stillworkin
New Contributor
Well, this is my first hurdle. I currently have 4 sfh, working on #5. Countrywide approved me for the loan, then at the last minute backed out stating that my last two years of tax returns showed too much of a loss on my investments.
Talking with brokers and they are stating that FANNIE MAE and FREDDIE MAC won't lend if you have four under your name. (I'm working on transferring to my LLC). I was planning on transferring after this deal. Other brokers say I got to put 20-30% down... not happening. I can do 15% at most.
Not trying to lose out on this one. Accepted offer of 89K, tax appraisal at 113K. Realtor says can sell for 126K. Realtor says I can put in an extension to delay the process until I get reapproved. But not sure how long that's gonna take.
My question is how long does it take for a quit claim to be finalized?
Talking with brokers and they are stating that FANNIE MAE and FREDDIE MAC won't lend if you have four under your name. (I'm working on transferring to my LLC). I was planning on transferring after this deal. Other brokers say I got to put 20-30% down... not happening. I can do 15% at most.
Not trying to lose out on this one. Accepted offer of 89K, tax appraisal at 113K. Realtor says can sell for 126K. Realtor says I can put in an extension to delay the process until I get reapproved. But not sure how long that's gonna take.
My question is how long does it take for a quit claim to be finalized?
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