BEST ANSWER
Cyg,
Home Seller, Saint Augustine, FL
I would love to swap homes for something smaller. You would like to upgrade, I would like to downsize. Although we are not in the same city, there must be a way for this to work anywhere. There must be someone there who would also like to downsize. You buy theirs, they buy yours. We must think outside the box right now. Good Luck
Frank Olguin,
Mortgage Broker or Lender, Fort Lauderdale, FL
D,
As a direct lender, we dont have as strict guidelines as your traditional banks or correspondent mortgage brokers. Please call me for private consultation and I would be happy to explain all of your options. Whether you can get another loan approved involves many factors. Mostly, credit score, taxable income, debt ratios, loan to value ratios of your new property- not your old!
PS- also let me know if you currently have an FHA loan.
regards,
Frank Olguin
Mortgage Banker
AmericaHomeKey Inc.
500 W. Cypress Creek Rd.
Suite 330
Fort Lauderdale, FL 33309
Folguin@americahomekey.com
Office 954-771-7715 x104
Cell 561-386-9731
As a direct lender, we dont have as strict guidelines as your traditional banks or correspondent mortgage brokers. Please call me for private consultation and I would be happy to explain all of your options. Whether you can get another loan approved involves many factors. Mostly, credit score, taxable income, debt ratios, loan to value ratios of your new property- not your old!
PS- also let me know if you currently have an FHA loan.
regards,
Frank Olguin
Mortgage Banker
AmericaHomeKey Inc.
500 W. Cypress Creek Rd.
Suite 330
Fort Lauderdale, FL 33309
Folguin@americahomekey.com
Office 954-771-7715 x104
Cell 561-386-9731
Web Reference: http://www.americahomekey.com
You are suffering from an insatiable desire to overconsume.
Your entire premise rests upon the assumption that real estate will not get any cheaper from here.
What happens when rates go to 10% or 20%? You will be at the bottom of the ocean...underwater!
What happens when unemployment hits 30%?
Hello? There will not be a recovery because our creditors are going to stop funding Americas debt habit and their is no industry to recover with. Get it?
Again, no recovery. You are being lied to by the happy in ignorance crowd.
Your entire premise rests upon the assumption that real estate will not get any cheaper from here.
What happens when rates go to 10% or 20%? You will be at the bottom of the ocean...underwater!
What happens when unemployment hits 30%?
Hello? There will not be a recovery because our creditors are going to stop funding Americas debt habit and their is no industry to recover with. Get it?
Again, no recovery. You are being lied to by the happy in ignorance crowd.
Connie De Groot - (310) 913-1184,
Agent, Beverly Hills, CA
You should never spend all you can spend - that's what got so many people into trouble. Your mortgage or mortgages should probably not exceed 35 percent of your income. This is a more conservative approach towards spending but it is one that should prevent you from selling at the wrong time because you will be able to comfortably afford this financial obligation. Home prices could go down further with rates going up, more homes could come to market- there are so many things that cause prices to adjust. There will be opportunities down the road but please don't over extend yourself.
Coninie De Groot http://www.ConnieTheRealtor.com
Ph 310 913-1184
Coninie De Groot http://www.ConnieTheRealtor.com
Ph 310 913-1184
Sandra,
Both Buyer and Seller, Franklin, MA
Definitely do not give up. I have an answer for you. We are Home Free Real Estate Solutions. We offer assistance to individuals in your situation through programs designed to get you into home ownership even when they don't qualify for a traditional mortgage. It has been exciting to be able to offer solutions for the many situations that become barriers to buying and/or selling, and we work hard to help you get into the home you want. Please go to: http://www.greathomebuyingsolutions.com/. You can enter info about your situation there and I will personally respond to you; or you can call at the number shown there, and I will respond to you that way. The site will give you a lot of information, so you can see there are real options. All the best!
Sandra A.
Sandra A.
Web Reference: http://www.greathomebuyingsolutions.com/
Keith Sorem,
Agent, Glendale, CA
D
I suggest trying to work out an arrangement. That means talking with a few lenders and finding out what they will and will not do. Underwriting standards are more strict, so you may have to really, really work at it.
You need to be aware of your total debt to equity ratio. If you have a lot of other debt, it may not work.
I suggest trying to work out an arrangement. That means talking with a few lenders and finding out what they will and will not do. Underwriting standards are more strict, so you may have to really, really work at it.
You need to be aware of your total debt to equity ratio. If you have a lot of other debt, it may not work.
Joshua A. Lerette,
Mortgage Broker or Lender, Saint Petersburg, FL
D, the common misconception is that you can not buy another home unless you have at least 25% equity in your current home. Not True...if you do not have at least 25% equity in your home, you can not use proposed rental payments to offset the current payment. If you were to buy another home, you would have to qualify with both debts counting against you. If you are looking to buy in Florida, I would be happy to assist you further.
Joshua Lerette - The Tampa Bay Mortgage Pro
727-488-7355
Josh@TheTBMortgagePro.com http://www.TheTBMortgagePro.com
Joshua Lerette - The Tampa Bay Mortgage Pro
727-488-7355
Josh@TheTBMortgagePro.com http://www.TheTBMortgagePro.com
Web Reference: http://www.thetbmortgagepro.com
Jimmy Williams,
Agent, Eustis, FL
Hello D,
Not knowing your situtation, or how much upside down you are on your mortgage. One solution is to short sell your current home, and at closing you fund the difference. Using this method does not harm your credit, however you lose the amount of money invested plus the funded amount at closing. Not the most agreeable but is a suggestion to consider.
Jimmy Williams
Coldwell Banker Tyre & Taylor Realty, Inc.
2765 S. Bay Street
Eustis, Fl 32726
capstonejw@hotmail.com http://www.jimewilliams.com
Not knowing your situtation, or how much upside down you are on your mortgage. One solution is to short sell your current home, and at closing you fund the difference. Using this method does not harm your credit, however you lose the amount of money invested plus the funded amount at closing. Not the most agreeable but is a suggestion to consider.
Jimmy Williams
Coldwell Banker Tyre & Taylor Realty, Inc.
2765 S. Bay Street
Eustis, Fl 32726
capstonejw@hotmail.com http://www.jimewilliams.com
