01801 : Questions & Answers

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Wen Farina (…, Real Estate Pro in Massachusetts
Wen Farina (Wayne) answered:
What's up with the backyard of 11 Washington Terrace? It looks like there are other buildings on the property, but I can't tell from the
You can schedule a private showing and go in and see for yourself. This house was completely renovated but it is always a good idea to see it in person not solely pics. Wayne info@wenr ... more
0 votes Share Flag Wed Jun 6, 2012 Home Buying in Woburn
Greer, Real Estate Pro in Newton, MA
Greer answered:
how much of a downpayment for an investment propery?
Often 30% down, some times you can find lenders that would let you put 20% or 25% down.
0 votes Share Flag Tue Mar 26, 2013 Home Buying in 01801
Greater Bost…, Real Estate Pro in Massachusetts
Greater Boston Short Sales answered:
One lender in a short sale, the 20% of an 80/20 deal. What percentage of what they are owed are they most likely to approve?
The second lien holder will request anywhere from 6-10% of the principal loan balance as a payoff depending upon whom the underlying investor is on the loan. If you are pursuing a HAFA ... more
0 votes Share Flag Sun Jun 3, 2012 Financing in Woburn
Daniel Sutton, Real Estate Pro in New York
Daniel Sutton answered:
How long is a loan pre-approval usually good for? I don't want to feel pressured into buying a home by this.
Usually its just about 1 to 2 months. Checking your credit often does effect your credit but it will not do too much damage unless you really take it to an extreme.
Good Luck.
0 votes Share Flag Mon Jul 9, 2012 Financing in 01801
Steve Boucher, Real Estate Pro in Massachusetts
Steve Boucher answered:
Are you aware that the bank lending process is taking more time? How long do you need for a closing??
Yes absolutely! Its one of the busiest times in mortgage history. Currently we still have 30 days on purchases as we priortize those. One of the challenges though is getting the appr ... more
0 votes Share Flag Wed Jun 26, 2013 Financing in 01801
Janine Elkho…, Real Estate Pro in 01801
Janine Elkhoury answered:
i am having a hard time finding someone in woburn to rent 2 me i just recived section 8
Hi Michelle

The deleaded is usually the issue.. They are rare.
0 votes Share Flag Wed Jan 9, 2013 Moving in 01801
Jeffrey Cart…, Real Estate Pro in Salem, MA
Jeffrey Carter answered:
Can anyone suggest how to get financing for bank owned property with no heating system?
Hello Sherbs,

There is a program called 203k (rehab loan) This will solve your problem. There may also be some conventional loans that might work. Please contact me for a few mort ... more
0 votes Share Flag Thu Sep 29, 2011 Home Buying in Woburn
Tom Matthews…, Real Estate Pro in Weston, MA
Tom Matthews & Joanne Taranto answered:
Woburn, Wilmington, or Wakefield which town to consider for 500K
Mathew J:

Great question and it truly depends. I am selling a home at 1 Marion St in Woburn and my clients are looking to buy in the $500K range in the towns you mentioned. It will ... more
0 votes Share Flag Sat Sep 28, 2013 Home Buying in 01801
J.M.Jones -…, Real Estate Pro in Massachusetts
J.M.Jones - 978-335-9092 - Homes & Rentals answered:
Seeking advice - town north of Boston with good school systems (K-HS) with decent area to live in move in condition house for aroun
Have you tried further east like Gloucester, Manchester, Rockport - many option there.
I would be glad to help you in any area but I am very familiar with these communities if you inte ... more
0 votes Share Flag Sun Jul 18, 2010 Home Buying in 01801
Elizabeth J.…, Real Estate Pro in Northampton, MA
Elizabeth J. Herbert answered:
Can you buy a foreclosed property with a masshousing loan?
Provided that it passes certain guidelines and will be granted a Certificate of Occupancy, I believe you can. DEFINITELY get yourself a Buyer Agent!
0 votes Share Flag Sun Nov 8, 2009 Home Buying in 01801
Michael Giles, Real Estate Pro in Beverly, MA
Michael Giles answered:
Is there any chance of turning a walk out basement into a legal (3rd) apt. in a multi-family that is R-2 zoned and is currently a 2 family?
The best place to start would be with the building inspector. He will be able to tell you if it is possible and if so what the process would involve,
0 votes Share Flag Mon Oct 19, 2009 Remodel & Renovate in Woburn
Cleo Pappas,…, Real Estate Pro in Bel Air, MD
Cleo Pappas, Esq., Realtor answered:
How do I buy a house with no income (job loss) but have enough cash assets to even pay cash for new house.?
You should speak to your bank, credit union or a qualified mortgage broker to best answer your question. Lenders will look at all your paperwork (W2s, tax returns, assets, etc,) but the ... more
0 votes Share Flag Fri Sep 25, 2009 Financing in 01801
Voices Member,  in
Voices Member answered:
with bad credit can we buy a property
short answer is no

your credit history is the only record that a lender has to guage as to how you pay your bills

bad credit means that you do not pay your bills

sorry
0 votes Share Flag Fri Oct 9, 2009 Home Buying in Woburn
Patrick Thies…, Real Estate Pro in Elmhurst, IL
Patrick Thies SFR, CNC answered:
Can we put an offer in on a house that has a offer accepted?
Yes you can, but there are some conditions. All offers must be presented to the seller upto the date of closing. However, your offer would be a back up offer. If something happened to ... more
0 votes Share Flag Sun Aug 23, 2009 Home Buying in 01801
Entropymom, Both Buyer and Seller in 19067
Entropymom answered:
If a family of 8 has bad credit due to a foreclosure in Michigan, how can they qualify to rent/buy another h
Hi webwoman,

Your son should look at some very family friendly areas first (try North Shore area---I am very partial and it has a lot to offer.)

Find a good realtor. If looking in ... more
0 votes Share Flag Wed Jun 26, 2013 Financing in 01801
Coldwell Ban…, Real Estate Pro in 95482
Coldwell Banker Mendo Realty answered:
In order for me to qualify for the first time home buyer stimulus. Do I have to had purchased the home first?
Greetings Tallyj:
The First Time Home Buyer's Credit (meaning that you and any co-buyer have not owned a home in the past 36 months) is an income tax credit of $8,000 or 10% of the pu ... more
0 votes Share Flag Wed Jul 1, 2009 Home Buying in 01801
Tej Tj Bhatn…, Real Estate Pro in Parsippany, NJ
Tej Tj Bhatnagar answered:
In order for me to get the credit. I have to already purchased the home?
Hi Tallyj,
Are you talking about the first time home buyer tax credit? You need to purchase the home by November 30, 2009. This doesn't mean contract on the house by that date, it me ... more
0 votes Share Flag Fri Jul 24, 2009 Home Buying in 01801
Patrick Beri…, Real Estate Pro in Seattle, WA
Patrick Beringer answered:
Who qualifies for the first time home buyer stimulus payment?
You do not qualify--"Purchaser (and purchaser's spouse) may NOT have owned a primary residence in 3 years previous to purchase."
0 votes Share Flag Wed Dec 28, 2011 Home Buying in 01801
Michael Giles, Real Estate Pro in Beverly, MA
Michael Giles answered:
Are condos overpriced right now?
Hi Rebecca,
Condo's are a tough sell right now because of the decline in single family prices, but that doesn't mean the right deal is not there for you. Buying and selling anythi ... more
0 votes Share Flag Thu Apr 2, 2009 Market Conditions in 01801
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