payment, or keep it in the IRA for 'emergencies'. ... more
0 votes Share Flag Wed Jan 13, 2010 Financing in 10940
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