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21206 : Real Estate Advice

  • All19
  • Local Info0
  • Home Buying11
  • Home Selling2
  • Market Conditions0

Activity 16
Thu Sep 7, 2017
Mark Smith answered:
Great idea.
I think consulting with a local real estate agent is a great decision for you because local agent knows everything about the renting property like price, location, and neighborhood.
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Fri Apr 14, 2017
Harold asked:
Thu Feb 23, 2017
Angelinagrandel asked:
While creating my listing, I wanted to go back and change something before publishing it. I think the site froze, so I closed the window. When I go back in to view my rentals, the only option…
0 votes 0 Answers Share Flag
Tue Jan 24, 2017
Malcolm Lawson answered:
So you are looking for an investment property with two units you can rent? Are you looking in Baltimore or another area?
0 votes 1 answer Share Flag
Mon Jan 23, 2017
Randjcreations asked:
Sun Aug 28, 2016
Marlene Paisley answered:
No. Most lenders I know have told me that both spouses have to credit qualify if their income is being used for a loan. Even if you had a "non-occupant co-borrower" their credit would be screened. I'm happy to provide a vendor list for your use to double check. Let me know if I can be if further assistance in your home search.

All Smiles,
Marlene Paisley, Broker JEMS Realty LLC
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Mon Nov 2, 2015
Darrell D. Drouillard answered:
VA loans involve a Certificate of Eligibility (COE) and are reserved exclusively for the veteran. Though there are some underlying situations for extension to spouses and such, I would say that probably in the majority of situations where a non-spouse family member is seeking benefits from VA, when they are using the status of another and they never earned VA benefits themselves, they would not be eligible. ... more
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Wed Jul 1, 2015
Ruth Chapman answered:
Thu Apr 23, 2015
USMortgageRanger answered:
Hi Melissa,

Thanks for the post. When you said your daughter has no credit are you referring to blank slate. If so you can start by adding her to your existing credit card as an authorized user and this will within 30 days activate the credit and transfer usage to her. Does she have an income? If there is no income then all you will need to do is include her to the Deed of Trust making her a joint owner and she can later on refinance into her name, however this will not be reflected on the credit report. I would be happy to speak to you and go over all your options in person.

Lowell Sterling
Mortgage Banker
NMLS 968898
Capital One Bank
(469) 315-1709
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0 votes 2 answers Share Flag
Fri Apr 11, 2014
RonS answered:
I'm assuming you have different meanings for "Purchase" and "Obtain". To purchase your grandparent's property, go see a real estate agent and a lender. to obtain your grandparent's propery, take anything on this forum with a grain of salt and do your own due dilligence.

I say this because you risk default on the loan if its not done right. Your grandparents cannot just deed the property to you. I mean, they can but, I would bet that there are provisions in the terms of the note and deed of trust prohibiting transfer of the property without the express, written authorization from the lender. I foreclose everyday on borrowers in very similar situations. They deeded the property to their siblings or kids and once I found out about it (usually through new insurance removing my borrowers) I started foreclosure.

You could get a power of attorney authorizing you to transact financial affairs on behalf of your grandparents.

This is a very tricky subject with things such as elder abuse, financial abuse and malfeasance and a whole slew of other nasty things. I would tread lightly and only after engaging qualified legal counsel.
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Fri Jan 18, 2013
William Culler answered:
It all depends on what you are looking for. There are two homes currently available on this street. Please contact me and I will be more than happy to assist.

I have attached those two listings for your review.

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Thu Dec 6, 2012
Shannon French answered:
Hi vwolf2007,

Whenever we need a real estate attorney, we use three resources, depending on exactly what the circumstance is:

1. We call a local title attorney for general real estate issues (there are many great title attorneys in Maryland - Stonegate Title, Clear Title, etc.);
2. We use LegalShield which is a very low monthly cost to have attorneys available 24/7 for any legal issue whatsoever. They can handle any type of legal issue and this is usually our first stop for advice. You can learn more at;
3. If it's involving short sales/foreclosures, then we use

We find the most valuable ongoing resource to be LegalShield, and they are the 3rd largest law firm in Maryland. Having the low monthly cost of legal advice (about $17/month), they have saved us Thousands of Dollars in legal fees over the years.
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Thu Jan 12, 2012
Richard Bourdeaux answered:
I know this is a bit late, but one big consideration that wasn't mentioned by anyone is that the new mortgage payment will have an impact on you every time you apply for any other credit. As long as your monthly debt (what would show up on a credit report, which is all that is considered for qualification), including your mortgage payment(s) is less than 35% of your gross income (approximately), you should still be able to get new credit cards, auto loans, etc. I can figure out the numbers for you and tell you the best way to structure the purchase.

As others said, you can do it as a non-occupant coborrower with an FHA loan. If the home is far enough away from your primary residence, you may be able to buy it as a second home, using conventional financing, which would have a lower monthly payment than FHA. Call me if you need me. 443-283-2922.
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0 votes 15 answers Share Flag
Sun Jan 1, 2012
Mariano Simms answered:
Basically most home buying services are in business for profit, knowing that you would of to expect to sell for less than the current market value, This is a good idea if you need a quick sale, The key to selling it yourself is to stage it and have it price right. ... more
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Mon Apr 12, 2010
Denis Nash answered:

I strongly suggest before you put the property on the market that you consult an accoutant to clarify any possible tax consequences of the sale. I work for a CPA seasonally and he handles a lot of estates. There may be some tax consequences and ways to avoid them. I serioulsy think talking to someone about those possibilites would be your best move first.
If you have any questions or need to be referred to someone that can assist you please feel free to call me at 410-303-7264.
Best of luck to you.
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