I suggest that you check your purchase contract regarding your $1K deposit as usually this goes towards your cash down payment for the property and helps to determine what amount you will be financing (if it's not a cash purchase). You will receive a credit at closing for the $6K from the seller to assist with your closing costs.
Good luck to you!
Prudential Connecticut Realty... more
I believe that you can use an FHA 203k loan to refinance and do repairs on a home. I just took an FHA class yesterday and that is what they presented. Contact your local FHA 203k lender to find out more.... more
What do you mean by cash apartments? Apartments that will bring you cash, or something that you can buy for cash. I have a 3 bedroom co-op in New Haven, that can sell for $25,000 and you need to buy it with cash since it cannot be financed. Are you interested? Let me know how I can help you. Thanks, Gerri... more
Do you have a social security number and a type of residency? I would advise my clients in a situation similar to yours to speak with their attorney.
I am a member of FIABCI/International Real Estate Federation so if I can be of further assistance feel free to contact me at firstname.lastname@example.org... more
Oh, so sorry to hear about that. Each state is different but most states have a "redemption period" where the homeowner can repay their debt and get their house back. Just remember, if it sounds too good to be true it probably is. May I suggest that you find a local attorney to confirm your state's rules and a local REALTOR who can help you find a REO or other distressed property that can't be taken back.
Cathy Bureau, MBA, REALTOR, Green, SFR
GREEN Home Realty
Are you asking about interest owed to you on a rental deposit? If so, I think the law allows 1% interest per year with the exception of any months you were late with your payment (after the 5th of the month). No interest is owed for those months. To be sure, you can check on the state Dept of Consumer Protection web site.... more
That depends on the contract. You should consult your attorney. The contract will have clauses that cover possible reasons to get out of it, as well as remedies if either party violates the terms of the contract. Depending on how much the buyer has already invested in the process, financially and emotionally, would determine how likely he/she is to sue.... more
There is an option open to you to sell your home as a short sale if your are facing foreclosure. A short sale is where negotiations are done with the lender holding your note when there is a buyer who is looking to purchase the property at less than the debt that is owed. Some lenders may allow the foreclosure process to be put off or cancelled in such instances.
I have gone through specialized training and have received a Certified Distressed Property Designation. If you would like more information about the options available to you, please feel free to contact me.
203-488-1641, ext. 214
Licensed in the State of CT... more
I don't know off hand who manages them but it will be a simple phone call for me to find out for you. With that being said, if I am to work for you and on your behalf it would be my pleasure to do that but you and I would need a buyer agency agreement signed between you and I so that I am working for you and in your best interest.
Right now you are just a customer and if you were to be my client then I owe you a fiduciary responsibility with a whole wealth of responsibilities that I owe to you.
So I will leave the ball in your court. Please feel free to contact me 203-581-3317 as I live close by and I work for the Higgins Group. Looking forward to hearing from you soon sir.
Have a wonderful day!... more
There are too many variables to give you an easy answer to this. The best thing you can do is to contact a good mortgage broker and have him/her tell you exactly what you can qualify for based on your credit and income info. There is no cost or obligation to do this, and it is the only way you will know the real answer.... more
Sounds like you are working with some issues. With an 840 credit score why are you not going to a direct source ( a company that originates and service their own loans). When you say mortgage broker do you mean a broker or your loan officer. From the description of the fact that your profile is being brokered I answered my own question.
What is wrong with Chase, Bank of America, Wachovia, Wells Fargo? One of my past clients just executed a refi and got 4.5%. As I have not checked the rates lately (http://www.bankrate.com) I can't say whether or not 5.875% is appropriate for an 840 beacon, but you have reason to question the information you are receiving.
Did you know that EVERYTHING is negotiable???? Even in court you have the option of pleading Guilty, Not Guilty or NoLo...options.
Your biggest problem sounds like you have not opted to comparison shop...I know I know, you didn't want a whole bunch of credit inquiry hits on your credit. To that I say 1. The same type of inquiry (i.e. mortgage apps) within a certain time period counts as a single look (that used to be a true statement, I'm not sure about these days) and 2. Don't be so trusting and lazy.
The only reason you haven't gone anywhere else is because it's easy to stick with what you are doing and hope your guy 'does right by you'. SHOP AROUND...your life...your money!
Get a good faith estimate from someone else (at least one direct lender) and then you will be able to decide. You already know something doesn't smell right.
P.S.....sometimes people make money based on what they are able to sell you and you are willing to buy. You are buying a loan.
Good Luck,... more
You need to sit down with an agent to discuss how much and big of a house you can afford. The agent will need to know where in New Haven you would like to live, and you can discuss if they can find a rent in your price range. In general, you don't want your rent to be higher than a 1/3 of your monthly paycheck, but some landlords don't like to see the rent higher than a 1/4. These are general rules of thumb. If you want to discuss this further, call me at 203-314-7905.
David Rossi... more
I just did a quick scan on Realtor.com at some condo listings. I thought the two below were presented fairly well. You might want to include the two agents who have the listings when you do the interview process. That is, if one doesn't happen to be one you have used already. The third link below might be of some use in doing the interviews, however i would try and find two more agents along with these two. Good luck.