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Home Buying in Fort Smith : Real Estate Advice

  • All51
  • Local Info5
  • Home Buying13
  • Home Selling6
  • Market Conditions1

Activity 18
Fri Oct 28, 2016
Vanesea Malone asked:
discouraging me when I'm looking for a home for my family .. Any suggestions on what should i do or can you lead me into a great path of some one that can potentionally help some one…
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Wed May 20, 2015
Lisetteanaya90 asked:
Wed Mar 11, 2015
Leslie Watkins-Schoen answered:
Really the best way is to have an attorney draw up an agreement. There are different kinds of owner financing. Some protect the seller and some protect the buyer. When I have done it personally in the past it was something the attorney did for me. ... more
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Thu Jan 16, 2014
Michael answered:
Sharon: I work for a non-profit agency in Fort Smith and we have a Homeownership department where we have several ownership programs. Most with grants to help with down payment and closing costs assistance. I manage a program called Mutual Self Help. In that program you build a brand new energy efficient home. We have several 2 to 4 bedroom plans to choose from depending on your budget. Another wonderful part of the program is the loan is no down and the payments are also based on your income, so your interest rates could be as low as 1%. Most of my homeowner's house payment with taxes and insurance are cheapter than what they pay in rent. Would love to see what we can do to help you. All of our services are free. If interested call me at 479-785-2303 ext 109. Michael. ... more
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Sun Sep 22, 2013
m_santo asked:
...via my credit union and the VA home loan; however, I would not be able to physically occupy that property until I reached the end of my active duty service contract (March 2014). Are…
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Fri Aug 9, 2013
Renee Tedford answered:
Hi Mike,

Yes this home is still on the market. It is a great home with 4 bedrooms, over 2600 sq ft and an in-ground pool for $189,900. I would be happy to show you this home when you are in the area.

You can reach me at 479-883-5851.

Renee Tedford
Sagely & Edwards
... more
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Tue Jul 2, 2013
Dan Tabit answered:
A mortgage loan generally takes 30 - 45 days to close on a purchase. During this period the house is usually not active on the market, but a sold sign may or may not appear. I'm not from your area, but in many areas well priced and presented homes are selling very quickly.
If you are considering selling your home, take a hint from what you are observing, if the homes are actually not selling, then they may not be priced appropriately. Pricing your home high, hoping for an offer and having some room to negotiate is not a good strategy. You end up dropping the price, having a long marketing time and coming up with less in the end. Price your home to be the best bargain in the price range with a great local agent. You'll. end up with a faster sale for a higher price.
... more
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Thu Feb 28, 2013
Oakview Road answered:
A great realtor for this area is Karen LaRosen I use her for everything.
0 votes 5 answers Share Flag
Sat Feb 16, 2013
Shane Milne answered:
If it was a Ch 7...

• FHA requires 2-years BK discharge (only 1 year if it was due to extenuating circumstances, such as medical or death of a wage earner, etc.)
• VA requires 2-years BK discharge
• USDA requires 3-years BK discharge (only 1 year for extenuating circumstances)
• Fannie Mae & Freddie Mac require 4 years (only 2 years for extenuating circumstances)

If it was a Ch 13...

• You can be still *in* a Ch 13 BK with FHA or VA financing, it is just required that:
- one year of the pay-out period under the bankruptcy has elapsed
- the borrower's payment performance has been satisfactory and all required payments have been made on time, and
- the borrower has received written permission from bankruptcy court to enter into the mortgage transaction.
• If it was a dismissed BK then 2 years from the dismissal date for FHA or VA financing
• USDA requires 3-years BK discharge (only 1 year for extenuating circumstances - however there are lenders who will use the Ch 13 BK filing date for this seasoning requirement - each USDA lender has a slightly different take)
• Fannie Mae & Freddie Mac require 2 years from discharge date & 4 years from dismissal date (2 years from dismissal with extenuating circumstances)

In all situations you need at least 12 months of re-established credit and 3 traditional trade lines, some lenders want 3 trade lines of 12 months each. Trade lines that survived a BK, such as a credit card you kept open, a car loan you maintained payments on/didn't include, student loans that you are making payments on that couldn't be included, etc. can count towards the re-established credit.

Other than medical collections that can be properly explained, if there are any late payments or delinquent accounts (collections, charge-offs, judgments, tax liens) after the BK or foreclosure then the time seasoning often starts over again from the latest late payment/delinquent mark (underwriter's discretion). Having a verifiable on time housing payment history goes a long way to making an underwriter feel comfortable, as well as taking a pre-purchase housing counseling class with a budgeting/financial model. Practically anything you can do to prove that you have made & kept a vow to make all payments on time will be helpful.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct
... more
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Fri Feb 15, 2013
Yolanda Mullins answered:
Bradford & Udouj. I just switched to this company based on it's sales history. Please call if I can help you in any way. 479-806-3608 Thanks. Yolanda Mullins
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Wed Nov 14, 2012
Paul Mccollom II answered:
We can help with credit repair and have houses for sale. Call 479-782-4991 or for more information.
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Wed Nov 14, 2012
Paul Mccollom II answered:
Contact the Fort Smith Housing Authority at 479-782-4991 or They have houses for sale and can help with credit repair.
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Mon Jul 23, 2012
msladyjem01 asked:
Wed Jul 11, 2012
Jeanette Jones answered:
My homes are all listed at current market value. If there is an a particular property you would like to discuss....please let me know. Thanks
0 votes 2 answers Share Flag
Mon Jul 9, 2012
Jennifer Lamb answered:
I cannot speak for everyone but it seams to have stablized in value. Even though we saw a drop we didn't have the devastating drops some areas of the country had.
0 votes 4 answers Share Flag
Wed Nov 4, 2009
Tracey Simms answered:
The tax credit extension has passed the senate and will then go to the house and then the president for approval
The bill keeps the first time home buyer credit at $8,000 but also ads $6,500 for move up buyers.
There is no increase for first time home buyers so if you would still only get $8,000 even if the credit is extended
... more
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Mon Dec 22, 2008
Steven Blackwood answered:
That would depend on the rate and terms that are being offered to you on the 'owner financing'. And whether or not you are on a 'contract for deed' or if the property has been titled into your name and a note and mortgage filed. The details of your current arrangement would dictate that answer. Interest rates are at a historic low so it would certainly be worth investigating. There are a number of loan types, each of which will have different costs associated with them so just be sure that you investigate your options with someone reputable. ... more
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