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28387 : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 5
Sat Mar 25, 2017
Karen answered:
No law states what acre requirements but rule of thumb is 2 acres for 1 horse and 1 acre for additional horses but depends on size of horses. This gives sufficient pasture for grazing and less chance of bare land mud ect. But remember to place proper grazing seeds in bare areas. Do your research on proper and different types. ... more
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Sat May 16, 2015
george northup asked:
I clicked on the wrong side of the star rating, should be a 5
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Mon Dec 2, 2013
Trevor Curran answered:
FICO credit scores are the standard for financial decision-making. Vantage is a proprietary system of one of the credit bureaus and is almost NEVER used in the decision-making process. Further, as you can see, the Vantage score can vary greatly from the FICO score. Bottom line: your credit score is 577.

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://www.consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Wed Nov 20, 2013
Andy Matejka answered:
Good Links below....

Generally speaking, most consumers don't realize the critical importance of having 2-3 accounts open and actively reporting their positive payment history each month.

Be sure that you have accounts open and active or go and get them now. It doesn't take much time to get your score up higher.

If you have questions, feel free to email or call me. I have family in Moore County and am familiar with the area, not to mention all the eligible loan programs at your disposal.

Andy

NMLS # 153268
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Mon Mar 26, 2012
Jeremy Hollingsworth answered:
If your basement has windows especially for egrass purposes it would be a better deal for you to add an additional bedroom & 1/2bath. However, always be reminded way you are finishing this room. Is it for you or are you going to be moving in few years.

A wet bar may be good for a single person or even a couple without kids depending or the size of the house. But you will always come out ahead with an additional bedroom or spare room that you can double as an entertainment area without any permanent fixtures in the room.


Jeremy L. Hollingsworth
ERA Strother Real Estate
I don't just sell homes, I sell DREAMS!
910-978-0685

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