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95624 : Real Estate Advice

  • All51
  • Local Info0
  • Home Buying32
  • Home Selling5
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Activity 46
Thu Nov 3, 2016
Alysse Musgrave answered:
This is very old question but I'll add my thoughts. I've been exclusive buyer's agent for 21 years....the vast, vast, majority of real estate agents are ethical people. But brokerages keep their lights on by hiring agents and charging big desk fees and commission splits. Most don't care who they hire as long as they can pay the monthly fee. And since it's not that hard to get a real estate license, a lot of unqualified people become agents.

When you want to BUY without getting ripped off, hire an Exclusive Buyer Agent to represent you. EBAs represent homebuyers only so there is no conflict of interest to jeopardize your negotiating position. Visit http://naeba.org for a referral.

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
Consumer Advocate
Exclusive Buyer Agent

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
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0 votes 23 answers Share Flag
Wed Jun 8, 2016
Hopelinda answered:
Even though the economy seems to be getting better, the number of mortgage delinquencies is still rising. Some homeowners are choosing to walk away because their debts are much higher than what their houses are worth, and many others just cannot afford their mortgages any longer. Although I am not thinking of walking away from a mortgage, I wondered how long those who stop paying their mortgages can live in their homes before the lenders kick them out. Here are some real life examples of people who lived in their homes for months or even years after stopping payment.

Ron Nash was featured in the CNN Life After Foreclosure slideshow and he vacated his home after not paying for the mortgage for 18 months. He feels that he "landed on his feet in just about every way." His mortgage was $5,600 a month and he moved his family into a $1,900 a month rental..

Web Reference: http://ForeclosureProcess.net
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0 votes 10 answers Share Flag
Mon Apr 4, 2016
Alexander Greer answered:
No.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com ... more
0 votes 2 answers Share Flag
Sat Mar 19, 2016
AJ Hernandez answered:
It depends the best thing to do is to consult a local real estate agent.

In some cases making some minor repairs will help increase the value of your home or just make it more appealing and thus make it easier to sell however in other cases the return on investment simply won't be there especially when hiring professionals so you may just be better giving the buyer a small discount or credit IF needed and saving yourself the trouble. Again this is where a local real estate agent can come in helpful as they can provide comparables and show the statistics of similar homes and what they are selling for based on condition.

Paint is almost always a good idea but rather than changing carpet maybe just have it cleaned, there are numerous other ways you can spruce up the place a realtor can usually provide a checklist or even a quick google search can give you some ideas even if you are not DIY type.

NOTE: In some cases certain repairs may be required by the lender depending on the loan program so you might even want to speak to a local lender that is either recommended by your realtor, your past loan office or if you would like a recommendation I know several good loan officers in your area.

Currently I only offer loans in Florida.
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0 votes 29 answers Share Flag
Thu Feb 25, 2016
My NC Homes Team answered:
You're about to lose your house and the money you've spent , you need to stop wasting your time online asking strangers who don't know anything about the specifics of your contract etc for advice when what you need to do is immediately go see an attorney. ... more
0 votes 1 answer Share Flag
Thu Jul 2, 2015
Dad asked:
Tue Jan 27, 2015
Raymond Chou answered:
Their website says that they are out of business.
1 vote 3 answers Share Flag
Mon Dec 29, 2014
Mark Anderson answered:
You will want to sell the home.
If you do not know a Realtor, Trulia has an agent directory for your area here :

http://www.trulia.com/directory/Elk_Grove-agent--13374/
0 votes 4 answers Share Flag
Thu Sep 18, 2014
Valli Lopez answered:
Hi
I'm not sure if this will help you immediately, but could.....We have just rolled out a program that is called a "New Path" loan. It basically helps people find a home that's for sale and buy it without having the credit or income or whatever your obstacle is, and live in it while paying your lender "rent" until you are able to take over the loan. If you are never able to, well you just continue renting. But this way, it's not based on your fico score, but rather your ability to pay.

Hope this helps, call me. My office is in San Diego, but we can lend anywhere in the state of California.

Valli Lopez
NMLS 980530
619-916-9595
Valli@ValliLopez.com
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0 votes 2 answers Share Flag
Sun Jun 15, 2014
Jason Andrews REALTOR answered:
If have a Costco Card you can check your credit thru there company Idenity Guard. I believe it's a small fee. Also its give you calculator scenarios which can adjust your credit up or down depending on what you want to do. You also can try creditchecktotal.com which is also a paysite that will give you all three credit scores monthly. Mostly the free sites only give you one score or like Identity Guard will give you one time three scores and following month they give you only one score.

Hope this helps during your recovery and if you need additional advice in your neighborhood I am down the street :)!!
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1 vote 2 answers Share Flag
Sun Jan 19, 2014
John Arendsen answered:
Tue Nov 26, 2013
Bruce Slaton answered:
I wouldn't put too much faith in the PropertyRadar stats in regards to how long...while they are true, the also span across multiple new laws and the new CA Homeowners Bill Of Rights, the National Settlement, the Robosigning settlements. What homeowners are finding is the current processes are more refined and the process is taking much quicker than years past which can be a surprise.

Best of luck in your situation but I agree, it would be your best option to consider a short sale while you have the time

Bruce
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0 votes 5 answers Share Flag
Wed Oct 23, 2013
Hector Solis answered:
I would love to help you. If you would like to give me some more information I will contact you and help you through every step. I have 3 agents on my team making sure one of us is always available to help our clients when they are available. Please email or call me and let me show you what great service really feels like!! ... more
0 votes 7 answers Share Flag
Sun Sep 29, 2013
James Tan answered:
Hi Arminder,

Following through Sue's excellent answer, the best source of information on a property that is in foreclosure is actually at the sacramento clerk recorder's office and the assessor's office. Here you can search for any possible liens that are on the property. At the assessor, you can get information such as the owner's name and address, the property info, etc. There are also websites that you can subscribe to get more information on a foreclosed property. I have to caution you that IRS, FTB tax liens are not extinguished by a trustee sale. Also, a trustee sale may be initiated by a second lien holder, in which case, the buyer still has to pay off the first lien holder.

As you can see, there are a lot of issues that one would possibly have to deal with when buying at the court steps. Nowadays, there are a lot of people (professionals) out there buying at the court steps. The difference in price is no longer significant.

If you are looking for a reasonably new home in elk grove, I would suggest it is better to just buy through an agent on the MLS. The risks are much less, you can do inspections, and you have contingencies, etc.

Let me know if you need any further info,

James Tan
bethany real estate
916 230 5250
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0 votes 7 answers Share Flag
Fri Sep 20, 2013
Jim Walker answered:
GSE guidelines for cash out refi limit your cash out to 70% on duplex property or up to 75% on a single family house. I expect the HELOC guidelines for most lenders to conform to that LTV maximum limit.
You indicated that it is now free and clear.
So if your property value is $200,000 the most you can pull out is $150,000 (less any lien that has to be paid off) if it is a house, or $140,000 if it is 2 to 4 units.
If it is 5 or more units. It is a whole nother ballgame.

You can get 90% to 100% of the value out if you sell it. First, get a estimate of value and marketing plan from one of the Realtors that responded to your post. Your best prospect to buy it if it is a single family house is the tenant that is living there now.

Because you own it free and clear, you could sell it with owner financing, take a large down payment for the cash you need, then take payments that are the same size as the monthly rent you are currently earning, without having to shoulder the insurance, maintenance, property tax, and utility bill that you currently carry.

These are just random ideas, may not fit your personal situation. But it is okay to consider alternatives before you commit to the equity loan.
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1 vote 6 answers Share Flag
Wed Jul 10, 2013
Sue Archer Reynolds answered:
I believe the foreclosure process takes the same in all states...a total of 111 days. But understand this, by not paying your mortgage gives the lender the OPTION to foreclose. That foreclosure proceeding can take a minimum of 111 days but the lender can choose to delay it or not do it at all. In California statistics show the average foreclosure is 335 days.
Someone once asked if they could 'compel' the lender to foreclose. No, you can't. You have liability on the property until such time that the lender CHOOSES to execute their foreclosure option. Until such time, if someone trips or falls, you are liable. If your county or city files penalties against the property for it not being maintained you are liable.
With all of the options available, why would you not short sale the home instead? Take control of the timing of the process, have better results in terms of its affect on your credit, job opportunities and peace of mind, and be able to move on without fear of further collections from unpaid billings during the time that you owned the property. In a short sale, all bills are cleared. Go to AskSueArcher.com for options available to you. Good luck.
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0 votes 2 answers Share Flag
Wed Jul 10, 2013
Jim Walker answered:
The zip codes for Plymouth, Minnesota are: 55446,55442,55447,55441.
This question was placed into the wrong zip code in California
0 votes 1 answer Share Flag
Wed Jun 19, 2013
Jim Walker answered:
This is my opinion, not insight: Buying RE at auction is risky. Buying without a title search and title insurance is riskier still.
0 votes 2 answers Share Flag
Wed Apr 3, 2013
Sue Archer Reynolds answered:
I see you received no replies. It could be because it was posted in Sacramento, CA while you reflect having purchased a home in Mays Landing, NJ.

Your CPA who is completing your taxes would have the answer to this question, not a realtor. I do know that Mortgage insurance, or PMI is now allowed as a deduction in your taxes. Beyond that, take your closing statement with you to your CPA and have them explain what is deductible or not related to both your federal and state income taxes.

Good luck.
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0 votes 1 answer Share Flag
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