Ellen Chung

This article might give you a little insight as to which path to take. I agree with Pat in that if it truly depends on how long you plan on staying in the house -- below two years, rent, longer definitely consider buying. The article won't give you a clear cut answer but it delves into some interesting issues that you may want to consider while making up your mind. Good luck! - Tue Jan 29 2008, 16:40

A foreclosure remains on your credit for a minimum of seven years. Unfortunately there is no way to guarantee this -- I've seen foreclosures remain on credit reports for up to ten years as well. Let me know if you need more information since this is a pretty straightforward question. Best of luck. - Tue Jan 29 2008, 16:33

I have never worked with these firms personally but many of my clients have. I know that Andy Sirkin's firm is only doing TIC work now so you don't really need any information on him, but my clients who have gone through the TIC process with them have reported that their experiences were less than satisfactory--they could not feel comfortable with the lawyers assigned to their case, she was somewhat on the rude side, and she was impossible to get a hold of; if you or anyone ever does business with them, I've been told that you should expect at least 2 days before calls or emails are returned.

As for GGM I've never personally had any experience with them -- so keep in mind that this is second hand information from the experience of my client. It may be because they are so busy with all the condo conversions they do in the city but I was told, similarly to Andy Sirkins' firm, they were uncommunicative and it takes a bit of time to get a return response.

I've heard good things about Murakami Law though I've never personally known anyone who has worked with them, their website: http://www.murakamilaw.com/. Unfortunately Andy Sirkin's & GGM are the only two firms that my clients have had experiences working with, but the following link is provided by the San Francisco Bar to help people looking for qualified attorneys find what they need: http://www.sfbar.org/lawyerreferrals/real-estate-lawyers.asp.

Good luck on your search! - Tue Jan 29 2008, 16:24

Hi Alexia, there are quite a few websites you can use to take a look at school rankings and general information about the schools in the area of Roseburg, including:

www.greatschools.net
www.neighborhoodscout.com
www.schoolmatch.com

Hopefully these websites will be able to give you the information you are seeking. If you want more specific information you can call the schools themselves and speak to the main office as well. Good luck! - Fri Oct 26 2007, 03:48

Lisa, I understand your broker's worries. Like Adelina said it can be very difficult to be working with a loan agent outside of one's area, especially if it's outside of one's state! I think you should have definite deadlines for milestones in the loan process to make sure that the loan is truly going smoothly. Such deadlines could be for the loan approval, the appraisal request, etc. If the deadline passes and you don't receive any word then it might be a good idea to put together a list of trusted lending professionals that you know of and provide that to your client.

It's going to be hard to convince your client to consider your list since your client's loan originator is family, but when it's such a big step to take it's important to help them understand that you have their best interest at heart. Personally, as a mortgage broker, I have seen more than a few circumstances where blood-related relatives did not do what was best for their clients, who ended up suffering and having to refinance with me. Horror stories I'm telling you -- but of course there are still plenty of people that take care of their clients to no end.

I'd say give them a chance, just lay out the deadlines. Make sure they make at least the loan approval deadline and then stay on top of them as you would any other local loan officer. If this does not work then consider giving your client the names of other lenders you know are trustworthy and competent. By that point you will have done as much as you can do to help guide your client in the right direction. I hope it all works out for the best, good luck Lisa! - Wed Oct 24 2007, 14:28