All Forum Posts by: Rod Curry

@Rod Curry Thank you sirs

If I purchase a tax property from the Baltimore city tax sale and there is a past due water bill, am I responsible for that water bill or will that property be delivered free and clear of all other liens ?

What are some strategies I can use for individual parking spaces in a parking garage inside a condo building. I purchased a few of them at the tax sale the last 2 years and haven’t done anything yet.

Is anyone having issues with obtaining tax lien certificate from Baltimore city? I purchased a tax sale property from the last tax lien auction and now I’m trying to file for foreclosure but I can’t get in contact with the city to obtain the certificate to file that foreclosure. I call over and over and no one know what the tax sale is. I go to the municipal building and they aren’t letting anyone inside. I went to the courthouse and got nowhere because I don’t have the tax sale certificate. The bidbaltimore website has been replaced with a general website so I can’t go there to get information. Does anyone know what I can do ?

@Jim Spatzenfeld they are counting my mortgages towards my dti. He’s saying that I have to have been receiving the income from those properties for 2 years in order to use it.

@Marcello Di Gerlando what banks requires 1 year of rental income that you know of ?

I have a rental property that I’m looking to refinance. I reached out to a local credit union to help with the refinance and was told that they couldn’t do the new loan because of my dti being close to 50% and also they can not use any of my rental incomes (close to $60k yrly) because I haven’t been receiving it for 2 years. My personal income from my job is $113k, my 3 unit is $3200 monthly and my single family is $1600 monthly. Using my rental income would put my way under 50% but they refuse to use it. Is this 2 year seasoning standard across the board with all banks or is it just this bank?

@Sang Nguyen stay away from Wells Fargo. I’m closing on a 3 unit on Thursday and I used Howard bank. 3.5% down payment and $4000 lender credit. Call Howard bank and see if they will lend in your state

Has anyone wholesaled a deal to an end buyer that was using a loan from a traditional lender/bank? I have a HUD property under contract using my LLC that im looking to sell to a buyer and she is trying to use her bank to fund the deal. Initially I was going to sell her the llc but im not sure if the bank will allow this so im thinking about doing a double closing. Can anyone tell me how to go about doing this or if this transaction will be any different from any other wholesale deal. Thanks