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Home Buying in Monmouth County : Real Estate Advice

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  • Local Info1
  • Home Buying34
  • Home Selling5
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Activity 648
Wed Oct 28, 2015
Tony Grech answered:
What is your question Gary? It's filed under the "home buying " category, so the assumption would be you are looking to buy another home but your current one is underwater??

But the wording in your question (disclosing the current rate and that it's not Fannie or Freddie) would imply that you would like to refinance to a lower rate. It's not HARP eligible, but if it's an FHA loan you can do a streamline refinance without regards to the appraised value of the home.

If it's not FHA, and if the mortgage is under water then you'd need to bring money to the closing table to either refinance to a lower rate or to sell the home.

If buying a new home is what you're looking to do, then aside from selling your current home, you could seek to rent it out until values rise enough or until you've paid the balance down til you are no longer under water. In order to do this though, you'd need to be able to qualify for both the current mortgage AND the prospective new mortgage.

Hope this helps. If not, please specify your question more!
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Mon Oct 26, 2015
Karen Peyton answered:
Contact the city or county planning and zoning department. The should be able to provide the current zoning easily, and direct you further on how to obtain the plans.
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Wed Oct 21, 2015
leahb750 answered:
Middletown Township is very large and broken up into smaller sections, which New Monmouth is one of them. The township has two separate high schools (HS North and HS South), and there are varying opinions on both. There are also several different elementary/middle schools. Students typically attend the school based on what part of the township they live in. Little Silver has its own elementary and middle school and students typically attend Red Bank Regional HS.

This website has information on different schools throughout NJ: http://www.nj.gov/education/pr/1314/nav/county/25/index.html

In my opinion, Little Silver has a more small town vibe in comparison to Middletown, however, both are very active communities.

Best wishes with your search!
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Thu Oct 15, 2015
Gwen5 asked:
2 Nolan Rd., Allentown, NJ 08501
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Sat Oct 10, 2015
thinz answered:
Yes you could qualify. I would try contacting Lars Ruggles at:
Advisors Mortgage Group, LLC, in Shrewsbury
Office (732) 778-3880 Mobile (732) 778-3880

If you need more names of good mortgage originators let me know at: thinz@shortsaletosell.com

Good luck.
Tom HInz
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Mon Sep 28, 2015
Tjohnson129 answered:
Can I fine out the value of my home in January 2012. 1440 W 89th Street, Los Angeles, CA 90047.
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Thu Sep 17, 2015
thinz answered:
Terry - if you go on the Monmouth county records site and search for LIS PENDENS status for mortgages in Sea Girt for the past 90 days, only 1 record appears...I believe there are more, but this site will only let you search the past 90 days for some reason.
Tom Hinz www.shortsaletosell.com

PS - to get to the link to check, go to:

http://oprs.co.monmouth.nj.us/Oprs/clerk/ClerkHome.aspx?op=basic
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Thu Sep 17, 2015
thinz answered:
I have always found it better to mortgage the primary because the loan interest is always deductible up to my loan indebtedness (plus 100K over the loan indebtedness if you take out an equity line...). With the rentals, depending on your tax scenario and depreciation requirements, you will more likely capture more of your interest and other deductions when you sell the income property. Your cpa can fill you in on the specifics for your case...
Tom Hinz www.shortsaletosell.com
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Mon Sep 14, 2015
Frank Gilligan answered:
07748

RE/MAX Elite
Frank Gilligan
Office 732-870-6300
Please call my cell 732-539-8668
frankgilligan@comcast.net
27 Beach Road, Suite 4
Monmouth Beach NJ 07750
Licensed sales Representative
32+ Years of Full Time Experience
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Mon Aug 31, 2015
Steven Cohen answered:
No they are not trailer homes. They are however prefab homes. They are actually very nice and good starter homes
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Fri Aug 21, 2015
Kathleen "Katie" Gay answered:
School will vary depending on the exact address of the property in Locust. Best to check with the agent you are currently working with.
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Tue Aug 11, 2015
Tony Grech answered:
For conventional loans a 10% down payment is required for 2nd/vacation homes.

If the home will be rented out or is very close in proximity to the primary residence, then investment property guidelines apply and you'd need 20-25% down ... more
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Sat Aug 8, 2015
thinz answered:
Haven't heard of any dumps that were healthy. I think if I lived near one I'd be wearing an oxygen mask 24/7 just to be safe. Yes it affects values big time... foreclosures however may not be related given all the new condo/home buying that occurred in the 90's and Helocs that were processed for fancy stuff. But having a dump very close could seriously affect resales by the lender or even short sale purchases. Could be more of an opportunity for investors to buy and rent...but the banks are not discounting the foreclosures in the area like they did several years ago. Tom Hinz www.shortsaletosell.com ... more
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Fri Jul 24, 2015
Lee Brewer answered:
Commuting details:
The Colts Glen, Fox Hills and Oak Hill sections of Middletown are all easy commutes to NYC. All are within 2 miles of the train station. Colts Glen is not walkable, the other 2 are and have sidewalks. The train to Penn Station NYC is 1 hr express. The exit 114 GSP to Tpke is 1-1/2 hr or less drive normally. The Belford Ferry is 45 minutes to NYC plus a 10-minute drive to the pier. Exit 114 to the base of Brooklyn Bridge is 1-1/2 to 2 hr. normal. If you are driving subtract 10 minutes using exit 117 and buying in Keyport-Hazlet Area. If you want bus commute, then buy Oak Hill or Lincroft areas - add 15 minutes longer than train plus 10 minutes drive to parking lot. ... more
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Mon Jul 13, 2015
thinz answered:
Basically, amenities are "nice to have" features/upgrades/etc included with the home...
Enjoy in your search for your target home! Tom Hinz www.shortsaletosell.com
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Wed Jul 1, 2015
thinz answered:
I've worked with many lenders and would not say it's unanimous...its subjective based on who someone knows and does business with. Choosing a lender for most people is approached the obvious way - a referral from someone and then you get into the process. More important is to look at a wider net of rating of the company, and unanimous based on a nationwide review of a company.
Why? Because, the parents companies are most likely not in NJ, and your loan officer will not be much help after you close. So you need to do more due diligence than what you get here. For example, here is a link to reviews for mortgage lenders that may be helpful...this is not an end all, but you need to look beyond what you get here so you make the best decision.
Wells Fargo has been good in the past and their health as a company is good, but there are other contenders out there to look at that I believe are as good or better.

Here is a link to get you started. http://refinance-mortgage-review.toptenreviews.com/

Good luck. Tom Hinz http://www.shortsaletosell.com
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Wed Jul 1, 2015
thinz answered:
Possibly, but that will be on an individual basis. Best bet is to call places you are interested in to check. You could also check to see if renting from an owner who meets the age requirement will be an option. Good luck.

Tom Hinz www.shortsaletosell.com
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Wed Jun 24, 2015
thinz answered:
What people need to realize is that any home that is for rent is a candidate for asking the owner if they'd be interested in selling, or doing a rent w option to buy. If listed by a mgmt. co or realtor, they should know...if listed by the owner directly, I would ask them. Many times, the best time to ask if after you've proven you are a good payer on your rent. Once the owner knows you pay on time, and also experiences the normal issues with maintaining the property, that is the best time to say: "hey, would you be interested in selling in a couple of years at X price, if I could give you a $5K deposit today?" If yes, then you be very specific for your agreement terms. Tom Hinz www.shortsaletosell.com ... more
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