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Financing in Flemington : Real Estate Advice

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  • Local Info0
  • Home Buying12
  • Home Selling3
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Activity 6
Fri Aug 28, 2015
Amelia Robinette answered:
Melanie - definitely talk to a lender with deep experience with 203k loans. They do not take "months to approve" in many cases. You'll need to have a contractor lined up who can work with the 203k guidelines, best to get one who has done it before. Your loan officer may be able to point you in the direction of one or two they've worked with before.

Talk to a lender ASAP if you're concerned about losing the opportunity.

Best of luck!
... more
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Wed Sep 8, 2010
Sexiwomyn@aol.com asked:
Concerning a baloon mortgage at FNB with 3 people listed on mortgage can changes be made or one take the other off without all 3 in agreement or @ leas tnotification to the other parties.…
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Wed Sep 8, 2010
Sexiwomyn@aol.com asked:
Concerning a balloon mortgage at FNB with 3 people listed on mortgage can changes be made or one take the other off without all 3 in agreement or @ leas notification to the other parties.…
0 votes 0 Answers Share Flag
Wed Sep 8, 2010
Sexiwomyn@aol.com asked:
Wed Sep 8, 2010
Sexiwomyn@aol.com asked:
Concerning a baloon mortgage at FNB with 3 people listed on mortgage can changes be made or one take the other off without all 3 in agreement or @ leas tnotification to the other parties.…
0 votes 0 Answers Share Flag
Fri Jul 17, 2009
William Leigh Holt answered:
Hetal:
I think you are looking at this through the wrong end of the telescope, so to speak. In New Jersey, the standard NJ Association of Realtors contract (and therefore almost any other contract as well) contains a standard clause that says, simply put, no mortgage, no deal. Since the terms of the mortgage that you seek is spelled out, the seller should not be able to insist that you add a cent more to your down payment to make up any appraisal shortfall. Some tricky sellers and their attorneys are attempting to put language in the contract to the effect that you will indeed do this very thing, so it is wise to have your own experienced real estate practicing attorney review the contract document. In New Jersey, you have a three-day attorney review AFTER you sign a contract. The attorney can REJECT the deal and state what would be acceptable, so you would have good protection IF YOU USE AN ATTORNEY. The terms about the down payment and the mortgage amount are just another reason why you should so. ... more
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