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General Area in Southfield : Real Estate Advice

  • All250
  • Local Info10
  • Home Buying112
  • Home Selling3
  • Market Conditions5

Activity 4
Wed Jun 6, 2012
voice member answered:
It depends on several variables, condition of home, time listed, motivation of seller. If I were you I would investigate all the above mentioned variables. A well prepared and informed buyer usually can obtain a better price than the unprepared buyer. In school when you did your homework you usually obtained a lot better grade, so I would encourage you to do your homework, with sites like Trulia to give you a baseline of pricing. can give you some very pertinent information(background into the listing date, time on market and in some cases the condition of the property). ... more
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Wed Jun 6, 2012
voice member answered:
I work with several banks and Mortgage companies and it will vary, but if you are looking to minimize your down-payment i would say 580-600 would be the minimum for FHA Loans. If you need more information please feel free to contact you and we can go over it in more details. MSHDA has programs to reduce your down payment if you are a first time home buyer. ... more
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Wed Jun 6, 2012
voice member answered:
This is a great little community with access to all types of shops, I have a close personal friend that lives in the complex. I will get you some information on the condo's in Cornerstone. Do you have a preference to a 2 bed 2 bath unit or 3 bed 2 bath. The 2 bed, 2 bath units are the better layout. We are a Southfield based real estate Company that would love to assist you in obtaining one of these condos. ... more
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Thu Dec 4, 2008
Yes Cangie you normally do need to become delinquent to be considered for a loan modification. Why? Because why would a lender agree to take LESS money when you're already paying them? They're a bank remember. Besides, lender's hands are full already dealing with people who have already demonstrated hardship. If someone is still making their mortgage payments (they don't care about the lengths you have to go through to do it) then the bank has bigger fish to fry. A bank is not going to willingly take less money unless the only alternative is a more expensve foreclosure.

That's simply the way it works and if you have a decision to make between preserving your credit and being able to make your mortgage payment then I guess you have to make the best decision for you personally.

As far as refinance, FHA is probably going to be your best options but the house still will need to appraise high enough.

I dont mean to come off as harsh. It sounds like you're in a tough situation and I hope I've provided at least a little insight. Keep your head up and do what you need to do. Best of luck
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