All Forum Posts by: Frank Agyeman-Duah

@Joe Splitrock

Well noted.

@Curtis Mears Thanks

@Aaron Barber

I had lived in the property for a year, per FHA loan requirements. I refinanced it into a conventional loan with the ideal of getting another FHA.

@Aaron Barber

I will need to come out of pocket of about $50K to do that. I’m unable to raise that amount now.

@David Kelly

I will greatly appreciate it. Thanks

@Matt Devincenzo

The new loan will be owner occupied. The refinance on my current home on date on 1/31/2022.

I recently refinanced my primary  home and switched it into a conventional loan after living there for a year.  I had also refinanced a prior house that I purchased in 2016 into a conventional loan.   I currently have a property under contract in Georgia. We're schedule to close on this loan on 3/10/2022. The lender just called to tell me that they are suspending my application because they realized I refinanced my property as an owner occupied and not an investment loan.  Lender wants me to convert the loan into an investment loan but I'm unable to raise the 25% down payment. I may lose my earnest money if this deal falls through. I need help asap to find another lender who can close this for me. Your suggestions are welcome.

@Casey Hoerth

This is very helpful. Thanks

@Linda S.

Thanks for your input.

@Greg Scott

The brankruptcy was filed in 2020. He has a 99% payment history. He has lived in his current address for 8 years. I’ve left a message for the property manager to get back to me.