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Norco : Real Estate Advice

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  • Local Info3
  • Home Buying11
  • Home Selling0
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Activity 21
Fri Apr 12, 2013
Dora Beck answered:
Hi Robert,

I would be happy to assist. What cities are you looking at and how soon do you need to move? Call me to discuss. 951.675.8734.

Dora Beck
Salem Real Estate
Broker/Owner
DRE #01772245
www.salemassetmanagement.com
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Fri Sep 6, 2013
Devona Garrigus answered:
Its sounds like an eviction will need to processed. It can take months to evict tenants, especially when they have a valid lease or rental agreement, even if they are no longer paying rent. ... more
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Mon Oct 22, 2012
Barbara Provence answered:
Right now I see 2 bedrooms in Mission Viejo going for 1500 per month and up. Is that the city you are looking in? Have you looked on Craigslist? I know many landlords post there.
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Thu Oct 4, 2012
Greg & Dawn Dove asked:
This question was asked from http://www.trulia.com/rental/3097221796-1434-Valley-Dr-Norco-CA-92860
0 votes 1 answer Share Flag
Fri Feb 15, 2013
Brett Ehart answered:
Thu Mar 24, 2011
ScottSchang answered:
Brian, FHA maximum automated approval DTI is 56.99% - and you may only purchase an owner occupied primary residence using FHA financing. There are not too many exceptions and compensating factors would need to be present to allow this high of a debt to income ratio.

Also, when you say "second home" - is this a vacation home? Do you have FHA financing on your other home? These questions may come up from your lender.
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Wed Jul 30, 2014
Thaddeus Kuznicki answered:
There are many tricky things that you might be seeing in this situation.

First of all, to begin the short-sale process, many brokers have taken a offer to 'get the ball rolling', but these initial offers don't always lead to the final purchase.

Another problem with this situation is that the short sale process has been know to take up to 6 months (Bank of America). This leaves a lot of time for a home to be vacant, or as you previously saw, it being used for 'free' living by family because they are assuming that the bank will take it anyways.

Another problem that you will be facing is that most likely there is something listed on the property information that will say that the "property is being sold as is". This may be worded differently, but it means the same thing....that you will be buying it at the bank's discression and you will not be able to force anyone to fix anything that may be newly damaged.

On the last topic, many banks are not guaranteeing that the foreclosure will be post-poned at all.
There must be a serious amount of due diligence on the agents end to make sure that this process goes smoothly. Our company has done several of these deals and has been able to learn that it is getting harder and harder, but the results usually are worth it if you are dealing with the right peple and are willing to be patient.
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Mon Mar 21, 2011
Jane Grant answered:
There are many areas in Riverside County that have mansions and qualify lifestyles. There are also many golf course homes available in Southwest Riverside County. www.soreal.biz
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Fri Jun 11, 2010
Diana Margala answered:
If the property has been owned for more than one year, then the answer is yes.

The agreement for you to pay the rent is between you and the landlord. It really doesn’t have anything to do with weather or not he pays his mortgage payment. He may not be paying his mortgage in order to provide leverage to work with the bank on a loan mod. If the home completes the foreclosure process and you have a lease, then he could be liable and your recourse would be to take him to small claims.

This is my understanding; however I would suggest that you check with a lawyer for more clarification.


Diana Margala 909-560-0145
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Sat Jun 5, 2010
Emelia Sanchez answered:
Chris,

Get another lender you still have 3 1/2 weeks. Many can close in as little as 3 weeks even if it is FHA.
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Tue Apr 26, 2016
Ray Wright answered:
Here's a funny but true story.

When I was a child my mom went to the grocery store one day, leaving my dad and I home. A knock came at the door and when my dad answered, he found it to be a local Realtor. She explained that her client was interested in a particular floorplan and had made an offer on a house down the street. Unfortunately, the buyer was out bid by another buyer. The Realtor went on to explain that our home was the exact same floorplan of the house the buyer was interested in and wanted to know if we had considered selling our home. We had not, however my dad allowed the Realtor to show the home to her buyers who were waiting in the car. At the end of the showing, the buyers made an offer to my dad. He accepted and signed the contract with the Realtor right then and there. When my mom arrived home with the groceries, I was sent to my bedroom while my mom and dad "discussed" his actions. When it was all said and done, my mom agreed to the sale and we moved 45 days later into a much larger/nicer home.

There were two things I learned that day. 1) NEVER make a major decision without consulting my wife first. And... 2) ALWAYS go the extra mile in order to find the perfect home for my buyers.

If you need someone to go that extra mile for you, please don't hesitate to let me know. Feel free to email me the street or area you are specifically interested in and we'll see if we can make something happen.

I look forward to hearing from you soon!

Regards,

Ray Wright
Keller Williams Realty
Direct: 951-354-1303
Email: RayWright@kw.com
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Tue Jun 9, 2009
Diana Margala answered:
Santiago:

Good credit is important in purchasing any property. First it establishes weather or not you even qualify for a property. Second it helps to establish what interest rate you will pay for the property and third it lets the seller know which offer might be the better offer and most likely to be completed, so good credit is always important.

There are 3 major ingredients in establishing what interest rate you are going to pay. First is the amount of money you are going to put down. Second is your credit score and third is your debt ratio. If all of those are within the guidelines that the lender uses and all of your information is documented and true then you get the best interest rate. Then the property has to qualify by being appraised for the amount you offer.

Good Luck:
Diana 909-945-5763
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Wed Jul 22, 2009
Sharon Koziel answered:
There is currently no home listed in Norco for $100,000. The lowest priced home on 3rd street is 1220 3rd ST Listed at : $158,500 2bedrooms/1Bath, Built in 1959 Home square feet is 746 Lot square feet is 2,613. This information was taken from MRMLS and is not guaranteed. ... more
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Tue Jun 2, 2009
The ACG Group, Realtors® answered:
I wish I could answer, but will need more information. It depends on what's on your credit and where your score is. I do have a program that will help you restore your credit at a very reasonable cost (I refer you to a company that has a very good track record). Call me if you want to find out more and to determine whether you can qualify for a mortgage with your credit as-is: 877.264.4383 ... more
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Wed Mar 25, 2009
Walter 'Skip' Kersten answered:
Hi KG,
Q 14. Are two unmarried individuals both eligible for the first-time homebuyer tax credit if they buy a house together?

A Yes. Two or more unmarried individuals can buy a principal residence together, but the maximum tax credit for all of them is only $8,000. If all co-owners qualify as first-time homebuyers, they must allocate the $8,000 tax credit between themselves in any reasonable manner. According to the IRS, a reasonable method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit (see IRS Form 5405).

Hope this helps,
Walter
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Thu Nov 6, 2008
Dallas Texas answered:
It is difficult to determine up to the property owner determine what to do. You need to be pre-approved to participate in auction have your lender letter with you.
http://www.lynn911.com http://www.homes-for-sale-dallas.com ... more
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Fri Oct 22, 2010
Lew Corcoran answered:
Try calling the Norco First Time Homebuyer Program (FTHB) at (909) 270-5645.

The state of California does not currently offer first time home buyer grants. They do, however, offer low-interest loans to first time home buyers who meet certain income limits. To find out more, visit the California Housing Finance Agency website at http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm. Also visit HUD’s Homeownership Assistance website at http://www.hud.gov/local/ca/homeownership/buyingprgms.cfm for available first time homebuyer programs. ... more
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Wed Jul 30, 2014
Rayea Pieschel answered:
The banks are on overload for foreclosures and short sales. If it is a home you love and are getting a deal, as hard as it may be, have patience. It will pay off for you.
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Sun Jun 8, 2008
Keri S. Abbott answered:
Hi, the property tax base rate in Norco is 1.25%. If you have any more questions contact me. Have a great day!
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Tue Apr 1, 2008
Dot Chance answered:
Michele, how did you know what you were agreeing to when you moved into your home with the language barrier between you and your landlord? Did you sign a lease?

You should do a google search on landlord/tenant rights for your area and see what he came up with. If neither of you understand what the other is saying he may think that he rented you the house only and you may think that you rented the entire property.

Again, you may also want to post a message on www.LawGuru.com and ask an attorney your questions.

My answers to you are based on the info you have given me and are my opinion only. It is hard to know how to answer sometimes without seeing the paperwork involved.

I'm so sorry for your troubles and wish you well - hope you get it all straightened out soon.
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