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Aberdeen : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling0
  • Market Conditions1

Activity 3
Tue Jun 1, 2010
Dallas Texas answered:
Lender will seek 2 year employment history with "same type of job". Best contact a mortgage broker in MD discuss all your concerns. Lender approval statements are valid for approx. 60 days. If you can lower your debt ratio never close an account your interest rates could be much lower. ... more
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Sat Jun 5, 2010
Lew Corcoran answered:
Without knowing the specifics of your situation (credit scores, type of bankruptcy, length of time since bankruptcy), you're probably better off refinancing into an FHA mortgage. If you had a Chapter 7 Bankruptcy, it must be discharged for a minimum of 24 months; it's 12 months for extenuating circumstances. If you had a Chapter 13 Bankruptcy, you must have made a minimum of 12 months of payments into the bankruptcy plan. All other judgments and liens (if any) must be paid off. You must also have reestablished good credit, and you cannot have any late payments on any accounts since the bankruptcy. Any late payments on any account since a bankruptcy will disqualify you for an FHA mortgage. ... more
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Thu Feb 17, 2011
Jed Lane answered:
Alex,
From the info supplied there is no contract unless you've given more than a week and a half to respond. If the time has expired, even though you have a verbal it must be in writing to you or your agent.
Let me ask some questions because there are some terms that are not clear also.
The "selling agent" is the agent that brings the buyer to the transaction. Is it your agent that you sent the document to?
You say that you sent the "back page". Why not the whole contract? Were there other contingencies contained in the rest of the contract? Did the agent already have those pages?
But generally speaking in contracts, they have to be in writting to be valid. Offer and acceptance all have to be in writting and the communication of the offer and the acceptance have to be iin writting also.
... more
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