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Middleburg : Real Estate Advice

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  • Local Info11
  • Home Buying15
  • Home Selling4
  • Market Conditions2

Activity 32
Thu Jan 17, 2013
Chance Schubert answered:
I would be more than happy to get you in contact with one of the top agents in that area.
Contact me at 479-696-2392 or chance.schubert@coldwellbanker.com & I'll get you in contact with them tomorrow! ... more
0 votes 2 answers Share Flag
Tue Jan 17, 2017
Joshua Lerette answered:
Hello Brandila13,

We have a program that is taylor made for self employed individuals. I would love to talk to you about it. Please feel free to give me a call.

Joshua Lerette â“ Sr. Loan Officer
Residential Finance Corporation
813.402.4637
Josh.lerette@myrfc.com
... more
0 votes 10 answers Share Flag
Tue May 22, 2012
Jennifer Harper answered:
Thu Jan 24, 2013
Mike Schwiebert answered:
Hi Katelyn,

It really depends on how much money you make on a monthly basis, and what part of town you are looking to move to. If you are ok with moving to an area that will allow USDA financing like Oakleaf Plantation, Middleburg and some other ares in Clay County you may qualify for 100% financing. Give me a call and we can talk more about it.

Thank you!
Mike
... more
0 votes 6 answers Share Flag
Sun Apr 22, 2012
Lisa asked:
2 of the children are handicap and both adults are too (not phsyically)...we need to find a 4bdrm for rent...or rent w/option to buy.....we currently live in Orange Park Fl and is looki...
0 votes 0 Answers Share Flag
Fri Feb 3, 2012
Keith & Kinsey Schulz answered:
Rent-To-Own is great for people who are thinking of buying, but are not quite ready. It gives you time to improve credit, save money, and decide if you really want the property. Typically when doing a rent to own, you put down a small down payment otherwise known as an option fee. This down payment is applied towards the purchase price, and gives you first option to buy the property. Then you pay a slightly higher than average rent, but a portion of your rent is also applied towards the purchase price. So, by the time you are ready to buy, you already have a partial downpayment towards the purchase of the property.

My website is a little out dated and I don't currently have any rent to owns available. Although, there is further info on an example here: http://badgerrei.com/renttoown.htm

In my opinion you are better off buying outright if you are capable. However, this is an option to get you into a home and locked into a price if you think the market is starting to head up in your area. Just be aware that interest rates could change prior to actually executing your option to purchase.
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Wed Oct 26, 2011
Danielle Sharp answered:
While I'm sorry to hear about your brother-in-law's troubles that does not negate your responsibility pertaining to your lease. Talk to your landlord and discuss the situation; it's possible they may allow you to break your lease under certain terms. ... more
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Mon Aug 15, 2011
Dp66 asked:
0 votes 0 Answers Share Flag
Wed Jun 22, 2016
Shane Milne answered:
Q: I have a 578 credit score I have 5,000.00 for a down payment I'm looking at a 90,000.00 manufactured house I have 8 charge off on credit report that I'm still working on what are my chances of getting a mortgage?
A: Unless you are a Veteran or are buying a brand new manufactured home from a builder and putting it on land, not good, but you aren't too far off.

Here is why. With FHA financing you need a 580 score in order to put less than 10% down, and with a 578 score that means you need 10% down which would be $9k on a $90k sales price. If you get your scores up 2 points, then you can just put 3.5% down, which would be $3,150 down on a $90k sales price.

With Fannie Mae & Freddie Mac financing, you need 620 scores, but not many lenders offer manufactured housing under their loan programs, so I would not make that a goal of yours to be able to qualify for if you are only interested in manufactured homes.

With USDA financing, your score is fine, but USDA financing requires manufactured homes to be brand new/never been lived in. I have told you about USDA financing before. USDA Rural Development mortgages are 100% financing, and have no score requirement - however if you go through a lender most will have 620 or 640 minimum scores, but if you go Direct to USDA they do not have any minimum score requirements, but it takes a little bit longer, and in a lot of situations just 12 months of clean credit is needed - Middleburg, FL is an eligible area. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do to check the eligible areas and also if your income is not too high/within eligibility limits as well.

VA financing also does not have a score requirement but you need to be an eligible Veteran.

When did the charge-offs occur? Any within the past 12 months?

I'd suggest you work on improving your credit & scores and you will have more options. To point you in the right direction start with http://www.myfico.com/CreditEducation/articles/ and then visit http://ficoforums.myfico.com/
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0 votes 3 answers Share Flag
Thu Jan 24, 2013
Genevieve Ramachandran answered:
Cathy,
You need to contact a lender or your credit Union. There are many variables in getting a mortgage and estimating how much home you can afford and how much your down payment would be.
Your first step would be to see if you qualify for financing and how much. That way you can plan on the monthly payment and if it is affordable.

Good Luck!!
... more
0 votes 6 answers Share Flag
Tue May 22, 2012
jo answered:
MLS listing is for agents to post the homes THEY are selling...

Good luck with your sale Amanda,
Nicholas
0 votes 5 answers Share Flag
Mon Oct 25, 2010
Jose Morales answered:
Preferred 640 but we have lenders that can go down to 620 maybe even down to 600. Most lenders are at 620 or above. I recently wrote a report titled The Cost of Bad Credit which I can make available to you for free. Call or email me.

Jose Morales
Florida Mortgage Coach
561-432-9237
jmorales@floridamortgagecoach.com
... more
0 votes 4 answers Share Flag
Sun Aug 15, 2010
Debra B Albert PA answered:
I have never seen such a quick process. You can submit a written and signed addendum to the contract to allow a 45 day closing for the FHA loan. Please talk to the broker of the company holding the listing and verify with them that this is what you want to do.

A quick close is likely to happen with a cash sale, and the bank will KNOW that it is impossible for a FHA loan to close in that short period of time.

Best of luck

Debbie Albert, PA
Coldwell Banker Residential
... more
0 votes 5 answers Share Flag
Sun Jul 18, 2010
Cameron Piper answered:
Kayla,

Unless you have something better to go to, hang in there and see what happens. Those people who are the most patient are the ones who get the best deals. There really is nothing that you can do to speed up the process except to stay on top of everything that your agent ask of you. Good luck!!

Cameron Piper
... more
0 votes 3 answers Share Flag
Thu Oct 1, 2009
Scott Sullivan answered:
Jim,

Yes, I believe your viewing the page adds to the number of total views. I work for Prudential Network Realty which is has an enhanced presence on a number of websites including Trulia. I am able to provide a weekly report to each of my sellers showing them the number of times their property was viewed on all of the websites where we have an enhanced presence. The report shows the number of times it was returned in web searches., the number of times buyers clicked on the property for more information and the number of times it was saved to buyers' portfolios.

I did a test where I searched for my sellers' properties and then saved some of them so I could see the impact. My activity was registered in the total numbers.

One of the seller's I worked with last year listed vacant land for sale in Green Cove Springs and I will tell you that it doesn't get that many hits on a weekly basis compared to residential homes, because the number of people looking for vacant land is much less.

Hope this helps.

Scott Sullivan
Realtor
Prudential Network Realty
3535 Highway 17, Suite 10
Fleming Island, FL 32003

C: 904-327-5676
O: 904-269-1716
Scott.Sullivan@PrudentialNetworkRealty.com
... more
0 votes 1 answer Share Flag
Sun Aug 15, 2010
Jenny A. Le answered:
Are there 2 different banks holding 1st and 2nd liens to the property?

Or, is there just 1 bank holding 1st and 2nd liens to the property?

When a loan is in default, the bank is in a loss position. So at this stage, it is trying to minimize its losses.

So if there is a different bank holding the 2nd lien, it is to that bank's benefit to negotiate for "any" amount. If the loan goes to auction then into REO status, the 2nd lien bank will have a complete loss...it wouldn't even have the $3,000.

You need to get your agent to negotiate aggressively with the 2nd lien bank because at this stage...it is just a numbers game i.e., how much goes into which pot?

The general price trend in the Middleburg, 32068 area is down. So it does NOT benefit the bank to look for another buyer in a down trend market, which will results in a much higher loss for the bank(s).
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0 votes 8 answers Share Flag
Fri Jul 10, 2009
Blaine Rabe answered:
Hi,

It is sort of a rare bird you are talking about, You should put the home on the market, and then chose that as an option for the purchase. Then if it works, fine, if not you can decide whether to sell or not.

Regards,
Blaine Rabe
904 874 0814
... more
0 votes 1 answer Share Flag
Tue Jun 30, 2009
Blaine Rabe answered:
Hi,

In Florida you have a reduced tax rate, as part of our Homestead package. Presently there is the $8000 first time home buyer, assuming you are new here, etc. No sales tax advantage.

Regards,
Blaine Rabe
904-874-0814
... more
0 votes 2 answers Share Flag
Wed Jun 10, 2009
Tara and Tim Bebinger answered:
Be sure to ask to speak to the manager from the 2nd lender (lienholder). They're usually the one that makes the decision. Be the squeaky wheel!
Tara Bebinger
Keller Williams Consultants Realty
www.TNTsellsColumbus.com
... more
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