Home Buying in Louisville>Question Details

Wes Black, Real Estate Pro in Louisville, KY

To the buyers in Louisville, Ky, what issues are preventing you from buying a home in next 4 weeks?

Asked by Wes Black, Louisville, KY Sat Jan 28, 2012

Maybe I can help you solve some of them.

Help the community by answering this question:


Bad credit, mostly, LOL.

We're currently renting and love the neighborhood, so we'd like to stay here. We found a home we like, but it's in pre-foreclosure. We haven't had much luck with the bank (BOA) because of the pre-foreclosure status. They told us our best bet would be to contact the owner. We've done a lot of research and have discovered the owner died a couple of years ago, out of state. Before he moved, he got divorced and the wife filed bankruptcy. We located his father who stated that because of the large amount of debt owed, no one wanted to become executor of his estate. We're pretty much stuck at this point, but not sure if we would have been able to afford the house anyway.

We like the above house the best, but again, kind of in limbo with that. There's another house being offered by Fannie Mae down the street that we've looked at. The last selling price back in 2006 was $80,000, Fannie Mae is asking $161,500. Again, like the first one more, so not sure if we even want to offer on this 2nd one.

We rent and our lease will be renewing soon. We've been in this rental house for 2 years and pay about $925 a month, if I'm not mistaken. Neither my husband nor myself have good credit, although we've always been great renters, LOL. Also, I'm a vet and have never used my VA loan, so I have that still.
0 votes Thank Flag Link Sat Feb 18, 2012
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