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Waterford : Real Estate Advice

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  • Local Info7
  • Home Buying37
  • Home Selling4
  • Market Conditions2

Activity 87
Fri Dec 1, 2017
Lunapostmi asked:
I'm currently rebuilding my credit score with a less than stellar car loan interest rate. Put $4K down on a 2015 model, 60 month term (to keep the payment doable for now), at a 15.5%…
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Thu Oct 12, 2017
Tamikia Mcgruder answered:
I get 2000 a month trying to rent due to eviction of a slum Lord having it hard , I need a house for me and my children please it's 6 children and myself my credit shot to he'll due to my identy was stolen , I need help please. ... more
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Tue Aug 22, 2017
Kathy Burgreen answered:
Lenders will verify your bank statements - at the time you request a pre approval, at the time you submit an application for a mortgage loan and finally the day before or the day of you close on a home. If you receive a large cash transfer (deposit) your lender will question it and will ask for proof. You need to understand from the lender's viewpoint, they don't want to accept buyers who deposit large cash amounts which COULD be from illegal activity - drug dealers, fraud, etc. This may not apply to you but this is how lenders think. As long as you can provide proof where the cash deposit came from - your 100% safe. Criminals don't have paperwork to provide proof. ... more
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Wed Jun 29, 2016
Jillian Muldoon answered:
Hi Felicia,
I would be happy to meet with you to see the property and discuss the pros and cons to selling as is, vs. doing the improvements. I can also run a full property valuation analysis so you can get an idea of what the property might sell for as is, and how much more it may sell for if upgrades are done. It is difficult to answer your questions without seeing the property and being able to pull comps. Generally the more move in ready a property is, the more buyers it will appeal to. However with the way the market is currently, most homes that are appropriately priced are selling pretty quickly. Sometimes updating a kitchen or bathrooms can go a long way as far as achieving a higher value as well as getting more buyer interest for your home. I list and sell many homes in the area, and I know the market very well, I would be happy to speak with you no-obligation. Feel free to call me at (248) 701-1677 (or text) or email me at jillmuldoonhomes@gmail.com , I would love to answer any questions you have and help you however I can! ... more
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Thu Apr 14, 2016
gchurch02 asked:
I will have pensions and social security as income but nothing like what I bring home from my job. I will supplement my income from savings (IRA's).
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Tue Mar 8, 2016
Czapper asked:
Signed an exclusive right to sell agreement less than 7 days ago which states "not a contract"...and have not been able to get out of my head a statement made to me by agent which I found…
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Thu Jan 28, 2016
Tammy Hergarden answered:
We are no home buyer in New York.
0 votes 1 answer Share Flag
Wed May 13, 2015
Dan Tabit answered:
Miles,
If you are listed with an agent, they can do this for you. If not, Trulia does not accept FSBO listings. There are sites that do, but if you posted here and on every other site that allows you to, you won't get the level of exposure that listing with a great local agent and appearing on your local MLS will get you.

A great agent is worth more than their commission, but a bad one or none at all can cost you way more than just a commission. Consider discussing your options with someone worth working with and then do whatever you feel is in your best interest. Best of luck however you proceed.
... more
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Fri May 8, 2015
Robert Torrey answered:
The market is booming right. If your home is marketed and price right it will sell.
0 votes 4 answers Share Flag
Fri May 8, 2015
Robert Torrey answered:
I think it is better to work on your score. You want to get up to at least a 620.Talk to a experienced lender they can help guide you in the right direction.
0 votes 8 answers Share Flag
Fri May 8, 2015
Robert Torrey answered:
The sooner the better. As soon as you find a agent you want to work with. They can recommend you to a proven and trusted lender for your pre approval. It benefits the buyers greatly when their agent and lender have a strong relationship together. I hope this helps. ... more
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Sun Feb 1, 2015
Arlene Campbell answered:
It depends on your offer. If your offer is a low ball price and is below the price limit of the seller, then chances are the seller will not agree.

But --- you can always try. Worst come to worst, the seller will say "NO". ... more
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Sun Feb 1, 2015
Arlene Campbell answered:
Talk to a couple of realtors in your area and ask to do a CMA.

You can also do it yourself as FSBO (For sale by Owner). I would talk to realtors if I were you since buying and selling process can be very stressful,

Best of Luck!
... more
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Thu Nov 27, 2014
Simon Campbell answered:
The Michigan Legislature site states this "(8) Subject to subsections (9) to (11) and section 3238, for a mortgage executed on or after January 1, 1965, of residential property not exceeding 4 units, if the amount claimed to be due on the mortgage at the date of the notice of foreclosure is more than 66-2/3% of the original indebtedness secured by the mortgage, the redemption period is 6 months."

All you would need to do is pay off the auction amount plus interest and any auction fees and the house is hers - free of liens.
... more
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Sat Nov 22, 2014
Robert Torrey answered:
You do have to wait two years before you can get a mortgage. The good thing is it gives you time to build a solid credit profile.
0 votes 7 answers Share Flag
Sat Nov 22, 2014
Robert Torrey answered:
As a consumer you always have the right to interview agents and choose the one you feel most comfortable with. Read reviews online and also ask friends and families for a recommendation.


Best Regards,

Robert Torrey
... more
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Tue Oct 7, 2014
Bosophiea asked:
I don't know if this amount will be affordable
I need to know all fixed costs . And I need to live knowing what's my budget ?
0 votes 0 Answers Share Flag
Sat Sep 13, 2014
Simon Campbell answered:
To qualify for a traditional loan, you are going to need a minimum credit score in the 620 - 640 range though most require 680. Accordingly, in April, Wells Fargo & Co., the biggest U.S. home lender, cut its minimum credit score for borrowers of Fannie Mae and Freddie Mac-backed loans from 660 to 620.

Additionally, lenders are going to look at your debt to income ratio even more than they will look at your credit score. As a general guideline, your monthly mortgage payment, including principal, interest, real estate taxes and homeowners insurance, should not exceed 33 percent of your gross monthly income. Your total monthly debt obligation should not exceed 40 percent of your gross income. Total dept includes housing expenses, car loans, child support and alimony, credit card bills, student loans and homeowner association fees.

This will help you to gauge your finances and the amount of mortgage that you can afford. But the best answer you can receive is to go down to some of your local banks and see if you can qualify for a loan and for how much.
... more
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