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Home Buying in 22201 : Real Estate Advice

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  • Local Info4
  • Home Buying40
  • Home Selling2
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Activity 40
Fri Aug 7, 2015
gigi otar answered:
Hello Abena!

As a realtor working this particular zip code, I can tell you that rent-to-own options only happen in slow, sluggish markets where sellers can't find buyers.
22201 is hardly that zip code.
I am sure that if you were to speak with a good loan officer, they would be able to direct you to loan programs that would not only match the amount you would be paying for a rental/monthly but also assist you with possible down payment assistance depending on your price range. The zip code you are looking under is THE most expensive and sought after zip code right now where a one bedroom at the minimum costs $400K.

I hope this helps you!

Gigi
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0 votes 1 answer Share Flag
Mon Jul 13, 2015
Anna M Brocco answered:
It may/may not--Really depends in your sons' overall financials, timing, etc., therefore discuss with your loan officer....
0 votes 1 answer Share Flag
Mon Jun 8, 2015
Pvarnell99 answered:
you should be able to put her on the deed and not on the loan
0 votes 20 answers Share Flag
Sat Apr 11, 2015
Kelly Putz answered:
Hi Liz,

It looks like you probably have already closed on this, but for anyone else considering doing this - DON'T. If the loan is in your name only, there is no reason for anyone else's name to be on the deed, especially if you are not married. If you are married and the loan is only in your name, there are other legal reasons to not have your spouse on it, but consult with an attorney (or CPA for tax purposes). If this other person is putting up part of the down payment and you REALLY want them to be a part of the transaction, then have the settlement company record a 2nd lien on the property AFTER the settlement, with your friend as the lien holder for the amount they put in. That way they "feel" they are part owner of the house.

If you should break up, they can't claim ownership but you have to pay them back for what is recorded on the lien, because they can prevent you from selling while that lien creates what is called a "cloud on the title". Be sure that you have the payoff of the lien recorded with the county so you'll have clear title whenever you go to sell the home.
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0 votes 6 answers Share Flag
Mon Aug 18, 2014
Lorena Dennehy answered:
Hello Paul,

I am a Senior Loan Officer for a local lender in Fairfax, VA. There are many factors that go into a pre-approval, but I would be happy to take a look for you. At this point, the best thing you can do is get free advice on how to build your credit score. I can provide that via a "credit analyzer". This is free of charge to you and will help you get on the right track. Feel free to reach out to me when it is convenient for you.

Very Best,

Zac Dennehy, NMLS #1045494
Senior Loan Officer
MVB Mortgage, NMLS #181319
11325 Random Hills Rd, Suite 100
Fairfax, VA 22030
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0 votes 5 answers Share Flag
Fri Jul 25, 2014
My NC Homes Team answered:
This is absolutely a legal question. If you won property and have children you need a will. Sit down with an attorney and start discussing it.
0 votes 2 answers Share Flag
Fri Jul 25, 2014
Anna M Brocco answered:
Why are you here, you really should be consulting with an attorney and not relying on online information....
0 votes 1 answer Share Flag
Thu Jul 24, 2014
Debra (Debbie) Rose answered:
0 votes 1 answer Share Flag
Fri Jul 18, 2014
Matt Leighton answered:
Be sure to look at condos too. Sometimes you get a better deal by working directly with the landlord as opposed to a large management company.
0 votes 3 answers Share Flag
Sat Jun 14, 2014
Dan Tabit answered:
Cheri,
There are safe, legal ways to address this, but you need to get an attorney or Escrow to help you. One consideration would be a prenuptial agreement specifying this issue only, but discuss the options with an attorney who can give you the pros and cons of all the options. ... more
0 votes 1 answer Share Flag
Thu Mar 6, 2014
George Eckerle answered:
I agree with the fine answers provided below about needing to check with an attorney. Above and beyond the question of what would happen to your interests if you divorced, or never married, you need to consider what rights you would have if your intended passed away. ... more
0 votes 8 answers Share Flag
Mon Aug 26, 2013
Chris Ognek answered:
If for some reason the lender you are working with does not allow the spouse to be on the deed because they are not on the mortgage, you can do a quit claim deed after closing. You can do it and file it at the courthouse or you can have an attorney do it for you - probably $200 or so. ... more
0 votes 2 answers Share Flag
Wed Aug 14, 2013
Title Agent 64055 answered:
I work for a title company and ths happens quite often. The trick is to find the successor of the bank. Try the governments website for old banks. Called the FDIC Bank Find.
http://www2.fdic.gov/idasp/expired.asp ... more
0 votes 3 answers Share Flag
Wed Aug 14, 2013
Title Agent 64055 answered:
Sure you can. You can take title together as tenants in common or joint tenants. Joint Tenancy ensures that the full interest of the property passes to the survivor of the two, while Tenancy in Common deals with split interests, so to speak. Upon your death, your half would be split amongst your heirs, while the other tenant retains their half. ... more
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Tue Aug 6, 2013
Gary Hughes answered:
My suggestion: See an elder law / estate planning attorney. Make sure the attorney is a member of NAELA (National Association of Elder Law Attorneys) Based on what you have said there is a lot more to consider than just real estate. You may also want to read "How to say it to Seniors" by David Solie. ... more
0 votes 2 answers Share Flag
Thu Jul 4, 2013
Thomas Moser answered:
What you need to do is see a lawyer. This is not something that you should try to do yourself.
0 votes 6 answers Share Flag
Sat Jun 22, 2013
Christina Hayes answered:
Is the loan in both your names? Are you both going on the title of the home or deed? Then you will be an owner.. Talk to the title company doing the closing, and the lender doing the loan. They can assure you will be accurately added as a part-owner of the property.

Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Making home ownership more than a dream...
Retired Mortgage Banker
http://www.everlastingcredit.com
https://www.facebook.com/EverlastingCR?ref=hl
http://www.trulia.com/blog/christina_solorzano/2013/06/how_t…
... more
0 votes 6 answers Share Flag
Tue Feb 5, 2013
Sara Rubida answered:
Lenders don't accept half a mortgage payment. If you are on the mortgage, as I understand it (being a real estate agent rather than a loan officer), you are liable for the full mortgage payment. So be sure you are confident about the other party or parties on your mortgage. ... more
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Tue Nov 13, 2012
Mandy Nicksolat answered:
some swing sets are attached to the ceiling and or screwed to the floor. so long as they are attached to something else they must stay- if they are loose and not attached , hooked to anything else and can be freely moved around on the porch from one location to another location then it can be taken by the seller. This is how it is read in VA and I will bet many states contracts follow the same. ... more
0 votes 13 answers Share Flag
Fri Oct 19, 2012
Jeff Lubell answered:
There is a process called Contract for Deed. This may be something that can help you with your request. You really want to speak with someone who understands all the details. A Real Estate Attorney may be your next step to see if this will work for you. ... more
0 votes 3 answers Share Flag
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