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11226 : Real Estate Advice

  • All37
  • Local Info2
  • Home Buying18
  • Home Selling0
  • Market Conditions3

Activity 29
catana yehud…, Renter in Queens, NY
Mon May 23, 2016
catana yehudah asked:
catana yehud…, Renter in Queens, NY
Mon May 23, 2016
catana yehudah asked:
Maxwell Stai…, Real Estate Pro in New York, NY
Fri Jul 4, 2014
Maxwell Stainback answered:

I am very familiar with properties in that area. If you would like to contact me with some more details as to the nature of your comparative search I would be glad to work with you.

Best Regards,
Maxwell Stainback
... more
0 votes 2 answers Share Flag
Mark D, Home Buyer in Brooklyn, NY
Wed May 28, 2014
Mark D asked:
Craig Bosse, Real Estate Pro in Walnut Creek, CA
Thu May 22, 2014
Craig Bosse answered:
You don't have to wait.....

We have a portfolio "2nd Chance" loan that allows you to buy again just one day after Short-Sale or Foreclosure. You can only have one on your credit and you will need a 20% down-payment and 660 mid FICO score. Late payments acceptable.

This loan is available in - AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA, and WA . Loan amounts up to $4 million +

... more
0 votes 19 answers Share Flag
Jim Simms, Real Estate Pro in Louisville, KY
Mon Mar 3, 2014
Jim Simms answered:
Sounds like you are discovering the answer yourself, it is one as long as you get a good one.

Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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0 votes 8 answers Share Flag
Karis Erica,  in Brooklyn, NY
Thu Oct 3, 2013
Karis Erica answered:
Michael Denn…, Real Estate Pro in Queens, NY
Wed Aug 21, 2013
Michael Denniston answered:
Hi Caroline, I can't speak for Wells Fargo, but I've never had a client denied based on an appraisal that came in at or above the purchase price on the contract. The rules on appraisal values for purchases are straightforward: the property must appraise at or above the purchase price (including the sellers concession, if any) in order for the lender to have sufficient collateral for the proposed mortgage.

In fact, the appraisal is not "short" or "low" unless it comes in below the contract price.. And then I normally say " congratulations" to my client because most contracts allows the buyer to go back to the seller and ask them to reduce the purchase price to reflect the actual appraised value. Of course, the seller can say " no." in which case the buyer can opt to make up the difference or walk away from the deal and get their deposit refunded.

You are entitled to receive a copy of your appraisal irrespective of the value along with a Declination Letter stating the exact reason for your denial. Where's your banker and attorney in all this? Are they MIA. There should be no reason for you to seek answers from the Trulia community on this issue when those two professionals are supposed to guide you through the mortgage process from preapproval to closing. Hold them accountable!

Should you require a second opinion on your purchase, please feel free to contact me directly at 917.699.0183 or via email at

I value your feedback, please hit the thumbs up button if my answer was helpful. All the best.

Michael Denniston
Senior Mortgage Loan Originator
NMLS License #24076
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0 votes 8 answers Share Flag
David, Home Seller in White Plains, NY
Wed Aug 14, 2013
David answered:
Looks like the answer below is looking for brownie points answering a question more than 2 years old. Trying to get a VIP badge Joyce?
0 votes 14 answers Share Flag
Joycelewis412, Home Buyer in Sacramento, CA
Tue Aug 13, 2013
Joycelewis412 answered:
There are owners who have had a foreclosure or short sale years ago who just got approved to buy a new home. Nowadays, many lenders have flexible loan programs that you can take advantage of. Visit an expert in your area to see if you qualify. You can also search online.

Check if you qualify for mortgage. Try
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0 votes 2 answers Share Flag
Rhonda Holt, Real Estate Pro in New York, NY
Thu Jul 18, 2013
Rhonda Holt answered:
Hello, by law the bank must select their own appraiser and use that particular report. You are free to do what you like but it will not be used. The reason for this is to make sure the appraiser is working in the best interest of the bank to make sure the price you are paying for the property is valid before they lend you the money and no one is influencing the appraiser. ... more
0 votes 5 answers Share Flag
Jennifer Fiv…, Real Estate Pro in Red Hook, NY
Thu Jul 18, 2013
Jennifer Fivelsdal answered:
It will match only sometimes. Most time it is higher are lower.

During the economic downturn it was not uncommon for an appraisal to be less that what the buyer and seller agreed to. If this was the case the buyer would have to make up the difference, walk away or re-negotiate with the seller., ... more
0 votes 7 answers Share Flag
Milton Monse…, Real Estate Pro in New York, NY
Wed Mar 27, 2013
Milton Monserrate answered:
Hello Smoothcanela9508
Let me help you find your next new place. I have access to over four thousand apartments in every Borough, neighborhood in every price range. Please call me 718-877-9350

Rapid Realty
958 Lafayette Avenue
Brooklyn, NY 11221
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0 votes 3 answers Share Flag
Abu Musa, Real Estate Pro in New York, NY
Fri Feb 15, 2013
Abu Musa answered:
You may talk to a local real estate agent to buy real esatate. Your agent will guide you to success.
1 vote 8 answers Share Flag
Abu Musa, Real Estate Pro in New York, NY
Wed Oct 3, 2012
Abu Musa answered:
You may visit Also you mat talk to the local police station.
0 votes 5 answers Share Flag
Coldwell Ban…, Real Estate Pro in New York, NY
Thu Aug 23, 2012
Coldwell Banker Shayovitz Realty answered:
i'm the Chairman of Approved Funding, a Mortgage Banker. Give me a call. 718-339-8800 -ext 242
0 votes 11 answers Share Flag
Henry Bobker , Real Estate Pro in Brooklyn, NY
Mon Aug 6, 2012
Henry Bobker answered:
i have a listing on flatbush av store front + 2 apts above
bldg is 20x60 and property is 20x100
full basement and nice backyard
the property is FOR LEASE 5 yr term
if interested call
718-633-6701 for viewing and other info
... more
0 votes 4 answers Share Flag
Robert Tracey, Real Estate Pro in Brooklyn, NY
Fri Jul 27, 2012
Robert Tracey answered:

Thank you for your inquiry. I can definitely assist you in this matter. You can contact me at 718-376-4994 or

Robert Tracey
0 votes 4 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Wed Jun 20, 2012
Trevor Curran answered:
Dear Nikki,

If you have a decent credit score (because you pay your bills on time, and don't owe the maximum on your revolving credit accounts, and keep your credit use conservative) then you need to stop worrying so much about inquiries! Most of the credit update junk being offered to consumers is just that : JUNK! It's the credit bureaus trying to make money from innocent consumers by frightening the heck out of us. Don't give in to the madness and the hype.

Here's some TRUTH about credit inquiries: If you are shopping for an Auto Loan, Student Loan or Mortgage Loan, multiple inquiries on your credit report in a 30 day period will have NO EFFECT on your credit score!

Not only have I read this at the FICO (Fair Isaac Company) website, but I have seen this with my own eyes on consumer credit reports. FICO Education page:

I recently had a client whose report showed six inquiries in one day at a car dealership. She was shopping for financing programs and they had run her report six times in a single day. Her score had not changed since I last ran it.

When a mortgage professional tells you "don't let anyone else run your credit," what he's really saying is, "Don't compare my services and terms to anyone else." In other words, he's lying to you to keep you as a client. Me, I prefer the truth and transparency. I also prefer to educate my clients on the finer points of financing so they can make the best decision possible.

More here:

Trevor Curran
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1 vote 5 answers Share Flag
George Capel…,  in Brooklyn, NY
Sat Mar 10, 2012
George Capella answered:
The mail has to be going somewhere, check with all city agencies and see if they have an updated address. Or you can send mail to the owner at the address listed with mail fowarding and return reciept where they have to sign for it. If the mail is fowarded it will show up on the mail reciept.. Good luck ... more
0 votes 3 answers Share Flag
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