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60402 : Real Estate Advice

  • All29
  • Local Info4
  • Home Buying11
  • Home Selling1
  • Market Conditions1

Activity 22
Marilyn Bent…, Home Buyer in New York, NY
Sat Nov 19, 2016
Marilyn Benton answered:
Jimzwerman, Home Buyer in Berwyn, IL
Wed Dec 9, 2015
Jimzwerman answered:
How can ,you a void , closing cost ?
0 votes 8 answers Share Flag
Jose Villase…, Real Estate Pro in BERWYN, IL
Wed Feb 25, 2015
Jose Villasenor answered:
The Berwyn market is currently up and now is a great time to sell!!!
0 votes 5 answers Share Flag
Ben Rivera, Real Estate Pro in Naperville, IL
Mon Feb 23, 2015
Ben Rivera answered:
Was this a closing by Hubzu? Some companies charge fees like this. Similar to when agents subtract a portion of their commission. You can counter offer the fee or contract the client to pay the difference. Good luck ... more
0 votes 4 answers Share Flag
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Fri Oct 10, 2014
Debra (Debbie) Rose answered:
Sorry, but I can't answer that David, as I don't pay to be a "Pro" or for paid leads or zip codes....anyone who wants to reach out to me (after following me here) can, and does - directly.

The business I have gotten has been a result of my activity here, on the Q&A section.

Unfortunately, the lack of a notification system has negatively impacted the response, as many consumers never go back to see who, or5 if anyone, has responded, and we don't know when others have added something to the forum.
... more
0 votes 6 answers Share Flag
Hilda Rosas, Real Estate Pro in Chicago, IL
Sat Jul 19, 2014
Hilda Rosas answered:
Hilda Rosas/Real Estate Managing Broker

Want to buy a property now? you can take advantage of the Welcome Home Illinois program, and receive up to $7,500 for down payment and closing cost. Also, There are other programs that can help financially first time home buyers. You need to qualify!!!. Feel free to call me for more information.

Hilda Rosas/Real Estate Managing Broker
773-485-5480
... more
0 votes 3 answers Share Flag
Hilda Rosas, Real Estate Pro in Chicago, IL
Sat Jul 19, 2014
Hilda Rosas answered:
Hilda Rosas/Real Estate Managing Broker

yes, it is possible to buy a house with an ITIN number in Illinois. There is an excellent conventional loan for ITIN numbers. Call me for more information and details.

Hilda Rosas/Real Estate Managing Broker
773-485-5480
... more
0 votes 6 answers Share Flag
Tammy Hayes, Real Estate Pro in Port Charlotte, FL
Sun Feb 23, 2014
Tammy Hayes answered:
For crime statistics you want to check with the local police or sherrifs department in the county or city of interest. For schools, go to the school district web site and read about the schools. ... more
0 votes 2 answers Share Flag
Alexander Ro…, Real Estate Pro in Chicago, IL
Fri Sep 20, 2013
Alexander Romo answered:
Absolutely not. This has nothing to do with it. The type of programs you're being qualified for does.
FHA requires 3.5% down and can be gifted from family.
There are others that require only 1,000 or 1% of the sales price.

For and financing questions, feel free to contact me.

Alexander Romo
Senior Vice President Mortgage Lending
The Federal Savings Bank

312-738-8430

Free pre approval, click below
Www.AlexanderRomo.com
... more
0 votes 2 answers Share Flag
Alexander Ro…, Real Estate Pro in Chicago, IL
Fri Sep 20, 2013
Alexander Romo answered:
A contract is executed when earnest money is collected.

For any financing questions, feel free to contact me.

Alexander Romo
Senior Vice President Mortgage Lending
The Federal Savings Bank

312-738-8340
For a free pre approval, click below

Www.AlexanderRomo.com
... more
1 vote 3 answers Share Flag
Bubbles, Home Buyer in Berwyn, IL
Thu Aug 2, 2012
Bubbles asked:
if bank denies modification wont extending the years on your mortgage to 40 yrs then 30 help? or how low can a bank lower the interest rate on your mortgage?i wonder do banks really want…
0 votes 0 Answers Share Flag
Jim Simms, Real Estate Pro in Louisville, KY
Mon Jul 2, 2012
Jim Simms answered:
Two years and counting, but I don’t see that you have ever actually listed your home for sale,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time ... more
0 votes 3 answers Share Flag
George Raymo…, Real Estate Pro in Fort Worth, TX
Mon Mar 19, 2012
George Raymondo answered:
You can apply for an FHA down to 560, but it won't be easy. The better your score the better your chances. Please click on the link below for further information.

Best of Luck!
0 votes 1 answer Share Flag
John Potter,  in Cook County, IL
Mon Feb 20, 2012
John Potter answered:
The owner decides short sale yet the bank must approve and may not. A bank forecloses and they decide to sue the owner for non payment of mortgage. The owner decided not to pay mortgage. ... more
0 votes 1 answer Share Flag
Dino, Home Buyer in Berwyn, IL
Sun Feb 12, 2012
Dino answered:
hey rocky, i have had the same issues with realtors. everyone says it is a tough economy yet the reattors seem to have given up. i have had numerous emails with realtors about buying property and they take days, if not weeks, to return a message. they all seem to have the mindset that people are having a hard time getting the financing and they may be wasting their time showing them properties for sale. some of us buyers just want to be able to make an offer but can not get anyone to return a email. lets be honest, it is not that busy out there that an agent can not return your contact within 24 hours. any longer than that and i know they will not hustle for me when the time comes. do a little research and you will see tons of agents out there are leaving the industry. maybe the ones left behind will learn a lesson. the client is paying you thousands of dollars, return the call!! ... more
0 votes 10 answers Share Flag
Emily Erekuff, Home Owner in Menifee, CA
Fri Aug 5, 2011
Emily Erekuff answered:
Hi Marco,

If you can send your phone number you are using to us via the link below, we can investigate the matter.

Thank you,

Emily Erekuff
Community Moderator
0 votes 1 answer Share Flag
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Sun Mar 6, 2011
Suzanne Hamilton answered:
I agree. You may need to speak with an attorney about this, but it depends on how your lease reads. But one question, I have never done a lease that the broker does not ask what your business is. Did you tell the broker or lessor? Only the written really makes a difference, but if you told them what you did and they had knoweldge of that, an attorney may be able to use that for leverage to get you out of the lease. Also, negotitation with the lessor may be possible. Read your lease and talk to the lessor. Maybe you can work it out. If not, consult an attorney. ... more
0 votes 3 answers Share Flag
Grace Morioka, Real Estate Pro in San Jose, CA
Wed Mar 10, 2010
Grace Morioka answered:
Hello Pudgy and thanks for your post.

Forgive me, but I'm going to be a "cold hearted" real estate professional. I am an SRES or Senior Real Estate Specialist and the very last thing I want to see is any senior or individual of retirement age making decisions for which they are forced.

First, I would caution against ever becoming emotionally involved with a buyer. Certainly, as agents, we like to present our buyers as "people" with "families" and "hopes and dreams", but, at the end of the day, this is a business transaction that, hopefully, benefits all equally. While I'm certain your buyers are charming people, don't get too caught up in their "back story" when trying to determine how best to handle your personal finances.

Second, why are people with great credit scores and an annual combined income of $110,000 or maybe separately with an income of $110,000 each and a combined income of $220,000 utilizing an FHA loan? FHA loans are generally for individuals who do not have enough money for a down payment and who do not make enough money and/or who have poor credit scores. Yet at $110K (combined), these buyers gross $9200 per month and probably have a take home of $5300 per month after taxes. At 3.5% for a downpayment, they're only putting down $6500?? Unless they are incredibly poor at financial planning, this $6500 probably represents only 3 months of savings. Or , maybe, they're very good at financial planning and have chosen NOT to spend their savings by using an FHA loan to buy a home.

Now, the home has appraised at $45,000 less than the sales price, which may a fault of the colder weather season in Illinois that prevents a lot of sales activity. The truth is that there is very little that you, as the seller, can do to assist the buyers especially since, as you have already mentioned, you cannot afford to lower the price to $140,000 and I suspect that this would not be such a huge issue had the buyers used a conventional loan and agreed to the standard 20 percent down payment.

While the buyers consider their options (get a new lender, pay more money to buy the home or walk away), you and your agent should be working to determine the current price of your home based on comparables in the area. If the price is too low, it may be time to rent the home or take it off the market for a couple of months to allow the listing to "renew" rather than to be "stale."

Either way, I would resist the urge to accommodate any buyer while also putting your own financial security at jeopardy.

Good luck!

Sincerely,
Grace Morioka, SRES
Area Pro Realty
... more
0 votes 6 answers Share Flag
Sergio Canch…, Other/Just Looking in 60402
Sat Oct 31, 2009
Sergio Canchola answered:
deaths in 1244 s. grove berwyn illinois
0 votes 1 answer Share Flag
Sergio Canch…, Other/Just Looking in 60402
Sat Oct 31, 2009
Sergio Canchola asked:
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