AboutDennis Herman Expertise I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?
Experience Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.
Organizations Greater Milwaukee Realtors Association
Wisconsin Realtors Association
National Association of Realtors
Publications http://activerain.com/bloghome
Education/Credentials State of Wisconsin Licensed Real Estate Sales Agent
Accredited Buyer Agency Training
Relocation Training
Certified Senior Citizen Representative
Wisconsin Real Estate Continuing Education
I bought a condo in Miramar, FL ( greater Ft lauderdale) in 2006. I was single at a time and stayed in condo for about year and a half. I got married in late 2007 and my wife is not on either mortgage or title. In mean time I was laid off work and was able to find a job in NJ, hence we relocated to NJ. The condo remained on market and empty but nothing happen, the rental offers were too low to rent and too many foreclosures in the area increased HOA fees twice and property value pulmpeted. Needless to say, it just got foreclosed.
Now we have moved to Texas with my new job and we are considering buying a home here. My spouse has perfect credit and soild position. Can we buy now just in her name ? Since TX is community proerty state, if we buy together can a deficiency judgement put a lean on our joint property in TX ? Also, i am awaiting sherrif sale on home, desposition was entered this month, what steps should i take after the sale to avoid any judgement. the condo was my primary residance and since moving out of it, been empty, I believe I can use 2007 Foreclosure tax act ?
Thanks for hel. If the answers require specific knowledge and there is a fee please email and we can discuss terms.
Answer Thank you for the question. I am a licensed real estate agent in the state of Wisconsin. A major portion of your question should be directed to an attorney. You can find a real estate attorney on this site.
As far as I know, your wife automatically owned half the condo as soon as you married. I have sold my wives property in FA and had to sign art the closing. We were married the day before the closing.
The best thing to do is contact a local real estate agent in FL and find out the market value. Ask for a CMA (Comprehensive Market Analysis) which will show you active and sold prices. You should also contact an attorney to discuss a short sale or foreclosure. Collecting all the facts will allow you to make the best choice.
A lender in TX can research your credit scores and advise you on steps to clean up your credit. A good real estate agent in TX should be able to supply names of a few good lenders working with credit repair. It may be a 3-6 month process to raise your credit score. They will be able to tell you how your wives credit score has been effected and how using only her score will effect the allowed income to qualify for a new loan.
I hope this helps. Often talking to a number of sources will provide the alternatives you need.
