All Forum Posts by: Bruce Dashiell Kallaher

Personally I’d bail out on the investment.  The builder is in default and wants you to pay for it… bail and start fresh.  Lumber prices are stabilizing now and will be back to normal pricing soon enough.  

Www.forsalebyowner.com is great.  I’ve used it before and saved thousands.  But I would definitely consider a local agent if you are not able to sit and show the house yourself.  It’s a tough job and that’s why they are special people.  

Ask the lender if they can extend the rate lock.  You might get lucky.  

The appraisal company should have a way to help you with that.  Question: Was it the lender who cut the appraisal or was it the actual appraisal that is way off?
But honestly its easier to just get another appraisal done.  Most lenders have their own 3rd party appraisal company do the appraisal.  

There are 30 year products out there but you're still maxed at 75% LTV for a Duplex. 25% down plus the broker and lender closing costs is the norm. Check with the local credit unions in the area your interested in purchasing for help on a conventional mortgage. If you need help on the 30 year have your broker contact me.

Its not uncommon for an underwriter to request this.