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77459 : Real Estate Advice

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  • Local Info1
  • Home Buying8
  • Home Selling0
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Activity 12
Tue Apr 4, 2017
Jacquelyn Velasquez asked:
My current lease is up in the middle of July. We have seen several rentals pop up in the area we would like to rent in, but we know it is probably still too early to make a serious inquiry.…
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Mon Jun 20, 2016
Valerie asked:
Thu Mar 24, 2016
Salve Tecson asked:
The home was not included in the bankruptcy payment.
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Sun Aug 2, 2015
Quinntonia Berry answered:
Sarah,

Have you found a Realtor? I would be happy to speak with you about the listing process and how it works.
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Wed Feb 25, 2015
sarah.hossain asked:
If I close a house (new construction) on Jan 31st 2014, do I need to pay for the property tax in Dec 2014? Or it should be based on Land tax only.
How much exemption I can get from property…
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Mon Jun 2, 2014
Dorothea Brice answered:
Mon May 19, 2014
Shayla Mullee answered:
The most recent crime report for this area can be found on the Missouri City Police Department's website. The link is below and can found on the page by selecting "Annual Report."

http://www.missouricitytx.gov/?nid=111 ... more
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Sat May 18, 2013
Dorothea Brice answered:
The most recent crime report for this area can be found on the Missouri City Police Department's website. The link is below and can found on the page by selecting "Annual Report."

http://www.missouricitytx.gov/?nid=111

Let me know what else I can do for you.
... more
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Sat Jan 26, 2013
Kevin Read - Houston answered:
Go to either our website below or the HAR website and you can find almost everything you wish to know about the schools in those zipcodes including the state rankings, test scores, graduation rates, etc. ... more
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Mon Oct 17, 2011
Bruce Lynn answered:
You can see my diatribe on tax values here:

http://activerain.com/blogsview/1703533/tax-appraisal-values-in-texas-are-bogus

Buying below tax value is no indication of a deal....nor is buying above tax value means you are getting a raw deal. Either way the retail purchase price could be too high or too low. You need a realtor to help you look at the market. Tax values are only an indicator of what tax you might pay over the next year. I would almost never use tax values as an indicator as to what purchase or sales price should or should not be. ... more
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Fri Jan 21, 2011
Irma Klenk ABR, I.R.E.S SFR. answered:
Yes , I agree with everyone, new buyers and renters are watching HGTV.......pricing , comparing , and aware of what's new all those smaller details are not overlooked.
0 votes 5 answers Share Flag
Tue Jul 7, 2009
T.E. & Naima Sumner answered:
Probably on your last 1040 you converted your primary residence into a rental and placed it in service.
You should not have a problem getting a loan on a new primary residence. The only issue will be whether you can qualify for the payments.
In the past lenders used the rental income discounted to 75% to account for vacancy and maintenance and then offset the mortgage payment, taxes and insurance with that discounted income. It might leave a shortfall, which basically becomes additional debt in your debt-income ratio.
So, the new house and mortgage may be doable and result in a housing-income ratio under 30%, but after accounting for the rental your debt-income ration may be too high. Ask your loan officer.

Do you need to transfer title of the property? It is probably ill-advised unless there is some other tax or liability reason you want to do so, but for loan qualifications, no. Can you transfer the loan? Certainly not. The loan is made to you personally, with the property mortgaged (promised as collateral). Transferring the loan means you would no longer be liable -- ain't gonna happen. Transferring title means you no longer own the collateral -- not allowed. So, just forget LLCs and tranferring (unless there is another reason not mentioned).

In order to avoid PMI your loan-value ratio has to be less than 80%. Lenders can waive escrowing taxes and insurance but only when the loan-value is 90% or less and they charge you for that privilege.

It is rare these days to see piggyback loans.
... more
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