Everyone needs cash, but no one wants to touch their very low-interest rate 1st mortgage.
Alternative loan programs for 2nd mortgages are available.
As licensed professionals, most of you do not work with buyers of real estate.
In fact, many of my readers who are realtors, don’t work with buyers.
But you all have friends and family in your lives who may need to buy or refinance.
Call me or share my contact information with your friends and family for advice.
Business bank statements, 1099 forms, written verifications of employment, Profit & Loss statements, are just some of the documents used to get approved for a mortgage WITHOUT showing tax returns or W-2s. Make an appointment to see if I can help someone you know!
Self-employed borrowers can get a 1st or 2nd mortgage without showing tax returns. Those with money in the bank can get a mortgage based solely on that.
First-time Home-Buyers, can buy an investment property, showing no income at all, using only the future rental income of the property to qualify for a mortgage.
10-15% down payment without PMI.
All funds may be gifted on an investment property.
FICO scores as low as 620 for loans up to $1,000,000.
Use the lower Interest only payment to qualify for a mortgage.
Close in the name of an LLC.
Tip of the Week:
There will be a new level of accountability for those with student loan debt.
With the recent firing of the head for the CFPB, private lenders of student loans will get more aggressive in their collection techniques.
You can be sure delinquent student loans will now be reported on credit reports.
Just as Important:
Medical collection accounts can no longer be reported on your credit report.
If one is on your credit report, you can immediately demand that it be removed.
You also gain significant leverage in settling these smaller collection accounts and making payment arrangements to repay medical bills interest-free.
Don’t put the debt on your credit card.
Unless the collection company is willing to go into court and seek a judgement, there is very little they can do in using enforcement to collect the debt.
If you do receive a summons and they have filed a lawsuit in court, immediately demand proof that you actually owe the funds. That will give you some time to seek out professional representation. I don’t expect these firms to litigate and spend the money on the court system for anything less than $3000. This gives you the ability to negotiate a repayment plan that you can afford, without having to be fearful of lawyers threatening you and harassing you.
Quote of the Week:
“To be informed is to be well armed!”
-Jeff Lafazan
Click here to schedule a meeting with me through Calendly
Thanks,
Jeff Lafazan
About the Author of Jeff’s Common $en$e - Jeffrey Lafazan
Experience, Knowledge, Solutions & Customer Service, ALWAYS!!
Residential / Commercial / Bridge Loans
Renovation & New Construction / Fix & Flip Investors
HUD Multi-family loans to 85% with 35-year Amortization
Bridge & HUD loans for Nursing Homes & Assisted Living Facilities
Reverse Mortgages up to $4 million - including Co-Ops
SBA business financing up to 90%
Investor, Commercial, Bridge, HUD, & SBA loans available in all 50 states.
Go Rascal (NMLS #2072896) is licensed in 34 states and growing.
Join Team Lafazan with national reach.
GoRascal Inc. (NMLS #2072896) is a licensed mortgage broker in AL, AZ, CA, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, KY, MA, ME, MD, MI, MS, NC, NH, NJ, NY, OH, OR, PA, RI, SC, TN, TX, VA, VT, WA, WV, & New York.
This communication is intended solely for licensed professionals
and is not an offer to lend.
Jeffrey Lafazan NMLS # 69338
Cell # 516-375-3943
JeffreyL@GoRascal.com
Jeff@GoldCoastBiz.com
https://goldcoastbiz.com/
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