All Forum Posts by: Sarah Jones

Hey jim... where are you finding your houses? are you finding them on homepath? where are you finding these deals with low loan amount remaining? I am in california and i am trying to find a house that maybe has 90k loan amunt so i can buy it for 60k like you.. please let me know which web site to look for in los angeles thanks.

I heard I can make multiple offer on a contract but i have to be careful what i put on the offer letter. i heard i hsould put something about i would accept the 'first and best offer that is accepted' i only have enough money for one house i dont want to be tide to buying many houses . what should i put in the offer letter to protect myself if i just want to buy one house>

that doesnt answer the quesiotn could someone answer this thanks

1. Any thoughts on hard money loan? can they be trusted? I am putting a giant amount of down payment about 60% i really do not want to lose my house its a 3 year with a baloon payment..
2. anything to watch out for in a hard money lender, i am really concern with them because they are not from big banks they are just private comapnies... anythign i shoudl watch out for?

1. Any thoughts on hard money loan? can they be trusted? I am putting a giant amount of down payment about 60% i really do not want to lose my house its a 3 year with a baloon payment..
2. anything to watch out for in a hard money lender, i am really concern with them because they are not from big banks they are just private comapnies... anythign i shoudl watch out for?

1. he has no credit card debt everything is paid off no car loan everything is paid off.. bought the car for $5k paid off. so for $45k over 5 year his monthly payment is only $869 at 6 percent interest and he can afford that with $35k salary.. so how come they would not give hhim a personal loan? (he doesnt have a house) so since he makes $35k a year and has no other payment he can afford the $869 payment he should be able to get the $45k loan right?

2. i cant put him on the title...

3. is it easier to get a personal line of credit? i am just short 45k and i dont want to do hard money and i cant get a loan myself already tried so is it easier for my friend to just try to get a line of credit ?
4. are there any other options besides credit cards which is really bad?
5. what are interset rates usually on line of credits?

1. $60k loan for 5 years is only like $800 a month right? So how come a personal loan would not qualify him..?

2. can he request 60k loan and if denied ask for $45k loan?

3. what is the difference between portfolio loan and personal loan?

4. i dont want him on the title at all thats why i want to get just a loan and pay him back..

Yes i want my friend to borrow the money and give it to me in cash. i will make payment to my friend separately .. he trust me and he knows my salary.

my friend has an account with wells fargo, chase and bank of america. he was just approved for $5k credit card with chase. his credit is $730+ .. can he get a $60k personal loan? he has 3 jobs in the past 3 years for that pays $35,000 per year... how much can he ask for in terms of personal loan some people tell me 10k is max some say 100k i dont undersatnd..

i am trying to buy a house and i need to borrow $60k but my credit is not so good. one of my friend was willing to get the loan under his name for me because he has good credit , 3 year pay check stub making $35k per year with no debt (no credit card or car loan or anything)

1. does major bank like bank of america, wells fargo , chase offer $60k personal loan?
2. how much can we really get can we ask for more than 60k? his credit is at 700+
3. when they do a personal loan do they charge points like a home loan if so what is the usual points?
4. any other suggestion? i wanted to make a cash purchase i am only short 60k... my credit is horrible i dont want to do a hard money loan..

5. if i send out 5 offer letters and 2 bank accept me.. can i just choose 1 or do i have to take both? can i send out as many offer letter as i want?

1. so if i get a buyer agent to help me it is really not costing me anything since the bank is the one that is going to pay the buyer agent right?

2. this house was partially burnt in the front it doesnt show up on title 'YET' thats what my buyer agent says but it will probably show up on the prelimiary title report .. but the insurance comapny fixed everything so everything is perfect now. should i still buy the house? what are some cons to buying a house that was burnt but already fixed?

3. my buyer agent is asking me to make the earnest money desposit payable to them.. i don't feel comfortable with this shouldnt the deposit be givent to an escrow company?

4. the short sale is for $175k my buyer agent says that if i offer anything less or anything more it would take longer becuase they have to reapprove the price.. does this make any sense? I want it for $175k but i would prefer it if i could get it less .. this is a cash purchase should i offer less?