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Green Credit Solutions All Locations : Nationwide Real Estate Advice

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Mon Dec 21, 2015
Jim McCowan answered:
You really should speak to a local lender. I can tell you that here in the DC area, if a Foreign National has a work visa or 'Green Card' it's possible to get a loan just like anyone else, depending on the rest of their financial situation. Investment properties usually require a much higher down payment, too. ... more
0 votes 11 answers Share Flag
Fri Jul 30, 2010
Dan Chase answered:
My offer was based on a house that did not need this kind of work. Since it needs new plumbing, wiring, roof, and a furnace which will cost at least $xxx either we need to have the seller fix everything OR take $xxx (and a bit extra) off for us to buy this house.

Stuff being outdated is irrelevant. You can live with that ugly 70's green kitchen. You saw it was not like a new house as far as style goes. That is style, not substance.

Stuff needing replacement is very pertinent. If it needs $20k worth or repairs take off that amount or walk away. In the end you will either pay what you think is fair OR you will not buy. Your inspection period gives you the right to walk away finding such problems if they are not addressed.
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0 votes 19 answers Share Flag
Wed Jan 12, 2011
Alan May answered:
For me, it primarily comes down to cost. I can either pay for the stager's services myself, or expect that the seller will pay for those services.

In many cases, I simply act as a "mini-stager" because the seller won't pay (and I don't want to), and have the seller move and remove furniture, add lighting, move and remove household plants, open drapes... take down the 14 foot heritage wall of family photos that run down the hallway, and clear off the kitchen counter and refrigerator.

No cost to either of us.
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0 votes 19 answers Share Flag
Sat Sep 29, 2012
Jeffrey White answered:
You have a couple options. In your situation the best thing to do is keep the property and rent it if you can and get an inexpensive rental where you are moving to. If this is not possible, you can attempt to sell it for the price you need to break even before you attempt a short sale. Short sales done right will not hurt your credit as much as a foreclosure but are still something you should avoid if at all possible.

Please contact me through my website below for more information. You are not alone in this situation!
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0 votes 21 answers Share Flag
Thu Nov 4, 2010
Dan Chase answered:
4th quarter foreclosures 2009 were up 18% compared to 4th quarter 2008.

That seems like an "F" to me.

I saw something that said it cost $900,000 for each modification. Can I give a "Z" for that score? "F" seems way to high.

What needs to be done is the same thing that has ALWAYS been done. Let the market find its own balance.

If people do not pay their bills they lose the asset. It is that simple. Do not save the people who made bad decisions. Let the houses be foreclosed and be bought by someone who can afford it.

While at it, stop all loans to those who would not meet non-fha financing requirements. Maybe have fha offer lower down payments, but keep the rest of the stricter credit requirements intact.

bad credit rating = renter (simple equation)
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0 votes 5,951 answers Share Flag
Mon Jan 24, 2011
Alan Martin answered:
you should have started the short sale process way back. . We can help you with a short sale but you need to act fast

please call 408 832 4888

0 votes 13 answers Share Flag
Thu Oct 10, 2013
The only thing you can do is figure out the amount you can qualify for, the monthly payment that you feel comfortable with. and know that your purchase price will vary depending on taxes. In addition, there are areas of NJ that are in flood zones, so you may have to consider including flood insurance in your monthly payment as well. The variation on interest rates will most likely not make that much of a difference. I prefer to qualify people based on a higher interest rate just to be on the safe side. I also don't like to low ball the cost of homeowner's insurance to make my Good Faith Estimate look lower, because ultimately you need to qualify based on what is realistic. These are some of the reasons why you need a loan officer who will spend the time to go over all these variable with you, so that you can feel comfortable when you are looking. Give me a call JF and we can talk about it.\

Robin Silverberg
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0 votes 17 answers Share Flag
Wed Dec 23, 2009
Karen Wilkinson answered:
I'm sorry to hear that you have been through so many realtors. My advice would be to look for a top producer who you like and who you mesh well with as it is a relationship that requires alot of communication. Best of luck to you. If I can assist you further my contact information is below.

Karen Loiacono
Oh by the way I'm never too busy for your referrals!
732.599.1938 Cell
732.656.3131 Off
732.909.2859 Fax
Please visit my website:
Making my clients happy! One sale at a time.
2006, 2007, & 2008 -BRONZE
Remax 100% club 2007 & 2008
The highest compliment I can receive is the referral of friends and family! Thanks for your trust.
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0 votes 26 answers Share Flag
Thu Nov 30, 2017
Mike Hart answered:
I wouldn't call you insane, even if you were. :)

I just wonder if the things you hate about the house could be changed or corrected.

What is it that you hate about the house?

It seems like you would probably be taking a bit of a loss to sell a house immediately after purchasing it, but if your happiness can be achieved by doing so, that does not seem insane. It seems more insane to stay in a house which you hate so much it makes you cry! ... more
0 votes 72 answers Share Flag
Fri Jul 17, 2009
Ryan Hukill answered:
Most sellers who are offering that type of arrangement will specify such things in their marketing materials. Also, if you have a Realtor sending you listings, they can specify that as a parameter on your search. Let us know if we can help with anything else. ... more
0 votes 7 answers Share Flag
Wed Nov 4, 2009
Joy Elliott answered:
Hi Lora, yes, you can afford Pleasanton at your price point. The inventory is low due to the decpreciation of value. We see most short sales and a few bank owned properties. Generally the summer is the highest inventory with kids out of school and families wanting to make the move during this time. WE are seeing multiple offers in this market but you should be able to successfuly bid on many of these propeties.

For the most current and up to date MLS listings please visit my website at and register for the search engine. Any time you see something you might consider, just shoot me an email or call me and we can take it to the next level

Joy Elliott, Windermere Real Estate
San Ramon
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0 votes 29 answers Share Flag
Mon Oct 17, 2011
Sellin' With CC Team answered:
I think your husband would be surprised at how much you could afford with todays prices and interest rates.Besides it should be about affordability. He and you should look at the actual costs and if your payments would be comfortable to you. To get the best rates most lenders are requiring a 680 cedit score and your debt below 30% of the limit. But for FHA most can qualify with a 640 credit score. The rates and guidleines change all the time, so it is good to know where you are currently and what you can afford. I am writing a contract today for $85,000 condo. I just sold a short sale in Orange Park, 1800 sq ft for $117,000. Your payments will most likely be lower than what you are renting for. Also, in Real Estate you make your money when you buy. This home does not have to be your dream home. It needs to be a good starter home without many propblem that you can grow equity. So when you life changes in 5 years or whenever you will have equity in the home so you can upgrade. That is exactly what I am doing. I bought a townhouse and just married with baby on the way. We are happy and payments are low. We know in a few years we will need a bigger house and will be able to afford it because of the equity. It never hurts to look. Good luck. ... more
0 votes 20 answers Share Flag
Tue Dec 6, 2011
Krista answered:
Well, if you check, GCS' California Department of Real Estate license is NBA status. This means there is no broker affiliate and they cannot complete acts which require a real estate license. Additionally, the DRE has not issued a no objection letter for an advance fee agreement (per the DRE website). An advance fee agreement is required to RE licensees to collect fees in advance. Licensees cannot be paid in advance, and can only be compensated for work that is actually done. GCS does have affiliate companies that are licensed, but the license does not transfer to other entities. Additionally, the other entities do not have advance fee agreements accepted by the DRE. So, they can't do modification under the exemptions for RE brokers.

Next, they claim they are a "law center", yet are not a legal corporation and are not registered with the California Bar Association or American Bar Association. According to the CA Bar and California Corporations Code, a legal corporation doing business in California must be registered with the CA Bar. Individual attorneys must also be registered. Why they refer to themselves as Green Credit Law Center is beyond me. In addition to being a circumvention of CA laws, it is a violation of CA Bar Ethics for attorneys to split fees with non attorneys, enter into partnerships with non attorneys as is the practice of Capping and Running.

Next, there is the issue of debt settlement. This also requires a prorater's license in accordance with California's Check Sellers, Bill Payers and Proraters law. You can check yourself on the State of California Department of Corporations website or call the DOC directly.

Although GCS doesn't have a California Department of Corporations Finance Lender's License, an affiliate company does. However, the Commissioner of the California Department of Corporations has determined that the CFL license does not cover loan modifications. In fact the CA DOC issued a Desist and Refrain order against 2nd Chance Negotiations for doing loan modifications.

It is my understanding that many firms are having the borrower execute a power of attorney to hire an attorney and act as the borrower's act. I haven't found anything to show that this is legal or in anyway circumvent licensing laws that outlined in the CA Business and Professions Code and other CA Codes. In fact, the City of Los Angeles recently outlawed this practice.

In regard to them being a failed wholesale lender, I have no idea as to this fact, but it is my understanding that they were a subprime lender.

Unfortunately, many modification companies have very little concerns for laws and regulations. Check out Bad Biz Finders for more information on the activities of modification companies.
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0 votes 57 answers Share Flag
Thu Sep 7, 2017
Dana Schuster answered:
The minimum score required in this market is 620 for an FHA with 3.5% down. other financing requires a 720.
0 votes 33 answers Share Flag
Fri Sep 6, 2013
Plano answered:
It depends on your income, debt, how much you plan to buy, etc. But if those are good, and you have atleast 3.5% down for an FHA loan, then yes.
0 votes 39 answers Share Flag
Mon Oct 1, 2012
Joey Marino answered:
He could help raise prices of properties by eliminating some of the "stale" inventory. Some older foreclosed homes that are damaged and deteriorating are still sitting on the market driving down prices after years of vacancy in good neighborhoods.
I wrote a blog a few months ago here
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0 votes 55 answers Share Flag
Mon Sep 16, 2013
Dennis Smith answered:
You have several options, depending on your finantial situation.
1 - Sell at a loss and come out of pocket with the difference.
2 - Sell as a Short Sale and the lenders take the loss (You must have a verifiable hardship)
3 - Keep the home till it appreciates to the loan balance
4 - Get a loan modification from Hope Now - HOPE NOW is an alliance between HUD approved counseling agents, servicers, investors and other mortgage market participants that provides free foreclosure prevention assistance.
5 - Let the home go into Foreclosure
6 - Rent it out.
... more
0 votes 18 answers Share Flag
Thu Aug 19, 2010
Todd Lee answered:
You need to get a hold of your lender ASAP. The sooner the better and explain your situation. Right now banks do not want another foreclosure on their books and are willing to renegotiate your loan with you. It may or may not work out but that is your first step and do it before you are late (if you're not already) on your mortgage. Do whatever you can to try to save your credit. ... more
0 votes 23 answers Share Flag
Thu Apr 29, 2010
Mike Kelly Allison Norman answered:
Tracy, I'm a bit confused by "DRE sanctioined"? The Department of Real Estate works with licensees and NOT attorneys unless the attorney seeks a license (which they can due to being an attorney). I don't understand the "court orders" either. The AG of California, Jerry Brown, just setted a huge lawsuit with BofA and Countrywide to rewrite "option ARM" programs to 90% of current value but it concerns just these loans and just Countrywide homeowners. So I suspect these guys are trying to cash in on a court decision by "showing" the consumer just how they can collect! Is this a Contingent Fee operation--you perform THEN get paid, or is it a fee up front with no gaurantee of a settlement? I'm also a bit disconcerted about the "Green Credit" name which is either a horrible parody or an attempt to cash in on the "Green" movement. Keep us posted as to your discoveries as I'm seeing more and more loan guys who are now touting themselves as "Loan Modification Specialists" and collecting fees for something the consumer can do themselves. ... more
0 votes 123 answers Share Flag
Mon Jan 15, 2018
Jeremy Sulak answered:
You may want to check out a previous post, its brief but sums up how I got my start 3 years ago

Best Wishes

Jeremy Sulak
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0 votes 133 answers Share Flag
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