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Home Buying in Lincoln Park : Real Estate Advice

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  • Local Info5
  • Home Buying21
  • Home Selling1
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Activity 34
Mon Jun 5, 2017
asked:
I am the City Attorney for Lincoln Park. This house is owned fee simple by a senior citizen who owes no mortgage, taxes or assessments. It is wrongly placed on your website. Please respond…
0 votes 0 Answers Share Flag
Sat Dec 5, 2015
Garygrayufc123 asked:
Fri Jan 24, 2014
Sam Abdallah answered:
Elizabeth, I'd be more than happy to help you with this. Please feel free to contact me at habdallah@realestateone.com or call my office 313 565 3200. I have dealt with many land contract buyers in the past and continue to do so. Please get in touch at your earliest convenience. ... more
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Thu Dec 12, 2013
Don Tepper answered:
Thu Dec 12, 2013
Don Tepper answered:
Here's a link to a blog I wrote on how to find rent-to-own and lease-option properties: http://bit.ly/findaleaseoption

In your area of the country, also look for land contracts. They're slightly different, but accomplish the same thing as, lease-options.

Hope that helps.
... more
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Thu Dec 12, 2013
Robert Bergman answered:
I have a home in Dearborn that my client will do a land contract or lease to own. The home has been completely redone and is move in ready right now. Let me know if your interested in taking a look or if you would like more information.

Robert
Rjbergman1@hotmail.com

734-783-0900
Www.yourhomeinmichigan.com

REMAX Masters Inc.
... more
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Thu Dec 12, 2013
Don Tepper answered:
Here's a link to a blog I wrote on how to find rent-to-own homes and land contracts: http://bit.ly/findaleaseoption

Hope that helps.
0 votes 2 answers Share Flag
Thu Dec 12, 2013
Andy Hargreaves answered:
Candice --

As stated previously, you should concentrate more on building up your credit score more than buying a home.

You should be able to work with a lender that will give you guidance on how to do so by paying down or eliminating whatever items are causing your score to be down. Sometimes it can be some very simple things to rebuild, but that's the true need for you right now.

I understand that you want to buy to build equity and you may not like the process of having to pay off old or bad debt, but the reality is you will never be able to buy with a score that low.
... more
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Wed Aug 21, 2013
James Deskins answered:
Do not watch anything on cable t.v.. Dead serious.
0 votes 7 answers Share Flag
Wed Jul 24, 2013
Carla Morris answered:
Feel free to contact me, Im an Agent at Source Realty, Allen Park. I can locate L.C listings in my system and would be happy to show you what I came up with. Email me at Carlamorris13@yahoo.com or call 313 769-6511. ... more
1 vote 1 answer Share Flag
Tue Jul 16, 2013
Haig Istamboulian answered:
Hello,

I would call a lender you would like to deal with, maybe even use one at your current bank or credit union since you already have a relationship with them. Go meet with them, submit all the documents that they ask for and have them determine what they are going to need from you.

They will let you know what issues you will need to resolve and what you will need to do to improve your credit score in order to qualify for a mortgage. Work with your mortgage rep and get your credit scores up over the course of the next few months and situate yourself to buy a home in the near future.

That is the best thing you can do.

Good Luck,

HAIG
(248) 379-6547
realtorhaig@aol.com
... more
0 votes 2 answers Share Flag
Sun May 19, 2013
James Potter answered:
The simple answer is yes. If your property goes through a foreclosure your lender will then have the home sold at a sheriff sale. When the home is sold there is usually a shortage or "defiency" that occurs and the lender is not made whole or the mortgage is not completely paid in full. Your lender then has the right to collect this shortage from you. It can be in the form of a wage garnishment, bank garnishment, etc. Typically the lender assumes you have no money or you would have paid your mortgage so they usually do not do this though it is their right. However, there will most likely be a judgment against you that will cause you issue in the future when getting a new loan or credit card or car ins. Typically the best thing to do is to ask your lender if they have any foreclosure alternatives. A short sale in which the lender agrees t o take a lesser amount as a pay off or possibly the ability to sign the home over to the lender as settlement of the mortgage, also known as a deed-in-lieu.
Jim Potter
419-261-8600
... more
0 votes 3 answers Share Flag
Wed May 8, 2013
Jeff Gushman answered:
Hi Geovanni,

Feel free to drop me an email. I would be happy to help you with your home search for land contracts. My contact information is below.

Jeff Gushman
RE/MAX Home Sale Services
JeffGushman@remax.net
... more
0 votes 1 answer Share Flag
Mon Jan 28, 2013
mks49270 asked:
--
This question was asked from this property: http://www.trulia.com/property/3105320941-1465-Stewart-Ave-Lincoln-Park-MI-48146
0 votes 0 Answers Share Flag
Thu Jan 24, 2013
Atallah54 asked:
Fri Jan 4, 2013
Sonya Loose answered:
Unfortunately once Sheriff Sale has taken place your options are limited. You can redeem the house within a 6 month time period from the date of the sale by paying the mortgage off in full, including fees and penalties. This is generally quite tough because your credit is already damaged and you won't find a lender to finance you. I wish you luck in 2013! ... more
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Mon Dec 3, 2012
Phil Rotondo answered:
Estimated Total Contract Value.
Please advise the address of the house.
1 vote 1 answer Share Flag
Wed Jun 20, 2012
Madhu Oberoi answered:
Hello Francesca,

I can find you some homes that will accept a land contract. Please send me your email address and I will mail you a list of properties.

The amount of down payment, interest rate and payment terms have to be negotiated between you and the seller. Since this is a private contract and does not involve a bank or a mortgage company the interest rate can be higher to cover the risk of the seller.

I will send you a list of properties that meet your criteria to start with and then you can discuss the terms once we find you a property that meets your needs. Please send me your email and what you are looking for- no. of bedrooms etc.

Madhu Oberoi, Realtor
Real Estate One
West Bloomfield, Mi. 48322
248-875-6739
madhuoberoi@realestteone.com
... more
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