Zillow Advice RSS: Question-Discussion-Guide,All Real Estate Advice Topics,NJ http://www.zillow.com/advice/NJ/all/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Should we ask for short sale or stop paying mortgage and save? http://www.zillow.com/advice-thread/Should-we-ask-for-short-sale-or-stop-paying-mortgage-and-save/548998/ My wife and I just going through the divorce process and almost done. I have already found a new place, and my wife doesn't want or need the house. We are about $20K underwater, and the loan is through BofA. We also have a HELOC with Citibank for about $11K.<br/><br/>We don't qualify for the HAFA short sale because it is not Fannie or Freddie. The other option is a cooperative short sale, and divorce would qualify as a hardship according to the paperwork. However, we are current on the loan and have been rejected before for help because we make too much money and haven't missed a payment.<br/><br/>My question is, do we start the short sale process with BofA, or stop paying the mortgage and save the monthly payment towards rent on the new place for the wife and kids? Do both options have the same effect on our credit reports?<br \><br \>7 replies Wed, 09 Jul 2014 12:34:00 GMT http://www.zillow.com/advice-thread/Should-we-ask-for-short-sale-or-stop-paying-mortgage-and-save/548998/ 2014-07-09T12:34:00Z i only want to consider houses with city water & sewer. http://www.zillow.com/advice-thread/i-only-want-to-consider-houses-with-city-water-sewer/549122/ What is the proper way to put this criteria into the "more" section?<br \><br \>3 replies Thu, 10 Jul 2014 04:55:00 GMT http://www.zillow.com/advice-thread/i-only-want-to-consider-houses-with-city-water-sewer/549122/ 2014-07-10T04:55:00Z What is a typical deposit to put down on a new house in a new development? http://www.zillow.com/advice-thread/What-is-a-typical-deposit-to-put-down-on-a-new-house-in-a-new-development/548757/ My wife &amp; I are looking into buying a house in a new development.&nbsp; The rep said it would take 10 months to build once the lot was picked out and everything decided on, which is perfect for our time frame.&nbsp; However, we were not planning on applying for a mortgage or having much of a deposit until closer to that 10 months being up, especially since my wife is starting a new job in a few months.&nbsp; So my questions are: Is there a good faith or earnest deposit that typically happens in these scenarios?&nbsp; how much?&nbsp; And do we start the mortgage process now or closer to the completion of the house?&nbsp; Thank you!<br \><br \>8 replies Mon, 07 Jul 2014 20:55:00 GMT http://www.zillow.com/advice-thread/What-is-a-typical-deposit-to-put-down-on-a-new-house-in-a-new-development/548757/ 2014-07-07T20:55:00Z WHat are the Minimum Credit Scores Required for FHA Loans http://www.zillow.com/advice-thread/WHat-are-the-Minimum-Credit-Scores-Required-for-FHA-Loans/444776/ Many clients want to know what is the minimum credit score they will need to qualify for FHA loans. The information out there can be confusing especially if it is out of date!<br/><div style="text-align: right;" class="answer_body">Information on FHA loan requirements that was gathered even two years ago is now out of date. Modifications to the rules for required credit score requirements have changed.To get maximum financing on typical new home purchases, applicants should have a credit score of 580 or better. Applicants with a credit score of 500 to 579 according the the FHA guidelines, are "limited to 90 percent LTV". That means you must put 10% down.&nbsp;<br/>Applicants who wish to qualify for 100% FHA loan financing with no down payment required the FHA 203(h), Mortgage Insurance for Disaster Victims home buyers will need a credit score of 500 or better.&nbsp;<br/><br/>To get specific information on different types of FHA Loans available go to:&nbsp;<br/><br/><a rel="nofollow" href="http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory">http://portal.hud.gov/hudportal/HUD?src=/program_offices/hou&hellip;</a>&nbsp;<br/></div><br \><br \>31 replies Wed, 30 May 2012 12:35:00 GMT http://www.zillow.com/advice-thread/WHat-are-the-Minimum-Credit-Scores-Required-for-FHA-Loans/444776/ 2012-05-30T12:35:00Z Underwriter after title report and MI certificate? http://www.zillow.com/advice-thread/Underwriter-after-title-report-and-MI-certificate/549032/ My loan went underwriter and I received a conditional approval. I submitted the docs requested, but I have not received a response. Now, the loan officer toldme that they are waiting for the title report to then request the MI certificate and it goes underwritting again for a final review. Is this process normal? How long can it take for them to get the title report and request the MI certificate? How long for the loan to be approved after that? My closing is supposed to be in 10 days and I have not received a response yet.<br \><br \>7 replies Wed, 09 Jul 2014 16:39:00 GMT http://www.zillow.com/advice-thread/Underwriter-after-title-report-and-MI-certificate/549032/ 2014-07-09T16:39:00Z selling without agent http://www.zillow.com/advice-thread/selling-without-agent/548705/ I am selling my house without an agent and I'm wondering what type of legal representation I should have and where you find that and where you get information on being a For Sale By Owner also if I have a buyer with an agent will they do all the&nbsp;<br/>&nbsp;paperwork?<br \><br \>8 replies Mon, 07 Jul 2014 14:34:00 GMT http://www.zillow.com/advice-thread/selling-without-agent/548705/ 2014-07-07T14:34:00Z VA loan after bankruptcy and short sale http://www.zillow.com/advice-thread/VA-loan-after-bankruptcy-and-short-sale/525145/ I owned a home together with my sister. After a business failure and period of unemployment we ran into trouble paying the mortgage. Attempted loan modification twice and it never went anywhere. I filed for Chapter 7 bankruptcy in 2009. We just sold the house in a short sale in late December 2013. I am currently employed and earning a pretty good salary. I have my COE. My question is... how long will I have to wait until I can try to get a VA loan?<br \><br \>8 replies Mon, 20 Jan 2014 17:50:00 GMT http://www.zillow.com/advice-thread/VA-loan-after-bankruptcy-and-short-sale/525145/ 2014-01-20T17:50:00Z I am interested in a condo in Society II that has moderate income guidelines, what are they? http://www.zillow.com/advice-thread/I-am-interested-in-a-condo-in-Society-II-that-has-moderate-income-guidelines-what-are-they/548929/ 1 reply Tue, 08 Jul 2014 22:23:00 GMT http://www.zillow.com/advice-thread/I-am-interested-in-a-condo-in-Society-II-that-has-moderate-income-guidelines-what-are-they/548929/ 2014-07-08T22:23:00Z how do i list my property on Zillow? http://www.zillow.com/advice-thread/how-do-i-list-my-property-on-Zillow/548914/ 2 replies Tue, 08 Jul 2014 20:30:00 GMT http://www.zillow.com/advice-thread/how-do-i-list-my-property-on-Zillow/548914/ 2014-07-08T20:30:00Z Renewing a Rental Listing http://www.zillow.com/advice-thread/Renewing-a-Rental-Listing/548783/ I am looking to renew my previous rental listing (at 350 Concetta Dr) but it keeps trying to get me to use something called postlets where I have to start from scratch. &nbsp;I dont even have the photos anymore to upload from my pc. &nbsp;Is there not an easy way to just clikc repost and make small changes?<br \><br \>2 replies Tue, 08 Jul 2014 00:05:00 GMT http://www.zillow.com/advice-thread/Renewing-a-Rental-Listing/548783/ 2014-07-08T00:05:00Z I can not find my rental listing. Why? http://www.zillow.com/advice-thread/I-can-not-find-my-rental-listing-Why/548770/ <p>MLS 3154422, 242 W. Stearns St., Rahway, NJ 07065</p><br \><br \>1 reply Mon, 07 Jul 2014 22:25:00 GMT http://www.zillow.com/advice-thread/I-can-not-find-my-rental-listing-Why/548770/ 2014-07-07T22:25:00Z SELLING PRICE OF 9 CONNORS AVE METUCHEN NH http://www.zillow.com/advice-thread/SELLING-PRICE-OF-9-CONNORS-AVE-METUCHEN-NH/548735/ 1 reply Mon, 07 Jul 2014 19:04:00 GMT http://www.zillow.com/advice-thread/SELLING-PRICE-OF-9-CONNORS-AVE-METUCHEN-NH/548735/ 2014-07-07T19:04:00Z Has anyone used owners.com to get on the mls and realtor.com? Was it worth it? http://www.zillow.com/advice-thread/Has-anyone-used-owners-com-to-get-on-the-mls-and-realtor-com-Was-it-worth-it/199055/ Looking to sell my house <a href="http://www.zillow.com/for-sale-by-owner/">fsbo</a> and realize that I need to get on realtor.com in order to market the property.<br \><br \>38 replies Fri, 13 Feb 2009 19:29:00 GMT http://www.zillow.com/advice-thread/Has-anyone-used-owners-com-to-get-on-the-mls-and-realtor-com-Was-it-worth-it/199055/ 2009-02-13T19:29:00Z i am looking at homes in southwest, bergenfield, n.j.07621 http://www.zillow.com/advice-thread/i-am-looking-at-homes-in-southwest-bergenfield-n-j-07621/546852/ I find that your prices are very out of sync with the market. where can i get better information<br \><br \>3 replies Tue, 24 Jun 2014 03:22:00 GMT http://www.zillow.com/advice-thread/i-am-looking-at-homes-in-southwest-bergenfield-n-j-07621/546852/ 2014-06-24T03:22:00Z How do I post a sale by owner? http://www.zillow.com/advice-thread/How-do-I-post-a-sale-by-owner/548340/ 2 replies Thu, 03 Jul 2014 19:01:00 GMT http://www.zillow.com/advice-thread/How-do-I-post-a-sale-by-owner/548340/ 2014-07-03T19:01:00Z How to find forclosures/short sale houses? http://www.zillow.com/advice-thread/How-to-find-forclosures-short-sale-houses/545910/ Hi<br/><br/>Me and my wife are looking for a multi-family house. We are a first time home buyers. We are planning to live in one unit and rent out other unit(s). Since we do not have a big budget we are thinking of getting distressed (foreclosures/short sales/auctions) properties so that we can get something that we can afford.<br/><br/>What is the best way find these properties? Are there any real estate agents that have expertise in helping buyers for distressed properties?<br/><br/>We would really appreciate any help.<br/><br/>Thanks<br/>Nik<br \><br \>4 replies Tue, 17 Jun 2014 18:18:00 GMT http://www.zillow.com/advice-thread/How-to-find-forclosures-short-sale-houses/545910/ 2014-06-17T18:18:00Z When buying a house in NJ with an in ground oil tank, must the tank be removed from the ground? http://www.zillow.com/advice-thread/When-buying-a-house-in-NJ-with-an-in-ground-oil-tank-must-the-tank-be-removed-from-the-ground/177906/ 27 replies Wed, 17 Dec 2008 14:49:00 GMT http://www.zillow.com/advice-thread/When-buying-a-house-in-NJ-with-an-in-ground-oil-tank-must-the-tank-be-removed-from-the-ground/177906/ 2008-12-17T14:49:00Z Zillow estimate of my home is $30,000 less than that of "home value estimate" @chase.com. Why? http://www.zillow.com/advice-thread/Zillow-estimate-of-my-home-is-30-000-less-than-that-of-home-value-estimate-chase-com-Why/426579/ I was baffled why some of &nbsp;the exact same townhomes in my development with one less bedroom than mine where valued thousands higher. Also my neighbor added a familyroom, but still have galley kitchen and same size bedrooms and their home is valued @ $100,000 above mine -COME ON!&nbsp;Have a friend in <a href="http://www.zillow.com">real estate</a> in my area. Said Zillow is unreliable - that&nbsp;I should use chase.com. Went on chase site and have to agree that zillow zestimates are way off!!!!<br \><br \>8 replies Fri, 23 Dec 2011 14:01:00 GMT http://www.zillow.com/advice-thread/Zillow-estimate-of-my-home-is-30-000-less-than-that-of-home-value-estimate-chase-com-Why/426579/ 2011-12-23T14:01:00Z Moving out of state - South Jersey Need advice for realtor http://www.zillow.com/advice-thread/Moving-out-of-state-South-Jersey-Need-advice-for-realtor/548519/ I will be moving to South New Jersey with my wife and my 2 dogs. I am relocating for my job and would like help to find a nice rental property. I really would like to be in a nice, scenic location that my family could enjoy. I am not sure how a renting from a realtor woks, we've never had to do it before. Could someone give me some advice on how this works and maybe recommendations?<br \><br \>4 replies Sat, 05 Jul 2014 16:25:00 GMT http://www.zillow.com/advice-thread/Moving-out-of-state-South-Jersey-Need-advice-for-realtor/548519/ 2014-07-05T16:25:00Z has the house at 723 boulevard in new milford n.j. been foreclosed? http://www.zillow.com/advice-thread/has-the-house-at-723-boulevard-in-new-milford-n-j-been-foreclosed/548527/ 0 replies Sat, 05 Jul 2014 17:29:00 GMT http://www.zillow.com/advice-thread/has-the-house-at-723-boulevard-in-new-milford-n-j-been-foreclosed/548527/ 2014-07-05T17:29:00Z