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cedski

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About cedski

  • Birthday 10/18/1966

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    A lil North of Dallas
  1. I'm not going to state a position one way or the other on MERS. Here is what I will say. At one point in time several counties in several states during the boom where so far behind in recording that it took 2-3 months to get recordings done. If lenders required the recording be completed prior to funding a loan those borrowers would be stuck in limbo till it was completed OR the lender would have to carry the loan on their books till it was recorded and could then be sold. In the second case it costs the consumer a lot more money because the lender is not going to absorb the carrying co
  2. Here is a list of private lenders Private lenders
  3. This theory is a bit overblown. Anyone who "took a beating" and stayed in is about back to pre 08/09 values ... and if they continued contributing they are ahead. Just as in 1987 and 2001 if you keep your allocations and contributions intact you ultimately are fine. Anyone invested in equities needs to understand that there are significant risks in doing so. The actual problem is with those who were downsized out/laid off or otherwise became unemployed and were forced to start drawing from the accounts to live on. The beating I am referring too is in the value of the home t
  4. This thread will be closely watched refrain from making political comments.
  5. What this article does not take into consideration is that many of the baby boomers took a beating in the market over the last couple of years and may not be as eager to sell a home which has lost value and then try and fund a retirement out of a devastated 401k. I wouldn't put much faith in this paper because of those simple facts.
  6. What part of Texas are you in? In Dallas Middleberg Riddle and Ghianna or Black Mann and Graham or Pierson Patterson. Morton Baird is down in the San antonio area and Gregg and Valby are in Houston.
  7. Steering is a RESPA violation. Unless it's in the actual purchase contract for the house you can't be forced to use a particular title company.
  8. make sure you get the lien release
  9. if you are writing off LLC losses on your personal tax returns it will show and count against you.
  10. As long as you have filed your homested exemption a judgement won't affect your home. Technically under TX law even if you sell the house you can keep the proceeds from the sale and those are protected for up to 90 days from garnishment. I am not of course an attorney but it's not something i would be concerned with.
  11. Let me address a couple of things that jump out at me in this post. and the repiles 1. To the OP...you state your scores are just under 700 however your signature line reflects a discharged BK and one set of scores under 600 and the other under 700 so is this a joint application? If it is then your broker is correct you need to work on your scores. 2. A 90 day late AFTER a BK probably won't be approved on a manual underwrite. You would need an automated approval. 3. The new GFE requires the broker disclose ALL the compensation they are making on the transaction unlike a bank
  12. Property taxes in TX tend to run at about 2.50 per every 1,000 in value. The value is based on the county appraisal not what you paid for the house. You can dispute the county appraisal however. Keep in mind that the seller will be paying the taxes on a pro-rated basis through the day you close. I did not see the owners title policy and in TX it is usual and customary for the seller to pay it as well. It may be in the total from the 2010 GFE box. There isn't an easy way to show a credit from the seller on the new GFE for something like the owners title policy.
  13. What you are asking the lender or broker to do actually creates a liability for them. Under the new GFE laws with the RESPA reform that went into affect on January 1st. the lender is responsible for and is held accountable for the numbers on the GFE.. So if the lender changes his fee's on the GFE and lists the title company YOU chose as the prefered vendor then the lender is accpting responsibilty for the title company fee's and if those fee's change the LENDER not YOUR title company has to re-imburse you. Having said that I would not send out a new GFE with another title companies fe
  14. What you are asking the lender or broker to do actually creates a liability for them. Under the new GFE laws with the RESPA reform that went into affect on January 1st. the lender is responsible for and is held accountable for the numbers on the GFE.. So if the lender changes his fee's on the GFE and lists the title company YOU chose as the prefered vendor then the lender is accpting responsibilty for the title company fee's and if those fee's change the LENDER not YOUR title company has to re-imburse you. Having said that I would not send out a new GFE with another title companies fe
  15. There are far to many variables to answer this question. Can you give a bit of break down as to the terms of the transactions like down payment and purchase price.
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