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95632 : Real Estate Advice

  • All13
  • Local Info0
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 10
Thu Jul 14, 2016
Derek Jones answered:
What's the average days on market for a home in your neighborhood? How is your home being marketed to buyers? What's the feedback from buyers that have looked at it?
0 votes 1 answer Share Flag
Thu May 12, 2016
Sheryl Arndt answered:
Hello Horsefancy, you may qualify ONE DAY after a short sale, foreclosure or deed in lieu with 20% down and minimum 660 fico score and from 25% down with a lower score.

You may qualify FHA 3 years after a short sale, foreclosure or deed in lieu from 3.5% down or for minimum out of pocket expenses with the 3-5% Sapphire Grant down payment assistance program.
You would need 4-7 years after a short sale to qualify conventional depending on the banks.

You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7 or
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0 votes 17 answers Share Flag
Wed Oct 8, 2014
Debra (Debbie) Rose answered:
That's a first for me!

Is the home you rent situated on many acres, or is this tent within a few feet of the house or in the backyard?

My initial response would be to say, no, she can't invade your privacy by erecting a tent close by - I assume you rented the home AND the land it is on. read your lease!

Is this a temporary situation, or is she planning on staying there indefinitely?

You might want to check with an attorney if you can't straighten this out with her.

Best wishes.........
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0 votes 1 answer Share Flag
Mon Aug 26, 2013
JCL Mortgage answered:
Thu Dec 6, 2012
Ernest Mathews answered:
Things are inproving in the country You need a agent that knows the area I have live out here for 25 years and this is also were my office is call and we can talk
Ernest Mathews
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0 votes 7 answers Share Flag
Fri Nov 16, 2012
Jacob Varghese answered:
Yes Kinderlynn - Sacremento and any place in CA for that matter.

NMLS 327086
0 votes 2 answers Share Flag
Tue Oct 30, 2012
April Cooke answered:
Your mistake was going to your bank, it is very hard to qualify for loans or refis with the larger banks right now. You want to get qualified with a Mortgage Banker, they are Direct Lenders.
You need someone to look at everything you are wanting to do and find the right direction for you to go in. Refining your home will depend on the type of loan you have and the current market value.
Your payment seems very high. Your property taxes may be higher than they should be. If you want to talk about your situation, please give me a call, so I can get a better idea of your needs, then I send you to the right person, Call me at 916-769-3694.
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0 votes 4 answers Share Flag
Tue Apr 10, 2012
Rene' De Blanco, MBA answered:
The buyer's lender will want to have all liens against the property cleared. Frankly, no lender is going to extend a loan on a house with a lien (secured or unsecured) on title. Furthermore, it is unlikely the title company will insure the lender's policy without clearing the lien(s).

Hope this helps!
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0 votes 5 answers Share Flag
Thu Oct 13, 2011
My NC Homes Team answered:
I'd suggest you proceed slowly and with reasonable expectations. I'd also look around for a very experienced by broker who works with investors and can offer you guidance. I've attached a link below on how to find such a buyer broker.

The general rule of thumb I suggest to my investor clients is 10 years gross rent is maximum acquistion cost. In other words if a property will rent for $1,500 a month , that's $18,000 a year or $180,000 maximum purchase price. Obviously if you can find a home that offers this type of rental income for under $180,000 that's to your advantage.

The other advice I'd offer any new real estate investor like yourself is never procrastinate when it comes to collecting rent. Someone should be knocking on the door the moment the rent is more than 24 hours late. If they don't collect the rent right then and there, you should immediately start the eviction process. You can always stop it, but never under any circumstances procrastinate.. Tenants must pay rent on time or they must go there's no middle ground if you're going to be counting on this money for your cash flow.
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0 votes 7 answers Share Flag
Tue Nov 30, 2010
Bud Zeller answered:
Interview at least 3 contractors for experience in the area of the home. Check references an the state contractors board to make sure they have the appropriate licenses, etc!
0 votes 2 answers Share Flag
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