If you foreclosed on your first mortgage, there may not be enough money from the foreclosure sale to pay the second mortgage holder. If there is equity remaining in your ... more
What is the approx. cost of your project?
Ed's answer below is pretty good, particularly on the required improvements. The wet basement will have to be fixed with the other repairs.
Your maximum loan amount wil ... more
As has been previously answered, the minimum credit score for an approval of an FHA loan is 620. There are lenders who will allow for a credit score of down to 580, ho ... more
You have a few options. First, you could offer the second lein holder more money in order to get them to waive the promisory note. However, you'll then have to convince th ... more
You should probably get some help and look at comparable's in the area and also look at how long it has been on the market. A realtor familliar with the area will be abl ... more