In Michigan you usually have 30 days from the receipt of your personal homeowners policy to notify the agent or the insurance company of any discrepancies in the policy or it will be considered valid and accurate after the 30 days. You can call the comissioners office and ask them, they usually answer questions over the phone then will let you know what is the best way to proceed. Good Luck.... more
Hi Ferndale - I would contact the county tax office and find out who they are sending the property tax bills to. That person or bank is the owner. I think the house may have gotten lost in the foreclosure shuffle and HUD or BOA just cannot locate the information. The tax office will provide you with reliable information. Thank you.
Cindy Schlee, Realtor
I realized I never followed up. We were indeed under contract, but decided not to pursue any legal action. just wasn't worth it and we took it as a sign that the this wasn't the house for us. However, we found a new agent and a new loan officer.
We also noticed the house sold for more than what we agreed to on the accepted offer. I guess the seller just saw that he could get more money and found a way out---even though it was illegal.... more
good morning sherwood... the deed will transfer to you....seller's itle and transfer tax is the responsibilty for the current deed holder unless written to the contrary in the contract...i also suggest pulling a title committment without standard exceptions...just to make sure it's clear....if you do a title search, the title co. will charge you...a committment (as if you are going to reifnance..there's no chrage unless you close...
The smallest mortgage loan that my company will originate is $50,000. Most of the lenders (that I am aware of) in Texas require a minimum loan amount of $50,000-$60,000. I agree with Jason...your best chance will be with a small community bank or credit union that originates AND services their own loan portfolios. Best of luck to you!... more
Which scenario would upset you the most? If you bought a house this summer and the market deteriorated another 10% before things turned around or if you held off until next summer and pricing went up 10%??
No one knows what the short term future will hold in terms of real estate - from home prices to taxes to mortgage rates and qualifying guidelines. What we do know is that homes are now available for a fraction of what they would have cost a few years back, and mortgage rates are very low now for qualified borrowers.
I would recommend speaking with a local, reputable, bricks and mortgage lender to get a feel for where you are at financially (mortgage-wise). See what you qualify for now, and if your credit or debt situation needs some work then set up a game plan so that whenever you do decide to take the plunge you are able to take advantage of the best terms available.
Feel free to contact me if I can be of any assistance
Home Loan Consultant
Most of the homes I have shown in Ferndale or Hazel Park below $30,000 would be tough to live in without major repairs. Not sure if you would even have much luck with financing. Best bet would be a FHA 203K loan.....maybe find a roomate that has a last name of Villa?...as in Bob Villa? You have the right idea regarding home ownership but this may not be the right time for you.... more