| Subject | Date Asked |
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| short sale - what is reported to IRS? | 9/28/2008 |
Q: I a unclear - do they issue report to the IRS for capital gain, or as miscellaneous income, which ...
A: so this is something that should be discussed with whoever does your taxes. Basically the way it ...
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| Buying A short Sale | 9/25/2008 |
Q: I make about 130,000 a year but I do have a NY state tax lien. My credit is not good but the income ...
A: A lease option land trust is when the seller agrees to accept a deposit and put the property in a ...
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| Buying A short Sale | 9/24/2008 |
Q: I make about 130,000 a year but I do have a NY state tax lien. My credit is not good but the income ...
A: Talk to a loan person immediately to see if this is something you could do. If your sister-in-law ...
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| Fire Damaged Fixer-Upper | 8/5/2008 |
Q: Heather i read one of your question about a man trying to wholesale a fire damaged property and i am ...
A: Congratulations on joining the real estate investing game, but I don't think you're going to like ...
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| Deposit from foreclosed apartment building | 8/2/2008 |
Q: I just finished my lease in an apartment building that has been foreclosed, and I am trying to get ...
A: I wish I had a better answer for you but you are caught in the middle and not likely to get your ...
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| UPSIDE DOWN LOAN | 7/27/2008 |
Q: Is there any assistance for the middle class paying family with good credit in this housing market? ...
A: Unfortunately, your story is not uncommon. I work with homeowners in the worst real estate market ...
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| short sale | 7/16/2008 |
Q: Heather, It's me again. I got one more question about the chattel fee. If we don't give the sellers ...
A: The chattel has nothing to do with the deal. They already accepted your offer in writing, right? ...
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| short sale chattel fee | 7/15/2008 |
Q: we have two questions about short sale and chattel fee. We are buying a short sale house in central ...
A: Ok - sounds like you're on the right track. Glad to hear you have you're own realtor. I often use ...
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| short sale chattel fee | 7/15/2008 |
Q: we have two questions about short sale and chattel fee. We are buying a short sale house in central ...
A: OK first, a short sale is when the sellers owe more than the house is worth. In the case of a short ...
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| Foreclosure | 7/14/2008 |
Q: It has become more challenging to make my mortgage payment each month. I am doing it, but barely. ...
A: Sometimes bad things happen to good people. As I understand it, you're not currently behind in ...
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| Right of Redemptions | 7/8/2008 |
Q: I am interested in finding out which states have a Right of Redemption. Is there a list somewhere to ...
A: com. It offers a summary of the state with type of foreclosure the state usually utlizes, the time ...
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| Preforeclosed apartment | 7/7/2008 |
Q: Hi can my landlord still collect rent if his apartment building is preforeclosed and not foreclosed ...
A: Because he still owns it, he can still collect rent and if you refuse to pay, he can evict you. ...
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| Real Estate Classes Online | 6/25/2008 |
Q: I wasn't sure where to ask this question so forgive me if it's posted in the wrong area. I am ...
A: The two below were sponsored links meaning they paid to be on top of the search. ...
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| Seller's Responsibility? | 6/21/2008 |
Q: we are in process of purchasing a home with VA loan. the purchase/sale agreement drawn up. both ...
A: correct? Did the home inspector also note what was causing the problem and put a price on the ...
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| Best to buy a new or older home? | 6/6/2008 |
Q: My brother and I both plan to buy a house or condo in the Las Vegas area next spring (I am also ...
A: Everything is about condition and the deal. We only have about a 2 month supply of new homes in Las ...
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| made an offer on a forclosur home | 5/31/2008 |
Q: I made an offer on the same day the house was listed to the market with the exact list price. the ...
A: Well, if she wasn't representing the seller, she surely wasn't representing you. As far as I ...
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| Contract sale and foreclosure | 4/29/2008 |
Q: My partner and I are buying a home on land contract. We just found the person we are buying from has ...
A: I'm a Realtor, not an attorney, so I can't advise you whether to stay or walk away. I will tell you ...
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| Short Sale Qualified Possibly? | 4/17/2008 |
Q: I met with someone that runs a short sale business who offers to handle the short sale process and ...
A: Do I know of a lender that will do a short sale if you're not behind, but about to be delinquent on ...
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| Finding Distant Wholesale Customers | 4/14/2008 |
Q: Good day! I wholesale real estate live in the Metro Detroit, MI area. I recently learned that there ...
A: Some are free, some have a small fee. thecreativeinvestor.com totalfinancialliberty.com ...
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| Buying a foreclosed property | 4/13/2008 |
Q: My husband and I are under contract on a bank owned foreclosed home. We've done an inspection and ...
A: Never be pressured into a deal. The plumbing damage could be extensive and after making repairs of ...
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| 1 Yr Old Investment Property In Vegas | 4/8/2008 |
Q: Help! I'm sure this is a common situation, but I need educated. My resident home is in Ohio and I ...
A: You have several options at this point depending on how you have the property financed. Since I ...
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| time shares | 3/4/2008 |
Q: My parents own ocean time share in FL. paid $5500 25 years ago. Main fee, etc. are $350/year. ...
A: Timeshares are always a tricky issue. At their ages, they have a few choices: 1. They can transfer ...
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| forclosures | 3/3/2008 |
Q: I would be interested in purchasing a foreclosure but dont know how to go about it. everywhere you ...
A: Buying a foreclosure is very easy. Call your favorite local real estate agent. All foreclosures ...
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| First time investing | 2/6/2008 |
Q: My name is Chris and I recently posted on here a few weeks ago looking for some help with some ...
A: My advice is first, by all means, get a professional inspection so you know what the repairs will ...
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| trustee sale | 1/30/2008 |
Q: I found a notice of trustee sale in our local paper and I understand that this means a default has ...
A: Well, this could get complicated. If the owners don't match, it might be from a probate sale where ...
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| foreclosure home | 1/22/2008 |
Q: my mother had inspector inspect a home but gas and water systems was off, because of that those ...
A: Unfortunately, any home bought as a lender-owned or REO foreclosure is "AS IS". The bank never ...
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| Buying a home from Father in law... | 1/17/2008 |
Q: Situation...Just bought a home on foreclosed market for 168000K using a brothers line of credit. (I ...
A: You're asking me tax questions that I not only can't answer, couldn't legally answer if I knew. As ...
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| Short Sale | 1/5/2008 |
Q: Is there much play with negotiations on a short sale for the buyer? Also what exactly does "Subject ...
A: Subject to Lender Approving short sale means the lender can say yes or no to your offer, regardless ...
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| Deed-In-Lieu | 12/7/2007 |
Q: I read your one reply back to Shawn in regard to their 9 investment properties going to potential ...
A: Todd - I'm not a credit expert or a financial planner, so please verify this with a professional in ...
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| buying from owner | 11/10/2007 |
Q: i am buying a house we have not received any paper work on the house we have lived here now we find ...
A: I'm a little confused. You're buying a house from the owner, correct? How did you get possession of ...
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| signing off on title | 10/29/2007 |
Q: A friend of mine owns a mobile home. He had some financial hardship and signed his title over to his ...
A: LuAnn - the rules that apply to mobile homes differ from state to state, so all I can do is offer ...
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| hi | 10/22/2007 |
Q: My father passed away in April and he didn't have anything like a will and i still live in the home ...
A: I have a couple of questions for you. While you've been living in the house, have you been making ...
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| rent a va home | 10/3/2007 |
Q: My husband and I purchased our first home in 1999 with a va loan, we have a 2nd mortgage also on it ...
A: The reason that's in there is so you won't buy the house with a VA loan and not live in it. The ...
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| rent a va home | 10/1/2007 |
Q: My husband and I purchased our first home in 1999 with a va loan, we have a 2nd mortgage also on it ...
A: If you can afford to rent your current home for what it costs you, you should have no problem ...
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| Best method to obtain a substitute trustee? | 9/30/2007 |
Q: I read about experience and it seems you may be able to know the answer to this question. My ...
A: Maria - This is really a question for the title company, however, I'll tell you how I handled it ...
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| getting our of a contract | 9/16/2007 |
Q: My realtor suggested that we take the contingency off of the sale of our home to keep the contract ...
A: This is why I usually suggest my clients sell their home before buying another, although they should ...
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| Escrow | 9/15/2007 |
Q: How is escrow applied to the overall total of an interest only payment? Should escrow be charged on ...
A: Escrow is the process, not a fee. When you purchase a home, you go into escrow. That process is ...
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| foreclosure | 9/11/2007 |
Q: Does the Mortgage company have to send me letter saying what the sell date is?
A: Sorry for the delayed response. I was out of town. In answer to your question, No they don't have ...
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| Question about preforeclosure house | 9/10/2007 |
Q: I have a question. If I found Preforeclosure house and I want to buy it, what bank look at when ...
A: I think preforeclosures are good everywhere if you do your homework ahead of time. That means know ...
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| Investing Today | 9/3/2007 |
Q: Heather- I am a fledgling investor (I know a lot but have never really dove into investing with my ...
A: You're not alone in being a little nervous and unsure of what to do. I can tell you that people ...
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| Question about preforeclosure house | 9/1/2007 |
Q: I have a question. If I found Preforeclosure house and I want to buy it, what bank look at when ...
A: You can find preforeclosures several ways. One is to run an ad in the newspaper, saying I buy ...
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| Question about preforeclosure house | 9/1/2007 |
Q: I have a question. If I found Preforeclosure house and I want to buy it, what bank look at when ...
A: do you mean the owners have already received a notice of default on the property? If the owners have ...
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| Potential foreclosure | 8/27/2007 |
Q: trying to avoid foreclosures on 9 investment properties. half rented/half not. let's just ...
A: That said, let me recap to make sure I answer your question correctly. You're in foreclosure on a ...
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| Buying Preforclosure Home | 8/19/2007 |
Q: Iam planning to buy preforclosure home and I will be the first time home buyer. I have gone thru ...
A: Congratulations on your first home purchase. Are the preforeclosures online current? They're ...
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| Purchasing Multiple Properties for the first time | 8/12/2007 |
Q: I would like to buy a home for the first time but I would also like to purchase my grandmothers ...
A: Can you buy more than one home in the same year? Maybe, but it depends on a couple of things. ...
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| Possible Foreclosure | 7/14/2007 |
Q: I have read a few of your answers and you seem to be well informed. There is a house on my block ...
A: Miguel, whoever filed the foreclosure is who holds the note. It may be the lender, a private party ...
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| new or used? | 6/29/2007 |
Q: Which is harder and more involved..buying new or used homes?
A: If you're talking about investing, its always easier to buy from a private owner unless you have ...
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| buying a house in foreclosure | 6/13/2007 |
Q: You were so kind to answer my question about buying my friends house in foreclosure, I have another ...
A: I'm glad to be able to help. In answer to your question, maybe. But the amount to bring it current ...
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| buying a preforeclosure House | 6/8/2007 |
Q: My friends house in foreclosure and I want to buy it. I heard I can't buy it because the bank won't ...
A: He's not the only one having this problem. Who told you that you couldn't buy it? Anyone who isn't a ...
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| Is this a scam? | 5/18/2007 |
Q: My Moms house went on the market approx 3 weeks ago--within days we had an offer of 590K on a list ...
A: If I understand correctly, the contract states that a condition of accepting the offer, you cancel ...
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| trades | 5/16/2007 |
Q: I have 160 acres in northern california. I'm thinking of offering it for a trade for a townhouse in ...
A: I'm not familiar with trading a California property for a Nevada property. I'm not clear as to why ...
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| Pmi | 5/3/2007 |
Q: Can I buy out my pmi upfront, before I close on a home loan? If so How do I do that?
A: PMI is charged by the lender because you have qualified for a loan that requires less than 20% down. ...
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| title company not releasing title | 4/30/2007 |
Q: My wife and I were all set to close on our first house (tomorrow). All of a sudden, we were told ...
A: I'm sorry to hear you're having difficulties. Usually when escrow is opened, the title company will ...
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| Lien on our property | 4/13/2007 |
Q: We bought a new house in California last 2005. After 6 months, we suffer itching and like bites from ...
A: I understand you are unable to repay the carpet company, but it truly does matter what the contract ...
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| Fishing Expedition about Mobile Homes | 3/5/2007 |
Q: I am looking into mobile homes and having a problem. I won't be ready until about a year. ...
A: Amy - I'm afraid I can't help much. The rules regarding mobile homes are different in every state. ...
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| Purchase with a buy back agreement | 11/22/2006 |
Q: I have a guy willing to sell me his home for what he currently owes (78K). with the stipulation he ...
A: I know of a lot of people who do this but you have to be very careful. There is a chance later he ...
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| short sale | 11/13/2006 |
Q: I was recently at a real estate seminar. One of the speakers mentioned purchasing a property using ...
A: Short sales are a good way to get equity quickly. A short sale is when the property owner owes more ...
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| I am in a tight situation, should I get help from an investor? | 10/18/2006 |
Q: I am in a tight situation with a sales contract on a new condo. I am about to loose 10k earnest ...
A: Wow! I used to be a licensed realtor in Arizona but its been awhile. Without seeing the contract, ...
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