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21244 : Real Estate Advice

  • All19
  • Local Info1
  • Home Buying9
  • Home Selling2
  • Market Conditions0

Activity 16
Tue Oct 25, 2016
John.davis31980 asked:
Thu Aug 11, 2016
Paul answered:
I bought my last two homes using rent to own. The first time I was just getting over a divorce and my credit was trashed. The second time I was self-employed and was unable to show enough income with my startup company. In both cases, it worked great for both the seller and I.

One company is on your side by helping you to set yourself up for success. They help you determine how much you can afford by doing a debt to income ratio analysis and set you up with a free credit report consultation. The credit analysis provides you with an action plan to get your credit in position for a mortgage. They will let you know how long it will be to be mortgage ready and offer advice for building new credit. With your permission, they will provide this information to the seller of the property, which gives him/her the comfort of knowing you have a viable, documentable action plan to get you to a closing table at a future date. Cost of the service is a onetime fee of $50 per applicant.

The cost of the credit enhancement if you engage is only $99/month per person which is standard in the industry, but they give you an end date to your service on the date you enroll. All other credit repair companies will string you along by disputing one item at a time because their goal is to extract as much money from you as they can. This company disputes all the inaccurate information every step of the way through the process. Their goals align with yours. For more information or to get started with the screening company go to www.screenthetenant.com. For more information or to get started with the credit Enhancement Company go to www.mycreditteam.com. Click on the Rent to Own tab for more information.

I believe they do business in all 50 states.
... more
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Wed Jun 8, 2016
Marq1005 asked:
Mon Mar 28, 2016
Tony Grech answered:
Yes this can be done. They can "gift" you the equity in the home, which would count as your down payment. Not sure as to the tax implications- that would be better discussed with a CPA or tax preparer- but we do these types of transactions all the time. Feel free to reach out if I can be of assistance on the financing end of things! ... more
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Wed Feb 18, 2015
Ron Krauch answered:
At the bottom of the email, there should be an "unsubscribe" link. That should stop the emails. If you set up several searches using different email addresses, you will have to unsubscribe from all of them.

Ron Krauch
www.EmeraldEstatesRealty.com
... more
0 votes 2 answers Share Flag
Mon Oct 27, 2014
Dan Tabit answered:
Mshope,
PMI is insurance against foreclosures. It's not life insurance. If a homeowner dies and they have PMI on the home, generally the home goes to the estate. If there is equity in the home, it can be sold and the proceeds are divided as the will or the State indicates it should be. ... more
0 votes 1 answer Share Flag
Sat Apr 5, 2014
Dwayne Wilkins asked:
Hi, I was wondering how I could inquire about Listing Agents with properties my investor could buy off them wholesale, meaning to fully rehab and rent out. I'm (my target area) in reservoir…
0 votes 0 Answers Share Flag
Thu Apr 3, 2014
Dwayne Wilkins answered:
As your agent, I could get you a great deal on a bank-owned property. I will conduct searches and market analysis of bank owned properties and construct offers suited in your best interests. ... more
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Thu Apr 3, 2014
Dwayne Wilkins answered:
If you are willing to explore alternative forms of acquiring property without a mortgage loan, I can help you find those resource as your buyers agent.
0 votes 2 answers Share Flag
Tue Aug 6, 2013
brent mendelson answered:
UW check on the accounts you provide. If what you provide is enough to cover the funds needed and reserves than nothing else will be required. Talk to your loan officer about the amount needed with a cushion and then provide what is required. Hope this helps and let us know any follow up.

Thank You,
Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
O-240-235-5314
C-301-412-0259
F-240-235-8236
Bmendelson@1stMarinerbank.com
Lending in all 50 states
nmls#111407
... more
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Tue Feb 19, 2013
Maryland Home Inspection Service answered:
This is a quote taken directly from the Rental Housing Licenses web page; "all buildings or a portion of a building that contain one to six dwelling units, intended, or designed to be rented, leased, let or be hired out to be occupied for living purposes be registered and licensed with Baltimore County."

You must have a licensed home inspector complete the inspection sheet. The home inspector must also provide time and date stamped photos of the front and rear of the dwelling. There is one exception...if you are renting to a family member, you can file an Exemption Affidavit. If you are filing an Exemption Affidavit, there is no fee required.

As a side note, the inspection checklist will be changing in the near future. The new checklist will be more specific as to what areas and specific items will be inspected. During a recent conversation with the head of the program I was told that any code violations must be identified and corrected. If you want to schedule an inspection, give me a call at 410-515-3838. If you would like more information about the program, please visit my website and click on the Rental Inspections tab at the following address:

http://www.mdinspect/rentalinspections.htm

Dan High
Maryland Home Inspection Services
410-515-3838
... more
0 votes 4 answers Share Flag
Wed Dec 7, 2011
Patti Click answered:
Most programs in Baltimore County require that you complete counseling before you go under contract to be eligible (Maryland CDA, Baltimore County MALP). The exception to that would be the Federal Home Loan Bank's (FHLB) first time buyer program. The program is good anywhere in the state of Maryland but you do need to be within the income limits based on the number of people in your household. This program would give you up to $7500 in FORGIVABLE funds. You do have to do some counseling, but it can be done after you are under contract.

I have blog about down payment assistance programs, you can find more info there, or feel free to contact me!

thanks!
... more
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Sat Apr 16, 2011
Gene Drubetskoy answered:
You need 3 years since discharge date but that doesnt mean your wife cant qualify for hte loan herself and have you on title. Please call me anytime, 410.526.1915 or visit my website to comlpete a loan application for exeact qualification. Wells Fargo is one of the only lenders lending under a 640 score. ... more
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Fri Feb 20, 2009
Bill Eckler answered:
Mary,

If you are seeking an accurate valuation that comes with the highest level of confidence we recommend having an appraisal done.

It may cost you a little money but people generally place a high level of trust in an appraisal. ... more
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