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Financing in 19335 : Real Estate Advice

  • All51
  • Local Info5
  • Home Buying32
  • Home Selling2
  • Market Conditions1

Activity 5
Doreen Uysase, Real Estate Pro in Exton, PA
Thu Jul 17, 2014
Doreen Uysase answered:
HI Alex,
I am the site agent at Bailey Station in our new construction community and also a Realtor with Keller Williams. Could you send me your address so that I can help you determine your tax increase for your in law site? Do you have plans already completed for the addition? What is the added SF. You can reach me by email at doreenshomes@gmail.com or by phone at 610-636-4547. I will be glad to help. There may be a more economical way to add that in law suite.

Thank you,

Doreen M Uysase
Realtor, ABR
The Doreen Uysase Team

New Construction Specialist - www.ProvidentHome.com

Keller Williams
Real Estate -Exton
100 Campbell Blvd Ste 106
Exton, PA, 19341
610.636.4547 Direct
610.363.4300 Office
610.363.4399 Fax
Pa. License #RS279559

www.The DoreenUysaseTeam.com
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0 votes 4 answers Share Flag
Ron Beebe, Real Estate Pro in Downingtown, PA
Tue Nov 26, 2013
Ron Beebe answered:
I cannot determine if any of the other persons that answered were from my industry (mortgage lending) but can absolutely attest to the benefit of having the mortgage lender (be it a direct bank like myslef or a mortgage broker) physically present at closing.

In my 12+ years in this business, I have salvaged many closings by picking up the phone from closing and calling the correct party within the lender (meaning I am not put on hold, making both Realtors, all buyers and sellers, attorneys, title agent, builder rep, etc wait).
Wire confirmation, receipt of the signed documents by the lender's closer, etc are all scenarios that have occured to ensure a smooth and timely closing. Some other customer service adds that I provide at closing are:

Explanation of auto-pay (setting it up, advising on best practices, etc)
Escrow (setup, analysis, who gets paid what, how to forward bills, etc)
How to contact the lender (in my case, they always call me first)
Where and how you can pay your bill

TRANSVERSELY, I have heard many, many stories of internet brokers with no physical presence where there is an issue with the closing and it sometimes requires the entire closing to be rescheduled.

Thank you for that question!
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0 votes 6 answers Share Flag
Alan Openshaw, Real Estate Pro in Southampton, PA
Tue Nov 26, 2013
Alan Openshaw answered:
Hello Lisa,

Regardless of whether you can get the foreclosure issue resolved, you have a Bankruptcy in 2010. An underwriter requires clean mortgage history since the bankruptcy and you have a foreclosure the following year. I think there are too many obstacles for you to overcome in getting a mortgage approved at this time.
I sincerely hope that I am wrong and if I am, feel free to come back and tell me so

Good Luck

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
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0 votes 7 answers Share Flag
Ron Beebe, Real Estate Pro in Downingtown, PA
Tue Nov 26, 2013
Ron Beebe answered:
Unless I am missing something, has someone in this thread made the prospective borrowers aware that the FHA MIP (Mortgage Insurance Premium) never goes away?

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/comp/premiums/prem2001

I was very surprised that you were quoted interest rates under 4% in NOvember 2013. I would strongly recommend that you verify the points charges on those loan offers as they are both *significantly* under the current market.

Good luck!
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0 votes 10 answers Share Flag
Gerard Carney, Real Estate Pro in Spring Hill, FL
Wed Nov 9, 2011
Gerard Carney answered:
Any decent bank makes sure they have a tax escrow and an insurance escrow in place it protects them from losing the property first from you not paying taxes, since taxes take first place in any lien situation and then of course they want protection from property lose due to acts of God other natural disaster. ... more
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