AngryBMW

Ok...so another serious question. I scanned the thread and may have missed it, but what is your solution to school shootings? If you don't have the patience to deal with this thread, then why post your .02 and add fuel to the said dumpster fire? Are you seriously trying to say that there are no restrictions on purchasing a gun in the US? Guess having a legal age to purchase, requiring background check, etc would have prevented this one? Oh, wait, the kid was a minor and STOLE the guns he used, right? So what would have prevented THIS shooting...or any other? Just going to blanket respond with 'more gun regulations'? Or, do you have something specific? -Marc

Serious question because it's hard to tell with your posts...Are you a supporter of the banning/confiscation of personal firearms in the US? Is that your solution here? -Marc

Hmm...sounds like ya'll need a local lending partner. Lettuce discuss when you make it official. -Marc

There is absolutely nothing wrong with an ARM loan...I write a LOT of them. It just totally depends on the individual borrowers needs and situation. Every ARM I sell has minimum/maximum adjustments set on very specific terms that the client fully understands prior to closing. And they also have a lifetime cap on how much they can increase/decrease. My portfolio ARM options are awesome for clients that are going to be in their current home for 5-7 years and want to pay less than $400 TOTAL in closing costs...or if they are looking for a way to avoid FHA with bruised credit scores and not get killed in closing costs. The misconception on 'dangerous ARM's' comes from the wild-west of mortgage origination (think 2000-2007 pre-bubble) when you had originators selling ARMs that would qualify a borrower for the initial deal...but would adjust so randomly and so often that it pushed the client into delinquency and ultimately foreclosure. Predatory lending at its finest by a LOT of mortgage brokers/bankers/new home builders. If you are planning on staying in your home for the long run...there probably is not a benefit to refinance right now unless you have a need for cash in hand at a low interest rate. Mortgage broker...mortgage banker...semantics. And your servicing portfolio is what...made up of basically only the loans you can't sell? There is always a one-off situation. I wouldn't try and sell that as the norm and misrepresent yourself. -Marc

Just waiving that magical mortgage brokers wand around and getting shit done... If the LTV was under 80% verified by an appraisal...it wasn't HARP. If an appraisal waiver was used, then in the system you marked the LTV as above 80% using an artificially lower value. It's that simple. -Marc

All correct. HARP is a great product for those that are underwater on their current mortgage. HARP rates are typically lower than the clients current rate...but a bit higher than market rate to make up for the lack of equity. If you have 20+% equity and a 30yr rate under 4.5% you are probably in a good spot. Unless you're looking to shorten your term and take advantage of a lower interest rate...or have plans to sell in 7 or less years and want to increase your cash-flow with an ARM. -Marc

Missed the sarcasm, didn't you? Don't assume that we (Union Savings Bank) do not have portfolio lending options or correspondent programs that would be of service either. There is a reason I work where I work...and why we are the number one mortgage lender in every one of our primary markets. Back to Brad...You do have enough of a portfolio to make the jump. Health insurance costs for an overall healthy 28 year old are not an issue and shouldn't be a concern. It's a personal decision for you to make...either way you go, you should be just fine. -Marc

Portfolio lending?! What is this magical lending unicorn you speak of? Please tell me more about what a broker/mortgage bank can do with their stellar NOO products/rates/costs?! The OP is well versed in portfolio lending and has taken advantage of it more than once... -Marc

Going to seriously hurt your ability to continue financing new properties and growing your portfolio. -Marc

This was also a VA purchase...in Georgia. The seller was a tool. -Marc

I just closed a Conventional condo purchase in 12 days start to finish. Concord was the buyers original lender...took them 3 weeks to tell the buyers they couldn't do the deal and I was able to make it come together in the original contract period. Typical turn-time on a conventional loan should be 30 days or less...a lot of the 'bigger' banks like PNC/Chase/53rd or Huntington are between 30-45 days on conventional financing in this market. I'm happy to hear Huntington got you squared away quickly...you must have been on the ball on your paperwork for them! Regarding contingency offers...as others have said they do weaken your offer in todays market. As Brad mentioned, putting in a financing contingency on a 45 day contract and listing yours immediately should have you covered but it is still a somewhat risky move in case your buyers can't close in the timeline. Feel free to give me a call/email if you would like to discuss. Depending on your equity position on your current home we could look at a blanket loan combining the two to get rid of the issue. mstock@usavingsbank.com or 614-339-1206. Thanks, Marc

Like you have ever worried about that... -Marc

A: I know a mortgage guy. You lose my number? B: Painting and pretty much anything else interior I would give Brian Hayes a call with Ohio Property Brothers. His cell is 614.402.8286. If he cannot or is too busy to do it all I am positive he will have a great back-up. C: Paver...meh. I'd go stamped concrete all day and would definitely call Sam. D: Fencing...only guy I would call is Andy North. He just gave another friend a quote and was hands down the best pricing. 614.406.0002 Thanks -Marc

You guys rock...thank you for the kind words. I had an awesome conversation with the OP and hope we can work together! Thanks for the continued support! -Marc

Just sent you a PM...would very much appreciate the opportunity to chat. 614-339-1206 / mstock@usavingsbank.com Thanks, Marc

This. Tell him I sent you. 614-332-8109 or sallman@insurance-mitchell.com Thanks, -Marc

Sorry...left out the 10k part. -Marc

Any transaction of $10,000 or more (cash/check deposit, transfer, withdrawal, currency exchange) will be reported to FinCEN by your bank with or without your knowledge. It is to track and prevent potential money laundering activity. Any CASH deposit, as you said, is automatically reported to the IRS. From my understanding, a wire or electronic transfer of funds of $10k or more is not reported to the IRS. I assume Coinbase isn't mailing you or your bank $10k in cash so it is most likely not being automatically reported to the IRS. -Marc

All great information here. Especially the refinance part. For the cost of a refinance with me, you will typically make up the out of pocket expense in the first year and every penny saved after that can go directly towards your principal. Shut up. You know better...especially due to your cash-flow position. -Marc

You have my number... -Marc

I am 100% for going back to isolationism. -Marc

The CarK. 1985 El Camino bought off of Kenny (rip). It was the first car I ever did any real modifications to. Did an engine and trans swap in my parents garage...nitrous (never sprayed!)...a good amount of suspension and exhaust fabrication...absolutely LOVED the car. Sold it back to Kenny when he asked and he passed a few months after. Tried to buy the car back to finish it in Kenny's memory but couldn't find it only to be told a year or two later that is was 'hidden' away in a barn that collapsed on it crushing it. Sucks. I'm still kicking around the idea of buying another to recreate the car but I'm stuck because I know it won't be the same. -Marc

I just got back from a boat race in Key West and saw this thread...does anyone have any more information? -Marc

Check your phone. -Marc

I'd look into Deer Creek and/or Salt Fork. Both are gorgeous and have lakes/beaches/hiking...I'm just not sure on the RV thing. -Marc