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Home Buying in Lancaster : Real Estate Advice

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Activity 6
Fri Jun 24, 2016
Jjcarolanbcba answered:
Can someone recommend a loan like the Radiis one mentioned below... In NY?
0 votes 13 answers Share Flag
Sun Feb 14, 2016
Amelia Robinette answered:
no one from trulia will reply to you here. call their customer service to try to determine the source of the listing and get it removed at the source.
0 votes 1 answer Share Flag
Mon Jun 3, 2013
Andrew Adams answered:
You can obtain a conventional Renovation loans. No MI with 20% after improved down.
0 votes 2 answers Share Flag
Sat Aug 4, 2012
answered:
You got preapproved without a job? Wonder why the Feds are beating up on lenders? I hope you have another lender now.

Okay, here’s the scoop from a loan officer that actually reads the guidelines. Portfolio means the lender is using their own money, therefore the Golden Rule applies, “He that has the gold makes the rules.” That means they don’t have to follow standard mortgage guidelines, you didn’t mention what kind of loan you are prequalified for so I am just being general on that issue. But if the lender is using their own money do you think they are going to be more or less liberal in what they do? Less is the answer.

If you are putting 20 or 30% down or more, they might make a portfolio loan on a short term basis. They WILL NOT lend it for 30 years with a low interest rate. What happens if interest rates jump to 9% before you can refinance that loan? Won’t happen? It’s only a matter of time, when, not if….
Ask the seller to wait until your probationary period is over. If you are getting an FHA loan don’t rent the house prior to closing, that will mess up the loan and push back the closing date. Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
... more
0 votes 1 answer Share Flag
Tue Jun 9, 2009
Emmanuel Scanlan answered:
Hello Green,

Lot of good advice below. If there was no indication on the MLS listing, disclosure, etc., then you might have a very good case. Yes you need to speak with an Attorney. If you have any questions regarding the inspection report (if one was performed) feel free to contact me if the Inspector refuses to work with you.

Chris Mabry,

Yes, DON'T FORGET THE INSPECTOR! If it was inspected, and nothing mentioned, it sounds as if this might have been a "Minimalist" Inspector. If he was not aware of the area he should have performed a little research on it. Sounds like Green's area is rural, or at least semi-rural and the Inspector (if one was used) should have expected septic to be there. After all (depending on the system) it is kind of hard to miss that large sand mound in the yard with the pipes sticking up, or the nice lush and green area when everything else pales in comparison.

Emmanuel J. Scanlan
PS Inspection & Property Services LLC
www.psinspection.com
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!
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