Pigg Advice Needed

[evolusd]

BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?

[urbanrealtor]

[quote=evolusd]BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?[/quote]
Yes.
Or you can call an agent you know (like [email protected]) and have them use their super human title company powers to get a free pdf.

Its like $.50 a sheet at the county.
That does not sound like much but it can add up if there are multiple documents (all of which are several pages).

[urbanrealtor]

[quote=evolusd]BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?[/quote]
Yes.
Or you can call an agent you know (like [email protected]) and have them use their super human title company powers to get a free pdf.

Its like $.50 a sheet at the county.
That does not sound like much but it can add up if there are multiple documents (all of which are several pages).

[urbanrealtor]

[quote=evolusd]BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?[/quote]
Yes.
Or you can call an agent you know (like [email protected]) and have them use their super human title company powers to get a free pdf.

Its like $.50 a sheet at the county.
That does not sound like much but it can add up if there are multiple documents (all of which are several pages).

[urbanrealtor]

[quote=evolusd]BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?[/quote]
Yes.
Or you can call an agent you know (like [email protected]) and have them use their super human title company powers to get a free pdf.

Its like $.50 a sheet at the county.
That does not sound like much but it can add up if there are multiple documents (all of which are several pages).

[urbanrealtor]

[quote=evolusd]BG – really appreciate the advice. A quick search reveals what appears to be a purchase money mortgage in 2006 and a 2nd TD in May 2007, neither of which have been reconveyed. Also odd is a TD/Assignment of Rents from an individual not long after purchase, which was later reconveyed.

If I want to get copies of the docs at the office on PCH, will I have to pay?[/quote]
Yes.
Or you can call an agent you know (like [email protected]) and have them use their super human title company powers to get a free pdf.

Its like $.50 a sheet at the county.
That does not sound like much but it can add up if there are multiple documents (all of which are several pages).

[recordsclerk]

You only need 30% equity if you need to use the rental income to qualify for the new loan. If you can carry both notes with documented income, you can get a new purchase loan.

[recordsclerk]

You only need 30% equity if you need to use the rental income to qualify for the new loan. If you can carry both notes with documented income, you can get a new purchase loan.

[recordsclerk]

You only need 30% equity if you need to use the rental income to qualify for the new loan. If you can carry both notes with documented income, you can get a new purchase loan.

[recordsclerk]

You only need 30% equity if you need to use the rental income to qualify for the new loan. If you can carry both notes with documented income, you can get a new purchase loan.

[recordsclerk]

You only need 30% equity if you need to use the rental income to qualify for the new loan. If you can carry both notes with documented income, you can get a new purchase loan.

[Ren]

[quote=evolusd]
I don’t know about the 30% equity rule to get another mortgage, but I assume there are some conditions, hence my original post.[/quote]

It isn’t about equity so much as income. If the first property is mortgaged, they would need enough to cover both PITI’s. Potential rental income doesn’t count.

If they already have a mortgage, the bank may require 30% down on the second property, even if the income is there. I heard that number from at least a half dozen lenders.

[Ren]

[quote=evolusd]
I don’t know about the 30% equity rule to get another mortgage, but I assume there are some conditions, hence my original post.[/quote]

It isn’t about equity so much as income. If the first property is mortgaged, they would need enough to cover both PITI’s. Potential rental income doesn’t count.

If they already have a mortgage, the bank may require 30% down on the second property, even if the income is there. I heard that number from at least a half dozen lenders.

[Ren]

[quote=evolusd]
I don’t know about the 30% equity rule to get another mortgage, but I assume there are some conditions, hence my original post.[/quote]

It isn’t about equity so much as income. If the first property is mortgaged, they would need enough to cover both PITI’s. Potential rental income doesn’t count.

If they already have a mortgage, the bank may require 30% down on the second property, even if the income is there. I heard that number from at least a half dozen lenders.

[Ren]

[quote=evolusd]
I don’t know about the 30% equity rule to get another mortgage, but I assume there are some conditions, hence my original post.[/quote]

It isn’t about equity so much as income. If the first property is mortgaged, they would need enough to cover both PITI’s. Potential rental income doesn’t count.

If they already have a mortgage, the bank may require 30% down on the second property, even if the income is there. I heard that number from at least a half dozen lenders.

[Author]

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