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Jamaica : Real Estate Advice

  • All38
  • Local Info4
  • Home Buying14
  • Home Selling0
  • Market Conditions2

Activity 30
Mon Jun 5, 2017
Kathy Burgreen answered:
If you owe child support / arrears, NO lender will give you a loan for the following reasons:

1. Lenders need to be in 1st position when financing a home to buy. This means if the buyer defaults or pays late on the loan, your lender has the authority to take legal action against you and foreclose on your home. When buying a home, technically you do NOT own it. Your lender owns your home until the loan is paid in full.

2. If a buyer owes money to the county, state or IRS for taxes, child support, etc. then your lender is automatically in 2nd position because the state, county or tax authority is automatically in 1st position. This means if you fail to pay child support, New York State will take legal action against you and foreclose on your home or put a lien on it. Your lender is using your home as collateral for the loan. If the state takes your home, your lender has nothing to guarantee the loan with because the lender just lost control of your home. Typically what lenders do is they will pay your arrears and then charge you the amount of the arrears as part of your mortgage payment. So your monthly mortgage payment will increase for the life of the loan. Your lender will also charge you additional fees for this.

3. At this point, you cannot afford to buy anything. You need to learn that in addition to a mortgage, you will need to pay property taxes, homeowners insurance, higher electric bills, etc. Sorry, but paying child support has a higher priority than buying a home. You should have thought about this before you had a child.
... more
0 votes 1 answer Share Flag
Mon Apr 24, 2017
Cecil Bramble asked:
Wed Mar 30, 2016
Nykole Slay asked:
I would rather the apartment be located in Queens but willing to settle in Brooklyn if nothing is available in Queens area.
0 votes 0 Answers Share Flag
Thu Apr 23, 2015
Aaron and Cheree Tiry answered:
Have you checked out the "rent" section at the top of Trulia? There may be something in there. Otherwise you could also check Craigslist.com to see what they have for posted for rentals. ... more
0 votes 1 answer Share Flag
Mon Oct 20, 2014
Silvia Tejeda answered:
Hi Cassandra
Have you ever considered purchasing an apartment? you can get something with a low maintenance and mortgage that will cost you less than $1K a month
0 votes 4 answers Share Flag
Mon Jan 13, 2014
Anu Dutta answered:
We specialize in rentals, please check www.WERENTNY.com for all our listings
0 votes 3 answers Share Flag
Mon Jan 13, 2014
Anu Dutta answered:
We specialize in rentals, please check www.WERENTNY.com for all our listings
0 votes 4 answers Share Flag
Sat Dec 21, 2013
Anna M Brocco answered:
No link is visible therefore not sure, but you can try contacting the listing agent directly...
0 votes 1 answer Share Flag
Tue Nov 26, 2013
Winta Marshall-Crawford answered:
yes you can find a property in this area for that price, I specialize in the southern part of queens.
Your budget is realistic !
0 votes 9 answers Share Flag
Tue Nov 26, 2013
Winta Marshall-Crawford answered:
The Best place to start in purchasing in a home if you are first time homebuyer research course and see the speacial grants and infomration that maybe available in your area, create a budget, go to a financial insitution and see what you can afford based on this information select a neighborhood find a realtor who specializes in the area and let them help you find the property that best fits your budget and needs ... more
0 votes 21 answers Share Flag
Thu Oct 24, 2013
Anu Dutta answered:
Check the print media (like the morning free newspapers AM new york, metro etc) they might have some availabilities, the real estate agents are prohibited from dealing with basements (illegal). If you're ok to spend about $1100 then we might have something, please check our site www.WERENTNY.com for our available listings. ... more
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Tue Jul 9, 2013
Mike Galak answered:
This property is different. It's 60x75.
0 votes 3 answers Share Flag
Wed Jul 3, 2013
Belal Mohd answered:
"In a transaction involving a federally related mortgage, the loan originator is required to provide a GFE to the borrower. Failure to provide a GFE as required is a violation of Section 5 of RESPA."

If you are absolutely sure that the loan officer never gave you the GFE than you should at least report it to his / her supervisor because:

a) Like Javier said, it is an inexcusable mistake, which may continue to happen unless corrected. or
b) The person is simply dishonest.
... more
0 votes 6 answers Share Flag
Thu May 16, 2013
Martina Ryan answered:
Speak to the mortgage broker who wrote the loan for you. He should be able to come up with a solution.
0 votes 6 answers Share Flag
Wed Apr 24, 2013
Anu Dutta answered:
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