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Financing in 45435 : Real Estate Advice

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Activity 12
Wed May 29, 2013
Gary Kremer answered:
You need to contact a mortgage loan officer and discuss your situation. I can put you in contact with someone. If you would call me at 937-901-8253

Thanks
Gary Kremer
0 votes 10 answers Share Flag
Mon Apr 29, 2013
Daniel Alvarez answered:
Do you have a capital one credit card?

I was able to boost my score by 20 points within 3 months just by accepting the card, using it once, and then paying off the entire balance.


This strategy, however, might work against you if your average credit history (between all your trade lines) is less than 2 years or if you've applied more than 3 times for credit within the last 12 months. Hard credit inquires will knock your score down a bit, but those effects are temporary and usually moderate over time.

For localized assistance and support, this looks like your best bet:

http://www.homeownershipdayton.org/

Good Luck and hope it all works out for you.
... more
0 votes 4 answers Share Flag
Mon Apr 29, 2013
Darrell D. Drouillard answered:
I assume you're using an FHA loan..There was a regulation that limited the guaranty on these loans to buyers if the seller owned the home less than 90 days. It was generically called the "FHA anti-flipping rule." Since FHA backs these loans, the lenders have to follow their rules.

That being said, if this is the case, then your lender has not kept up with the guidelines. They may have other reasons for the denial, but if it's merely to comply with the 90 day possession guideline of the FHA, then you need to question further. In order to stabilize the housing market, the FHA temporarily waived this requirement back in 2010. The exemption from following the guidelines was set to expire in December 2011 which would have meant that the 90 day rule was re-instated.

But, the government extended the exemption again until December 2012 which means that the 90 day rule does not have to be followed. I would question your Lender or ask another Lender. Here is the link for the government extension of the exemption...

http://www.gpo.gov/fdsys/pkg/FR-2011-12-28/pdf/2011-33411.pdf

Good Luck!
... more
0 votes 9 answers Share Flag
Sun Oct 21, 2012
Bob and Sue Whigham answered:
Mkt rate for an LC depends on the buyers qualifications and the sellers motivatin for selling. Basically LC is on a case by case basis. As a side note LC's can be a dangerous arrangement for the buyer and for the seller. Suggest you discuss the pros's and con's with a Realtor experienced with this type of transaction. If you wish to delve deeper call us 937-435-2267 x163 for a one hour free consultaiton. www.YourRealtorForLife.net ... more
0 votes 3 answers Share Flag
Mon Apr 29, 2013
Lenderbradford answered:
Lori,

The details need to be discussed with a lender. In todays times you will normally need to have recieved your first check from the new employeer and also have an employment contract. Exceptions are possibe, so discuss the details with a lender. ... more
0 votes 5 answers Share Flag
Thu Nov 11, 2010
Annapurna asked:
We are a complex with 52 units. Ohio law states 10% reserve unless majority votes less or -0-. New FHA guidelines require 10%...I gather no deviation.. Do conventional loans require ...
0 votes 0 Answers Share Flag
Thu May 6, 2010
Anna M Brocco answered:
Tue Feb 26, 2013
Susan Blanford answered:
There are many reputable lenders in Dayton. If you are in Ohio, enlist the services of a reputable real estate professional in the area you wish to buy who can help you.
0 votes 2 answers Share Flag
Wed Apr 8, 2009
Mike B answered:
You need to have a payment ready at closing to pay for the accrued interest through the month. You payoff equals your balance + daily accrued interest.

Hope that heps.
0 votes 1 answer Share Flag
Mon Mar 23, 2009
Dallas Texas answered:
I work with many who are PML or aka HML contact my office happy consult with you.

972-699-9111

Lynn911
~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer ... more
0 votes 0 Answers Share Flag
Tue May 13, 2008
Julie answered:
Speak to your lender. This is very common with a lot of the first-time home buyers and young couples that I work with. Often times they with have a parent with good credit and income cosign the loan for them to help them qualify. A cosigner is not necessarily responsible for any of the monthly mortgage payment - unless that is an arrangement you have worked out - but if you default on your loan the cosigner will be held accountable. Good luck! ... more
0 votes 2 answers Share Flag
Wed Apr 23, 2008
Judy Davis, CRS answered:
This is another consult an attorney answer. I believe part of the answer will depend on who is in tile, Who is on the loan and what type of deed.
0 votes 1 answer Share Flag
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