Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

What Are Interest Rates Going To Do All Locations : Nationwide Real Estate Advice

  • All725K
  • Local Info60K
  • Home Buying265K
  • Home Selling46K
  • Market Conditions26K

Activity 6,346
Showing results for What Are Interest Rates Going To Do [Clear search]
Sat Feb 28, 2015
Gail Gladstone answered:
Cj,

Pre approval (NOT prequal) should be the very first thing you do...before all else.

Only then will you know what you will realistically be able to handle.

gail@GladstoneGroupRealty.com ... more
0 votes 14 answers Share Flag
Mon Mar 25, 2013
Fultoncrazy answered:
hmm. This is not in zip code 30022. Are you sure?. You mean McGenny Ferry road where lot of construction is happening? it must be 30024 . Is it fulton/forsyth Please check.


As to your questions, I have no idea and will let the good folks here speak ... more
0 votes 16 answers Share Flag
Mon Jan 12, 2015
Shelly Koehler answered:
I think this is a fantastic area to purchase a condo in. As you stated right by SMU so a wonderful investment property. Buying real estate has always been a great way to build wealth, but with where rates are at it is making it especially appealing and advantageous. SMU area tends to draw nice rental amounts. Uptown residents are used to the condo dues and can certainly be factored into how much rent you collect. Feel free to use my website, set up any listing alerts you like or contact me for any further information or questions you may have. Blessings

Shelly Koehler
Keller Williams
469-243-6087
http://www.shellykliving.com
... more
0 votes 9 answers Share Flag
Thu Sep 5, 2013
Joe Homs answered:
Your brothers friend was right. With a living trust everything is very simple. Have your sister list the home and handle the paperwork. Escrow will handle the transfer/sale from trust in escrow. The proceeds should go to your moms trust and the money divided there. Sorry for your loss. If you need an agent to sell the home give me a call.

Joe Homs, Realtor
949-625-4533
Joe@joehoms.com
... more
0 votes 29 answers Share Flag
Fri Oct 11, 2013
Stephen McRory answered:
-
YES, its always best to have an Attorney in your corner, especially if it can be paid for you!

Click here to see:

http://www.trulia.com/blog/steve_31/2012/09/gfb_1_000_000_purchase

==
... more
0 votes 18 answers Share Flag
Mon Jul 18, 2016
Roland Vinyard answered:
It's legal. And it is not uncommon in some areas during certain market conditions. Where I am, the buyer would just walk away, shaking their head, wondering how he ever met such a crazy person as this. The seller should understand that in the case of a buyer making a full price, non-contingent offer, that they could be liable for a commission to their agent even if the offer was not accepted and there was no closing. Always read the fine print; that's one of the things attorneys do. ... more
0 votes 24 answers Share Flag
Mon Mar 18, 2013
Thomas Feng answered:
Hi Esark33,

One of the strategies that I use to help my buyers get into homes is writing offers with no appraisal contingency because this acts like a cash offer.

A reality that my buyers had to face just like you is buying a smaller house. Say they are pre approved to $600,000 this might actually mean that you can only afford a home on the market at $500,000 because the price eventually gets bid up.

Give me a call at (408) 840-3852 or Thomas.Feng@gmail.com to further discuss your situation and how to write a winning offer.
... more
0 votes 9 answers Share Flag
Mon Mar 25, 2013
Stephen McRory answered:
-
-
Here is a way to shop for who best to work with:

http://www.trulia.com/blog/steve_31/2012/07/2012_loan_programs_florida_inc_stated_income_1_day_out_of_ss_bk_or_fc

---
0 votes 13 answers Share Flag
Tue Apr 23, 2013
Tim Moore answered:
No way we would know. You need to ask a lender since they will be the ones to loan you money and you need to go see them to see if they will. A FHA loan only needs 3.5% down so yes, there is a chance. ... more
0 votes 12 answers Share Flag
Wed Nov 9, 2016
Sandy Navas answered:
Hi, I can meet with you and place your Apartment on the citi-habitats website which has over 100,000 unique visitors monthly. My name is Sandy...my number is (646) 831-1955. Please give me a call or text to discuss. ... more
0 votes 16 answers Share Flag
Mon Mar 18, 2013
Marion Thacker answered:
Foreign national loans typically require 35% Down Payment and average 7% interest rate. Please contact me and I can put you in touch with several lenders that can work a foreign national loan. I work for a global real estate firm that also works with a lot of buyers/investors from overseas.

Marion Thacker
Engel & Voelkers Orlando
321-662-7550
marion.thacker@evusa.com
... more
0 votes 7 answers Share Flag
Mon Mar 18, 2013
Adam Elkassar answered:
Sorry to hear the circumstances your currently in. Like most of others that purchased home in late 2007 until 2009 market didn't help much to be able to resell when needed, No need for regret because you did the right thing back then by taking HELOC to by the investment property. Its very common to buy an investment property with I/O (Interest only mortgage) it normally allows you to have a lower mortgage payments that will be covered by the rental income.

First to start off, the mortgage note that you have due by 2017 is not a ballon payments that is due at maturity, an interest only payment is an adjustable rate that is due to expire in 2017 (ONLY the rate). Rates are tied up with Prime and index (Prime + Index= Rate) , If you look over the mortgage paper work that you have for this mortgage note, you will notice that you have a cap for the rate to increase normally cant exceed more then 5% of the index. So if the index that time with 2.50% the max your rate can increase will be 7.50%.

I hope that makes you a little relieved that the mortgage doesn't have to be paid in full in 2017 :)

Now what options you may have:

1- You current mortgage for your primary residence, Check to see if the mortgage note belongs to Fannie Mae
or Freddie Mac

www.fanniemae.com/loanlookup
www.freddiemac.com/mymortgage

if they are, thats great news because you may be eligible to do a HARP REFINANCE which doesn't requires an appraisal and you will be able to get a longer term 30 year fixed mortgage.

Who is you current mortgage lender? where is the property located? let me know and i will direct you to the right direction.

2- Secondly, regards the investment property/ Renal property. If you current on fix income (retirement) and the mortgage payments is not covered by the rent income, try to re-negoaite the loan terms with the bank. You can ask for a loan modification which called making home affordable program. I have done it in the past for lots my clients and i have seen success. its long process but at the end you are the winner not the bank.

Banks will try to extremely take their sweet time to make you give up but if you constantly calling them to follow up and sending your paper work on time, you will get done. Also be sure, you always send update documents such as update income stubs and bank statements every 30 days even IF THEY DONT ASK YOU. Always right you loan number on each page you send them.

Here is a link to the Making Home Affordable Modification site for more info as well http://www.makinghomeaffordable.gov/tools/payment-reduction/Pages/default.aspx

I really wish you the best and i hope all goes well. Its not an easy process but it worth it then selling your home as a short sale and loosing your perfect credit. Its going be hard to reestablish.

I believe that short sale should be the LAST resolution ! so you still have time to make things better :)

If you need my help or advice at anytime, please don't hesitate to call or email me at anytime

Adam Elkassar
Vice President
George Mason Mortgage
Direct: 571-331-8156
... more
0 votes 3 answers Share Flag
Fri Jul 12, 2013
Anil Khanna CPA/Realtor answered:
You may qualify for an FHA loan. If you are looking in the DC area, I have a few lenders that can work with you. Please call me at 703-625-6731 or email me at khannacpa@yahoo.com if interested. ... more
0 votes 10 answers Share Flag
Tue Mar 19, 2013
Patti Adams answered:
I think the biggest thing to look out for is keep the owner occupancy ratio of the entire complex above 70%. Lenders like it to be that high. If you go below that, then it is harder for owner buyers to buy in your complex and it becomes more and more investor owners and renter occupied.

So, take a look at the owner occupancy ratio now and go from there. Your HOA board should be able to tell you what it is. If you are a very small complex it is more important that if you are in a huge complex with a strong current ratio.
... more
0 votes 11 answers Share Flag
Thu Apr 4, 2013
Jim Pennington answered:
Please remember that the list price is simply the asking price. Most sellers set a price above what they expect to sell for. Some are reasonably higher, others are unreasonably high. A cash purchase has the advantage for the seller of not having to wait for the buyer to secure financing, or sometimes, being unable to secure financing. It also means no waiting for an appraisal or a survey if the buyer chooses not to have those items. A cash offer, with verified funds, typically means a faster closing with less headaches. And that's always attractive to a seller. Please let me know if I can help you with finding a home. Thanks! ... more
0 votes 11 answers Share Flag
Thu Jun 5, 2014
Ron Thomas answered:
Trulia;
You know very well that we are not allowed, BY LAW, to discuss commissions in an open forum:
Why do you do this to us?
0 votes 18 answers Share Flag
Fri Mar 15, 2013
charles 949.232.0828 answered:
Anna,

you pretty much summarized your options:
1. FHA w/ a 3% down but both upfront and ongoing MI
2. bigger down and a smaller MI ea mo

not enough down is a dilemma many face. your FICO is excellent. as a rule of thumb you may borrow up to 4-5x your annual gross income.

you ought to put something down... 0 down 0% interest only happened during the crazy time in '05-'06 though activities in Irvine is definitely getting there

charles
... more
0 votes 9 answers Share Flag
Tue Aug 20, 2013
cwmani answered:
Details for 2007 newly built TH:
2900 sq. feet (3 levels)
Backing the woods
custom painted
4 bedrooms (3 upper level and 1 in basement)
3.5 baths (2 full at upper level, 1 full in basement, powder room on main level)
Deck installed
Gourmet kitchen with stainless steel appliances
12 additional parking spots in front
... more
0 votes 13 answers Share Flag
Yesterday at 7:37am
Marc Comisar answered:
If you are looking for boating you should no doubt at least consider Cape Coral......it was built for that! If you would like some assistance we can help.

jessemcgreevy@gmail.com
239-898-5329
www.Domain-RealtyGroup.com
... more
0 votes 61 answers Share Flag
Thu Oct 31, 2013
Melinda J. Robison answered:
I suggest that you call a loan officer and have a conversation with them. I am not a loan officer, however, I think those scores will be too low for a traditional lender. If one lender says no, then ask if they know of any banks/mortgage companies or credit unions that accept lower scores. You might need to find a hard money lender.

The other thought is, if you think that there are errors on your credit that should be removed, it maybe worth it to call a company that helps assist getting the errors off your credit. I just had someone who had an issue on his credit. He hired a company to work with the credit bureaus to have it removed. This is unusual how high his score went up, but it did go up 130 points! Crazy Amazing! Feel free to contact me through my website www.GoMelinda.com and I can give you a name and number of a company that does a great job with this!

One other piece of advise. You may want to only have one lender pull your credit. Get a copy of your credit report and then if you speak with other loan officers, show them the report you have. Getting credit pulled, will pull your score down.

I hope this information helps! Best Wishes!
... more
0 votes 9 answers Share Flag
... 5 6 7 8 9 ...
Search Advice
Search