The property would have to be out of your name for a period of 1 yr to qualify for the FHA Back to Work program, if you qualify for the program or 2 yrs out of your name to qualify for a VA loan if you are a vet, or 3 yrs to qualify for FHA loan.
There is nothing any lender can do until the property is out of their name.
I am happy to answer your mortgage questions, 7 days a week and review any loan scenario. I lend nationwide.
Bart Gabe - Lending Nationwide since 1987
800 315 8803
NMLS# 20743 - my licensing information
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Great question, Fannie Mae offers financing on these properties called Homepath. As a lender we offer the Homepath product, but if you are looking for Down Payment Assistant program then I would look at the Lake County Economic Development Department if your purchasing in Lake County, IN. For more information feel free to contact me anytime. Best of luck.
A&M Mortgage Group
I think with your credit score you should be able to get a loan. I have been able to give out loans with scores as low as 580 so you should be in the clear. Also, keep in mind that your ability to obtain a loan also depends on other factors as well including your credit scores, assets, liabilities, debt, income, down payment, employment, etc. If all of these are in line you should have a decent shot with the right lenders. I suggest you speak with a lender like myself who would be more than willing to help you get the loan that you need. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 firstname.lastname@example.org... more
I looked on-line through several websites and it shows that the property is not currently for sale, I went a step further to see if it is a bank owned property and per the tax records it is not. I hope this answers your question and good luck on the home search :-)
There is a HUD home that is only 8 days on the market. The address is 2418 E Cleveland. It is currently listed for $45,000. As a HUD home it is only open to owner occupant bidding until May 5th. If you'd like to view this home, just give me a call. You can find the property on the web link below either on the home search or the HUD link.... more
I would be more then happy to try and help you with this. Could you please email me the address and your contact iformation? I will look into this property and get back to you as soon as I find out what is going on with tht property. My email address is email@example.com... more
I'm sure your Realtor is doing all they know to do for you. Short sales are complicated and the procedures vary from bank to bank. With the information you have from the listing agent, my recomendation would be to let your realtor know and insist on making an offer.... more
Tess you should have your buyer broker or yourself call the closing attorney that is working on closing, and ask for an update. They should be able give some sort of approxomate and if they dont know,. ask them to contact who ever is working on the title to find out. Normal times on average are 30 days to clear the title, some are shorter and some are longer, the key is to stay on them every day, a daily reminder moves them along a little quicker sometimes. As far as compensation for lost time, the contract usually allows teh seller 30 days to fix any defects and usually nothing is given to the buyer, but it never hurts to ask. good luck in getting things worked out.... more
Lease-to-Own deals and Land Contracts are not really big in a "Realtor's world of selling or buying". You may want to check out any Investor's that have "We Buy Houses" signs in your local area (they tend to be more creative when buying or selling) or you may want to do something similar to this post from a person who was from the state of Indiana as well: