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Financing in Honolulu : Real Estate Advice

  • All355
  • Local Info14
  • Home Buying84
  • Home Selling11
  • Market Conditions11

Activity 4
Fri Jun 15, 2012
Isabella Forster answered:
Depending if you have a full kitchen or not, this could be quite a challenge. We haven't seen financing for lodging units in the past few years, but it might come back. Best bet would be to talk to your existing mortgagor to see if they can lower the rate. If you have a full kitchen, there are a couple of banks in town that might consider a portfolio loan. Let me know if I can help you further. Aloha. ... more
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Tue Nov 1, 2011
Ralph Gray answered:
No he is not responsible for the loan, but the bank can foreclose on the property, since the lien is on the property.
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Fri Jun 15, 2012
Dp2 answered:
Your question isn't 100% clear. Although it's clear that you and at least another person jointly own this property, it's not clear why you'd like to refinance or why you'd want to do it with a portfolio lender. Stated another way, one would need to know more about your exit strategy/strategies to comment intelligently. ... more
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Thu Mar 18, 2010
Jane Grant answered:
In a transaction the Buyer and the Seller are the principals. A lender or bank making a loan to the buyer to purchase the property is considered a third party to a transaction.

Most Real Estate Transactions involve a "Third Party".

The only transactions that do not involve a third party would be where the Seller finances the property and the buyer makes payments directly to the seller also referred to Seller Cary-back.

OR

If the buyer is paying cash and needs no financing.
... more
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