L I Funding Corp

04/18/2022

As perspective ...each one percent averages $60.00 per one hundred thousand of mortgage increase to a monthly payment. As an example a 2.5 % percent increase in rate on a $400k mortgage is a $600.00 per month increase to a buyers monthly payment. That same $600.00 a month in home price buying power is $120,000.00 at the new rate. It means a buyer needs to make an extra $1500 a month or $375 a week to qualify for the same house. This is something all sellers, buyers, investors, realtors, originators should consider and be discussing seriously as there more increases coming.

Where does your transaction stand right now; how will effect your goals and plan?

Perhaps it's time to get the calculator out? Make some calls.

07/01/2021

July 31 2021 the date for a hopeful final end to the illegal overstepping act of the CDC that allowed tenants to not pay at will; sending many mom and pop landlords into delinquency and sometimes bankrupty and foreclosure. Here in NY it is yet to be heard what will happen as our govern has chosen through all of this has ignored all outside legislation and recommendations regarding the rent collection moratorium, and instead backed free-loading off landlords as a new income source for renters.
This is such a shame as it reflects so badly on those tenants with principles, who have been paying and or worked out arrangements with their landlords.

INMAN ARTICLE EXCERPT Below :

The Supreme Court expressly stipulated that should the CDC wish to extend the moratorium any further, it would need to do so with the approval of the legislative branch.

“In my view,” Kavanaugh wrote, “clear and specific congressional authorization (via new legislation) would be necessary for the CDC to extend the moratorium past July 31.”

06/30/2021

UPDATE. Forbearance lessens but on June 30 700,000 mtgs are due to expire out of their programs so let's see if July brings in recoveries or new future inventory. One important thing to keep on mind for New York Investors is that this time .....short sales will be hard to find as prices have created deliquent loans on homes with new found equity.

Forbearance activity is declining again, according to the latest data from Black Knight, which has been tracking COVID-related forbearance volumes since near the onset of the pandemic. The dip, significant at 71,000 or negative 3.2%, comes on the heels of two consecutive weeks of slightly increasing numbers. As of the start of June, 2.12 million or 4% of residential loans remain in COVID-19 associated forbearance plans. By type of loan, 2.4% of Fannie Mae/Freddie Mac-backed loans are in forbearance, as are 7.1% of Federal Housing Administration/U.S. Department of Veterans Affairs loans, and 4.7% of portfolio/private label securities loans. For all loan classifications, the numbers dropped. Both forbearance plan starts and restarts experienced noticeable declines, according to Black Knight's McDash Flash daily performance data for the week. That was driven by the expiration of many plans at the end of last month. This is a milestone month for tracking forbearance numbers as 700,000 plans are scheduled to expire at the end of June, which marks the final quarterly review for early forbearance entrants before they reach their 18-month expirations later this year. Authors at the Black Knight blog say they will be "keeping a close eye on exit activity in coming weeks, particularly in the first week of July." Source: MReport

11/20/2020

11/04/2020

We drove over to my buddy Kirk of SQ4D in Calverton to check out the SICKEST project that he's working on right now. Ladies and gentleman, as the title says,...

10/25/2020

I finally taking a breath to to upgrade my business FB page and get it up and running. I know this a project well over due ... the price of insecurity when embracing the new or change.

Maybe you are a home buyer wanting a diamond in the rough so as to offset these high home prices or because you want things done your way. Maybe you are an investor and this is your business model. But no matter which you are, you just don't have the knack of vision ... that's when you call on me.
I believe there is a home in every house and can a I see it trying to shine through. Sometimes this means thinking inside the box ; sometimes it means thinking outside box; and sometimes it means building a better box.
I find diamonds in the rough and help turn them into polished gems. Contact me, if I can help you.

10/16/2020

Here is pro tip for investors..work backwards into your offer. Take your resale price (ARV) minus soft costs, rehab, contingency, profit equals offer ..that's it. Highest and best is for newbies as a seller is under no obligation to send a request for this and may just go with someone else first. Secondly most pros dont go up on their offer ..why? Because for you to go up means rehab goes down which effects ARV which lowers your profit or if you go up and keep rehab the same then profit takes the direct hit. Lastly if you know your numbers then you can place offer and move to the next ...this is important as more offers equals more wins.

09/23/2020

Zillow Becoming to Realtors what Amazon Became to Store Owners

06/27/2020

Investors Should feel confident about the rest of 2020

I'm not one to usually post though I 've been seeing and hearing so much negative I thought I'd throw in my 2 cents in what I know to be true . These numbers show a strong market where buyers and sellers found a way to increase year over year sales even during the pause .

03/03/2020

Here are some thoughts to consider when you are pushing forward
yet feel blocked or getting pushed back . Also remember though there are those that are true, do you support you, never take these relationships for granted.

I really like Trent's straight in your face, action based , not just motivational posts . I don't share often, though I see this as people work succeed... it is important to identify what seems like a negative action, remark that is really support, coaching from those made to cast doubt and or hold you down or back.

10/17/2019

Totally Remodeled 4 bedroom 3 full bath finished basement garage mins frome beaches parks with quick access to train and major hwys