It's always good to get something in writing. Sometimes a mortgage agent means to lock a rate, but forgets. This can make a difference to the borrower. So just for future reference, try to get confirmation in writing of the rate lock.... more
The principles of supply and demand do apply, and that's why the rents are rising. Keep in mind that as the inventory of homes for sale increases--especially due to foreclosures--the demand for rentals also increases directly proportionally. Plus, as more people opt to sit on the sidelines, that also contributes to the increasing demand for rentals.... more
An auction is surely not the way for a home owner to sell their property if they want to sell at or near current market value. When a person buys at auction they want a deal, they want 25-50% off the retail market value. To purchase at an auction most of teh time you need cash, soem auctions will allow you to get a mortgage but your sale can not be continegnt uppon you getting that mortgage, so if teh high bidder does not close, they lose theor often large deposit which keeps most retail buyers (your average couple) away... more
The Oaks are well built. The community won a building award from the Pocono Builders Association. I have heard a lot of positive feedback from owners and tenatnts over the years. If you are still looking for East Stroudsburg townhome rentals contact me and I would be happy to assist you.... more
There is a clause in the Pennsylvania Association of Realtors recommended Residencial Lease includes the following statement regarding the Owner's Mortgage Companies rights...Line 220, Clause 28. TENANT HAS FEWER RIGHTS THAN MORTGAGE LENDER Landlord may have a mortgage on the property. The rights of the mortgage lender come before the rights of the tenant. (EXAMPLE: If Landlord fails to make mortgage payments, the mortgage lender could take the property and end this Lease.) TENANT MAY BE WAIVING OR GIVING UP TENANT'S RIGHTS. TENANT UNDERSTANDS THAT IF THERE IS A FORCLOSURE, THE NEW OWNER WILL HAVE THE RIGHT TO END THE LEASE.
If your lease does not address what would happen in the event of a Mortgage Forclosure you should consult an Attorney. My initial thoughts are that if you signed a Lease to rent the property, you are bound by the terms of the Lease as long as you continue to live in the house. In general it takes approximately a year in PA for the Mortgage Lender to take ownership, so depending on when your Landlord received notice from his/her Mortgage Company that forclosure proceedings were started - this will determine the amount of time you have left to start looking for another place to live before you are given notice to vacate the premises.
Good Luck and if you have any other questions regarding rental properties, feel free to contact me.
Cheryl J. McDonald
Short Sale Certified... more
Gvega: You need to have your credit report analyzed by a loan professional who can help you improve your credit. If you improve your credit first you will have a much better chance and your interest rates will be better also. Many people don't realize that there are many things that can be done to improve ones credit score. If you speak to a knowledgeable loan officer they will help you and it many not be as difficult as you think.
You may wish to hire a good licensed engineer to inspect the cesspool, if aware, he/she may be able to inform you in on any pending legislation. As far as safety concerns, a lot will depend on its age and if made of block, there is a risk of collapse. As far as renegotiating with sellers, you can try, though no guarantees--was the property listed at a fair price to begin with due to the cesspool, etc.--what does your agent suggest.... more
1. If you need to sell it that quick, price it competitively at or below market value to generate offers.
2. List it with a company with proven record and can market it for you in e very possible way to get a lot of exposure.
You can't deny that it's a great time to buy! I would recommend one floor living for a retiree, looking ahead so that you may remain in your home for many years. The right home for you may be a ranch or a condominium if you don't like to keep up a yard. You have to decide what's right for "you"!... more
Fair Housing laws prohibit an Agent from answering this question. There are many resources you can use to understand that demographics of a certain area, most likely available on the City of County website.... more
I don't have specific info on crime statistics but have written an article about safety in another area community. If you check the link I have included, you will find links to resources, which apply to any area, near the end of that article. I caution you to take 'opinion' with a grain of salt and focus on the facts.... more
First of all congratulations on your engagement and pending marriage. Nothing better than a wedding in the Poconos!
With credit and lending standards changing so quickly, I would suggest sitting down with a mortgage broker and have them analyze your entire financial picture...really dig into the details. Speaking in generalities will only frustrate you and possibly yield poor advice. As your wedding is a few months off and you may not be serious about buying immediately, take your time and talk to someone about cleaning up your credit. It may not be as bad as you think, especially if you pay your bills on time. Knowing your credit requires occasional maintainence.... more
Please research on the Pocono Record or even better call the blooming grove stated police. Just outside of the gate their was a murder, home invasion. The poor man that was murdered was Barry Rose, father of two. Even though the murder took place outside of the gate that parcel of property is considered Saw Creek Estates. Almost every month on Channel 13 you can see on the news the drug busts, or the break-ins. Think twice. Hope this help you... more