The best place to check for a line of credit is at your bank where you have a current relationship. These loans come with a personal guarantee and won't be limited to the asset to which it is tied. Therefore the banks will want to see you income and ability to repay the debt and will consider that just as important as the value of your home. I know that US Bank has some decent programs at the moment. Start by checking there. If you'd like and introduction to a lender, please give me a call and I can get you lined up with the right person.
I would like to help you out with your situation.
Can you giveEdwin Mieles
Senior Loan Officer
1 Easton Oval Suite 400
Columbus, OH 43219
614.324.4700 Ext 1561
me a call to understand a little bit better your situation... more
I am an agent and a resident of 90019 for 9 years. I'd be happy to help you. I was also the #1 agent in my office for 2007 and 2008 and can help walk you through the process of buying a home.
What a great time to be a first time buyer! If you want further info on me you can check out my website. I'd be happy to talk to you by email or phone or perhaps we can meet for coffee (Bloom on Pico is amazing).
The Carrabba Group
Keller Williams Hollywood Hills
(323) 899-2900... more
You should speak with a Real Estate attorney, If you had a finance contingency and you didn't get the written lender denial prior to the contingency deadline you may not be able to get your deposit back. If you find that is the case, work with the other lender who can get it done in 4 weeks , hopefully less, and only be out $ 2,800 instead of the $12,000. If you really like the house that may be your best option.... more
Go to the LA Department of Building and Safety to investigate if the City will allow the addition and if will issue a permit for it and what the restrictions are. Then you interview a few reputable licensed contractors and ask them to bid on your project. They usually work with architects and engineers who do the design for you and can include it in their bids and also will pull the necessary permits for you. However you can hire an architect and pull permit yourself once you have the approved plans but if you don't have any experience and never done this before, it is better to let the contractors deal with it. But make sure the contractor you hire is licensed and ask for references and interview their previous clients before you sign a contract.
Good luck... more
Actually, it is not 50/50 for actual escrow fees. Typically the seller's escrow fees are higher than the buyers. Also you are usually looking at around 1.5% of the purchase price for buyer's fees. This would not seem to be unreasonable.... more
Lenders don't instruct appraisers on value. The home valuation code of conduct (HVCC) is a law that went into effect to prevent exactly such a thing. If your appraisal comes in low, it changes your loan to value and thus the pricing would change. It's not a conspiracy, it's just the way things are. You could always dispute the appraisal but that usually is not successful. If you truly believe the appraisal is flawed, you could always go to a different lender and re-submit your file. If you locked anytime prior to last week the odds are that the rate you locked is higher than current rates anyway so you may end up with a better deal than you had before.
Please note that just because the appraisal came in low, it does not mean you cannot close what you already locked. You could bring extra funds to make up the difference, you could have your agent re-negotiate the contract price, or you could close at the higher rate. There is always risk in starting over so you will need to weight the pros and cons.... more
I would love the opportunity to work with you!! It is my distinct pleasure to assist hard working, entrepreneurial types like me to own their first home!! Please, contact me today and you could own your own home in less than 60 days!!... more
Review your contract with your agent. The purchase contract should indicate the contingency period for loan approval. If the buyer has passed this date without obtaining a signed extension, you can most likely provide a "notice to perform". This provides the buyer notice to release the contingency, extend the contingency (with your acknowledgment/acceptance), or cancel the contract. There lack of "performance" may provide you the opportunity to cancel.
It is best to review options with your agent or a real estate attorney as breach of contract by the buyer or seller can result in the other party pursuing the "liquidated damages" clause.
It can be depending on your situation. For example, if you have an FHA loan that was originated before June 2009, you'll want to wait until June 2012 to apply since the monthly and upfront mortgage insurance for an FHA refinance will go down.
If you have a VA mortgage you'll want to watch out for "lenders" trying to sell veterans of doing a streamline refinance from a 30 year fixed mortgage to a VA 5/1 Hybrid ARM.
Aside from that, a streamlined refinance can be great option because it requires less paper work.
Please feel free to contact me for more information or help.
Senior Mortgage Banker
MstPorter - You may be eligible for financing on a FHA loan. You should call a lender and learn if you have the ability to qualify for a home. Apparently, no one told you that you could qualify for a home loan after 1 year of successfully making your payments in your Chapter 13. If you'd like, call me and I can review your situation for you.... more