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About Me
I'm a Certified Mortgage Planning Specialist, a mortgage loan professional for over 20 years originating loans throughout this wonderful country. I'm considered an expert because of my mortgage insights and knowledge of credit, accounting, taxation and financial planning. People are my passion. My client is number one, not me.
I'm also a Licensed Real Estate Broker in New York State. I do not list or sell houses. I feel it is important for someone in my profession to know all aspects of the real estate industry. As a graduate engineer, I am involved with construction and rehabilitation loans (FHA203K) so that future homeowners can puchase homes that need that extra work to make the house their "dream home". This program is not for investors. I work with many client purchases of HUD and other bank owned properties where renovations are required.
I've also compiled a booklet on "How to Prevent Identity Theft and the Legal Ways to Improve Your Credit Score".
I have researched and compiled a booklet on "How to Prevent Identity Theft and the Legal Ways to Improve Your Credit Score".
I'm employed by Continental Home Loans Inc. , a mortgage bank headquarted in Melville NY. We have one of the best ratings on the Neighborhood Watch List.
I'm also a Licensed Real Estate Broker in New York State. I do not list or sell houses. I feel it is important for someone in my profession to know all aspects of the real estate industry. As a graduate engineer, I am involved with construction and rehabilitation loans (FHA203K) so that future homeowners can puchase homes that need that extra work to make the house their "dream home". This program is not for investors. I work with many client purchases of HUD and other bank owned properties where renovations are required.
I've also compiled a booklet on "How to Prevent Identity Theft and the Legal Ways to Improve Your Credit Score".
I have researched and compiled a booklet on "How to Prevent Identity Theft and the Legal Ways to Improve Your Credit Score".
I'm employed by Continental Home Loans Inc. , a mortgage bank headquarted in Melville NY. We have one of the best ratings on the Neighborhood Watch List.
Testimonials
"Dear Chris,
We wanted to send you a note to thank you for all your help and patience while working with us. You were always available, understanding and helpful. The last few months trying to clear our credit was a nightmare, but you were always the one bright spot. Thank you again for all your help - you went above and beyond for us and we truly appreciate it."
Ann and Vinnie P. Sun Jul 15, 2007
Ann and Vinnie P. Sun Jul 15, 2007
My Q&A
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Chris L. Chr…'s Questions (0)
Chris L. Chr…'s Answers (23)
Chris L. Christie answered:
Hi Buyer,
The answer to your question must be delineated in your purchase contract. Check with your attorney.
If not spelled out in the contract, ask your attorney to request a copy from the Coop's managing agent. They should have a copy from the seller's purchase file.
The managing agent generally has the ability to prepare a new lease for your puchase which may eliminate the need for the sellers lease. Your attorney can quickly review and approve before your grace period expires.
Good luck,
Chris
The answer to your question must be delineated in your purchase contract. Check with your attorney.
If not spelled out in the contract, ask your attorney to request a copy from the Coop's managing agent. They should have a copy from the seller's purchase file.
The managing agent generally has the ability to prepare a new lease for your puchase which may eliminate the need for the sellers lease. Your attorney can quickly review and approve before your grace period expires.
Good luck,
Chris
Chris L. Christie answered:
Caroline,
Please fill in the details for your question. Are you requesting information about the mortgage you wish to obtain? For instance a SONYMA loan? Are you discussing property management requirements?
Please fill in the details for your question. Are you requesting information about the mortgage you wish to obtain? For instance a SONYMA loan? Are you discussing property management requirements?
Chris L. Christie answered:
Eli,
The tips you received from the prior respodants were good. There are several forms besides the HUD1 that are required. Phil Tesoriero is an expert in this field. He has made a living handling foreclosures and short sales for many years. He teaches realtors in NY and around the country the proper techniques to use. Go to his website http://www.TheBigForeclosureSecret.Com. After you are familiar with the site, you may ask your Realtor to do the same. Good luck.
The tips you received from the prior respodants were good. There are several forms besides the HUD1 that are required. Phil Tesoriero is an expert in this field. He has made a living handling foreclosures and short sales for many years. He teaches realtors in NY and around the country the proper techniques to use. Go to his website http://www.TheBigForeclosureSecret.Com. After you are familiar with the site, you may ask your Realtor to do the same. Good luck.
Chris L. Christie answered:
Jacqueline,
If you cannot continue to carry both for too long, quickly determine which property that you can afford to carry.
Not knowing your financial situation it is impossible for any of us to assist you with that decision. Personally, I am a Certified Mortgage Planning Specialist and that is what I do for a living. If you are interested in discussing this in detail, please email me at chriscmps@gmail.com and we can review your circumstances.
If you cannot continue to carry both for too long, quickly determine which property that you can afford to carry.
Not knowing your financial situation it is impossible for any of us to assist you with that decision. Personally, I am a Certified Mortgage Planning Specialist and that is what I do for a living. If you are interested in discussing this in detail, please email me at chriscmps@gmail.com and we can review your circumstances.
Chris L. Christie answered:
Jennifer,
The renovations for capital improvements must be fully documented. Contractors bills for the renovation supported by proof of payment are generally required. Dated photos of the before and after are important. With this documentaion, upon sale you will then demonstrate that the "cost basis" of the property to include the purchase price plus renovations.
To the cost basis, you cannot add a paint job or replacement of an item that wears under normal use.
To compute your profit, simply subtract the renovation cost from the sales price. If you make a large profit, its good for you and the city.
As a point of interest, I've never seen a $100k renovation ever cost $100k. It is often 20-50% higher than the original estimate. Good luck and keep in touch.
The renovations for capital improvements must be fully documented. Contractors bills for the renovation supported by proof of payment are generally required. Dated photos of the before and after are important. With this documentaion, upon sale you will then demonstrate that the "cost basis" of the property to include the purchase price plus renovations.
To the cost basis, you cannot add a paint job or replacement of an item that wears under normal use.
To compute your profit, simply subtract the renovation cost from the sales price. If you make a large profit, its good for you and the city.
As a point of interest, I've never seen a $100k renovation ever cost $100k. It is often 20-50% higher than the original estimate. Good luck and keep in touch.
My Blog Posts
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Specialties
Conventional, FHA, VA and SONYMA Mortgage Loans.
Renovation, 203K and Construction Loans
Reverse Mortgages for Home Owners 62 years or older.
Commercial Loans, Office, Retail, Distribution/Warehouse
Renovation, 203K and Construction Loans
Reverse Mortgages for Home Owners 62 years or older.
Commercial Loans, Office, Retail, Distribution/Warehouse
Certifications & Awards
Certified Mortgage Planning Specialist
Licensed New York State Loan Originator. Also Licensed in NJ, CT and FL.
Licensed New York State Real Estate Broker
AAS, BS and MS in Industrial Engineering
Licensed New York State Loan Originator. Also Licensed in NJ, CT and FL.
Licensed New York State Real Estate Broker
AAS, BS and MS in Industrial Engineering
Interests
Our family is the most important interest to me and my wife.
Former Board Member of American Cancer Society, Boy Scouts of America-Suffolk County Council, American Kidney Fund and other charities.
Golf is my sport. Former volunteer chairman for several professional SrPGA, USGA, LPGA and Charity events.
Woodworking is my hobby.
Former Board Member of American Cancer Society, Boy Scouts of America-Suffolk County Council, American Kidney Fund and other charities.
Golf is my sport. Former volunteer chairman for several professional SrPGA, USGA, LPGA and Charity events.
Woodworking is my hobby.
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