Rental Property Investor · Wayne, NJ · Member since 2015 · 26 posts · 3 votes
Hey looking for a mortgage broker who knows the deal when it comes to REI, creative financing, the work arounds on how to avoid the traditional 20-25% down and any other loop holes there may be out there.
I'm trying to get my second home I currently live in a small 2 fam, I plan on upgrading to a larger two family now that the kids have outgrown sharing a room. I know i should be able to get a 2nd FHA loan under this condition but what happens to the 1st home (any penalties?) and how will i get myself into the 3rd property which i plan on obtaining shortly after, can i keep upgrading and keep the older properties at the same time, when does that plan run out? I'm just clueless when it comes to getting creative i need a guy or gal who knows the ropes and is willing to help my situation. Please Refer!
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
10y
@Jasmine Cotes you can find all sorts of these mortgage brokers at CLUB FED IE in jail
what your asking people to do is mortgage fraud and any lender worth his salt would not give you the time of day. but lets see what others think there are always crooks out there that are happy to scam the system like you want to do
Newark, NJ · Member since 2015 · 162 posts · 102 votes
10y
@Jerry Padilla It's really awesome to have someone with your knowledge engaging so generously in these forums. I've read several of your posts, and I always learn or understand something better. Thank you!