Posted by: Bonnie Phelps | November 7, 2015

Loans for Palomar!

bobby askari pic

After a long, dry spell, yesterday, we got confirmation that most of Palomar has the newly required documentation for loans.

This means that if you would like to buy a home or cabin, or refinance and pull out some equity, you should be able to do that!

Just over a year ago, lender guidelines changed in the United States.  I’ll never forget the call from Bobby Askari Fall of 2014, when we were just about to close two escrows. He told me that Fanny Mae and Freddy Mac had new rulings requiring “deeded, plotted easement for all roads that are not County maintained”.

All these years, any property that did not front on Crestline, showed up on title reports as landlocked with physical access only.  Even though the roads were there and property owners had driven to their cabin for nearly 100 years, the documentation had not been uncovered for title companies to draw out the little dirt roads that connect Crestline and Birch Hill.

More details to come on how this has worked out, meanwhile, we can do it!  If you own a home or cabin on Crestline or Birch Hill, and would like to refinance, you should be able to do that now.

If you would like to buy on Crestline or Birch Hill and need a loan, there are other guidelines, of course, but we should be able to get you rolling, funded and confirmed.

We all owe a debt of gratitude to lender, Bobby Askari who got the ball rolling for plotted roads.  He found title rep Jeff Knapp and we worked with so many others that contributed to this progress for Palomar!

Here is Bobby’s contact info:

Bay Equity Home Loans

Bobby Askari, Sr. Mortgage Loan Officer

619-889-9024 Direct   866-596-6195 e fax

NMLS#223072

Together we are making progress for Palomar!

Bonnie Phelps


Responses

  1. Good work Bonnie! It’s been a long row to hoe.


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