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60173 : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 4
Thu Mar 17, 2016
Felix Philip asked:
What are the costs involved?
X = mortgage
Y = Insurance
Z = Tax
Is there anything else i should consider?
0 votes 0 Answers Share Flag
Tue Feb 26, 2013
A co-signer typically only helps if you are having trouble qualifying on your income. It doesn't normally help with regards to lower credit scores.

Were you declined because your middle credit scores were only 640 or based off of the collections? If it was simply due to scores then check around because although a lot of lenders require all borrowers to have middle credit scores above 660, there are some out there that will still go down lower than that.

If you were declined by FHA's underwriting system then that is likely due to the timeshare and you will probably have to pay that off. An installment debt, especially housing related like a timeshare, is looked at much more seriously than a medical bill.

At any rate I would check around with a couple local reputable lenders and get a second opinion and some insight into exactly why you werent able to get preapproved.

Best of luck!
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Sat Feb 4, 2012
Martin Foster answered:
Only deal locally and don't fall for "scammers". I am a Certified Distressed Property Expert check on I successfully market and negotiate short sales on a daily basis helping homeowners avoid foreclosure. I have a 100% success rate and my turnaround is under 3 months total. Even if you don't interview me, please make sure you ask the right questions to agents you interview. (630) 429-4486.

Martin Foster
Weichert Realtors, Goodchild Homes
1440 Hicks Rd., Suite#200
Rolling Meadows, IL 60008
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Fri Apr 2, 2010
Scott Godzyk answered:
The seller is not obligated to answer or respond to any offer, it is silly as they have an interested buyer and should at leats counter iwth their best offer. As for you buying, you need to assess what the property is worth in todays market and not base your offers on asking prices. A good buyer broker can provide you with a broker price opinion to tell you the market value of the property. You do not know if the sellers price is at market value already or way below and is already a deal or way to high. At this point if you are not getting an aswer i would move in. good luck with your home search ... more
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