Regan_copela…, Home Buyer in

so, you cannot get a loan in order to purchase this property?

Asked by, Tue Jan 8, 2013

This question was asked from this property:…

Help the community by answering this question:


No, it seems by the description the property is not in good enough shape to get an appraisal at the amount you would need to borrow. Be careful if you don't know what you are doing and you attempt to buy all cash. I suggest working with an agent that knows what they are doing. Call Shannon Chang at 626-319-8545
0 votes Thank Flag Link Tue Jan 8, 2013
You may purchase with a 203k loan with a minimum 620 fico score and 3.5% down payment. Here are some links to study and consider. You may qualify with a few dozen questions in minutes. Do you need listings emailed to you?
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
9am till 9pm 7 days
0 votes Thank Flag Link Tue Jan 8, 2013
With homes that have extensive damage to them that the owner is not going to repair, a bank will not loan on it . Since this is a short sale, the owner has no reason to repair because none of the sale is going to him/her - it will be going to the bank to pay off the loan at a discounted amount due to lack of equity.
0 votes Thank Flag Link Tue Jan 8, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer