Albert asked:


I’d like to purchase a townhome or condo in about a year or so. I don’t have much in savings, and will be free of credit card debt soon. I have a great FICO score (720), and I’m GUESSING that I will be able to secure at least a $150000 loan from my credit union. I won’t be looking for a place more expensive than that.

My question is this : as far as the down payment goes, should I add that in to my loan application? In other words, if the townhome is $150000 and the down payment is $30000, do I need to request the $30000 up front, or do I need to be able to pay the downpayment with cash or other liquid assets? I hope I made this clear.

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olufemi a asked:


Choices
A)keep the property in good repair.
B)pay all realestate taxes as they are due
C)provide unlimited access to the mortgage
D)not destroy or remove any improvements securing the loan

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Greg MS asked:


I purchased a piece of property, and secured a construction loan to build a home as an investment only. The realtor who led me into this provided false and deceptive information, but I did not find this out until a couple of days ago. The home is only a couple of weeks from being finished. Promises were made to me, that I now know will not be fulfilled by the realtor. Even the broker in this case believes that I was misled, deceived, and given false information. He showed up extremely late to our closing, and has not come to any of our walk thrus with me - basically has done absolutely nothing. The realtor will receive his comission once my loan goes from construction to perm. He is looking at receiving about $12,000! I do not believe that he deserves this comission, and I would like to know what kind of legal action I can take against him. I promise this is not just a case of a disgruntled home builder, or a clash of personalities. Thanks for any advice.

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Think about it asked:


as in if after foreclosure previous owner is still left with balance due to 2nd mortgage holder (property value had dropped) can they come after former homeowner or is their right limited to property the loan was secured by?

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Suzie asked:


I have a guy who wants it but hasn’t secured financing yet. I know he’s really trying but the weak economy and housing market has me concerned. Should I just go ahead and list it or give him time to get a loan?

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brufus1953 asked:


tried to record the deed I discovered it was a xerox copy which could not be recorded. This friend knew what he was doing and refuses to give me the original, and he is 2 months late in repaying me the full amount. He has made a payment of $8000.00 but refuses to pay any more. Is this a criminal act of fraud and can he go to jail for this? His intentions were to give me a xeroxed copy so I could not record the deed.

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Kate373 asked:


My parents bought their home 4 years ago at a 4% rate, which is due to change next year when their loan rate. With the market crunch and the new strict lending that’s bound to occur as a result of this, they are worried about what refinancing has in store for them. The good news is that they have flawless credit (they successfully removed their PMI, and they are early every month on their mortgage payments —and they pay an extra couple of hundred dollars than they should. Not to mention their credit card debt is very low (only a couple of thousand dollars). They’ve both been at their great paying jobs for over a decade; but they are still worried about whether they will be able to secure a decent fixed rate when their mandatory refinance is up. Any hope?

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Eric MD asked:


Sell my name from a deed. I am trying to get sell my name off my dad’s house deed for 2,000. Ony because i got a loan, and now i have to secure it with a co-singer or a fee of 1,800. So if anyone knows how i can do that,please let me know. Thank u

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thomas_packers asked:


My broker waited till the last minute to get on ACE to obtain my certificate of eligibility through the VA. My new home closes in two days and he wants to delay the close by two weeks.

I read somewhere online that a VA loan can still be processed without the certificate. Does anyone have experience with this?
My information wasn’t available through ACE. My mortgage broker has to request it manually.
I know….I know. When we went with this builder, we agreed to use one of their lenders. If we couldn’t get approved through them then we could utilize our own.
Prior to the pre-approval I told the mortgage broker that I was going VA. He sent the pre-approval to the builder FHA. I rejected it, delaying the ground breaking for another two weeks until the new pre-approval for VA arrived.
I sent him a copy of my DD-214 immediately after the pre-approval because I knew he would need it. One week before the scheduled close he calls me to come down to his office to sign the VA forms, which rightfully we should have been doing at least two months prior to close. He didn’t even call. He sent an email to myself and CC’d the builder that he needed to manually get the certificate and would need to delay the close.
The builder is not happy at all as this broker was trying to be their preferred lender.
He’s very unorganized. He had Rubbermaid tubes in his office Vs. filing cabinets. :(

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BlueMermaid asked:


I am selling my house ( sale by owner ) and the person buying is putting $5,000.00 down and wants to put up his SUV to secure the rest of the loan

The home is a 1600 sq ft Century home Pierpont Ohio 1.5 acres with a mobile home attached

What do I need to do

I mean do I have to have the title put in my name until the balance is paid off - and if so doesn’t that mean the regisatration and title will have to be put in my name

There must be another way when using a car as collateral because I’D have to get insurance and everything BUT HE IS KEEPING THE CAR

I am confused and would like some expert help

No need to answer if you don’t know what your talking about I will just report you Yahoo Answers for spamming

it needs tons of works and has a new roof put on last year and the agreed upon price is ONLY $33,000.00 the land alone is worth $30,000.00. My Mother died and I just want to get rid of it…….. and not spend a lot of time and money doing so.. Sale By OWNER of course.

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