Well...since this question is now 2.5 years old...you are now eligible for conventional financing upto $625k in certain lending areas.
If you are looking for Jumbo loan over $625k, your wait timeis 7 years.... more
You should contact a couple of local builders in that area. Shop around. Remember the lowest cost per square footage is not always the best. You will want a local, reputable builder to work with. Contact a local real estate professional for a referral.... more
Lender will look at your over all scenario not just your credit score alone. In you case, It is better if you sit with a mortgage broker and go over your options. I am sure with the new guidelines you will have many shots.... more
Did you have your appraisal contingencies in place? If you removed those then your could be responsible for the different in value. But you didn't negotiating is the way to begin, so your realtor is doing the right job.... more
It's not my listing. But I happened to be logged in to the MLS just now. I see that it is currently listed as pending show for backup offers only. It was a short sale and it was only on the MLS for 10 days. It looks to me that the listing agent priced it way too low. It is very unlikely the short sale will get approved at that price. There is a great chance that property will get foreclosed and come back on the market. At what price is anybody's guess. Would you like me to monitor it and alert you if that happens?... more
Tax liens, collections, late payments ... been there done that hated it. The first thing is there is hope. But it requires huge discipline and a willingness to swallow what pride you have left and move forward with a specific plan that will take some time to complete ... but know that you can get out the other side smelling like a rose.
1) Call the IRS and ask for a Tax Compromise appointment
2) Sit down with someone who is good with numbers and willing to help ... have all your bills, collections, everything on the table along with all your income.
3) Be prepared for both of you and everyone 16 or older in your family to go get a job or a second job.
4) There are ways to pay those bills off in full in way less time than you thought and get your credit repaired and then go buy a house. It probably won't happen in 12 months but it could happen in 24 to 36 months.
The key will be how much you want to actually make it work.
I have been there... it is not fun but it is unbelievably rewarding to have it work and be looking back.