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Erika Said:

Amcapital loans ALERT!!!!!?

We Answered:

They also work under the web address www.amcapitalloans.com which has a physical address of 41 Marietta st nw in atlanta, ga. There is no such company in this building. DO NOT SEND THEM MONEY! No one should have to pay money to receive money. I just lost $1000 to them so I speak from hard learned experiance. I'm making it a priority to see them shut down. Post to every website you can find, call the AG off ice in you state and send a report to the BBB. None of the above can return your money, but the word will get out faster and maybe they'll be found.

Frank Said:

Anyone know a flexible mortgage lender who won't charge PMI?

We Answered:

Quicken Loans - I was very skeptical of them since it was all online and over the phone but they were GREAT and I have a solid mortgage that isn't changing rates ever. I would recommend them to anyone - they did not charge PMI even though I did not have 80% equity - yes I know what I'm talking about... Just call and see how it is. If you are not happy, hang up!

Whoever thumbed me down, call and see. It is NOT required. Almost all places charge it though to protect their interests and why not?

Rodney Said:

I have felony convictions from a few years back. Will I be able to obtain a MA insurance license?

We Answered:

Theoretically, yes. But practically, no. See, with that felony, you need a special dispensation from the state insurance commissioner. Theoretically, they might give it to you. But unless you know someone who knows someone, they won't.

William Said:

What is the best type of loan to buy a second home to rennovate and rent out?

We Answered:

If you plan on renting the home out, it will be considered a rental property or investment property as opposed to a second home, even if you plan on living there after retirement. The difference between a 2nd home and a rental property in terms of financing are slightly higher rates and usually somewhat of a down payment required. There are many conventional lenders who offer various types of rehab loans where you can purchase a home based on the value of the work being done and the lender will hold the money for these repairs in an escrow account until the work is completed. Usually, a contract for all work that is going to be done will be required and most of the time it will need to be from a general contractor or a licensed contractor. Most lenders do not like for the work to be done by yourself. The lender will usually require an inspection (or multiple inspections throughout the construction) to make sure the work is being done and so that they can dispurse some of the funds if needed before total completion. You can also try an FHA lender and ask about a 203k loan. This is for rehabbing a home as well, but I am not sure if they will do these on investment properties. I believe Countrywide, Wells Fargo, Chase, Washington Mutual and many other lenders offer both of these types of financing. You can also try contacting a few mortgage brokers and they will shop the loan around and find a lender for you with good loan terms. A mortgage broker may have a little more to offer with this type of financing. I would also check with your local bank and a credit union if you belong to one as they usually have some pretty agressive stuff. Best of luck.

Jessica Said:

Countrywide giving people a hard time Modifying their Loan?

We Answered:

That is why a 3rd party may be able to help you just beware of any attorney fees because the lawyers are not calling your bank on your behalf. A 3rd party will present your hardship to CW so they will be sure to offer you a better rate and term. Also if your behing to bring you current. Let me know if you have any questions.

Milton Said:

Any MA. or licensed Mortgage lenders out there? I am looking for a mortgage lender to help me out.. read on.?

We Answered:

Be careful about giving your credit info to anyone you don't know. Alot of scammers will set up very professional scams to get your info. Be wary of which person/company you give this info to.