rental income on non subject investment property
JD,The rental income is just calculated off of her schedule E on the 1040's. If she claims everything 50/50 then she would only claim 50% of the taxes, 50% of the rental income, depreciation, insurance, etc. Fannie is going to have you calculate everything off the schedule E to determine net...

HARP 2.0 Subordination agreement
If your second lien holder already took a fee then they are likely to not charge another fee if you select a new lender for your 1st mortgage refinance. Some banks may charge you twice but if you call and tell them the story a lot of smaller institutions are understanding. The second lien holder may or may...

Looking For A Lender For Harp 2.0 Refinance
Working on a HARP refinance is a little more complicated than the usual refinance. Even though my company does have broker outlets I would rather not broker my loans for a variety of reasons. Turn around times for many lenders that you'll broker through are ridiculous and the communication...

we would like to refinance our home but we have bad credit ,they are 590and 589 can we refinacace with credit like that . Mo
We would have to take a look at the report to see what is bringing your score down since those other factors may affect the loan program you are able to get as much as the score will. There are credit companies out there that can help, but usually when a borrower is this close I will take it upon myself to use a...

rebuttal letter advice
Hold on a minute. Are you really telling us that you were advised to write a letter of rebuttal but not advised as to what the content of that letter should be? I'm sorry to say, but your mortgage professional should be advising you on what to do. Basically you go out and find comparable home sales that...

conventional mortgage
Are you talking about a graduated payment plan? An ARM with an interest only feature in the first X amount of years? There are many different things that spring to mind for a professional when you use the term 'hybrid'. So, basically I'm saying you are asking a loaded question and we...

co-signing a loan
Derogatory credit, which is what you are referring to, is going to affect the score the same regardless of what is currently on your credit report. However, if you have a mortgage with mortgage history then you have additional credit being built and your score might be just a little bit higher. That is...

FHA to Conventional Refi
the answer to that question depends on how much equity you have in the property. if you have more equity then you maybe able to refinance with a lower mortgage insurance rate on a conventional loan. the interest rate that you will get on an FHA loan maybe better, but the mortgage insurance may be the...

i already foreclosed on my house in 2009 i have not paid my 2nd mortgage on that house sence 2008 is there a statute of limitation
I understand a lot of people bought homes with little or no money down and values decreased rapidly in the past several years. That means both banks and homeowners are left in a position where they have lost money. Remember that when you initially received the loan from the bank they did so based on a...

Can I streamline refinance my condo if FHA approval expired?
You should be fine to complete a streamline in this case. The complex does not need to be re-approved. You can call me with any questions and I'd be happy to help.

Can 12 months of paid receipts for rent be sufficient for an FHA loan?
All the investors I know who are willing to do FHA loans down to 620 credit have all sorts of overlays associated with those products. Most of the time it's easier to get the borrowers score over 640 if its that close. I'm not sure what exactly your question is asking. Is 12 months sufficient for...

Can I get some cash out of my VA streamline refinance to fix my weathered roof?
You can do a cash out refinance if you have enough equity, but if the house really needs repairs you may have an issue with the appraisal. Best thing to do is call a bank representative that specializes in VA loans. I highly recommend a gentleman by the name of Daniel Hennek :)

Is it possible to purchase a home with another one in foreclosure?
You can always buy a home if you pay cash. To get a loan you will need to follow the "seasoning guidelines", or waiting periods. You can do a search online to find out the waiting periods for different types of loans, but each lender can be different as well. For bankruptcy the shortest waiting...