Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

19135 : Real Estate Advice

  • All18
  • Local Info2
  • Home Buying9
  • Home Selling2
  • Market Conditions0

Activity 14
Sun Mar 26, 2017
Cintronmilton1951 asked:
I'm buying a home for 32,500 but I was told that I needed a 203k loan so I could fix the property.
0 votes 0 Answers Share Flag
Wed Oct 26, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
... more
0 votes 1 answer Share Flag
Wed Sep 4, 2013
bradypeter answered:
During his initial inspection, the Home Inspector would note "Known Issues," if any, with the roof on your home, and he would recommend that a Roofing Contractor do a more thorough inspection. The Roofing Contractor‘s more thorough inspection would prompt the ordering of the Roof Warranty because of the roof’s age and/or the need for maintenance.

According to your comments, "so called new roof..." Perhaps you should look to the Roofing Contractor, NOT the Realtor. Realtors are not Real Estate Agents! The former are held to a much higher standard, and have far more to lose than mere Agents...

Typical warranty standards within the Roofing Industry provide a 5 Year “Workmanship” Warranty and a 20 Year “Materials” Warranty on a “Re-Roof” and/or New Roofs...

Were "Maintenance Services" performed on the roof during their warranty period[s]? Do you have documentaion?

Maintenance Services are what help preserve the useful lifetime of your roof-top and maximize your investment...it's like a “Tune-Up” for your roof, and should be done yearly.

The “FINE PRINT” on their contracts, however, state that if the customer cannot provide evidence that "Maintenance Services" were performed on the roof during their warranty period[s], their roof warranties become VOID.

Did you read the Roofing Contractor's Warranties...if in fact it was a new roof?
... more
0 votes 5 answers Share Flag
Tue Apr 17, 2012
Denisecia Porter answered:
BEFORE CHANGING LENDERS OR ANYTHING LIKE THAT CONTACT YOUR LOAN OFFICER. THEY DO NOT HAVE ANY CONRTOL OVER WHAT MAIL THAT IS SENT FROM THE PROCESSOR OR UNDERWRITTER BUT THEY CAN TELL YOU WEITHER OR NOT THEY REALLY NEED TO YOU TO SEND THE SAME PAPERWORK AGAIN.

IF YOU CAN NOT GET IN TOUCH WITH THE LOAN OFFICER CONTACT YOUR REALTOR THEY SHOULD BE ABLE TO GET IN TOUCH WITH THEM.
... more
0 votes 9 answers Share Flag
Tue Apr 10, 2012
Alan Openshaw answered:
Hello Nichole,

the underwriter will approve the loan but they wont tell you that it is approved. That may be your broker or banker that wil do that. However, in certain cases your loan will go to someone else for further aproval after the underwriter. Sometimes the bank has a quality control check. If you have mortgage insurance the MI company will need to approve the loan. If you have PHFA that will be another step for approval.. However the person that took your loan application hsould be able to answer those questions

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960
... more
0 votes 4 answers Share Flag
Sat Apr 7, 2012
Don Tepper answered:
Yes.

No.

Yes, you can try again. However, it either has to be done within the time frame specified in your purchase agreement, or else the purchase agreement has to be amended (agreed to by both parties) to extend the time you have to purchase.

No. They probably won't tell you precisely what you need to improve. Your loan officer might be able to look at your application and figure out what the weaknesses are. Or you might be able to ask the underwriter why the loan was rejected. So, to the extent you can find out why you were rejected, you probably can figure out what needs to be improved. But the underwriter isn't into credit counseling.

Recognize, too, that if you've been denied and want a loan for the same property, you really probably don't have enough time to go through the steps needed to "improve" your credit history or score. Not enough time to successfully contest erroneous entries. Not enough time to pay down some debts, have your debt-to-income ratio adjusted, and have that reflected in a new credit score. Those can be done fairly quickly, but probably not quickly enough to rescue a pending purchase.

If you do apply elsewhere, let the loan officer or mortgage broker know your history so that he/she can look for a product (or a lender) where you might be approved.

Hope that helps.
... more
1 vote 2 answers Share Flag
Fri Apr 6, 2012
Fran and Mark Redding answered:
The approval is always contingent upon the appraisal. Furthermore there is never a guranteed approval until the funding of the loan. There are always last minute checks on employment and credit which usually takes place a day or two before closing. ... more
0 votes 7 answers Share Flag
Thu Jul 1, 2010
Erica Ramus, MRE answered:
The two answers below cover it nicely. If you have a one or two year lease, great. But if you are month to month you might want to lock in to a longer contract, though, so that someone couldn't ask you to leave with 30 days notice. Just something to consider. ... more
0 votes 3 answers Share Flag
Tue May 18, 2010
Robert A. Martini answered:
Marcie-
When selling your primary residence, you may be permitted to exclude up to $250k profit from the sale on your tax return. If married and filing a joint return, you may be able to exclude up to $500k. These exclusions are allowable only if you haven't excluded an earlier gain within the same two-year period ending on the sale date of your current home. You need to have lived in your home for a minimum of two years under the law, which you have.

Just so you know....Capital gains are calculated by the net selling price (sale price minus real estate commissions and closing costs) minus the adjusted basis (original cost plus capital improvements).
Hope this helped!

Robert A. Martini
REALTOR®, e-PRO®
Keller Williams Real Estate
Philadelphia PA
215.605.5497
... more
0 votes 1 answer Share Flag
Tue May 18, 2010
Robert A. Martini answered:
Dear Rr-
Yes. It is fairly easy. First if it is not listed with the information you are looking at, contact the real estate company that sold the property. This is not guarded information and they will be happy to oblige. Check out a recent sale of mine at http://www.padreamhouses.com/web/pgcnfID_62713/listID_67178/SOLD-ABOVE-LIST-PRICE.
If you need any more help give me shout!
Good Luck!

Robert A. Martini
REALTOR®, e-PRO®
Keller Williams Real Estate
Philadelphia PA
215.605.5497
... more
0 votes 2 answers Share Flag
Thu Sep 17, 2009
Erin Rowley Stoner answered:
Do you know your neighbors? If you have their contact information-- give them a call.

I'm guessing you don't live in a neighborhood with a HOA? If you do, that would be my first step. They can give notice to the owners citing cc&r's with a time limitation to have the porperty cleaned up. If they do not abide, the HOA can have the yard maintained and put a lien on the home.

My next step would be to report it to the city or county, whomever you pay your property taxes to.
... more
0 votes 2 answers Share Flag
Wed Jul 22, 2009
Joe Sheehan answered:
There will be a free webinar for PAR members tomorrow to discuss the PHFA Tax Credit Advance Loan Program as mentioned below by @Terrence Charest. The webinar will be held Thursday, 7/23/09 at 10:00 AM EDT. If you wish to attend, register at https://www1.gotomeeting.com/register/629038585 .

Also, I am personally aware of properties in Chester County PA that qualify for USDA rural loan. The properties I am aware of are in the western region of Chester County west of the City of Coatesville. I am sure that there are others, particularly in southern Chester County but I have personally checked with USDA on the status of properties near Coatesville.

I hope that's helpful. Best of Luck.

Joe Sheehan, ABR, SRES
RE/Max Professional Realty, Inc.
Exton, PA 19341
(610) 363-8444
jsheehan@josephsheehan.com
... more
0 votes 8 answers Share Flag
Mon Jul 23, 2007
Ken Galleo answered:
one car size is enough.just going to store cloths extra things around the house.
0 votes 2 answers Share Flag
Search Advice
Search

Followers

639