The tax transcripts from the IRS just take 2-3 days. They want to make sure you have filed your 2014 tax returns and aren't just providing them an unfiled tax return. Being 1099'd, you are considered self-employed, and lenders require 2 years of tax returns reflecting you are self-employed. Loan officer should have known this ahead of time, fortunately it sounds like you have fixed the situation so it's just a matter of time for underwriting to review and verify the 2014 tax returns have been filed and then you should be good to go.
P.S. You can reply to people here, but none of us will ever get a notification you have replied because Trulia has disabled that feature. If you have follow up questions I recommend you contact the person directly by clicking on their picture and sending them a direct message.
Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct... more
You should contact a real estate professional here on Trulia to go over what you're looking for and the inventory available that would meet your criteria. You should also contact the local offices of community development to see if they have any assistance. Alot will depend upon how much your voucher is for, what utilities you require etc. There aren't all that many larger buildings that have 3 bedrooms and an elevator. This is why working with a professional is important.... more
Depends on the terms of the contract and what each parties obligations are and the ramifications that should be spelled out in the contract. Is it an offer to purchase or a purchase and sales agreement.
It may be subject to financing, inspection etc.
Many attorneys put in a clause that your liability should you break it is limited to your deposit.
If you just entered into an offer some sellers understand buyers getting cold feet and don't hold them to the contract as they realize that the buyer will get out later for inspection issues or financing issues.
I suggest if its an offer you speak with your buyer agent, if it is a purchase and sales, speak with your attorney. These two will be best to advise you.... more
Foreclosure notices as well as the actual foreclosure deeds are recorded at the registry of deeds. If her house is in Revere, the registry of deeds is the Suffolk County on New Cheradon street in Boston.... more
Presumably, you were working with an attorney to put together the P&S ... if you stayed within the terms of the offer ... if would seem you have a very strong case. Have you signed a release requestig your deposit back? Who was holding the escrow? Where is your agent in all of this?
As previously suggested, get your attorney to help you with this ... your agent too. They would both have a vested interest in getting this resolved propertly.... more
Thanks guys for your input. I did some research on the public records of the seller and this is what I found :
-12/05/2006 she had a loan of 381000$ for 30 years adjustable rate balloon rider.
I also compared this house case to other short sale sold last 6 month where the lender was BofA and I found that they agree to sold houses that owe more (one of them , the seller has a loan of 415000$ since 12/01/2005 for 30 years )
What do you think experts is this going to go through or BofA will demand other offers . should I ask the seller agent to take listing out of MLS so no one can see it. The seller agent is saying that the short sale will not exceed 3 months which by then will qualify me to the tax credit.
note :i am purchasing this house for 265,000$ (the seller was askin 219,000$)... more
The North Shore is basicly a Seller's Market at this point, not a buyers' market despite what the media would like you to believe. There may be a big shot of foreclosed homes coming on the market in the next two months and that will be an opportunity for you to compete better. Multiple offers and cash offers have been common, especially on cheap bank owned properties for the past six to nine months.
Banks will not consider you to be under agreement on property THEY own until a P & S has been signed by them AFTER their counter offer has been signed by both parties. This can take ten to fourteen days depending on the bumps in the process of your particular property. The bank can and will accept any offer better than yours until your P & S has been signed BY THEM.
No such thing as a "verbal" offer legally in Massachusetts.
If the property is NOT bankowned, most buyer/seller signed OFFERS will put the property under agreement as a binding contract and can be taken to court in Massachusetts under the right conditions.
Nothing is valid until it's in writing and signed by both parties.
the condo association HAS to cover a naster policy for the common structure and the indovidual owners insure the shetrock in. As well the master policy covers the liability for the common areas. get it now as a fire could wipe you out financially.... more