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Home Buying in Northdale : Real Estate Advice

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Activity 31
Fri Mar 31, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

Your question is cutoff but if the bankruptcy was in 2012 it should not impact your ability to get a mortgage.

We have a lot of programs that are easy to qualify for.

If you have any other questions or would like help with this you are welcome to get in touch with me.
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0 votes 2 answers Share Flag
Thu May 12, 2016
Jimmycruz2002 asked:
Thu Feb 11, 2016
Ann Ryan answered:
Try Grant Simon
grant.simon@waterstonemortgage.com

He's near Orlando, but really a lender can be anywhere in the country.
0 votes 1 answer Share Flag
Wed Feb 4, 2015
Jim answered:
Watch out the guy named Ricard - EI Bey.
He is a fraud. He cannot get you any loan at all. What he does is cheat your money for appraisal which he will never done. Once if he got the money, he will not answer your phone or email anymore. You can search at Georgia License website, he does not have license at all. Just a fraud. ... more
1 vote 7 answers Share Flag
Thu Nov 27, 2014
Simon Campbell answered:
In my experience, lenders only consider the income at the time of application. Future income is never guaranteed - that is unless you have an employment contract. In that case, with a signed contract from your employer, it is possible the lender MAY consider future income - but don't hold your breath. ... more
0 votes 1 answer Share Flag
Wed May 7, 2014
Alma Kee answered:
Dear James,

It's crucial to hire a highly experienced inspector to see if there are any visible signs of subsidence.

One of my clients was saved a lot of problems when a very experienced inspector was able to identify clues that may indicate a soil sinking problem. This was on a Westchase house and typically in Westchase we don't have a high incidents of sinkholes. Out in Pasco County you will find a more prevalent problem with sinkholes.

Here's the very detailed, highly qualified Inspector that helped my clients avoid buying the wrong house:

John Astl, Avail-A-Pro Home Inspection Services, Inc.813) 972-5206 http://www.availapro.com/

This same inspector also helped another client that was purchasing a 9 year old house. The roofing structure was installled incorrectly and fortunatelly for the Sellers they were still within the 10 year structural warranty. The ceiling had to be opened up and the whole support structure had to be re-engineered! Was probably a $50k repair job! These Sellers did not hire a home inspection when they bought the house from the builder brand new. They thought they could rely on the county inspectors. It's crucial to get a home inspection, even on a brand new built property.

I also bought a house in Waterchase that was in the process of being built. My home inspector went out and discovered the builder had actually used a deteriorated, warped Truss!

Hope this helps.

All the best,
Alma Kee
Sold On Tampa Team
813.244.9898
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0 votes 2 answers Share Flag
Wed Jan 8, 2014
Bill Eckler answered:
A. Wit,

I would encourage you to consider renting month-to-month for a period to allow yourself some time to get a good feel for what area(s) will best meet your needs.

The average home owner is Florida sells every 5-6 years. There are a number of reasons for this. One being that many northerners coming down settle into the first place they see with sunshine, warmth, nearby water, and palm trees......in a relatively short period people find the right and perfect location in another area.

We would be happy to hear from you and help you process this important life decision.

Best regards,

Bill Eckler
billeckler@michaelsaunders.com
941-408-5363
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2 votes 3 answers Share Flag
Fri Jan 3, 2014
Alma Kee answered:
Hi,

I can help you with this if you're not already working with a Realtor. Has your Realtor already shown you this property? If so, have your Realtor do the homework for you asap! The auction is ending in just over 4 hours! The current high bid is $34k but the minimum "reserve" price is not yet met.

I have a lot of experience with these type of REO auction properties so if you're not working with a Realtor, call me and I can dig out a lot of the crucial info you need before bidding.

There is no disadvantage to you to get the help of a Realtor and you can even bid directly and name your Realtor. Your Realtor will get paid the typical Realtor fee.

So again, if you don't already have a Realtor to do the investigative work, let me know and I'll get you a lot of info about this property before you bid.

Call or me asap, the auction ends in just over 4 hours. Again, if you're working with a Realtor already, call your Realtor to get this info asap. It's crucial to see the condition "in person" or at a minimum a Realtor opinion of the smells, etc.

Let me know if you want my help.

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
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0 votes 1 answer Share Flag
Tue Nov 12, 2013
Richard- El Bey answered:
Foreign National Loans

Borrowers using TIN Okay
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Foreign Nationals {Expatriate}- NO PASSPORT {Must have valid work visa or 30% Down}
70% LTV Purchases
65% LTV Rate & Term Refinance
50% LTV Cash Out {Possible higher if financials are up to par}
Multiple properties OKAY
Corporation purchasing and refinancing OKAY

Richard- El Bey
Avarice Investments
(706) 399-7813 cell
(678) 752-8062 Office
thegocp@gmail.com
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0 votes 2 answers Share Flag
Tue Oct 15, 2013
Irina Karan answered:
Banks look at 2 past years and current YTD in net income for self-employed individuals.
The current year should be equal to the previous year or better - in income, or the lower of 3 years will be counted as income.

Usually, it is 2 full years.

Have your loan officer to check with another lender about your switching in the same industry -
it may not be an issue.

Hope for your sake 6K per month was net, not gross income...because banks only look at the net income.

Some deductions could be added back - so I'd look for a 2nd and 3rd opinion - to make sure
you get the best info.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
Miami, FL
IrinaKaran@gmail.com
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0 votes 7 answers Share Flag
Wed Jun 26, 2013
Rhonda Augustine answered:
Hi Rama,
Thankfully, you have good inspectors who are doing their jobs well and earning their fees. You are much better off spending a little up front to avoid a headache down the road. ... more
0 votes 7 answers Share Flag
Sat May 11, 2013
theresa56 answered:
What if a short sale contract does not say "as is" anywhere on contract
0 votes 13 answers Share Flag
Wed Mar 20, 2013
Lisa Reeves answered:
Depending on how long you have had your income and what type of income it is will determine if a lender considers all of it. If some of your income is based on your income property - you will have to show a two year rental history on your tax return. The biggest problem is that you have no down payment. Unless you are purchasing in a rural area or are a previous veteran you will need a minimum of 3.5%-5% of the purchase price plus any closing costs that you can't get as seller concessions. So total down payment and closing costs would be around 6-8%

Based upon your income and using a general number of 31% towards your housing debt ratio - you could afford about 1800 a month in a house payment. As a rough estimate - $250K home. However you will want 15K-20K in the bank to start this process. You can use other sources besides savings to help with your down payment. Contact me if I can answer any other questions.
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0 votes 3 answers Share Flag
Tue Mar 5, 2013
Ann Ryan answered:
Interesting, because the market is voting now... and in most place prices are increasing. If you can find a distressed property that has $100 per square foot, I suggest you buy it now... because I doubt it will last long.

Right now I'm hearing a lot of news media reporting that goes along the lines of "Is now the time to buy?" When I hear that, I know that the time to buy was last year, and that people are already paying higher prices. There's a significant lag between economic trends are reporting.
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0 votes 3 answers Share Flag
Wed Apr 25, 2012
Lisa Reeves answered:
Since this is a cash only complex - ROI is over 20 and the more commonly used CAP rate averages over 15. This is a good investment. Unknown are special assessments which could distinctly change these numbers. But using standard apartment calculations 1/1's should be bought under 30K and 2/2's under 45K in class B- ... more
1 vote 1 answer Share Flag
Sat Oct 8, 2011
Alan May answered:
I'm gonna guess that this post will get you more calls than you were looking for. Good luck.
0 votes 9 answers Share Flag
Fri Apr 1, 2011
Alma Kee answered:
If you find a VA owned foreclosed home (not any available right now in Tampa), there is VA Vendee financing that would allow zero down even if you are not a Veteran.

Also as mentioned earlier if you and the property qualifies, there is the USDA mortgage with zero down required.

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty, Inc.
13045 W Linebaugh Ave
Tampa, FL 33626
813.244.9898
PS you're welcome to sign up for a free listingbook account on my website.
... more
0 votes 14 answers Share Flag
Thu Mar 10, 2011
Debra B Albert PA answered:
IF you are qualified for a loan and you make changes, you will need to be requalified.

Think about it, your mortgage qualification is a snapshot in time. If there are changes good or bad after that, it will show up. Time on your job is a factor. Maybe you should ask this question to your lender and get their best advise. After all, your new job could be a promotion!

Debbie Albert, PA
Keller Williams of the Treasure Coast
... more
0 votes 8 answers Share Flag
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