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Crest Hill : Real Estate Advice

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  • Home Buying11
  • Home Selling0
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Activity 9
Tue Jun 12, 2012
Ron Thomas answered:
Note; If you try renting it out, and your Lender finds out, they can (probably) immediately call in the loan, (or some such punishment).

A lot of people have been in your situation over the last three years; there is no easy way out, no soft landing.

The best suggestion I can give; if you afford your monthly vig, stick with it for another year or two:
The consequences of a Shortsale or Foreclosure is probably more than you will lose by paying on a dead horse.

A Shortsale would be second best; talk to your Realtor and the Loss Mitigation department to your Lender.

Good luck and may God bless
... more
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Mon Nov 21, 2011
Jim Simms answered:
Most insurance agents send us the bill and we pay it at closing. Ask your loan officer if that is the best way to handle it, then get a binder from the insurance agent you want to use, good luck,

I create my own problems:
http://www.trulia.com/blog/jimsimms/2011/11/i_cause_my_own_problems

Info on Lease Option or Rent to Own:
http://www.trulia.com/blog/jimsimms/2011/11/rent_option_or_rent_to_own
http://www.trulia.com/blog/jimsimms/2011/11/rent_to_own_continued

Criminal Credit Repair:
http://www.trulia.com/blog/jimsimms/2011/10/credit_repair_can_be_a_crime

Down Payment Assistance in KY:
http://www.trulia.com/blog/jimsimms/2011/03/down_payment_assistance_alive_and_well_in_kentucky
... more
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Tue Nov 15, 2011
Ron Thomas answered:
If we cannot see you GFE, why do you think we could guess better than you.
Who made up the GFE; Title Company? Attorney?
You should talk to them.

Good luck and may God bless
0 votes 3 answers Share Flag
Tue Nov 15, 2011
Scott Godzyk answered:
if it is just base don property taxes, the seller would pay the taxes in advance for teh year on the HUD. It would only affect your closing costs very slightly, if yiour bank was going to start an escrow account, it coudl eliminate your need to prepay 3 months of taxes yet they may want to do it anyway to establish teh account. You should ask your loan officer to explain it to you. good luck with your closing ... more
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Thu Aug 4, 2011
Rachel Dammann answered:
The county should have square footage records. That's one way they know how to determine property taxes. Look on their website or call the assessor's office.
0 votes 4 answers Share Flag
Tue Aug 2, 2011
Ron Thomas answered:
The Seller has no money; that is why they are Shortselling.
The Bank may pay some of your Closing Costs, but they have their own Closing Costs to pay.
You might jack-up the Offer to cover the CC and then ask them to pay.
To the Bank it will be a Net thing for money; and the Bank doesn't do Shortsales easily:
You may not want to jeopardise the deal for a few $$.

Good luck and may God bless
... more
0 votes 2 answers Share Flag
Sat Jun 11, 2011
Linda S. Cefalu answered:
Joe,

If you don't have to sell and you don't have enough money to pay off your existing mortgage, you should stay put. If you have enough to bring funds to the bank to pay off existing mortgage, then that would be one option. If you are moving up then you will most likely be saving more on the new home than you are losing on the current home. ... more
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Fri Feb 4, 2011
Phil Rotondo answered:
Good Morning Brenda;
You may want to check rental ads on CraigsList or in the local newspaper.
The owners may not be as stringent as those listed on the MLS or with Management Companies. ... more
0 votes 8 answers Share Flag
Sun Feb 8, 2009
Dallas Texas answered:
You need to confer with an attorney determine all legal issues regards property owned. County tax records will indicate who owns home whether bank has possession. Best of luck sorry to read about this ... more
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