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Financing in York : Real Estate Advice

  • All227
  • Local Info28
  • Home Buying61
  • Home Selling19
  • Market Conditions8

Activity 8
Mon May 16, 2016
Dillon Herman asked:
Looking for a no doc loan or line of credit of 20k-50k
0 votes 0 Answers Share Flag
Tue Jan 13, 2015
Tim Moore answered:
I do not think there is any difference in buying an investment as Joe Smith or and LLC as far as the loan goes. one does protect you better than the Joe Smith way should a problem occur. The LLC will cost you more to establish and maintain it. ... more
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Thu Oct 24, 2013
Lee Trite Garlin Tom Garlin answered:
I contacted a lender partner about your question and here is his response.

Unfortunately, we are not aware of any lenders who would exclude the payment history on an investment property when extending new credit. When a lender extends credit they have to take into consideration the entire picture. In addition, the credit score may be reflective of a mortgage in recent foreclosure status therefore possibly limiting the borrower from obtaining a loan based on credit score alone.

They would have to wait 3 years from the foreclosure deed transfer date to obtain a new loan.

Sorry I didn't have better news.
... more
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Wed Oct 19, 2011
Christine Hale answered:
You should call the appraiser and point out the discrepancy and try to get some sort of justification for the difference. Appraisers measure homes differently and I recently had the same situation with a home I had listed. We had it listed as a certain square footage and the buyer's appraiser measured and came up with a lesser number. Upon review we found that one appraiser counted the stairways in the square footage and the other one didn't and this added up when there were 2 stairways. I would suggest you find out why there's a difference especially since you have 2 previous appraisals that were the same measurement. As for the upgrades to the home, that will be difficult to argue since appraisals are so subjective to who's doing them. I hope this doesn't keep you from being able to refinance your home. Good luck! ... more
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Fri Nov 5, 2010
Gerard Dunn answered:
Unless you are going to be in the home for at least a few years longer - DO NOT refinance.

5 months? And you are pleased?

Do you really want to sell?

Lower the price to increase traffic and get it sold... The $500 bonus won't help if the home is overpriced. Based upon time on the market - the home IS overpriced.

Good Luck!
... more
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Thu Dec 18, 2008
Beth Masland answered:
Another option if you have a little cash you can throw into the deal is to put a bit more money "down" on the house - in other words you remortgage at a lower amount and payoff the old balance with the new mortgage plus some of your own funds. Just another option if you have any cash to put into the deal. This would also lower your mortgage payment by a bit more. Good luck. Let me know if you would like another lender to talk to about this, I have someone who I think works miracles! ... more
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