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Margate : Real Estate Advice

  • All116
  • Local Info13
  • Home Buying32
  • Home Selling1
  • Market Conditions5

Activity 30
Tue Dec 11, 2012
Paul DiCicco answered:
On the agreement of sale that you submitted to the seller, what was the settlement date that you requested? Most agreement of sales will say on or before a specific settlement date. After you get through the inspection and mortgage contingency periods, and all parties agree, you can settle. If you're buying in NJ, then you need an attorney. A reasonable time frame is 45 days. Good Luck. ... more
0 votes 1 answer Share Flag
Tue Nov 20, 2012
Ron Thomas answered:
This is not entirely true:
2-3 years ago, everyone, including Appraisers, eliminated Shortsales and REO's from their list of Comps. The "distressed" sales were distorting the market, and we want to exclude them.

It would take an MIT Program to figure out what a house would/should be worth now without distressed houses taken into account:
It would not be just a matter of not using SS and REO's as comparrisons, because every sale for the ;ast 3 years has been affected by the distressed sales. Even a "traditional/normal" sale has been lowered.
At their peak, SS & REO's accounted for 80% of the sales, so no one could effectively ignore them any longer.
You can't say that a house that was worth $1,000,000 in 2005, and is now "worth" $550,000 does not have a "foreclosure discount".
But, like I say, it would take an MIT Program to calculate what any house should be worth:
It's not fair, but it is REALITY!
... more
0 votes 1 answer Share Flag
Tue Oct 23, 2012
Alison Hillman answered:
Hi Ingrid,

Are you looking to buy or rent?

I am happy to help!

Cheers,
Ali, Community Manager
0 votes 3 answers Share Flag
Mon Jun 25, 2012
Jacqueline asked:
Fri Jun 22, 2012
Marge Bennett answered:
would appear so, but you really need to contact your lender.
0 votes 3 answers Share Flag
Fri Jun 22, 2012
Ron Thomas answered:
You are confusing a VERBAL CONTRACT with a real Contract:

A Verbal Contract is no contract at all; it is not binding. Only when put on paper is it binding.
Up to that time, and it is signed; either party can change their mind. Including you.

Good luck and may God bless
... more
0 votes 7 answers Share Flag
Mon Jun 18, 2012
Joan Tole answered:
Usually if your lender is a reputable well known "lender" or Bank, this would not be so necessary. but so many prequalifications come out and this could have possibly become an issue with them later on in the transaction after you have put in expenses like inspections, appraisals and etc. Take a good look at the standing of your lender and go over this issue with them and try to work for a "committment" letter. A committment is WAY stronger than a Prequalification or PreApproval.. Another potential issue is going to be your appraisal........ ... more
0 votes 6 answers Share Flag
Sun Nov 20, 2016
Stephen McRory answered:
It's been that way for a few years, if you make under 100k. That was why the 80/20 loans with NO PMI were so attractive.

Though I close FHA loans, with the FHA 1.75% Financed MIP Fee ($5,200 on a 300k loan amount in basically Gov. Points), plus the monthly MI payment, FHA is actually a very costly loan.

But it’s the only tool in the toolbox for many. But most have options they are never educated about.


Loan options at: www.pro-option.com
... more
0 votes 2 answers Share Flag
Sat Jun 16, 2012
Howard Vogin answered:
They can ask you to get pre-approved to ensure that you are a qualified buyer. It may not hurt, they may get you a better deal than you have from your lender. The law is complex on this issue about concessions and lenders. Your agent or their broker should be able to resolve. You asked for 4% and they came back with 2% and title, which is pretty close. It is part of the negotiating process. If you need further help feel free to ask.

Thanks
Howard Vogin
www.voginteam.com
... more
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Wed Jun 27, 2012
Tyoung91 answered:
Yes, there are many local day care and pre school centers to choose from. Discovery Preschool and Chesterbrook Academy to name a couple.
0 votes 1 answer Share Flag
Fri Jun 1, 2012
Carlos Vazquez Tent answered:
of course but you must pre qualify and then it is a plenty of this houses in the market now

Carlos Vazquez
Coldwell Banker of Weston
954-297-4001
0 votes 3 answers Share Flag
Mon Apr 23, 2012
Martha McCarver answered:
I suggest you Google, "renters rights" for your state. The law protects you somewhat from being thrown out on the street. However, ignorance of the law is no excuse. The new owners will most likely contact you very soon. At that point, you should know your rights and how long you can "squat" on their property. Absolutely not more than 30 days, most likely. ... more
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Tue Sep 6, 2011
Shanna Rogers answered:
Hi Kimhouse,

That's a decision only you can make. Can you afford the payments? Can you sell it? If you let it go (I'm assuming you mean foreclose), is it worth ruining your credit? Maybe you could rent it out if you can't sell it? You might want to talk to your lender (not sure of your circumstances as there's not much information in your question) and you might want to talk to a local Realtor.

Good luck.

Shanna Rogers
SR Realty
www.RealtyBySR.com
... more
0 votes 1 answer Share Flag
Sun Sep 11, 2011
Bruce Lang answered:
Google the address and you will get other sites with more complete info. Otherwise contact the listing agent or your agent for help.
0 votes 5 answers Share Flag
Thu Mar 24, 2011
Alma Kee answered:
Contact a different lender. www.KristineBredeau.com with HomeBanc does their own approvals so you can get this approved a lot more easily than going through a mortgage broker that does not actually lend money. Call her today and you may be able to close quickly.

Good luck and tell her I sent you.

All my best,
Alma Kee, Future Home Realty
... more
0 votes 0 Answers Share Flag
Sat Feb 26, 2011
Angela Schrager answered:
Glenn.. you haven't specified a property, but you seem to be looking in Margate. Margate is on the Atlantic side of Southast Florida. You'd be about 8 miles from the beach (approx 15 minutes).

I hope that helps.

If you'd like me to help you find a property, please let me know.

Best regards,

Angela
Villa G Realty, Inc.
Tel: 954-816-7996
... more
0 votes 6 answers Share Flag
Fri Nov 5, 2010
Michael Messineo answered:
Bm,

Has your 2nd mortgage agreed to a short refi? I can help but I will need more information. Please call or send an email.
Thanks
Mike Messineo
Nola Lending
941-586-5384
mm@nolalending.com ... more
0 votes 2 answers Share Flag
Thu Jun 24, 2010
Don Tepper answered:
You have to go through your lender for the HAMP (Home Affordable Modification Program) program.

The government web site for the various programs is http://www.makinghomeaffordable.gov/ It's possible a HUD-approved housing counselor may be able to help. From the government's web site:
~~~~~~~~~~~~~~~~~~~~~~~
A HUD-approved housing counselor will talk to you about your situation and help you decide what mortgage options are best for you. A counselor will explain what documents you will need to provide to your mortgage company and may be able to contact the mortgage company on your behalf.

If your daughter is delinquent on her mortgage, here's the number to call: 888-995-HOPE (4673)

Hope that helps.

A housing counselor can also help you make a budget so that you can meet your monthly mortgage payment and other expenses. The counselor will have information about local resources that may be helpful to you.

There is no charge to work with a HUD-approved counseling agency.

HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, credit issues, and reverse mortgages.
~~~~~~~~~~~~~~~~~~~~~~~~
Here's a link to finding a HUD-approved counselor: http://www.hud.gov/offices/hsg/sfh/hcc/fc/
... more
0 votes 1 answer Share Flag
Wed Mar 31, 2010
Jeanne Feenick answered:
You may not be able to be approved for a mortgage with poor credit, the criteria is more stingent than ever. But to get your answer you need to sit down with a reputable mortgage rep.

If you don't have one - ask your agent, she should be able to recommend several.

Good luck,
Jeanne Feenick
Unwavering Commitment to Service
... more
0 votes 3 answers Share Flag
Sat Jan 16, 2010
Susie Smith answered:
You both have to be willing to sell the property to do a short sale.
Since the bank did the modification they may not be willing to do a shortsale. The Sellers have to qualify for a shortsale. You need to talk to the bank and find out what documents they need from you and your wife in order to qualify for the shortsale. I would be happy to provide a market evaluation if you both are willing to sell. You are not released from liability of the mortgage with a loan modification unless they put the loan in her name only.

Susie Smith
954-558-4774
Suesmith@gate.net
... more
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