My daughter has a foreclosure on her credit. She lives in a pays the mortgage on my home, I live out of state however I pay Michigan state income taxes and still have the address as my mailing address. I want to protect the homestead. If I put her name on the deed but not mortgage can a lein be placed against my home?... more
Since there are other factors involved in determining mortgage qualification, for a personalized answer visit with any licensed loan officer, all else would really be just speculation; be aware that a mortgage pre approval letter is necessary to determine your price range and for any offers to be taken seriously.... more
No Sir, you should have not made your original remark. You should have not responded at all. Your response should have been the delete key. If you do not have any contribution to provide just be SILENT. I will not follow this question anymore since I can not really tell you in this forum what I really want to respond to you with. Oh, now I will answer more old questions and hopefully you will just hit the delete key.
You have good answers here but most importantly is that if you are not experienced in buying property you MOST definitely need to hire a Buyer's agent. A buyers agent works for you and your best interest. This type of agency protects you as a buyer. Georgia is a dual agency state and by that I mean an agent can represent both the buyer and the seller. Now my question for you is this, If you want the best possible price to pay why would you deal with the sellers agent when they already have a contract with the seller to get the highest possible price for their property?
Once you have selected your buyers agent they can assist you with the form of purchase and the type of purchase and the best way to buy.
What does your buyer's agent say? Am a little concern that you are asking in this forum and not consulting your Realtor? If you have a loan contingency and you do not have a commitment from your lender it will be wised to consult your mortgage broker or the financial institution that is processing your loan in order to get a time frame. If you only have three days left on loan contingency it would be wise to extend this contingency to be safe. Your buyers agent should be advising you and monitoring all your contract contingencies. Your Realtor is there to protect your interest as your buyers agent.
always compare apples to apples. If the desk fee is high, maybe the split is good. I would rather pay $600/month desk fee and get 100% of my commission, than pay no desk fee and get 70%.
It boils down to how much money you want to make. Get the highest split, but you may be responsible for your own marketing. MLS statistics that I do every month on the areas that my firm covers, show that it really is a toss up between agents, and not the companies. Between KW, Coldwell Banker, and Sotheby's, they transact 40% of the business, but their agents on average do not out perform their independent peers.
It depends on the properties that the LLC is buying. Ther are plenty of lenders who will lend to an LLC on multi family and commercial properties. The down payment needs to make the deal cash flow. Debt Coverage ratios need to be 115-125.
If you need private money or loans call 800-640-8798,
My investors make deals happen.
Unlike answers to your question, the true answer is the 2nd will and has the legal right to foreclose. Just because their loan is subordinate to the 1st, does not exclude them the right to get their money back through the foreclosure process.
Just because you pay your first and not the second, will not charge off any loans. Only if you go through foreclosure, or file a bankruptcy can a second be charged off.
Remember ,the lender will not be able to come after you for a deficiency in California.
Do not waste your time and money on "audits" They prove nothing, and after 4 years of cases against lenders, they have never lost a case due to an audit.... more
Your family needs to consider doing a short sale, or putting the house on the market. The property will languish in foreclosure for a while. Since there is little income, doing a modification may not make sense.
Once you have listed your property, start looking for another place to live.
There are federal laws that will prohibit a lender from coming after the property, and the IRS will not 1099 you for the difference.
This is the smartest thing you can do right now.... more
You are not responsible for HOA fees after title transfers (your foreclosure. But you are still responsible for the HOA fees while you were still living in the property.
Most likely a collection company is coming after the HOA fees. There are ways to settle fo 10-20 cents on the dollar.... more