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Kara Moll's Advice

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  • 14 Contributions
  • 1 Best Answers
  • 3 Helpful

Kara Moll wrote:

We live in Kansas City - my mother is purchasing a home for my husband and i to live in while im in

Answer
If she owns her home outright, or has enough equity in it to borrow more against it and can cover the debt service within the current loan guidelines, using her existing residence would be an option.
October 06 2012
(0)

My home is fully remodeled and we are asking way below what other similiar houses are going for. Why

Answer
Asking price or listing price has no bearing on final market price -- what someone will actually will pay for it.  It sounds like your agent has a grasp on your local market, and knows what it takes to get homes sold.  Those things, combined with your motivation will get your home sold before the other overpriced competition!
October 06 2012
(0)

can a sellers lawyer kill our purchase ???

Answer
I agree with Pat -- consult a local RE attorney familiar with your particular area and give him/her all the facts/paperwork.  You'll get a much more accurate response.
October 06 2012
(0)

How can I list my home on MLS Service, if I don't have an agent?

Answer
The "Selling Agent" is the buyers agent.  In this case the "Listing Agent" is whomever lists the property in the MLS for you.
October 06 2012
(0)

can i purchase a home just in husbands name only?:

Answer
Great question!Yes, as long as you individually meet the income and debt to income ratios by yourself.  (If she's not on the loan, then she cannot be considered in any of the income.) 
July 27 2012
(0)

Should get I buy another house in the same area (location) and rent it out while the one that I am s

Answer
Unfortunately, your question is incomplete.  :-(  Maybe repond and ask the question again?
July 25 2012
(0)

How close is to close to high voltage power lines and what is a safe distance?

Answer
In Illinois, ComEd (our local electric company) will come to any property and provide a reading at no cost.
July 24 2012
(1)

I was quoted a 3.35% Rate with an APR of 4.999 Why is this?

Answer
Great question!  Lenders are forced to disclose absolutely every fee that MAY be charged and these fees, when added together with the interest rate and then calculated out are what give you the APR on the TIL statement.  Many times the final HUD does not match the TIL because the fees are less.  Ask your lender for a more detailed explanation. 
July 24 2012
(0)

Why has my review not posted

Best Answer
From what I understand it can take up to 72 hours to actually post.  Thanks for contributing!
July 23 2012
(1)

Can equity in a condo be used as a down payment on another property?

Answer
That's a tricky question given the ultra-conservative lending world we're currently living in.  The best answer is, "It depends."  Do you own the condo free and clear or do you have enough equity to scrape up a down payment?If you own it outright, a local bank will most likely be your best bet.  They'll place a lien on the condo and your purchase property and make sure that the loan amount is within their Loan To Value guidelines for lending.If you don't, then there is a whole new set of rules for renting out the property.  For instance, you'd have to have at least six months payments reserves in a bank account to cover months that you may not have it rented.Your best bet is to speak with a local bank -- they are more open to non-cookie cutter type loans.
July 23 2012
(0)