Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Mount Arlington : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying2
  • Home Selling0
  • Market Conditions0

Activity 7
Wed Oct 21, 2015
We've got a company we work with closely that helps folks improve their credit prior to buying a home.

As loan officers, we know just enough to be dangerous when it comes to improving credit scores, and some of us even have access to tools that will help simulate how certain actions will impact a credit score. But the truth is, none of us have the time to diligently follow up on your behalf to make sure you're following the program. In most cases we give you a copy of your credit report and some suggestions then send you on your merry way in hopes that you'll come back ready in a few months. And as the saying goes, you can lead a horse to water but you can't make him drink.

These guys are crossfit trainers for your credit. Within 2-4 months they generally turn at least 50% of folks who'd have no hope of getting financed into approvable borrowers. Give them 6-12 months and should be no problem.

If you'd like me to put you in touch let me know.

Tony Grech
Sr. Mortgage Loan Originator – NMLS #977416
Luxury Mortgage Corp
29200 Northwestern Highway, Suite 300
Southfield, MI 48034
Mobile: 313-622-7383 | Direct: 248-714-4914 | Fax: 248-415-1522
... more
0 votes 2 answers Share Flag
Thu Dec 13, 2012
Corey Grushin answered:
Rita if your loan was chosen for the internal audit it can take a while. USDA usually reveiws each loan and let's their computer underwriting system go thrugh the file,but every so often files are pulled to have a manual underwrite which will elongate the process.

Ask your morggae company if their file is under a manual reveiw by USDA to see if this is the case.
... more
0 votes 1 answer Share Flag
Mon Dec 10, 2012
Simon Campbell answered:
If you are selling the property through a short sale or foreclosure, renting it back is not an option. Every short sale regardless of lender requires the "arms-length transaction" certification that has wording like below:

"The Buyers and Sellers nor their Agents have any agreements written or implied that will allow the Seller to remain in the property as renters or regain ownership of said property at any time after the execution of this short sale transaction. None of the parties shall receive any proceeds from this transaction except the sales commission."

There are certain programs which allow homeowners to stay in home and either rent or buy back. A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

Simon Campbell -
... more
0 votes 5 answers Share Flag
Tue Mar 27, 2012
Corey Grushin answered:
I just spoke with with the USDA office that is underwriting all New Jersey USDA loan applications. Underwriting tuen times are running 72 hours after receiptof complete loan file.
0 votes 3 answers Share Flag
Mon Mar 5, 2012
Usda Mortgage Source answered:
Generally closing time is 45 days from the time of contract. Times can also depend on volume on the state/county level. Please visit for more information ... more
1 vote 6 answers Share Flag
Wed Nov 23, 2011
Terry Bell answered:
This is where it is important to have a good agent that you have been looking at homes together for a while, and building a relationship of trust. There are many issues to consider when making an offer, and by working with the same agent, you have gotten to know what you are looking for, you have gotten to know what are good prices, and your agent has gotten to know what you can afford and your limits. Your agent should be researching properties you like to see if there have been other offers, how long it's been on the market, what type of sale it is, whether the seller's are motivated.... Then your agent needs to do some comps to see what similar homes have actually sold for. If there are no other offers and the home has been on the market for a long time, then you can discuss a low ball offer with your agent and see what your agent thinks will be justifiable by comps, and then go for it! Good Luck! ... more
0 votes 8 answers Share Flag
Search Advice
Home Buying in Mount Arlington Zip Codes