I would first suggest that an elevation survey be completed to establish the flood zone area. This may show that the structure in not in the flood plain and flood insurance would not be required to have a mortgage on the property. You can also file for a LOMA or Letter of map amendment with FEMA and US army corps to remove the property from the flood plain if the elevation survey shows that the ground is higher. As for premiums for flood insurance, this will vary greatly with the value of the property and proximity to the flood plain. Contact Dan Woods at Hall & Marose insurance for a specific quote for your address. 574267-3266... more
With a Homestead, Supplemental Homestead (this property must be your primary residence) and Mortgage Exemption your taxes could drop by as much as one half of current taxes.
Your best bet is to call the Kosciusko County Auditor or Treasurer's office and they can give you an estimated range of future taxes with the exemptions mentioned. The main switchboard number for Kosciusko County Government is 574-267-4444.
While checking you could ask them about other exemptions you may qualify for.... more
Generally no! There are numerous that allow you to finance with less than 20% down. I'd be happy to put you in touch with a couple of lenders who could help! Feel free to give me a call at 574-244-4045. Mark... more
Hi Katie...none that I'm aware of! There is a program USDA~ Rural housing that is a 100% financing program~ however there are income limits to qualify. VA (Veterans Administration) financing is available if you are eligible.
I'd recommend that you contact a local bank or mortgage broker. They'll help you pick the best program for you! Feel free to contact me at 574-269-0657 and I'd be happy to make some recommendations for you!... more
Seller financing such as land contracts or lease options are pretty hard to come by. Sellers need to own the house outright or in many cases they are violating the terms of their existing mortgage. There are options to assist buyers in purchasing and believe it or not some 100% financing programs still exist. I work with a few lenders who are specialist's in working with those with less than perfect credit and would be happy to put you in touch with them. The programs they offer are designed to assist buyers like yourself!... more
The way I explain the Inspection Response to my clients is this, "We're looking for elephants not mice." We are looking for the items that Indiana defines as a Major Defect. We're looking for the items that adversely effect the value of the property. Items like "only 2 counter level outlets in a kitchen and no outlet at the bar" don't qualify. Any and all issues that pertain to Safety do qualify as well as issues that do not meet County codes. If the Seller thinks they can fix those items for $1,000 or less ask them to do so, if they can't get it done for that much then neither could you in which case you should consider getting a couple of bids for the work and evaluating how much concessions should be.... more
Unfortunately Cathy, theres not much you can do. Your agent needs to stay in contact, daily if necessary to get this done. Patience is key when dealing with any short sales or foreclosures. You must wait on all the folks that have to sign on and off of these deals and they are so swamped these days, the squeeky wheel gets the grease! Just make sure your agent is persistently nice, take them donuts..do anything to get your paperwork to the top of the piles on the desk and you will get this deal closed! I know its not easy waiting, but keep in mind what a good deal you are getting and Good Luck!... more