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Hi Everyone,
I am new to vendor financing/wrapping and have already bought a copy of “Home Loan Analyser Deluxe”.
Can someone recommend any other software that will help to keep track of the rents, interest payments, etc of investment properties? A long time ago I was recommended something by Quicken! Also, what about some software to keep track of when payments are to be made such as for rates and insurance and I’m sure this software will also show up people’s birthdays, anniversaries, etc.
Thanks for your replies.
Shaan Ching
Darren,
Thanks for your reply but the other night I was at a meeting of the WRAPS Assn (?) in Burwood and they had a guest speaker, Robert James from Mortgage House (Ph: 9824 1977). He told us that under the Uniform Consumer Credit Code and Privact Act it is illegal for anyone other than the person involved to look at that guy’s credit report unless you pay the 1300 bucks to Baycorp which will then be legal! I have already got some Baycorp reports from others – till now!
Also along those same lines it is now illegal to store/fax someone’s details with the TFN (tax file number) visible. In other words, it should not be visible to anyone not specifically authorised to view!
Anyone else got any comments on this credit check business?
Shaan Ching
Steve,
For a beginner, what is the best and cost-effective way of checking up on a person’s credit history and rating? I know I can pay about 1300 bucks initially to Baycorp.
I only learnt yesterday that it is illegal to receive someone else’s credit report – even if it is posted/faxed by that person!
Someone suggested that I look at this person’s rental history for the past 2 years. Yours and anyone else’s comments will be most welcome.
Shaan Ching
Can anyone recommend some good banks/financial institutions/brokers for wraps. I have been in contact with Greg Levett of Advance in Five Dock. He gets the financing thru’ GE Mortgage (?) but I would like to have alternate back-ups as well as compare features and benefits.
GE does no doc/low doc loans but the interest rate is slightly higher which is offset as they do not charge LMI (lenders’ mortgage insurance).
Shaan Ching
