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06511 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying7
  • Home Selling0
  • Market Conditions0

Activity 10
Apple95jack, Home Buyer in Chicago, IL
Thu Jul 21, 2016
Apple95jack asked:
Right now my husband and I are trying to close on a 203k refinance and the paperwork is just dragging on - we are hoping to close soon (we're almost a month past our initial anticipated…
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Christopher…, Real Estate Pro in Tarrytown, NY
Wed Sep 18, 2013
Christopher Pagli answered:
It can be done and will depend on the landlord in question. If you are going through a management company you will have a tougher time as they are strict. If you go directly through a landlord and can prove you are on the mend you might have better luck.

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Theodora, Renter in
Tue Sep 17, 2013
Theodora asked:
My boyfriend and I recently mailed in our application for an apartment in New Haven Ct. His credit score is high and mine is low...553. I had some touble about 3 years ago almost 4 and…
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Julie Traver…, Real Estate Pro in Naugatuck CT 06770, CT
Fri Apr 12, 2013
Julie Traver Lucia answered:
Hi T_phD, I would suggest you speak with a local lender and i can suggest a few, please contact me and I would be more than happy to supply you with their information. Once you and your partner do get qualified, I would love to put my many years of real estate experience to work for you to find you both the property you are looking for. Look forward to hearing from you, Julie Lucia, Realtor, Coldwell Banker Realty 2000, 203-578-5631. ... more
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Mike Johnson, Real Estate Pro in NEW HAVEN, CT
Thu Dec 6, 2012
Mike Johnson answered:
You are wrong regarding FHA down payment. FHA is now 3.5% down and MIP( PMI) is required regardless of the percentage down. There are income limits for CHFA, therefore you should consult with your Mortgage Loan Officer as there are exception to the rule. ... more
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Mike Johnson, Real Estate Pro in NEW HAVEN, CT
Thu Dec 6, 2012
Mike Johnson answered:
Phil Zimbardi, Real Estate Pro in Orange, CT
Fri Sep 14, 2012
Phil Zimbardi answered:
Yes you should. Technically the landlord should be using it to pay the mortgage, but that does not always happen.
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Mina Patel, Real Estate Pro in Fort Wayne, IN
Tue Feb 14, 2012
Mina Patel answered:
First of all, if a seller defaults on his or her loan and misses 3 payments, the lender usually starts foreclosure procedures. It seems as though the sellers in this case were in default and you may not have been aware of it, so one of the things the seller can do is try to stop the litigation. In this case you should consult a real estate attorney to advise you and guide you in the right direction.
I recently closed on a property that was in a very similar situation. Depends on how far the litigation process is, the attorney should be able to help you.
Good luck and best wishes.
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0 votes 10 answers Share Flag
Maggie Griff…, Real Estate Pro in Berlin, CT
Thu Feb 9, 2012
Maggie Griffin answered:
To be honest - when a home is currently in litigation prodeedings for a strict foreclosure, that means you may have a difficult time to entertain with your bank to sell your home under a phrase called "short sale". What a short sale is - defined as simple as can be, when a home owner wants to avoid strict foreclosure and make an agreement with their bank to sell their home under a short sale based upon specific reasons, such as job loss, divorce, illness, un-employment and even death.

Many who specialize in short sales understand that giving you this advice once the home is already under a litigation for strict foreclosure, the best option is at this point to speak to an attorney to get the advice you need. It is a process, whereas, if you want to avoid a strict foreclosure situation, you may have to work out what is called a mortgage mediation - of which you will need an attorney for. Outside of that, if you are in fact in foreclosure litigation - it may be too late to entertain what is called a short sale. Seek your answer from a real estate attorney.
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Mike Johnson, Real Estate Pro in NEW HAVEN, CT
Tue Jan 10, 2012
Mike Johnson answered:
It can last seemingly forever with regular maintenance and updates.
0 votes 10 answers Share Flag
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