All Forum Posts by: Neil Aggarwal

People get very funny when it comes to money.  They talk, but will not act.

100% financing is a myth perpetuated by people that sell seminars.

You have two strikes against you:
1. This will be owner occupied
2. It will be long term
Most private money people would like to stay away from both of those things.

Like I said, you will have to talk to everyone.  It will be a needle in a haystack problem, but nothing worthwhile is ever easy.

Banks can also foreclose on people that fail to make payments, but you always hear of people living in their houses for years without making payments before the banks foreclose.

They can call it, but they will likely leave you alone as long as you are current.

I have seen where a bank wants to have a mortgagee clause.  That is reasonable, but asking you to increase your insurance does not make sense.

I agree, the OP needs to look for private money sources in his area. Banks are very hard on self-employed people.  I have been paying my bills since 1998 but the banks do not think I have any income.

You might need to start looking for private money sources in your area.

Being a lender, I would only give you money after you buy it and I have the ability to properly evaluate it.

I have heard people can normally have 4 loans without too much problem as long as you have the income to support them.

I don't think he had gotten down to specifics yet.  I think the best thing is for me to show him what the market looks like and then try to decide the best path from there.