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95133 : Real Estate Advice

  • All28
  • Local Info2
  • Home Buying18
  • Home Selling2
  • Market Conditions0

Activity 25
Fri Sep 29, 2017
Susie Kay answered:
I would suggest that you consult your CPA.
0 votes 1 answer Share Flag
Sun Sep 17, 2017
Robert Spinosa answered:
The tricky part here is your wife's training permit, as you have probably determined. We would take a closer look at this depending on the employment situation and other documentation so if you're still in the market please get in touch.

Generally we can finance up to 90% for a non-permanent resident alien and the terms are equivalent to a citizen's or green card holder's where all other guidelines are met. We can do an 80-10-10 for these scenarios up to a purchase price of nearly $1.9MM and I'm happy to help you determine if you'd qualify for your purchase above.
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Thu Aug 11, 2016
Bethk1320 answered:
How does this work if rent is collected by a property manager?
0 votes 30 answers Share Flag
Mon Aug 1, 2016
Cheryl Barcelona Singh answered:
I take it that the home foreclosed and someone else purchased it. If you have the company name, they may be able to pay you cash for keys to move out, or the new owner of the property may allow you to rent the home from them.
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Mon Jul 18, 2016
MadisonHouseBuyers answered:
Three Big Misconceptions When Selling FSBO
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Thu Jun 18, 2015
Huey Nguyen answered:
Hi Debbiequ1327:

Generally speaking from my own experience with my clients: Yes, they have had to pay their full rent. You still have a contractual obligation to pay rent, even though your landlord/association is reneging on HIS contractual obligations to SOMEONE ELSE.

If you would like to know your rights, please contact a real estate attorney specializing in tenants' rights. There are also several local non-profit Bay Area groups that have attorneys on hand to give you information about your rights and about your situation.

Best wishes,

Huey Nguyen
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Sun Mar 29, 2015
johncworrell answered:
CORRECTION: just noticed your in Washington. ( wasn't wearing glasses, it's early ) However, check your State Laws on Google and see if your State Legislature passed something like California has. ... more
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Fri Nov 14, 2014
Samysayad answered:
Why not refinance and get rid of the mortgage insurance? Depending on what rate you have now and what your mortgage balance is of course. Even if the rates today are higher than what you have, you may still come out with a lower payment by dropping the MI all together. Otherwise you will wait 3-6 months and request another appraisal. If the cost of the appraisal is $500 every time, you may spend another $1000 before the appraised value ( every appraiser has a different approach ) gets you to 75%. I would imagine the number of sales/comparables will decrease with the holidays nearby.

You will have to figure out the difference in payments between the existing lower rate and the new higher rate... if you are talking about $40 a month increase, it may be worth saving the cost of the appraisal and the 3-6 months of MI payment. It could take 3-5 years to recover that expense by staying with the lower rate. If the payment difference is $150 a month, then it may be worth waiting and ordering additional appraisals. Its all simple math, you can determine what your cost will be by keeping the lower rate vs. taking a slightly higher rate.

Rates are still holding strong, there are all sorts of low cost / no cost options ( keep in mind nothing is free, no cost just means they build it into your rate rather than a closing cost )

Its easy to find out if this is right for you, just a numbers thing. Gets some rate/ cost estimate then do the math.

Hope this helps and good luck.
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0 votes 4 answers Share Flag
Sun Aug 17, 2014
Cindy Davis answered:
Wow. If you can afford to do so, I would consult with an attorney. There are also tenant's rights groups. This is too much of a red flag...I probably wouldn't move in either...

Best of luck. ... more
0 votes 1 answer Share Flag
Tue Dec 31, 2013
Simon Campbell answered:
If you have an active lease agreement, then you should have the right to stay in the property regardless of whether it is in foreclosure or not. A lease agreement transfers with title to a home. In other words, if the bank takes title to the home (which this is not a quick process), as long as you have an active lease agreement, you can remain in the property. ... more
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Fri Sep 27, 2013
Susan Crusters answered:
Did you find out what you were supposed to do? I'm in the same situation in hamtramck mi. Please let me know if possible. Thanks, kim
0 votes 5 answers Share Flag
Tue Jul 2, 2013
Nick Sakalis answered:
Whenever someone is normally under a lease, he or she is responsible for the rent. That being said, this a unique circumstance and you should speak to an Attorney.
0 votes 13 answers Share Flag
Mon Apr 29, 2013
Curly Sue answered:
Yes, you should pay your much does your current landlord have in deposit from you? I wouldn't count on getting any of your deposit back.

I would set up an account & start paying rent to that account. Notify the landlord that you are setting the rent aside, but are not giving it to him/her because the home is in foreclosure. ...that's just me. I'm not a lawyer... ... more
0 votes 9 answers Share Flag
Mon Apr 29, 2013
Terri Vellios answered:
This is in addition to your other question about being foreclosed.

Your lease states your rights. Follow the links provided to you regarding your rights in a foreclosure situation.

All the best to you.
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1 vote 6 answers Share Flag
Tue Mar 12, 2013
nickbonfante79 answered:
Thanks for all the responces they are very helpful, but i hope the laws are the same in new york state cause that where i live. Some how i messed up andsaid i live in CA.
1 vote 6 answers Share Flag
Fri Oct 19, 2012
Bill Eckler answered:
This is both a common and good question. Until the owner of records is no longer legally the owner, it would be recommended to keep up with your rental obligations. To not do so could leave you open to problems that could otherwise have been avoided.

Seeking legal advice on this issue is recommended....

Good luck,

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0 votes 4 answers Share Flag
Wed Aug 8, 2012
Lamson Dang Broker/Listing answered:
Yes, you can Anoo; however, it might be easier to find a very old home (100+ years), then put $20,000 to $40,000 to fix it up and resell it to make some profits. I have worked with many investors who are currently finding those houses.

Best regards,

Lamson Dang
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0 votes 7 answers Share Flag
Wed Aug 8, 2012
Robert Lei answered:
Hi Ganesh,
Title and Escrow fees are dependent on which title and escrow company you use, not the lender.

If you are the one paying the title escrow fees, then you should be the one who can choose which title and escrow company to use. However, shopping around might not be worth your time because all the major title and escrow companies charge approximately the same fees. It makes more sense to choose the title and escrow company based on their expertise and/or convenience for you.

County transfer tax is fixed for Santa Clara County at $1.10 per $1000.

Some cities also charge city transfer tax. You happen to be buying in one of those cities that charge this. San Jose charges $3.30 per thousand.

Traditionally, in Santa Clara County the seller pays 100% of the County transfer tax and the seller and buyer split 50/50 the City transfer tax. However, as others have stated, since you are buying new from the buiilder, they will ask you to pay those.
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Tue Aug 7, 2012
John Juarez answered:
I think that you should sit down with a real estate attorney, share whatever paperwork you have with the attorney and get advice that you should have gotten before you lent money to a friend’s girlfriend. ... more
0 votes 12 answers Share Flag
Sun Aug 5, 2012
Michael Cheng answered:
Warmington has a good track-record of home building in California. I've seen their workmanship and it's on par with similar new townhouse developments in the area (Pepper Lane and Fusion).

The area is not particularly good, but with the VTA access and plenty of new homes revitalizing the area, your investment returns will be good. With today's price, you'll likely get double-digit returns over the next year, or 50-100% returns on your equity if you put 10-20% down.
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