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Duluth : Real Estate Advice

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  • Local Info22
  • Home Buying44
  • Home Selling2
  • Market Conditions5

Activity 106
Mon Oct 8, 2012
Rodney Mason answered:
A lot will depend on what you have done since the Bankruptcy was filed. FHA mortgages are the least restrictive for a previous bankruptcy. HUD requires that a minimum of 24 months must have elapsed from the DISCHARGE date of a Chapter 7 Bankruptcy before a borrower can be eligible for an FHA mortgage.

For a Chapter 13 Bankruptcy, then you must have made at least 12 on time payments. Additionally, you must also have permission to purchase from the Bankruptcy Court.

In the time since the Bankruptcy, there should be no new derogatory items such as late payments, collection accounts, liens, judgments, etc. Having late payments after a Bankruptcy is often viewed as a disregard for the importance of credit. It also reflects that you are still having financial struggles.

If a mortgage was included in the Bankruptcy, HUD requires that you must wait at least 36 months from the foreclosure date to be eligible for an FHA mortgage. Sometimes, the foreclosure happens well after the Discharge Date of the Bankruptcy. If the mortgage was not re-affirmed, there is not much that can be done until the property get foreclosed on.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
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Thu Nov 1, 2012
Rodney Mason answered:
Tue Dec 25, 2012
Isabel Elsesser answered:
Okay Great move! I would be happy to help you get a great deal.
I know the area really well and have some fantastic opportunities.
call me direct 770-307-8751


Isabel Elsesser, Realtor
First United Realty
Save Time & Money!
www.isabelsnewhomes.com
www.Buford.georgiamls.com
Direct 770-307-8751
Fax 888-799-3184
Over 24 Million SOLD
... more
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Tue Jul 31, 2012
Laquita Baez answered:
i have access to that information, but may i ask why you are requesting that info?
0 votes 1 answer Share Flag
Wed Aug 15, 2012
Laquita Baez answered:
Mon Jul 23, 2012
Tim Moore answered:
Likely you will not be able to buy and will need to rent until you improve the credit. Speak to a lender and be sure.
0 votes 1 answer Share Flag
Tue Jul 17, 2012
Tina Lam answered:
With a 1-3 year time horizon, it generally makes sense to rent instead of buy. The real estate transaction costs can be an issue for such a short time frame.

You'll have to weigh the costs between renting and buying. Some areas, it's just so much cheaper to buy that it's worth taking the savings each month to bet on the transaction costs.

And, if you're looking to sell, you can always sell if you price your home right for the market.

That said, I just helped one of my clients sell a home quickly due to unexpected job relocation. They had only bought the home with me 7 month earlier. Fortunately, the area we bought was so hot that they're able to walk away with a 10% net gain after all selling expenses.
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Sun Jan 27, 2013
Katherine Morrison answered:
The public records showed it went to auction on June 5. Best bet is to check with the attorney handling the foreclosure.
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Mon Jun 25, 2012
Tim Brown answered:
Brivers,

The FHA rule regarding foreclosure is you must wait 3 years from the recording of the foreclosure deed before qualifying for a new FHA loan. So depending on the precise timing of your foreclosure, you would be able to buy a home and finance it with an FHA loan.

On the other hand, your middle credit score will need to be above 620 to qualify for a new FHA loan however so I think you will want to have someone evaluate your current credit situation to help assess how quickly your score can improve to 620 or greater. I may be able to help determine you with the credit assessment if you want to buy sooner than next year. It does surprise me that your score has not moved higher if you are current on your rental property mortgage as you state.

Let me know if I can help.


Timothy Brown
LPO Manager | Evolve Bank & Trust
11605 Haynes Bridge Road Suite 125| Alpharetta, GA 30009
tbrown@getevolved.com
678.468.5626 x110 | fax 678.935.1156 | cell 678.467.9959
NMLS#: 168281
... more
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Sun Jun 3, 2012
Vicky Chrisner answered:
So you can now convert Sec 8 vouchers to some kind of assistance for purchase? I know nothing of this but would love to know. Hopefully someone here can answer your question.... (because inquiring minds want to know). But, I suspect you really should be talking to your Sec 8 office.

And PSST... Jeremiah - Sec 8 is not a hand out it is a hand up - at least when managed properly. Sure there are opportunities for fraud and IMHO those situations should be dealt with much more swiftly and severely than they often are (varies by housing agency). HOWEVER, I bet you don't know that you can have a Sec 8 voucher that doesn't result in ANY payment on your behalf if your income increases... and that the max income level for a Sec 8 voucher recipient is 80% of the median income.
... more
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Tue Jul 31, 2012
Michael Hammond answered:
That is workable, Latisha, as there is a good supply of homes in 30096. If you would like for me to send you electronic flyers of these properties, please forward me your email address and I will get them over ASAP. If you'd like to see some today or tomorrow, please call, text or email and I will arrange the showings. How much is your budget? Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
... more
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Mon May 28, 2012
Michael Hammond answered:
I can help if you are willing to listen. In whatever you decide, Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
... more
0 votes 7 answers Share Flag
Mon May 21, 2012
Michael Hammond answered:
Most FSBO Sellers are savvy enough, especially in this market, to have factored in a Commission for a Buyer who prefers having a professional on their side of the table at Closing, Amanda. If you want to navigate these waters alone, please do your homework in advance. Consider learning at what price point all homes in the area sold, finding a good Lender if this isn't a cash deal, and writing a contract that will protect you if certain things do or do not happen. Please call, text or email if we might help further. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
... more
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Tue May 8, 2012
Laquita Baez answered:
Usually you would need to have your home listed with a realtor in the mls databases that feeds into the trulia site.

Laquita Baez
Better Homes and Gardens Real Estate Metrobrokers
770_901_0956
www.LaquitaBaez.com
... more
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Mon Apr 2, 2012
Rodney Mason answered:
Hi Susan,
You would need to contact your real estate agent regarding the terms of your sales contract.

For legal advice, you would need to consult a real estate attorney. Only they can advise you on legal issues.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 4 answers Share Flag
Sun Apr 8, 2012
Ricardo Nadal answered:
Most property managers are looking for good rental/employment history nowadays. Credit is not such an issue as in years past.
Good luck
0 votes 1 answer Share Flag
Mon Feb 27, 2012
Adrian Provost answered:
Contact Provost Real Estate Group. We specialize in representing clients attending auctions!

Adrian Provost
1-888-901-8421 (direct)
404-910-9924 (mobile)
mail@AdrianProvost.com
0 votes 2 answers Share Flag
Sun Feb 19, 2012
Michael Hammond answered:
About 50 to 70 minutes to ATL and around 20 to 30 to Briscoe Field and Peachtree-Dekalb, cassaly. Hope this helps. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
... more
0 votes 1 answer Share Flag
Sun Apr 8, 2012
Marie Souza Team answered:
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