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Lancaster : Real Estate Advice

  • All44
  • Local Info2
  • Home Buying17
  • Home Selling1
  • Market Conditions1

Activity 23
Sat Mar 9, 2013
Mattie Brown asked:
Wed Feb 27, 2013
Dallas Texas answered:
I would recommend lease your home . I am assured there are many many strings attached to that assumption loan.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer

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Thu Jan 31, 2013
Tommy Burris answered:
Willingness and capacity to pay.

That is why we look at credit, debt and income.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration =>
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Sat Dec 1, 2012
Dixon Wong answered:
Hi Juanita,

Yea joe is correct.

We are not allow to say whether its a safe area to live in or not as Realtors. Its against fair housing law.

Please check with for crime stats.

Good luck

JP and Associate
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Thu Sep 6, 2012
Dennis Anderson answered:
Contact a lawyer and begin looking for another place to live.

Good luck,
0 votes 1 answer Share Flag
Fri Dec 18, 2015
Shanna Rogers answered:
Hi Big Pimpin,

You should only lower your purchase price if the property is overpriced. Have your Realtor do a Comparative Market Analysis (CMA) on the property using SOLD comps within a 1 mile radius of the property (the closer, the better) that have SOLD within the last 3 months. This will give you current market price. This is what you should base your offer on - not on list price or type of financing used.

Shanna Rogers
SR Realty
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Mon Jul 9, 2012
Guy Gimenez answered:
One thing to keep in mind is that a buyer's loan qualifications or lack of loan qualifications can't require anything of the seller. The seller decides what offer to accept with what type of financing. I seldom accept FHA financing on my personal sales/flip homes because FHA lending guidelines require too much of my time and money, as a seller, and therefore I usually refuse to entertain FHA financed buyers. My choice, not the buyers. The type of financing you qualify for is unfortunately typical of government sponsored programs...unrealistic and too many unintended consequences.

I hope you can eventually locate a suitable property but due to the requirements placed on the selling side of the transaction under your loan guidelines, your pool of available properties will be severely limited as fewer and fewer sellers wish to be involved in the gamesmanship of these government assistance programs.
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Tue Jun 5, 2012
Dallas Texas answered:
Recommend to contact mortgage broker many more questions require answers. Much also depends on how long you intend to be a resident of that property. There are additional fees you need be aware of

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer

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Fri Jun 1, 2012
Fred Glick answered:
Not really because the MIP is much higher now.

Even with the rates lower, you may be paying the same.
0 votes 8 answers Share Flag
Wed Mar 14, 2012
Ron Thomas answered:
You will need to know the amount of the Appraisal before you are through:
If you inflate your offer and increase the Seller contribution at the same time; you will need to hope that the Appraisal will cover the higher figure.
If you have an Appraisal Contingency, you will be covered for that.
Also, your Pre-Paid Taxes will decrease each month until June and that will decrease your Closing Costs.

You must have already made your Offer, and surely you did your diligence and know what the Market Value of the Property is; otherwise you wouldn't know that the Bank will only go 3%.

The Bank probably has a low tollerance for playing games and you will have only one chance to get this.
Depending on your LOAN, you should be able to hold this together, You're close.

Good luck and may God bless
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Wed May 9, 2012
Dallas Texas answered:
Lease purchase no Realtor would recommend those transactions. Best to search for a property or apartment to lease. Direct link

Dallas homes for rent Dallas TX

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
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Sun Jan 1, 2012
Phil Rotondo answered:
Easy! Ask a local Realtor.
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Fri Dec 18, 2015
Liz Renfro answered:
It really does depend on your needs and wants. If you need a backyard, you should continue looking. If you are working with an agent, your agent should run a comparative market analysis on the sold homes in that area. If the average sale price is alot lower, and the house is not updated, then obviously, you are not getting a good deal. If you are not already working with an agent and would like my help, please do not hesitate to call.
Liz Renfro
Realtor at William Davis Realty
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Mon Sep 26, 2016
David Tansey answered:
There are no contracts put out by the Texas Real Estate Commission for realtors to use so we generally don't do them. Most rent to owns are done by owners selling their ownproperty. I would search for sale buy owner listings. Just fyi, these are genrally not the best deal. I would look at downpayment assitance programs in your area. There are programs that will give youo a grants you don;t have to pay back. Example:
Contact a local lender or realtor they can help you.
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Tue Feb 24, 2015
Lyle Wolf answered:
They are looking for an indication that you have the ability to pay your monthly rent payment each month and can be trusted to pay it not only consistently but on time. Your track record in the past can be an indicator of this going forward. When you rent a home you are getting the right to live in somebody else's property that may be worth many hundreds of thousand of dollars for a "promise" to pay rent each month during the lease period.

If you are trying to buy a property and need a mortgage to do so, the lender will run a credit report to determine the risk of your paying back the loan each month. They want to see all your debts, how much you owe, do you pay them on time, and have you every defaulted or not paid back any loans.
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Mon Dec 20, 2010
Don Tepper answered:
I can't comment on RMCN Credit Services specifically. But no company can "fix" your credit in 30-90 days. It won't happen.

Take that $2,000 and pay off any outstanding/late debts. Talk to your credit card companies directly. Try to negotiate a lower lump-sum payoff from your creditors. Buy a book or two (tons of them on Amazon) on how to repair your credit.

But you might as well flush that $2,000 down your toilet as expect that you can get your credit fixed in 30-90 days.

Hope that helps.
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Sun Jul 4, 2010
Cameron Piper answered:

You might try contacting the Wellington Park Homeowners Association, I am sure that they would have that information:

(972) 218-9255

1320 Arbordale Ct
Lancaster, TX 75134

Good Luck!!

Cameron Piper
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Tue Jun 29, 2010
Robin Silverberg answered:
Unless someone comes on to say that they are bankers who sell directly to the Ginnie Mae pool, and have seen them accept as low as 540, which I doubt, you are not being realistic. What you should think about is working on improving your credit score. You can start by making on time payments. Next, look at any collection accounts or charge-offs that you have, and pay them off. Don't negotiate a lower payment, because that does not really help you. It will stay on your report as paid for less than agreed. I know that there are some people who will tell you not to worry about older accounts, but I don't agree with that. If you have credit cards that are still open, use them and pay them, not only by the due date, but the day you get the bill. All of this will help raise your score.
Last year, a friend of mine who was going through a divorce had me run her score, and it was a 585. Mostly this was because of late payments. We looked through what she had, and what was still open. I told her to take the cards she had, use them for a relatively small purchase, and pay them off right away. By 6 months ago, her score rose to 665, which was fine for what she was going to need to do. She now has her house sold, so I ran it again, and she has a 712.
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Sun Jun 6, 2010
Robert Regan answered:
You've already completed the most crucial step by posting on a website where you are sure to receive quite a few Realtors interested in selling or renting the land. Please feel free to contact me so we can discuss how best to to market the parcel and work in the contingency of maintenance.
I pride myself on thinking outside the box.

Rob Regan
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Fri Feb 19, 2010
greg answered:
Unless you have a restrictive covenant on the property prohibiting a sale within a specified period of time, there should be no obstacle in selling your home right now.
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