Possibly, but you should talk to a great local lender right away. There may be a way to get a 0 down loan through VA or USDA if you qualify for either program. There may be other low or 0 down programs locally they will know about.
There are also ways to use gift funds or first/second combos with low down payments. A great local mortgage broker can tell you everything that may be available. Talk to one Monday morning.... more
It is my understanding (and I am not a lawyer or a licensed real estate broker or agent!) You'd have to go to the county recorder's office and search the deed of the property all the way back to before the HOA existed. And check to see if the home owners assocation's CC&Rs have been recorded against the property.
That will determine whether you have to join or not.... more
If you mean "no credit" as in no credit scores and no negative credit history then that is no problem if he (or you) can provide enough non-traditional credit sources (typically need 3 that are 12 months old, with no late payments).
I wrote this blog post which explains how to use non-traditional credit to qualify for a mortgage: http://www.trulia.com/blog/shanethemortgageman/2011/06/no_scores_no_problem_just_use_non-traditional_credit
If he (or you) has them, then FHA, VA & USDA financing could all be possibilities. USDA financing is 100% financing in rural'ish areas, income can't be too much either. Parts just a little west of Pensacola down Hwy 90 are eligible.... more
You should consult with your attorney if you should make the scheduled payment (s) or bring the past due ones current. He will need to order the pay-off amount a few days before closing. The point to keep in mind, payments are not considered late until 30-days past due...unfortunately these late payments will go on your credit history.
I would encourage you to speak with your attorney and your lender.
Best of luck and congratulations on your home sale.
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Thanks everyone for your help in answering my question. I have re-read my restrictions and convenants and there are no provisions for a HOA or POA. Although the developers have "suggested" one be formed there is nothing that requires one be formed or that we must be a member, therefore I believe I should be able to file with the Clerk of Court a statement to be excluded from any HOA that may be formed in the future. Worse case scenario I will end up being a very vocal member of a HOA in order to keep my nazi neighbors from bullying everyone else. Thank you again.... more
In our MLS, regional MLS Florida, SOLD means closed and you can see the date closed, the sale amount and if it was cash or financed. Here are the steps. When a contract is signed, MLS reflects CONTINGENT This means that there are contingencies on a contract, they can be financing, inspection of the property, it can be contingent on sale of another property, anything you are waiting for to happen. Once all contingencies are removed the property becomes PENDING. It literally emans pending sale, we are now waiting for the date of closing.