FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
Purchase a Florida home 12 months after a chapter 13 Bankruptcy
Purchase a Florida 24 months after a chapter 7 Bankruptcy.
FHA will allow a FHA mortgage 3 years after a Foreclosure.
Minimum FICO credit score of 580 required for 96.5% financing.
Bad credit Florida FHA mortgage approvals minimum FICO credit score of 530 required for 90 FHA financing.
No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.
A risk-management product that protects lenders against loss if a borrower defaults. Most lenders require private mortgage insurance (PMI) for loans with loan-to-value (LTV) percentages in excess of 80% (the buyer put down less than 20% of the home's value upon purchase). This allows borrowers to make a smaller down payment of 3% to 19.99%, instead of 20%, allowing them to obtain a mortgage sooner since they don’t have to save up as much money. Borrowers pay their PMI monthly until they have accumulated enough equity in the home that the lender no longer considers them high risk.... more
You are living in the OLD DAYS of property taxes. That system ended 15-20 years ago. Your personal house is tax exempt up to $500k if married - $250k single. So no tax at all if not over those amounts. It does not matter what you buy next.... more
There are a lot of incorrect answers on this site. There are many conditions that determine how a lien is handled upon sale. Is the house being sold outright? Is the house being sold in foreclosure? What kind of a lien is it? Do the buyers need a mortgage? These all impact how the lien should be handled.
For example, A house that is sold at auction can be sold without a lien being paid and the buyer can take title subject to the lien. There are lots of variables and factors that need to be considered. Bottom line, consult a lawyer as this is not straightforward.... more
A lien is typically filed at a County Records office (for real property) or with a State Agency, such as the Secretary of State (for cars, boats, office equipment, and the like).
To remove the liens, you should:
1. Pay off the debt to the lien holder if the debt is valid. Sometimes an attorney can negotiate a lower payoff for you.
2. Request that the lien holder sign a Release-of-Lien form in the presence of a notary public. Release-of-Lien forms are available from attorneys, the county clerk's office and online.
3. File the Release-of-Lien form at the county recorder’s office. This makes the release a matter of public record. There is usually a small charge for this--the fee varies by location.... more
You can get the demographic data of the Floral Park, CA for free at www.census.gov or www.searchq.com
The zip code demographic data should cover housing statistic, area crime rate, school information, social characteristic, economy, resident income and more...... more
What you may have is an adjustable loan that is fixed for 3 years and that you will be eligible to refi in 6 months, not that you are guaranteed a refi in 6 months. Find out now, If that is the case I would advise exploring fixed rate options with a comfortable long term payment at the 6 month period. You also need to find out if there is a prepayment penalty and if so, address that with your lender. A lot can change in 3 years. Proceed with caution. Many people who have lost their homes started with the "Take this loan now and there will be something better for you later" promise. For these people, later never came.... more