The fact is not insulting the homeowner. the homeowner really doesn't care if it sells for 1 penny. As long as their obligations to the bank are let go.
but banks on the other hand look at things much differently. They are numbers people. Their is no emotions to an offer with a bank. they care only about profits and how the offer allows the bank to profit.
but you can psychologically make offers with knowing you will have a counter offer.
Keep in mind the seller has alot of work to do to get approved for a short sale. If you low ball an offer it will cause them lots of work for nothing if you intend on not working out counter offers with the bank.
Your offers should be serious and you should expect counter offers from the bank...
Search Short Sales and foeclosure Deals at www.BuyNjShortSales.com
The actual minimum credit score for FHA is 500. Scores from 500 - 579 require 10% down. Scores from 580 up require 3.5% down. People who tell you any other number do so because that's what "they" have available and has nothing to do with actual FHA guidelines.
This info can be found in the FHA Guide section 4155.1 4.A.1.c - Determination of Credit Worthiness and Minimum Credit Score Requirements at this link: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4155.1/41551HSGH.pdf... more
Good evening, that information is a matter of public record. The information can be accessed through a visit to the city in which the house is located. If you are working with a realtor they can sometimes access that info.
If you any other questions you can write me at. Jaimew.firstname.lastname@example.org
Prudential Fox roach realtors.... more
In my neck of the woods, short sales typically take 4-6 months these days regardless of the lender. You can't really judge the timeline of a particular lender as each short sale is unique and the outcome totally unpredictable. The speed at which the short sale will process will depend on the seller, agent and negotiators on how proficiently they are all working (that is supplying supporting documentation, follow up phone calls or emails etc) to get the short sale approved.... more
Depends, some people say 3 years, but some say around 2. I got a suggestion from a mortgage professional and she told me to look at my credit report and make sure the reporting of the loans are ZERO'd out.
Once the Zero out phase is done, that's when the time frame is done.... more
Dear Optimistic Buyer,
Now is the best time to buy. Of course there is the $8,000 incentive for first time home buyers. There is also a $20,000 grant for down payment and closing costs in Atlantic County and lots of inventory. Another great reason to buy now is that interest rates are at historic lows. And rates will be going up. So for every percent that rates go up that is a 10% decrease in the price of the home that you can afford.
Please contact me. I would like to meet with you and further educate you on the opportunities in the market and answer any questions you may have. Please contact me at 609-338-3773.
EHT is a large twp so depending where you are looking could be the significant difference of what is avail. The amount of inventory that is avail has been decreasing. Short sale driven inventory areas may cause some inventory glut where some people may over extended or got into some trouble. Sometimes you go into an area where there is a yard sale of "for sale" signs. Again usually a problem where short sales are evident with some bank owned that may cause some panic selling. If you like an area make sure you have your agent do an analysis of the market area. Do some home work of your own,. It's not difficult to see what the homes are selling for in an area. And if homes are not selling, that could be an opportunity for you or something you may want to stay away from.
If I can help just contact me.
text/email/call 7 days... more
Have you asked for a list of comparable homes that have sold recently, and checked the days on the market. I understand your frustration, but homes are sitting a little bit longer.
You might also contact the Broker and agents, give them a time frame to work out the kinks. If you are still unhappy with their representation, ask for an unconditional withdrawal and find an agent (through those sold listings) that you feel can get your home sold in the shortest time.
Keller Williams Realty - Atlantic Shore
You can try to do this privately by searching out rentals in the classifieds or on Craiglists. Or you can have a Realtor like myself assist you in the process. I will say a rent to own lease is a little more complicated than a standard lease. Becareful! Sometimes there are clauses included that will not be in your best interests. Alot of times people rent to own because there is an issue with their credit. Remember most landlords who rent homes are also concerned about credit issues as well. I do not know if this is the case for you but the advice is for the community. Feel free to call me anytime to discuss your goals. Information is free.
Best Regards,... more