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90713 : Real Estate Advice

  • All10
  • Local Info1
  • Home Buying4
  • Home Selling3
  • Market Conditions1

Activity 9
Mon Mar 18, 2013
Roberto Gosim answered:
Hello missyjrrox,
If you're looking for lease with option to buy,
there's not much out there.
The two answers pretty cover it.
The reasons people like you look for
this kind of deal is either credit related,
recently house was foreclosed, short sale,
downpayment etc.

With prices going up, low inventory, sellers that do
rentals kind of shy away with lease options.
Usually sellers when they are ready just sell it
outright because there's a lot of bidding going on.

What I can suggest is if you're not ready,
just continue renting, talk to a lender so you get some advice
on how you can remedy your situation.

There's a lot of ads telling you about lease option deals.
As an active Realtor, my clients that did short sales are looking for this deals also.
I looked and sorry to tell you, I can't find any.
Maybe these people that advertise know something I don't.
Good Luck though.

Roberto
... more
0 votes 3 answers Share Flag
Thu Aug 25, 2011
Michael Abram answered:
Hello Ann,

There are a lot of factors that go into calculating your qualifying abilities as a buyer. I would speak to a loan officer so they can properly calculate all your qualifying ratios and give you the most accurate breakdown of your buying capabilities based on your desired scenario. If I can be of assistance, please feel free to give me a call or email.

Michael Abram
First Capital Mortgage
NMLS #235060
Direct: (310) 434-1718
Fax: (310) 451-6407
mabram@firstcapitalmtg.com
... more
0 votes 5 answers Share Flag
Thu Sep 16, 2010
rjfre answered:
You may have a title claim because of the inaccuracy. Contact your title insurer.
1 vote 1 answer Share Flag
Sun Sep 12, 2010
Lourdrie McNamee, MRP answered:
Mai,

As Shel-lee mentioned, your question is not linked to a property. If there is a particular property you are interested in, please email me at loubandb@ca.rr.com and it would be my pleasure to give you the details of that property. I grew up in Lakewood and have been a part of the Lakewood/Long Beach community for over 40 years.

Best of luck in your home search and hope to hear from you.

Lou McNamee
Coldwell Banker
562-879-9677
... more
0 votes 4 answers Share Flag
Sat Jan 2, 2010
Yvonne Kelly-Brazell answered:
Dear Melissa,

I sympathize with you entirely. You are in the "piggy-in-the-middle" here. A few key factors to keep in mind.

1. Banks have huge pressure on them to "work-it-out" with the owner if at all possible. They don't like negative pr. The owners will have to show the bank that they have a secure income source. They must prove they are able to make the payment, if the bank does modify this loan. You are not in the loop usually to know if they financially can do this....

2. With this being said, some banks will add up all the past payments and place them on the rear of the owners loan...so they will pay in the future. They will tack on past due taxes etc to that and then the sellers mortgage balance increases by these amounts.

Each situation is v. unique and without knowing all the circumstances or challenges or inside info.....it's impossible to know whether the bank will or will not grant this loan modification for the seller. If you did write your offer using a "short sale addendum" it does pass comment on many of the "challenge" facing you as a short sale buyer. It's an experience for you to attempt to buy one..and you will have gained a lot of knowledge in this process.

Hopefully you are not out of pocket too much and ultimately it may work out in your favor.

Keep educating yourself, and keep your fingers crossed!!!

Sincerely,

Yvonne Kelly-Brazell
Prudential California Realty
SuperIrishRealtor@gmail.com
(*Text or Call me: 562-201-1230)
... more
0 votes 3 answers Share Flag
Wed May 6, 2009
Debra (Debbie) Rose answered:
Donna - I guess you didn't notice, but this question was asked in 2009 - over 4 years ago !

I am pretty sure, and would hope, this person has already moved.

ps
I see you're new to trulia, so you may not realize the date the question was asked is just under the question - in a very lite gray font - easy to miss if you're not looking for it! ... more
0 votes 6 answers Share Flag
Wed Mar 18, 2009
John Mcglothlin answered:
I would check with a real estate attorney. As far as I know there was a period of time to cure the default of the loan. If you have gone beyond that point , you may have no recourse. If you have any questions feel free to contact me via email mcglothlinj@verizon.net, Good luck. ... more
0 votes 5 answers Share Flag
Sat Nov 22, 2008
Harrison K. Long answered:
Jenefer ... you asked about procedure if you want to buy our your siblings from a home inherited. You need a qualified California lawyer for this. If you are in the OC, we recommend that you contact Tom Peterson, estate planning lawyer, 714-662-7740.

Harrison K. Long, Realtor agent and Broker, Coldwell Banker Previews

For the best home and property search site, check out
... more
0 votes 5 answers Share Flag
Wed Oct 22, 2008
Barbara Robbins-Olexa answered:
The LA County Tax Assessor has a booklet entitled "Guide to Proposition 8" Decline in Value Reassessments which you can obtain by calling 1-888-807-2111 or visit lacountypropertytax.com website.
You can also obtain general information about property taxes including how to read your tax bill and where to find answers to your questions on this site.

For more information about other exemptions, exclusions and tax relief, you can call for general information, visit one of their offices to pick up brochures or speak with a trained professional. 24 hours a day you can:

Access Assessor's Website to research comparable sales, verify valuations, download forms, learn how appraisals are made. Visit assessor.lacounty.gov

Access Assessor's Email and send your questions comments or suggestions to helpdesk@assessor.lacounty.gov

There are other Propositions like 60 and 90 regarding Senior Citizen's Replacement Dwelling Benefit and Propositions 58 and 193 regarding reassessment exclusions for real property transfer between parent and child and grandparent to grandchild.

Fell free to contact me via email at bstrealtor@aol.com or by phone (714) 296-7270 if I can provide you with any further information.

Barbara Robbins-Olexa, Broker, E-Pro(R), SRES(R)
L B Brokerage
www.barbararobbinsolexa.com
... more
0 votes 3 answers Share Flag
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