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49546 : Real Estate Advice

  • All18
  • Local Info0
  • Home Buying14
  • Home Selling2
  • Market Conditions0

Activity 17
Thu Nov 2, 2017
Kathy Burgreen answered:
You need to visit some local mortgage lenders (start with your own bank first) and ask them what their minimum loan amounts are for financing. The issue is there are lender costs to issuing mortgage loans and with the strict laws and regulations, most lenders refuse to issue mortgage loans below $100,000. A few will go down to $80,000. but anything below that - forget it. I have read from a few lenders online that in some counties in the U.S., there are lenders that will finance a $60,000. loan. So it's your job to speak to some local lenders and ask them if they will go down that low. If you can't get financing, you may have to end up with a personal loan instead.

Your other issue is realtors. Same thing. Visit a few local brokerages in person and ask the Office Manager or Broker in Charge if any of their agents will help you find a home for $60K. Realtors are independent contractors and work on commission. Therefore, they can choose who they want to work with and are allowed to set limits for buyers. This means if realtors don't want to work with buyers who want a $60K home, they don't have to.. They may only want to work with buyers who can afford $100,000. or higher.
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Sun Aug 21, 2016
Invstnlfp answered:
I am licensed to write mortgages in 31 states, I work for a 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. 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 902687
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Tue Apr 21, 2015
Ernie Behrle answered:
I have always felt tha school reports as shown on these sites are at best..inaccurate. Problem also lies within the schools themselves. For example, here in NC, schools are on county systems. If you go into the Wake County school district where I live, they tell you right on line that reports are as much as two years old and to contact each school being considered for additional info. Very hard to get accurate data on individual schools. ... more
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Sat Jan 17, 2015
Jame Perry answered:
This is a common practice in the Banking Finance world. Banks who sell mortgages will bundle them together and offer them as a commodity on the market for investment purposes to other institutions. This may happen quickly after your loan is on place or months later. The mortgage you signed is still valid and in place...the policy is just transferred to another entity. Have you taken any steps to prevent your foreclosure from continuing?? Such as contacting your lender, talking to a non-profit advocate to prevent foreclosures, or reaching out to a professional Realtor to get your home on the market and sold before you are foreclosed? ... more
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Tue Aug 19, 2014
dezmcelheny answered:
Are you serious?! A seller can not list their own home? Zillow lets you!
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Thu Sep 26, 2013
Rebeccatrulia answered:
Hi Elizabeth

I have a reverse mortgage. You can ask any question from reverse mortgage direct. They are very helpful.
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Wed Sep 11, 2013
Nick Sakalis answered:
Ask a Realtor to run you the statistics. It would be your most accurate source.
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Mon Jun 3, 2013
Jason Lash answered:
My last listing in Forest Hills lasted 2 days.

I know the average market time is a couple of months, but the good ones that are marketed aggressively are selling MUCH faster than the average market time.

Forest Hills is in high demand.

Jason Lash
The Lash Group
Prudential Preferred Realtors
Office( 616) 447-7045
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Tue Mar 12, 2013
A. Edwards answered:
My business partner and I specialize in tough loans. We hear stories just like yours almost daily as we find many tough-rush-'save the day' loans funnel our way. We'd be happy to take a look at your situation and in so doing we can provide you with a solid "yes/no" within an hour. ... more
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Mon Feb 18, 2013
Slk8981 answered:
Wed Oct 17, 2012
Christopher Pagli answered:
Hi, You should look at the past 6 months sales in that immediate area and couple that with what you feel the home is worth. Make sure the homes are similar to the home you are making an offer on... ... more
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Wed Jun 30, 2010
Kent Brumm answered:
Hi Chaz,

A real estate attorney is your best bet. However, they are ridiculously expensive. I recommend a life events legal plan with Prepaid Legal. It is month to month with no contract. You get unlimited phone consultation on any matters. The Michigan provider law firm is located in Troy MI. They have attorneys covering all areas of law including real estate.
I have had the service for one year know and would not be without it. If you don't know your rights you don't have any.

Contact me and I will tell you how to get the service. If you want to get the service for one month and cancel. That is what I tell people, then they use it and cannot imagine being without it.

Best of luck!

Kent Brumm

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Tue Aug 18, 2009
Daniel Kenna answered:
Fha would never take that long 30-45 days at most. Without knowing all the details you might want to use a combination as long as you gift her with your heloc more than 20% down you might be able to do it using a conventional loan. ... more
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Wed Apr 1, 2009
Debra (Debbie) Rose answered:
Well, here we go are new....just so you know, self promotion isn't allowed in this Q&A section. You are free to write a blog to advertise your sevices, or become a trulia Pro and promote yourself that way.

If confused about what is and isn't alowed , just take a minute to read the community guildines below which will clairfy it for you.
Welcome to trulia!
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Tue Oct 28, 2008
Scott Godzyk answered:
the seller has to join the credit bureau and they pay to report positive or negative to them. most sellers do not belong to the credit bureau and your payments good or bad are not reported, you can ask him to join and offer to pay if he balks. good luck working it out, hopefully he will agree. ... more
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