All Forum Posts by: Account Closed

There are a few lenders that will allow a simo purchase money 2nd mtg to 83% cltv held by the by the buyer's agent.

80% LTV 1st mtg thru lender

  3% LTV  2nd mtg thru Buyer Agent

83% CLTV 

The buyer agent can offer the 3 Points commission loan on a 12 or 24 mo. balloon.

$12,000 less out of pocket can come in very handy post closing for repairs and upgrades

This can be a Win Win for everyone.

I  actually watched a special the other night on the Donner tragedy because of what you've been hosting.

So at least you help to teach me something, but yet to have learned anything from your posts

That's where the Realtors remember this topic and in effort to ensure that the loan makes it through the bank processing, step in and do a rebate for a dollar 1.82 and look like Heroes.

This is being sarcastic but it just shows how ridiculous these comments are pushing back on such a make sense action

I  guess the buyer needs to find a realtor with the negotiating skills negotiate a  $1.82 on a half a million dollar home.

But given the comments on this topic, finding one of those might be easier said than done

@Chris Mason,

You know good and well how loan processors, U/W, closing dept. and everyone in the loan process feels about sale prices that end with oddball numbers or even worse, the ones that end with cents.

You know how the margin of potential errors goes up when ordering appraisals, title and all the other tasks that require employees at lenders to manually hand write or type in a sales price like $550,998.18  and they accidently write or type $550,989.18  instead of the realtors simply taking the common sense initiative to simply negotiate another $1.82  and make the sales price $551,000.

Then the time and effort it takes these hourly employees at Banks to correct the price someone entered wrong and how it can cause delays in the process trying to obtain the CTC.   

Sure it's the "lender's" fault, but who cares whose fault it is when the closing ends up getting delayed a day over such an avoidable potential issue!  

Oh well, that hourly bank employee is not the one with their moving truck packed, and lives thrown into turmoil because their realtor was so hard headed as to not round the sales price!

However, you seem to be the resident lender and moderator here on BP, so your comment is not unexpected.  

I have spot roof repairs done on my rentals, but if it's an older shingle roof that you think more leaks are likely to start in other places but you can't afford  a new roof, consider having a roofing company shingle over the existing shingles.

I've seen this extend the life of roofs another 8 to 10 yrs and costs a lot less.  

I just have a similar issue with one of my rental properties.  

Best thing to do is pay a little more than a window unit and buy a portable A/C & Heating unit on wheels that you can roll around and put in your rentals temporality when A/C goes out that you can have an use for the next 20 yrs.

They're very high speed units nowadays.  You can get one at Lowes or Home Depot for about $500 to $600 that cools and heats about an 800 square foot space.  

I actually take mine to the beach to help cool a condo in summer with kids in and out, leaving the door open so I don't have to constantly yell like my grandfather use to do...

...WHAT AM I, AIRCONDITIONING THE WHOLE  "bleeping"  NEIGHBORHOOD?  SHUT THE DOOR, YOU'RE LETTING ALL THE A/C OUT!

Im out here on Clearwater Beach with my toes in the sand, just watched the sunset, with a JD and coke , ready to respond 

BRING IT!!

I feel like Mike Tyson walking into a boxing gym in the Hamptons here on BP

Funny how finnacial "wizards" always try to quicly distract BP investors away from thier comments with subsequent posts when they poke thier nose in a discussion topic in which they display complete finnacial ignorance to all.

That's okay,  they need to learn too.