Owner-Occupied Loans
Is it true that when if you get an Owner-Occupied Loan, you have to refinance when you move out? NO! Believe or not I have had a few clients think that this is the case. When you sign loan documents, the NOTE and the DEED of TRUST are the 2 contracts that you sign....
This Weeks Win! 10-23-15
A doctor, yes an MD, who works for the County of LA as a surgeon, wanted to buy the condo he was living in. His rent was $2800, and he decided before rates go up, he should move. So in May he made an offer and deposited his $40,000 as earnest money. His offer of...
This Weeks Win! 10-16-15
Newly divorced woman gets approved for a loan to pay out ex-husband, allowing her son to continue to live in the house he grew up in! While any change in familial status is hard on both parties, it is hardest for the children. In this case, the woman stepped up,...