Only way to tell is to contact a local lender and have them run a check against you so they can give you a ball park figure. Remember, you will have to cover some/all of the closing costs and inspections depending on what type of home you go for. Take into account the most minimum they would want down is 5% so take 5% of the purchase price of the home and add quite a bit onto it for closing (usually equal to closing is what I'd estimate if you're putting 5% down). In a 375k home I purchased, my closing costs for the foreclosure were close to 15k (14k and some change). You can also ask your lender of your choosing for the price of the home you're looking to get into in the area you're at -- how much are the closing costs, they will provide you with an estimate.... more
Google Search Realtors near Magnolia, Delaware. Click on any of the hundred that show up and contact them. Be careful on shortsale homes, they come with an added fee "Third party fees". I was trying to submit a bid on a home in Smyrna, DE and they wanted 3% Third Party Fees. Foreclosures do not have those kinds of fees associated with them.
You could always use Trulia's website to set up alerts on homes matching your criteria. As they come on the market, they will email and also alert you on your phone via their mobile app.... more
There are many programs available. Just be sure that you are using a reputable lender who fully explains any and all charges & interest rates. If you have been able to rebuild your credit since your bankruptcy you should not have any problems.
Find a local lender who will sit down in front of you and go over everything- ask around for recommendations and be sure that you are comparing apples to apples when going over different financing options.... more
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area(s) do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
Versus... not paying it off and doing what with the money instead? If you have $22k burning a hole in your pocket my advice would be to consult with a financial adviser to make sure you have considered all possibilities for use of those funds, including paying off the $22k 2nd mortgage at 8% (which at a glance sounds like a good idea, but I am not sure if you have your retirement funded, kids college education lined up, emergency reserves beyond $22k, etc.).
According to public records and the local MLS, this property last sold in February of 2005. It's possible that it is up for sale as a "For Sale By Owner". However, based on the data I'm looking at, it is not being marketed by a Realtor.... more
19962, Welcome to the quaint little town of Magnolia. It has 2 main streets running through the town. Has a nice downhome restaurant right on the corner of both of these streets that has very good prime rib specials. Right across from there is the fire company and beside there is the post office. Magnolia is very convenient to Rt 1 which is a main road running north and south in DE. There are numerous lovely develpments right out side of town still with the Magnolia address. Also, Magnolia is home to Magnolia Furniture which according to one of my clients is very nice. They have purchased quite a few pieces there just since buying their home here.
It would be my pleasure to send you some properties around the Magnolia area to see if the area has something you may like. I could also send you a map of Kent Co so you can get an idea of how all the towns are situated, nothing is really very far away from each other, yet you can still drive a little and find country if you like.
Please email me at firstname.lastname@example.org or call me at 302-382-9851 for any of the above information.... more