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ParticipantI have clauses in my lease for breaking it at my discretion by paying a fee. Basically I told them that I would like to rent and plan on staying the whole term but don’t want the legal liability of the longer term lease in case “life happens”. So I told them lets put a box around it and put a number on it and got it done.
I’ve got great credit and impeccable references so I have more negotiating power than say someone who has poor or no credit.
ParticipantI have clauses in my lease for breaking it at my discretion by paying a fee. Basically I told them that I would like to rent and plan on staying the whole term but don’t want the legal liability of the longer term lease in case “life happens”. So I told them lets put a box around it and put a number on it and got it done.
I’ve got great credit and impeccable references so I have more negotiating power than say someone who has poor or no credit.
ParticipantI have clauses in my lease for breaking it at my discretion by paying a fee. Basically I told them that I would like to rent and plan on staying the whole term but don’t want the legal liability of the longer term lease in case “life happens”. So I told them lets put a box around it and put a number on it and got it done.
I’ve got great credit and impeccable references so I have more negotiating power than say someone who has poor or no credit.
ParticipantI have clauses in my lease for breaking it at my discretion by paying a fee. Basically I told them that I would like to rent and plan on staying the whole term but don’t want the legal liability of the longer term lease in case “life happens”. So I told them lets put a box around it and put a number on it and got it done.
I’ve got great credit and impeccable references so I have more negotiating power than say someone who has poor or no credit.
ParticipantIm sure the catch is that you arent comparing apples and oranges on loans and just see a home loan with a certain rate. It is most likely something like a 5/1 ARM not a 30 yr fixed or something like that.
As for lenders, Pentago Federal Credit Union.
ParticipantIm sure the catch is that you arent comparing apples and oranges on loans and just see a home loan with a certain rate. It is most likely something like a 5/1 ARM not a 30 yr fixed or something like that.
As for lenders, Pentago Federal Credit Union.
ParticipantIm sure the catch is that you arent comparing apples and oranges on loans and just see a home loan with a certain rate. It is most likely something like a 5/1 ARM not a 30 yr fixed or something like that.
As for lenders, Pentago Federal Credit Union.
ParticipantIm sure the catch is that you arent comparing apples and oranges on loans and just see a home loan with a certain rate. It is most likely something like a 5/1 ARM not a 30 yr fixed or something like that.
As for lenders, Pentago Federal Credit Union.
ParticipantIm sure the catch is that you arent comparing apples and oranges on loans and just see a home loan with a certain rate. It is most likely something like a 5/1 ARM not a 30 yr fixed or something like that.
As for lenders, Pentago Federal Credit Union.
ParticipantIt is technically recourse but effectively almost any single loan in California isn’t recourse because of the “single action rule” (also called the one action rule). Lenders can take the house or go after your for the debt, but not both with that rule. They can go through a judicial foreclosure instead of a non-judicial foreclosure to get recourse but that is an extremely long and expensive process. To give you an idea of how rare it is the last person I can think of that almost got judicially foreclosed on was Michael Jackson.
As for the risks. The risk is that the property has some condition that makes it not lendable. Most issues are fixable, some aren’t (some title defects, land issues, or you sit on a nuclear waste dump). The other issue is that cash out refinances are much more conservative so you might only be able to get 60-75% of your money depending on the lender.
ParticipantIt is technically recourse but effectively almost any single loan in California isn’t recourse because of the “single action rule” (also called the one action rule). Lenders can take the house or go after your for the debt, but not both with that rule. They can go through a judicial foreclosure instead of a non-judicial foreclosure to get recourse but that is an extremely long and expensive process. To give you an idea of how rare it is the last person I can think of that almost got judicially foreclosed on was Michael Jackson.
As for the risks. The risk is that the property has some condition that makes it not lendable. Most issues are fixable, some aren’t (some title defects, land issues, or you sit on a nuclear waste dump). The other issue is that cash out refinances are much more conservative so you might only be able to get 60-75% of your money depending on the lender.
ParticipantIt is technically recourse but effectively almost any single loan in California isn’t recourse because of the “single action rule” (also called the one action rule). Lenders can take the house or go after your for the debt, but not both with that rule. They can go through a judicial foreclosure instead of a non-judicial foreclosure to get recourse but that is an extremely long and expensive process. To give you an idea of how rare it is the last person I can think of that almost got judicially foreclosed on was Michael Jackson.
As for the risks. The risk is that the property has some condition that makes it not lendable. Most issues are fixable, some aren’t (some title defects, land issues, or you sit on a nuclear waste dump). The other issue is that cash out refinances are much more conservative so you might only be able to get 60-75% of your money depending on the lender.
ParticipantIt is technically recourse but effectively almost any single loan in California isn’t recourse because of the “single action rule” (also called the one action rule). Lenders can take the house or go after your for the debt, but not both with that rule. They can go through a judicial foreclosure instead of a non-judicial foreclosure to get recourse but that is an extremely long and expensive process. To give you an idea of how rare it is the last person I can think of that almost got judicially foreclosed on was Michael Jackson.
As for the risks. The risk is that the property has some condition that makes it not lendable. Most issues are fixable, some aren’t (some title defects, land issues, or you sit on a nuclear waste dump). The other issue is that cash out refinances are much more conservative so you might only be able to get 60-75% of your money depending on the lender.
ParticipantIt is technically recourse but effectively almost any single loan in California isn’t recourse because of the “single action rule” (also called the one action rule). Lenders can take the house or go after your for the debt, but not both with that rule. They can go through a judicial foreclosure instead of a non-judicial foreclosure to get recourse but that is an extremely long and expensive process. To give you an idea of how rare it is the last person I can think of that almost got judicially foreclosed on was Michael Jackson.
As for the risks. The risk is that the property has some condition that makes it not lendable. Most issues are fixable, some aren’t (some title defects, land issues, or you sit on a nuclear waste dump). The other issue is that cash out refinances are much more conservative so you might only be able to get 60-75% of your money depending on the lender.
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