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Home Buying in 91911 : Real Estate Advice

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  • Local Info10
  • Home Buying14
  • Home Selling1
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Activity 13
Mon Nov 23, 2015
Arpad Racz answered:
Hi,

Starting with obtaining a loan approval would be a good move.

All the best,

Arpad
0 votes 19 answers Share Flag
Thu Sep 24, 2015
John Arendsen answered:
0 votes 2 answers Share Flag
Thu Sep 24, 2015
Jim Simms answered:
Is it within commuting distance? Will your income continue for at least 3 years after you move into the home? I would require a written VOE instead of a verbal so your employer is responsible for the answer to that last question.

You can’t use an FHA unless you are moving in right away, hence the questions about distance, income, etc. On a conventional loan you could ask for what is called a mortgage for a second home. They will still ask about the likelihood of income.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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0 votes 9 answers Share Flag
Mon Nov 24, 2014
John Arendsen answered:
Interesting. Didn't know about the non owner occupied part. So a borrower has a better chance of getting a liars loan on a rental?
0 votes 2 answers Share Flag
Thu Feb 13, 2014
Hugo & Andreana Sanchez answered:
Hola Sofia,
How are you doing ? siempre si conseguiste lo que buscabas? si no aqui estoy para ayudarte.
Saludos
Gracias
Hugo
0 votes 8 answers Share Flag
Thu Feb 13, 2014
Hugo & Andreana Sanchez answered:
HI Naomi,
I was looking on line and this question pop up. How are you doing in? did you ever bought your property yet? Or are you ready for it now. I know the post is from a few years back but it is always interesting to know how the story ended. In case you need help please feel free to ask us.
Thanks
Hugo
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0 votes 12 answers Share Flag
Thu Feb 13, 2014
Hugo & Andreana Sanchez answered:
Hi Fabbianna,
You need to figure out with the prenup what were the stipulations, did he said if any of the children were going to be the person in charge? or are they all going to own the house at one time. Once this is established then you can move forward. Establishing ownership it's important because that way if they want to stay with the house they can contact the Bank and try for a Modification or they can use a lender of their preference and refi.
You may need a lawyer to work you through the process of establishing ownership. Make sure you have copies of the Death certificate because it will be needed to do the loan Mod and or Refi. Also there is another choice, they can short sale the home and it can be done in case they have to go to probate. Good luck.
If you have any questions please feel free to let us know.

Hugo
619-869-0588
teamsanchez.kw@gmail.com
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0 votes 11 answers Share Flag
Thu Dec 8, 2011
Deborah Garvin answered:
VA is probably the most "forgiving and understanding" of all loan products available. Much of the underwriting is more "make sense" and not subject to the rigid underwriting guidelines of conforming or conventional loans. I agree with Robert that many times a lender will require six to 12 months of employment; however, there may be some wiggle room is your new job is a direct result of your college education (in the same field). Usually, underwriting guides will credit education time as employment time IF a degree or certification in the same field is complete.

Some of the best successes with funding loans comes from thorough analysis at the beginning. Talk with a mortgage professional to evaluate exactly where you stand in your quest for financing. Be sure to clarify with the consultant whether you can get a complete underwriting approval or if they will only do a automated underwriting of your file. The latter is really not sufficient to ensure the lender will really fund on your loan and opens you up to the possibility of a preapproval that turns into a declination when the file is reviewed by the underwritier. Best of luck to you!
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0 votes 9 answers Share Flag
Wed Apr 27, 2011
Rose Magana answered:
It all depends, each situation is different. It will depend on the type of sale meaning traditional sale, bank owned or short sale. Call me for details.

Rose Magana
Realtor
619-977-6569 ... more
0 votes 4 answers Share Flag
Wed Apr 27, 2011
Rose Magana answered:
Yes, It is possible to continue if the Seller meaning the Bank allows an extension to close Escrow. Sincerely Rose Magana Realtor 619-977-6569
0 votes 4 answers Share Flag
Wed Oct 20, 2010
Royal Real Estate Group answered:
Utility bills, credit card statements, bank statements, evidencing mailing address same as property address.
0 votes 6 answers Share Flag
Thu Oct 14, 2010
Vincent Villafranca,REALTOR answered:
I agree with David, if its priced correct you will get nothing especially if there are multiple offers. But have your agent call up the listing agent to see if there are offers. If no offers ask for something. ... more
0 votes 7 answers Share Flag
Sun Oct 10, 2010
Royal Real Estate Group answered:
To purchase a home in foreclosure, you will have to pay the entire bid amount in cash at trustee's sale/foreclosure sale.

Bid amount is not just the defaulted amount upon the trust deed. its the entire outstanding secured or mortgage amount that defaulted owed to foreclosing party.

There could be other liabilities which you may have to pay in addition to auction bid. For example, if you bought the property at the junior lien holder, purchase could be subject to all existing senior lien holder.

Secondly, there could be unpaid outstanding property tax lien against the property, if the property taxes have not been paid in the past few years.
... more
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