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latest on refinance
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President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments.
The plan is an expansion of an existing program to help borrowers who are not behind on their payments but cannot refinance because they do not have enough equity in their home.
"Right now, some underwater homeowners have no choice but to refinance http://refinancetoolbox.com/ with their original lender - which some lenders refuse to do," Obama said in prepared remarks.
"These... More»1:50 AM 04/30/2013
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The Home Affordability Refinance Program (HARP) has helped some but not enough on a National level. (Since inception there have been 2.2 million HARP refinances, but that figure is much lower than needed.)
On April 11 the FHFA announced the extension of HARP for two more years; which takes the ...... See More » -
rebate
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what percent is the Rebate of the amount in a given payment? More»
12:47 AM 04/24/2013
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No Answer Yet
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Who qualify for refinancing?
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who we can say that a person is able to get refinanced..is there any statistics,any figures? More»
7:22 AM 04/23/2013
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closing costs
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What percentage the closing cost comes out to be of the principal of loan..? More»
4:09 AM 04/23/2013
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Likelihood of a Fair Re-finance Appraisal from the Bank
Hello, fellow Brownstoners: I am interested in re-financing my mortgage to get a lower rate. I currently have an FHA loan, so I pay PMI. I want to re-financing under a conventional loan to get that monkey off my back, but of course, I need the 20% equity required. I purchased my Brownstone on a premier block Bed-Stuy in 2010 in the mid 700s, and I am confident now that with recent home price risings and the condition of my home, I could get close to a million on the market. The problem is the price ranges in the surrounding area seem to vary alot, a... More»
1:21 PM 11/08/2012
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Hey @sobrooklyn, how did it end upo for you? I'm in almost exactly the same position, in BedStuy, and am wondering how this appraisal will turn out. Any suggestions and hindsights would be welcome. See More » -
Can someone tell me what is a rehab loan? I'm looking at a property I like.
It says it needs a rehab loan. most of the place is already gutted. It is 2 family. Can i still get a normal loan? is a rehab loan harder to get? Also does it cost more to get a rehab loan? More»
2:02 PM 07/05/2012
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If there are no bathrooms, kitchens, heat, etc., it won't qualify for a conventional loan. A 203K loan is more expensive, and there are other issues, such as how and who can do the work. But it's not harder to get, and with interest rates so low, it's a good time. See More » -
need financial planner for considering purchase of bstone
We are considering the purchase of a legal 2 family brownstone. Looking for a financial planner who can help us map out how this fits with our overall finances and financial plans, eg., retirement, college tuition, etc. I am not looking for a mortgage broker, looking for someone to consider our overall income/assests and how this purchase would affect our financial future taking into consideration short and longer term expenses. thnks More»
1:27 PM 04/18/2012
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I'm not so sure a standard financial planner is going to give you complete answers as they may have no experience in what's involved with the ownership of a two family. You probably also need someone with a lot of experience with the potential long term costs of ownership, what you need in reserve f...... See More » -
The Money Source Inc.
Brooklyn, NY
Has anyone financed a mortgage with this lender? They have a no closing cost FHA loan that results in a slightly higher rate of 4.2% for a 30yr fixed. What am I missing here regarding the closing cost? Are smaller banks willing to give up all those closing costs to actually sell you that loan? More»
7:52 AM 01/27/2012
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You should be able to get 3.9% or lower for owner occupied single family. That uptick in rate is very expensive. Do the math between the two. See More » -
Mortgage craziness - anyone know of an alternative?
Brooklyn, NY
Wow my brains have been blown in the last 36 hours of dealing with the mortgage brokers from various banks.
in 2008 we purchase 2 apartments in a brownstone and combined them into a 2 bedroom apartment. The purchase price in 2008 was $575k and we spent $100k in renovations (it was a gut renovating removing every thing including all walls and ceilings etc front to back including new wiring/plumbing etc
In mid 2010 we refinanced (didn't take any cash out just refinanced to a 30year fixed) - the bank valuation done at this time valued our apart... More»3:24 PM 01/26/2012
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Adam is the man. He just helped close the deal when I was tempted to rip head of the bank folks.
Dean, your situation sounds super familiar with what I encountered back in '08 trying to buy 2 units in a small 8 unit coop brownstone building in ft greene. I knew there was a likely scenario of a 3r...... See More » -
Great mortgage broker
Carroll Gardens, NY
I have just signed the papers for a refinance that I have tried and failed three times since 2009 to get done (through Chase - don't ever try to refinance with them!). This time I worked with mortgage broker Vanessa Thatcher who I found on Brownstoner. I was skeptical in spite/because of the wildly enthusiastic plugs - but she was great. Got me an amazing rate and was incredibly responsive and super fast. I made my first contact with her on Dec. 8 and so the whole thing took just a little over 5 weeks. The lawyer from Citibank who was just here told m... More»
8:54 PM 01/18/2012
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I used Universal Mortgage and was impressed with the personal attention they gave me. I could always get them on the phone. They got me the lowest rate and it was ultimately through chase. When I went to refinance with chase I hated them. The loan was under thirty percent of the appraised valu...... See More » -
Financial planner??
I am looking for a financial planner who does not get a commission on sales of securities, etc. I am looking for someone to help with the big picture, eg., savings goals, advice on how much to invest in home renovations, college funds, life insurance as well as investments. Any recommendations from brownstoners would be greatly appreciated - thanks in advance. I posted this a while ago but only got 1 response (and it was a firm that had a steep minimum in liquid assests!) More»
4:25 PM 12/02/2011
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looking for a financial planner
I am looking for a financial planner who does not get a commission on sales of securities, etc. I am looking for someone to help with the big picture, eg., savings goals, advice on how much to invest in home renovations, college funds, life insurance as well as investments. Any recommendations from brownstoners would be greatly appreciated - thanks in advance More»
1:16 PM 09/17/2011
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Try www.altfest.com. Very smart and knowledgeable guy with his own firm who is not commission based. Was my professor in grad school. See More » -
FHA mortgage rates after Aug 2nd
Brooklyn, NY
Any insight on how much rates could possibly jump? I'm hearing FHA rates could go above 7% immediately. Is this true or fear mongering ?? More»
11:44 AM 07/29/2011
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Rates are doing great, this is all a big show. People need to relax. Rates rallied hard for the better today. 10yr Treasury notes closed at one of the best levels this year See More » -
what the heck does this mean?
Brooklyn Heights, NY
Property History
Event
Amount
Date
Show details
Deed Transfer recorded
n/a
10/25/2006
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Buyer
Fischman, Michael I And Fischman, Shoshanna
Seller
M.S.F. Hicks Family Limited Partnership
Deed Transfer recorded
n/a
11/28/2001
Hide details
Buyer
M S F Hicks Lp
Seller
Fischman, Michael Ivan
Deed Transfer recorded
n/a
10/29/2001
Hide details
Buyer
Fischman, ... More»3:41 PM 07/21/2011
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Hard to read the way your post appears. Where did you copy/paste this from?
You can look it all up on acris and pull up the images of all the deeds that were recorded. Seems the Fischmans and Fischman Family Limited Partnership have deeded the Hicks Street property back and forth several times. I...... See More » -
Cash out Refi 3 family non owner occupied
I own a 3 family rental property in Bushwick and would like to take a cash out refi to perform some repairs and also purchase another small investment property in Brooklyn. I'm retired and my only income is the income from this and another rental property.
Anyone gotten a loan on a non owner occupied 3 family in Brooklyn recently? More»7:16 PM 07/05/2011
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