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Home Buying in Indianapolis : Real Estate Advice

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  • Home Buying345
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Activity 392
Yesterday at 7:14pm
Trpdenson asked:
Saw 2 fraud listing as rent to own for $20000
They are rentals through american homes 4 rent.
0 votes 0 Answers Share Flag
Tue Feb 7, 2017
Bebemassey1978 asked:
Looking for a 3 to 4 bdrm in Pike Township school district.
My credit isn't bad, my problem is I don't have enough credit established.
I have taken several first time homebuyers classes,…
0 votes 0 Answers Share Flag
Fri Feb 3, 2017
Alysse Musgrave answered:
Interest rates and the cost of financing are based on the lender's risk. The higher the risk to the lender, the higher the cost to the borrower. Wait until your scores are around 640 before you try to buy a home.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
... more
0 votes 13 answers Share Flag
Tue Jan 31, 2017
Alysse Musgrave answered:
When you want to buy a home, hire an Exclusive Buyer's Agent to represent you, not a regular buyer's agent. EBAs represent homebuyers only, so there is no conflict of interest to jeopardize your negotiating position. Contact http://naeba.org for a referral to an EBA who will give you valuable advice, not a sales pitch.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
... more
0 votes 2 answers Share Flag
Thu Jan 12, 2017
Tazz El-Amin answered:
I just recently purchased my first home, last year in March. I went through a First Time Home buyer's program at a local library where I live. It was 3 classes that lasted 2 hours each. I submitted my credit report, met with lenders and other people you'd need during the process. Upon completion of the classes, I met with a housing counselor who started my file, helped me to start a budget, told me to continue paying my bills on time and not to start any new lines of credit. My score was in the mid 5s, so she suggested doing the above mentioned for 2 years to bring up my score. Once my score was up to 640, I started the process to homeownership. It's been almost a year since I purchased my home, a duplex so it's extra income and my score isn't very high. Hope this helps, good luck to you???????? ... more
2 votes 30 answers Share Flag
Mon Dec 26, 2016
Tom McCollister answered:
Surprised the lenders weren't able to answer for you. I don't believe it would be a 203K loan, since you're purchasing the home for cash. It would be a form of refinance, or home equity line of credit, something along those lines. You might be better off financing the purchase of the home and using the cash for the repairs, that may be the simpler road to take. ... more
0 votes 1 answer Share Flag
Mon Dec 26, 2016
Tom McCollister answered:
With mold, foundation, and other safety issues, I would think the seller should release the earnest money back to you. Contact your agent, and discuss with them, to find out what you need to do to be released from the contract and get your earnest money back. ... more
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Mon Dec 26, 2016
Tom McCollister answered:
Was a copy of the quote provided to you prior to closing? I would think that part of the inspection response negotiations would be that seller to have it evaluated and provide copy of the results prior to closing. Not sure why contractor isn't willing to provide if you plan to have him complete the work. If you have him give you a new quote and it is 7,000 for example, and the sellers told you the quote was 3,500. You would probably be able to take the sellers to small claims court to sue for damages because they lied and said the quote was 3,500 when it was actually 7,000. Contact your agent and see if they can get a copy of the quote to you, if you plan to have the contractor complete the work, have them provide a quote for you. ... more
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Mon Sep 19, 2016
Rosejudyy answered:
For a jumbo construction loan, I have not seen anything besides 20% down. I have not heard of anyone that has 10% down on a jumbo construction loan I am afraid. Hopefully you get some positive responses though. If not, I wonder if you can come up with 20% down (maybe get some gift money?), and then after settlement, get a 10% equity line to pay back whomever you borrow another 10% from? Just a thought. Good luck.
http://usaconstructionloans.com
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Wed Aug 24, 2016
Invstnlfp answered:
I am state and federally licensed to write mortgages in 31 states for a top direct lender in the mortgage industry who offers conventional, FHA, VA, and USDA loans. We keep your info private not broker it out and we go down to a 550 credit score for VA and FHA loans.. Are lowest score we accept for government loans are 550 when most lenders require a 620 and brokers a 580. You have to have two years of income with a score over 550 with bankruptcies discharge date 2 years and over. We have basic guidelines and a pretty easy process. Feel free to text me or call me anytime up to 10:00pm Eastern with any questions.
Brian Young 214-797-3479
NMLS
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0 votes 15 answers Share Flag
Tue May 10, 2016
Dave Whitfield answered:
I *think* it depends on when you file. If I remember right from last time I did it, the credit will go into effect the next time the county does an assessment and bills either you or your mortgage lender. And I *think* they do that every April and every October. It's definitely twice a year. If they bill your mortgage company, then that company should see the change at that time and then probably issue you a refund check for part of the escrow you've accumulated. ... more
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Wed Apr 6, 2016
Yakinbisasampai151 asked:
http://www.ustream.tv/channel/cUZYP6Jb2RT
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Tue Feb 2, 2016
Dan Tabit answered:
MrHobby,
Your question is about real estate, but it's really a legal one. If you have any paperwork from this builder review it and have it reviewed by your attorney. Print out any emails that contain your discussions and negotiations and provide them as well.
If you did commit to work with this builder, they have expenses and opportunity costs which they won't be able to recover if you just walk away.
If you didn't commit to them in any way, they are not managing their business in a professional way and may not be in business for long.
We can't settle this for you either way, but you're better off getting legal advice from a local attorney early on than too late.
... more
1 vote 2 answers Share Flag
Wed Jan 27, 2016
Jssom asked:
I went to the picture you have listed and clicked edit. I get a message saying sorry there is a message. Tell me what I need to do. Joan Moss, jssom@windstream.net
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