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19131 : Real Estate Advice

  • All43
  • Local Info0
  • Home Buying24
  • Home Selling7
  • Market Conditions0

Activity 2,597
Fri Apr 5, 2013
Philip J. Cunningham Sr answered:
You will have to find a landlord that is willing to rent a 3 bedroom for the price of a two bedroom and you will not be able to pay the difference. Call me if you have any questions 215-725-5700 X49

Philip J. Cunningham Sr.
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia, PA 19152 215-725-5700 X49
PhilCunningham2004@yahoo.com
... more
0 votes 0 Answers Share Flag
Wed Apr 3, 2013
Philip J. Cunningham Sr answered:
Please call me at 215-725-5700 X49 so I may set up an appointment to meet with you and do a property search. Please call ASAP since you need to make a move ASAP.

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700X49
philcunningham2004@yahoo.com
... more
0 votes 1 answer Share Flag
Tue Apr 2, 2013
Robbie Mahallati answered:
There sure is Tanesha! Im 100% sure we can help!!! Just check out what we do>>>>>>>>>>>>>>>>>>>> www.phillystoprenting.com
0 votes 5 answers Share Flag
Mon Jul 8, 2013
Pacita Dimacali answered:
Check out the CDPE (Certified Distressed Property Expert) site. Agents who have this designation have gone several steps to learn and work with short sales. Furthermore, they tap other CDPE for help.

http://www.cdpe.com/find/cdpe

You can also check out Short Sale Superstars. We have members posting information on various lenders, challenges they have faced and how they were resolved.

http://shortsalesuperstars.com/profiles/members/advancedSearch

Good luck.
... more
0 votes 6 answers Share Flag
Mon Apr 1, 2013
Ryan Garrity answered:
As a buyer purchasing a short sale, the process is not too different from a standard transaction. Traditionally, when a buyer purchases a home they just have to get the seller to agree to their terms. With a short sale, the terms are subject to bank approval (the seller's lender), and that can often times be a lengthy process depending on the lender. So, patience is a must. Other than the bank's involvement, not too much else changes. There may be a few bank required addendum/forms that you may have to sign off on.

As a buyer, there aren't necessarily benefits or advantages. They come into play more for the seller, in that a short sale is an alternative to foreclosure and the seller is getting the bank to agree to accept less for the property, then the seller currently owes. But as a buyer, you will still be paying market value based on present day conditions.

If you would like to discuss further, then please don't hesitate to reach out. Thanks.


Best,

Ryan C. Garrity
U S Spaces, Inc.
2043 Locust St., 1F
Philadelphia, PA 19103
215-829-8850 x208
215-514-9424 (cell)
ryan@usspaces.com
... more
0 votes 7 answers Share Flag
Tue Apr 2, 2013
Don Sherman answered:
There isn't a special mortgage needed in this situation.You will be occupy the home & the city allows up to 3 unrelated people to live in a single family residence. You can use an FHA mortgage or conventional mortgage.
For more information and discuss you needs in the home,please contact me
Don SHERMAN-SRES
Century21 Advantage Gold
Cellphone-267-716-8228
Email-realtor94@gmail.com
... more
0 votes 5 answers Share Flag
Thu Apr 4, 2013
R. Eric Axelson answered:
Hi Jehana, congratulations on deciding to buy a home, and for maintaining good finances. I am a multi-million-dollar producer in Center City. My office is on Rittenhouse Square and I am intimately familiar with all neighborhoods and price ranges in Center City.

Feel free to contact me for a phone interview or a cup of coffee to see if we are a good fit for each other.

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
267.507.2287 direct
axelson@kurfiss.com
... more
0 votes 17 answers Share Flag
Sun Mar 31, 2013
Sheri Curci answered:
Good Friday Evening,

We can put our 18 years of experience to work for you

When is a good time to confidentially talk?

All the Best, John + Sheri Curci RE/MAX 215-757-2889
0 votes 9 answers Share Flag
Sat Apr 13, 2013
Wbg answered:
Tue Jul 9, 2013
R. Eric Axelson answered:
Hi Angie, feel free to contact me when you have a moment. I would be happy to share with you some thoughts on areas close to the airport. To be honest, you may do best to simply end up in Center City (our downtown) as it is only 25 minutes away and there is transportation to the airport. We should discuss.

I give all my clients a driving tour of the city to help them get an idea of the layout.

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
856.617.1212 mobile
856.979.5967 text
axelson@kurfiss.com
... more
0 votes 7 answers Share Flag
Wed Sep 18, 2013
Peter McNicholas answered:
203K can be used for foreclosures since the property is being sold AS-IS and the work needed to the property is being financed by the mortgage company under the 203K loan. It is not a simple process, but if it fits you it can really build some equity in the home by doing the needed renovations. I would suggest getting in touch with a lender that deals with 203K on a regular basis. I deal with a company that knows them well. You should work on your credit and familiarize yourself with the process of the 203K. Feel free to contact me for the 203K mortgage officer's info. My email is peteramc@hotmail.com. ... more
0 votes 7 answers Share Flag
Fri Mar 29, 2013
Jennifer Geddes answered:
Angela,
Unfortunately the square footage is not listed for this property, but I would be happy to schedule a showing for you, if you are not already working with a Realtor, so you can see the size and property.
Please feel free to contact me to discuss your search further.

Thank you,

Jennifer
jennphilarealtor@gmail.com
484-995-2155 cell
... more
0 votes 2 answers Share Flag
Wed Mar 27, 2013
Ashly answered:
btw, I have a combined monthly income of about 3000 a month.
0 votes 2 answers Share Flag
Fri Mar 29, 2013
Tony Grech answered:
That's a question for a real estate attorney. That's not necessarily an arm's length transaction and there might be some red flags there.

Are you prohibited altogether from paying the loan off early or is there just a penalty if you do it?

The other thing I'm thinking is that there may be transactional costs involved in selling a home that total more than the prepayment penalty or the interest you'd ay if you held onto the loan for another few years.

From what I know, selling the property to a spouse would not be an effective (or maybe even a legal) way to sidestep the prepayment penalty. But again, seek some legal advice as opposed to opinion you'll likely find on here

Good luck!
... more
0 votes 3 answers Share Flag
Wed Mar 27, 2013
Michael R. Torres answered:
No, this is a conventional loan product. The HFA Preferred Risk Sharing program allows for just a 3% down payment, based upon acceptable credit score, and only allows a 3% seller assist. Therefore, depending on how the transaction is structured, it may require more money out of pocket for the transaction than going with an FHA loan merely because you may ask the seller to credit up to 6% of the sales price towards closing costs with an FHA loan. However, the monthly payment for that FHA loan will be substantially higher, which can have an impact on qualifying for a higher sales price. In my opinion, the PHFA HFA program is by far the better option, if you have the assets to make it work for your situation. Let me know if you have any further questions and best of luck!

Michael Torres
RE/MAX Reliance
215-275-2009
Michael@movinginmontco.com
http://MichaelsRealEstateBlog.com
... more
0 votes 1 answer Share Flag
Fri Mar 29, 2013
Benny Smith answered:
Title to a property changes hands when sold. The bank is responsible for the property while the bank owns it.
0 votes 2 answers Share Flag
Fri Mar 29, 2013
Benny Smith answered:
Why are you out the months rent. You have possession and a lease. What does the lease say about foreclosure. A foreclosure and an eviction are two different things. Unless there is a problem with your lease you could start looking for a new place but don't move out unless evicted. I recommend you contact a Lawyer now at the least, take part of next months rent and pay a lawyer then to to review your lease, and to review any eviction notices you my receive between now and then.. ... more
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Wed Mar 27, 2013
David Siegel answered:
you are describing an apartment that is $1000-$1,100/month in those areas. old style apartments with coin-op laundry in the basement,older kitchens and bath without parking rent for $750-850 in the areas you described. best of luck to you. I suggest you compromise and share a 2 or 3 bedroom house or apartment that meets your criterion where each bedroom is a $800/mo commitment. ... more
0 votes 2 answers Share Flag
Wed May 15, 2013
Sarah Scott answered:
Hello,

The Philadelphia School District has a great tool online for locating schools based on address.
Just type in your address and it will locate all elementary, middle, and high schools.

https://webapps.philasd.org/school_finder/

Good Luck!
... more
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