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44144 : Real Estate Advice

  • All6
  • Local Info1
  • Home Buying3
  • Home Selling0
  • Market Conditions0

Activity 431
Sat Jun 23, 2012
Cecilia Sherrard answered:
Perhaps we can help you find a mortgage or assist you with credit repair. Feel free to contact us anytime. We're very experienced with home loans and programs.

Andrew Ginter & Cecilia Sherrard
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0 votes 5 answers Share Flag
Fri Oct 25, 2013
Duane Johnston answered:
Best way to get information about the crime rate is to vist the local police department. They will have all the statistics you need to determine where you might want to live.
Good luck and if you need any help finding a home, I would be happy to help you with that.
Duane Johnston,
Howard Hanna Real Estate
... more
0 votes 9 answers Share Flag
Thu Jun 21, 2012
Duane Johnston answered:
that depends on where it is. Do you have a location of this acre?
Duane Johnston,
Howard Hanna Real Estate,
0 votes 2 answers Share Flag
Wed Jun 20, 2012
Shannon Byrd answered:
There is no set time time frame. Bank of America can take anywhere from one week to several months.
0 votes 6 answers Share Flag
Wed Jun 27, 2012
Tim Moore answered:
Start working with a lender if you have not yet. They will help you with loans and credit. Then find a good Realtor to help you and answer questions. Go from there. Good luck.
0 votes 7 answers Share Flag
Tue Jul 30, 2013
James Gordon ABR SFR SRS answered:
Your buyers agent can set you up with aa list of forclosed homes in the area. Be prepared for some rough looking properties that aqre not move in ready. Making sure that you are approved for a FHA 203k or a cash buyer is the best way to to make sure that you can buy a forclosed property ... more
0 votes 10 answers Share Flag
Sat Jun 16, 2012
Dan Tabit answered:
In most cases with a 203K, the appraisal will be done on the finished value of the home. In other words, if you are buying for $200,000 and putting $35,000 worth of work into the house the finished value needs to be at least $235,000 for a lender to consider it. Truthfully, in this example, I would hope the finished value would be much more to make it worth your while to oversee the work.
203K loans require that all the work get done (or run through) a licensed contractors books. I've heard of people with construction experience who assist the contractor and save some of the money, but it still needs to go through them.
Even if in my example above, the home appraised at $300,000 finished with only $35,000 in improvements, the bank will lend in relation to the lesser of the purchase price or appraised value. You will still need down payment and not get any cash back.
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0 votes 2 answers Share Flag
Sun Jun 10, 2012
Vicky Chrisner answered:
Most lenders want 2 years of employment history.... but there are exceptions. Were you in college or at another job in the same industry before this one?
0 votes 4 answers Share Flag
Thu Jul 19, 2012
Ronnie Thompson answered:
Short sale is a decision that home owner makes after evaluation their need and financial condition but it needs lender's approval. There is no underlined guidelines for short sale and it's approval depends solely on lender's wish and risk re-assessment. It has got nothing to do with HAMP or HARP refinance. It makes no difference at all. If you wish to leave the house and make no mortgage Payment lender cannot levy your pay checks but they have all rights to report behind payment to credit credit bureau which will lower down your credit score and hence lower the ability buy a new home.Moreover, if you wish to leave the house and leave no option for lender other then short sale, they will report short to bureau which will lead to inability to buy new home for at least 3 years. At the same time lender will report their loss to IRS and you will have to pay taxes for the amount of lender's loss as it will be counted as your income for that particular year.

Short sale is very important decision to make as it has it's own consequences. If you have good understanding with the lender and if you could convince them to approve the loan and do a better than fair credit reporting , your credit will not be hampered a great deal.
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0 votes 1 answer Share Flag
Sun Mar 13, 2016
Dominic Picione - The Incorvaia Team answered:
Typically the main issue that delays the closing is the fact you need to get contractors in to give estimates and fill out all the proper paperwork. In this case, it sounds like the bank you're using may not have the 203k loan available as a loan product, so they may be using a 3rd party.

I know lenders that do the rehab loan and specialize in these, if you'd like to speak with them. Feel free to contact me anytime.
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0 votes 8 answers Share Flag
Wed Jun 6, 2012
Anna M Brocco answered:
Since most foreclosures end up being listed by a broker consioder working with an agent of your own, who can provide any necessary information. If purchasing with a mortgage, 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 4 answers Share Flag
Tue Nov 22, 2016
Suzanne MacDowell answered:
Define 'bad credit'. Many people think they have terrible credit when it's really not that bad. You can reach out to the company suggested below. You can also talk to a local mortgage banker. The banker will look at your situation and tell you what, if anything, you can do right now. If not now they can give you some tips on how to improve your credit and how long it will take for the improvements to show up on your credit report. A lot of times they will tell you what needs to be done and you can do it yourself, but I must say, if Tari is correct, it's a small price to pay to have someone do it for you. The process can be very time consuming. ... more
0 votes 78 answers Share Flag
Sat May 26, 2012
Duane Johnston answered:
More than likely not, I don't think your income is not high enough to qualify for a loan. However you may be able to do a land contract with a seller. That maybe about the only way to buy the property.
If you would like to talk about it, you can call me anytime,

Duane Johnston,
Howard Hanna Real Estate
... more
0 votes 1 answer Share Flag
Thu Apr 2, 2015
Cecilia Sherrard answered:
It sounds like you're on track for obtaining an FHA loan. Your best bet is to talk with someone privately about your situation and goals. There are a few different options out there and you'll want to weigh them all up along with getting good advice to start you off right. Feel free to contact us anytime to discuss your goals, down payment, interest rate, mortgage amount, etc. There are variables and specific questions which you'll want to address privately. We're free to work with and are very experienced.

Cecilia Sherrard & Andrew Ginter
... more
0 votes 4 answers Share Flag
Wed May 23, 2012
Duane Johnston answered:
There are several programs that will help with your down payment but have to qualify for them. Talk with a loan officer as they will know all of them.
Good Luck
0 votes 3 answers Share Flag
Fri May 18, 2012
Hi Nancy,

Can you give brief run down on a couple of things?

What interest rate are you being quoted?

What is your credit score?

What is your current balance and what are you trying do; cash out or rate and term refi?

What is the estimated value of your home?

What type of mortgage do you have right now, FHA, VA, USDA or conventional?

Without knowing a few things, it's impossible to determine if you're getting a great deal.
... more
0 votes 2 answers Share Flag
Fri May 11, 2012
scoobydoobedo7 asked:
Mon Oct 21, 2013
CastleRockREO answered:
Hi Doug,

We currently have a 3 Bedroom Single Family Home that is a Cash for Deed property. This means that instead of paying rent every month, you pay monthly towards owning the home. If you are interested please check out the properties below or give us a call at 914-372-7510 and we would be happy to assist you.

3243 West 116th
Cleveland, OH 44111
$1000 Down and $325 per month.

Thank You,

Bryan McKeon
CastleRock REO
... more
0 votes 4 answers Share Flag
Sat May 5, 2012
Catherine Miller answered:
This response came directly from the HUD website:

Can I modify an offer after it has been submitted?
Yes you can modify an offer after it has been submitted up until the bid-opening date. Log in to, click Bidder Functions, and go to Review your Bids. Click the bid you want to cancel. Click the Modify Bid button. A summary screen will appear where you can modify the bid. Click the Continue button. Review the bid summary, click the check box to accept the terms and conditions, then click the Confirm Bid Submission button. The modified bid is then submitted and the original bid is withdrawn from consideration by the Asset Manager. You are not able to modify an offer after the bid-opening date has passed. ... more
0 votes 2 answers Share Flag
Thu May 3, 2012
John Wirsing answered:
There is nothing currently available directly on Colchester.
However, within a one mile radius, there are 14 properties currently available.
Some are condos, single-family homes or multi-families,
Rents range from $750/month up to $3500.
Feel free to call me at 440-487-2193 or email me at and we can try to match your wants/needs with what is currently available.

John Wirsing
RE/MAX Premiere Properties
... more
0 votes 1 answer Share Flag
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