Use InBedrock.com to fully understand + analyze all real costs of homeownership, including purchase price, down payment options, closing costs (title insurance, bank fees, inspection/appraisal, legal), mortgage financing- interest rate, term, points, pre approval requirements, RE Taxes, HO Insurance, utilities/maintenance/condo fees, selling costs (broker commission, capital gains tax, state transfer taxes). InBedrock.com is educational, in-depth, easy-to-understand. Invaluable especially for serious first-time homebuyers.... more
Commitment letter and Ernest DepositI chose a home for purchase. The seller me a contract unless I submitted a commitment letter within seven days. After purchasing the home inspection, the roof was bad and leaked. The pool
Looks like you learned the hard lesson of buying a house that you could not afford and you should have rented instead. Now you want advice for doing the same thing again? You're nuts! You need to rent instead of buying. If you have no money, you don't deserve to repeat your mistakes.
You can check local county or city organizations for down payment assistance.... more
This a question that has to go an attorney. No one can answer this without reading every bit of the language in the purchase contract and no one but an attorney can really explain what all of it means to you.... more
There is a wonderful program called NACA. The website is NACA.com . They provide no money down and no closing cost financing. They work with major lenders. They do not base their decision to lend based on your credit score.
It is a free, nationwide, educational and financial counselling program.
If you would like to sign up for it, let me know and I can assist you with the registration. 845-820-7166... more
No. Lenders review a buyer's credit history and FICO credit score. If you take a cash advance it will add to your debt and lower your FICO score - something lenders don't like. This will be a reason you get denied for a mortgage.
Lenders want to see buyers save money from their paychecks for a down payment or you can receive a gift from a relative. Another option is to withdraw from your retirement account but I strongly don't recommend doing this. Realtors and lenders are OK with this but they are not the ones who will suffer the consequences if you withdraw from your retirement accounts. So don't do it as the consequences are high.... more
It sounds like you may have a back up offer, not a back up contract. In many situations there could be a number of back up offers. I would clairfy this with your Realtor.
Contracts are sent from the seller's attorney to the buyer's attorney, the buyer then signs the contract, the contract is returned to the sellers attorney and then the seller signs the contract. Sometimes there are changes made in the contract, as well.
Please keep in mind that just because there is a higher offer, does not mean the terms and conditions of the agreement are strong. That is for the Realtor to discuss with their Seller Client.
As far as how you should proceed, this is something that needs to be discussed in detail with your Realtor.
Every rental is different and Landlords may have different requirements. A rental listing should list if utilities are included, if not, then contact the Landlord or Realtor that has the listing. Some Landlords may not allow pets, but maybe if you ask the Landlord if he/she could meet your pet, it may help. You might also want to ask if the Landlord would accept additional money to be put aside for any potential damages or repairs that would need to be taken care of when you move out.... more
Have you found a Realtor to help you sell your house? You might want to try renting in Florida first and also make sure your husband secures a job. You don't want to be moving with too many uncertainties. I would research a number of things online, such as areas that have postions in your husband's field of work, as well as scholl district information. Do you know anyone that livs in Florida? You may want to seek advice fro them as well. Pick a few areas that may be of interest and contact a local Realtor for additional detailed information.
If you haven't found a Realtor to assist you with the sale of your home, I would e more than happy to recommend one for you.... more
I suggest that you speak to your Agent. In my opinion, you should have had a final walk through, this way you could have seen the contents left in the house. Not too sure about the pet stained carpet, were the stains there when you put an offer in the home? Get advice from your Agent or Attorney.... more
What you'd need is a 'foreign national loan', those do exist, and you should be able to find one. Unfortunately we do not do them so I cannot help you directly. They want a larger down payment than normal, and good credit, and be prepared to have a third-party translator translate any documents into English so the underwriter can understand them if they are in a foreign language. Good luck.... more
Cash out refi with 5 mortgages propertiesI have tried 3 unsuccessful times to do a cash out refi on one of my 5 homes. We get past the appraisal and then a week later I am told that it is a Fannie mae rule that they cannot do the