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Financing in Glendale : Real Estate Advice

  • All290
  • Local Info41
  • Home Buying83
  • Home Selling11
  • Market Conditions2

Activity 17
Thu Oct 15, 2015
Pportoff answered:
Just got one deal funded and in the process of refinancing two more properties with LendingHome Funding Corp.

1-855 408-7694
2 votes 5 answers Share Flag
Mon Nov 10, 2014
Jean-Leon Magnotto answered:
0 votes 7 answers Share Flag
Wed Jun 4, 2014
Jennie Miller, Pllc answered:
Sat Oct 12, 2013
Bianca Bennett answered:
I work with a few great loan officers, please let me know if you would like their contact information.
0 votes 3 answers Share Flag
Sun Apr 29, 2012
Sue Pullen answered:
I will check tomorrow to see if there are any lenders who will allow more than 10 financed properties. I will let you know. Thanks!
0 votes 3 answers Share Flag
Fri Jun 10, 2011
Laura Burns DeNigris answered:
You are correct if we are able to, this would be our primary residence and we would rent out our current home. We have been current on all payments after the modification, although it is a little different because previously we were on a plan where our mortgage company took payments automatically every 2 weeks, they cannot do this anymore, they can only take it out monthly. In any case we have been making our payments on time. ... more
0 votes 9 answers Share Flag
Wed Nov 24, 2010
Jeff Star answered:
This is so simple all your husband needs to do is sign a "disclaimer deed". The only thing I think of why they they're telling you this is because you can't qualify for the loan on your income alone. Maybe the finance company isn't telling you everything or maybe they're just no good. There are a lot of bad lenders out there.

Jeff Star
... more
0 votes 7 answers Share Flag
Sat Feb 13, 2010
Hannah Fliegel answered:
Hi Julia,

If your loan was a purchase loan in Az and your lender forecloses by deed of trust you are probably ok to get right back into home ownership. However, if you have a recourse loan then your lender may have the legal right to pursue you for the difference after the foreclosure. You need to see how your lender is going to foreclose on you.

Also, with seller financing, this is a great option but sometimes your credit is considered with the seller financing. Rent to own is another option.

I would suggest first determining if your lender has any legal recourse against you. Once you shake that debt or are in the clear you can move forward with your rent to own or seller financing.

I wrote an e-book on this subject and I can email over to you if you would like. It's a quick read and free of course. Let me know. Meanwhile here is an on-line video that might assist you with your recourse or non-recourse loan answers. Good luck!

Hannah Fliegel
... more
0 votes 2 answers Share Flag
Tue Dec 8, 2009
William Polack answered:
If the fha case number (a number given to each property through HUD) was pulled prior to the change (effective 11/17 for some lenders and 11/16 for others), they fall under the old fha streamline guidelines which allow the closing costs to be rolled into the original note amount (the amount found on the copy of your NOTE). If they failed to pull the case number prior to that date or you called them on the 16th at 9pm EST, this is the fault of the loan officer for not doing his/her homework and realize that the new rules requires the borrower to pay all closing costs out of pocket unless an appraisal is done. I do agree with Mr. Canto that this is out of their control, but they should have known better and been prepared for the new changes. Here's what you need to do if you can't get an appraisal for reasons of value: First, did you try to get refinanced with a different bank before you went to this company? If so, did you go pretty far in the process? If so, you're FHA case number may fall into the old rules and you stay with what was originally offered to you. If not, you have two choices: Bring the equivelant of one mortgage payment to closing (to cover closing costs - since you'd have to make a payment even if you cancelled), and have the broker/lender, broker credit the rest. If they need to increase the rate to cover those fees, check with another lender and see what rate they'd offer you. If it's better, tell the first company you are walking away. They may change their tune. If you walk away, you'll need to write a letter to lender one requesting to have your fha case number transferred. (you'll need lender#2- lender number for the transfer). ... more
0 votes 3 answers Share Flag
Tue Sep 8, 2009
Cindy Sutton answered:
Hi Just Looking,

Have you given this company a call to see what their terms are and why they are over pricing their properties? You could get yourself into a really bad situation by purchasing a property for more than it would appraise for. What happens if you need to sell it in the near future for reasons unexpected? You’ll be forced to come up with cash or have to sell it short, or worse yet a foreclosure and then your credit is ruined for several years.

When a purchase is right for you it will not give you these feelings of doubt. Keep up what you are doing by educating yourself so you can make good decisions regarding your finances. There are a lot of sellers in this market that are willing to offer seller financing to a buyer, but you’ll need to be flexible on your requirements. Please remember – just because everyone says it’s the perfect time to buy doesn’t mean that it’s the perfect time for you to buy.

Cindy Sutton
... more
0 votes 10 answers Share Flag
Sun Aug 9, 2009
David Chamberlain answered:
Va loans also, you can look at my blog. It describes some of the financing options:
0 votes 6 answers Share Flag
Thu Aug 6, 2009
Andrea Rodriguez answered:
Hi, this is Andrea. I want to thank all of you that answered my question. The information was great and my husband and I have been discussing the several options you mentioned. It is a real help for people like us to be able to get opinions and advise from professionals. I'll keep you informed on our progress. ... more
0 votes 7 answers Share Flag
Wed Aug 5, 2009
Daneen Jacquot answered:
Have you thought about doing a contract for deed on a home and you can still receive the 8,000 tax credit?? It is a great option and will give you time to build your credit.


Daneen Jacquot
... more
0 votes 8 answers Share Flag
Mon Aug 3, 2009
Brian Cardenas answered:
Hi Phil -
Tony's answer is right on. I would just add that you'll need good equity in the property you just rented out that currently has the FHA loan because you will be refinancing it as an investment property and the LTVs are much lower. Additionally, there are a few specific circumstances where you can have a second FHA loan outstanding - i.e job transfer to a different location, change in family size, etc. It's best to talk to an experienced mortgage broker to find out about your specific circumstances. Let me know if I can help!

Brian Cardenas
President / Mortgage Consultant
Antigua Capital Funding
... more
0 votes 3 answers Share Flag
Thu Jun 25, 2009
Tony Valdez answered:

Unfortunately for many, divorce is a time of great financial hardship and credit challenges. Because you are obligated on the mortgage until it is paid in full or refinanced, it is imperative that the person responsible for the payment remains current. One possibility you have to remove your name from obligation is to contact the company which currently holds your mortgage, and ask to do a “Qualifying Name Delete Assumption.”

A "name delete assumption" is done when one party or the other on a mortgage loan wants to be removed, but the remaining party really does not want to refinance, perhaps because of fees, rate or in your case property value. If the remaining party can be proven to qualify on their own, the other party can be "deleted" from obligation, but the loan stays exactly as is and the costs are minimal.

This process will leave the existing loan in place, but would relieve the non-occupying spouse from their obligation on the loan. Give us a call, and we can explain more about this process.

... more
0 votes 5 answers Share Flag
Mon Sep 15, 2008
Luke Allison answered:
Did you see rates today? You can get 5.375 on a 30-year fixed today. Could be better tomorrow. Good Luck. Call me if you have questions.
Luke Allison
Flagstar Bank
828-777-8828 ... more
0 votes 4 answers Share Flag
Wed Jan 16, 2008
Brad Bergamini answered:
Is your over spending due to adjusting rates in your mortgage or just over spending? Your mortgage and or equity (lack thereof) is not a bank account. If you have an adjustable rate you can discuses this with the bank “workout department”. Let them know there is no way you can keep up the payments at this rate and you might find someone willing to lengthen your term i.e. 30 to 40 yrs or you might be able to skip a month. Just keep in mind that banks are in the business to make money. ... more
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