Berwyn : Questions & Answers

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Rob Weber, Real Estate Pro in Chicago, IL
Rob Weber answered:
Need to know if my wife will qualify for FHA loan or any other mortgage?
Enough time has passed for the short sale and bankruptcy not to be a major issue (lenders may have overlays with respect to the short sale but it sounds ilke your down payment ability w ... more
0 votes Share Flag Thu Sep 19, 2013 Financing in Berwyn
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
If a foreclosure is sold as is and then afterward you find out that there is a major code violation discovered are you still responsible for the cost?
Hi unclebubarocks,

You need to contact a Real Estate Attorney as soon as possible. They will be able to tell you who is liable: you, seller(bank), or home inspector.

Shanna Roge ... more
0 votes Share Flag Thu Sep 26, 2013 Home Buying in Berwyn
ALEX ROMO- H…, Real Estate Pro in Oak Lawn, IL
ALEX ROMO- Home Loan Expert answered:
Is military disability pay eligible as a primary source of income?
You can use it. There are minimum credit requirements with VA loans.
Feel free to contact me with any financing questions.

Alexander Romo
Senior Vice President Mortgage Lending ... more
0 votes Share Flag Fri Sep 20, 2013 Home Buying in Berwyn
Sabrina Ash, Real Estate Pro in 77584
Sabrina Ash answered:
If I have down payment assistance, would that money go towards the earnest money or will be additional money I have to come up with?
Earnest money is paid upfront, and credited back to you at closing. Any down payment assistance is applied towards your down payment and/or closing cost.

If you are still needing a ... more
0 votes Share Flag Fri Sep 20, 2013 Home Buying in Berwyn
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Suzanne Hamilton answered:
In this market is it worth it to finish a completely unfinished basement? Add a bathroom? Is there any return on semi-finishing a basement?
If your planning on living in the home a few years, basements and basement bathrooms are usually a good investment. Both are very desirable for resale. My advice is to keep it neutral ... more
0 votes Share Flag Tue Nov 13, 2012 Remodel & Renovate in Berwyn
Christopher…, Real Estate Pro in Westchester, NY
Christopher Pagli - ABR, GREEN answered:
for a $32.800 house what would be the minumum down payment and closeing costs?
Hi, Your best bet is to speak directly to a mortgage broker or bank. They will assess your needs and financial situation in order to help you choose the proper loan product. Your down ... more
0 votes Share Flag Tue Oct 2, 2012 Home Buying in Berwyn
Dean Rouso, Real Estate Pro in 60154
Dean Rouso answered:
Hi, i was wondering if I can use my good faith money to go towards my down payment?? Or does that money have to go towards the principle of the loan?
Hi Jess,

Your good faith money/earnest money would go towards your down payment.
0 votes Share Flag Mon Aug 6, 2012 Home Buying in Berwyn
Patricia McG…, Real Estate Pro in Oak Park, IL
Patricia McGuinness answered:
Would like to purchase a condo in future, renting in berwyn now. Can someone assist?
HI, Wanda. I would be happy to answer any questions you may have about condos in Berwyn. It's a great time to buy a condo right now. That segment of the market isn't recovering as qu ... more
0 votes Share Flag Tue Dec 31, 2013 Home Buying in Berwyn
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Suzanne Hamilton answered:
wont lowering interest rate down to 2% help to make mortgage payment?
Sorry for your troubles, and unfortunately, that is the million dollar question. But lowering the interest rate is in itself a loan modification. It seems many banks are not intereste ... more
0 votes Share Flag Mon Jul 2, 2012 Foreclosure in 60402
Amy Foote, Real Estate Pro in Carpentersville, IL
Amy Foote answered:
I have a credit score of 632, with a closed bankruptcy, can I get a FHA loan?
Sounds like a possibility but there'd be so much more to know to determine! Call my husband, Jim, with Direct Mortgage, for more info at 847-778-9689.
0 votes Share Flag Wed May 2, 2012 Home Buying in Berwyn
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
i have a score of about 567 can i get a loan
You can apply for an FHA down to 560, but it won't be easy. The better your score the better your chances. Please click on the link below for further information.

Best of Luck!
0 votes Share Flag Mon Mar 19, 2012 Financing in 60402
K.K., Real Estate Pro in Streamwood, IL
K.K. answered:
why am i out searching for a foreclosure to buy? why isn't the realtor sending me leads? in these times i would think agent would want the
I specialize in working with investors. See my blog. Feel free to contact me.
0 votes Share Flag Thu Mar 1, 2012 Home Buying in Berwyn
John Potter, Real Estate Pro in Cook County, IL
John Potter answered:
can't afford house.
The owner decides short sale yet the bank must approve and may not. A bank forecloses and they decide to sue the owner for non payment of mortgage. The owner decided not to pay mortga ... more
0 votes Share Flag Mon Feb 20, 2012 Foreclosure in 60402
Anthony Cava…, Real Estate Pro in Channahon, IL
Anthony Cavalea IV answered:
I have a 3 unit apt building for sale in Berwyn IL. what is the charges involved when it is all said and done.?
It will be the same charges as any other sale. Realtor commission (if applicable), attorney fees, transfer taxes, survey, title insurance, prorated property taxes, paying off your loan ... more
0 votes Share Flag Sun Aug 19, 2012 Home Selling in Berwyn
Carlos Valen…, Real Estate Pro in Orlando, FL
Carlos Valentin answered:
forclosure
This is something that I don't think is set into stone on any documents and it really varies with what homeowners decide to do when this time comes (foreclosure). I have seen homes ... more
0 votes Share Flag Mon Dec 12, 2011 Foreclosure in Berwyn
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
When loan Modification Denied.?
Bubbles you need to call your bank back, ask for the home retention department, tell them your situation. The key is if you have any ability to pay, they should be able to help you. Oft ... more
0 votes Share Flag Fri Dec 2, 2011 Foreclosure in Berwyn
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
with more peolpe singning the mortgage will this lower the down payment
Exitos,
No, lenders want the buyers to have some "skin in the game." There are some 0 down loans, VA & USDA but they have limitations and qualifications which may or ma ... more
0 votes Share Flag Thu Dec 1, 2011 Home Buying in Berwyn
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Suzanne Hamilton answered:
with more peolpe singning the mortgage will this lower the down payment
Not usually. The downpayment is based on the program you have. FHA is always going to be 3.5%. If you are looking at a conventional loan, sometimes the down payment required can be l ... more
0 votes Share Flag Fri Sep 20, 2013 Home Buying in 60402
Laurie Chris…, Real Estate Pro in Oak Park, IL
Laurie Christofano answered:
I want to buy A home In 'Berwyn IL, and I'm gonna a first time buyer. what are some general guidelines I would need to know before moving?
Hi Tito,
I'm a local Oak Park/Berwyn agent and I understand the market very well. The first step to buying a house is to get pre-approved for your mortgage -- I've got a few ... more
0 votes Share Flag Tue Mar 27, 2012 Home Buying in Berwyn
Alex Pereira, Real Estate Pro in Livonia, MI
Alex Pereira answered:
Forbearence plans are they good or not?
all a forbearance is going to do is allow you to skip or make partial payments for a couple of months and tack the balance to the end of the mortgage. It is meant only as a short term r ... more
0 votes Share Flag Fri Sep 30, 2011 Foreclosure in Berwyn
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