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60031 : Real Estate Advice

  • All16
  • Local Info2
  • Home Buying8
  • Home Selling0
  • Market Conditions0

Activity 13
Mon Aug 14, 2017
Alysse Musgrave answered:
I have yet to see a house that was cheap enough or special enough to justify the risk and aggravation involved with buying a foreclosure or short sale. There are plenty of dumpy homes that you can buy directly from the seller, not the bank. I suggest you buy one of those instead.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
(214) 734-3863
Alysse@HelpUBuyAmerica.com
http://HelpUBuyAmerica.com


Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
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Tue Jul 5, 2016
Maricris A answered:
Hello,

Thank you for contacting us. Unfortunately, we didn't get enough information about your problem to resolve the issue. Please provide us with complete property address by replying to this email 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/


Regards,

Maricris
Consumer Care Advocate
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Fri May 13, 2016
Joya asked:
We made an offer on a house. Offer was accepted and everyone signed. I did the inspection and submitted our requests for repairs. The seller flew off the handle (we were not asking for anything…
0 votes 0 Answers Share Flag
Mon Mar 9, 2015
The Graveline Group answered:
Understand that ANYONE can post a rental. Trulia is only displaying 3rd party info, and there are ways for scammers to post fake listings on other websites which then get mirrored on trulia, zillow, realtor, etx.. When a deal seems too good to be true, it is.. ALWAYS verify EVERYTHING you see online with a local Realtor. Realtors adhere to a strict code of ethics which offers you consumer protection and piece of mind. Flag the listings and email fraud@trulia.com Browse the agent directory to find a well reviewed local Realtor. ... more
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Wed Nov 19, 2014
Gary Geer answered:
You should sit down with your agent and discuss your situation. The agent can help provide guidance to assist you in making the best decision.

All the best.
0 votes 5 answers Share Flag
Wed Aug 27, 2014
Larry Bernstein answered:
If you are still in the market to purchase, I can offer options with credit scores down to 580 w/ 3.5% down. If you are putting 10% down, I can offer options down to 550 scores. Call me if you would like to discuss. Thank you.
Larry Bernstein, American Financial Network, (847) 815 - 8229
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0 votes 14 answers Share Flag
Wed Sep 25, 2013
answered:
Payment on a $60,000 loan at today's 15 year rate of approximately 3.5% (this will depend on several factors like credit and down payment) is $428.92. At a rate of 3.625% it is $432.62. At 3.75% it is 436.33. On a small loan the rate is not going to change the payment that much. This does not factor in taxes and insurance. It also does not factor in PMI. If you are putting down less than 20% you will have monthly PMI. This also depends on credit and the amount you are putting down. Some lenders offer Upfront PMI. Rather than pay PMI monthly you pay a lump sum at closing to have the monthly fee waived. If you plan on being in the house more than about 3 years it will work out to your advantage. ... more
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Sun Aug 18, 2013
John Walin answered:
Hi
How long will you be stationed at Great Lakes? I don't think it makes sense to buy if you are stationed here less than 3 years. New construction Volo is pretty far west, and builders nowadays do not build spec houses so you have a 6 month building time, short term rentals are rare and charge a premium. Do your own research on school districts, if that is a factor. My vote is Gurnee resale and with VA loans the best deal going if you have a VA certificate of eligibility in hand.
My son ETS last year from active duty Army, I work a lot with service personnel, call, text or email me if you want to discuss options.
Thumbs up me and best answer if you like my response.
Thanks!!

John Walin
Trulia PRO VIP
Coldwell Banker
847 276-0120 mobile/text
john.walin@cbexchange.com
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0 votes 5 answers Share Flag
Thu Jun 6, 2013
John Walin answered:
Deborah is right!
the first stage for a bank is to record a notice of default with the county. Plus illinois has a long redemption period for the owner to become current with mortgage. ... more
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Sun Mar 31, 2013
John Walin answered:
short answer is no.................great over answered answer Don!
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Sun Mar 17, 2013
John Walin answered:
i had a presentation at an office sales meeting one month ago where we were pitched on this investor group that buys REO foreclosures, improves the property and streamlines the rent to own scenario. They only buy in well regarded school districts and have 5 year contract in which at any time you can do the buy out option at a predetermined price. i beleive it had a 5% escalation every year so there is incentive to buy it at your earliest convenience, but you can treat it as a straight rental or exercise the option. I can check to see what they have going on in Gurnee. Plus if they know they have an interested party, they will act as the buyer on the house you like and rent it back to you.

Before the presentation never heard of such a thing and would have agreed with other agents, that rent to own on a case by case basis is hard, seller has no incentive and seller not sohisticated as to figure out what to price it at for a future 1-5 years hence. They are doing this in Las Vegas and CA, expanding to IL and most havent heard of them, but seems legit.
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Sat Feb 12, 2011
John Walin answered:
WOW this is an old post, rephrase the question if still needed...
0 votes 7 answers Share Flag
Mon Jan 31, 2011
John Walin answered:
Credit score is but one factor used in underwriting approval. it is the first hurdle, but also taken into consideration is job history/stability, salary or variable contract work. Also look at total debt to income ratio and liquid assets. I have seen people with decent credit scores denied loans because of too much overall debt or job instability. Owning your own business can be tough too because they look at net income not gross income before expenses. Rule of thumb is 18 months in the same job. Plus they want to get 2 years of most recent taxes.

If you like my answer, select best answer and give me a thumbs up, thanks! Of course call me if you would like me to put you in contact with a lender that can pre-qualify you over the phone.

Best of luck!
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