representation: I Wasn’t Aware Closing Costs Would Be So High”
- 08/01/14 11:02 PM
“I Wasn’t Aware Closing Costs Would Be So High” I got a call from a young man that wanted to purchase a multifamily home to live in and have most of the mortgage paid by the tenants. He is working directly with the seller, which always concerns me. He had done a lot of homework and identified a three family that he wanted to buy. The taxes were 6600 or $550 per month and we needed to estimate $1800 per year for homeowners insurance or $150 per month. He told me that he had $10,000 available to … (33 comments)
representation: Dinner with Two Couples that Voted for Obama
- 07/14/14 08:34 PM
“Dinner with Two Couples that Voted for Obama” Most of our friends did not vote for Obama, at least not for his second term, but we do have friends that congratulated one another after winning a second term. Saturday evening we were out for dinner with two couples that were always ardent supporters of the President or so we thought. Both these couples brought up how they “Hated” him at this point. Unfortunately all the hating in the world is not going to make one bit of difference, the vote they cast cannot be taken back. It was obvious … (27 comments)
representation: “Divorcing Couple Argue Over their Mortgage Broker”
- 09/09/13 10:21 PM
“Divorcing Couple Argue Over their Mortgage Broker” I have been in the mortgage business a long time and have never been put to this test. I had done mortgages for this couple over 20 years and now that they were getting divorced they wanted me to handle a mortgage for them, but they decided I could only represent one of them and I had to make the choice. Are you kidding me? Initially I got a call from the husband putting me on notice that he was moving and was going to buy a home, with his girlfriend and … (22 comments)
Sometimes you just can’t make this stuff up. Jenn came to see me for some advice. She was living with the former owner and they wanted to go their separate ways. He had an attorney draw up a deed and conveyed the property to Jenn. There was a mortgage on the property, so the conveyance was subject to the debt.
Over the last 10 years the mortgage was paid by her on a regular basis, she told me there is about $60,000 still owed. All … (16 comments)
Many, that have experienced a foreclosure or a short sale are getting sued. They foolishly believe that once this process is done, the creditor that didn’t get paid all they were supposed to get, can’t go after the rest of the debt.
Not true, unless you get it in writing or the debt is discharged in a bankruptcy. Many aren’t properly represented and what is even worse, even if they are represented, they don’t always get good advice.
In most cases, if these folks say they want … (7 comments)
“I Wasn’t Aware Closing Costs Would Be So High” I got a call from a young man that wanted to purchase a multifamily home to live in and have most of the mortgage paid by the tenants. He is working directly with the seller, which always concerns me. He had done a lot of homework and identified a three family that he wanted to buy. The taxes were 6600 or $550 per month and we needed to estimate $1800 per year for homeowners insurance or $150 per month. He told me that he had $10,000 available to … (33 comments)
;)
;)
;)
