John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,)

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Rainmaker
5,387,689
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

a niche mortgage product!!  hmmm.... when I was actively listing subdivisions, I had a product from a local bank .... this product was held in-house....they locked in a rate for up to 9 months!!!  that allowed all parties to sleep at night!

Feb 28, 2018 12:50 PM
Ambassador
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Tell us more, John.  Link to a blog post, or website?  TIA

Feb 28, 2018 12:54 PM
Rainmaker
1,350,105
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not that I can recall John Meussner 

Feb 28, 2018 06:11 PM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

You bet it has. I hear there are some very creative ones coming about again. I would love to know about them.

Feb 28, 2018 03:18 PM
Rainmaker
1,306,432
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm starting to get familiar with them as I've been looking at using one if I could just find something at the right price point.

Feb 28, 2018 03:09 PM
Rainmaker
455,315
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Loans for manufactured home (Class C) doublewide with block founfdation and the title retired is a niche that we a lot of. We're aproved with a couple of lenders that offer the bank statement program but haven't closed one yet. 

Are the rates you can get with your lenders on the bank statement program attractive to your borrowers? 

Feb 28, 2018 02:20 PM
Rainmaker
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

No, but I have had the opposite happen ... approvals and assumptions made that in the end caused the transaction to die. 

Feb 28, 2018 01:37 PM
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3,719,361
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

No but, I may be phoning you in the next week or so about a buyer who is likely going to need one! Thanks for the heads-up that there may be hope if this deal falls apart due to condo ratios.

Feb 28, 2018 07:40 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

It is good to know what the options are, nice that you knew how to save the deal John.

Feb 28, 2018 06:17 PM
Rainer
271,262
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Cash saved one, when the seller would not let my buyer's appraiser in to appraise the home.

Feb 28, 2018 05:55 PM
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3,301,539
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Not that I can remember...

Feb 28, 2018 03:32 PM
Rainmaker
1,618,500
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Yes it has saved the day. I think too that it's just the way the LO learns to handle themselves. What seems easy to one is not comprehended by another.

Feb 28, 2018 03:11 PM
Rainmaker
3,636,789
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

That niche is small but necessary these days. Years ago Prudential Mortgage, when they where in business, had a quick approval, no verification loan that had few defaults. It worked well for the self-employed and those people who had cash income. 

Feb 28, 2018 02:50 PM
Rainmaker
4,919,903
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John,

I look forward to reading your post on the subject.  A

Feb 28, 2018 02:00 PM
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I have not had the need for this product in a long time, John. But will now be putting my lenders' feet to the fire if I ever do.

Feb 28, 2018 01:21 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Many times.

Feb 28, 2018 01:17 PM
Rainmaker
4,381,679
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Several years ago a buyer called and wanted to get out of their rental, but they had a short sale from a previous home.  They used a reverse mortgage purchase, and they were able to own again.

Mar 02, 2018 01:48 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Meussner - I do not recollect any such mortgage for my clients.

Mar 01, 2018 10:44 PM
Rainer
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Erik Lilyquist
Allied First Bank, SB - Scottsdale, AZ
Mortgage Specialist, including the Reverse

the loan you described is great for the self employed borrower.   We all know that an accountant will help maximize deductions therefore showing little income.   I think that a bank statement loan is a great way to save the day.  Just because you are self employed shouldn't exclude you from getting a loan.    I have used this loan before to save one of my self employed, taking him from a $1200 monthly PITI payment and a $800 HELOC payment combining the loans into a nice lower monthly payment, saving them hundreds.   Best pool guy in the area,  he has helped me, glad I could help him.  

Mar 01, 2018 08:34 AM
Rainmaker
3,066,356
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No

Mar 01, 2018 07:28 AM
Rainer
22,254
Andrea Moore
The Mortgage Market of Delaware - Lewes, DE

Yes!

Mar 01, 2018 06:46 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Yes, and good job.

Mar 01, 2018 05:26 AM
Ambassador
2,020,656
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Yes, I'm currently working with a buyer who is getting a loan from a private lender. 

Mar 01, 2018 04:17 AM
Rainmaker
2,004,006
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Exotic lender for class D borrower can be a lifesaver. Or seller financing. Have had to call the financing bullpen to put one relief pitcher on the mound to get to the real estate closing on time (or at all) John Meussner !

Mar 01, 2018 04:01 AM
Rainmaker
1,506,571
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Yes:)

Feb 28, 2018 11:28 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

with the amount of crazy in my market... oh yes.  Friday we close on a manufactured home on a lease lot.  so OH YES.

Feb 28, 2018 08:59 PM
Rainmaker
1,411,227
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John Meussner Yes, a mortgage friend helped my Son and his Wife get a get a fantastic loan.

Feb 28, 2018 04:20 PM
Rainmaker
3,985,581
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not that I can remenber

Feb 28, 2018 02:52 PM
Rainer
162,565
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

There are so many players for this product.  But there are few with fewer restrictions otherwise this product is not that easy to use.. 

Feb 28, 2018 01:41 PM
Rainmaker
775,652
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Not familiar with the product, so it has not performed any miracles for me as yet.

Feb 28, 2018 01:31 PM