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Home Buying in 23434 : Real Estate Advice

  • All33
  • Local Info3
  • Home Buying13
  • Home Selling4
  • Market Conditions1

Activity 13
Sat Sep 2, 2017
David Pratt asked:
Thu Apr 14, 2016
Lawrence Davis asked:
Tue Jan 14, 2014
Mark Edwards answered:
Sean,

Just checking to see if you found a new home yet in the Suffolk area. If not, you may be want to take a look at our new home communities- The Riverfront at Harbour View in north Suffolk and Founders Pointe- located in the Carrollton area of Isle of Wight County located 10 minutes up Route 17.

I'm happy to assist you in any way if you'd like to compare building a new home versus a resale home. Our lot prices start at $85,000 in Founders Pointe currently and $120,000 in The Riverfront.

Good luck in your new home search.

Mark Edwards GRI, CSP
Senior Vice-President/Broker
East West Realty
(757) 288-7584
... more
0 votes 9 answers Share Flag
Mon Sep 23, 2013
Brian Nguyen answered:
This is possible but it depends on others factors as well. These factors include your employment, credit scores, debt, assets, liabilities, etc. If all of these financial details are in place it is definitely possible. The best way to figure this out and to not have to put your financial information all over the internet is to speak with a lender directly. There are lenders like myself that would be more than willing to speak with you to help you get the loan that you need. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 6 answers Share Flag
Wed Jul 24, 2013
Lori Jeltema answered:
I feel that you do need an attorney, along with an experienced agent. There are a lot of documents that the bank will want you to sign. Depending on your loan, you may be asked to sign a promissory note. I would suggest talking with a few agents and definitely consulting an attorney. Feel free to call me if you have questions. ... more
1 vote 10 answers Share Flag
Sat Jul 20, 2013
Jeff Lurie answered:
Hi vmhill,

You are not alone with your question. Real estate professionals are asked something similar every day. The truth is, it really depends on your individual situation combined with the willingness of one bank versus another to finance your new loan. You may receive a dozen denials before finding a loan officer who will even sit down to discuss it with you. I obviously cannot make magic happen, but there is a section on my website titled, "What the heck is a Short Sale?". My suggestion would be to take a moment to read it and I would be happy to answer any questions you may have. I have quite a few contacts with loan officers who service Suffolk buyers. The web address is listed in my signature line below.

I look forward to hearing from you!

Jeff Lurie
Wainwright Real Estate
Specializing in Suffolk, Franklin, Smithfield, Chesapeake, and Isle of Wight County
Licensed Real Estate Agent in Virginia
"Let's Make Moves Together!"
www.myopenhouselist.com
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0 votes 5 answers Share Flag
Mon Jul 15, 2013
Jeff Lurie answered:
Hi jeanterri1,

I remember that you were interested in 260 Copeland Rd. As Bob stated, that one is no longer on the market. However, there are quite a few similar properties available in Suffolk. Let me know if I can help you out at all.

Jeff Lurie
Wainwright Real Estate
Specializing in Suffolk, Franklin, Chesapeake, and Isle of Wight County
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0 votes 2 answers Share Flag
Thu Dec 27, 2012
Lori Jeltema answered:
Hi Andrew, There are different options out there but you really need to talk with a good lender.

If you are eligible for a VA loan, for instance, the seller may be able to pay off a certain percentage of your debt.

Feel free to drop me a line (call/email/text) and I'll be happy to see if you can get things going on a purchase.

Lori
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0 votes 1 answer Share Flag
Thu Jun 7, 2012
Elliott R. Oliva answered:
Unfortunately you are dealing with a loan officer that seems to be a bit incompetent/inexperienced. He/she is apparently not qualified enough to perform some simple math to determine what your debt ratios were well before you were pre-approved.

It's sad to say but there are a lot of lenders out there that will haphazardly issue a pre-approval letter without completing any due diligence. They let you the client spend money on earnest money deposits, inspections and appraisals without having a clue if you will even qualify. Happens every day.

I am sorry to hear that you have to deal with such frustrations but I hope you will eventually accomplish your goal of becoming a home-owner. In the meantime you need to familiarize yourself with a proper Pre-Approval. Take a minute to read this: http://www.trulia.com/blog/elliott_r_oliva/2011/12/pre-appproved_vs_pre-qualified_what_s_the_difference

For questions or concerns please contact me at your convenience. Thank you and best wishes!

Elliott R. Oliva
Mortgage Banker
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0 votes 4 answers Share Flag
Thu Nov 4, 2010
Tim Wies answered:
Click here:
http://gis.suffolk-va.gov/yourmap/index.jsp

Select Query, then enter the street name in the top box and click next. That will give you the account number (4th column); save it. You can also click on the graphic in the first column to show the property in the GIS map.

Now, go here:
https://eservices.suffolk-va.gov/applications/trapps/reiindex.htm

Select Account number, and enter (or copy/paste) the account number retrieved above and click on search. This will show you the tax records for this property and what they current taxes are.

Also, go here:
http://www.suffolk.va.us/realest/Search_Real_Estate_3.html

Select account number in the first drop down and enter the account number retrieved above, then click on FIND. This will give you the current assessment, past assessment, and sales history of the property.

I hope this helps,
Tim
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0 votes 3 answers Share Flag
Thu May 6, 2010
Charles Lewis answered:
You have many options available to you! What you do not want to do is ignor the situtation. Start talking with your lender and a Realtor in the area. They can help provide you with your options. For information about avoiding foreclosure visit my website! ... more
0 votes 12 answers Share Flag
Sat Aug 8, 2009
Dawn Crocker answered:
Hi Courtney,
When you say serious credit concerns with your current mortgage, do you mean you have been late? The lenders like to see a year without being late. However, many times they will take into consideration the situation. We have a great local lender that can certainly advise you and will take the time to help you clear up any issues you may have on your credit. Feel free to give me a call or email me and we would be happy to provide you with the lender information. ... more
1 vote 1 answer Share Flag
Wed Apr 8, 2009
Will answered:
Sell the home and make sure that the purchase contract (if this is going to be a short sale) has a clause that the bank will not file a deficiency judgment against you after the sale of your home AND another clause stating that they will report your mortgage on your credit as paid in full along with a letter to back it up (sometimes the banks don't updated the bureau correctly) and go to the IRS website and fill out the proper forms of hardship so they don't charge you income taxes on the difference of the sale amount and your mortgage. If you do a deed in lieu, you will owe income taxes on the whole mortgage, it may be harder to plead a hardship with the IRS when they will see on record you had an offer to purchase your home and it will will report negatively on your credit report. You are saving time and money for the bank by doing a deed in lieu when you could just force them to foreclose on you which allows you to live in the home longer and save your money.

It sounds that you are afraid of the offer not going through and you want an easy way out, but this is a home investment that you made and although people may paint home ownership as a pretty picture, in some cases its not. My direct advice is to suck it up, take the deal (short sale or not), apply the simple techniques indicated above (and get an attorney to assist you!) and get this house behind you so that you can move on.

And think twice before you attempt to purchase your next home (which will be A LOT harder if you do a deed in lieu).

Good Luck!

Will Concord
... more
0 votes 13 answers Share Flag
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