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Clark County : Real Estate Advice

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  • Local Info2
  • Home Buying9
  • Home Selling0
  • Market Conditions0

Activity 4,625
Yesterday at 3:45pm
Miao Yu asked:
She checked the box on the line for assuming an existing loan rather than obtaining a new one, which is the correct option. Should she correct it, or can I let it slide since the intent…
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Thu Jul 20, 2017
Isaiah Y. answered:
Well now that's it's 2017 and mortgage rates are where they are.....I'd say now is the time to buy. Rates have gone up and they've gone back down. Before a spike in rates again.......buy! I'd recommend talking to Home Loans For All. They have been excellent with forecasting etc. We also have been sending clients to them when they come to us and they do not have a lender yet. Home Loans For All has a massive network of lenders they work with. I'll include a link to them.

Hope that helps!
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Wed Jul 19, 2017
Faith T answered:
Hi,

Please note that once you post a property on Zillow, it will need 24 to 48 hours for the listing data to completely syndicate to Trulia.

Thank you for using Trulia!

Faith
Consumer Care Advocate
http://www.trulia.com/help/ask/
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Mon Jul 17, 2017
Kathy Burgreen answered:
You are in trouble (big time). The issue is as follows: All tax authorities (IRS, State, County - property taxes) are automatically in 1st place - ahead of your lender if the owner defaults on paying taxes. Lenders need to be in 1st place, so before they give you a loan to buy a home, they need proof that you (the buyer) does NOT owe taxes to anybody. Lenders can refuse to fund your loan if you owe the IRS money. Briefly, the IRS can legally foreclose on your home (take your home away from you and evict you) and sell it for full value. This means your lender has a worthless mortgage loan because the IRS has possession of the house - not the lender. The IRS is just interested in collecting what they are owed - they don't care one bit what is owed to the lender. Therefore, the lender can try to collect from you even if you lost the home - that will be a legal challenge. So to prevent this risk, lenders don't give loans to buyers who owe money to the IRS. ... more
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Sun Jul 16, 2017
Scott Godzyk answered:
Trulia does not list or sell homes. They are a site that you can post homes for sale or rent on. They are not a real estate company
0 votes 2 answers Share Flag
Fri Jul 14, 2017
Libra2593 asked:
Help!! Me and my family are looking for a 3 to 4 bedroom house around 1000 - 1300 a month. My husband is a disabled vet, his credit isn't the best. We need to move out by the first. We…
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Fri Jul 14, 2017
Moniquepacheco780 answered:
Hi I am in the process of closing my house within two weeks on a convential loan but when I asked for 1000$ towards the house for the damage roof that got estimated by a lic contracter the seller does not want to fix the roof or give me the 1000$. I was wondering will i loose my earnest money deposit? Again this house is closeing in two weeks due to the seller asking if we can close in two weeks but the roof is in bad shape and my agent says we can not do anything and I will no get any of my money back! Is there any other way I can go about this? ... more
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Thu Jul 13, 2017
Genesismariomike asked:
Wed Jul 12, 2017
Angelica P answered:
Hi,

I have emailed you regarding this.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
http://www.trulia.com/help/ask/
0 votes 1 answer Share Flag
Tue Jul 11, 2017
Gracemroberts22 asked:
I am looking to rent a 4 to 5 bedroom home. I currently rent a 5 bedroom but two rooms do not have AC. I am fostering my siaters 5 kids and the government requires that I find a home that…
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Tue Jul 11, 2017
Kathy Burgreen answered:
You just made your situation 10x worse. Landlords refuse to rent to people with evictions because if you did it once, you will do it again. Evictions are expensive for landlords and they don't want to waste money fighting a tenant in court, so it's much easier to do a credit and background check for every tenant, then if you don't qualify, the landlord can legally reject you.

Evictions will stay on your credit report for years.
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Tue Jul 11, 2017
Kathy Burgreen answered:
Mon Jul 10, 2017
Kathy Burgreen answered:
Contact a local lender (use your bank since you're already a customer) and find out if you're allowed to use the equity in your home to reduce the PMI. From my experience as a realtor, you cannot use equity to reduce PMI which means you won't be able to refinance.

Your situation is a major reason why buyers should not buy homes unless they have at least 10% cash for a down payment. PMI is very expensive and a waste of money. However, too many buyers don't budget properly and spend money foolishly. Then when they want to buy a home, they're stuck paying PMI because they never saved for a down payment.
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Sat Jul 8, 2017
Kathleen Kancsar answered:
FHA will require that 1% of her loans be held against her, and that is not the case with an FNMA loan. If you are interested in lenders who can help, email me at kat@besthomesvegas.com. ... more
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Sat Jul 8, 2017
Ascamp1 asked:
Thu Jul 6, 2017
C7residences asked:
the 1st photo on Trulia. How do I push that photo back where it belongs as 18th. The 2nd photo needs to be the 1st. Thanks.
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Tue Jul 4, 2017
Kathy Burgreen answered:
Your idea works nicely in theory but not in real life. The issue is let's say you found a rental that you can afford and is available. If you were to submit all your personal and financial information to a realtor or landlord and have him/her email you an application and you sign it, then the rental is yours. This includes you paying a fee for a credit and background check.

What's wrong with the above picture? You don't have a guarantee that the realtor or landlord will steal your personal or financial information for ID theft. Remember, you're out of town and this is how cons happen. If you're not there in person, you have no proof whether your information was stolen or not. It's your word against theirs.
Another issue - photos on real estate listings are typically stretched or distorted and never show or reveal anything that does not look good. When you see a rental in person, you will see everything - the good and the bad. When viewing listings online, all you see is the good pictures. You have no idea what is not being shown or hidden.
Finally, have you visited the neighborhood in person and visited the building from outside? Realtors and landlords are prohibited from giving opinions on categories protected by Fair Housing laws. Therefore, they cannot tell you what the neighborhood is like in terms of people living there, school quality and other issues that may or may not be important to you. You need to research the neighborhood you will live in. Suppose you don't like it? You signed a lease which means you're stuck living there whether you like it or not.
How does the building look from the outside? If it's not photogenic, it will never show up in real estate listings.

Back to your question. Hopefully I gave you a realistic picture why you should not sign a lease for a rental before you physically move to Las Vegas.
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