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Morada : Real Estate Advice

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  • Home Buying0
  • Home Selling0
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Activity 14
Thu May 4, 2017
Charlinemmoore asked:
WE HAVE A SPECIAL NEED FAMILY TWO ADULTS AND 2 CHILDREN SPECIAL NEED AND 1 SENIOR CITIZEN RETIRED 1 ADULT CARE GIVER 1 OF THE SPECIAL NEED MALE WORKS FOR AIRLINES AND I AM SENIOR WE NEED…
0 votes 0 Answers Share Flag
Sun Oct 20, 2013
Robert Spinosa answered:
Frankie,

Often your lock is associated with the property itself, so if you're saying you locked a rate while you were in contract on a different property, this is something you should discuss with your loan officer.

As for the rate itself, if it is a conforming, 30-year fixed rate loan, the rate is very good and that would not be motivation for me to switch if you're happy with your lender now.

Let me know if you have any questions.

Rob Spinosa
rspinosa@rpm-mtg.com
... more
0 votes 3 answers Share Flag
Wed Dec 5, 2012
Larry G. Williams answered:
KB Homes was the builder. Morrison Homes built house just South of March Ln.
0 votes 1 answer Share Flag
Tue May 31, 2011
Carmen Brodeur, JD answered:
If you do not have some sort of a Homeowner's Association then I would definitely contact the city. If it is bad enough they will most likely do something about it.
0 votes 4 answers Share Flag
Thu Jul 29, 2010
John Juarez answered:
My answer assumes that you are looking at houses that are listed for sale and not those being sold at auction on the courthouse steps.

The asking price on a foreclosure is just that…the asking price. The final price may be more or less or the same. That is true of most real estate sales. You will only be responsible for the price that you agree to pay for the house, not the previous loan.

The above answer is a simplification of a complicated process, and does not apply if you are buying a house at a foreclosure auction.

You need to get together with a local real estate professional and get your questions answered by someone who has had experience helping individuals like you buy houses. If you are a serious buyer, you will find that a Realtor will be glad to spend time answering your questions and helping you to get into the house that meets your needs. Best part…the Realtor’s commission is paid by the seller.

Don’t know a Realtor? Ask for referrals from your friends, family or co-workers. You would be surprised how many people are eager to tell you about their favorite Realtor.
... more
0 votes 2 answers Share Flag
Thu Jul 29, 2010
John Juarez answered:
My answer assumes that you are looking at houses that are listed for sale and not those being sold at auction on the courthouse steps.

The asking price on a foreclosure is just that…the asking price. The final price may be more or less or the same. That is true of most real estate sales. You will only be responsible for the price that you agree to pay for the house, not the previous loan.

The above answer is a simplification of a complicated process, and does not apply if you are buying a house at a foreclosure auction.

You need to get together with a local real estate professional and get your questions answered by someone who has had experience helping individuals like you buy houses. If you are a serious buyer, you will find that a Realtor will be glad to spend time answering your questions and helping you to get into the house that meets your needs. Best part…the Realtor’s commission is paid by the seller.

Don’t know a Realtor? Ask for referrals from your friends, family or co-workers. You would be surprised how many people are eager to tell you about their favorite Realtor.
... more
0 votes 1 answer Share Flag
Tue Jun 8, 2010
Steven Ornellas answered:
Hi Christina,

There's a great side-by-side chart located at http://docs.Steven-Anthony.com/033010ComboTaxCreditChart.pdf that breaks down all the details of both the FED & CA Tax credits.

For example, the FED requires you maintain the property as your primary residence for three years. The State requires 2 years. With the FED tax credit you claim it all in your 2010 taxes. The State tax credit is claimed over the 2010-2012 tax years.

There are many other comparisons on the chart.

Best, Steve
... more
0 votes 3 answers Share Flag
Tue Jun 8, 2010
Steven Ornellas answered:
Hi Christina,

Don has provided you with a clear and correct answer.

To take advantage of the both the CA and FED tax credits a first-time home-buyer must enter into a purchase contract for a principal residence before 5/1/10 (by 4/30/10), and close escrow starting on 5/1/10 and no later than 6/30/10. If this can be done, up to $18,000 in combined tax credits are possible. You can read more about the steps for obtaining these credits via this blog post: http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2010/04/navigating_the_new_ca_and_existing_federal_tax_credit

If you are interested in the CA tax credit do review the "update notes" at the bottom of the post.

Best, Steve
... more
0 votes 4 answers Share Flag
Tue Nov 10, 2009
Dan Chase answered:
If the appraisal comes in higher that what you offered you did a good job.
If the appraisal comes in lower you got to excited.
If the appraisal comes in about the same then you offered about what was expected.

If your offer is more than the appraisal and you had an appraisal contingency then you should either 1 walk away or 2 have the seller drop their price to the appraised value OR LESS. No one should overpay for a house. It is bad enough they are likely to drop even further in value over the next 2-3 years. Overpaying now just makes that feel even worse.
... more
0 votes 4 answers Share Flag
Mon Jan 5, 2009
The Hagley Group answered:
NO. Contact me thru my website and I will send everything you need to do the loann modification yourself...and save yourself money.
0 votes 21 answers Share Flag
Fri Dec 26, 2008
J R answered:
Is this right or is this going to the realtor?

~~~~~~~~~~~~~~~~~~~~~~~~~

I am so glad I am not your realtor.
0 votes 9 answers Share Flag
Sun Aug 3, 2008
Lee Collins answered:
Hi Jess,
I think it is critical that you compare your mortgage options. You should have your mortgage professional show you 2-4 options side by side of different ways to structure this loan.
"Average cost" is very open ended. There are items like pre-pays which are mentioned in the post below, also points, or there is even a way for the mortgage professional to give you a slightly higher rate and the lender can pay all or some of the closing cost.

This should be quick and simple for your mortgage professional to give you a side by side comparison. Depending on the final numbers, you may only need 4-5% from the seller, and it may make sense to take another 1-2% off the price.

Hope this helps.
... more
1 vote 2 answers Share Flag
Mon Jul 21, 2008
Maria Avdalas answered:
I would call Eli at Custom Loans at (916)487-8393. He is a loan broker and has access to several different banks and options. I have worked with him and my clients have all been pleased. ... more
0 votes 4 answers Share Flag
Fri Aug 17, 2007
The Hagley Group answered:
Another idea is to contact a local Realtor and ask for assistance. In addition to helping you with that home, they may also be able to recommend other REO, short sale, or distressed homes that may meet your needs. ... more
1 vote 4 answers Share Flag
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