Financing and Credit

This week interest rates have risen a little. Earlier this year the interest rate was just over 4.75%. Today you may see the interest rate closer to 5.125%.

What does this mean to you? Nothing right now. Interest rates usually go up when the economy is doing better. However, the interest rates cannot go up too fast in light of how the economy is doing. If the market continues to improve you will see higher increases in interest rates but his will not be for a short time after the market is "stabilized".

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I know for a fact she has helped people remove Bankruptcies,
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Hi!

Im a CPT in the Army and need some advice.

I want to buy a house listed for 75,000 and appraisal value is 93,000. Since I am in military, I have a house in another state that I rent and make only about $50 per month. I bought the house for $170,000 and owe $131,000. But with the market drop, the house is only worth really about $150,000.

Im thinking of applying for a HELOC for the down payment on the new house (ie. the one for $75,000).

Can I get a HELOC on old house the same time I am applying for mortgage on new house?

What is a cash flow note?

Has anyone used or heard of a Hard Money Lender with the email:

[email protected]

Mr Desmond Tuho.

First off he's from **** (lmao!)

He sent me the documents and all the papers and contracts to sign.... but I don't know if he's legit. The last thing I need is to deal with someone trying to screw with my already bad credit.

Here's a sample copy of the email "as is" that I first received after emailing him, now I got the email from this site:

Hello,

Do sellers that offer owner financing ever use real estate agents?

Does anyone know if you can still qualify for the First Time Buyer 8,000 dollars if you are using owner financing? I feel like you can but I'm not positive.

From most of the Owner Financing ads I have come across the seller's usually ask for a down payment for assurance that you will be committed to the deal. Now I have a few scenarios to being able to pay for this down payment with none of my own money since I am a first time buyer.

Scenario 1- Owner uses a Real Estate Agent

I apologize for the duplicate post below but I could not find the Edit Button anywhere and I needed to correct a Typo.

Stated Income, Jumbo Purchase Program for Investors, Builders and those in need of this type of Program. Residential and Commercial Property Purchases from $500,000.00 to $12,000,000.00. At this time I will accept Inquiries from people who want to Buy in the Boston and Eastern Massachusetts area only. I do not want to be flying to other areas.

Program Information:

* Use it to acquire Residential and Commercial property from 500K to 12M.

I'm looking at a few Condo’s and Duplex/Triplexes right now to buy & hold with tenants in them. Figure I’d unload them when the market turns. I'm having a heck of a time getting a traditional mortgage is it advisable to use a hard money lender? What are the up’s and down’s? I've read a zillion posts on HML's and im kinda on information overload at the moment and getting more confused lol. I have great credit and income but not a lot to put down so I figured with a HML I have a better chance of getting the loan and negotiating the terms.

Thank you for looking

I've been looking at some REO properties with possibility of purchasing; in the listing description it states; pre-approval, proof of funds & financial exhibit.

What does "financial exhibit" mean? What exactly are the banks asking for or of the potential buyer or investor, who puts in an offer on these particular properties intention to purchase with those terms attach?

Is it wise to use a hard money lender for buying and selling properties? Who has done it?