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Pay Off Mortgage All Locations : Nationwide Real Estate Advice

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  • Home Buying257K
  • Home Selling42K
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Showing results for pay off mortgage [Clear search]
Fri Dec 9, 2016
A. Edwards answered:
HUD guidelines say 580. Most lenders are going to require 620. If credit is iffy, I head up the credit coaching effort at my company and I would be happy to help you assess your situation. ... more
0 votes 91 answers Share Flag
Fri Dec 9, 2016
Priscilla Beggs answered:
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. ... more
0 votes 10 answers Share Flag
Thu Apr 6, 2017
Nick & Trudy Vandekar answered:
Banks will accept reasonable offers. But you usually need to pay both sides of transfer tax and u and o permits plus any repairs. Short sales are moving a little quicker. Some of the issues are condition of home. ... more
0 votes 75 answers Share Flag
Sat May 4, 2013
Gail Gladstone answered:
I rented until 1995 when I purchased my first home (I am 67). To me, it is like a bank account.

When I rented, I paid the landlord's mortgage. Now I pay my own and will be reimbursed when I sell.
When I rented, I had to vacate over and over as each landlord either sold their property or had family they wanted to put into it. No one can make me move out of my own home until I am ready.

Crag, do not allow society to tell you what and how...it is your life and it is up to you to decide what is right for you. I tried both and am happier being a home owner.

Best of luck in whatever you decide.
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0 votes 6 answers Share Flag
Wed Jun 12, 2013
Jana Halverson answered:
I understand how difficult it is to be out of State and try to manage investments. In my experience most of the answers to your questions depends on the lending institution. I find RBFCU to be fabulous to work with. I would encourage you to speak to them directly. ... more
0 votes 10 answers Share Flag
Sun Jul 21, 2013
Jim Fishinger answered:
Great question, but no easy answer. Current price increases are exacerbated by extremely low inventory forcing almost auction like bidding. If inventory begins to grow that should slow. Interest rates will have a huge impact. I would think another 10% not out of the question with stability on rates and an easing of the current crunch on inventory. ... more
0 votes 16 answers Share Flag
Sun May 4, 2014
Anna M Brocco answered:
For a personalized answer visit with any licensed loan officer, there are other factors besides credit that determine mortgage qualification; however most lenders prefer 640. Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. ... more
0 votes 8 answers Share Flag
Thu May 5, 2016
Sally Grenier answered:
You need to speak to your loan officer. We don't know details of your situation. It's very common for a lender to have one person not be on the loan because they can't qualify. Both parties need to qualify if you both are going to be on the loan. However, you BOTH can be on title to the house. Again, talk to your LO and have them give you a detailed explanation. ... more
0 votes 13 answers Share Flag
Tue Jul 9, 2013
Michael Tessaro answered:
Dear Dipthi Gajar,
Check out www.greatschools.com and I believe you will see that Pleasanton overall has excellent schools based on their current API test scores. There are some that are slightly better than other but the majority of elementary schools are all rated highly and which school your children will attend will depend on the nearest schools ability to accept your child do to limited class sizes and impacting in some schools and school grade levels. If schools are your primary concern then I would suggest you find a school you like and then make certain they have room for your child and then locate a home in that attendance area.
I hope this helps and should you have additional questions or concerns or wish to discuss housing I would be glad to help
Best wishes for a successful relocation,
Michael
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0 votes 12 answers Share Flag
Fri Jun 10, 2016
Ronald Fronckowiak answered:
ty29445, it all depends on whether the SBA loan was formally included in the Chapter 7 bankruptcy that was discharged 2 year ago. If you still have copies of your BK docs, there should be a schedule detailing the debts that were included in the bankruptcy. Likewise, there may be a schedule that details debts not included.

In any case, seek the advice of a legal professional. Whether the SBA debt was or was not included in BK may not matter if you can not clear a CAIVRS check. Supporting documentation will be key to you possibly getting approved for a VA mortgage.

Please feel free to call me at anytime.

Ron Fronckowiak
Mortgage Consultant
R & R Funding, Inc.
Lancaster NY
P: 716-685-9696
... more
0 votes 4 answers Share Flag
Tue Apr 16, 2013
Brian Ripp answered:
BART will not have an effect on the homes in this area. BART is fairly quiet and safe. Mission has great schools as well.

More inventory? We are seeing more home coming on the market over the past few days and weeks, however, we really don't know. It is normal to see more inventory as we get closer to summer.

Why wait, if you see the right house - make an offer. If you don't see the right house - keep looking. It's a great time to buy now and in the future.

Brian
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0 votes 7 answers Share Flag
Sun Jul 21, 2013
Nirmala Caraballo answered:
Hi Luz,

The first step you need to take is to meet with a mortgage professional and get prequalified. The loan officer, will need you last two pay stubs, last two years tax returns and two prior months of bank statements. They will then give you a preapproval letter that informs you of how much real estate you can afford to purchase. You can then meet with a local realtor and they can provide you with a list of properties that meets your criteria. You do not pay a fee to have a buyers agent represent you in your transaction unless otherwise agreed to.

If I can be of further assistance to you, do not hesitate to contact me.

Good luck.

Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
Tel.: 646-479-7873
Email: nhcaraballo@yahoo.com
... more
0 votes 12 answers Share Flag
Wed Oct 30, 2013
Bradley Neumann answered:
Not sure as we would need more information. Call or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Email: bneumann@myccmortgage.com
NMLS# 948036
... more
0 votes 3 answers Share Flag
Tue Apr 23, 2013
T S answered:
Do you have any money to put down? Good rental history? Contact a local lender or mortgage broker who will go through your financials and credit worthiness with you.
0 votes 6 answers Share Flag
Tue Apr 23, 2013
Jason Campbell answered:
s there any way I can talk you into taking advantage of what will probably be the best buyer's market we may ever see in our lifetimes?

The market is rapidly turning into a seller's market
Interest rates are WAY DOWN, but they are headed up


If you buy a home now:

* You will get more for your money - Rentals never stack up to homes you can buy for the same payment

* Tax Write-off - You can write off the interest you pay on your mortgage, you can't do that with rent

* Build Equity in the home - Each time you make a payment, you are that much closer to owning it!

* Gain Appreciation - Homes tend to go up in value... the home is worth more than you bought it for!


If you rent a home: You get nothing!

:)

Jason C Campbell
Option One Real Estate
210-389-5266
Web: http://www.SAHomeExpert.com
... more
0 votes 3 answers Share Flag
Wed Apr 17, 2013
Steven Ornellas answered:
Hi Keith,

All properties, whether distressed or not, are going into contract with little delay during this STRONG Seller's Market. So, you should keep ALL of your options OPEN.

Many Buyers start a property search only focusing on distressed property due to a belief they are cheaper and less difficult to buy than non-distressed property which is simply is not the case.

Basically, there are four types of "distressed/foreclosure" property. Here's a quick relative risk/difficulty scale for distressed property (1 being the most risky):

1) Trustee Sale-
You personally go to the County court house and bid on a home you probably have never seen the inside of, nor will have the opportunity to fully investigate. Seasoned investors need only apply. Cash/Cashiers check only, no financing. You may be interested in these two videos; “Foreclosure Auction Guide” http://www.youtube.com/watch?v=1CanJbhGdJM

2) Auction Company Sale-
A little better, at least you have a seat in a packed room where the auctioneer’s primary job is to get the highest offer from a much larger group than #1 above has. You are buying “AS-IS”. Do you have the ability to gauge cost of repairs you might see? This option is best for those who can walk a home and calculate refurbishment costs on the fly IF an investigative period has been allowed. If you are “gung ho” about an auction of this sort perhaps you should go through the steps to vet the property yourself and consider attending an event to see “how the sausage is made” and how comfortable you would be if you went this route.

3) REO-
When a property does not sell via #1 or #2 above you eventually see it come on market via a Realtor® MLS. You will still needs the skills to evaluate property condition and the good news is your Realtor® will be helping you to do so along with professional property inspectors you hire. The downside of an REO is the Bank typically only sells "AS IS" (meaning, the Bank will not typically make repairs even if you identify an issue) and the Seller's property disclosures are limited to what is statutorily required by law.

Before moving on to 4, 1 thru 3 above have a higher probability for issues with Title, referred to as "Title Defect" or "Cloud on Title", which means you would not have clean/clear ownership - not a comforting thought.

Some examples of situations affecting Title are:
-Outstanding mortgages/liens
-Restrictive covenants
-Outstanding future interests of others in the property
-Encumbrances
-Easements on the property
-Variations in the names of grantors and grantees
-Variations in the chain of title
-Outstanding dower interests.
-Adverse possession claims
-Structural encroachments
-Existing violations of equitable servitudes or covenants
-Zoning restriction violations

Here’s another video from the auction trenches: "Wells Fargo auctions off house they don't own" http://www.youtube.com/watch?v=yV6NeHoq1wA and here’s an interesting situation I have run into:

"REOs: How Buyers Can Avoid Hidden Unsecured Property Tax Liens" http://tinyurl.com/asvofat

4) Short Sale-
While there is nothing chronologically short about this option (plan on 60-90+ days before a Lender approval) it nonetheless is the closest relative to the non-distressed sale (where the Seller is selling “AS IS”/no Seller credits or repairs). The only real risk with these transactions is the underwhelming boredom and the overwhelming mystery of why it takes so long to obtain Lender Approval(s)!

Conclusion:
If you enjoy the “thrill of the deal” proceed with options 1 thru 2. If you like to know what you are getting for your money stick with 3 or 4 and non-distressed property.
... more
0 votes 5 answers Share Flag
Tue Nov 5, 2013
Jackie Care answered:
I would recommend speaking with a mortgage broker and going over the various costs associated with buying a home. It's risky to be responsible for owning a home when you have very little financial reserves and equity even if its possible to buy with very little down. You may want to put together a plan to purchase and what you need to do to get there even if its not right away. ... more
0 votes 20 answers Share Flag
Sat May 18, 2013
Ron Thomas answered:
The combination of the Housing Crisis and the Patriot Act have made the process of Buying and getting a loan, more intense.

The Banks are working for the Government in that they want to identify Money Launderers.
The Banks are working for themselves in that they don't want to repeat their past mistakes.

Don't look at it as baring your soul: look at it as you-have-no-choice!
... more
0 votes 10 answers Share Flag
Fri Jun 21, 2013
Kris Deaton answered:
Hi!

I love first-time home buyers and have lived in the Irmo area for 30+ years! Send me your email address and I will forward my Buyer Presentation. It will give you a lot of insight into why you need your own realtor. You really need one that you're comfortable with. You can start your home search by registering at www.kris.searchingcolumbia.com.

Looking forward to hearing from you!

Sincerely,
Kris Deaton, Realtor
Exit Real Estate Solutions
kdeaton1@sc.rr.com
803-518-0109
www.kris.searchingcolumbia.com
... more
0 votes 19 answers Share Flag
Mon Apr 15, 2013
Walter 'Skip' Kersten answered:
Escrow is instructed to wire the funds and send closing documents within 24-48 hours of closing.
Good luck,
0 votes 5 answers Share Flag
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