All Forum Posts by: Scott Miller

100% NOO financing was phased out of wholesale a number of months ago---sorry...

Regards,

Scott Miller

Thanks Rehab---it's been a long time (and not of my choosing)...

I can assist you with FHA based orgination if this is still of interest...

Regards,

Scott Miller

Yes sir---sorry...

You bet!

Regards,

Scott Miller

It doesn't appear that you would be eligible---sorry.

Regards,

Scott Miller

There really is not competition to FHA for owner occupied multi-unit investment property financing---there is no other conventional loan program that is going to allow between 97.15-97.75% financing (regardless of FICO score) with the "near prime" interest rates a FHA loan could deliver.

If you are looking for a high leverage/low interest rate loan solution for a investor occupied investment, your head is in the right place---be aware of the following:

a. You must demonstrate a motivation to occupy.
b. Must have 3 months PITI.
c. You can't own any other investment properties at the time of funding.

Hope this helps.

Regards,

Scott Miller

I don't know the particular article you are referencing (and don't give a great deal of merit to the "Oprah of Personal Finance"), but I believe I can decipher what you are looking for.

When purchase either a primary residence, second/vacation home or investment property using more then 80% financing, a borrower has two options to choose from; 1) A loan program in which the borrower pays the PMI, 2) A loan program in which the lender pays the PMI.

I believe Suz is suggesting that you opt for the borrower paid PMI option this year because PMI is an itemized tax deduction in 2007 only.

Hope this helps.

Regards,

Scott Miller

From one that speaks to people in foreclosure on regular basis, one repeating emotional trend I see is embarrassment---in general, folks in this position often act too late because they are embarrassed (pride is another good emotional anchor) with admitting failure...

Although I don't market to these individuals, I understand the mindset all to well and believe any marketing campaign to these folks should include the following components:

- Discretion/Privacy: Give them an opportunity to learn more without revealing themselves initially---offer a white paper or recorded info-message which would allow these distressed homeowners to learn without the need to speak to somebody.
- Hope: Too many marketers are appealing to fear---although fear is a compelling emotional trigger, the majority of people don't want to be reminded what they will lose, they want to be reassured that there is a chance for recovery.
- Dignity: These individuals already feeling down on themselves---your marketing message should remind them that they are OK despite being in these unsettling circumstances.

Regards,

Scott Miller

Thank you!