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Home Buying in 11221 : Real Estate Advice

  • All31
  • Local Info1
  • Home Buying15
  • Home Selling2
  • Market Conditions1

Activity 15
Thu Nov 3, 2016
Gjannini answered:
0 votes 11 answers Share Flag
Fri May 29, 2015
Kelly Pessis answered:
Your contract is most likely written that once approved you have a certain amount of time to perform inspections. You might never get to that point so save your time and money and wait until you have WRITTEN bank approval in hand. ... more
0 votes 12 answers Share Flag
Fri May 29, 2015
Kelly Pessis answered:
No, not unless it is some sort of government program. I do suggest that you join an apartment owners association in your town. They usually offer advise, documents and legal questions. I belong to the AOA, but that is specific to my area... you will want one versed on your specific areas rent stabilization laws (if any), state laws, etc.

I am a realtor with 15 rental properties in three counties and I can tell you, keeping all of the ever changing rules straight is tough. Having an assistance "hotline" such as provided with a rental organization, has helped tremendously!

The final word of advise: screen your tenants well! Check references inside and out and know that people make up rental histories, employment and everything under the sun. Do your homework, maintain control over your property (rather than give it to management company if it is small enough) and learn to trust your instincts. Most of all, buy more - it is a great retirement plan!

Best of luck and i you found this useful, I would appreciate a vote for "most helpful"
... more
0 votes 5 answers Share Flag
Fri May 29, 2015
Toni Licciardelli answered:
The liens on the property exceed the market value of it, and the bank (usually primary lien holder) basically agrees to release their claim for an amount 'short' of what is owed to them. ... more
0 votes 3 answers Share Flag
Sun May 18, 2014
Dan Tabit answered:
Tim is correct. It's not uncommon for homes to go in and out of foreclosure, so you don't want to fall behind and get evicted. If the Foreclosure is completed, you'll hear from the new owner with their plans for the home. Check with the Landlord Tenant Law, regarding your rights in this situation, but not paying rent isn't one of them. ... more
0 votes 2 answers Share Flag
Thu Jan 23, 2014
Jean Paul Ho answered:
GET UP TO $ 65,000.00 IN GRANT
Why rent? Is there anyone giving YOU money to rent? Any tax deduction? Rent KEEPS going up in Brooklyn? Own CHEAPER than renting - You are in a fixed income- You NEED a FIXED mortgage! While building EQUITY? Find out if you Qualify for up to $ 65,000.00 in grant money (You do not have to repay-subject to condition & terms) Would you hate to find out that you qualify AFTER closing on your house & it's too late? How would you feel paying more than everyone else? We have helped MANY..... family OWN when they thought that they can only RENT!!! START the New Year right & make a difference for your family! Leave a LEGACY to your family!!

Free Homebuyer's Seminar
3:00 pm. Sunday 2/9/14 & 2/23/14
Come find out:
How to qualify for up to $65,000.00 in grants (Do not have to pay back - Subject to certain restrictions)
Get Pre-approved & lock in your rate (Rates are going up)
Sonyma, FHA, FHA 203, Renovation Loan, VA loan & much more
Citilift, HomeFirst, NACA ,Saving , Credit counseling & more!

SUNDAY February 9th,2014 3:00 PM
Brooklyn Real Property
9201 Flatlands Avenue
Brooklyn New York 11236
Corner of East 92 Street
To RSVP Call (718)272-8988

SUNDAY February 23rd,2014 3:00 PM
Brooklyn Real Property
389 Atlantic Avenue
Between Bond and Hoyt
To RSVP Call (718) 875-8899

Visit over 2000's listing!
Brought to you by "Brooklyn REAL Property,Inc."
WE care about our community & give back by EDUCATION!
... more
0 votes 4 answers Share Flag
Thu Jan 23, 2014
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.

It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
1 vote 9 answers Share Flag
Wed Nov 6, 2013
lendersnetwork answered:
FHA allows lenders to go down to a 580 credit score for home loans. Most lenders do not and they require a minimum score of 620, we work with a lot of people with scores below 600. Check out our site or shoot me an email I would love to help you out. ... more
2 votes 6 answers Share Flag
Wed Oct 30, 2013
Mitchell Feldman answered:
Dear Car:

Without seeing a copy of your contract and/or having more details, there is no way to tell. If it is simple estate, it can take 30 to 60 days. If there are issues that need to be worked out with regard to the estate it can take years. You need to speak to your attorney.

If I can be of further assistance, contact me direct. Good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
... more
0 votes 3 answers Share Flag
Thu May 2, 2013
Lior Raviv answered:
I don't think there is much you can do at this point. My best advise is to start over and try to stay away from similar situations going forward.
0 votes 7 answers Share Flag
Sun Jan 6, 2013
Alicia Lopez answered:
I have a 2 family house for sale in Canarsie in SUPER excellent condition. But if you only want BS then let me know whats your price range?
0 votes 6 answers Share Flag
Sun Jan 6, 2013
Claudia Williams answered:
You've made the best decision to buy in Bed-Stuy. Please give me a call to discuss your specific needs, I'm sure we can find something to your liking. (347-850-2799.
0 votes 4 answers Share Flag
Sat Feb 4, 2012
Lior Raviv answered:
Hello my company specialty is foreclosures homes and short sales homes in Brooklyn area. I will be happy to help you in understanding more about this market and give you a good advice about buying these kinds of homes. Feel free to call me with any quetion, im here for you. Lior 718-880-2170 ... more
1 vote 1 answer Share Flag
Mon Feb 8, 2010
Thomas McGiveron answered:
in brooklyn - i do not work that area. however - 203k loans are designed for exactly that. of course you must qualify. i know someone at wells fargo who can assist - email me ... more
0 votes 1 answer Share Flag
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