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Waterville : Real Estate Advice

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  • Home Buying7
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Activity 8
Wed Oct 17, 2012
Marilia Sardinha answered:
Please contact Spectrum Property Management, they are wonderful and will help:

Or call Ken Lavoie's company at 872-2368. They also rent multiple family properties and might be able to help you, very nice people too. Good luck and all the best in your future. ... more
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Mon Jul 2, 2012
Jill Huard answered:
What is your price range? I have a 2 bedroom apartment, heat, sewer & water included. No pets, no smoking. $700. Very clean, ful kitchen & bath, second floor.
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Mon Jul 2, 2012
Jill Huard answered:
Try Jayne and Cathy are great to work with, and they might have something that meets your needs!
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Tue Apr 24, 2012
Terry Driscoll answered:
There are a couple "purchase + improvement" loan options: FHA 203K and Rural Development(RD) are the ones we usually see. Sometimes you see RD combined with Maine State Housing (MSHA). Contact a few local lender to see if they offer those products in your area and to get a full explanation of how it works. ... more
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Sun Nov 29, 2015
Marc Chadbourne answered:
Kennebec Savings for conventional financing 207-872-5563 (Tracy Warren)
Kennebec Federal for FHA, 5% down or less 207-873-5151 (Darla Frost)
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Wed Feb 8, 2012
Mh Solutions Inc answered:
It's a tough spot, and unfortunately many of our clients have the exact same dilemma. Lenders do offer alternatives but most of these are available when borrowers fall behind on their payments. Counterproductive as it may seem, this is generally the case. One thing you could try is to negotiate with your lender for reduced monthly payments. This is a normally time consuming and frustrating, unless you have your mortgage with a local lender. The large national lenders are so overburdened these days that communicating with them is often very challenging. They will likely ask for your personal financials in determining whether this is an option, and may not even consider it at all when current on your monthly payments. Be very careful when considering Deed-in-Lieu. This affects your credit rating the same way a foreclosure does. In fact, Deed-in-lieu can be categorized as voluntary foreclosure. Lenders still need to approve Deed-in-Lieu transactions, and we have seen instances where the lender refused to take the property back. One has to remember that lenders are in the business of lending on property, not owning them. Bank of America, for example, really doesn’t want to own your property in Waterville Maine this winter. Most lenders will consider a short sale however, but normally only will consider this alternative when the monthly mortgage payments fall in arrears. A short sale is when the lender accepts less than what is owed from the sale of the property, or in other words, they approve a sale that is “short” what is owed. Do keep in mind that these alternatives may have a negative affect on your credit rating. A short sale doesn’t affect a person’s credit score nearly as bad as a bankruptcy or foreclosure, but it does nevertheless. ... more
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Fri Sep 9, 2016
Jill Huard answered:
Hi Bill, have you contacted any local lenders? They may be able to help you, even with your diminished credit score. Call me, I can point you in the right direction!
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Wed Feb 1, 2012
Charlene Hamiwka answered:
Your realtor is talking about a 203k loan. You can get money for repairs after you purchase the house, unlike most conventional mortgages which want the houses in good repair. Not all banks offer those loans so you have to call around.

here is a link to the loan description

hope this helps!
... more
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