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91016 : Real Estate Advice

  • All13
  • Local Info2
  • Home Buying4
  • Home Selling2
  • Market Conditions0

Activity 9
Fri Apr 8, 2016
I am sure it can be, I think they have to argue that it is in the best interest of the estate and get a court order.
I think they could just do it, the problem is there could be a family member who could bring a legal action so it is best to do it right.
But yes it is a question for a lawyer. If you need a good one give me a call, I have worked with a couple of probate lawyers over the years that are very good.

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0 votes 2 answers Share Flag
Sun Mar 27, 2016
Rich Reed answered:
Why would a Realtor give you information to help you sell FSBO? Because no matter whether you DIY or hire a Realtor, the work that needs to be done is the same. Just like DIY for home repair or plumbing, if you have the desire, knowledge and skill to do it properly, why wouldn't you? If you don't do a good job you waste time and money and end up calling a professional anyway. According to NAR: FSBOs accounted for 8% of home sales in 2014. The typical FSBO home sold for $210,000 compared to $249,000 for agent-assisted home sales. Most difficult tasks for FSBO sellers: Understanding and performing paperwork: 12%. Getting the right price: 6%. Preparing/fixing up home for sale: 6%. Selling within the planned length of time: 18%. Having enough time to devote to all aspects of the sale: 6%. If you're still interested in FSBO you can post it on Zillow ... more
1 vote 3 answers Share Flag
Wed Mar 23, 2016
Rich Reed answered:
I see your house is 4 bedrooms and 3 bathrooms, PUD, built in 1998. I have a buyer looking for a house in Monrovia. I could put you in touch.
0 votes 1 answer Share Flag
Mon Dec 10, 2012
Hi Erik,

If you refi your current home, you'll have to do it as an investment property which is fine with an FHA streamline.

The bigger question is whether or not you qualify for one of the few FHA exceptions that will allow a person to have more than one FHA insured mortgage at a time. See below.

HUD-4155.1 REV-5, paragraph 1-2

Principal Residences

Question 50: If my principal residence is currently covered by an FHA-insured mortgage, can I purchase another principal residence with an FHA-insured mortgage?

Answer: Only under the following situations described below:

a) Relocation – Relocating to another area not within a reasonable commuting distance from the current principal residence. There is no need to reduce the principal balance. Reference to HUD Handbook 4155.1, 4.B.2.d and Mortgagee Letter 2008-25.

b) Increase in Family Size AND the outstanding mortgage balance on the present property is paid down to 75 percent or less LTV exclusive of any financed MIP.

1 – A current residential appraisal must be used to determine LTV compliance.
2 – The borrower must provide satisfactory evidence of the increase in dependents and how the property no longer meet the family needs. See Handbook 4155.1, 4.B.2.d.

c) Vacating a jointly owned property; Please Note: Situation cited in HUD Handbook 4155.1, 4.B.2.d. is only meant to be one example of an acceptable situation.

d) Non-occupying co-borrower; On a case-by-case basis, a relative could be a non-occupying co-borrower on more than one FHA-insured property. For example, Mom and Dad are non-occupying co-borrowers on both son and daughter’s FHA-insured mortgages. Reference Handbook 4155.1, 4.B.2.d.

Please feel free to contact me for more information or help. You can also find info on my FHA Mortgage website by clicking the link below.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust
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0 votes 1 answer Share Flag
Sat Dec 8, 2012
W.b. answered:
WOW ! I posted this question in 2008 ! Thanks but I purchased a home 2 years ago.
0 votes 3 answers Share Flag
Tue Feb 21, 2012
Bebe Le answered:
Hi Hoa,
The previous answer is correct. The Notice of Trustee Sale has been cancelled, based on my information.
0 votes 2 answers Share Flag
Wed Oct 13, 2010
Julie Cline answered:
Monrovia Coffee Company on Myrtle Ave. in Olde Towne
0 votes 4 answers Share Flag
Mon May 24, 2010
Monique and Joe Carrabba answered:
Hello Tina,

Just let me know which property you are referring to and I'd be happy to help.


Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
(323) 899-2900
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0 votes 3 answers Share Flag
Mon Dec 28, 2009
Jacen Crehan answered:
I would say around 5%. Not too shabby considering.
0 votes 1 answer Share Flag
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