Randall Schrader's (superbroker007) Blog

Manufactured home mortgages are better left to the expert.   This type of property is just DIFFERENT and, like anything else, if you do the same thing every day you will get REAL good at it.  I've done financing on 1965 single wides, 100% VA purchases, tons of loans for homes in 55+ parks on rent...

Look at the power of FHA loans after the sub-prime meltdown. Did you know that FHA insured loans can be used in all of these situations? - No credit score - Single wide mobile homes - 540 credit score - Almost NO money down - Homes too damaged to live in - Duplexes - Major remodeling, cash out re...

'Here's my strategy on the Cold War: We win, they lose.'- Ronald Reagan 'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - Ronald Reagan 'The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that ...

Seniors over the age of 62 can access the equity in their home's with a government insured Home Equity Line of Credit via a Reverse Mortgage.  This is pretty cool!  Now the senior can write a check for home improvements, uncovered health care or whatever he/she wishes.  The other options are a lu...

Didn't realize just how much he's missed, until I read and remembered some of the stuff he said... And stood for . . . 'Here's my strategy on the Cold War: We win, they lose.'- Ronald Reagan 'The most terrifying words in the English language are: I'm from the government and I'm here to help.' - R...

There is a federally insured mortgage available to seniors only.  It's called a Reverse Mortgage and it works like this; Seniors age 62 and older can borrow from the equity in their home in the form of a lump sum, equity line or even a monthly check.  Since the senior is simply receiving extra in...

"Nothing in the world can take the place of persistence. Talent will not; nothing in the world is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone...

Seniors  are tapping into their home's equity to shore up their budgets.  It's a great option and works like this; Upon reaching age 62, a homeowner can take out a "Reverse Mortgage".  It's reverse, because monthly mortgage payments are sent from the bank to the homeowner.  The homeowner can also...

It is easy!  If it was built on or before 6/15/1976, there are tons of lenders lining up to fund a FHA or VA loan.  These loans require very little down too.  If it is older than 1976, things get a bit trickier.  The maximum loan-to-value is going to drop to 80% or less.  Loans on pre-1976 are no...

You want to get a security deposit to take care of any damage caused by moving in and out, pets and any repairs.  One thing that is not so obvious though is replacing appliances!  My glass top stove and washing machine are both gone!  I have the serial number and receipt for the stove, but I don...