We owe too much on a truck..way more than it’s worth..it’s financed as a second mortgage.(Commercial Loan) ?? What would happen if the truck was totaled? Would the insurance company pay for what we owe on the truck? Just curious.

I do NOT need listing services like craigslist. I need information about insurance requirements, setting up personal finances to account for rental income, tax implications, etc.

http://www.samesexmarriage.ca/legal/ontario_case/appeal/pride_week_marriage.htm
clearly states:
“When (gay American) couples who marry in Canada come home — they will be as married as any people on the planet. That means, for example, the couples will identify as married on applications/forms for jobs, apartments, credit, mortgages, insurance, medical treatment, and taxes.”

That’s a quote from an article on June 13, 2003.
It clearly states that direct & loud. A gay marriage from Canada is recognized everywhere in the U.S.!
It clearly states that. That’s a quote. A direct quote.

yet I am hearing people tell me that this is not true.

but if it’s not true…….
How come Canada advertized commercials to invite gay Americans to get married in Canada?
http://www.youtube.com/watch?v=LvE5RWeCXr8

and how come so many Americans traveled to Canada to get married?
and don’t tell me "it was for ceremonial purposes" because if it was for ceremonial purposes it could be done from the U.S., no need to go to Canada.
Even Wikipedia’s take on it says:
"Canada and the U.S. have a history of respecting marriages contracted in either country."

I only need the insurance to qualify for a business line of credit, so the amount to insure only needs to be ,000.00 (as opposed to 1 million that I keep getting quoted for a premium of at least 0.00

I am looking at buying a 90 unit storage unit facility. It is fenced and does not have power/water to the property. I’ve seen the 2006 & 2007 taxes for the property. They claim the gross income appr. k (both years) They are asking 9k for it. I spoke with my lender. I have to come in w/ 30% for a commercial loan. I’m considering offering 5k, so I would bring ,500k via 1031 exchange. My loan amount would be 7,500. With a loan of 7.3% so payment of 50. So they average k a month. But taxes/insurance/other expense eat up about 0. Do you think it’s worth the hassle for 0 a month? The units are about 15 miles from my house. I currently work a full time job and not sure if I want to take this on. My job is flexible so I could leave during the day to meet people if needed. Any other investors opinion?
I have researched starting from scratch. 1 acre of land (the units sit on 1 acre) is appr. 0-160k, the units to be built are appr. k each (3 buildings) For a total of 5k. The units have the potential at full rental to make k.

My sister put money down on a home that was listed as residential property, it was infact a duplex that she planned on moving into both halves and eventually making it into one home. She got approved for the loan, sent the check to the insurance company, and put the money down, and when she got it appraised, the guy told her that it was commercial property and couldn’t get the house unless she put 20% down. She cannot do that, and the insurance company and real estate places have already cashed their checks. She is very interested in owning this home, what can she do? (it was listed as residential property i believe, this is her first time buying a home, and she needs a big place.)
The house is listed as residential-multifamily, and the appraiser came in and said it was commercial. It is located in eau claire, so is there anything that she can do?

I am a licensed commercial real estate agent in phoenix, az, and am interested in providing insurance and mortgage services to my clients,essentially I want to be able to shop 5 lenders/insurance companies to provide my clients the best deals.

How do I identify 5 banks/insurance companies that do commercial transactions?

How much money can I make by providing these additional services assuming that all transactions are more than 300K ( for loans + insurance)

Thanks

http://www.washingtontimes.com/news/2008/oct/18/whistleblower-hits-obama-friends-appraisal/

"In a complaint filed Thursday in the Circuit Court of Cook County, Kenneth J. Connor said that his reappraisal of Rita Rezko’s property was replaced with a higher one and that he was fired when he questioned the document.

Mr. Connor, a real estate and commercial credit analyst at the Mutual Bank Corp. in Chicago, also noted in the complaint that the bank received a grand jury subpoena in October 2006 requiring it to produce information concerning Mrs. Rezko’s purchase, including the bank’s files on the property.

The complaint also said that the grand jury wanted information on Mrs. Rezko’s checking account and loan file and that the Federal Deposit Insurance Corp. (FDIC) had audited the Rezko file – although Mr. Connor’s lower reappraisal had been replaced with a higher amount. "

My sister put money down on a home that was listed as residential property, it was infact a duplex that she planned on moving into both halves and eventually making it into one home. She got approved for the loan, sent the check to the insurance company, and put the money down, and when she got it appraised, the guy told her that it was commercial property and couldn’t get the house unless she put 20% down. She cannot do that, and the insurance company and real estate places have already cashed their checks. She is very interested in owning this home, what can she do?

The house is listed as residential-multifamily, and the appraiser came in and said it was commercial. It is located in eau claire, so is there anything that she can do?

And will she be able to get the money back from the insurance company and real estate place, i told her yes, be she thinks that they wont do it. What do you think? And what do you think she should do?

I am a licensed commercial real estate agent in phoenix, az, and am interested in providing insurance and mortgage services to my clients,essentially I want to be able to shop 5 lenders/insurance companies to provide my clients the best deals.

How do I identify 5 banks/insurance companies that do commercial transactions?

How much money can I make by providing these additional services assuming that all transactions are more than 300K ( for loans + insurance)

Thanks

I am a bit frustrated. I have been in sales for about 10 years, auto sales, then mortgages(loan officer and an account executive for a lender) The company I worked for recently went out of business and I have been looking for a golden opportunity to come my way, but it is much tougher than I thought. It may sound cliche, but I don’t really care what I am doing, to an extent, if the money is there. I have been looking into pretty much all sales fields, insurance, real estate(commercial and residential), medical sales, recruiting, investments, etc, but have not found what I am looking for, which to tell you the truth I am not really sure what that is. I am still young(28) and am willing to start over in an industry and pay my dues, I just don’t know where to look, as far as industry goes. I am a hard worker and am educated, I just want a career with a lot of potential. Any help? Thank you

One question I have is whether a cap rate of 8% is good for a cap rate of 8% is good for this type of property:

Also, where do I find people interested in buying such a property? Can I contact you for more questions?

NET LEASE INVESTMENT

20,000 SF CENTER

BUILT 10 YEARS AGO

PROPERTY LOCATED IN AFFLUENT DEMOGRAPHIC NEIGHBORHOOD..MEDIAN INCOME ,000 PLUS.

WITHIN 1 MILE TWO REGIONAL HOSPITALS

ABOUT 200 FEET FROM WALGREENS.

TENANTS INCLUDE 4 MAJOR NATIONAL FRANCHISES..ONE REAL ESTATE..ANOTHER HAIRCUTS, ANOTHER TAX PREPARATION, ANOTHER COFFEED AND DOUGHNUTS AND A MAJOR NATIONWIDE INSURANCE COMPANY FOR HOME AND AUTO..
GREAT VISIBILITY & ACCESS

STOP LIGHT INTERSECTION

SELLER ASKING 4.5 MILLION DOLLARS

I just read the entire text of President Bush’s address last night and I grade his effort "D" at best. He did not make the case that needs making.

Here’s the real skinny and what I think President Bush should have said and one —

My Fellow Americans:

The annual yield on treasury bills fell yesterday to 44 basis points. at times yesterday, it was negative. This shows that companies and people with more money than FDIC insurance covers aren’t willing to deposit it at the banks, nor are they willing to buy commercial paper with it.

Without funds from deposits or commercial paper, the banks don’t have the money to make ordinary loans to their regular customers, even if the regular customer’s credit is good. I’m thinking of the local grocery store that borrows on Friday to pay their employees and repays the bank each Monday from the weekend’s receipts.

Without funds available to the banks, they can’t make even good loans to regular customers.

Many people think the bank’s executives and managers should be fired for making all these bad mortgage loans and thus they want to deny this bailout program until the banks are being run better.

America does not have the time to wait for that to happen.

Booting the bank managers would require us to let the banks fail first. It is illegal to simply take over the banks unless and until they stop functioning.

If the banks stop functioning, America’s payments mechanism would stop.

That means that your credit cards, your debit card, and your atm card would not work. No one would take your check because they couldn’t know if your bank will be able to pay it tomorrow.

If that happened, you would not be able to buy groceries or gas or anything unless you had actual cash. This would cause the total volume of sales to plunge, perhaps to only 1/3rd or less of regular levels.

And then employees would be laid off, and every business that couldn’t withstand a huge decline in sales would go bankrupt.

If you and your extended family has four workers in all, I’m talking about one of them losing his job and a second being told her wages are now 1/3rd less than what they were, or she loses her job too.

This is what we must prevent — America’s payments mechanism must continue to operate.

If this means that we have to accept that some executives and managers who deserve to lose their jobs get to keep them because they are also the payments mechanism, that is a price we simply have to pay.

Loans whose value is unknown must be reduced to less than the amount of capital each and every bank has on hand. Since the financial markets have already shown that they will not provide more capital to the banks, someone has to remove the questionable loans from the banks’ assets.

This is what the program my administration has proposed will do.

And the only entity with enough size to do that for the entire economy is the Federal government.

To make sure there is enough time for Congress to act, I have asked the Securities and Exchange Commission and Federal Reserve to immediately declare a banking holiday. They have agreed to do this.

All banks, stock markets, futures markets, stock brokerages, and similar enterprises all across America will be closed tomorrow. They’ll stay closed until Congress acts.

It is very likely that your credit cards will not work tomorrow. Your debit cards and atm cards probably will not work either. And stores may refuse to take your check.

Banks and markets will re-open when there is reasonable assurance for their depositors and ordinary creditors that these weak assets will not cause the banks to fail and take away their deposits and short term lendings.

Our prayers are with America tonight and every night,

thank you and good night.

***
Well, that’s what I think the President should have said and done –

what’s your opinion?
I started working in banking in 1970. along the way, I earned MBA and CPA. I’ve seen economic booms and busts related to real estate lending since my first bust in 1973.

This is by far the worst situation since then.

Today on the news they were just telling us the American people what their plan was. Obama seems to be content with it so i dont know. But
i must say this doesn’t sound like what i thought he was trying to do.

Federal Deposit Insurance Corp. Chairman Sheila Bair said she expects her agency will finance as much as 0 billion in purchases of residential and commercial real estate loans.

okay so let me get this right.. The banks screwed us cause well their good talkers. Screwed themselves. We pay money we dont have. Alot of americans lost their homes due to greedy banks and people making us loose our job and our homes in forecloser. And now with our money they buy our homes with our money?

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=12618169&ch=4226720&src=news

Wouldn’t it been better to just buy the houses from the start and let us stay in their and have some sort of i.o.u. policy?

what do you think?

Conventional mortgages with a loan to value greater than 80% require some type of private mortgage insurance?
True or False

I own office space that I run a insurance agency out of, however, i don't file a schedule C as I am considered an employee. The office is owned by my LLC. I have depreciated the space, but I can't find where the mortgage interest falls into the tax situation.

I would like to buy a 8-unit apartment building for 3K

from what i have found most lenders want about 20% down.
Can i find a lender with little or no down payment?
I can pay other things like prepayed insurance, escrow, ect. but the 20% is kind of high.

Can anyone sugest any lenders?
Any sugestions?

I had asked this question in 'Real Estate', but it was suggested that I post it here has well. Unfortunately, my Mother was diagnosed with lung cancer at the beginning of the year, in her will, she has left her house to me, where my family and I currently live as we have cared for her for years. There is a loan on the house which is through a private lender, and there is no death insurance on that loan. The loan i

I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it

This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )

PS: My Health Insurance wont cover a thing. Thanks : ]