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Armada : Real Estate Advice

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Activity 3
Fri Apr 28, 2017
Kathy Burgreen answered:
I'm a former realtor. I would not call getting a Section 8 voucher "I finally hit the big time." Sorry but a Section 8 voucher means living in the dumps, trailer parks, housing projects, crappy rental buildings, etc.

You need to learn that landlords, property managers & owners can accept Section 8 vouchers BUT they can LEGALLY discriminate against renters who cannot pay full market rents.
Example: let's say there is a 4 bedroom house for rent in northern Macomb County renting for $4,000. However, your voucher is for $3,000. The owner will require you to pay the difference of $1,000. every month to make up the difference between $4,000. minus your voucher $2,000. = $1,000. short. No landlord, property manager or owner will take a loss for $1,000. and allow you to rent the house for $3,000. instead of $4,000. Heck no! Landlords will reject you and wait until they get a tenant who can pay the full $4,000. with no voucher. Yes it's discrimination but it's legal because it has to do with finances - not race, gender, family status, religion, etc.

So your best method is to consider Port Huron and find a regular rental that is the same amount as your voucher. You will need to consider an apartment instead of a house because it's cheaper. If you don't like it, too bad. You're stuck until your income is high enough to pay the higher rents or buy something.

Although agents can help you find rentals, the issue is they refuse to work with people on vouchers because even though Section 8 does pay realtors, it's not enough money to make it worth their time. Agents can easily make more money buying and selling homes, so they don't need to work with vouchers.

Good Luck
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Tue Feb 28, 2017
Derek.tunison answered:
Dawn,

It could look bad to some sellers, but I write many loans in Macomb County structured this way. Also if you are able to run the loan conventional I would, it definitely is an overall better loan than FHA.

If you have questions or need help please let me know. I am local to your area.

Derek Tunison
Nowland Mortgage
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Tue Sep 29, 2009
Carol McAlister answered:
I am a divorce real estate specialist in my area and can tell you, you will need to do a short sale. If you want i will see if there are any RCS-D in your area. Real Estate Collaberative Specialist - divorce. They can help you with all the aspects of selling thru divorce ... more
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