Home Buying in 60639>Question Details

Javy1415, Home Buyer in Elmwood Park, IL

I'm currently a home owner wanting to buy a bigger home. What options do I have with a modified loan on my current home? Don't want to owe

Asked by Javy1415, Elmwood Park, IL Thu Apr 4, 2013

the bank.

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Answers

10
Evelyn S. Fred’s answer
Hi Javy,

I would suggest you contact your lender.

As previously asked, do you want to sell in order to buy another home? OR Do you want to keep the home as an investment property for cash flow? Need details.

Good luck!
0 votes Thank Flag Link Sat Apr 6, 2013
With not enough details, what the size of your home is, what you paid for, how much you still owe the bank, i.e. can you sell and have after all expenses net to seller, what do you want to buy, how big and where and what price range are you thinking.

Too many items to be clarified in order to give you a good answer as a Realtor, and a lender would be
in the very same situation. Would you like to be connected with a good Realtor and lender in the Elmwood Park area to discuss and find a good solution for YOU?
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
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Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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0 votes Thank Flag Link Fri Apr 5, 2013
Do you like to stay in the same area or to move away? What are you looking for in new home? Did bank offer mod. plans for you? How is your credit? Send more info... Thank you! TV@REMAX.net
to find: Foreclosure, REO, Short Sale, all MLS. Visit: http://www.TVBuySellRealEstate.com
One Stop Real Estate: Buying, Selling, Renting. Likes: http://www.facebook.com/TVRealEstate
0 votes Thank Flag Link Fri Apr 5, 2013
If you have a modified loan , you will be denied in a new loan , because you can afford it .
Do a shortsale in you house , if you are not behind in the payments and you keep making the payments you can buy after the shortsale close with an fha
Si tienes un prestamo modificado , lo mas posible es que tu prestamo nuevo sea denegado ...por que ? Porque no puedes pagar el que tienes ahora asi es como estos bancos piensan hoy en dia ...mi consejo es que hagas una venta corta shortsale y si no estas retrasado con los pagos actualmente vas a poder comprar una casa seguido con un fha
Saludos
0 votes Thank Flag Link Fri Apr 5, 2013
Speak with a lender and see about refinancing your loan.
0 votes Thank Flag Link Fri Apr 5, 2013
speak with a qualified lender to see if you can refinance your loan first. Too many variables at this point to give you accurate advice.
0 votes Thank Flag Link Thu Apr 4, 2013
Javey, can you tell me a bit more about what you want to do? I am not sure I understand, from what you have provided, what your intentions are. I want to give as good an answer as possible.
thanks.

Dave
0 votes Thank Flag Link Thu Apr 4, 2013
I'm thinking of renting the current home I'm in. Want to purchase a new home. I
honestly don't think I will make any profit selling my home. It currently needs some updates in the kitchen as well as the main bathroom. Its just upsetting to see all these rehabbed houses going for sale now for around the same price I purchased my home the first time around.
Flag Thu Apr 4, 2013
I would suggest that you go to my website and seek out my featured partners area. I work with a great mortgage broker Mark Fritsch from BMO Harris. He has the answers that you will need. Then of course you can use my website free of charge to assess your current homes value. If you need any help or have any questions, please feel free to call me on my cell phone at 773.810.9646.
0 votes Thank Flag Link Thu Apr 4, 2013
Javy
You can refinance your current home as long as it is not up for sale, is it your intention to keep the current property and buy another? For me to tell you what your options are I would need to check your credit and review the financials to give you specific options.
Please call me to discuss
Andrew Mabadi
Primelending Mortgage Banker
847-612-8756 cell
0 votes Thank Flag Link Thu Apr 4, 2013
You can refinance to a lower rate or sell your home in order to allow you to purchase a new one.

Every deal is different - feel free to contact a lender so you can get accurate info pertinent to your specific needs.

Contact me should you need any help.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Thu Apr 4, 2013
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