Home Forum Contact Create an Account Sign In Create a Trust

Wells Fargo

This topic contains 6 replies, has 0 voices, and was last updated by Avatar of peter@amakya peter@amakya 7 years, 1 month ago.

Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
  • #6884
    Avatar of peter@amakya

    BTW where is everyone. Where did you guys go?

    In view of the New York Bankruptcy Court Ruling – MERS Business’s Model is Illegal, since then I have been set upon by Wells Fargo on practically every trust I look after!

    In the past few weeks has anyone noticed an urgent call seems to have gone out to the banks marketing departments to re-negotiate the old loans? The hook being lower interest rates.

    If this is done the past MERS issues will become a moot point, the new note obligating all the wrong doing.

    My view, great, we get a chance to get lower costs on many of the underlying loans.

    Here is the long read

    BTW where is everyone. Where did you guys go?

    Avatar of spunky

    As investor beneficiary, i know that property must be taken out and put back in trust to refinance. I have power of attorney for the settlor beneficiary
    Is there any way to refinance two loans with Wells Fargo which are in Nehtrusts without having to sign personally or to submit personal information or to purchase the property?

    Avatar of peter@amakya

    Provide the numbers work in your favour, then it is no big deal to finance in your name. You then open a few options which maybe hugely advantageous to your retirement pans, amongst which a house can be rented for the long term, producing income for years to come.

    The basic number for a rental to be a good profit center would be to take the rental income divide it by between 1.6 and 2, let’s take 2 for this example and multiply by 100. That would be the number you would be financing. Do this and the second rule of thumb begins to look attractive. The second rule of thumb, control 20 properties on the above basis and you are retired!

    Avatar of spunky

    Does anyone else have difficulty loggin in?

    I don’t want to take on the Settlor’s debt. I like control without it. I am just trying to figure out how to change negative cash flow to positive.
    Have you personnaly refinanced one of your NEHTrusts, with you as investor beneficiary? Please tell me the name of your lender who understands these trusts with EHC.

    Avatar of peter@amakya

    The whole premise of the Trusts is to take control without being on the note. The down side is very often one leaves transactions that pay big time. Houses are available at 50% of FMV and to finance these it the trick.

    Now back to your deal. If by setting up a new loan will change the numbers wherein you can make a reasonable profit, why turn it up?

    The bank I have used is Well Fargo and I’m in the process of doing a few within them. Why? Well the properties have been in trust in some cases for 10 years and the LTV is 70% and the existing interest rates run at 6.5 to 8.5%. A new loan brings the payments down and that generates as much as $300 per month per house. That is equivalent of finding new trust house.

    As I said, if you can do it, why turn the opportunity away simple because it does not fit your existing business model?

    Avatar of buzzbox

    If property can be acquired at 50% of fair market value, it seems to me that how legal and equitable title is being held, probably is moot for some lenders. They have a 50% equity cushion to soften the risk, assuming the LTV is at 50% also.

    If one is trying to convert an existing negative cash flow position to positive by refinancing to obtain smaller monthly payments to achieve it, they first need a cooperative lender and sufficient equity for it to make sense. Then, if the lender baulks at the idea of title being held via a land trust, the property must be conveyed by the trustee back to the original settlor, who then executes the new note and after closing transfers back to the trustee. This is course assumes that the settlor is available and willing.

    In my opinion, the IB should stay out of the public record and not directly apply for, or execute any loan documents, in order for them to preserve privacy and enhance asset protection. So what do you do if the settlor won’t cooperate, you are not prepared to sign and the lender won’t help? I’d try other lenders.

    On the other hand I wonder why there’s a negative cash flow – has the RB fled the transaction, or is this simply a rental property and there is no RB or SB any longer?

    If they are both gone then a more creative approach is needed. Here are a few thoughts:

    -Can a new RB be found to solve the cash flow problem or is that not workable in the present rental market
    -Can an additional IB be brought in to offset the negative cash flow, and/or to substitute for the original settlor SB, and thus sign on the new note.
    -Can a lender be found who will do a non-recourse investor type loan. If so then an LLC can be formed as the borrower to make the loan application and execute the doc’s. The IB could form and own the LLC as single member entity.
    -Can the lender make the loan in exchange for an equity position or for some of the future appreciation.
    -Can the property be short sold or traded profitably

    Avatar of spunky

    Yes Scott, you understand my question.
    I have 3 trusts to refinance and the settlors can not qualify. I paid their arrearages at the beginning when I started paying their NNN . Can you broker the refinance? If you can’t, can you recommend a NARS friendly lender who will do any of the other excellent suggestions in this thread? Is John Acquisto still working for NARS? Who replaced him? Please recommend a lender who will help me refinance and do any of these things.
     accept title being held via a land trust.
     will allow me to sign using the settlor’s power of attorney rather than signing personally. Then My LLC and the RB could cosign if necessary..
     will consider a non recourse investor loan, or maybe a commercial loan and bundle the three trusts..

    Avatar of abekrister

    When you have mounted sales application such as QuickBooks application or Peachtree Accounting for your organization, you can easily settle-back and also relax, while each of the human resources activities will be skillfully cared for. No matter the big as well as tiny size of the organization, the very best data processing software program just like Sage Software can guide you to spend your time and capabilities with regard to doing better points as opposed to managing company accounts. If perhaps you were inspired through the looked at putting in Sage Computer software or other sales software, then this will be the proper time to go ahead. There are numerous organizations within the The idea market that will include promoting the very best along with successful human resources software program at the most cheap pricing. When you buy these software program, it is important to think about the right after points.Choose the right productYou must choose the most appropriate accounting software program for the organization with respect to the height and width of your company plus your specifications. It is possible to pick from Peachtree Accounting, QuickBooks software or even Sage Application that are know for delivering exceptional outcomes. To produce your work simple popular software Solutions Business similar to A2R Remedies supplies custom-made software for various industries just like building, producing, distribution along with non-profit agencies. Expense EffectivenessAfter you have decided which usually particular data processing software you would want to put in for your enterprise, you are able to search for the purchase price tags of various organizations. Ultimately you must look around a little looking at the values offered with the different application firms, while price varies with regard to exactly the same product. Be sure that all of your demands would certainly us metThe data processing computer software models like QuickBooks application and also Peachtree Human resources are so substantial and also diversified. Therefore you’ll want to keep your total human resources requirement would be fulfilled. These kind of software programs can be found in many versions therefore make certain you opting for the right product which would’ve all the features you need. The main distinctions usually are – quantity of studies obtainable, supply management potential and amount of users allowed.Put money into good brandsAs you’ll find so many This companies which are available application items, therefore the option is unlimited in your case. Don’t get baffled among countless choices. Purchase software program from the respected organization which will assure accurate results and excellent after-sales-services. Easy to operateOne of the most important things to consider before choosing accounting software programs are to make sure that it is easy to work. Should you end up buying a product or service, which in turn calls for complex orders along with professional coping with, that not necessarily well worth the funds because you will must appoint a skilled person to deal with it. Fairly just confirm the using the program before buying to make sure that it will not need much time along with cleverness. Receive the one who will be ultimately working the software to check that.

    buy TamoSoft CommView For WiFi 6 Full cheap
    purchase Autodesk Inventor Publisher 2011
    install Altova StyleVision Enterprise 2009
    buy Graphisoft ArchiCAD 12
    install Microsoft MapPoint 2010 North America

    http://www.songs downloading.com seven seconds free download womanizer mtv download zelenoglazoe taksi free download wii games to download free vnes.jar download

Viewing 8 posts - 1 through 8 (of 8 total)

You must be logged in to reply to this topic.

Posted in
Contact Form
Your Fullname:

Email Address:


Best Time to Call:


Your Message:

Security Code:


Can't read the above security code? Refresh