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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: When will you recognize that... Posted by hard money lender on April 28, 2009 at 9:33 PM In Reply to: Re: When will you recognize that... posted by Kristine-CA on April 28, 2009 at 7:50 PM you start by making the statement that it is not correct that lenders are not looking into municipal taxes. then 100% of your argument is based upon whether a property is rent-controlled. talk about a HUGE difference. the former is a minor detail, the latter is a much larger detail. not comparing apples to apples, there. me not taking any property back is saying something. i have been doing this for 25 years. i am about the only long-term lender that i know, who hadnt taken a property back. i dont claim to know about foreclosures, realtor business, etc. but i know a thing or two about hard money lending. so when you debate me on that, you had better have your ducks in a row. details such as municipal taxes on rent are minor details. i simply posted it to warn others who may not be aware of it. it is not a deal-breaker, or even close. i just am irritated that govt is able to get away with all this crap, and the voters keep allowing it to happen. most of my loans are in the 50-70% bracket. i did not get hurt, except i am having to deal with a bunch of stuff that i would rather not. i go back and forth on seconds. the loan may go south, but there are more equity dollars in the loan. the second does have to verify that the first is being paid. a bit of an inconvenience, but i have always been able to use an 800 number into their system to verify payments. i have adjusted my business model, though - as i said, it is even more conservative. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : you start by making the statement that it is not correct that lenders are not looking into municipal taxes. : then 100% of your argument is based upon whether a property is rent-controlled. : talk about a HUGE difference. the former is a minor detail, the latter is a much larger detail. not comparing apples to apples, there. : me not taking any property back is saying something. i have been doing this for 25 years. i am about the only long-term lender that i know, who hadnt taken a property back. : i dont claim to know about foreclosures, realtor business, etc. but i know a thing or two about hard money lending. so when you debate me on that, you had better have your ducks in a row. : details such as municipal taxes on rent are minor details. i simply posted it to warn others who may not be aware of it. it is not a deal-breaker, or even close. : i just am irritated that govt is able to get away with all this crap, and the voters keep allowing it to happen. : most of my loans are in the 50-70% bracket. i did not get hurt, except i am having to deal with a bunch of stuff that i would rather not. : i go back and forth on seconds. the loan may go south, but there are more equity dollars in the loan. : the second does have to verify that the first is being paid. a bit of an inconvenience, but i have always been able to use an 800 number into their system to verify payments. : i have adjusted my business model, though - as i said, it is even more conservative. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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