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92405 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying10
  • Home Selling0
  • Market Conditions0

Activity 12
Mon Apr 18, 2016
answered:
Who knows. Pull your credit and find out.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
... more
0 votes 2 answers Share Flag
Wed Jul 29, 2015
julia lane asked:
solid.we have a five yr old hiusing jusgement placed in us fir a cut in the linoleum and we were chargd for a bunch of stuff we didnt do.we have good jobs no records.during the time they…
0 votes 0 Answers Share Flag
Wed Jun 19, 2013
Chandra Watkins answered:
Having a Negative Home Inspection can be a Positive thing for a buyer. The home inspection is done to educate the buyer what they are purchasing. Whether it is good or bad the purpose is to educate your buyer. In an "as is" sale depending on what the report disclosed can sometimes be paid for by the seller (but only if the seller is willing). As a Realtor our duty is to help the buyer gather as much information as possible, but in the end it is up to the buyer if they want to proceed with the purchase. I hope that helps. ... more
0 votes 6 answers Share Flag
Wed Jun 19, 2013
Chandra Watkins answered:
Most buyers currently are in the position that they have to place multiple offers on homes with the hopes of getting one of their offers accepted. This is a very competitive market for homebuyers. ... more
0 votes 9 answers Share Flag
Sat Nov 24, 2012
Zoe asked:
My daughter and son-in-law (US citizens) could rent part of the property from us and we would use part to stay in when visiting.
0 votes 0 Answers Share Flag
Tue Feb 8, 2011
Jerry Current answered:
Has the property in question actually gone to sale yet? If not, then it probably means the bank is working with the homeowner to complete the short sale approval. The bank will continue working the foreclosure process, even while working on a short sale approval. They don't want to lose any time...just in case. What usually ends up happening is the sale date is postponed in 30 day increments until either the short sale is worked out, or time runs out and the bank decides to consummate the foreclosure. I'd get your agent to get on the listing agent to find out what is happening. Unfortunately, there are too many listing agents working short sales who do not give professional courtesy to the very agents trying to help sell their listing. But as the old saying goes - The squeaky wheel gets oiled. ... more
0 votes 4 answers Share Flag
Wed Dec 15, 2010
Chris Jensen answered:
Hi,
this is not "Legal Advice" However I do work for an attorney and Im a Legal Assistant/Realtor.

A couple of things to consider:

1: Have you tried to modify your loan? Your loan will not qualify for the HAMP program but may qualify for an "IN House" modification.
Depending on who your lender/investor is the may be happy to modify your home and reduce the interest rate and possibly the principal balance depending on the situation.

2: A short sale would be your next best bet if you do not qualify for a modification. There are all kinds of investors/ home buyers who would be happy to buy from you at the current market value, of course depending on the condition of the home.

3: A foreclosure or giving the home back to lender will be the worst scenario on your credit. Also, with the 2nd loan the lender may be able to go after you in a collection situation, forcing you into bankruptcy or paying the loan amount.

You may have alternatives. Doing a loan mod will be the least damaging to your credit.

I did a loan mod on a first and second as well as settled about 5 credit cards for a client. It is less than a year later and his credit score is 640... Way better than a foreclosure or bankruptcy..

Best of luck. Be proactice. the lenders do modify loans but for the most part what I have seen is homeowners submitting incomplete paper work. Or the financials are way out of reality.

JoAnna Jensen
Legal Assistant
Volo law Group Legal Realty
925 699 5041
... more
1 vote 9 answers Share Flag
Fri Nov 26, 2010
John Souerbry answered:
As soon as you use the "F word" (fraud), you need to be advised by an attorney, not agents or brokers. How-some-ever, the comments you received below are all accurate given the situation you describe and I think retraction of the F word is in order. Short sales work differently and the note holder (bank) can take whatever offer they want, they are not bound to take the highest $$$ amount if they like the terms of a lower offer better. Regarding your comment on the MLS, most MLS systems do have a requirement on when a property must be posted after the listing goes into effect (48 hours in my area). However, in California the seller can sign a listing agreement and still authorize the broker to keep the listing off the MLS for a period of time by attaching "Seller Instruction To Exclude Listing From The Multiple Listing Service Or Listing Information From The Internet" (CAR Form SEL). Happens all the time. As your agent has probably explained, you can't get your pants in a wad over short sales, they are slippery varmints. ... more
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Wed Sep 22, 2010
answered:
My guesstimate would be about $1,500. Title, escrow, tax, and recording fees.
http://www.firstamericantitle.com/

Happy funding, Rudi
0 votes 3 answers Share Flag
Thu May 20, 2010
Steven Ornellas answered:
Hi "NBAHA",

Like you, many Realtors and mortgage professionals are completely at a loss for words regarding how ineffectual and frustrating the whole loan mod program(s) has been. This situation has most people asking, “What’s causing the problem?”

If you have a strong stomach and a level temper, take a quick look at the following blog post I wrote back in Feb of this year:
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2010/02/why_the_us_loan_modification_program_is_ineffectual_no_really

Best, Steve
... more
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Fri Feb 12, 2010
Bob Movin-On answered:
Fri Jan 11, 2008
Todd Norsted answered:
That wouldn't be the best thing to do resale wise! Not being sexist, but women and children usually prefer tubs.
0 votes 1 answer Share Flag
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