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Home Buying in 86442 : Real Estate Advice

  • All35
  • Local Info6
  • Home Buying16
  • Home Selling6
  • Market Conditions0

Activity 15
Sat Mar 11, 2017
Snowwhite8989 answered:
If i use my anetiyfor a down payment for a new does it count as income
0 votes 6 answers Share Flag
Fri Apr 11, 2014
Lisa Markham answered:
Hi Judy,

There certainly are waiting periods for being able to purchase a home after a foreclosure; FannieMae and FreddieMac are typically 7 years but it can be as little as 3 years with extenuating circumstances and a 680 credit score. FHA is typically 3 years but can be in as little as 2 years with extenuating circumstances (Handbook 4155.1 4.A.2.g: Waiting Period for Borrowers With Past Delinquencies, Defaults or Claims on FHA Loans.)
And VA is only 2 years.

Extenuating circumstances are defined in this link...https://www.fanniemae.com/content/guide/sel120110.pdf

Please contact me if you have any more questions and I will be more than happy to look at some things for you.

Sincerely,

Lisa Markham
Envoy Mortgage, Ltd.
NMLS# 947738 / AZ# 0921717
520.240.9602
lmarkham@envoymortgage.com
https://lmarkham-envoy.mortgagewebcenter.com
... more
0 votes 5 answers Share Flag
Mon Aug 26, 2013
Linda Cavanaugh answered:
Hello Jimmy,

Others have said that you need to speak to a tax accountant about your particular situation. There are wonderful opportunities available for home ownership at this time. Please contact me when you are ready. I will be more than happy to show you what is available.
Linda Cavanaugh
US Southwest
928 444-3598
... more
0 votes 10 answers Share Flag
Wed Aug 7, 2013
Hal Timinsky answered:
Marisela,
I would have your Realtor contact the Title company to see why they have not released your earnest money. If your financing was FHA or VA your have a greater chance of getting your funds back. This should not have gone on for 8 months, ... more
0 votes 5 answers Share Flag
Mon Apr 15, 2013
Gene answered:
I am a retired transplant to the Bullhead City area and have lived here for 5 years. But I knew years ago that I would eventually move here so I bought my first property in BHC in 1985. I have never regretted my decision nor my move. My wife and I love it here.

Since I am not an agent nor a broker, I can be more candid about desirable locations in BHC. I am assuming you know what price range you are looking for, what mortgage you want, etc. so my suggestion to you is the Sunridge Estates area (which is north of the airport) or the area in Mohave near the golf courses. I would avoid the riverbend area even though there are some very nice homes here. I do not know if you have children but some areas are more kid friendly than others.

There are still some REO (foreclosure) homes available but they are disappearing fast. There are very very few in the desirable parts of BHC but I noticed a 3/2 home just listed in Sunridge Estates for $129,000. As I've said before, I am not an agent so I can be more forthright about individual listings than licensed agents. There are some areas that I would avoid even if they gave them away.

If you want unbiased opinions, let me know by email and I can give you my honest response. I can also tell you which agents to avoid as I have filed complaints against them with the AZ real estate regulatory authorities for deceptive practices. Unfortunately these agents still have their licenses and are practicing today because state laws are unformly weak. But there are also some very good agents as well (which is the majority of agents).

Anyway, please email if I can add additional input. And welcome to BHC...you'll love it here. If you come in early September you might not like the 120+ degree heat though. Good Luck. Gene
... more
0 votes 5 answers Share Flag
Tue Mar 5, 2013
Russ Ravary answered:
Who paid for the appraisal? If you did indymac had no right to give the appraisal without your permission
0 votes 10 answers Share Flag
Fri Nov 30, 2012
Candice Galvane answered:
The answer lies in the purchase agreement and what has transpired up to the time the funds were released. Your agent and escrow officer should be able to explain it to you using the terms of the purchase agreement. Good luck. ... more
0 votes 3 answers Share Flag
Fri Nov 30, 2012
Ron Thomas answered:
You will find that a Title Company requires 2 signatures to do anything.
0 votes 3 answers Share Flag
Tue May 4, 2010
Brad Bergamini answered:
Ed,
You should ask for a pony too.
So you have an accepted contract with the seller and you can't perform because your loan isn't finished, right?
If you gave up earnest money in the contract and failed to perform it is a you thing not a seller thing... make sure you can perform all the duties in the contract before signing.
This is not legal advise just an opinion..
... more
1 vote 6 answers Share Flag
Mon Apr 12, 2010
Roswell Moore, answered:
Hey Wendy,

Glad to see you actually signed your closing doc's. I truly hope you are paying cash for this purchase so you aren't concerned about a rate lock expiring.

I agree with Candice on many points, especially that it is in the banks best interest to approve your HUD to allow funding & recording...that said, you are waiting for what seems like an inordinate length of time to get a response from the seller...

Please let us know when you finally get your keys.

Good Luck,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
... more
2 votes 5 answers Share Flag
Sat Mar 27, 2010
Emelia Sanchez answered:
Wendy,

I have received extensions from IndyMac My Escrow Officer is a key component with all my short sale transactions as he needs to get the final HUD approved. (California) I do hope all goes well but you should be calling your realtor not your lender. Prospect Mortgage actually acquired IndyMac so you may have a slight advantage that they will be making even more money, You are very close I hope tomorrow you get great news. Good Luck!! ... more
1 vote 6 answers Share Flag
Sat Mar 27, 2010
Candice Galvane answered:
If you are using a standard contract for this area, you should have a financing contingency. If financing was denied and you did every thing you could to obtain your financing, you get your deposit back. Also, in our contracts there is a section that states the sellers responsibilities. One of those responsibilities is to maintain the home so it's condition at closing is at least as good as it was when you agreed to purchase it. Hopefully, your earnest money is being held in the title companies trust. They are the neutral third party and if you performed according to the conditions of your purchase agreement, your funds should be refunded to you. Just because the seller wants the deposit it doesn't mean they will get it. Good luck to you. ... more
0 votes 5 answers Share Flag
Fri Mar 12, 2010
Voices Member answered:
YELL AT THEM CONSTANTLY UNTIL THEY RIP UP THE BUYERS AGREEMENT!!!!!!!!
1 vote 9 answers Share Flag
Fri Mar 12, 2010
Melody Dally answered:
Your contract gives you all the terms and conditions, deadlines, for inspections, loan commitments, etc.

have you read your contract? also the escrow officer can and will tell you if you are entitled to the money back or not, even if you are entitled, they must get the sellers approval to release the funds.
SO CALL THE ESCROW AAGET, AND ASK QUESTIONS, SO YOU KNOW WHAT IS REALLY GOING ON.

HOPE YOU DIDNT JUST CHANGE YOUR MIND, IF SO SAY GOODBYE TO YOUR MONEY !!!

I ONCE HAD A BUYER CHANGE HIS MIND 1 DAY BEFORE ESCROW CLOSED, HE LOST HIS $25,000 DEPOSIT.
... more
0 votes 11 answers Share Flag
Wed Mar 10, 2010
Brad Bergamini answered:
Nope.. Escrow payment is a must.. with such a low down FHA wants to make sure the property is always insured and the taxes are paid.
0 votes 2 answers Share Flag
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