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Home Buying in Beloit : Real Estate Advice

  • All32
  • Local Info4
  • Home Buying12
  • Home Selling0
  • Market Conditions2

Activity 14
Mon May 18, 2015
Karen Peyton answered:
Three ways out of ownership are to: short sale the house, ask the bank to accept a Deed In Lieu of Foreclosure, or allow the house to be foreclosed.

Generally speaking, mortgage payments which are less than 30 days late are not reported "late" on your credit report although you will pay a late fee. A payment is 30 days late when two payments become due (e.g. payment due in January - not made until February which then means payment for February is also due.)

Depending upon how late your tenants are paying rent, you might want to consider some very strongly worded letters to them or even consider eviction according to the laws of your state. This "may" cause them to accept their responsibility in a timely manner and prevent you distress.

Another alternative to the "late" payment cycle is to get one month ahead. Despite this sounding ridiculous given your situation, you might want to take an interest free cash advance from one of your credit cards. Doing so may breathe "life" into your financial dilemna and prevent further destruction of your credit.

Of course you should first consult an attorney in all matters BEFORE making a decision.

Good luck!
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Fri Feb 27, 2015
Rich Moen answered:
I would love to help but no address came through. This happens all the time. What is the property address?
0 votes 1 answer Share Flag
Fri Dec 12, 2014
David N Stephanie Meligan asked:
Me and my wife are looking to buy a house. We have credit that is not that great. We are in sub-prime mortgage territory or a land contract situation. We were dealing with a guy from union…
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Mon Sep 29, 2014
Otis Johnson answered:
Beloit, Clinton or Newark are all great options for an easy Rockford commute. You should be able to reach most Rockford destinations in 30 minutes or so from any of those.
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Sat Apr 12, 2014
ohynavufequdejy answered:
It just depends which areas of Wisconsin or bluff your looking at, there are some very nice areas of these streets and some very bad areas of these streets, there are some large lovely old houses and many are being revitalized, those are old main artery type streets...another area to look at would definatly be Riverside drive that is an old upscale area which has always been very nice, scenic with lovely homes as well as respectable nice residents. there are many areas of Beloit which are very nice and the city has been going thru a complete transformation into a beautiful swan, the hood rats have been gradually leaving towards Janesville and back to Illinois and Beloit has dedicated billionaires which have been pumping much money into town turning the city into one of the most attractive spots in the area. On another positive note Beloit has the Rock river which is more like a large lake much better for boating than areas to the north or south, plus many companies are locating to Beloit from other areas...check it out its worth the investment ... more
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Sat Apr 5, 2014
Monicafinortney answered:
Don't overlook the rural communities around janesville and Beloit, Wisconsin...such as Afton, Wisconsin. Check out property at 3733 w Plymouth church road
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Tue Aug 6, 2013
Matthew Heitmann Team answered:
I would agree with Pamela. This spring was truly a sellers market with all the buyers that suddenly hit the market. Now things have started to taper off a bit as we head into fall, but I'd say the market is still slightly tilted towards the seller's side due to the lower inventory.

Best of Luck!
Michael Collins- CDPE, SFR, BPOR
Broker - Rock Realty

My Trulia Blog:
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Thu Nov 29, 2012
daniellelofye answered:
my house is in a great neighborhood and is in preforclosure in orfordville. We left it in august after remodeling the whole exterior and having a run of bad health 206 olson dr...look it up its not the same as the photo online as it is a blue house shown and this one is now brown. So sad to know its empty. Best wishes. ... more
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Wed Jul 18, 2012
Erin Roberts answered:
I am Erin Roberts from Allen Realty, Inc. I was recently introduced to Wynn Henderson from Southwest WI Community Action, Inc. A non-profit organization that might be able to help you find the property you are looking for. His office number is 608-935-2326 ext 217. I know they are actively helping people in Green County but Rock is one of the counties they might be able to work in also. Good luck in your search! ... more
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Thu Mar 11, 2010
Beth Bausman answered:
Hi Lauren,

I'm located in Beloit and would be happy to help you find a home to rent with option to buy or a land contract. The market is picking up and we have a few more listing that would suit your needs (rent or land contract).

Lots of things to discuss and I'd been happy to answer any questions you might have about the process. You can contact me at 608-921-4687.

Beth Bausman, SRES
Coldwell Banker Premier Bort's
2680 Prairie Avenue
Beloit, WI 53511
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Wed Jul 8, 2009
Pat Venable LLC answered:
Faith, I think the best thing for you to do is check with a lender that handles loans such as FHA or USDA. These lenders are able to work better with customers that have less than perfect credit scores. The house that you are interested in may or may not qualify for these loans but no harm in finding out. ... more
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