Home Buying in Dallas>Question Details

Ken Shuman, Home Owner in San Francisco, CA

Looking for first time home buyers to share their stories...

Asked by Ken Shuman, San Francisco, CA Wed May 13, 2009

Did you consider a foreclosure? What type of home did you end up buying? How did you make your final decision? Why did you decide to enter the market now?

I am looking for folks that a bought a place in 2009. Please send details to pr@trulia.com.

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Answers

1
I sold a southwest alliance home...Foreclosure to my cousin who is a fireman. Appraised value 185000 purchased for 160k. Went with an FHA 203b repair escrow. And with this type of loan HUD actual puts additional funds into an escrow account until necessary repairs are finished and payment is due. The only way to get these funds is from your lender asking for them through the 203b. $5000 is typically the most they will spend. Has to be necessary repairs like roof, foundation, etc

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0 votes Thank Flag Link Wed May 13, 2009
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