Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

48843 : Real Estate Advice

  • All14
  • Local Info0
  • Home Buying6
  • Home Selling2
  • Market Conditions2

Activity 12
Sat Oct 29, 2016
Coachrudd2 asked:
Thu Aug 18, 2016
20009413 asked:
Has been in foreclosure for over a year, wondering who is handling auction in case I can register to bid. Add details about your question (optional)

This question was asked from this…
0 votes 0 Answers Share Flag
Thu May 15, 2014
Derek Tunison answered:
I am a mortgage specialist in Macomb, I have a lender that will lend down to a 500 credit score for a FHA loan. I am also local and would be happy to meet you in person. If you are interested in getting a pre-approval, I would be happy to take a quick application. Please feel free to call me at any time.

Thanks and good luck!

Derek Tunison
First Mortgage Corporation
Sr Loan Officer
41950 Hayes Rd
Clinton Township, MI 48038
(586) 306-8994 CELL
(586) 601-2798 FAX
NMLS 162605
... more
0 votes 4 answers Share Flag
Thu May 8, 2014
Johnathan Dunn answered:
When buying a home with a mortgage, there will be two Title Insurance policies put in place by the title company. One is the buyer's policy which is generally accepted to be a seller cost. The second is the lender's policy which is generally accepted to be a buyer cost.

The seller will pick the title company (who does several things in the process). The buyer may choose to have the seller's title company handle everything or to secure their own title company to handle the things that are important to them. (This is usually advisable when buying bank owned property.)

The title company insures the deed and will charge their fee for it at closing. Who pays it depends greatly on the contract or purchase agreement that is negotiated between buyer and seller. If the seller is paying concessions toward closing costs, the lender policy will be charged to the buyer, but the fee will come out of the funds the seller is providing as concession.
... more
0 votes 2 answers Share Flag
Sat Jun 29, 2013
Bob Witt answered:
If you have the time to wait, there is another house in that neighborhood that is in their redemption period (6 months after sheriff sale). If they are not able to redeem, it will be on the market shortly after that and I will be the listing agent. I would be heppy to put your name and contact on my file to call when it becomes available. I suspect it will be a similar price though it is still occupied and I have not been inside to check the condition.

Bob Witt
Prudential Heritage Real Estate
... more
0 votes 6 answers Share Flag
Sat Jun 1, 2013
Robert Campbell answered:
Keep shopping around for other lenders. Work hard to get your score, and if you have cash to put down that helps.
0 votes 13 answers Share Flag
Wed Dec 26, 2012
Debra (Debbie) Rose answered:
I actively answer questions here, and have been doing so for several has generated business for me, so............I find Trulia (and my efforts) to be very helpful!
0 votes 3 answers Share Flag
Fri Nov 30, 2012
Robert Smith answered:
Generally, fixer uppers won't qualify for any loans except a rehab/renovation loan. Homepath loans are good but you'd have to qualify for a conventional mortgage (higher credit score). There is an FHA 203K loan, but requirements may be tough to not possible for a rental proeprty. If you need a couple of experienced lenders to talk to about your specific situation, feel free to contact me. ... more
0 votes 1 answer Share Flag
Sat May 5, 2012
Eric Michael answered:
It's not the mortgage person, it's the investors. you don't have any history of making payments on time (because you never used credit), so they have nothing to go on to know if you'll make payments on time in the future. ... more
0 votes 7 answers Share Flag
Mon Apr 16, 2012
Sonya Loose answered:
Hi Joe, real estate is very in my area of Michigan (Gladwin and Clare County) real estate has been relatively stable for the last 2 years...we saw an overall slight decrease of approx 5% this last year. If you are trying to determine your homes value I would suggest getting in touch with a local real estate brokerage who is familiar with comparable sales. ... more
1 vote 12 answers Share Flag
Tue May 10, 2011
gabriel palotas answered:
Value is an estimate of a consensus of opinion from region to region. The sum is more likely to be the result of the calculation of the risk facing the average purchaser who is asking himself how much can they afford? When banks are avoiding to lend freely through out the country and the rules have changed for down payments,
when existing loans outweigh the values of homes by their estimations and appraisals which are creating a backlash on sellers with expectations but with failed results.
Offers are made in places for 50% of asking price while some properties are selling 20 % higher than asking price. There is no rhyme or reason in defining values. Each day that goes by sets different standards of lows and highs.The comps are not reliable for many that claimed to be sold fall apart and come back on the market at prices where just six months ago the lender refused. Working with international buyers with cash ready and willing both the realtor and buyer end up in frustration when a a property is found to their liking becomes a puzzle rather than a standard purchase.
Nice were the days when you saw a house you liked had the money to buy it with and closed on it in 30 days.
Now you play an offer like a lottery. let's make an offer and see if we can get it ? You are in luck if in most cases you get an answer to your offer. I stay away from short sales i go after free and clear properties where the owner has the ability to offer terms and hold the mortgage. Properties like these sell quickly and in most cases above the average price. Lot of investors buy with cash at a discount and flip it by holding a mortgage. It is becoming a strong market with excellent results.
... more
0 votes 2 answers Share Flag
Search Advice