 I bought a real estate lemon! been in the house 4mths. what can I do? can I give it back? grace periods? |
| we paid 120,000 for a damaged foundation leaky roof and pipes. we have only been in the house for 4 months. Can we give it back? is there a lemon law in Texas or some kind of grace period?... |
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 How many homes should I look at before I buy? |
| is there any fundamental s to follow when you are looking to buy a new ... |
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 Neighbour keeps parking his white van so partial access to my drive way is blocked? |
| Bought the house a year ago in a small courtyard of 8 houses and at the time the neighbour with the van was already here and parking his van on the road in the entrance to the culdesac, Raised it ... |
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 I want to move to new york!!!!? |
| i'm 25 yrs old and i live in miami but i want to move to new york. i have a stable job that i can transfer me to new york. i make pretty ok money and i know i can afford a lil more then 1000.00 ... |
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 Can ex seize my home? |
| Bank wants to initiate foreclosure proceedings on expired construction loan in my ex-husband's name on the home I was awarded in divorce and was quitclaimed to me. I was paying interest only ... |
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 Can I get more than one mortgage pre-approval? |
| I'm just starting the home-buying process. Can/should I get multiple pre-approvals from different banks to see who would offer me the "best deal", or do I have to pick one and stick ... |
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 Housing Market Crisis??? |
Don't wanna offend anybody,,,,But I guess I'am old fashioned...Why is the Government helping these people???? 1st Your house isn't an ATM machine
2nd If U can't afford the ... |
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 I owe $431k on a rental, can't make the payments anymore and no buyers, what options do I have? |
| I owe $431k on the rental property, My rental income is $3000 but my payment is $4000, Can't continue making the payments, Due to the market no one will buy my property for $431k, What can I do?... |
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 Who Should pay closing Cost? |
| I am a buyer and I want to ask that the seller pay closing cost but my realtor keeps telling me to just pay it myself to make the offer prettier. What do you think?... |
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 How do you keep from feeling totaly desperate when your house won't sell? |
Additional Details
Our house is located in the Denver area. We can't afford to lower the price as it is at the price we need just to break even. I need real answers. My husband and ... |
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 Is it wise to invest in rental property 5 hours away from my residence.? |
| I can better afford to invest in real estate away from my hometown. I live in New Orleans and for various reasons want to invest outside of my area. Is it realistic to think about purchasing a ... |
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 Can I cancel PMI if I've done home improvements? |
| If I had a 100% loan for $100,000 and made $20,000 worth of home improvements within the first year, can I get my lender to cancel PMI?... |
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 Landlady not returning the deposit? |
| I vacated a flat one and half month back and the landlady is not returning the deposit £700 saying the flat was dirty and says there is some damage which I don't agree with. I told her she can ... |
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 Should I stay or should I go? |
| Four years ago I purchased my retirement home in Durham North Carolina. The mortgage on the home is 460.00 (4 bedrooms huge backyard). My rent here in New York City is 1200.00 (1 bedroom, not too ... |
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 I am in a desperate need of a loan......? |
| We lost our house on sep due to an irresponsable landlord, he didn't pay the mortgage for 8 months and we didn't know about it, so we got kicked out on the streets with only a couple of ... |
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kathy B | Mortgage and credit score? |
I have a 721 credit score but my husband filed bankruptcy at 2004 how do we get a $300,000 house?
Additional Details
thanks everyone, also my husbands score is 600 average. bankruptcy was discharged 2003. I want to include him in the loan so he can rebuild his credit also. |
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Alex Myers
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With the bankruptcy being discharged in 2004 that shouldnt stop you from getting approved. There is still 100% financing available and interest rates are still awesome. Don't believe all the bad news you hear on the news. There are a lot of deciding factors that come into play when getting approved. First time home buyer? credit score and rating? Any money down? If you have never owned before then I wouldnt recommend a conforming loan. There are a lot of options available to first time home owners and people who havent owned in the past 3 years. If you currently own or have owned in the past 3 years, a true mortgage professional will lead you onto the right path to getting your credit to where it needs to be or at least taking the necessary steps to getting you approved.
There are also programs out there that allow you to use the higher credit score of the two borrowers while still using both incomes for qualifying purposes.
Alex Myers
Synergy Mortgage Group
(877)428-3328 |
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dramboldt
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With a 721 FICO score and a bankruptcy over 2 years ago, you really should not have any issues getting a loan unless the bankruptcy was filed in 2004 but not yet discharged as in the case of a Chapter 13.
With a FICO that high, you may be able to qualify for a Stated Income/Stated Asset loan by yourself provided you can prove you are employed. You would not have to provide income or asset documentation to your lender and since your credit score is high, you would be eligible for a similar rate than if you applied traditionally. Still a fixed rate fixed term loan as well.
Check for a lender who is reputable and ask lots of questions. Don't settle for a high rate loan. |
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Chris
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Easy answer: find a broker you can trust. Well, easy answer, not always easy to do... :)
I'd need more info to give you specifics to your situation, but there are many options for you both. Sit down with a good broker, go over ALL the details, and see what the market has to offer. Chapter 13's are difficult, but not impossible to work with. |
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RickRN
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If you have a large enough downpayment, you may still be able to find someone to do a "no documentation loan". I doubt it though. They all got screwed and went out of business. Unfortunately, you can't not pay your bills and want to borrow money again. Sorry. |
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michiganted
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You don't mention your husband's credit score. If his score has recovered to above 620 he should still be able to be on a conforming loan with you. If possible see if you can qualify for a fully documented conforming loan with both of you.
Find a reputable mortgage broker and let him/her go to work. Answering this question is their job. |
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elitesouthwest
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get rid of him..your score is great |
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Yanswersmonitorsarenazis
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If his BK is over 3 years old, you'll likely still get approved for A paper conventional financing. Standard is 4 years, but their automated underwriting systems regularly approve loans with as little as 2 years from discharge.
At that point, they look at other things more, like cash reserves (often more important than downpayment!), and debt ratios. |
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Kola
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apply for a stated income loan under your name only! |
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