All Forum Posts by: Frank Gade
Frank Gade has started 4 posts and replied 5 times.
Looking for some general advice on how to approach someone about an off market deal. Made a joking comment to the owner of the property that is next to my rental and he said he may be interested in getting rid of it.
Post: Mortgage Broker or Mortgage Institution
- Posts 6
- Votes 2
Bought our first rental and went through the same mortgage broker that we bought our primary residence through, everything went well, enjoyed our service and correspondence. Obviously loan has been sold to another lending institution. Question is do I need to go through my mortgage broker every time or can I just go through the institution that my loan has been sold to? Any suggestions?
Quote from @Sergey A. Petrov:
Oh boy! Did you read all those 17+ wire fraud disclosures that were sent to you over the course of the transaction and that you signed along with the rest of the closing docs?
I don’t know what else you can do. You’ve contacted the authorities and supposedly investigations are underway. That’ll take several months and you may get some money back if you are lucky!
Why did you contact a liquor store??? Drink your sorrows away?
My wife and I were scheduled to close on our first long term rental today, we have literally signed all the paperwork and then our title company goes to check that we have sent the closing costs to the bank to ensure that we have sent the funds. My wife wired the funds to what we thought was the title company the day before and the funds cleared this morning. (Wired on thursday cleared friday - today), We in-fact wired the funds to a fraudulant account/person that had changes in only the email address of our title company, my mortgage broker, and realtor. All of the other information that came from that email was correct minus the emails. The title companies phone number was correct. As of right now we have contacted our bank, our lender, several police departments, and the liquor store. Any advice would be greatly appreciated.
What type of account does everyone utilize to keep their rental capital/money separate? Do you utilize another personal checking account, personal savings account, business checking account, etc.?