Financing and Credit

WASHINGTON – The era of record-low mortgage rates is over.

The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market.

And if you wanted to refinance at a super-low rate, you may have missed your chance. Mortgages under 4 percent are still available, but only for loans that reset in five or seven years, probably to higher rates.

Rates are going up because of the improving economy and the end of a government push to make mortgages cheaper.

I have a buyer that is very interested in renting to own. He can afford $900 per month. I also have an investor who is very interested in buying houses and doing rent to own instead of just renting. My question is how do I figure out the price range of house "my rent to own buyer" can afford if the investor pays cash for the house and then sells it to my buyer? Thank you for any help it's greatly appreciated.

Does anyone have any ideas on how to build business credit for an LLC? I believe that it was Nathan Street who gave a suggestion that I saw in the Edge '09 video. He suggested opening a savings account at a bank using your tax ID number and getting a secured loan against it. I did this in the '90's and built my credit very quickly. Unfortunately, I can't find a bank that will do this anymore. The national banks that are around me don't do secured loans or credit cards any more and the one local bank that I coaxed into agreeing to do it said that they wouldn't report to the credit bureau (which defeats the purpose).

I really would like to buy and sell my real estate through my LLC's rather than in my name for many reasons. Any suggestions?

Has anyone used Blazevic funding they are listed on the 65 hardmoney lenders.

I have been in touch with them but they want $750 up front for membership.

Any help would be great
Thanks Marc

I found this company through a club I belong to. I never used them so do your due dillegence.

http://www.TransactionalFundingNow.com

I made more than 50calls to different banks and mortgage brokers. Could not find one who does refinancing with less than 6months seasoning. I've been trying for months now. The property is seasoned for about 3.5months now. Please let me know, if you know a lender for this type of refinancing. Property is free and clear. Thank you !

Does anyone know a bank that will fund using leverage from another property we own? Any advice is appreciated?

Their has got to be someone out their that has tried what I am trying to do. I have been trying this on my own but don't seam to be getting anywhere. I want to get my bankruptcy removed from my credit report.It wasn't discharged until 08, But seance that time I have went back and took care of everything. I don't mind paying someone if they are legit. Any advice or experience with this would be appreciated.

Randy

I told a friend of mine that I was doing some REI and he told me he had $30k that he wants to put down on a house.

My question is, what is the best way he could utilize that money in terms of REI? He's curious, but needs some convincing and I simply don't have the knowledge to give him many options.

If so, please post your experience with them and if you would recommend using their service.