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92867 : Real Estate Advice

  • All12
  • Local Info0
  • Home Buying5
  • Home Selling4
  • Market Conditions0

Activity 83
Wed May 29, 2013
Lori Hanson answered:
I have heard less like five years. It would be best to talk to a lender and just see what the say sbout being sble to purchade again and when.
0 votes 6 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
... more
0 votes 29 answers Share Flag
Wed Jul 22, 2015
You just need a minimum of 10% equity to refinance and get rid of your PMI.


Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701
... more
0 votes 24 answers Share Flag
Sun Mar 10, 2013
Tim Moore answered:
If the listing agent and the agent you dealt with are in the same office then that is a Dual Agent situation and you get less representation than if you have your own Buyers Agent. I don't know the rules in Calf about listing procurement and if a dual agent situation must be disclosed in writing. Hopefully your agent does. If nothing else a call from you or your agent to the office broker of the listing company might help, just let him/her know of your displeasure and that you wish to use the new agent. The listing company will still get 1/2 of the commission if you buy it so there is still incentive there to make it work. Good luck. ... more
0 votes 15 answers Share Flag
Fri Apr 10, 2015
Laura Coffey answered:
The CAR purchase agreement clearly states time is of the essence. It is very important that you choose a Realtor to help you follow contract guidelines. When your lender does not approve your loan and you are past your 17 day period or you have removed all your contingencies the seller may have a right to keep it.
I would seek legal council.
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0 votes 13 answers Share Flag
Fri Jun 20, 2014
Joe Homs answered:

You should probably check with your CPA, but if you are married each of you can deduct $250,000 in capital gains on the sale of a principal residence. Therefore with you and your spouse you can deduct $500,000 and NOT pay any capital gains.

Joe Homs, Realtor
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0 votes 15 answers Share Flag
Sun Mar 10, 2013
Lori Hanson answered:
As long as you find a lender that is able to write a loan in Texas it really doen'st matter other than being familar with the rules of the state and any local requriements for the loan. If you are starting a new job in Texas and it it in the same field as you are in now that will help with being able to get a loan. They usually want 2 years on the job before you can get a loan but my waive that if you are staying in the same field or with the same company just relocating.

Good luck and enjoy Texas, Austin is really pretty.
... more
0 votes 6 answers Share Flag
Sat Feb 9, 2013
Debra (Debbie) Rose answered:
If he is a "numbers" person, then did he factor in the NET cost of owning versus renting?

Did he factor in any tax benefits (write offs ) for interest and property taxes?.........

Did he also factor in upkeep/maintenance on a home one owns? - you don't pay for a new roof or furnace when you rent!

I think his statement is rather'd also have to factor in what you would do with the (assuming you have it) down payent money if you didn't invest it in a home............what interest would it generate - and how might it grow as compared to investing it in a purchase?

Landlords can raise rent every year , or decide not to rent if it is an owned property (yes, I know - taxes go up, too), but moving is that potential cost should at least be considered when looking at the whole picture.

My point is......there are too many variables, imo, to give such a cut and dry answer!!

happy new year!
... more
0 votes 9 answers Share Flag
Sun Mar 10, 2013
Thom Colby answered:
Call your local association. You can be anonymous. Also, If n OC, call Tony Rokakas (sp?) The AG, he's looking for bad apples.
0 votes 15 answers Share Flag
Mon Mar 11, 2013
Natalie Locke answered:
I prefer to have the buyer come for the last hour, so that the inspector isn't distracted. But, if I have a very hands-on buyer who wants to crawl in the attic with the inspector, I and my inspector are happy to adapt so that the buyer is comfortable ... more
0 votes 20 answers Share Flag
Sun Mar 10, 2013
Ron Thomas answered:
The Banks are not in the Landlord business.
This should be a 100% guarantee of a SCAM.
Some people are more vulnerable than others; they will think they are making out on a rental, anmd nothing you can say will deter them. ... more
0 votes 12 answers Share Flag
Sun Dec 2, 2012
Steven Ornellas answered:

I would insist on a properly filled-out formal contingency removal via CAR form CR.

0 votes 10 answers Share Flag
Sat Nov 17, 2012
Suzanne MacDowell answered:
He will not be able to buy a home for a period of time and, yes, you will need to take measures to rebuild your credit afterward. The time frame is different depending on whether you file for Chapter 13 or Chapter 7. You need to talk to a lawyer and/or a mortgage professional to make sure what the time frames are. I believe, if you file for Chapter 13, restructuring your debt, you may be able to get an FHA loan after a year or two of making regular payments to the trustee. However, with Chapter 7, (and again, please check this with an attorney and a mortgage professional) the wait time is 3 years. During that time you need to also re-build your credit. The easiest way to do that is with secured credit cards and/or automobile loans. Basically, you will open a Certificate of Deposit with a bank for an agreed upon dollar amount, then they will issue you a credit card with a line of credit using the CD as security. Once you have established a pattern of regular, on time payments, they will release the CD back to you to do with as you wish. The CD will, I believe, accrue interest during this time. You will need 3 lines of credit, so three credit cards or two credit cards and an automobile loan. Expect to pay a higher interest rate but it is the best way to rebuild your credit.

Good Luck! Don't feel badly, an awful lot of Americans are in the same shoes these days, you will come out of this fine and be better for it.
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0 votes 6 answers Share Flag
Sat Nov 17, 2012
Scott Godzyk answered:
Most mortgages require 2 years from the discharge to loan again. Yes he will need to rebuild credit. you could visit a local and trusted loan officer who can guide you with what he needs to do to get a mortgage in the future. ... more
0 votes 4 answers Share Flag
Mon Apr 15, 2013
An owner occupied duplex can be purchased with FHA financing with 3.5% down. Fannie Mae caps out at 85% LTV, Freddie Mac caps out at 80% LTV.

Shane Milne | Lending in all 50 states | NMLS #81195 ... more
0 votes 10 answers Share Flag
Sat Mar 30, 2013
Mahesh Mike Patel answered:
Thanks for your question. When you say you have cash for a dwide.. are you saying that you will pay all cash for the home?
If so, You should not have a problem, you can always explain ther reason for your credit issues...

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0 votes 7 answers Share Flag
Sat Nov 17, 2012
Absolutely! I am assuming you were interning while going to school for same line of work. I would write a very strong letter to the underwriter showing that not only does your internship count but they offered you a salary position. If you are working overtime or have bonuses we would not be able to count that income until we can show for two years.
Also, if your degree is relevant to your internship and current position, I would take a copy of your degree and show how you have more than 2 years experience.
I would make certain that your current company will fill out a verification of employment for you that states you have been working as an unpaid intern and now full time.
A good experience loan officer can get this done for you easily!!
I would make sure that you get approved prior to looking fora home!! cg
Happy Househunting
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0 votes 3 answers Share Flag
Thu Sep 20, 2012
Alison Hillman answered:
Have you looked at our listings yet? Take a look at Find a Pro (top right corner) to see recommendations for agents in your area!

Good luck,
Ali, Community Manager
0 votes 3 answers Share Flag
Wed Jul 11, 2012
Raquel Pasala answered:
Hardwood floors are durable and really warm up a room and home. I would certainly get pricing from several differently places and their are a lot of great deals out there for flooring. Doing it before you move in is a smart move otherwise later you are moving furniture, displacing the family etc.

Would love to help in any way.

... more
0 votes 4 answers Share Flag
Thu Jul 23, 2015
CPbronco answered:
I forgot to add. In the same regard, is buying points considered part of the closing cost? My intention is to use as much as possible of the Sellers credit to closing costs.
0 votes 12 answers Share Flag
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