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32707 : Real Estate Advice

  • All14
  • Local Info2
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 7
Mon Apr 18, 2016
Diane Christner answered:
I would suggest speaking to a FL real estate attorney (if the property would be located in Florida) before doing anything. Most of the people responding to questions here are real estate agents, and as agents we cannot offer you legal advice. Spending a few hundred dollars now for proper legal advice is definitely better than spending thousands to hire an attorney later on if you make a mistake in taking title that allows your husband to make a marital claim on your new property. ... more
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Thu Sep 26, 2013
Al Norman answered:
There are no assumable loans currently being written and if you do find and old one the interest rate will be a lot higher than the current market interest rate as well as you would still have to fully qualify for it. I would suggest you try to qualify on your own. If I can help in anyway please click on the link below in the web reference. ... more
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Thu Sep 26, 2013
Al Norman answered:
There is no issue with you having aluminum wiring in your home as FHA does not have a guideline stating that it is not allowed. I hope this helps.
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Mon Sep 23, 2013
Jim Simms answered:
The mortgage underwriting guidelines are there to protect you more than the lender. Anything you do to try and “work around” them substantially increases your risk. I say this because with long term rates as low as they are now there must be some reason you don’t arrange financing through a federally supervised intuition.

Forget the scam stuff, what happens if the seller dies, gets divorced, sued, goes belly up, has the existing loan called due because he signed a contract with you, etc.? Exactly, even if you don’t get scammed people get hit by busses. Fix your issue, then buy a home, good luck,

Oh, btw, lenders will not approve you taking over payments if you don't qualify so don't spend a lot of money thinking it is just between you and the seller, it isn't.

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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Mon Jan 16, 2012
Anna M Brocco answered:
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
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Mon Mar 9, 2009
Craig Williams asked:
What is the cutoff between conventional and jumbo mortgages in the Incline Village market? Are there any competitive mortgage products out there that allow less than 20% down, or are those…
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Sat Sep 13, 2008
Jim Soda answered:
You do need the advice of a divorce Atty. Division of assets will always be an argument or the courts will decide for you. Division of assets includes all Debt. You may not want the home due to the value unless the Lender works with you. Interest expense will be determined if you file a Joint tax reurn or as a single tax payer.
Jim Soda Group 941-809-7759
Soda BLOG at:
Prudential Palms Realty
Sarasota-Lakewood Ranch-Siesta Key-Longboat Key
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