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Puritas-Longmead : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 4
Thu Nov 20, 2014
Kena answered:
Yes, I got my loan from UsBank and my house was 32,500.
0 votes 2 answers Share Flag
Wed Jun 1, 2011
Rudy McDowell answered:
Hi, Kmez. Because you are currently unemployed, you will not be eligble to go on the mortgage. Therefore, and depending on what her credit score and history are like, only your wife would be able to secure the mortgage. However, if this is important to you, you can still be added to the tile/deed after you close.

So the next step would be for your wife to set down with a licensed and experienced loan officer to determine her eligibility. In order to do this, the loan officer will need to pull and review your wife's credit score and history, and be provided with the necessary documentation (i.e. most recent 30 days worth of paystubs, bank statments, last 2 years of w2s and fed tax returns) to verify her employment, income, and assets.
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Wed Apr 29, 2009
Bob Kienast answered:
If your landlord is not making the payments you will eventually be evicted by the county. I don't know the legal ramifications of breaking the lease ( if you have one ). If lines of communication are open between you and the landlord, work out an agreement...but don't wait for the sherriff to show up to show you out. ... more
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Wed May 28, 2008
Don Tepper answered:
First, get a good lawyer.

Second, ask your Realtor what the status is.

Third, if your Realtor doesn't know, ask the seller what the status is.

Fourth, I'm unclear whether this was an actual short sale, or whether the seller was expected to bring money to closing, and didn't. I'm not a lawyer, so this isn't legal advice. However, if it was a short sale and payments aren't being made, it's headed to foreclosure and soon the bank will own it. If it isn't a short sale and the seller's trying to round up the needed money, is the seller behind on payments? If so, it'll progress to a foreclosure and the bank eventually will own it. If the seller is current on payments, then you're a tenant in the property. (If so, do you have a lease? You should.)

You really have to determine what's happening to the ownership of the house while you're sitting in it. And, in any case, you need to resolve this as soon as possible.

So: Lawyer. Realtor. Seller.

Hope that helps.
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