Financing and Credit

I am looking to buy a home and rent it out and I need some private money with an affordable rate to make it happen. if you are a lender or know where I can find them- please let me know- thanks!

When a person wants to assume a mortgage, do they have to be qualified by the current lender to do so? Can they refi it with current lender or another?

Thanks,

Linda

All:

The legal procedure for execution against Property subject to a judgment lien is straightforward. However, underwriting the costs associated with executing a Judgment Lien Against Real Property has proven to be a real challenge for me. I was awarded a Judgement Lien for approximately $180,000 by the county supreme court as a source of recovery against two blocks of free-and-clear, business A/commerically-zoned property that anchors a nationally designated historic neighborhood in Upsate Central New York. As you'd imagine, what has been happening in the larger economy coupled with the sentiment of "get the deed first then come see me" have been ongoing setbacks.

We want to throw out some encouragement to anyone who hasn't found an investor partner to put cash up for purchasing property. We were guest speakers at Edge 2011 and our topic was "Investing with Other People's Money". Since that time, our orignal investment partners have pulled back a little because of a couple of large commercial investments they're getting into.

Where are all the Joint Venture Capitalists? Does this not exist anymore? I have a great deal that I would like to JV with a cash investor; 83+% ROI for cash investor plus majority holding in project. Anyone know of someone with interest? I see so many posts about "lending," and "funding," but not about joint venture partnerships.

Hi DG family,
Boy have I been busy! But, I wanted to let you know about this company that will lend 80-100% of purchase price (depends on how good the deal is).

They lend all over the US and, although you'll have to come in with some money, they only check credit if you're planning on refinancing. They also require a lot of the things a traditional loan requires like tax returns and bank statements. SO, this isn't for EVERYBODY, but, it will be useful to some people.

For proof of funds letter for newbies, can you tell me when you would use this. I don't quite understand the whole process.

From ask Tara @ Trulia: 5 Credit Myths:
http://www.trulia.com/blog/taranelson/2011/10/5_credit_myths_-_busted

There is also a table in the story of how different situations (foreclosure, late mortgage payments, etc) affect your FICO score.

Check it out!

Read the whole story here:

http://www.msnbc.msn.com/id/38770102/ns/business-real_estate/

While it is great news for those that have great credit and need a home loan; falling rates this low is a sign that the financial markets believe we are going into a deeper recession. It's all about perspective.

Here is an interesting story from MarketWatch that compares the history of mortgage rates since 1971 and explains a lot of the issues surrounding our current situation.

http://www.marketwatch.com/story/mortgage-rates-plunge-beyond-expectatio...

Enjoy