All Forum Posts by: Ryan C.

@Patrick Britton I here what your saying, but another lender won’t do me any good since I just refinanced into this loan that I’m talking about. Going to another lender would mean refinancing again and paying closing costs again. A refinance couldn’t even be done now until this is recorded anyway so that is why I am stuck.

Need some help….

I refinanced my primary residence last December (2020). I did what was called a CEMA modification because I was using the same lender. (For those that are not familiar with those, it's too long to explain but it is a New York State thing!) Either way, fast forward to June 2021, I applied from a different lender for a HELOC on my primary. Title work comes back and does not show the new mortgage as recorded with county. I contacted the bank and the banks closer to correct that and all they have done is record the new money borrowed but not the CEMA documents that show that this "new money" was combined with the old mortgage. Because of this, the bank will not approve the heloc until it is fixed. I have gone back and fourth with the closer and the bank for well over a month and get nothing but the run around.

What in the hell can I do?? I am stuck. I have never in my property career ever had an issue like this.

I cant seem to figure out how to pull all of your money out of a cash purchase aka The BRRRR Method when the banks will only use the purchase price? They want 6-12 months of seasoning before they will you an appraisal. That seems counter productive. I read all over bigger pockets about people refinancing the next day, but have yet to find a bank that will.i need some suggestions.that aren't a 8% interest rate.

@Dan Gamache it's good to go. Just some paint to update colors but that is it.

@Ryan C. What I meant was do you offer any portfolio products?

@Jerry Padilla do you have any?

@Jerry Padilla 133,500. Close Monday. Purchased without mortgage and would like to turn around and refinance. Should appraise for a large amount higher than purchase price. I am prepared to leave some cash in. Debt to income on a traditional will not work and I need 30 year amortization.

Hey all, I'm just looking for some local banks that do in house portfolio loans, decent rates on a 30 year ammort? It needs to be in house loans so the debt to income can be overlooked. I've called lots of banks but can't seem to find ones that are reasonable @ 30 years. I buy my houses in cash and thought it would be easy refinancing but it has proven difficult.

Help me!!

I'm curious to know how people close so fast? I here all the time people are able to close on a home quickly but I'm not exactly sure how.

Any of the properties that I have purchased, I have purchased with cash, but the title search coming back to my attorney takes a few weeks. Is this a lawyer problem? A title company problem? Or a New York state problem?

Any advice is always appreciated! Thank you in advance.