All Forum Posts by: Upen Patel

Hi! @Angela Hall Welcome to BP.

I would second @Carson Sweezy. The realty he is talking about is Customer Realty run by @Elizabeth Nourse.

Welcome to BP @Jay Campbell. Nice to see more folks from DMV.

Hi! @Glenn Szilagyi Welcome to BP.

Hi! @Rita Williams. Welcome to BP.

@Chris Billington Why not doing conventional 30 yrs loans to pull out the equity? You get a lower fixed rate vs the Higher floating rate on HELOC.

Thanks @Karen Reynoso. We go to fix that. :-)

Thanks @Shawn Washington

@Marc Oister Can't be of help on this one as the loan amount would be below the min for the investor I work with.

@Skip Reath Yes, you will need to contract the management company to get the details on the delinquencies.

Credit, down payment, etc would be dependent on the analysis of the info, which will determine which loan options are available.

Thanks @Russell Brazil

@Skip Reath You have to issues:

1. More then 10% ownership by one owner (you). If the person buying your unit is buying it as an owner occupant, then this issue can be easily addressed.

2. Delinquency. This issue is in the gray zone. It comes down to how much delinquency (%) for 30 day, 60 day, 90 day. This would determine if its an issue that can be easily resolved.

Answers to the above resolutions would determine if the buyer would have a 30yr fixed loan or a 7/1 ARM portfolio loan.

Thanks @Russell Brazil.

@Lance Austin If the property is zoned commercial, then your only option is a commercial loan. Given that its a residential property, zoned commercial, try to find out why its zoned commercial. Maybe you might be able to get it rezone and then a conventional loan can be done on it.