All Forum Posts by: Albert Hasson

Tell him you need his cell number, if he says no maybe you should find someone else.

Bill, there is no arguing with the folks who rely on Fox News and Rush for their "facts". The problem with these media outlets is that according to them our republic is on the verge of implosion, the world is coming to an end, the president is the greatest threat to our democracy, blah, blah, blah.
Fact is our country is in the midst of a robust recovery led by housing. Check out the home builder stocks. S and P within 3% of its all time, yes all time high. Home prices up 25% in the past year locally and almost 5% nationally.
Talk about redistribution of wealth, folks like me have been making out like bandits. The Fox News crowd just can't accept that.

John,I think you can do much better.
You are paying $7700 in closing costs on a 75k loan, that's ridiculous.
If you have good credit keep looking. On a loan that size I would expect closing costs around $2500 max.

Its not always a red flag. I have a professional baseball player here in town for spring training who insisted on paying his entire 6 month lease up front. Guess he didn't want to be bothered with sending a rent check.

i have had good luck with Grace Plumbing

I can concur with everything said. I completed 3 HARP refi's last year. Two were with the existing servicer and those were smooth with minimal fee's. The 3rd was with a different bank (Grand Bank/ICON) and the fee's were higher and appraisal was required but it too was fairly smooth. You just have to be patient, all took far longer than the standard 45day refi.

Thanks Eric, you more eloquently stated the point I was trying to make.

I will not change my investing or spending habits just because my marginal rate went up 4.6% and the capital gains rate went up 5%.
If you calculate how much extra tax it is on an actual dollar basis it's negligible when compared to my entire tax liability.
I don't believe personally in a threshold where working no longer makes sense. Like Steve said I would rather have 52 cents of every dollar I make in my pocket as opposed to nothing if I stopped working after reaching a certain amount.

I spoke with a loan officer from Prospect Mortgage a few days ago. They will finance up to 20 properties per borrower which is a new guideline for them (it was 10). These are full documentation 30% down loans. I think they can do 10% down for the first 4 properties. They can loan to a LLC but the LLC must have income, reserves, etc. it cannot just be a shell in which properties are placed. Hope this helps.

It should be pointed out that the rise in home prices we have seen recently is despite exceedingly stringent lending requirements the past few years. While taxi drivers and hair stylists may be talking real estate they aren't buying unless they are good credits risks.
Home prices may rise or fall from here but there is no way we will see a repeat of the foreclosure crisis that precipitated the last recession. I believe that we are in about the 3rd inning of the housing recovery and the same housing recovery will insulate us from another recession in 2013. Of course, i would feel even better if those jokers in DC would get their act together but I predict some sort of fiscal cliff resolution will come either before the new year or very shortly thereafter