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paul weinzimmer

Lender

Mortgage Banker (12 years experience)

Specialties:
Purchase Loan,
Refinancing,
Home Equity

Advice

  • (125 Contributions,
  • 5 Best Answers,
  • 74 Helpful)

Contributions are sorted newest to oldest.

5193 stanley AVE MAPLE HTS

Answer

Here are the current owners of record if you want to put their names on the card.Joseph & Giacinto VaccarellaHope this helpsPaul

  (0)
What ever happend to the recent sale lists on Zillow?

I used to be able to click on a property and then click on another link that shows recent sales in the area.  I could then organize the sale lists by bedrooms/baths/price/date/ect.  Can I still do that?  It really made me sound smart on the phone.  I need that.Paul

  (0)
Why aren't national banks pushing the FHA rehab loan?

Response

The product is pretty easy. The condition sheet the lender sends me after approval isn't much longer than a traditional FHA(203b) loan.  Some of the problems I have had is unmotivated buyers and general contractors.  The buyer needs to find a general contractor that they trust, then the contractor needs put together a estimate.  That could happen in a week, but it rarely does.  Things tend to drag out and loans that sit around for 30+ days have the most problems. The other problem is that this loan is for basic impovements and upgrades.   FHA is not going to appove your Viking Range and your LED lit crown molding.  I try to explain to buyers from the beginning that if it isn't available at Home Depot you are probably not going to get it approved.  From a business stand point I agree with you.  I would much rather do a traditional loan that had a 99.9% chance of closing within the month, but if you have shown the buyer every thing on the market it might be time to tell them about the 203k.Hope this helpsPaul

  (0)
Why aren't national banks pushing the FHA rehab loan?

I am a semi professional TV watcher and I never see commercials for the FHA 203k loan.  With so many properties that are rough around the edges because of tenant wear or just straight foreclosures, you would think that this is something that big banks would be pitching to every prospective home buyer.  Yes, I know it is a PITA loan sometimes.  I just called all my Zillow approvals from the last 6 months and I was shocked by how many people gave up because there wasn't anything out there.  Nothing out there??  The market is saturated with listings.  Some of the potential borrowers said they would start looking again once I told them more about the 203k.  I think it would be a good idea if everyone pitched this.Paul

  (0)