All Forum Posts by: Account Closed

Hey Tim, give me a ring or shoot me a message in regards to any deal you have. I'm a broker, and I can find exactly what your looking for. Send me a message

Thank you

Due to a mistake that I made on paperwork [minor paperwork]...my brokerage decided to let me go and now my license is with the state [NY] until I find another broker or start my own...

I had 2 deals going prior to leaving broker...1 deal has been closed since 4weeks and 1 closes this week...I asked for the commission check via Email with cc'd attorney. Broker has not responded..

? - Can he keep the check(s) and not pay me at all?

? - Can he stop me from becoming an agent with another broker/starting my own?

Not too many lenders out here...I have a couple guys working on submitting the deal...The duplex actually appraised for $300,000...so this should be a no brainer...Lenders Needed ASAP. Thanks for your reply @brian 

@Brian Whelanundefined

I have a duplex in Rural NY. With todays climate...I Can Not Find Anyone To Refi Me Out of My Current HML. I have it listed privately on FB and FSBO but every offer has been a LOW BALL offer. Stuck On This One...See Details Below.

2 Fam Duplex (2 - Colonial Homes Attached)

- AS-IS Value: $300k

- Rental Income: $3200/month (Fully Occupied)

- Current Mortgage Payment: $1,300

- Taxes: $11,000/yr

- Insurance: $1,200/month

- Expense: $1,200/yr

- Owed To Current Lender: $141,000

If I can get a Loan Amount of $195,000 (Bridge or 30yr) I'd keep it...

Offers So Far: $180k to $200k 

Originally posted by @David Weintraub:

And to @Account Closed 

I just checked our files, and it doesn't appear that you have a loan with us, or even had one.  Maybe it was under someone else's name, but we didn't lend to you directly.  I can't even address who you worked with, etc. Thx. 

I worked with Nick Olde in MD a loan servicer/officer. Lets not start on how bad this loan was...At the end of the day like I told several members at Temple View..."when your dealing with a borrower with experience...its not wise to control the Construction, Its not smart to smudge HUD's (i took myself, title and attorney days to figure out my closing cost went from 25k to 40k)...later to find out most of it was in fees and paying 12 months in advance of mortgage payments. I dont know how you make a borrower pay 12 months in payments upfront when they can clearly show they have completed 8-9 flip in the last 12 months...scary! I'll take ownership in allowing Nick to tell me "WE ADVANCE FUNDS AT THE CLOSING"......IT NEVER HAPPENED! EVENTUALLY I'LL BE REFI'N OUT! No need to go back and forth...It was funding I should have stuck with Alpha Funding.

Originally posted by @Rich Tenor:

Has anyone gone through the whole process with Temple view capital. Please advise trying to find out if they are a good lending company.

Dont Do It! The Whole "Advance At Closing" is a gimmick....and its not needed. All that will happen is ...You'll get a "$15,000 Advance" then somehow they will lower your value....include the "Advance" in the HUD and still state that they gave you the advance......ADVANCES ARE NOT NEEDED!

I too can vouch for @Mandi Ewart I'm now going through the same mess...she is correct. Someone makes up a draw schedule without confirming with the borrower and expects you to follow it a T. Ive been borrowing and doing deals for several years...Never have I ever heard of a lender not disbursing funds to a borrower because walls were not painted. Ex. They created a list of items they want completed...you dont finish that list...you dont get a dime from the Draw. It's insane and can stop any project from moving forward. They don't care either! Good Luck to anyone who borrows from TVC...Im now seeking a Refi with another lender..

@John Thedford sometimes when your doing so many deals at once...things get cloudy. I didn't get a chance to pull out because the seller (Fannie) wouldn't extend the contract...HML and A.N. took forever to get value...etc etc...when I realize the mess...it was too late...Had to close regardless of the terms ($15K at stake) so we closed it...did the work...HML will not release funds due to one item not complete on Draw Schedule..

@John Chapman apologies...this old keyboard gets stuck sometimes and does all caps.