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Summerville : Real Estate Advice

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  • Home Buying3
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Activity 9
Sun Sep 11, 2016
Karen Peyton answered:
I think you need a new lender. It sounds you have been approved for an FHA loan which requires the 3.5% down payment you mention. The problem of course is you don't have it. You need $5,250 "down" PLUS your closing costs. Did you actually speak with someone??? You can have a down payment "gifted" according to FHA guidelines and ask the Seller to pay for your closing costs. Was any of this discussed???

Maybe a new lender who will consider your situation and offer solutions is in order.

Good luck!
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Wed Jun 8, 2016
Bfinster5 asked:
Sat Nov 29, 2014
c.always79 asked:
Mon Apr 7, 2014
Teresa Hogg answered:
Floyd Medical Center in Rome Georgia.
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Mon Jan 13, 2014
Aaron and Cheree Tiry answered:
I would suggest contacting your local police department. They should have this information for you. Realtors don't have access to this information.
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Wed Jul 6, 2011
Emily Erekuff answered:
Hi John,

It appears that this property was for sale on our site at one time and that the listing information was provided to us by

Please let us know if you have any other questions.

Best Wishes,

Emily Erekuff
Community Moderator
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Mon Jul 4, 2011
Shane Milne answered:
What property are you referring to? Without knowing the property, you are going to get somewhat aimless answers.

Unless the seller is offering owner financing, or imposes their own requirement, the seller typically has nothing to do with how much of a down payment you would need.

Summerville is in an area that is eligible for USDA financing, so it's possible that you could purchase without any down payment as long as your household income isn't too much. You can check eligible areas and income limits for USDA financing at - USDA financing is 100% financing in rural areas/communities, you can even include the closing costs into the new loan amount if the home appraises for enough over the sales price, and there is currently no monthly mortgage insurance so the overall payments are cheaper than with an FHA loan.
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Sun Jul 3, 2011
Ann-Marie Bailey answered:
Hope my contribution is not too late...just seeing your question.

Foreclosue sale date is 1st Tuesday of each month throughout Georgia, on respective County Courthouse steps, starting at 10AM. Most attorneys handling a sale will disclose the BID AMOUNT ahead of sale and some even post this info on their websites. Call the attny's office, even early morning on day of sale and try to get this info. Decide the absolute maximum you would be willing to spend on this property then go to your bank and get certified funds; one for bid amount plus several others in various smaller denominations, to get as close as possible to final bid amount. Attnys will also take cash for all of sale amount or a combination of cash/certified checks. They will mail you any overage should you not have exact change for bid you won.

MOST IMPORTANTLY: Verify property info ahead of sale!!! Be sure that the FIRST MORGAGE HOLDER is the bank foreclosing!!! If you buy that HELOC and there's an existing first mortg, now own that first! Also verify any property taxes or IRS tax liens owed, water bill (these can be large also)...avoid surprises. Secondary liens such as 2nd loan HELOC and HOA dues will fall off with foreclosure sale.

Good luck!

CEO, Smart Homes Investment Properties, Inc.

Licensed Real Estate Consultant, Solid Source Realty GA

Office 770475.1130 Ext. 4690

Cell: 678.457.8684

E-Fax: 1.888.515.4801


BlackBerry Email:


Offering 5% coop to selling brokers...see 5140 Galleon Crossing in Decatur, MLS#3089801/FMLS #4244323
Wholesale prices to Investors/Homebuyers...Buy & Hold...BUILD YOUR WEALTH!!!
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