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Colton : Real Estate Advice

  • All39
  • Local Info4
  • Home Buying13
  • Home Selling1
  • Market Conditions1

Activity 14
Thu Apr 11, 2013
Suzanne MacDowell answered:
HAMP is just a government program, there are other loan modification programs available. When you receive the written offer, with terms and conditions, look it over carefully and be sure you are comfortable with those terms. Generally, any loan modification is a good deal. It means your payments will be lower and you will be able to stay in your home, but do read those terms carefully. ... more
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Mon Apr 25, 2016
Tina Lam answered:
There are no set time frames. As with many things in real estate, it depends on your situation and the bank you're working with. It could be a month or six month, if approved.
0 votes 2 answers Share Flag
Fri Aug 24, 2012
Jory Blake answered:
Yes, good point. There are however a few missing details.
0 votes 1 answer Share Flag
Mon Apr 23, 2012
Alain Picard answered:
I would start planning on the possibility of needing to move. If the home you are renting gets sold at the auction or by the bank afterwards there is a possibility that the buyer of the home will be an investor and may let you stay in the house as their tenants. ... more
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Thu Jun 14, 2012
Jodi Schwarzl answered:
Hi Chito,

Sometimes things look one way but actually are another. I would suggest contacting the agent's Broker or the owner of the agency to ask them to look into how the deal was handled. This may help to ease your mind. Good luck

Jodi
... more
0 votes 8 answers Share Flag
Sun Oct 2, 2011
Shane Milne answered:
I don't think any BofA loan officers currently participate here at Trulia.

Here is a list of all "Mortgage Brokers & Lenders" which have "Bank of America"; in their profile, sorted by "Activity Level": http://www.trulia.com/voices/directory/-mortgage_broker_or_lender-bank+of+america?sort_order=activity and I know the top 2 do not work at BofA any longer (you can confirm who any loan officer in the U.S. works for by using the http://nmlsconsumeraccess.org/ website), and everyone else there seems to have workED for BofA but not currently workING for BofA.

Bank of America has their normal branches, which I have found don't know much about their mortgage programs, and then they have their home loan locations, which all they do is mortgages and they know exactly what they can & cannot do. The closest one to you is in Redlands at 1980 Orange Tree Lane #101, phone # is 909.335.3820. I just called them because I was interested, and the gal who picked up said the max they can refinance is up to 105% LTV with the Making Home Affordable Program, even for people with their own mortgages they don't offer any other special refinance programs or go above 105% LTV on the special government program.

You may want to check out the web reference below, it was about a client of mine who has a BofA mortgage and was able to get a loan modification without ever having to go late on their mortgage and didn't even have to do a trial modification period. They did not contact the normal modification department, they contacted the BofA executives directly. So even though BofA's normal home loan & modification departments say something isn't possible, with the right approach and the right person helping you out, it can still be accomplished.
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Fri Sep 24, 2010
Bill Eckler answered:
Will,

Probably the best resource for cirme and safety information is the local police department or county sheriff's department. They have access to the most accurate and current information and are generally very willing to be helpful.

Good luck,

Bill
... more
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Mon Jul 19, 2010
Todd McGregor answered:
I don't know of anyone that does 70% of ARV. The best I know of is 65% from The Norris Group. If you need help finding some properties give me a call or send me an email with your criteria.

Todd McGregor
DRE # 01884269
C: 760.975.8588
O: 951.304.2006
todd.mcgregor@realtyworld.com
38975 Sky Canyon Dr
Suite 109
Murrieta, Ca 92563
... more
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Thu Oct 25, 2012
Bill Eckler answered:
Hi Jan,

Banks are very leery of putting people in financial positions tht could result in them becoming over extended. With this said, your ability to obtain additional funding will depend on a number of additional circumstances. income, debt, savings etc.

Your best course of action is to meet with a couple of lenders to find out what they can do for you.

Good luck

The Eckler team
... more
0 votes 6 answers Share Flag
Tue Jul 28, 2009
Susanna Kunkel answered:
Aloha Wendy,
There is intense pressure on lenders to work with owners and offer more loan modifications. It's certainly worth a try. Short sales are possible for non-owner occupied properties, too. If you'd like a referral to a short sale and foreclosure real estate expert in your area, please feel free to contact me.
With warm aloha,
Susanna Kunkel, RA
Kauai Foreclosure & Short Sales Specialist
... more
0 votes 2 answers Share Flag
Thu May 7, 2009
Dana Schuster answered:
minimum 620 for an FHA loan with 3.5% down payment. all other types of financing now require a 720.
0 votes 2 answers Share Flag
Wed Jul 30, 2008
Monique & Joe Carrabba answered:
Have your agent do comps. If it's a good price and it hasn't been on the market too long maybe 10% below asking. If it's been on longer you could do 15% of asking. It all depends on the market in your area, property demand and seller's motivation.

Best,

Monique Carrabba
Keller Williams Wilshire
The Reavis Group
mcarrabab@kw.com
... more
0 votes 5 answers Share Flag
Sat Jul 30, 2011
Eric H. Wong answered:
Hi Ken;
Where is your Realtor? Is he or she helping you or giving you any advise? I question signing away all your contingencies.
The law is, if you signed the liquidated damages, portion of your contract, and you breach the contract, which it sounds like you did, the seller is entitled to up to 3% of the bid for the property, but the seller must prove that they were damaged to that amount.
Did you sign the arbitration clause in your contract? This may have to go to arbitration.
I assume the $19,000 is being held in escrow. They will not release it without agreed upon instructions from both sides.
In short, the seller does not just get the money. They have to prove that they were damaged somehow.
Where is your Realtor?
... more
0 votes 4 answers Share Flag
Thu Apr 3, 2008
Keith Sorem answered:
Tess
You need to speak with a REaltor that knows your situation, your property, and your market. If you need a referral let me know. Otherwise, ask you friends, neighbors, etc.
0 votes 2 answers Share Flag
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