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85339 : Real Estate Advice

  • All21
  • Local Info4
  • Home Buying10
  • Home Selling1
  • Market Conditions0

Activity 16
Fri May 5, 2017
Latosha Harris asked:
Will to pay 3 months of rent in advance. Hoping to connect with a landlord that's willing to work with us.
0 votes 0 Answers Share Flag
Sun Oct 23, 2016
Azmobile asked:
Sat Apr 23, 2016
Colleen Porter asked:
we are doing an MLS assisted self-sell so we are responsible for adding picture
0 votes 0 Answers Share Flag
Mon Jun 30, 2014
Alain Picard answered:
If you click on the link below it will take you to my blog, building credit starting from scratch. Good Luck. ... more
0 votes 2 answers Share Flag
Mon May 19, 2014
Matt Petticrew answered:
Average days on market for the month of April 2014 was 73 days with an average sale price of $179,900. Compare that to April 2013 with an average days on market of 45 days with an average sale price of $163,300. Prices have increased but we are seeing properties staying on the market longer due to weak demand from buyers. ... more
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Wed Nov 6, 2013
The Stephen FitzMaurice Team answered:
Portland, OR Home owner below - Chase will play games with you as long as they can. They are not too big to fail, they are too big to care. You're right, they feel safe from legal consequences too. If you want out of your situation, consider talking with a short sale expert (like myself). Loan modifications are a joke in this industry. Short sales can get you out from under their thumb (and sometimes with more money in your pocket too). ... more
0 votes 9 answers Share Flag
Sat Mar 30, 2013
James Daniel Jr answered:
Yes, funds would need to be received before you can "close" on the house. Your agent that you're working with should be making sure this happens.
0 votes 4 answers Share Flag
Tue Nov 27, 2012
Robin Silverberg answered:
They can charge you a credit check fee up-front, however it must be a reasonable amount, which $450 certainly is not. What they may have charged you for is the cost of the appraisal, which they often do up-front.
Are you sure they locked in your rate? If so, for how long? If you have not gotten the disclosures that John has described below, they are in violation if they collected the money from you, so you have a few questions that need answering here. Have you provided them with the necessary information to process your mortgage application? Have you spoken to the loan officer to ask where the disclosures are? You should definitely get more information from them about costs, although the GFE can have some inflated numbers on it, the important thing is the rate, and the costs that are listed in section A, as well as the cost of the appraisal and any other minor bank fees that are often not listed in A, such as tax service, flood certificate, and credit report. We include those in our box A, but many lenders don't. What is now called the origination charge is what used to be application, underwriting, commitment, doc prep, all sorts of bank fees that used to be itemized differently.
... more
0 votes 2 answers Share Flag
Sat Nov 24, 2012
Roswell Moore, answered:
Wow, annadgu, sorry to hear of your situation. Sounds like you have a couple issues here...

First, it is illegal, based on the Fair Housing Act, to require a buyer to use the seller's lender to finance the purchase of the home. They can however, require the buyer to pre-qualify' with that lender. Check out Jay Thompson's blog on this very subject:


Second, did you have your own real estate agent representing you? What did they say about the sellers canceling?

If you want legal questions answered, you really need to get the paperwork to a real estate attorney to review.

Good luck,

Please feel free to contact me directly if you have any further questions, I'd be glad to help.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
... more
0 votes 6 answers Share Flag
Wed Aug 22, 2012
Annette Lawrence answered:
The Big Banks are in the denial of loan business. Their vaults are full and really don't want or need to lend a dime to you. They are bellied up to the tax payer 'back door' revenue stream and can't be bothered with lending.
I have been an outspoken critic of too big to fail banks (just wait until you meet the soon to arrive 'too big to fail healthcare insurance companies) and a real advocate of local lenders.
Local lenders are those who support the area economy through small business loans and local mortgages. Many of these lenders have their own underwriters. Find an "A" or "B" graded local lender by entering your city name or zip code.

Be sure to tell them 'Annette' sent you.

Real friends won't allow their friends to do business with Chase, Citi, Wells Fargo or Bank of America.

Wishing you success in your home purchase,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727. 420. 4041

PS: Don't overlook local credit unions. They are the all-time winner of low cost loan origination fee.
... more
0 votes 5 answers Share Flag
Wed May 25, 2011
Patrick Brennan answered:
You may also be able to connect with an investor or other homeowner in the area. I'd be glad to try and help you to some extent, but as Jeff already stated, market rents in the area are generally above $900. Please let me know if I can provide any further assistance.

Patrick Brennan
@Home Properties and Management
... more
0 votes 3 answers Share Flag
Wed Dec 22, 2010
Maureen Thelen answered:
If the income-earning spouse can qualify for the loan based only on his or her income, they might want to look into buying the property as their sole and separate property, in which case the other spouse will probably have to sign a disclaimer deed stating that the non-earning spouse has no interest in the property. Before you do that, you and your spouse should ask an Arizona attorney what implications or unintended consequences that action might have for you or your spouse in the future. ... more
0 votes 2 answers Share Flag
Thu Sep 10, 2009
Liz Steele answered:
Do you work for Chase Bank?
Have you ever submitted apps to them before?
License is spelled like licens might be that they had trouble understanding what you sent them.

Liz Steele
Financial Specialist/RESPC
... more
0 votes 4 answers Share Flag
Thu Aug 27, 2009
Abe Mills answered:
I feel listing it as assumable will get some quick attention, but I would also drop the bottom out of it, and try to sell it conventionally as well. Get with a good REALTOR as soon as possible, you might only have one shot at this.

Good Luck!
... more
1 vote 2 answers Share Flag
Sun Dec 28, 2008
Linda Slocum, CRS, CDPE | Santa Clarita Realtor answered:
The time it takes for underwriting to be completed depends on how your lender operates. Some will have an in-house underwriting department, and others will use a central processing center. If your lender has in-house underwriting, it will typically be faster than those who send their files out to a processing center. Other factors that may slow down the underwriting process could be the completeness of your loan application and whether there are any unusual items in your credit history that could require additional explanation. Your lender should be able to give you an idea as to how long this process typically takes for your type of loan. ... more
0 votes 2 answers Share Flag
Thu Feb 14, 2008
Joe Bourland answered:
Agreeing with Keith, Dave and Jonathan below contact all of us and set up interviews. With the delicate situation that you are in, having a representative that knows your area, the market and the steps of a short sale is critical. ... more
1 vote 5 answers Share Flag
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