Posted by firegirl on 9/5/07 6:22pm
Msg #209534

what's a "title one" loan? Any insight would be appreciated n/m

Reply by PA_NOTARY on 9/5/07 6:34pm
Msg #209536

Re: what's a "title one" loan? Any insight would be appreciated

it is a home loan for improvements that will give you money up to th value of the home. it has pmi included in the payments.

Reply by firegirl on 9/5/07 6:39pm
Msg #209539

Re: what's a "title one" loan? Any insight would be appreciated

Is there anything about the docs that would be different from what you would see for a standard 100% LTV refi?

Reply by PA_NOTARY on 9/5/07 6:46pm
Msg #209540

Re: what's a "title one" loan? Any insight would be appreciated

it is an easy packge. you will probably have additional paperwork about the repair/replacement that the borrower will fill in and leave contractor completion page and envelope behind. is it e docs or over night pkg?

Reply by firegirl on 9/5/07 6:53pm
Msg #209541

Re: what's a "title one" loan? Any insight would be appreciated

I got an email from a signing co. looking for agents with experience in FHA/VA loans, title one loans, and reverse mortgages. I haven't heard the term 'title one' loan before but I have done plenty with PMI included in the payment. It does sound pretty straightforward, but wouldn't want to claim to have experience with something that I don't . Thanks a lot.

Reply by Linda_H/FL on 9/5/07 8:29pm
Msg #209558

Re: what's a "title one" loan? Any insight would be appreciated

LOL...read three threads up - sounds like Notary Pro is farming notaries.

Reply by Becca_FL on 9/6/07 12:04am
Msg #209578

Arrrrrhhh! It's a Home Improvement Loan.

Tell NotaryPro to hit the streets. They pay CRAP!

If you work for them, you work for CRAP.

Do you feel dirty now? You should!

Reply by Catherine/CA on 9/6/07 11:12am
Msg #209606

Re: what's a "title one" loan? Any insight would be appreciated

This was a hot product back in 1995 and 1996 and what I cut my teeth on when I first started signing 12 years ago. Its not based on equity but is a government insured program that will lend a home owner up to $25,000 to improve their property. They are very strict with this; it can ONLY go to home improvements. It cannot be used for debt consolidation.

Most of the package will have the standard stuff you've been used to. However, there will be an estimate that the borrower will need to complete.