Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Inspection Central




How To Advertise Here

Sponsors
More Good Ideas!
Content Marketing For Realtors


Branded Content Marketing for Realtors




Build your brand on a Real Estate Site



Facebook
Sponsors
Topic Options
Rate This Topic
#77379 - 12/16/05 03:10 AM Prevalent financing???
Guest
Unregistered


This may be a dumb question, but this was asked on one of my BPO's. The most obvious meaning to me...."is there a type of financing that is most prevalent?" I can't help wondering if it has some more deeper meaning that I am missing. Any comments???

Top
Sponsor
#77380 - 12/16/05 10:08 AM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
I am not sure myself. It could mean how much or what kind.

Was the property in poor condition?

If so rehab and non-conforming lending.

I think a better answer that may be a qualifying answer would be "It depends on your credit and income type".

Typically investors look for BPO's so if you need some insight on credit scores and which qualifies for what let me know.

Top
#77381 - 12/16/05 12:45 PM Re: Prevalent financing???
Dennis Teasdale Offline
Member

Registered: 12/11/04
Posts: 231
Loc: Midland Texas
I've tried to research this term and my interpretation is type of predominate financing in the subject's pricee range and amount, or alternately adverse financing conditions. I would appreciate it if someone here could provide a better explanation.
_________________________
Dennis Teasdale
RealtorŪ, GRI
Broker

Dennis Teasdale Realtors
www.DennisTeasdale.com

Top
#77382 - 12/16/05 01:06 PM Re: Prevalent financing???
Guest
Unregistered


It does give a choice for the type of financig, Conventional, FHA, VA, or Other. Then it wants a $ amount. That's the one I'm just not sure of what to put. Guess I need to call some local loan officers and see what I can find out maybe.

I appreciate both of you guys responding. It helps to get the wheels turning and maybe figure it out. eek smile

Top
#77383 - 12/16/05 01:17 PM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
Oh...

Conventional is most popular.


FHA and VA cannot be used typically on a property with any structural or cosmetic problems unless is is 203k rehab or the seller will repair the property prior to closing.

Top
#77384 - 12/16/05 02:56 PM Re: Prevalent financing???
Real Deal Offline
Member

Registered: 08/15/05
Posts: 295
Loc: Northville
Kuntryhart,

The answer is always no to that question. This is asked on Countrywide Bpo's and what they are really asking is if you know what all the costs inccured will be including but not limited to seller concessions,prorated taxes, title company costs to the seller, etc.. That question cannot be answered until there is an offer and even then the numbers can change on the day of closing.

Top
#77385 - 12/16/05 03:02 PM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
Thanks Art. I was not understanding the full meaning of the question myself.

Glad another agent helped!

Top
#77386 - 12/17/05 12:09 AM Re: Prevalent financing???
Guest
Unregistered


Yes, Thank you Art. I really needed your help. Glad I put NO!! smile

Top




Residential Warranty Services


Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!


Priority Mold Testing




How To Advertise Here

Newest Members
Stewart Property, ListFLHomes, F Brown, Lauradena, RealtorHelper
27262 Registered Users
Who's Online
6 registered (agent916, Greg Masson, kentuckybrown, LoveTahoe, VABroker, 1 invisible), 165 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
David Hunter 52
New2ReSales 46
Vermont 36
VancouveRealtor 35
RealtorWebsite 35
MOMO 31
ibsellin 21
barb43 20
Tex 17
Broker John 13
VABroker 12
LoveTahoe 12
Agent Fez 11
lucky 11
BrianMI 8
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 14766136
No new orders today 10760793
Stupid MLS comments. 2343311
What do you know about Froy Candelario, top agent in USA 779436
Stupid QC comments and BPO requirements. 741798
New HUD Listing Brokers---Any Update? 691843
Is there religious content in Buffini class? 544899
EML 459220
Let's talk about our cars 442340
Pay it Forward - BPO/REO Tips & Tricks I & II 433242
Most common items found at an REO 399093
Name that Flick. Great movie Lines. 324611
Evalonline 300065
REOTRANS 299463
Land America 285044
asset val seminar in colorado 277849
Mainstreet 261851
HOMONYMS - There, Their, and They're 190711
FARVV 177361
assist 2 sell or 1 percent realty? 174830
Featured Member
Registered: Yesterday at
Posts: 2


This site presented by RNC Internet Services