loans: DEATH, MELLO ROOS, SOLAR LEASE, HIGH ELECTRIC, BACK TAXES & ATTORNEY LIENS - 06/06/16 01:23 PM
Dream Home For Sale. But not for the faint of heart. The biggest negative about this home was inorder to qualify for a loan, a potetial buyer had to qualify for $50,000 more than what the sellers were selling it for. The reason was the solar lease, because it was attached to the county tax roll, the lender had to figure the monthly lease amount and the Mello Roos with the 1% purchase price, property tax amount totaled an extra $650.00 a month, then add the PITI. Fortunately there was not a monthly HOA fee. And because the two story 3100 … (0 comments)

loans: Buyer Must Cross Qualify With Bank Of America, Chase, Wells Fargo etc. - 02/02/12 05:42 AM
Well today was a first for me. My buyer absolutely refuses to cross qual with Bank Of America or any other lender for that matter. She has shared her information with one lender and that's that. End of story. I understand BAC wants to know for sure she is qualified to complete a transaction. And I do ask my buyers to check GFE from at least two lenders to get the best loan deal out there. But not this buyer. 
It really is ridiculous to have to cross qual on the bank owned properties. I had asked for a buyer to … (3 comments)

loans: Taxes are 1.02% Plus the Special Assessments $3000 Really? - 10/25/11 08:12 AM
On a $300000 purchase that's $6000 per year or $500 per month plus HOA $100.00 per month. That is why all borrowers need to check the GFE form their lenders! AKA Good Faith Estimate don't have one ask!
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