All Forum Posts by: Norberto Ballesteros

I'll try to make this one!

Thanks! Bump for more responses.

I failed to mention they are interested in 2-4 family units. Thanks!

Hello everyone, I am seeking referrals for an investor friendly Realtor and or Brokerage in the Bryan College Station area. I have a well qualified friend ready to invest in the area. Please respond to the post, or send me a message directly. Thanks!

Borrow some money from a friend, 4k signature loan from a bank or CU, credit card advance, Lending Club. You've got a lot of options at that price point.

@Andrew Postell thank you for the insight. The disclosure aspect is what I was really wondering about. The way Dodd-Frank is, this seemed like it could be construed as some sort of misrepresentation. I was particularly interested in the liability of the RMLO in this scenario. Thank you for the clarification!

In the course of discussion with a RE Broker, the broker stated that they advised all of their clients to request their RMLO charge their origination fee as a discount point.

The intent is to capture the tax write off of a discount point. The broker claimed some RMLO's have obliged the request. 

I was under the impression that a discount point could only be used to reduce the interest rate.

In the context of a residential, primary residence, fha/conforming conventional loan, does this violate any of the alphabet soup of Regulations?

Print a bank statement?

 Check with your plan sponsor but if you take a loan from your 401k you may not be able to contribute new funds until it is paid back. Therefore you would lose your employer match, this is free money.

You are paying back your loan with after-tax earnings, which doesn't lower your annual taxable income the way regular 401k contributions do.

You ARE double taxed on the interest payments you make. Obviously the balance loaned is not.

The notion of "paying yourself interest" is a fallacy. You are not creating free money by paying yourself back. You are picking your own pocket. There is no return.

Depending on your investment selection, you are forfeiting 25k worth of money that have dividends tied to it.

I hope you have a solid deal.

@David M.undefined

They float on the prime index rate, you can get them secured or unsecured. Lots of options from lots of different banks, do a Google search.