All Forum Posts by: Scott Miller

Difficult to name something without knowing the context of the book.

What you should write is a little more easier to tackle---write something that correlates with what investors are searching for on the internet (you can use a keyword search tool to determine the most searched keywords and build content around the target keywords).

Regards,

Scott Miller

Although cold calling would allow you to cover more ground in less time and expense, don't throw caution to the wind with respect to the do not call registry/laws (unless you have an extra 10K lying around).

Regards,

Scott Miller

Based upon the limited information you have provided, the best loan for you without question, would be the 203k loan from FHA.

You can learn more about the loan program by visiting my website.

Regards,

Scott Miller

I do---feel free to contact me anytime...

Regards,

Scott Miller

The issue with an IRS lien is that it can be transferred to a real estate investment.

Although commercial financing does tend to place an emphasis on the economics of the property (cash flow, ability to debt service, etc.), borrowers are part of the qualification process (up to 25% weight of the final decision is based upon the borrower's creditworthiness).

There are commercial loan programs that will accomodate credit scores as low as 580 in today's market.

Regards,

Scott Miller

Greg,

I assume that the investor requires a FULL DOC submission for a 680---send me an PM and let me know who the investor is---I may already know them, but the more the better... :D

Here are some changes that come down last week:

-Implemented a premium for all mortgages over 80% and below a score of 740. Now you will pay a minimum of 30 basis points more for those you used to think had prestine credit!
-Eliminated their 100% program. Homes prices are going down leaving even more prospects with no equity and yet now they have eliminated a major alternative for these prospects.
-Raised pricing premiums for lower credit scores and higher loan-to-values. Now those with "fair" credit will pay an extra 175 to 300 basis points more.
-Lowered maximum loan-to-values by 5.0% in declining markets. This means a minimum of ten pecent down for prospective homeowners in many parts of the country.

Regards,

Scott Miller

Contact me offline and I'll see what I can come up with...

Regards,

Scott Miller

I'd have to research this further, but here are my thoughts from the hip:

- I don't know if your properties are located in what has been deemed a decling market, if so, lender will chop max. LTV by 5%.
- You'd get a higher LTV allowance if your properties were 1-2 units---most lenders are going to cap you at between 75-80 LTV (you could expect to secure up to 85-90 LTV if they were 1-2 units).
- Expect to have cash reserves (most lenders will want 6 months).

There might be some lenders that operate outside the cusp, but like I said, I'd have to research it.

Regards,

Scott Miller

There are many questions unanswered before anyone can give you a direction---things like but not limited to:

How do you intend to document your income and assets---do you need to go stated or can you go FULL DOC?

What is your FICO (generally speaking, you'll need a 680 to go FULL DOC and a 720 to go STATED).

Where is the property located? Depending on location, you might be hit with a declining market adjustment if you go with a Fannie Mae or Freddie Mac based loan program.

How long have you been on title? There are a few no title seasoning loan programs left, but the majority of lenders want 12 months on title.

I can possibly help you depending on your responses to the above.

Regards,

Scott Miller