All Forum Posts by: Christopher S.

I own a billboard in TN. In TN the state beautification office handles the permitting of the boards.

They have very strict regulations on where one can go and what type and even what it has to be built from, and also what type of preoperty is neighboring the proposed site.

They can bring in anywhere from $300-$1500 a month in my area depending on location and size.

I have room to construct 2 more but I do not have the funds.

http://www.outdoorbillboard.com/

I am in Chattanooga about an hour and a half away.

What type of work are they needing done?

3 banks would not work with me is what I meant, there have been several with unfavorable terms (trust me I would not stop at 3 no's)

Also on my credit history it shows 4 payments on each account as late (120-180 days) cant remember now. I want my credit cleared and also the $5600 in fees taken off my account.

This has damaged my career and lost a job over trying to deal with the hassle.

I had two mortgages with Countrywide.

2 with Bank of America

2 with a local bank

(All loans Current & escrowed)

Bank of America takes over the 2 countrywide loans and asks me for the 2 payments I am behind then the next week I get a check for $2552 (exactly 4 payments) This was a refund of my payment to countrywide. Well just to clear things up and keep me out of an illegal foreclosure I western Union $3190 (per the BOA custumer service to cover the 4 plus the now current payment) then 2 weeks later I get a refund by way of wesern union and a letter saying payment denied!!!

That same week I start getting intent to accelerate letters and letters from an attorneys office in ATL.

Long story a bit shorter:
They have added $2600 in fees to each of these accounts that they say will site there the life of the loan and must be paid.

Keep in mind, my other 4 mortgages and these two WERE current as I have never made a late payment (not over 30 at least)

I have all paperwork and the western union where they refused payment.

My local branch manager finally straightened it all out but they will not remove the fees!

What do you suggest, If you have any questions feel free to ask. YES this is 100% true.

Another thing, I can refi one as my primary residence and then the other refi's would be investment and I cant find anywhere near 5%.

Nathan, Thanks for the reply, and I may be totally wrong but exactly how does the broker shop me around without making hard inquirys at each place?

Also is there any problems with the lending tree lenders?
I signed up there and theyve been calling me like crazy but hard to tell the good from the bad.

Refinancing each starting with highest interest was my plan but im finding it hard to refi them.

I've had 3 banks (local & chain) that 4 is the limit and im over that with 6.

My last loan came from a local bank which doesnt coform to those standards but interest was 7.875%

My total payments now are $3700/mo

I only bring in $5k/mo
(excluding my 40hr/wk job)

I have found a bank who offered 6.5 on $390k for 10-25yrs. which could get my payment around $2600/mo saving me $1000/mo

This is the first forum for real estate I have joined and look forward to posting more.

I am looking for a way to combine all my loans possibly into a commercial loan etc.

I would love to hear any suugesstions that you may have.

6 mortgages ($310k combined)
2 home equitys($55k combined)

2 Duplex's

3 Single Family Homes (soon to be 4)

14 raw acre land tract

1 Billboard on I-24

I owe roughly $365k and the appraised value as of 2010 was $540k.

My rates are 3.9% and 5.9% on the helocs and anywhere from 5.625%-7.875% on mortgages all on 30 yrs.

My credit scores range from 680-705

Should I try to lump all these into one loan? Or keep my lowest rates seperate and lump the others? I also have less than $8k in savings so I can't put down a huge amount.

Thanks in advance