Gina

I'm a:	Home Seller
Location:	48009

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Gina's Answers (11)

looking for an assumable loan

Asked Fri Aug 1 2008, 17:40 by Chris Hirsch - All locations - Financing - 1 answer

Gina answered:

Why do you need an assumable mortgage? You can do a purchase or refi loan in a trust. I have done that a few times before. I know one was with HSBC. But I don't know anyone who does an "assumable loan". - Sun Aug 3 2008, 23:40

Im wondering if I can get an FHA loan

Asked Sun Aug 3 2008, 21:31 by Aaron - Los Angeles - Home Buying - 9 answers

Gina answered:

Get a referral for a mortgage loan officer to meet with. Its actually a good idea to get pre-approved for a mortgage before shopping for a home. However, having a down payment is a plus and your score is prob within the range given you dont have any lates in the last 12 months. there are many other factors that will have to be reviewed by a loan officer. And yes, FHA is a little easier on requirements than conventional. Depending where you live, you may have to put much more than 3% down on a conventional loan, and the score is questionalble for conventiional--but again a loan officer would have to review ALL your criteria. - Sun Aug 3 2008, 23:33

Are there any grants (or other such $ assistance) available to first time home buyers for closing costs?

Asked Sun Aug 3 2008, 15:51 by Janadeen - 07003 - Home Buying - 6 answers

Gina answered:

Janadeen, the FHA programs: The Nehemiah program, and Ameridream programs I was speaking of also can give a concession for closing costs up to 3% of the sales price , in addition to a 3% downpayment if needed. But as I prev mentioned they are going away soon, so act fast if you want to get in on it.

Also, Janadeen- you can negotiate that the Seller pays all or a portion of your closing costs. This is a common request. - Sun Aug 3 2008, 20:22

There is an FHA gift/downpayment assistance program that is going to be discontinued soon. If you have found a house already, maybe you can get in on it. You can get into a house for zero down this way. - Sun Aug 3 2008, 17:19

How do I find recently sold properties in my area?

Asked Thu Jul 31 2008, 12:33 by Carol A. O'm… - All locations - Using Trulia - 2 answers

Gina answered:

You can also do a search on Trulia for sold properties in your area. - Sun Aug 3 2008, 17:16

I am renting this house for 4 months and just found out that is is preforclosed do i still pay my rent

Asked Sun Aug 3 2008, 17:06 by Amy - All locations - Foreclosure - 3 answers

Gina answered:

I would pay rent for as long as you are occupying the property, consult your lease. Forclosure is a process that takes time. Consult an atty for legal information. - Sun Aug 3 2008, 17:10

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