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James Callas

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Premier Agent

14 Recent Sales (last 12 months)

Broker - Builder - Designer (25 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Consulting,
Help First Time Home Buyers

Advice

  • (989 Contributions,
  • 22 Best Answers,
  • 142 Helpful)

Contributions are sorted newest to oldest.

Loan Consolidation

Answer

The short simple answer is to refi all under the 3.75% rate.That is a very low rate and a good one.Floating prime loans are fun for awhile but you are chancing a spike in the rate.It is coming and you are gambling when???Go fixed at 3.75% and enjoy the peace of mind of that.Good Luck!James Callas - Realtor®

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Banks not willing to re-fi

Answer

The rock and hard place.............not comfortable at all.2020 is 8 years off............2015 is about 3............If you are current and that is not stressing your monthly funds then stay current, but you must make your long term decision now.Keep one, Keep two, Dump one, dump both.Let me tell what I have seen when the loans are held by a bank and are not government insured.Ask them to set aside a portion if you are able to move one to another lender.Don't be shy with this request.Ask them to set aside on the second home $100,000 and take $133,000 to clear this loan from their portfolio. (note: you will receive a 1099 for $100,000) and it will be treated as income, but you decide what is best.If they agree to the first the second will be easy.On the Home #1 ask them to restructure it as well and request a lower rate to about 4% and set aside $50,000 and refi the $610,000 for 20 years fixed full amortization. That should put you in great shape.I am assuming you have good steady income to service these loans and believe me this is not all that unusual, but you must make sure that all of this works for you, because you will receive a 1099 on the $50,000 as well. You move one and you keep one with the same lender.Good Luck!James Callas - Realtor®  

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How to put home for sale?

Answer

Also consider contacting some the agents on Zillow and offer to pay them a buyers agent commission. That is for bringing you a buyer. It will increase your chances of getting your property sold.Good Luck!James Callas - Realtor® 

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What is the current percent that a seller can assist at closing on FHA loan in June 2012?

Answer

I would suggest that you ask your lender the maximum you can use and ask for that figure. There is no need to ask for more than can be used.Don't just pick a number or a percent out of the air.A good lender will give you a good number.Also it does not hurt to shop lenders. Some have lower fees than others.Good Luck!James Callas - Realtor® 

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Can anyone reccommend a legitimate credit repair company?

Answer

It is best to take the time to accomplish this yourself. 1. Live below your means. (this is hard but will get you the results)2. Pay all bills on time. (creditors looks at ability to pay and willingness to pay)3. Obtaining your free yearly credit report and study same.(www.AnnualCredtiReport.com)The above 3 steps will be a great start on improving your scores.Good Luck!James Callas - Realtor®

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Can anyone reccommend a legitimate credit repair company?

Answer

It is best to take the time to accomplish this yourself. 1. Live below your means. (this is hard but will get you the results)2. Pay all bills on time. (creditors looks at ability to pay and willingness to pay)3. Obtaining your free yearly credit report and study same.(www.AnnualCredtiReport.com)The above 3 steps will be a great start on improving your scores.Good Luck!James Callas - Realtor®

  (1)
How long after BK 7 house was included job loss after 25 yrs parent with cancer, 140 k down pmnt,

Answer

3 years after BK is usually the minimum for lenders to consider financing you again, but look at your overall financial picture before getting a mortgage again.You have or will have a nice inheritance and if you manage it well, it might be better (if you are a disciplined person) to rent something small.Many factors to consider but think about your total situation before getting a mortgage again. Protect your cash and invest it wisely.Good Luck!James Callas - Realtor® 

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What is the current number of foreclosed homes being held off the market by banks

Answer

The buddy buddy system is alive and well.Bankers will make deals for they buddies that you will never see or have a chance for.Don't let that bother you or keep you from finding some really great deals in this market.Notice I said Great!!! deals, not good deals....................keep looking and be Scout Like....."Be Prepared" to act quickly. You are competing with numerous investors......Good Luck!James Callas - Realtor® 

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Where to begin in listing and marketing commercial land in Beaumont, TX?

Answer

Beaumont is a little depressed but some areas are doing good.Contact a broker who specializes in Commercial Property.I will be happy to suggest some, but expect long days on market unless you are just trying to get out from under it.Go to www.JCAD.org to view the current tax value. You can search by owner or address.Good Luck!James Callas - Realtor® 

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