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[quote user="Nick Johnson"]Curt, are you giving the impression that all Subject2 investors do NOT notify the lender of the change in ownership?[/quote] Yes, I am. Nice website Nick, what do you mean by this: "Tabletop closings vs. title company closings: how to know which one to use when you’re buying—and which one you always
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I wouldn't sign anything unless through escrow. Explain to the escrow officer what you are doing and they will provide instructions for you to sign to indicate that it is not to be recorded untill you receive payment. Doing it through escrow should be okay. Escrow is different in each state, check with a professional in your area.
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I think you should "cifitsells" Agree, sell the house first. Other things to keep in mind: A) how long are you going to keep working? You're 50 now...is retirement at 55 or 65 or 75? Are you planning to put the dream house on a 5, 10, 15, 20, 30 yr mortgage? B) Do both you and your wife agree on retirement goals? Do you both have awesome
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most purchase contracts will allow you to get earnest money refunded for getting declined on the loan. But I'm not an attorney, so ask your realtor or attorney what your contract really says.
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Dear Frustrated, First of all, welcome to our WORLD - we are all frustrated too! That said, the 4506-T is normally executed right away at time of loan submission. So either your loan was only just recently submitted, or it was "re-submitted" for various reasons - who knows what, and your original signature was over 90 days ago on the 4506T
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[quote user="Randy Stevens"]Even after we notify the lender of the transfer[/quote] Suuuuuuuuuuuuurrrrrrrrrrrrrreeeeeeeeee you do. to all consumers that may be reading this....when something sounds too good to be true..........well, you know.
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FHA works with no credit scores also. Contrary to popular belief, lenders will still do this loan. I see no reason based on information you've provided that this could not be put together as you describe. It might be the unmarried co-borrowers piece that is hanging you up right now with your current lender, but I'm guessing you're okay.
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[quote user="Andrew Russell"]this is for brokers, not correspondants or retail...Lucky to be me...[/quote] I suggest you read it again. There is no difference here. This is not just a new GFE. This is a fundamental change in the way that every single LO in America is paid. I'm guessing a bunch of Bankers (Fed Reserve Governors) got together
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[quote user="Ben Mabile"] Here is the link below... The good news starts at page 10. [/quote] Just starting to read this...thanks for the link. Don't know why NAMB didn't send it out to me? I've received 5 emails about the upcoming Convention, but none about this....
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[quote user="Dan Chapman"]I would love to get out of my home and rent for 2 years[/quote] 2 years is the absolute minimum - I would plan on 3-5 years. And then only with excellent re-establishment of your then tarnished credit report. Be prepared to pay higher than normal interest rates as well. I just hope that everyone understands that you