Bob C Peitz

"Associate Partner"

I'm a:	Real Estate Professional
Company:	Big Hill GMAC
Location:	Ohio
Web sites:	My Blog
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About Me

e-PRO REALTOR®, CMS
Associate Partner
Big Hill GMAC
Beavercreek, Ohio 45440
(937) 429-8700 x375
Bob@BobPeitz.com
http://www.bobpeitz.com

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Bob C Peitz's Questions (0)

Bob C Peitz's Answers (6)

my credit score is just under 600. my husband is about the same i think . can we qualify for a home loan ?

Asked Fri Jun 6 2008, 08:37 by Stella - 44514 - Home Buying - 7 answers

Bob C Peitz answered:

If your middle credit score is not under 580 you will probably qualify for an FHA insured loan as long as your DTI (debt to income "ratio") is within FHA guide lines. Your mortgage professional can advise you on that. Your DTI will determine in a sense how much you can borrow and your maximum mortgage payment will be derived from that calculation. - Sat Jun 7 2008, 16:59

Some people think realtors work very little and earn a ton of money. Are there any statistics that report?

Asked Wed Jun 4 2008, 16:14 by John Wortz - Long Branch - General Area - 18 answers

Bob C Peitz answered:

The average Real Estate sales agent (REALTOR®) in Ohio earns approximately $30,000 per year before expenses. The number of hours worked on an average is probably 36 per week but that includes working on almost every Saturday and Sunday. - Wed Jun 4 2008, 17:57

If becoming approved to submit bids on HUD homes is easy to do, why don't most Realtors get approved?

Asked Thu Mar 27 2008, 14:08 by April - All locations - Home Buying - 9 answers

Bob C Peitz answered:

April, I would guess that some Brokers don't register with HUD because there just aren't that many HUD properties in their service area or they just don't have agents that want to deal in foreclosed properties of any kind. I take business as it comes my way but "HUD homes" probably are less than 1% of my total business. - Thu Mar 27 2008, 20:07

I guess I misundestood your question that a REALTOR® has to be "approved." A REALTOR® doesn't per say but their Broker has to be registered with HUD.......mine is..........it is a simple process.......and I have written offer on HUD properties. Sorry for any confusion my previous answer may have caused. - Thu Mar 27 2008, 16:29

A REALTOR® doesn't have to be "approved" to submit a bid on a HUD property for their client. There are, however, HUD forms that have to be used when submitting the offer Vs the local real estate board's forms that are normally used. - Thu Mar 27 2008, 14:20

I'm looking at a short sale listing. My realtor tells me that the 3rd party may not approve even a full

Asked Sun Mar 16 2008, 09:01 by Mark - 20176 - Home Buying - 13 answers

Bob C Peitz answered:

Wow! A lot of good answers on this one! A short sale can only occur with with the Bank (mortgage holder)
approval. A seller has to apply for a short sale "package" from their lender. (at least in Ohio) The problem arises when there is more than one mortgage on the property and by different lenders. The second mortgage "holder " does not have to agree (sign off) on an accepted short sale offer for the property even if the 1st mortgage holder agrees to the short sale price. That is where "things" can get tied up for weeks or longer. I have one myself in process (or lack of) that is going on 4 months now and it is currently in court sitting on a Judge's lap. - Thu Mar 27 2008, 14:56

Recently discharged from chapter 13 bankruptcy. No debt, make about $60k a year, and recently sold my house

Asked Mon Mar 24 2008, 05:29 by Damien Walker - Atlanta - Financing - 8 answers

Bob C Peitz answered:

Each Lender looks at a bankruptcy differently....usually they like to see you 1 year out of any bankruptcy (discharge date) and your reestablishment of credit. (credit score) However, in my real estate experience I have seen that if you are able to put 20% down on a mortgage that has a tendency to "cure all ills" for a Lender. - Mon Mar 24 2008, 08:26

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