All Forum Posts by: Neil Aggarwal

The lenders has to have an ITIN to file the mortgage interest statement every year.

Some private lenders will give you a loan based on the healthy amount you have to put down.  There are ones that will do it on a purchase of a primary residence.

In my world, it will actually be easier to get a blanket loan across all of them instead of individual loans for each property.

I think the original poster is worried the private lender will promise them the world and then find out at closing that the deal is not what they discussed.  Another problem may be that the lender never wires their funds to the title company.  These are all legitimate concerns.

If they have made any loans in the past, the county should have a public record of a Deed of Trust for each transaction.  That document will have the lender's name on it.

Self employed people have an almost impossible time getting approved for a loan.  I have been paying my bills since 1998, but banks think I have zero income.

In Texas, I can foreclose as early as the 2nd month after a missed payment.

You might be able to find private money in your area.

I think he may be referring to points.  Those are paid when the loan originates which he may be calling "up front".

You might also look for private money sources in your area.  Some of them will base their loan on the property and not your credit.