I have a client who owns a two family he lives in and wants to buy a single family residence to move into. He cannot sell his multi family without a loss so retaining it as an investment property. Will have a hard time getting a mortgage because banks are now leary of pyramid schemes where the first property went to foreclosure because the value was less than the mortgage.
Michelle,
Welcome to Active Rain! Congratulations on your first blog. There have been a number of recent changes for this type of scenario, but it can still be done if he has a decent track record as a landlord. Check out my daily update for a quick summary of what's moving Markets, and Interest Rates. You'll find this is a great site for sharing ideas, networking, and growing your business. If you ever have a question about VA loans, or FHA loans I'd be happy to help!
Ron Brown
VA Loan & FHA Loan Specialist
First Mortgage Company of Washington
Puyallup, WA
Hello Michelle,
Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!
-Keith
Good morning & welcome to Active Rain, You have joined an excellent site to receive free marketing, absorb more information from others, share ideas. Be a blogger and have fun. If you have any clients moving to the Greenville, Spartanburg, & Anderson South Carolina area we are your team. We are on all three MLS. Great blog! Keep it up. Again Welcome!!
Hi and welcome to Active Rain, a great site to network, share, learn, and have fun. Good Luck.
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