All Forum Posts by: Joshuam R.

@Michael Metzger I see what you are saying. Meaning the two funds available are actually investing in diversified options. 

Also I missed to mention this is with the Roth401k plan they have.

There really is nothing else to it , only VMFXX and VSCGX are only ones remaining after March 17. 

Maybe later months they add new ones. 

Thank you for offering to review documents.

@Kevin Romines Yes I believe they always at play, If not mistaking due to the pandemic some forbearances can be up to 12 months. I as the money person (bank) would not risk giving a second loan or third to a property that may default on all three. like you said it makes sense for them to control their money, same way we do and should by looking at conditions. But it affects members that are ready and willing to pull the trigger on their next strategic investment risk and just can not and need to wait in the meantime.

@James Leigh Yes, I hear you. I noticed they always mention the worst case scenario in closing time, but they move as fast as you move. I get the same estimate with Navy, but I am always responding within 20 mins with any documents they request, also I call or send email to rep once 24 hours hit of no replies from their end. Last one I tried took 6 weeks from application to appraisal and closing date selected. We did not close on it because sadly missed our target appraisal value. Also do to credit history hiccup last minute it missed the above 720 credit score mark which is best for a 90% ltv. 

We are now in that position, started the clock again with them. Application was started March 01, Credit pulled, documents signed and returned. I foresee that next week will be the appraisal scheduling /payment. Once Appraisal visit the home I give them 1 week for the to turn it around to the bank.

I say for others reading this, the only way to know the true turn around is move fast on your end with all your documents they request, and call back no more than 2 days of them not acknowledging you, and good luck.

Only 2 funds will be available after March 17th,2021

-Vanguard Lifestrategy Conservative Growth Inv

-Vanguard Money Market Reserves 

The other 22 funds will end. They will automatically transfer your investments to only one of the two remaining.

Here is the message:

"On Mar 17 this investment will no longer be available. Future contributions to this investment will be redirected to Vanguard Lifestrategy Conservative Growth Inv unless you change your investment selection no later than the close of trading one business day prior to this date"

All savvy members that can share good knowledge and feedback on this we welcome you.

@Kevin Romines Same as the others. Current forbearance of almost up to 12 months due to pandemic. Not wanting to risk new loans for possible future forbearance. But I contacted them and they said hopefully soon they start again. But at least for now we do have the option and can go for a cash out refi.

But we did feel the chills for a good hour or so.

Today 2021-02-25 message on Navy Federal website

"Due to unprecedented market conditions, we have temporarily suspended accepting new applications for home equity loans and home equity lines of credit. This update doesn't affect applications that have already been submitted. You can track your application's progress in HomeSquad. "

Orlando FL and surrounding areas. Also Fort Myers, FL the county is giving good tax incentives (more info contact them) for new developments.

Keep your 6 months sense of velocity on, and also take @Joe Villeneuve point of focus on getting deals not properties, deals can come in many different ways, solo or partnerships that fit your current financial buying power. Life is worth living get into action!

@Aaron Van Curen Hope all is well. I am curious how did this property and the process turn out, any lessons learned you would kindly share. Thank you.

Congrats! You put Repairs and Holding cost together, would you be kind to split it up and share how much was just the repairs, and how much if any you had to sub.

Thank you