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In My Neighborhood in Fairfield : Real Estate Advice

  • All167
  • Local Info13
  • Home Buying54
  • Home Selling8
  • Market Conditions8

Activity 5
Wed Nov 19, 2014
Tyria Valledor answered:
Along with the McDonald's w/a drive-thru, there is a 8900 sq/ft multi-tenant retail building, and parking lot. .
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Thu Mar 6, 2014
Hank Wilson answered:
Every market is different. Your local market may be positively or negatively affected by economic factors like a factory opening or closing etc... The only crystal ball would be knowing when there would be an influx in jobs and a lack of inventory. ... more
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Sun Sep 2, 2012
Kathy Luebcke answered:
Cordelia, Green Valley and Rancho Solano are nice communities to the northern side of Fairfield.
Cordelia can be very windy should you decide to relocate there. Just 10 minutes away in Green/Suisun Valley you will find a small microclimate similar to weather in Napa except less Fog in winter. There is no noise that I am aware of from the trains. Occasionally you see airplanes from Travis flying over and typically they are high enough there is no noise. This area off Highway 80 is a great location for commuting to SF/East Bay or Marin. ... more
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Fri Jan 20, 2012
Olga Cisneros answered:
Hi Pauline,

In Solano County, the golf course that is guard gated at the entrance is located in Vallejo CA. The area is called Hiddenbrooke. As for Catholic Churches and library locations, a little driving is required. I am available, if you are looking for a Realtor in the Solano area. I am here to help with your real estate needs! My contact information is below.

Olga Cisneros (R)
Re/Max Gold
707.685.4764
... more
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Sun Apr 11, 2010
Louwu answered:
First, here are FHA’s guidelines regarding bankruptcy:

E. Bankruptcy. A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. Additionally, the borrower must have reestablished good credit or chosen not to incur new credit obligations.

The borrower also must have demonstrated a documented ability to responsibly manage his or her financial affairs. An elapsed period of less than two years, but not less than 12 months, may be acceptable if the borrower can show that the bankruptcy was caused by extenuating circumstances beyond his or her control and has since exhibited a documented ability to manage his or her financial affairs in a responsible manner.

Additionally, the lender must document that the borrower’s current situation indicates that the events that led to the bankruptcy are not likely to recur.

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage provided the lender documents that one year of the payout period under the bankruptcy has elapsed and the borrower’s payment performance has been satisfactory (i.e., all required payments made on time). In addition, the borrower must receive permission from the court to enter into the mortgage transaction.

If your borrower has a bankruptcy that is less than 2 years but more than 12 months old and you want to try for the “extenuating circumstances” provision, keep in mind that many extenuating circumstances which would be acceptable to explain a few late payments will not be good enough to avoid waiting 2 years after a bankruptcy. The extenuating circumstance here must truly be a catastrophic experience, such as the death of a primary wage earner. It also cannot be a situation where the borrower filed a bankruptcy over a small amount of debt that the underwriter might feel they should have toughed out and paid.

Some lenders actually have stricter requirements and will look into the details of the bankruptcy. For instance, even if the time required has already passed but it looks like the bankruptcy was filed over a relatively small amount of debt which the borrower could have paid off with a little sacrifice the lender may require an automated approval before granting the mortgage. Of course, some lenders are much more lenient than others. In your own mind, just use common sense to make sure you are dealing with a borrower who really has gotten over their problem and is unlikely to repeat it.

Hope that answers your question. Any more questions, give me a call at 949-870-2882.



Cheers,


Lou
... more
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