Financing in 95823 : Real Estate Advice

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Jamie Collins, Real Estate Pro in Fair Oaks, CA
Jamie Collins answered:
How soon after a short sale can we get a conventional mortgage? We are in the Sacramento CA area.
Jennifer,

From what you are saying you should be able to get back into the market. Even though the guidelines state two years some lenders/banks have overlays that state 7 years.
I ... more
0 votes Share Flag Tue Apr 26, 2016 Financing in Sacramento
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
How to get approved with a huge amout of student loans?
Cheri,
Your student loan payments will affect the allowable monthly payment you can have for a house. Your total debt, student loans, credit cards, car payments are divided by your g ... more
0 votes Share Flag Sun Oct 2, 2011 Financing in Sacramento
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
as a loan officer can i pay someone to do my marketing without violating respa. or would it be considered a kickback
Mortgage Loan people, Title Officers and Realtors need to Buy and Sell houses too!
The KEY is disclosing it in the Listing.
No problem.
0 votes Share Flag Thu Jul 28, 2011 Financing in Sacramento
Pacita Dimac…, Real Estate Pro in Oakland, CA
Pacita Dimacali answered:
I refinanced my original loan, pulled out $15K, it is now in foreclosure with HOA, what will happen to the mortgage? Am I still responsible?
Have you consulted a real estate attorney?

Your best resource for information is a real estate attorney specializing in these matters. All anyone can do to help you on this forum is ... more
0 votes Share Flag Wed Jun 1, 2011 Financing in 95823
Steve deVre, Real Estate Pro in Dana Point, CA
Steve deVre answered:
Buy as a Bartender?
You may be able to get approved with what you can prove but most likely you'll have to claim all the money you make to get approved.
0 votes Share Flag Fri Jul 1, 2011 Financing in Sacramento
Rentz Team, Real Estate Pro in Sacramento, CA
Rentz Team answered:
Are there any private mortgage loans available in Sacramento?
Treefrog33,

Sorry to hear about you finacial trials. There are a few options but they would require a substantial down payment and higher interest rate. If you would like more info ... more
0 votes Share Flag Mon Mar 28, 2011 Financing in Sacramento
Rachel Syska,  in Fairfax, VA
Rachel Syska answered:
Owner of the house I am living in is willing to sell for way below value. My score is 600 and I am a vet with great income. Dont want to miss. Advice?
Ask about VA loans since you are a Veteran. No down payment needed.
0 votes Share Flag Mon Apr 11, 2011 Financing in Sacramento
Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
Social Security owes me over $10,000. Do they have to pay me interrest on that money for the 3 years they have underpaid me?
Hello Nursebellamy,
That is a legal question that is best answered by an attorney. I suggest you contact a local one and inquire about it.
Also, here is a link to a web site wh ... more
0 votes Share Flag Sat Mar 12, 2011 Financing in Sacramento
Nicholas,  in San Francisco, CA
Nicholas answered:
Purchase Home Loan Needed excellent Fico and down high DTI
can't you say that you would be parking your mobile home in the driveway or vicininity of your new home, and would no longer have the space rent? That could bring down your dti so ... more
0 votes Share Flag Fri Mar 4, 2011 Financing in Sacramento
Keisha Mathe…, Real Estate Pro in Elk Grove, CA
Keisha Mathews answered:
I own 5 rental condos in Sacramento outright. Total value of about $200K and seeking cash-out refi to purchase more....any ideas? big banks dont care
If you own them outright this is probably not the market to sell. You have lost most of your equity at this point. If you are able, I would hold on at least a few more years (five more ... more
0 votes Share Flag Sat Dec 1, 2012 Financing in 95833
Greg Hobiera,  in Sacramento, CA
Greg Hobiera answered:
For Us Banks American Dream home loan program, how is the median area income determined? also, do they use last years w-2 to determine if you qualify?
Hello Beeryce,

I have helped people who have used this loan. Most recently last year. Its a great loan at 5% down with NO mi. I have spoken to many big lenders who say this deal i ... more
0 votes Share Flag Fri Jan 9, 2015 Financing in Sacramento
Keisha Mathe…, Real Estate Pro in Elk Grove, CA
Keisha Mathews answered:
What are the pros and cons between working with a mortgage broker versus a mortgage lender?
Hi Malik

The biggest difference is that the broker is a "middle man". A direct lender, as you would expect, would have more control. This really counts in areas of closing ... more
0 votes Share Flag Mon Jan 17, 2011 Financing in Sacramento
Ryan Smith, Real Estate Pro in Murrieta, CA
Ryan Smith answered:
Financing a second home
Unfortunately you need the 20 percent down if it is an investment but if your going to upgrade to a larger primary residence you could go with a smaller downpayment program assuming you ... more
0 votes Share Flag Tue Jan 11, 2011 Financing in Sacramento
Roswell Moore…, Real Estate Pro in Scottsdale, AZ
Roswell Moore, answered:
new rental income calculations
Hi Hollie,

If you purchased a new property in July of this year, you have not had a chance to file your 2010 tax returns with your new rental, so Underwriting will look at your lease ... more
0 votes Share Flag Thu Dec 2, 2010 Financing in Sacramento
Teri Andrews…, Real Estate Pro in Auburn, CA
Teri Andrews-Murch answered:
Follow up question about refinance of underwater home (Not wasn't clear how to use this program as email string, so I'll start with
Calwalker,
thanks for the additional details. Is your current payment based on a loan amount close to the $108,000?

Some things to consider, if you re-fi with the intent to rent o ... more
0 votes Share Flag Thu Aug 15, 2013 Financing in 95833
William Alst…, Real Estate Pro in Sacramento, CA
William Alston answered:
Any suggestions for refinance of underwater home?
The first question I always ask my clients is why do you want to do this?
or in other words "what is your intended long range and short range objectives.

Asking a technical que ... more
0 votes Share Flag Thu Aug 15, 2013 Financing in Sacramento
Ute Ferdig -…, Real Estate Pro in New Castle, DE
Ute Ferdig - Atty. Negotiator answered:
what happens to my second lien if both my wife and i are on the second lien and she filed for chapter 7 bankruptcy? will they go after me now?
Hi Mike. I am so sorry you are finding yourself in this situation. Unfortunately, it would be irresponsible even for an attorney to try to assess your situation on the Internet. Whil ... more
0 votes Share Flag Mon Nov 22, 2010 Financing in Sacramento
ANDREW OLLICK, Real Estate Pro in NAPLES, FL
ANDREW OLLICK answered:
I need to know how to get my lender to allow me to do the refinance part of this loan. They are stating our investors are not participating.
I do believe that since you're doing a simple refinance, you should be able to acomplish that with your investors. Maybe you're scarying them with the "short payoff" ... more
0 votes Share Flag Thu Oct 7, 2010 Financing in Sacramento
Gregorio Den…,  in San Diego, CA
Gregorio Denny answered:
What to pay a mortgage broker if you don't end up using them?
If he is ethical, he cannot accept your money. A broker cannot be compensated outside of a closing. If you liked his / her work, refer your friends to them. Don't feel guilty about ... more
0 votes Share Flag Thu Aug 29, 2013 Financing in Sacramento
Mary Willett, Real Estate Pro in Sacramento, CA
Mary Willett answered:
Please advise on FHA streamline refi!
The short answer is that the difference between the refund of your old MIP and the 2.25% new MIP will be the only cost of the refinance if your lender is truly picking up all the closin ... more
0 votes Share Flag Sun Jun 16, 2013 Financing in Sacramento
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