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02-04-2010, 05:08 PM #1
Fixer Upper
- Join Date
- Dec 2009
- Posts
- 30
If anyone needs financial questions answered let me know!!
Hi Guys! I am a loan broker in California. I came on this site to help people answer any questions they might have about the lending process, new Fannie Mae, FHA, Freddie, Jumbo, rate in term,cashout, purchase or Refy scenarios. Use me and abuse me. I don't mind that is what this community is all about.
take care.
Casey
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Ok, I got one for you: A client of mine wants to re-fi his house because he's under water. He knows he's going to have to pay for the bank's appraiser. He's afraid he won't get a refund of the CLOSING COSTS, if he changes his mind and decides NOT to refinance. What do I tell him?
Another one: Freddy, my friend wants to buy a Real Estate agency: BUT the name only. It's a very large indy name: it is NOT a franchise. He also wants to buy another agency's book so he doesn't have to start with no customers. How will a commercial lender value the name? How will they value the book of business? Pending closings? Quantity of homes under contract? Both? He just wants the book of customers, not the office, not the real estate, not the business equipment. Will the commercial lender bundle the loan in order for him to make both purchases since they are two different entities all together and will probably be purchased simultaneously.
Thanks in advance,
-CM
Last edited by Chrisopher Moltisanti; 02-05-2010 at 09:09 AM. Reason: improper grammar
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