When the real estate bubble popped many people were hurt. This created credit problems for a lot of people. As a result there are lenders that are willing to assist people as they work to repair their credit. There are also lenders that have programs that may help you get a loan even with a low credit score. The best place to look for help would be lenders in your area. You might also need to expand your search to find some lenders on line that could help.... more
Probably you're still asking far more than comps in that neighborhood are going for. Even if it's the Spelling Manor, if the rest of the neighborhood is so-so at best, nobody wants it for the money you're asking. Perhaps you've over-remodeled for that price point neighborhood.
My friend didn't do her homework - she signed a purchase agreement $10k over the appraised value, just because the inside was nice and it had new appliances.... more
Kimberly is Right! Attorney Attorney Attorney! If the attorney will work with you on a contingency then you may not have to pay them up front. No promises though, but you should ask the Attorney their rates unless money is of no consequence! A purchase agreement is a legally binding contract, call a real estate attorney. Good Luck... more
This would depend on several factors, type, size and condition of the pool and concrete surroundings. A qualified contractor is a must!! You don't want to end up with a swamp where the pool resided. Remember the pool held water. Access to the area is also a concern. In general most fill dirt and top soil is sold by the cubic yard (L x W x H / 27) You can get a rough estimate on material by calculating total volume (area needed to be filled) and checking for fill and top soil prices. The labor portion is the variable and depending on the contractor the price differences can be wide. USE A QUALIFIED CONTRACTOR check references, previous jobs performed.... more
If your name is also on the mortgage(loan), then you will not be able to get a second FHA loan, FHA only allow one mortgage per individual.
If you are planning on getting a divorce, you may want to get legal advice before making any large purchase.... more
Before venturing into the 2nd home, you might check with some lenders about refi-ing your first fha loan with that equity. There is a 15 year no monthly MI program available for FHA loans where you have that kind of equity.
Or look into refi-ing that to a conventional loan if you have approx. 20%-22% equity....
You will have to have your husband you are separated from refi into his own name only, or qualify debt to income ratio wise with both mortgages and be financially prepared to be able to pay both mortgages if your husband were to default.... more
Yes. Anna is correct- you can only have 1 FHA mortgage at a time, however if you sell property 1, you can purchase property 2 with an FHA mortgage- ie you can have multiple FHA mortgages throughout your life. Are you looking to keep the house that you have the first FHA mortgage on as an investment property? This is allowable, assuming you didn't use Indiana Housing for the initial loan as they often have stipulations about not using the property as a rental. There are also low-downpayment conventional loans available AND some lenders are allowing a "buy-out" of the PMI- meaning a lump sum can be payed by the SELLER (or buyer, depending on how negotiations go) at the time of loan closing so you would "save" a decent amount of money each month without having 20% equity in the property. For more information on that program, please contact Matt Davis at MetLife Home Loans- 317-595-2288, or call me and I can get Matt in contact with you!... more