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88577 : Real Estate Advice

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Activity 201
Sun Oct 30, 2011
Ruvi asked:
0 votes 0 Answers Share Flag
Sat Dec 1, 2012
Kathleen Lordbock answered:
Thu Dec 8, 2011
Dallas Texas answered:
Most lender will require a 625 + credit score . Recommend contact a mortgage broker and continue to clear your credit

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 9 answers Share Flag
Fri Jan 3, 2014
Dp2 answered:
I don't know about any government bonds, but you might want to consider buying with creative financing.
0 votes 8 answers Share Flag
Thu Dec 8, 2011
Shari Hooks (RA) answered:
Homes are typically listed as ACTIVE until they are close to closing. In Hawaii, after we have an accepted contract, the status is changed to "CONTINUE TO SHOW" which lets the public know that there is an accepted offer, that the property is "in escrow", however the property is still being shown for back-up offers. When it gets extremely close to closing and most contingencies have been met (especially the financing contingency), then the status changes to "PENDING". That usually means it is less than two weeks from closing- or that the Listing Agent feels like it's a solid deal and they don't need a back-up. With a cash deal, it can go to PENDING much more quickly. For short sales, it's even more confusing. Even though a contract has been accepted by the seller, it's subject to Lender approval, so in actuality there is not an accepted contract until there is Lender approval. In that case, it may stay on as ACTIVE or "For Sale" even longer.

Since yours is a new home in the process of being built, the sales office may be using your home's advertisement as an example of homes available. Or, it could be as mentioned above, they may wait until it gets a lot closer to closing before changing the status. For best peace of mind, call the sales office and ask them. My guess is that you do NOT need to be worried. ~Congratulations! Aloha~
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Wed Oct 12, 2011
123jmt asked:
0 votes 0 Answers Share Flag
Mon Oct 10, 2011
Nat Brown asked:
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Wed Jul 27, 2011
Milton Kinnard Jr. answered:
Did you know you can buy a home for less than renting here in El Paso? Why are you needing to rent? I can help if you need more info.

915-298-0057
milton.kinnard@imortgage.com
0 votes 1 answer Share Flag
Mon Jun 27, 2011
Gerard Carney answered:
More information, or ask a Real Estate Attorney or Title Company
0 votes 1 answer Share Flag
Thu Jun 2, 2011
Anna M Brocco answered:
Your attorney can best answer your question, therefore consider a consultation....
0 votes 2 answers Share Flag
Fri Jun 10, 2011
Angela Ochoa answered:
You probably qualify for an FHA Home Loan which is 3.5% Down Payment. It works off the sales price of the home, so it depends on what house you pick. There are also Down Payment Assistance Programs out there, you can view a couple at: http://www.tdhca.state.tx.us/homeownership/fthb/buyer_intro.htm

Not every mortgage company is approved to do each Bond Program, so if you want to use a bond, you need to work with their approved lenders. Also, most bond programs have requirements about repayment policies and about how long you have to live in the home as your primary residence.

There are also 100% Financing/No Money Down Loan Programs if you purchase in rural areas. That is basically anywhere that is not in the City of El Paso or City of Socorro.

All of these programs are subject to qualifing for the loan with the mortgage company reviewing your income, debts, credit score, and credit history.

If you need help figuring it all out, please let me know. I'll be glad to help. Angela
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Sat Apr 23, 2011
Brian Rayl answered:
Your home purchase contract usually has a few outs in it for you in case something like this pops up. Take a look at your contract and speak with your agent.

In particular, your 3rd party financing adendum should state the maximum interest rate that you qualified for. If the interest rate is going to be higher than this at closing, you can get out of the contract and get your earnest money back.

Unfortuantely, that doesn't help you with having to move out of the apartment.

Talk to the lender. Find out exactly what happened that caused you not to qualify for the grant. Maybe it is something that can be fixed. If you really want to report them as negligent, you can do so through the state of Texas.

It's more than real estate. It's RAYL-Estate!

Brian Rayl, REALTOR®, e-PRO, SFR
Keller Williams Elite Park Cities
972-949-4222
Brian@Rayl-Estate.com
http://BrianRayl.com
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0 votes 2 answers Share Flag
Thu Apr 14, 2011
Cynthia Morris answered:
Howdy Michael
your questions about buying a house are so great. You should write a book about all these questions, answers and then your findings or at a minimum blog them. Your credit improves with a mortgage, of course assuming with such a great credit score you pay everything on time. Not only the credit score improves and shows ability to repay and roots for you, the purchase of a home yields great mental, physical, spiritual and financial rewards. Throughout history it is solidly one the largest and best purchases you will make. So Michael, when are we going to get together to look at houses. Give me a call.

See El Paso Homes for Sale on your cell Text EPT to 87778
What is my home worth, or any El Paso Home worth, how long has it been on the market and more www. HomePricesElPaso.com
Wishes for God’s best to you and yours in every way each and every day!
Cynthia Ann Morris,
CNE, CRS ,CSP,ePRO, GRI, TAHS,Texas Property Tax Arbitrator,Certified Real Estate Instructor
Sales, Property Management and Investing First Time Home Buyer Specialist
Short Sales and Foreclosure WE BUY HOMES
Broker-Owner Serving you and all of El Paso County.
Phone 915 471 4300 Fax 915 855 4609
email cynthia@EPHomeSearch.com Website www.EPHomeSearch.com
I want to be the only REALTOR ® you will ever need
Technology will NEVER replace real estate professionals, but real estate professionals with technology WILL
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0 votes 8 answers Share Flag
Wed Apr 13, 2011
Janine Love answered:
You should disclose everything to keep your liability down. It should not effect the resale value of your home if all was done correctly.
0 votes 1 answer Share Flag
Sat Jul 30, 2011
Cynthia Morris answered:
Absolutely and what a great plan. I would love to see everyone understated the value of real estate and another idea, what if you bought 10 houses over time and let y our tenants pay off your mortgage. How different could your retirement be??!! to answer your question of buying a foreclosure while having a mortgage on your homestead, absolutely you can, if you qualify. It is not as hard as you think and I would be honored to be of assistance to you. Give me a call or email me anytime. ... more
0 votes 6 answers Share Flag
Sun Apr 10, 2011
Cynthia Morris answered:
You are a wise shopper. With lots getting smaller and smaller and single story homes taking of more sq ft of the lot, get that wonderful single story on a great lot now and it will be one of the sought after homes of the future. You can find a great single story on a great lot today in all areas of El Paso today. If you would contact me with a little more information I am confident that the perfect home in the prefect location is out there for you. Some information that I will need to help you is what range of square footage are you thinking about, price range, how many bedrooms, where do you work and what are your hobbies.

See El Paso Homes for Sale on your cell Text EPT to 87778
What is my home worth, or any El Paso Home worth, how long has it been on the market and more www. HomePricesElPaso.com
Wishes for God’s best to you and yours in every way each and every day!
Cynthia Ann Morris,
CNE, CRS ,CSP,ePRO, GRI, TAHS,Texas Property Tax Arbitrator,Certified Real Estate Instructor
Sales, Property Management and Investing First Time Home Buyer Specialist
Short Sales and Foreclosure WE BUY HOMES
Broker-Owner Serving you and all of El Paso County.
Phone 915 471 4300 Fax 915 855 4609
email cynthia@EPHomeSearch.com Website www.EPHomeSearch.com
I want to be the only REALTOR ® you will ever need
... more
0 votes 1 answer Share Flag
Sun Apr 10, 2011
Jcarlos1005 asked:
Tue Aug 5, 2014
Rick Snow answered:
Actually the school taxes are higher in 79911 than in 12. All the other tax rates are the same. Canutillo's rate is $1.2921 and EPISD is $1.235. Canutillo schools have gotten a bad rap for years because it was a very poor school district with a low tax base. With the addition of all the higher value homes in 79911 the tax base has come up considerably. If I were purchasing I would not have any objections to either zip code. ... more
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Tue Apr 5, 2011
Bill Eckler answered:
Michael,

Whether or not additional back up offers are being taken largely depends on the seller. We are familiar with "foreclosure" sales that have 7 or 8 back up offers in place, so there becomes a point at which additional interest may be futile.

Probably your best approach to obtain the clarity you require id to be in touch with the listing agent. They should be able to provide you with the information.

Good luck,

Bill
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0 votes 4 answers Share Flag
Mon Apr 4, 2011
Don Groff answered:
Foreclosures are just about all listed in the MLS so you should contact an agent who can show them to you. A lot of people think foreclosures are not listed properties but this is not true. Banks want to get as much as possible for them so they list them in the MLS so agents can take their prospective clients. The more eyes a property gets the more money the bank will get. Find an agent in your area with experience dealing with foreclosures as there are also additional factors to consider.

Good luck with your search.

Don Groff
REALTOR | Mortgage Broker | Consultant
Buy - Sell - Lease - Invest
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
... more
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