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Patricia Amadi's Advice

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  • 119 Contributions
  • 0 Best Answers
  • 5 Helpful

Patricia Amadi wrote:

How to find a good buyer's agent?

Answer
Good referral is always a plus. Ask people you trust for referral.
November 30 2013
(0)

My name is on a Deed but not the Mortgage? Will that affect my ability to borrow?

Answer
The Mortgage that spouse is paying does that include taxes and insurance (impound account)? Since your name is not on the loan, it will not affect you.
November 30 2013
(0)

How to find owner when only APN is known .

Response
County Assesoros is also online.
January 07 2012
(0)

Can I buy a second home and rent out my current home?

Answer
Banks has caught up on people deceptions. They are calling it 'BUY AND BAIL". Buying a new home and bailing on old one. They are not considering the lease agreement any longer. You will have to buy the new home as an income property with 10% or 20% down payment. Contact a Mortgage Broker for your options. Good Luck
January 07 2012
(0)

what does it mean when a listing says "pending"? Is that the same as "under contract"?

Answer
Thanks Vince for the great response.Sometimes "Pending" could also turn back to "Active" if the sale did not go through
January 07 2012
(0)

Getting an FHA loan in NYC (Manhattan)

Answer
Yes most condos do not accept FHA. Contact a mortgage broker and get Pre-Qualified for a loan. You will know exactly how much to spend on a condo or to wait. There is nothing to be afraid of. Information is power.
January 07 2012
(0)

what rate should i expect 5% down

Answer
Great Score! Are you frm the Twilight Zone?What we are seeing now is 3.5% to 3.75% for owners occupied and4.5% to 5% for income property.You could also pay upfront cost to buy down the rate.
January 07 2012
(0)

My lease expired 8 months ago. Do I still need to adhere to the terms of the lease?

Answer
When your lease expires, it automaticaly become month-to-month.You are expected to adhere to the terms of the lease.Could you specify the actual terms of the agreement that you don't want to obey.
January 07 2012
(1)

Are there any lenders that are allowing FHA streamline refinances on rental properties?

Answer
Now lenders are refinancing if  your property is either Fannie Mae or Freddie Mac. But, you must be current on your mortgage and have not missed payments in the last three consecutive months.Fannie Mae does noit consider credit scores but Freddie Mac does. Both also looks at your loan-to-value (LTV) ratio.Bring out a copy of your Mortgage Statement and look for your Lender's number and call. Request for a lower interest rate.In addition, make sure that you a copy of your current Homeowner Insurance Policy.Good Luck
January 07 2012
(0)

how can i get help and tips first time home buying.

Response
Contact a Lender/Mortgage Broker to Prer-approved you for a loan. You will then know how much to spend. Keep in mind that you also have taxes and insurance and most cases Home Owners Insurance (HOA).
January 07 2012
(1)