The owner is looking to get into apartment buildings and is liquidating his portfolio. This property is an awesome cashflowing property with almost $1,000 a month in CASHFLOW. Buy this property for for a huge discount.
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Student housing perfect for cashflow NY, Philadelphia, NJ, Allentown, Baltimore investors
Looking for company in need of good account executive/sales manaer/banking specialist??
11.5 years in mortgage industry both on wholesale and retail side looking for good career minded company to utilize experience and knowledge in Tampa, FL area. Any takers? Willing to start ASAP. Thanks.
Honestly, you may want to look at FEMA. They’ve got plenty of business down there and they could always use a hand. You won’t make as much as you did in sales though.
From Canada and need mortgage to buy condo in US. How to wire money? Can US bank use collateral from Canada?
I recently moved to the US from Canada and have yet to establish my credit rating. I have a well paying job and would like to purchase a condo. My credit score would be sufficient in Canada.
To complicate the situation, I have a sum of money invested in Canada that I want to use as a down deposit, e.g., in excess of 40k. How can I legally "launder" that money across the border, avoiding all taxes and fees. Also where can I get a wholesale exchange rate?
In the likelihood that the deposit is not enough, actually it definitely isn’t, is there a way to have my parents co-sign the mortgage. My father is a Canadian citizen and my mother left the US in her mid-20s (now 50+). Is there a Canadian bank with operations in the US, or vice versa, that could be of help? Can a US bank take collateral from another country? I have a great relationship with my parents and they have offered to help in anyway possible.
Thanks!
Banks are able to wire funds to & from each other. All that is needed is the bank’s routing number and your account number.
MoneyWatch (CBS News)
Alexis Christoforous reports on an anxious wait for interest rate cuts; E-trade’s exit from the wholesale mortgage business; and a U.S. chocolate giant’s fight to preserve the purity of its product. (CBSNews.com)
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I have a question about Line of Credit and possible mortgage fraud.?
Hi my name is Jane and I am living in Virginia.
I purchased a house in Woodbridge VA in Dec/2004.Tom was my mortgage agent. I made 10% deposit. (Contract amount was $535,000.00)
US Express Mortgage Company approved first and second mortgage (1st $374K and 2nd $107K). About two months after settlement I received check book from BB&T Bank (3rd lien – Line of Credit $125,000).
I called Tom (Mortgage Broker) and asked about the check from BB&T because I had never applied or asked Raymond to open a Line of Credit for this property. He said "Jane, you did not need a loan application and you didn’t have to sign anything because you have a good credit and your Woodbridge house had an immediate equity right after you closed the deal. So BB&T approved the loan based on your excellent credit and equity of your house.
By the way I did not close the account and unfortunately I used the money.
December, 2008, the house was foreclosed (by 1st lien holder) and 3rd mortgage lender; BB&T Bank filed a lawsuit against me in the amount of $125K. I received complaint by mail in 01/15/2009.
* Right before foreclosure I requested all the documents regarding this loan to the entire lender including BB&T. (I was not sure what they have but I tried.)
Shockingly enough, there was a Loan Application which I have never seen and someone forged my signature.
BB&T Bank was not a wholesale lender. (BB&T had a wholesale department but I am not talking about them)/I didn’t know at that time because Tom and Bank loan officer were acting like they are…/The loan officer had to contact with borrower directly but it didn’t happen. Someone forged my signature in Loan Application, Credit Line Agreement, and Credit Line Deed of Trust (Notary Public? I don’t know who she is and there was no seal)
So they foreclosed my house and also asked me to pay. Yes I did use the money. If I have to pay then I have to. But how about a FRAUD. (Forgery and violation of lender’s liability…
Q #1. What should I do? Do I have to pay them and bury that fraud?
#2. We have 2 years of statute of limitation for fraud in Virginia. Someone told me that when I received the checkbook from BB&T Bank I should have known that it was a FRAUD (He said this is common sense). What do you think? I confirmed fraud when I saw someone forged my signature on Dec.2008–My deference is –“Jane you did not need….. your excellent credit and equity of your house.”
#3.Can I fight with the lender for anything like-Breach of Contract or Fraud or Lender Liability… I don’t know.
Thank you so much
P.S. Just for your information, Mortgage Broker and the loan officer are in federal prison committing Bank Fraud, money laundry etc. But not for my case.
I would look for a lawyer or attorney that specializes in that field and/or find out who the district attorney is that imprisoned them and notify them of your situation and if there is anything you can do, write a letter. Notify the BB&T co. that you are disputing their fraudulent account.
Titan Wholesale Video Flyer 11-4
Here is a fun video flyer that I put together. Enjoy!
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Need help in answering a Mortgage Lien question?
I put a lien on this guys house for 50K and since then he will lose his house in 9 days. WILL I EVER GET MY MONEY BACK given the situation… Please see detail….. The sellers mortgage lien on the property was $476,000 with America Wholesale Lenders. The property went to the Sheriff Sale in April of 2008. The property was purchased at the Sheriff for $391,500 with MERS (Mortgage Electronic Registar Services). The sellers have a six month redemption period after the Sheriff Sale (end date 10/10/08). If the sellers cannot bring to the table the balance of the mortgage lien within six months, at that point the bank/lender will own the property.
That’s the risk of being in second position; if the senior lien defaults, you lose. You will never see it unless you want to pursue a court case. Hire a good attorney, get your paperwork in order and maybe you can win that way. Now collecting is a different matter.
Good luck.
About Frost Mortgage FHA loans and VA lending for homebuyers
Frost Mortgage Lending Group is a nationally FHA licensed mortgage lender established by Greg Frost in 1991, with corporate offices in Albuquerque, NM.
A Full Eagle FHA licensed mortgage bank, Frost Mortgage Lending Group has the power to offer on-site approvals at wholesale mortgage interest rates.
As defined in the official Frost Mortgage Lending Group mission statement, Greg Frost leads his mortgage banking organization by placing integrity in lending, full disclosure, and constant communication at the top of the priority list.
With several mortgage branch offices and partners around the country, Frost Mortgage Lending Group is quickly expanding operations by providing 48 hour underwriting, aggressive mortgage rates, and progressive technology solutions that better serve clients and affiliates.
Part of the PRMI family, Frost Mortgage Lending Groups clients, referral alliances, and Branch Partners can be confident about the companys financial security and limited exposure to cyclical market conditions.
Greg Frost has a proven track record as the first Billion Dollar producer. Gregs Albuquerque team regularly originates over 800 loans each year. Last year, his team originated financing for 5.5% of all re-sales as reported through the Albuquerque Board of Realtors®, which translates to 1 out of 19 home buyers in Albuquerque, NM alone.
Experience, service, and solutions are what can be expected when working with the Greg Frost Team.
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Company Profile: Costco Wholesale Group (NASDAQ:COST)
Wal-Mart isn’t the biggest in every business. Costco Wholesale is the largest wholesale club operator in the US (ahead of Wal-Mart ’s SAM’S CLUB ). The company operates about 565 membership warehouse stores serving some 56 million cardholders in some 40 US states and Puerto Rico, Canada, Japan, Mexico, South Korea, Taiwan, the UK, and Australia primarily under the Costco Wholesale name. Stores offer discount prices on an average of about 4,000 products (many in bulk packaging), ranging from alcoholic beverages and appliances to fresh food, pharmaceuticals, and tires. Certain club memberships also offer products and services such as car and home insurance, mortgage and real estate services, and travel packages
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Hi, which mortgage lender offers 100% stated income, verified asset (siva) up to 945,000.00? Not avail?
If 100% is not avail., then what are the maximum ratios and which wholesale lender offers this particular leding product.
Indymac with a 720 will do 95%
GN Mmortgage does 100% with 720
Chase does no Ratio with a 700
Not sure what the cap is on the loan amount, they might not do a jumbo but I don’t have that info right now.
That was as of 5 minutes ago anyway… in 5 minutes that could all change!