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Home Buying in 46219 : Real Estate Advice

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  • Local Info1
  • Home Buying7
  • Home Selling1
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Activity 6
Kevin Richey, Real Estate Pro in St George, UT
Thu Apr 3, 2014
Kevin Richey answered:
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
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Alexandrea P…, Real Estate Pro in Indianapolis, IN
Fri Jul 20, 2012
Alexandrea Pendygraft answered:
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
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Mariano Simms, Real Estate Pro in Owings Mills, MD
Tue Feb 14, 2012
Mariano Simms answered:
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
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Heather Fitz…,  in Indianapolis, IN
Tue Feb 14, 2012
Heather Fitzgerald answered:
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....

Heather Fitzgerald-371-2622
... more
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Heather Fitz…,  in Indianapolis, IN
Tue Feb 14, 2012
Heather Fitzgerald answered:
Ruth,

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
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Nathan Pfahl…, Real Estate Pro in Indianapolis, IN
Wed Dec 1, 2010
Nathan Pfahler answered:
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
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