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Financing in Madison County : Real Estate Advice

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  • Home Buying1
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Activity 6
Wed Sep 18, 2013
Aaron Sims answered:
I would talk to a different lender. You should be able to use the same appraisal.
Best of luck!
0 votes 6 answers Share Flag
Fri Dec 14, 2012
Debbie Morris answered:
You should check with a local mortgage company or bank for that specific information. Realtors are not experts on finance but do have a good working knowledge of the process and know the local lenders to refer you too. You will need to know your credit score and payment history before you call the lender to speed the process. Good luck. ... more
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Tue May 29, 2012
Ron Thomas answered:
You could built there for exactly $223 per square foot,

plus or minus $200 per square foot.

Surely, you are not serious!
There are just too many variables in this equation.
Contact a Contractor, please; or better yet, several. ... more
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Fri Dec 14, 2012
Scott Butcher answered:
In the eyes of a Lender, a 'short sale' is viewed the same as a 'foreclosure' in that the original 1st lien lender did not recover 100% of their principal amount back from their original loan.

That said, it would be a minimum of 3 years and you would have to re-establish good credit for FHA financing.

3 years is the minimum and each Loan Application is underwritten seperately so you could be eligible at 3 years plus a day or it might be longer depending on why you entered into a short sale in the first place.

Good luck.
... more
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Sat Nov 13, 2010
Mary Jones answered:
We all have been hit by this market melt down but it has effected some more than other. Dont give up hope. I do understand you want to keep your house and you are heading toward the bank foreclosing on your house. One option is your can move out of your house and rent it and find you a place to rent a lower than your current mortgage until you get back on your feet. The last option is instead of the bank foreclosing on your home, you can let me do a short sale your house. A short sale is where I can get the bank to take less than what you owe on the house. I am a realtor and I can list your house for sale for what the bank will accept. Please feel free to call me at 256-650-2004 or 508-2554 ... more
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Mon Nov 24, 2008
David Dweck answered:
That will depend solely on the contract you sign. Always have it reviewed by a Real Estate Attorney so he/she can tell you about the clauses. If you want to get easy access to attorneys for reviews, sign up for a pre-paid legal plan that allows reviews. These are generally month to month plans and that could save you hundreds of dollars. ... more
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