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33578 : Real Estate Advice

  • All15
  • Local Info0
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 14
Wed Aug 2, 2017
Kathy Burgreen answered:
Your agent is lying and I'm a retired realtor. The truth is you can have 1 name or multiple names on a mortgage application. Lenders need to verify employment, income, savings, investments, outstanding debts, debt to income ratio, credit history and credit score and tax returns.

After reviewing the above criteria, lenders will use this to qualify a buyer to purchase a home. Therefore, if 1 person's name is on the mortgage application and that person qualifies alone to buy the home, then no other names are needed on the mortgage application.
However, if that 1 person doesn't have sufficient income, has low credit scores, no tax returns, no savings, then yes, another name is needed to qualify to buy a home.

Finally, there is the price point of the home you want. If both of you are looking for a higher priced home and both of your incomes are needed to qualify, then both of you need to be on the mortgage application. If you are looking for a cheaper home, then only 1 person's name needs to be on the application.
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Sat Apr 15, 2017
Drax2799 asked:
The entire upstairs (except for the oddball bedroom) is carpet, as is more than half the downstairs.The carpet must be replaced as it is ~20 years old. Wondering if uniformity is more important…
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Mon Feb 27, 2017
Jonathan Klurfeld, Esq. answered:
You will need to have an attorney review your contract as it depends what the mortgage contingency clause of the contact says exactly.
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Wed Dec 7, 2016
answered:
Hi Jocelyn
Jonathan is right- the purchase contract and any addendums regarding realtor commission should be clearly spelled out. Are you sure the commission is to the realtor and not the lender? Lender compensation would make more sense. The other common thing you may see is a broker compliance fee, which is usually a couple hundred dollars and not a 3% or 6% sales commission as is typical on a real estate transaction. Hope this helps. If not, then ask your loan officer to explain everything.

Tony
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Thu Sep 1, 2016
Sally Grenier answered:
You cannot rent a foreclosure. The bank wants to SELL it, not rent it. Try contacting a local property management company. Good luck to you!
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Wed Jul 27, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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Mon Apr 11, 2016
Alma Kee answered:
Hi Yvette,

Have you contacted a Credit Union? GTE Financial Credit Union may be able to help. They don't have the strict credit score guidelines that the typical bank or lender may have.

All the best,
Alma Kee
Future Home Realty
Heroes Team
We give 25% of our commission back to our Heroes (Teachers, Firefighters, Police Officers, Health Employees, Military & Veterans.)
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Mon May 4, 2015
Randy Stoker answered:
Trulia does not support For Sale By Owner listings. All listings on Trulia are generated by the listing Real estate agent; Trulia scans the MLS data base and posts that information to their web site. If you have your home listed through a licensed Realtor then your listing should appear on Trulia within 72 hours after going live in the MLS system ... more
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Sat Mar 28, 2015
Randy Stoker answered:
Trulia does not support For Sale By Owner listings. All listings on Trulia are generated by the listing Real estate agent; Trulia scans the MLS data base and posts that information to their web site. If you have your home listed through a licensed Realtor then your listing should appear on Trulia within 72 hours after going live in the MLS system ... more
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Wed Jan 21, 2015
Carina Chilczuk answered:
It won't lower it if its done within a 14 days period. But you should ask your ex-lender the reason why they denied you the loan. They will tell you!

Before you apply again, try and solve those issues. It might take you some months, but it is worth it. A Realtor can help you and give you good advise. If you are not working with one, contact me... I'll be glad to help you! ... more
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Fri Dec 5, 2014
Simon Campbell answered:
Conventional financing is available for modular or pre-made homes that are on a permanent foundation and built to HUD standards. Mobile homes (you know the ones on wheels) or even though with wheels removed that are secured to a cement pad are harder to get loans for since they have a higher rate of depreciation and are titled like a vehicle. Look to get a personal loan rather than a mortgage to finance these. ... more
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