Hello Lele, this is a legal question so you should consult with a free legal advice service which is the Inland Mediation Board and they can advise you. Keep us posted as to what they say and your outcome. Here is a brochure.
You should study RENT vs BUY options as you may qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.
The rentals in Santa Monica start from $1,200 for 1bd 1ba condo and up. The purchase start from 388k for 1bd 1ba condo which is as low as $1,950 down payment with a minimum 580 fico score.
If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.
You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.
You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score.
It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
If my response was helpful, consider clicking Thank, Link or Best Answer.... more
The is more to appraising property than using the comparison market analasis method. Location is important and Santa Monica is a great location. Condition of the house is important. Square footage of both the improvement and land also helps to answer your questlion. Please contact me and I will give you a FREE Market ANALYSIS Telephone: 310-310-2502... more
The information you request is available online from the City of Santa Monica. Please go to http://www.smgov.net/Departments/HED/Housing_and_Redevelopment/Housing/Housing_Division.aspx and scroll down to the section Housing Authority
Housing Choice Voucher Program (HCV)/Section 8 and that should get you on your way.
The SoCal Investment Real Estate Group
Sothebyâ€™s International Realty
License # - 01343854
The great thing in the world is not so much where we stand as in what direction we are moving. ~Oliver Wendell Holmes... more
No, don't send any money until you see the apartment and you sign a lease agreement. You can also check in public records his name against the owner of property. You may also check if he is current with his loan or if he's gone into foreclosure. I've seen owners in default rent their property, collect rent and don't pay the mortgage and you may be asked to leave. If you'd additional help, please let me know.