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Home Buying in 30127 : Real Estate Advice

  • All45
  • Local Info3
  • Home Buying25
  • Home Selling4
  • Market Conditions0

Activity 21
Mon Jul 17, 2017
Princessaliya98 asked:
My husband left me the business, I was helping him but was not getting paid. I am selling my current home and looking to downsize. Thank you!
0 votes 0 Answers Share Flag
Sun Oct 4, 2015
Levar Wilson answered:
Chris and Rodney, I see a major difference in your answers. One of you states that Conventional appraisals are good for 90-days and the other for 120-day. Which is correct?
0 votes 3 answers Share Flag
Mon Mar 30, 2015
Ron Krauch answered:
Good evening, David,

The VERY best way to accomplish this is to work with a broker who works in the area you desire. They can set up alerts broken down by dozens of criteria including subdivision and street. In some systems, perhaps street number also.

No website outside of the multiple listing service will give you more accurate or timely information. As it stands now, Trulia can be a day or two behind the MLS.

Another strategy, if you're ready to go now would be to contact the owners directly and see if they are ready to sell. A broker can do this for you to keep your interest private.

Good Luck!

Ron Krauch
Managing Broker
Emerald Estates Realty, Inc.
Palos Heights, IL 60463
... more
0 votes 1 answer Share Flag
Wed Oct 16, 2013
answered:
Hi CJ,
FHA mortgages are the least restrictive for a previous bankruptcy. HUD requires that a minimum of 24 months must have elapsed from the DISCHARGE date of a Chapter 7 Bankruptcy before a borrower can be eligible for an FHA mortgage.

For a Chapter 13 Bankruptcy, then you must have made at least 12 on time payments. Additionally, you must also have permission to purchase from the Bankruptcy Court.

In the time since the Bankruptcy, there should be no new derogatory items such as late payments, collection accounts, liens, judgments, etc. Having late payments after a Bankruptcy is often viewed as a disregard for the importance of credit. It also reflects that you are still having financial struggles.

If a mortgage was included in the Bankruptcy, HUD requires that you must wait at least 36 months from the foreclosure date to be eligible for an FHA mortgage. Sometimes, the foreclosure happens well after the Discharge Date of the Bankruptcy. If the mortgage was not re-affirmed, there is not much that can be done until the property get foreclosed on.

Also, if the original mortgage was a government backed loan (i.e. FHA, VA, USDA), you must wait at least 36 months from the date that HUD paid the claim on the defaulted mortgage. This can sometimes be months after the original Foreclosure Date Until the 36 months on the claim has passed, you will not have a clean CAVIRS report which is required for an FHA mortgage.

Anything less than 24 months on a Chapter 7 would require an exception. To qualify, you must have experienced an "economic event," which is any occurrence beyond your control that resulted in a loss of employment, loss of income or a combination of both. The event must have caused a reduction in household income by 20% or greater that lasted at least six months or longer.

You must have recovered from the "economic event" with the re-establishment of satisfactory credit for a minimum of 12 months. You must also attend housing counseling from an approved HUD Housing Counseling Agency for a minimum of 30 days, but no more than six months, prior to submitting your loan application.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. Once you are ready to get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.

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

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
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Tue Jun 18, 2013
Marcus Necessary answered:
You're looking at the wrong websites :) dont pay a penny for that garbage.
0 votes 16 answers Share Flag
Mon May 20, 2013
Jim Olive answered:
To me, that's an insurance policy for a bad Realtor. If you do your job well, shouldn't need it. Of course, that said, there will be customers that come along that aren't really serious, and a retainer will likely keep them away, so I see the advantage, just don't think it outweighs the disadvantages... ... more
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Tue May 14, 2013
Tonya Jones answered:
Laughing cause u said. We eat a lot of corn around here ! Ha ha ha
0 votes 5 answers Share Flag
Tue May 14, 2013
Don Tepper answered:
Problem is: Those plans are terrible. They give a sense of security (I'd argue a false sense of security) to the buyer. The contractors themselves tend not to be very good and they live in terror of the plans--knowing that unless the plan clearly and exactly approves a repair beforehand, they won't get paid. ... more
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Tue May 14, 2013
Michael Cheng answered:
0 votes 1 answer Share Flag
Tue May 14, 2013
Tonya Jones answered:
Since the rates are so low, I have been considering purchasing a nicer home in a swim, tennis neighborhood. I can get a home twice as nice as what I have at almost the same monthly payment. If I could just only sell the one I have or rent it. Still thinking........ ... more
0 votes 3 answers Share Flag
Tue May 14, 2013
Tonya Jones answered:
I feel the economy has not made a full recovery yet and it may take another 5 years before it does. In my personal opinion I think we have a min. of 5 years to enjoy these low interest rates. ... more
0 votes 4 answers Share Flag
Mon May 13, 2013
Blanca Dover answered:
I am sure that different agents will have different opinions but I would assume that you are asking when is the best time to purchase a home and get the best price? You need to realize that many home owners wait to move in the Summer months; it is convenient for most families since you won't need to transfer the kids in the middle of the school year. With the low housing inventory and buyers looking to move in the upcoming months I would suggest you wait until the Fall and Winter months as there will not be as much competition. Then you may want to ponder the fact that the house prices are rising so what will the housing prices and interest rates look like at that time...Happy house hunting!

Blanca Dover, REALTOR

Century21 Hometown Realty
Cell: 805-427-5646

Website: www.blancadover.com
... more
1 vote 3 answers Share Flag
Mon Mar 5, 2012
Priscilla Hammond answered:
Some homes are priced low to get several buyers as competition. When there is a multiple offer scenario the home will almost always sell higher than the listed price.
0 votes 16 answers Share Flag
Wed Sep 15, 2010
Anna M Brocco answered:
0 votes 1 answer Share Flag
Tue Mar 30, 2010
Maxine H. Allen answered:
I basement is added value...if you never use, it is still great for storage, and can be finished for additional living area. But.....don't go by what they are asking.....look at the sales in the last 6 months....you can ask anything...it's what you get that counts. I have an agent that works that area if you need help. She does rentals also. ... more
0 votes 6 answers Share Flag
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