Taking Over Payments on Pre-foreclosured HomeI recently came across an ad on Craigslist while looking for a home to rent. After contacting the number provided, it turned out to be a company that stated that they connect individuals
There are several in different age and price ranges - would you like to buy one?
Professional Buyers Broker
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Corporate Relocations | New Construction | Luxury & Investment Properties... more
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Let me know how it goes.... more
First you need to find a Realtor in Georgia who can help you. But I see a problem with your plan. Any lender is going to want to know that you have a job lined up in Georgia. So, I'd look for the job NOW, then focus on the house. Just because you have 6 months of savings doesn't mean anything. What if you can't find a job. The lender needs to see stable job history before they give you any money.... more
Yes, Cheryl, the commission and almost everything else is always negotiable in real property transactions. There are several models that essentially let you market and sell your own property for about 4% if the Brokerage allows it. Please call, text or email if we can provide further assistance. Good Luck!
MORTGAGE LOANS FOR NON-US CITIZENS
We receive requests from people interested in buying a home in the United States who are not US citizens. The status of a person in the United States makes different loan programs available depending on the length of stay that the person is allowed to stay in the country.
We will try to describe these options from least difficult to most difficult.
PERMANENT RESIDENT ALIENS
These people are able to apply for a loan in exactly the same conditions as any US citizen. Loans to these customers are purchased automatically by Fannie Mae and Freddie Mac. The person must show us the ?green card? issued to him by the Immigration and Naturalization Service (INS). Sometimes the bank will ask for an authorization to contact the Social Security Administration ( SSA) to confirm the social security administration. These borrowers have access to all loan programs, first mortgages, second mortgages, home equity lines of credit and mortgage insurance. Borrowers must have a valid social security number.
H1B VISA HOLDERS
H1B visas are issued to international workers who come to the United States for a definite period of time. Usually between three and six years. Normally banks treat these applicants as permanent residents, in some cases they will ask to see a petition to extend the residency permit. Interest rates and conditions will be similar to those offered to US citizens. The SSA will have provided these applicants with social security numbers.
Known as the Employment Authorization Document ( EAD) the work permit is given to students, fiancées of US citizens, foreign diplomats, special workers. Fewer banks are willing to provide a mortgage to these persons due to the short term they are allowed to stay in the country. Other banks state that they are only concerned that the person is in the US legally and will provide a mortgage under normal conditions.
It has become very difficult to obtain mortgage financing for foreign nationals in the last year. Fannie Mae and Freddie Mac have removed those options from their offerings. Most national mortgage lenders that provided foreign national mortgages no longer offer them. Several banks in Florida still offer loans to foreign nationals who are buying property in that state. The borrower usually has to put 25% as down payment and provide proof of employment and credit in his native country. They must provide a tourist visa that allows them to visit the US and the home they buy in the US will be considered a second (vacation) home for them. It is unfortunate that this kind of financing is so restricted at this moment. Investments by foreigners at this time of a glut in the housing market and a weak dollar would open up many options to sell homes.
For many years the Internal Revenue Service ( IRS) has provided non US citizens with Individual Tax Identification Numbers (ITIN). These numbers are used by the IRS to track (and be able to tax) income from dividends, savings, commissions and other income generated in the US. The ITIN does not allow the person to live or even be in the United States, it is only a medium for tax control. Some companies however are using the ITIN to identify their customers in credit transactions and thus reporting them to the credit bureaus. A limited number of national banks offer mortgages to ITIN holders. Some banks will use the ITIN number when assigning customers checking, savings accounts and CDs. Some local and regional banks offer mortgage loans to customers with ITINs. These customers provide a history of employment, sometimes alternative credit documents ( utilities, insurance bills, retail accounts, cellular phone bills) and bank statements to qualify for a mortgage loan. At one time loans for these customers only required 3% down payment, now most programs require between 10% and 15% down payment.... more
Congrats on your upcoming move!...it looks like you're getting the process started by doing some preliminary online research...smart move!
The Atlanta metro area has tons of neighborhoods that attract different people for a variety of reasons and that vary widely in price point so there are a lot of factors at play in making the 'location' decision....so talking to lender would likely be your first step if you haven't done so already to help focus your search. I have several that I work with and I'd be happy to provide some referrals.
Atlanta has some awesome Intown neighborhoods that offer you all the conveniences of the city but still maintain a strong sense of neighborhood solidarity.I live and specialize in the Intown Atlanta market. I have profiled some of Intown Atlanta's most popular neighborhoods on my website http://(www.LaDonnaSuggs.HarryNorman.com), feel free to familiarize yourself with what these neighborhoods have to offer. I'd be happy to discuss this further to get a sense of what you're looking for to provide a more specific response and some neighborhood suggestions for you to consider. Feel free to call or email me directly.
LaDonna B. Suggs, Realtor & Accredited Relocation Specialist
Earning Your Trust, Representing Your Interests, & Exceeding Your Highest Expectations
Harry Norman, REALTORS® Intown Office
1531 Piedmont Road | Suite B | Atlanta, GA 30324
D: 404.494.0504 |F: 404.497.5521 | O: 404.897.5558
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*Inquiries & referrals are always welcomed and greatly appreciated* - Sat Nov 9, 2013... more
I jsut reviewed a 1040 form. 24 referrs the viewer to form 2106 or 2106EZ.. Item 24 refers to expenses. If it is not an expense, the 2106 will show that. Why are you waisting your time trying to get a specific lender to accept you. There are hundreds of us in the Atlanta area. Go to someone who can understand your tax returns.
Sally W. Hamby
Senior Mortgage Banker
Fidelity Bank Mortgage
404 644 7696
NMLS # 35143... more
Very odd that something like this would happen. Maybe it was a glitch in her comp system. If you get a chance to speak with her, make sure she knows you're moving on b/c of being inundated with emails/calls from her.
Scott Miller... more
Not most of them. Unless you sell it you can't pay off the mortgage and unless you have a load of cash around, to be able to put down on the next home, you have to sell and really sell so you get the money needed to pay off the mortgage. Most sellers need to sell to move on to the next house.... more
I work the Buckhead area and would be more than happy to help you out. Shoot me an email and I'll pass along listings.
Fourteen West, REALTORS
From the Georgia DOR website, "Real estate transfer tax is an excise tax on transactions involving the sale of real property where title to the property is transferred from the seller to the buyer" in link below under web references. Good Luck!
I would suggest you try the regular rental sites:
http://www.trulia.com (Rentals Section)
http://www.zillow.com (Rentals Section)
http://www.realtor.com (Rentals Section)
Between all of those, you will get a very clear picture if you can find what you are looking for. Good luck!... more
If it was a Chapter 7 you would need to wait two years from the date of the discharge.
If it was a Chapter 13, you would need to provide proof that you have been making all court appointed payments for a minimum of a 12 month period. You would also need to get written approval from the trustee to go ahead with a mortgage for any bank to even start on your file.
In either case (Chapter 7 or 13) you would have to have reestablished good credit, have a good job stability and have a good explanation as to why you had a bankrupcy-including why you think it won't happen again.
These are guidelines for an FHA loan. Conventional guidelines are much stricter.
I hope this was helpful.
Good luck.... more