| Subject | Date Asked |
|
| Short Sales | 11/24/2009 |
Q: I have been reading a lot on short sales. One thing that I have noticed is that lenders are ...
A: Ah, the joys of shortsales and real estate investing. Know it well :>) What you are seeing is a ...
|
| Renting a house to HUD? | 10/11/2009 |
Q: My wife and I are considering buying housing to rent to HUD. Hoping to be able to receive some ...
A: My specialization is in the foreclosure end of things. I have to beg off when it comes to use after ...
|
| Listing FHA REO properties | 10/6/2009 |
Q: My partner and I have an FHA number however we do not know were to get on the list for listings. We ...
A: FHA is different from most, if not all, REO providers. They almost always have one company that ...
|
| Foreclosure Repairs | 9/29/2009 |
Q: Mr. Propp we are first time homebuyers who are in the process of buying a bank owned foreclosed home ...
A: I will have to give you a more general answer as I do not have all the details regarding the house. ...
|
| FHA & owner occupancy? | 9/25/2009 |
Q: I am buying a 4 family, while negotiating the contract the vacant units were rented by the seller, ...
A: You need to check your state tenant laws but in most areas you as a new owner inherit the leases ...
|
| Becoming a HUD landlord | 9/16/2009 |
Q: We are thinking of becoming a HUD landlord. I heard that HUD inspects the property before they ...
A: I typically do not handle anything to do with rentals. However, there should be information on this ...
|
| home cleanouts | 9/2/2009 |
Q: I own a hauling company & would like to know how my business can work for hud properties as a ...
A: Just so you know I get this question at least once every two weeks. Let me give you some basic ...
|
| Foreclosure clean up | 8/30/2009 |
Q: We three would like to get into the business of cleaning up forclosure houses in our area ...
A: It seems I get this question every other weeks. Here are the two things you can do. 1) Find out ...
|
| 203k Streamline work outside contract | 8/28/2009 |
Q: I’m completing the repairs for a 203k streamline loan, while working with a contractor on the ...
A: Have not run into this situation. I would think that the required repairs are what counts. But it ...
|
| 203b or 203k | 8/25/2009 |
Q: My wife and I are looking to purchase a home that was about 85% finished before the builder went ...
A: Although not a loan officer I am very familiar with the 203K program. From the sound of things, ...
|
| cleaning HUD homes | 8/24/2009 |
Q: How do I get started in the business of cleaning up HUD housing
A: Surprisingly I get this question a couple of times a month. HUD has a local real estate company ...
|
| FHA 203b with repair escrow | 8/19/2009 |
Q: we are in the process of purchasing a HUD home with a FHA 203B with repair escrow. How does the ...
A: It is my understanding that if the appraisal says it needs a new furnace, that is a requirement of ...
|
| FHA 203b with repair escrow | 8/18/2009 |
Q: we are in the process of purchasing a HUD home with a FHA 203B with repair escrow. How does the ...
A: First of all, congratulations on your purchase. The FHA 203K program is an excellent way to fund a ...
|
| Firt time to buy HUD property | 8/16/2009 |
Q: I want to bid a HUD property in California through www.hud.gov. My question is that do I need to ...
A: All offers must be made through a broker that has been certified by HUD. There are no direct ...
|
| John Beck | 8/16/2009 |
Q: Do you know if John Beck's buy a home for $300 is legit?
A: The old saying is "if it looks too good to be true, it probably is..." Have watched the infomercial ...
|
| 203 b and VA foreclosures | 8/14/2009 |
Q: I'm trying to buy a bank owned VA foreclosure. The home needs some small repairs like water heater ...
A: I have had the same information given to me. The 203K streamline program allows up to $35,000 in ...
|
| Re-selling HUD home | 8/13/2009 |
Q: I recently purchased a HUD home in Ohio. If I paid in full with cash at closing and I signed the ...
A: I talked to our local HUD office and while I didn't get a firm answer, the thought was that you ...
|
| cleaning HUD foreclosed homes | 8/12/2009 |
Q: Who do I contact if I would like to begin cleaning HUD foreclosed homes?
A: For some reason I get this question 2-3 times a month :>) HUD is a govermental agency and already ...
|
| buying HUD home/203k or other loan? | 8/7/2009 |
Q: My question has 3 parts 1. I separated from my husband in Dec. 2008 and the divorce will be final ...
A: This is a very long and detailed question so forgive me if I miss something. Feel free to do a ...
|
| HUD homes and inspection/repairs. | 8/6/2009 |
Q: .. I'm a first time home buyer working with the city of Alexandria VA first time home buyer ...
A: First of all, I am not sure if HUD auctions can vary from place to place so I have to answer with ...
|
| Insured Escrow Repairs | 8/4/2009 |
Q: 1. Since the insured escrow repair cost are $2530. Is is correct to assume that the buyer has to ...
A: I am not sure what you are asking. It is as if I am coming in the middle of the question. Waht ...
|
| REO equity exchanges | 7/22/2009 |
Q: I currently have an estate listed by realtor in MLS for $1,000,000. It has been approx. 3 months and ...
A: I understand your frustration at being ignored. As a long time REO listing agent myself I can tell ...
|
| Short sale vs. Foreclosure - which is better? | 6/29/2009 |
Q: My 83 year old mother works full-time still, but is having health issues and will not be able to ...
A: A short sale would be better in my opinion. Tax consequences for a foreclosures could actually be ...
|
| previous owner HUD lien | 6/16/2009 |
Q: I got a letter in the mail that states that the previous owner of our home MAY have a HUD lien on ...
A: In most areas of the country you should be able to go to the recorder's office and check for any ...
|
| VA Homes | 6/11/2009 |
Q: I read your answer to "inconsistencies with VA sale" and it didn't quite satisfy my individual ...
A: I understand your frustration. Right now this is happening with most of the bank home out there. ...
|
| VA Homes | 6/10/2009 |
Q: I read your answer to "inconsistencies with VA sale" and it didn't quite satisfy my individual ...
A: Understand that I am not an attorney, but let me give you my perceptions. First of all, VA sales ...
|
| sheriff sale auction | 5/20/2009 |
Q: I'm interested in buying a property that is going to be auctioned at a sheriff sale. The county ...
A: Understand that the property is still the borrower's up to the second it is auctioned off. So no ...
|
| sheriff sale auction | 5/18/2009 |
Q: I'm interested in buying a property that is going to be auctioned at a sheriff sale. The county ...
A: In my area where we have similar rules, the potential buyer has a certified check made out to ...
|
| incoinsistencies with Va Sale | 5/13/2009 |
Q: I read you earlier answers that the VA properties sales are very straightforward. I recently put in ...
A: It sounds like you have had bad experience all the way around on these. As an REO listing agent ...
|
| HUD SHORT SALE | 5/8/2009 |
Q: 1 HUD REQUIRES AN OFFER ON A SHORT SALE TODE WHAT PERCENTAGE OF THE APPRAISAL
A: They don't make that public knowledge. However, we have a handle on averages needed for ...
|
| foreclosure time sensitive | 5/5/2009 |
Q: Where to start? My boyfriend has/had a Fannie Mae loan. His work situation caused him to fall ...
A: First of all, let me say I really hate to see situations like this. It sounds like the ball got ...
|
| owner occupant | 4/22/2009 |
Q: I have a young kid who is intrested in purchasing a HUD home. Is there a penalty if you decide to ...
A: So you seem to be saying that this property will be a cash purchase. But because preference is ...
|
| roe -v- ppr | 4/18/2009 |
Q: What is the difference between an REO and a PPR work order
A: REO refers to Real Estate Owned or a foreclosed, now bank owned property. PPR normally stands for ...
|
| Va Loan and a 203 k loam | 4/16/2009 |
Q: Are these two loans one in the same. I'm prequalified for a VA home loan. The property I'm ...
A: No, these two are not the same. Your VA loan is a government guaranteed loan whose major advantage ...
|
| FHA | 4/10/2009 |
Q: I am buying a condo with an FHA loan. Closing is the 27th. Since this contract has been ratified ...
A: I would check with my loan officer right away. FHA loans are for owner occupants only. If you do a ...
|
| Don't qualify for a short sale and don't want the house | 4/9/2009 |
Q: I'm in a bit of a different situation. I am in California and our townhouse is completely ...
A: My first thought would be if you are barely affording the payments now, it seems somewhat odd that ...
|
| REO and PPR | 4/5/2009 |
Q: I am trying to get work cleaning up foreclosed properties. In almost every vendor application, ...
A: I have been in the bank owned sales arena for some 18 years and while I know what REO (real estate ...
|
| FHA loan | 3/27/2009 |
Q: My husband and I own two homes. The first one we received an FHA loan with conditions, recapture ...
A: FHA does have an owner occupant requirement. This is because FHA does not make loans to ...
|
| California Foreclosure vs. Short Sale | 3/17/2009 |
Q: Long story short; I feel that I am a victim of greedy real estate agent and title company. I have ...
A: A short sale is a somewhat complicated process, but not necessarily a difficult one. For someone ...
|
| Foreclosure Home Cleaning | 3/16/2009 |
Q: How and where can I promote my business in cleaning foreclosure home ?
A: I think I get this question a couple of times a month. Understand that many of the foreclosed ...
|
| California Foreclosure vs. Short Sale | 3/14/2009 |
Q: Long story short; I feel that I am a victim of greedy real estate agent and title company. I have ...
A: First of all, I am sorry to see this kind of situation. I would take the alternative of doing a ...
|
| Foreclosure | 2/23/2009 |
Q: Is there any help for a home in the redemption period
A: It would help if I knew what state the property is located in and the timeframe that you have left. ...
|
| buying a sec. 8 property | 2/18/2009 |
Q: A customer of mine wants to retire and wants to sell me one or several of his homes all currently ...
A: Boy, this is a tough one with today's credit market. And I hear you. As a real estate agent I am ...
|
| Question Listing HUD Homes | 2/9/2009 |
Q: I am a Realtor in GA. I would like to list HUD homes my broker has setup office, but I have yet to ...
A: HUD homes are typically assigned to just one broker per area. Being a "HUD Broker" usually refers ...
|
| REO and PPR | 2/3/2009 |
Q: What do these stand for and what is the difference?
A: Chris, I will be honest and have to say I do not know what the latter (PPR) stands for. I am not ...
|
| who to contact to clean foreclosed homes | 1/22/2009 |
Q: i just started a foreclosure clean up business. can u point me in the right direction of department ...
A: Most lenders do not directly handle their bank owned properties. They turn them over to Asset ...
|
| redemption period | 1/19/2009 |
Q: We have a non HUD loan and are in our 6 month redemption period. There is someone who wants to buy ...
A: Since there are only a few states with a 6 month redemption I am going to guess you are possibly in ...
|
| Quick Question | 1/16/2009 |
Q: I am on a loan with my 86 year-old father. Sadly, my father has cancer and probably not much time to ...
A: I am not an attorney so this is not legal advice. But having worked with mortgages and real estate ...
|
| forclosure cleanup business | 1/15/2009 |
Q: In California do I need some kind of insurance for my foreclosure cleanup business,If I am the only ...
A: HUD properties are listed and handled by specific real estate companies. Typically one per area ...
|
| Forclosure | 1/6/2009 |
Q: I had a home in peekskill neww york. My husband and I started having trouble at the end of 2005. I ...
A: Some of this does seem a kind of odd. Some basics. If the house has gone through foreclosure and ...
|
| Bidding timeline | 1/4/2009 |
Q: How long after a bid is submitted for a HUD property does it take to get an answer? Thank you.
A: While there can be some regional differences the typical timeline is that a property is made ...
|
| repaying back txes to get back in home | 1/1/2009 |
Q: someone paid the back taxes that we were told that we didn't owe,being disabled-they want 16,000 to ...
A: This is actually moving into the legal end of things and I am not an attorney nor can give anything ...
|
| Processing Escrow for Bank Owned Properties | 12/11/2008 |
Q: The company I work for is an independent escrow company. We would like to know how we can get the ...
A: Interestly enough I worked closely with a title company during the last refi bonanza. I would come ...
|
| Quota's for FHA/Hud Rentals | 11/24/2008 |
Q: I am trying to purchase a town home for investment. The townhouse association has a cap on the ...
A: In my experience I seem to remember that the owner occupied percentage must be 70% or higher or the ...
|
| Repair of Foreclosed Homes | 11/19/2008 |
Q: I work for a company that does remodel construction. I am interested in doing repair work on houses ...
A: Unfortunately there is no list that I have found. Most banks now have asset management companies ...
|
| FHA Shortsale | 11/14/2008 |
Q: I am a realtor, I have done shortsales on either side however, I am coming across my first potential ...
A: OK, actually made me do some homework on this one. Yes, HUD is a bit of a different animal when it ...
|
| Foreclosure clean up | 11/13/2008 |
Q: I am in the process of putting estimates together for the clean and maintaince of REO homes. The ...
A: In most areas of the country that I am familiar with, HUD properties are handled by one real estate ...
|
| HI | 11/6/2008 |
Q: I just bought a HUD home few months ago and my wife lose her job can I put the HUD home for rent and ...
A: You are probably talking about the fact that you took out the loan as an owner applicant. And now ...
|
| Foreclosure | 10/27/2008 |
Q: I live in Oklahoma. I have my home loan thru USDA Rural Development. They have recently raised my ...
A: Deficiency Judgements are largely governed by state foreclosure statutes. Oklahoma does allow them. ...
|
| cleaning foreclose homes | 10/20/2008 |
Q: I am interested in cleaning foreclose homes , who do I contact or where do I look for this homes I ...
A: No one has direct information on each area of the country so you will need to do some homework to ...
|
| BEING THROWN OUT OF HOME | 10/12/2008 |
Q: Me and my foster daughter and our 7 dogs and 3 horses are being asked to literally get out of our ...
A: Unfortunately I can not directly help as you are not in my immediate geographical area. However, ...
|
| cleaning foreclosed homes | 10/6/2008 |
Q: Can anyone tell me what the going rate is in Indiana to bid on cleaning foreclosed homes. Is there a ...
A: There is no "going rate". Each house is done on an individual basic. Many companies have an ...
|
| Cleaning Foreclosed houses | 9/27/2008 |
Q: I was curious as to how people get into cleaning foreclosed houses and who pays you to do so? My ...
A: There are two basic ways to get into this. And both are going to require some time and effort on ...
|
| rate for cleaning foreclosed homes | 8/23/2008 |
Q: I just started cleaning foreclosed homes and I wanted to know what the going rate is for this and ...
A: The amount is typically dictated by the asset management company/bank owner. What I have seen is ...
|
| REO and HUD Investing | 8/22/2008 |
Q: I'm a 30 yr old female, living in NYC who is interested in investing in REO or HUD properties. I am ...
A: In starting out I really don't recommend that you go outside your area. Otherwise you are totally ...
|
| equitable right of redemption | 8/17/2008 |
Q: i heard that NY State law changed to allow the redemption period to extend beyond the date of the ...
A: First of all, I am not an attorney and second, I am not from the East Coast, so after some basic ...
|
| Purchase a home | 7/23/2008 |
Q: I'm currently looking to buy a home in Stephens county ga. I've seen on TV the tax lien sales and ...
A: Chris, When I teach my consumer classes on buying foreclosures this is a regular question. I tease ...
|
| 2 FHA loan - short sale | 7/16/2008 |
Q: i am a realtor. Here is my client's situation. he has 2 fha loans under his name only. Divorce ...
A: To be honest I am not sure that this is true. Can't say I have seen any situations where someone ...
|
| Foreclosures - good deals now? | 7/14/2008 |
Q: I am a fellow expert (Home Improvement, Water Quality, New Mexico). I am thinking about the ...
A: Having worked with lots of attorneys you will find that I have picked up their favorite phrase. "It ...
|
| Winning HUD bid | 7/12/2008 |
Q: I just recently bid on a HUD home and I am the winning bidder, I was told by my real estate agent ...
A: Christopher, In 19 years of dealing with bank owned housing and plenty of HUD I have never known of ...
|
| foreclosure | 6/21/2008 |
Q: My lender said if i dont have my payments current by june 30th they are going to start the ...
A: You need to contact one of the many Florida state and local agencies that are assisting people in ...
|
| How long does it take to get HUD documents to the bank? | 6/4/2008 |
Q: my fiance & I have been approved through our bank for a loan for a house. The house is owned by a ...
A: I am assuming this is a HUD foreclosure. It isn't uncommon as of late that a title issue crops up ...
|
| foreclosure | 5/23/2008 |
Q: well i want to start with buying one foreclosure home and try to fix it up and sell it for a little ...
A: Buying a bank owned house is much the same as buying any house. Just that your seller is a ...
|
| NY hud higher bid offer | 5/20/2008 |
Q: we bid on a house and they have accepted a lower offer from someone else.All our paperwork with ...
A: Michelle, My experience with HUD has been that they accept the highest net offer. So a question ...
|
| Bidding on a VA Foreclosure | 5/3/2008 |
Q: We have been bidding on this VA foreclosure for over a week. We're are putting our third bid ...
A: VA is somewhat different to work with in that they look at the "list price" as more of an opening ...
|
| bidding on a hud home | 4/26/2008 |
Q: I have found a HUD home to bid on but of course I can't bid on it since I'm not a HUD broker. How ...
A: Rachel, All offers on HUD homes are to be submitted through HUD approved real estate companies. ...
|
| Sherriff's Sale - PA (Westmoreland Co.) | 4/15/2008 |
Q: I am interested in purchasing a townhouse I saw in the paper that it to be sold at a Sheriff's sale. ...
A: Actually this is fairly common. With the low interest rates of a few years ago many people ...
|
| Sherriff's Sale - PA (Westmoreland Co.) | 4/15/2008 |
Q: I am interested in purchasing a townhouse I saw in the paper that it to be sold at a Sheriff's sale. ...
A: The Sheriff Sale is a public auction and one of the last phases of the foreclosure process. The ...
|
| Foclosed Home Security | 4/8/2008 |
Q: I am the owner of a small security company in Minnesota. There have been some great advances in ...
A: Sorry for the delay. Was out of town for a couple of days that expanded into a little longer than ...
|
| good neighbor next door program | 3/31/2008 |
Q: I am a full time teacher in Maryland and was interested in the Good Neighbor Next Door Program. This ...
A: Not an expert on this program but am somewhat familiar with it. Propgrams for both teachers and law ...
|
| Sheriff sale | 3/21/2008 |
Q: I love this house and I tried to buy it from the owner but he couldn't get a clear title since he ...
A: Unfortunately I am not familiar with New Jersey tax liens. I do know that the IRS does have a ...
|
| Assistant Living Property | 3/16/2008 |
Q: What do I have to do to convert a residential property to an assistant living home. I heard about ...
A: This is usually under the supervision of city, county or state. I would call the city first and ask ...
|
| Foreclosure and LLC | 3/5/2008 |
Q: I have an investment property that I purchased in my name with 5% down. Now the property is vacant ...
A: Mark, I am not an attorney and this is a legal question. You really need to talk with an attorney ...
|
| Flipping a HUD home | 3/4/2008 |
Q: Steele, My husband and I bought a bank-owned HUD home almost 2 yrs ago (in May '06). We both work ...
A: Unfortunately I have gotten mixed answers on this. If it was your original intention to live in ...
|
| clean-up | 2/23/2008 |
Q: We would like to start a business cleaning up, painting and repairng foreclosed houses. Not ...
A: He's lucky to have a Mom like you willing to help. One other thought. He might want to contact the ...
|
| clean-up | 2/23/2008 |
Q: We would like to start a business cleaning up, painting and repairng foreclosed houses. Not ...
A: Jo, For the most part banks do not handle their own foreclosure properties anymore. They have what ...
|
| I have too much wrong information re:HUD | 2/21/2008 |
Q: After an unbelievable year, truly, I thought CDA, SLEP, My Mortgage, or purchasing foreclosure might ...
A: Unfortunately I am more in the real estate field as opposed to the financing end of things. ...
|
| VA buy | 2/14/2008 |
Q: I am interested in buying an apartment in TX or Florida to rent out. I want something cheap, i just ...
A: Billy, What you need to do is to determine just where you stand in eligiblity for a VA mortgage. ...
|
| Foreclosure and PMI | 2/6/2008 |
Q: I live in the state of Florida, and might have to go foreclosure in 5 properties located at the same ...
A: PMI is ultimately for the benefit of the lender. It really isn't insurance for you. And the ...
|
| like to clean forclosure properties | 1/30/2008 |
Q: My name is Keith Jackson I own R&M repo cleaning service,I would like to get information on bidding ...
A: I am not anywhere near your area but as this is basically the same all over let me make the ...
|
| VA property | 1/22/2008 |
Q: I live in Atlanta and I put a bid on a VA owned house 1/2/08 (agent said he had NO idea when we ...
A: Elaine, Although this is frustrating it is fairly common. Foreclosure sales whether VA or bank ...
|
| VA Foreclosure | 1/18/2008 |
Q: I'm interested in buying a home that is a VA Foreclosure. I was excited about putting an offer in ...
A: A good place to go for information is the Ocwen Internet site. Then click on the properties for ...
|
| a friend's house in foreclosure | 1/16/2008 |
Q: Some friends of ours have let their father's home go into foreclosure (he is out of the house and in ...
A: Martha, May need to answer this in parts as foreclosure can be state specific. That you are ...
|
| renting out my FHA loan..... | 1/16/2008 |
Q: I bought my first home under FHA program in November 2005 (15 months ago). Since I have gotten ...
A: Although rentals are not my main area I believe that you are fine in renting your home. It is your ...
|
| foreclosure rights | 1/14/2008 |
Q: can they take our state and federal tax return im in arizona we did try to sell the home but our ...
A: What I think you are asking about is a deficiency judgement. When there is not enough proceeds from ...
|
| fha loan question | 10/14/2007 |
Q: My question is, if it is possible to obtain an FHA loan to purchase a home at a sheriff sale? Or are ...
A: My understanding is that Ohio does not have a redemption period so the winning bidder will get the ...
|
| fha loan question | 10/14/2007 |
Q: My question is, if it is possible to obtain an FHA loan to purchase a home at a sheriff sale? Or are ...
A: Mike, It would really depend on what area you are located in and the timeframe you have to secure ...
|
| foreclosure | 10/13/2007 |
Q: i want to buy a foreclosed home with no money down and pay no closing cost i am approved for 100,000
A: You will need to have a no downpayment mortgage and the seller pay your closing costs. While the ...
|
| Cleaning HUD and VA homes for sale in Jackson, TN | 9/28/2007 |
Q: I'd like to get contacts for cleaning HUD and VA foreclosed or properties for sale in Jackson, TN. ...
A: HUD has a real estate company that handles of their properties for a particular area. You would ...
|
| section 8 rental | 9/22/2007 |
Q: I live in Louisiana and participate in the section 8 program. The owner of the property is trying to ...
A: My expertise is in buying and selling as opposed to renting. However, my take on your situation is ...
|
| purchasing a HUD house | 9/13/2007 |
Q: Hey, I am interested in purchasing a HUD house and I would like to know where I could get all of the ...
A: I am not sure if I understand you correctly. The HUD website is the best place to see all the HUD ...
|
| Renting out a home. | 9/11/2007 |
Q: My mother owns her 30 year old manufactured home, but she wishes to move with my husband and I to ...
A: Sorry for delay, have been out of town teaching. I am not sure if there is a HUD classification for ...
|
| Renting out a home. | 9/10/2007 |
Q: My mother owns her 30 year old manufactured home, but she wishes to move with my husband and I to ...
A: Not sure if I understand the question. Are you saying that the property was purchased with an FHA ...
|
| FHA rental? | 9/7/2007 |
Q: I am sort of piggy backing off of a question that you answered a while ago. I have had my house for ...
A: That makes sense. These special programs do have such limitations. You probably won't be able to ...
|
| FHA rental? | 9/7/2007 |
Q: I am sort of piggy backing off of a question that you answered a while ago. I have had my house for ...
A: To be honest, this goes against anything I have ever read. To my knowledge in a case like this you ...
|
| single working mother of 2 with poor credit, | 9/5/2007 |
Q: Is it possible to purchase a home if I am employed,have 2 children,poor credit and no down payment? ...
A: Lender look at all three of these items in deciding to make a loan (job, credit and downpayment). ...
|
| REO properties | 9/4/2007 |
Q: I was wondering if there is any way I can qualify for a home loan. I am a teacher, 24 years old, in ...
A: Lenders are getting very picky about buyers so you would need to have a new loan (a least a ...
|
| foreclosure house to buy? | 8/31/2007 |
Q: My husband and I went to see a foreclosure house today. It's a split level house. The second floor ...
A: There is no "formula" on how to negotiate on a foreclosure. This is a late night TV myth. Instead ...
|
| The process of buying a VA home | 8/15/2007 |
Q: My husband and I made an offer on a VA homes 4 days ago. We have not heard back on our offer. the ...
A: Leslie, Until an offer is accepted both VA and FHA reserve the right to look at all offers. So I ...
|
| Poor credit, but have down payment | 8/13/2007 |
Q: I have poor credit, but will have a down payment betweeen $20,000 and $30,000 dollars after the sale ...
A: Giving credit is all about risk and reward. The question is whether a lender would consider your ...
|
| Making an offer on a VA Foreclosure property | 8/3/2007 |
Q: My husband and I put in a contract and our offer 2 days ago to purchase a VA Foreclosure. We will ...
A: In most cases foreclosed properties will take anywhere from 2-5 days for a reply. If the offer was ...
|
| hud history | 8/2/2007 |
Q: Is there an easy way to learn the history of a hud home for sale? I am considering one in upper ...
A: Easy may not be the word to use but you should be able to gather some basic information. First of ...
|
| real estate | 7/30/2007 |
Q: I want to start business in buying and selling real estate, but I almost don't know nothing about ...
A: To be brutally honest with you, no course is worth $4,500 in my mind. But I have seen dozens and ...
|
| real estate | 7/29/2007 |
Q: I want to start business in buying and selling real estate, but I almost don't know nothing about ...
A: Best place to start is basic education. Not those late nite TV courses or most of the stuff on the ...
|
| hud rental | 7/25/2007 |
Q: I am currently renting a condo in san diego ca that is being foreclosed on by hud lender .do i ...
A: Unfortunately your lease is with the current owner. If foreclosed upon HUD will be the new owner ...
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| Home loan on sheriff sale property | 7/21/2007 |
Q: My husband and I found our dream home, it is up for sheriff sale and we were approved for a loan ...
A: Understand your frustration. The problem is that most conventional loans require that the house be ...
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| Buying/Reselling | 7/18/2007 |
Q: My brother-in-law and I are considering a small business venture, buying fixer uppers and/or ...
A: When teaching classes on buying foreclosures this is the one area that intrigues people the most. ...
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| Buying REO's | 6/21/2007 |
Q: I am looking to buy some Reo properties. Some of these properties I would keep and fix myself and ...
A: It is similar to a double closing, but you actually buy the property, close and then immediately ...
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| Buying REO's | 6/21/2007 |
Q: I am looking to buy some Reo properties. Some of these properties I would keep and fix myself and ...
A: Let me tell you exactly what they think about this. Fraud. You offer to buy it, no matter what or ...
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| sheriff sale homes | 6/15/2007 |
Q: I am looking to buy a sheriff sale home. I have found one and the auction date is fast approaching. ...
A: This is a tough situation as timing is so crucial. You might be able to get the Sheriff Sale ...
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| Cleaning property owned by hud | 6/12/2007 |
Q: i would like to clean property owned by hud in illinois, a.v.a is the name of our company we are a ...
A: Most HUD properties are handled by asset management brokerages. These are real estate companies ...
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| FHA-Penalty for early sale | 6/12/2007 |
Q: I bought a house in 2001 on a FHA loan. Is it true that you have to own the house for 9 years before ...
A: Can't say I have heard of such a penalty. Since the average time a person stays in a house is 5-7 ...
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| Foreclosures | 6/5/2007 |
Q: What are good ways to buy a foreclosure with minimal money out of pocket. I always see that chfa etc ...
A: Any area can be good or bad. I would look at the overall economic picture and determine if this ...
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| Can I use Down Payment Assistance? | 5/29/2007 |
Q: Can a buyer use Down Payment Assistance or Nehemiah type funds for FHA financing on a HUD ...
A: HUD foreclosures are sold on an auction basis and do not allow for downpayment assistance. It is ...
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| Brokers selling HUD foreclosures | 5/29/2007 |
Q: Is it true that real estate brokers see and pick over the better new foreclosure listings before ...
A: No, it is not true. In fact, the brokers who are assigned to market these properties (myself ...
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| Need some advice | 5/13/2007 |
Q: I am a 24 year old who is thinking about buying a HUD home as an investment porperty. How do I go ...
A: There is a lot of hype out there so you do need to use your own good intuition meter. If something ...
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| disabled mom wants to purchase a hud home confused? | 5/12/2007 |
Q: I, AM A SINGLE, DISABLED MOTHER OF TWO DISABLED DAUGHTERS. MY HUSBAND BEAT ME AND HE IS NOW AN X ...
A: In order to buy, one needs some kind of financing. First I would check to see if there is any ...
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| What does PMI cover? | 5/10/2007 |
Q: We have been paricipating in auctions and have been unsuccessful bidders to the banks. I understand ...
A: Not really an expert in this area, Brigitte. My experience has been that while a foreclosing lender ...
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| Renting out foreclosed property | 5/9/2007 |
Q: I am a recent college graduate and I am thinking about buying and renting out HUD homes in the ...
A: HUD housing is foreclosed houses that had FHA mortgages that defaulted (didn't get paid). I would ...
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| Foreclosure HuD ? | 5/7/2007 |
Q: Is The price that the property is listed for have to be paid in full at the time of the auction? ...
A: With foreclosures it largely depends on the area and type of auction. Typically highest bid wins so ...
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| foreclosures | 5/2/2007 |
Q: I am looking at breaking into the market of foreclosures and getting started into some real estate ...
A: I haven't taken any Russ Whitney courses or seen any materials he had put out. But the reason is ...
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| Renting out a FHA home | 4/29/2007 |
Q: I bought my house on an FHA loan 3 years ago. Because of an unexpected set of circumstances I can ...
A: As long as you are making the payments and the house remains yours, of course you can rent it out. ...
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| real estate foreclosure training | 4/15/2007 |
Q: What is the best way to go about learning about buying and selling foreclosure properties? Are you ...
A: You will probably not like my answer. In my professional opinion most gurus out there teaching the ...
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| buying a home | 4/12/2007 |
Q: I am a single mom of three. I am still technically married, but have no dealings with my soon to be ...
A: There is often some confusion on buying HUD homes and getting an FHA mortgage. HUD homes are the ...
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| buying a home | 4/12/2007 |
Q: I want to buy a hud home. I want to stay in the same school district, i am a single mom. Fairly ...
A: Visit the official HUD homes site: http://www.hud.gov/homes/index.cfm Click on your state and then ...
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| Scammed by HUD | 3/22/2007 |
Q: My family and I bought a HUD house in Euless, TX as an investment property in Jan 07. We were going ...
A: This is a tough one. Understand that HUD is a huge organization. I seriously doubt they ...
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| selling a low income home | 3/21/2007 |
Q: My friend bought a house 2 years ago, under a low income program and is now interested in selling ...
A: Your friend needs to go back to her closing documents from when she purchased the property. Her ...
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| sherriff sale | 2/26/2007 |
Q: Steele, If by chance the sheriff sale thing doesn't work out... we were thinking of looking ...
A: I would call the various real estate companies in the area and ask the manager if they had anyone ...
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| HUD/VA/FORECLOSURE | 2/25/2007 |
Q: I am looking to network in NYC. I really like to learn the process. I am a current builder and real ...
A: I think we are going to need to narrow things a bit :>) Could you tell me just what you are ...
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| sherriff sale | 2/23/2007 |
Q: Well.... my next question to you is... if you go through a lawyer or title companies do they ...
A: Attorneys don't guarantee their work as such. It is presumed that they are competent to do a ...
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| sherriff sale | 2/22/2007 |
Q: I called a company who said they do the search for $170-200 is this a good fee or should I keep ...
A: From my own experience $200 and under is an excellent price. I typically pay right around $200. ...
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| sherriff sale | 2/22/2007 |
Q: Steele, Thank you for your help I am from PA. I have information from the sheriff's website. ...
A: Ashley, PA had no redemption period so my understanding is that the winner of the sale will get the ...
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| sherriff sale | 2/22/2007 |
Q: Another question I have is when my husband was at the courthouse he found out that there is a ...
A: Ok, this is a classic case of terms I am not familiar with. The lender doing the foreclosure will ...
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| Sherriff's Sale | 2/22/2007 |
Q: Steele, My husband and I are looking into buying a property from Sherriff Sale, I have been ...
A: Understand that different states can vary on how Sheriff Sales are handled. Since I don't know ...
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| foreclosures | 2/21/2007 |
Q: i am looking to find foreclosed property in Vero Beach FLorida. all of the sites i find charge for ...
A: Christy, There are a ton of sites out there. I don't know of any specifically for your area that ...
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| foreclosures | 2/19/2007 |
Q: My son is currently looking to buy a home in Ventura California, how can we find a foreclosure or a ...
A: As you are finding there are a lot of companies out there selling information on foreclosures. And ...
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| gov. building location | 1/30/2007 |
Q: propp i am trying to locate which government building to contact about a certain property,see i have ...
A: Thought I had answered this a couple of days ago but it seems it did not go through. So I apologize ...
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| terminal father and mother both disabled and 12yr old sis need fha loan approval fast!! | 1/27/2007 |
Q: because of their situation she cannot leave him alone to search and he is unable to get out other ...
A: Had answered this right away but it seems that it did not get through. Sorry for the delay. Any ...
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| terminal father and mother both disabled and 12yr old sis need fha loan approval fast!! | 1/27/2007 |
Q: my step father is a hospice patient who requires wheelchair access and my mother is disabled as well ...
A: This is a hard situation. What they are going to need to do right away is to see if they qualify ...
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| HUD?? | 1/21/2007 |
Q: My husband and I are currently looking to buy our first home in Sacramento, ca. I hear a lot about ...
A: HUD homes are properties that have been foreclosed on that had FHA loans. They are sold typically ...
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| buying a home | 1/9/2007 |
Q: i would like to purchase a home and already have a home picked out. can any home be a hud home? ...
A: A HUD property is a property that has been foreclosed on and had an FHA mortgage/loan on it. In ...
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| Buying a Hud Home | 1/9/2007 |
Q: Is there any way to purchase a HUD home with out being in the program?
A: I am not sure if I understand what you are asking. HUD properties are available to any legit buyer ...
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| forclosers purchase | 12/30/2006 |
Q: Where do I find listings for foreclosures? Also would I be able to purchase a home under forclosure ...
A: There are a number of national services that post foreclosures. Most are only so-so in accuracy. ...
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| Investment properties | 12/12/2006 |
Q: I was looking into investing in Hud foreclose properties. But I want to know will that effect me ...
A: I am not sure if I fully understand your question. What I am understanding is that you are ...
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| sherriff sale | 12/5/2006 |
Q: iam from pa thanks dave
A: Dave, First, my name is Steele, not Steve. But that is a common mistake as I have an uncommon ...
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| FHA loan and short sale | 12/2/2006 |
Q: I said short sale, but I actually meant quick claim and thanks for the information.If I am a first ...
A: Sorry if I sound a bit confused but I am, confused that is :>) Perhaps you can give me the scenario ...
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| FHA loan and short sale | 12/1/2006 |
Q: If I am a first time buyer and qualify for an FHA loan, how long must i have the property before I ...
A: The typical loan, FHA or conventional, does not have a prepayment penalty. So in most ...
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| Foreclosure | 11/30/2006 |
Q: we are sure that no one will buy this property at the auction it is only worth about 1/2 of what ...
A: If no one else bids than the bank will get the property. And they will get it in it's current ...
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| buying a home? | 11/25/2006 |
Q: My wife and I moved back in with my parents to save money as we were expecting our first child. Now ...
A: Paul, There are a number of factors that come into play in trying to answer this question. And ...
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| Foreclosure | 11/21/2006 |
Q: We just received a sheriff sale date for Mid January, I am sure the house wont sell, how long do we ...
A: I am going to presume that you also wrote the message that you are in Wisconsin. With that in mind, ...
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| FHA loan | 11/20/2006 |
Q: If I am buying a home w/ an FHA loan, can I let the seller live there an extra 10-15 days after ...
A: As there are those that might think your question is a legal one, let me state for the record that I ...
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| Want to bid a HUD home | 11/15/2006 |
Q: I am interested in purchasing a HUD hom in New Braunfels Texas and would like to know how much money ...
A: HUD has a specific sales contract that states that on offers $50,000 or less the earnest money ...
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| low income home buying | 11/13/2006 |
Q: I am interested in buying a home for myself and a sickly parent. I make about 25K/year.I went to see ...
A: It sounds like the housing counselor did qualify you based on your income, monthly debt, and credit ...
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| Lowest Bid acceptable | 11/11/2006 |
Q: There is a house I am interested in but the "fair value" of the house is not accurate. The current ...
A: Ben, You are talking about a property on HUD's "extended list". These are properties that for ...
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| foreclosure | 11/7/2006 |
Q: My question is how do you find them. Can you get info about foreclosures from a bank?
A: This can be an entire book in itself so let me give you the Reader's Digest Condensed version :>) ...
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| wana buy a home | 11/4/2006 |
Q: iam on disability and recieve 603 a month my question is i have bad credit but a monthly income ...
A: To be totally honest, it will be tough. You may want to check to see if there are any "affordable ...
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| Trying to Buy | 11/3/2006 |
Q: I am a only parent trying to do the best for my kids. I also feel as if I cannot get anywhere with ...
A: In many areas of the United States there are state and county programs for affordable housing. In ...
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