House update #4.
I am EXHAUSTED and stressed from managing this. and working full time
(k ....no time to be tired at all)
1. 5.5 points, 12% but wants tax returns, proof of income etc. I have (sending this am)
2. 4 points, 12%, wants above info too
(I feel these are not really accepted until they have reviewed my info.. and they want BPOs. brokers price opinions but just pulled new comps.. house may appraise higher than 450)
The below are in the works (these people appear they will be LOWER)
..basically 3 brokers.. 2 of which wnat me to send 6 months bank statements, paystub and personal financial (in the works in this am)
I shoudl hear from these lower rate 3 on FRIDAY (tomorrow)
the above 2 acceptances are being told I need a day or two to think on it (while I still feed them docs)
ok talked to my mentor (relieved and happy look)
He thinks he can help me find the money too .. was impressed with the deal (wowzer).. he can only lend at 12% w 4 points but w him, I would assume no issue with docs (not that I can not prove income just my financials have been complicated) he is ALSo going to talk to some folks who have IRAS/401ks or just $$ and see if they want to lend to me.. 18 months. Hopeful look
My mentor on the 2 flat thinks I should definately short sale it (thanks 'anotherreader') and he wants to handle it (dependent on his review of info I just ssent). If he handles it I get a cut of the profit (few grand) and he can time the short sale as we need too so I can keep collecting rent to help with costs.
NEWS From Mentor today and tomorrow
NEWS from lower rate guys tomorrow
Other (higher rate guys) are held off to tomorrow
I have $30k liquid cash and think I can get $10k more
I do not want to disturb my emergency fund for myself or the '6 homes/3 units'
Onward. It is 10:30 here. hope to have all docs/info sent by noon.
if my mentor says ok to short sale I will call bank and get that started
update on house situation #4