I would be happy to help you find a place and can refer you to a mortgage lender that can address your mortgage questions. My contact information is on my profile along with reviews from past clients.... more
Absolutely not and no it's not legal and it clearly indicates the underwriter has no business doing the job they were hired to do as they have clearly indicated they haven't a clue what their doing .I would speak to the loan originator and tell them flat out approve the loan or you will never get another referral from me and your underwriter needs to be fired. AVM are as worthwhile as reading your horoscope in the local paper in terms of the value of the information they offer. This is an utter disgrace and you should be raising hell and demanding the file be given to someone who knows what their doing. Between us, once this deal closes I would never use this lender again and would loudly and persistently warn others against using them. I have been int he business for 25 years I close on average over a transaction a week and I've never in my life heard of anything so stupid.... more
The entire Scothbrook development was done under unique special rules in the 1980's for something called a 2-unit condo. These 2-unit condos are exempt from normal condo documentation and do not have associations or files and in fact are exempt from condo documentation entirely. Basically they were originally going to be townhouses but when the property market fell out of bed in the 1980's amidst very high interest rates, affordability became a major factor. The townhouses were then split into 2 units - an "A" and "B" unit sharing a party wall -- hence the 2 unit condominium. Local agents and title search companies should know this. In fact hundreds of mortages exist and thousands of sales and transfers have taken place since the 1980's when they were built. It is rookie estate agents and title companies that are causing the problems for buyers here! It is all perfectly legal and above board. There are no shenanigans occurring... more
I think that opportunity in Philly has come and gone. There are still lots/land that can be acquired for $1.00, but homes and real property cannot. If you are intent on beginning your real estate holdings in this manner, Trenton, NJ may be a good starting point. Do your research, but I am sure they have the $1 property blitz going on now.... more
Trying to do it yourself at the courthouse or online, unless you are trained, is risky. Search "certified title search" to find a provider. I should cost $100-175. Anything cheaper is just an electronic search and may not be accurate.
Reference link: http://titlecompanies.net/... more
There are lenders that can help you get that FHA loan but if you want to keep your payment close to what you are paying in rent, your purchasing power will be severely hampered by the mortgage insurance that you will have to pay.
$73k is not a bad wage (many families work with less) and you really have very little excuse to have such a low credit score (the kids are never to blame in this situation but the adult is).
You need to sit down (with a professional if need be) and take control of your finances and your life. Start by pulling your credit report and make sure that there are no mistakes (a ridiculously high number of credit reports have them), gather all your bills, take a realistic look at your needs and your wants and make some cuts then make a budget and stick with it. In addition to getting rid of debt, an important part of your budget should also include a percentage that is put into a retirement account (especially since most employers have a matching program that is like getting free money).
It may not be painless but in less than a year you should see an improvement in your score.
You should consult with a Real Estate Attorney and have him or her review the listing agreement. Not all agreements are created equal and it may be possible a commission would not be owed if you purchased the property from your parents. Again, however, you should speak with a licensed attorney specializing in real estate.... more
A FHAhome inspector has an obligation to inform his customer, the potential buyer, everything about the condition of the home, from simple things like ripped carpet or leaky faucets to major roofing or plumbing issues. Just because minor issues may not affect the safety of a home it does not mean they are not costly to repair. A potential buyer could find out from an inspection report that the home is not in the condition she believed it was in, and she may change her mind about continuing with the purchase. For this reason, many home purchase contracts contain special language that makes the contract contingent on the findings of a home inspection and allow for negotiation of repair costs or purchase price.
Click here for more information:http://fhamortgageinfo.com/home-inspection/... more
If you qualify for a VA loan you can buy with no money down and roll most of your out-of-pocket costs into the loan. Otherwise, keep saving and work your way up to 20-30% of the price of the home. Best of luck...... more
It typically starts with referrals. Ask friends or family about anyone they know and trust. If you can't get any names that way, resources online like trulia can show reviews on agents in your area. Find a few agents and give them a call. No harm or problems with interviewing them to get to know them a little bit.
I'm sure you would be able to take out a loan as long as your credit is good. You should talk to your bank about this. It's probably a good idea to do this soon and get it figured out. http://www.angleridgeremodeling.com... more