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Jerry Current's Advice

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  • 30 Contributions
  • 0 Best Answers
  • 4 Helpful

Jerry Current wrote:

my question is,my credit score is 620 and I've working for more than 9 years at the same company,

Response
Most FHA lender will only go to a 640 FICO score these days.  Also, your husband's credit will still be reviewed in underwriting and any debts in just his name will be counted against your qualification ratios.  His foreclosure should not make a difference to your qualification, but the best way to find out is get pre-approved by a local FHA lender.
February 22 2011
(0)

if a house has non permited rooms can that be added to value of house

Answer
No.  But that does not stop you from enjoying their use.  Be mindful that the City/County in question can make you tear down any unpermittted additions, or require you to get them permitted. 
February 10 2011
(0)

should i walk away from my home because i'm so upside down?

Answer
Can you afford the payments?  Are your payments comparable to rents for a similar property?  You'll have to pay to live somewhere.  I'd try to work out a loan modification with your lender first.  If that does not work and you cannot afford your current mortgage payment, than try a short sale.  Home prices will go back up eventually.  Get more information and tryout all your options before just walking away.
February 10 2011
(0)

what happens when you buy a house and the asking price is not what the house appraised for,

Answer
I could put ten appraiser in a room and they would give me ten different values for a house.  Appraisal are objective, but also subjective.  Meaning the interpretation of the data is the appraisers job.  You should have negotiated a lower price in 2003 if you really felt the second appraisal was off base, or passed on that property and purchased something else.
February 09 2011
(0)

What should I do, when the land is worth more than the house it is built upon?

Answer
Sell it for "land value" if the house is really not up to par.  If the area is really that nice, then some investor will take it off your hands. 
February 08 2011
(0)

Does the square footage shown include the garage?

Answer
No.  If the garage was legally converted, then it is no longer the garage...
February 08 2011
(0)

I was wondering if there are any section 8 or hud homes for rent

Answer
Lynn,Best place to loook for Section 8 rentals is this website:http://www.socialserve.com/Most local Housing Authority office use this site to allow owners to advertise their availabe rentals.  Of course the property will still have to be inspected by the Housing Authority and pass the Section 8 inspection in order for you to move in.Hope this help.  :-)
February 07 2011
(0)

I-Phone as your SUPRA key

Response
Hope the bluethooth change over happens before  I have to buy new infrared boxes because my batteries are running low.  And that is another thing,  Why make a box where you can't change the battery, but have to buy a whole new one.  Way to go GE, that's mighty GREEN of you.
February 04 2011
(0)

The listing agent wants us to enter escrow before bank accepting this short sell offer. Is it ok to

Answer
Hey Spicy,Depends on what your Short Sale Addendum says.  If paragraph B. 1 & 2 have check marks in the blocks, then usually you will not open escrow until after the seller's lender has approved the short sale.  Sounds  like the listing agent wants to make you commit to the process, which I can understand because too many buyers shotgun offers these days on short sales.  Best to discuss this with your agent.
February 02 2011
(1)

When does Zillow change Zestimate after I update the facts?

Answer
From my experience, NO.  They show your updates as "MY ESTIMATE" which shows below the Zestimate.
February 02 2011
(0)