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Interview today, loan news, and more savings

November 12th, 2014 at 03:57 pm

Hi all

Over $2000 in savings this month so far with a forecasted $3500 more (which will go right to the roof on that last house)..trying to tie up things and end the year strong and then set strong goals for next year.. need to get this LOAN STRAIGHTENED out.. hard to plan with that outstanding

Loan news

1. conventional guy sent me a text (a text, what an idiot) ..saying they were not able to get it through the system etc and he is basically giving up. upsetting. I called him immediately and will continue to call until I reach him.. loan was approved manually they were just trying to figure out the new system. I need info on details of loan etc.. any error codes so HE can either keep trying or I can try someone else.. very upsetting like he gave up.also called Fannie Mae directly and they need that info to look into it.. they say this occurs w new programs but hte manual underwrite approval is a good sign. I mean maybe we can show more assets, go for a 30 year not 15, or whatever. I need to know the reason it is not getting through to solve it and if for some reason it does not work not I need to know when it will so I can plan.. VERY upsetting this no call back

2. 5/1 arm still pending

Interview today 2pm.. feeling good..prayers!

getting lots of overtime opportunity at work (at straight rate).. maybe can make up to $4-500 a week extra.. crazy but nice..

First full rent month in what seems like a LONG time (July!).. crazy.. finances are much better w full rent.. with the property manager switchover I had 4 months of not full rent and high costs.

Answering questions from Another Reader made me realize I will only owe $119k across the 6 homes at the end of nexxt year.. why not formulate a plan to gather that $119k (or as much of it as I can) and pay them off early a the end of next year

WHAT A AWESOME thing that would be. Can you imagine? even I only got $75k gathered.. be great to speed up the process considerably. I would rather work really hard, think creatively and just get it done.

$119k is not big in the scheme of things but need to think outside of the box if I am in to get there (and need to get this loan settled)

1 Responses to “Interview today, loan news, and more savings”

  1. Another Reader Says:

    That's a great plan, as long as you can find a loan on your house. Remember, your hard money lender is hoping to foreclose and take your equity if you can't refinance when the term is up. You need to have a contingency plan in place if none of these brokers comes through.

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