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30014 : Real Estate Advice

  • All23
  • Local Info3
  • Home Buying12
  • Home Selling0
  • Market Conditions3

Activity 21
Tue Mar 7, 2017
Hello, I'm a mortgage professional.

When I pre approve someone one of the first things I review besides credit is your income documents.

Generally in order to submit a file to underwriting you would have to collect the borrowers income documents.

Our underwriting only takes 24-48 hours.

I can do VA loans and I respond to my clients almost 24/7. You can look at my zillow reviews if you would like.

If you would like help with this or have any other questions you are welcome to get in touch with me.
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Thu Dec 10, 2015
Russell Baker asked:
Looking for property to build self storage facility (ies) and wondering if I need a Realtor familiar with the area(s) and zoning.
0 votes 0 Answers Share Flag
Wed Jul 29, 2015
Usda Mortgage Source answered:
USDA is all about the physical location of the home... it must be located in an approved USDA area and must meet HUD standards on condition.

Read the link below in the web reference section for more info about this topic

USDA Mortgage Source
FL & GA USDA Loans, 7 days a week.
Ph: 904-302-6060
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Fri Jul 24, 2015
Collise Anderson answered:
To answer your question, no it is not illegal for the Buyer to contact the seller. I would suggest you go through your agent to communicate with the seller. However, you could write an email to the seller and have your agent forward it to the listing agent, in turn the listing agent forward it to their client the seller. ... more
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Sat Feb 14, 2015
My NC Homes Team answered:
Pre-qualified is essentially a worthless piece of paper. The lender speaks to you on the phone, runs you through the automated approval system, may check one credit score and your done. They do not verify income or assets, nor do they verify employment.

In a pre-approval all of the above are done as a full tri-merged credit report is pulled. This requires you to submit a minimum of two years of tax returns, 2-3 months of bank statements, and to fill out a the lenders initial questionnaire. The best Realtors want this done in advance and it's to the buyer's advantage to be fully pre-approved as it pts them both in a fast track position in terms of when they make an offer as well as the strongest possible position they can be in (short of being cash buyers) when they tender an offer.
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Mon Dec 24, 2012
Hi Jennifer,
The actual owner of a foreclosed property can be very difficult to determine. In the end, the identity of the seller makes very little difference to the potential buyer. Only Fannie Mae and HUD offer any type of special financing for their REO properties. Once listed for sale, Fannie Mae or HUD will identify the eligible properties on their individual websites. With all other REO sellers, regular loan programs (i.e. Conventional, FHA, VA, USDA, FHA 203K Renovation, Jumbo, etc) would be used to purchase and finance the property.

When it comes to REO properties, you must wait until the property is actually listed for sale. REO departments of mortgage companies will not talk to or entertain offers from individual buyers. All offers to purchase an REO property must be submitted by the Listing Agent assigned to the property.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
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Mon Oct 1, 2012
I believe FHA does berm homes (3.5% down), USDA (100%), VA (100%). Rodney Mason and I answered this question on June 10, 2011. Search Trulia for that date. It's too long to cut and paste here. Or Google FHA berm loans. The hardest part will be finding com parables for a lender to use for value. ... more
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Sun May 29, 2011
Tony Wilson answered:
120 Kinloch is showing active in the Georgia MLS . The list price is $489,000. I can show youu this property if you are interested.Click on the link to see the listing. ... more
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Tue Mar 15, 2011
Melissa Barkalow answered:
As others have mentioned, what is in your ratified sales contract? Do you have a ratified sales contract? What is important what all parties agreed to, so if in the ratified sales contract is says April, than that is the agreed on date, but if you signed an agreement to move the settlement date up to 3/21 than and all parties signed and agreed than 3/21 is your settlement date. You should review your sales contract and see what date is in it.

Good luck!
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0 votes 6 answers Share Flag
Fri Mar 4, 2011
Jd answered:
Thanks everyone. Your insight has been helpful.

Dale, Thanks for your reply about the rentals in 30016. In fact I would believe you about the prices, as I am in the area frequently. I spotted a nice 3/2 on Fairview(Off Salem) for $50k that didn't need much rehab for a Tenant.

However, I would be amiss if I didn't ask if the rental calls you receive include Section 8 requests? Or perhaps Lease Options for less than desirable credit options?

Lastly, does your Prudential team offer listings of the REO's available in these areas?

Thanks again everyone.
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0 votes 5 answers Share Flag
Wed Dec 15, 2010
Reo1 asked:
Mon Sep 27, 2010
Ken Cook answered:
Highly recommend you still get an appraisal unless you are 100% sure the property is worth at least what you are paying for it or absolutely sure you're not going to sell it or borrow against it in the future. You cannot judge only by what the house down the street sold for. You'll still be paying agency fees (in the sales price) unless it's a FSBO. ... more
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Mon Aug 9, 2010
Hi Samantha, congrats on your new home, and I must agree with most others on here, contact your LO, and discuss why the loan has not been submitted yet. In this market, with the great rates, underwriting is swamped, so to my mind, the old adage the sooner the better comes to mind.
Home Savings is currently at 48 hour underwriting, however, it is 72 hours to review conditions. Remember, those are business days....Good luck, I do hope you close on time without issue!
Jim Ryan, Home Savings of America, 703 591 5626 ext 419...Nationwide for 75 and still growing!
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Mon Nov 30, 2009
Dr. Cynthia M. Davis answered:
You would be eligible for the Tax Credit. Keep in mind the credit is based upon 10% of the sales price of the property. If you purchase a $40, 000 home. Your available tax credit would be $4,000. The credit is 10% of the sales price up to $8,000. Not a flat $8,000 credit for each home purchase. The best way to know what amount you qualify for is to contact a lender and get pre-qualified for your purchase. This is the best way to know exactly what you can buy and get financing for at the same time.

It would be my pleasure to assist you with this process. Please contact me with any additional questions and or concerns.

Cynthia M. Davis, Broker
ALERT Real Estate Services
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Mon Jul 20, 2009
Look at this blog it will help you to learn more about mortgages.
I've got most of my answers there as well.

Good Luck.
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Fri Jun 5, 2009
James Dudley answered:

It's probably the NSP grant program. There are very few if any lenders that have approved this program. Many lenders have not approved it because the lender must front the money for the grant.

It's a difficult loan to process and the closing percentages are low. This may be why sellers are rejecting your offers.
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Tue May 26, 2009 answered:
Any reasonable person will tell you that sooner or later public transportation will be in Newton County. As people get smarter and more conservative they tend to drift closer and closer to public transportation. The plans for a Marta expansion project linking Atlanta with Conyers have been in the works for more than a decade. As the city expands into the suburbs and the area grows public transportation eventually becomes a neccesity. in most other areas around the country there is not such a grim outlook on public tansportation. In most northen states using Public Transport is a way of life. It cuts back on fuel costs and automobile repair and in some places theres no need to own a car at all which cuts out insurance and car payments. Due to Georgias changing demographic's many older generations have been scared away from the idea of public transportation which has contributed to a lack of use and development in our metro areas. Most dont link this to a decline in commerce but in actuality not using public transportation creates traffic problems, and also drives up road maintenance costs and pollution. The simple solution for all of this is educating the uninformed and older generations in Georgia about the advantages of Public transportation use and the mis conceptions of what happens when its use is expanded. Lets be blunt.. the only reason that people move into places where working class people once lived is because of one working class person moving out and the rest following. Dont be scared of change embrace it. ... more
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Mon Feb 2, 2009
Claudia Callaway answered:
Since it sounds like there is no real estate agent involved, I would recommend contacting a local attorney who specializes in real estate law. Two that I would recommend for the Covington area are Patricia Stout on the square or Susan Clark with the Clark Law Firm. Good luck! ... more
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Sat Sep 20, 2008
Vickie asked:
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