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Saturday, November 22, 2014

Did you know that some lenders that will not lend in Cook County (Chicago, Ill) Cayuga County (Cleveland, OH) and Wayne County (Detroit, MI)?



 Did you know that 100% financing, does not really exist?

Did you know that they have a radio advertisement stating that they could show consumer how to purchase property with no money down?


Did you know that ARV means After Repair Value?

Did you know that a Conventional Loan is a loan that is based on ICE?

Did you know that ICE is Income Credit and Equity?

Did you know that an Asset Based loan is a loan that is based on the equity in the property?

Did you know that if you own a property free and clear and you get a loan to pull equity from the property, that is a Asset Based Loan.


Did you know that being vested in a mortgage deal is not enough?

Did you know that Lenders want you invested in a Conventional lenders prefer around 10 to 20% and a Hard Money lenders  prefer 30 to 40%?







Did you know that some lenders that will not lend in Cook County (Chicago, Ill) Cayuga County (Cleveland, OH) and Wayne County (Detroit, MI)?

Did you know that Foreclosing  in those states listed  is a process that takes years to complete ( 2 to 3)?







 Now if you didn't know, now you know...



To see more did you know that trivia click here

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