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#1 By Deborah Theodule at 7/11/2017 3:45 AM

I have been told in the past that my loan was not held by Fannie Mae or Freddie Mae, but when I look at the original application that was used and later falsified was a Fannie Mae Form 1003 loan application. Does that help show that the broker committed fraud and misrepresentations. Also, the individual who signed the loan document was not the individual who worked with us. We later learned this was because the officer who assisted/robbed us was not licensed.
Our loan was a stated income loan, with a piggyback HELOC, an adjustable rate Option ARM, with a three year prepayment penalty. Our credit score at the time was 750+. We provided the loan officer with two years of tax returns and signed a form (1046-T) stating that they could and would verify our income through the IRS..
We have been told that our loan was through Ginnie Mae, but we have been able to contact anyone from Ginnie Mae to verify this information. Countrywide also state that they did not fund our loan, well we have information to indicate otherwise. An y suggestions are welcomed. Thansk for your help.

deborah

#2 By Joe Manausa, MBA at 7/11/2017 3:45 AM

Hey Deborah,

I have sent your comment to a specialist to see if he can help.

#3 By Jana at 7/11/2017 3:45 AM

My son is trying to lease purchase a house the owner has agreed to $150 a month for the first 6 months to get the house repairable and then $300 a month after that for 7yrs. I am not sure how to write this contract or where to get the form, When would he close on the house in 7 yrs any information would be greatly appreciated. also should he carry his own insurance on the house now and does he pay taxes or is that done after closing please help as I am unsure how to do this. Thanks Jana

#4 By Joe Manausa, MBA at 7/11/2017 3:45 AM

Jana, you need to execute both a purchase agreement (closing in 7 years) and a lease agreement that specifies the terms of the lease. I have no idea what city/state you are in, so I cannot recommend any certain forms. In Florida, both agreements can most likely be found in an office supply store. HOWEVER ...

I urge you to seek professional help, no matter your location. Either hire a real estate attorney or a top real estate broker in your area. As them at your first meeting what their charges will be. These types of situations are filled with potential problems and the documents need to be produced correctly or legal issues could become quite expensive. Just as an FYI, I would have given the owner of the property the exact same advice. Good luck!

#5 By Joe Manausa, MBA at 7/11/2017 3:45 AM

Sure Tonia, please include a link back to the article.

#6 By Charles at 7/11/2017 3:45 AM

I am in California, and am interested in a buying a home via the creative financing methods you touched on. Are you aware of an agent in the San Diego, CA area that is savvy in the creative financing arena?

#7 By Joe Manausa, MBA at 7/11/2017 3:45 AM

Hey Charles, I've put a few feelers out for you with some creative agents, let me see who I can get to contact you.

#8 By Joe Manausa at 7/11/2017 3:45 AM

Test

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