Home Buying in Zimmerman : Real Estate Advice

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Elva Wormley, Real Estate Pro in San Jose, CA
Elva Wormley answered:
Why does the underwriter need a copy of my HUD 1 from a home we sold 3 years ago? What does that have to do with closing on the new home?
Hi Delisha,

How is the mortgage from that home reported on your credit report? Was it paid as agreed?

The underwriter may be trying to determine if it was a short sale.

Best re ... more
0 votes Share Flag Wed Jun 25, 2014 Home Buying in 55398
Christopher…, Real Estate Pro in Bloomington, MN
Christopher Block answered:
If a builder does not meet the closing date, and the additional days allowed to finish the house, is the buyer able to cancel as breach of contract?
1) The easiest, and probably most preferable to you (since you are building a house), is to have the builder fix the items needed to make the title right. It is THEIR responsibility not ... more
0 votes Share Flag Tue Oct 15, 2013 Home Buying in Zimmerman
Russ Douville,  in Saint Paul, MN
Russ Douville answered:
need a construction loan. I have bad credit, recent foreclosure. I can put up 50% of the cost. Where can I find a loan? Serious answers please.
Long ago in mortgage history there was a time when a down payment of 50% meant you could get a loan. There was also a time when having a foreclosure on your credit report meant you cou ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in 55398
Russ Douville,  in Saint Paul, MN
Russ Douville answered:
can my spouse and I get prequalified for a loan if both our credit scores are aroud 577?
There are lenders out there that can FHA mortgages for borrowers with scores below 580 who have big down payments, but realistically, you're best option is to work to get your scores al ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in Zimmerman
Russ Douville,  in Saint Paul, MN
Russ Douville answered:
I had foreclosure back in May 2012. trying to refinance my primary home. I have 70 percent equity in it. Appraised from a few months ago.
In the current market it is unlikely you will be able to refinance a laon within three years of a foreclosure.

In the past, too many people bought a second home and allowed the first ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in Zimmerman
Donald James, Real Estate Pro in Edina, MN
Donald James answered:
CAN I BUY A HOME ON SECTION 8?
The short answer is yes, you can. Some counties may have down payment assistance available as well. You will need adequate income to make mortgage payments, and a decent credit score. ... more
0 votes Share Flag Tue Jun 26, 2012 Home Buying in Zimmerman
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
What's a reasonable price/square foot for a small year-round cabin on a small lake? Prices I've seen range from about $50/foot - almost
BartandScotty,
Price per square foot is not a reliable means of determining value when there are so many other variables. As you look at more cabins, in different conditions and loca ... more
0 votes Share Flag Tue Sep 13, 2011 Home Buying in Zimmerman
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