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Tony and Holly Galarza's Advice

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  • 13 Contributions
  • 0 Best Answers
  • 1 Helpful

Tony and Holly Galarza wrote:

QUALIFYING FOR FHA AFTER SHORTSALE

Answer
If you contact 3 different lenders/mortgage brokers they will probably all tell you something different however I do know that I had a client of mine receive an FHA mortgage 18 months after doing a short sale. I also had a client of mine get a mortgage through a Credit Union within 2 months after their short sale closed. It really does depend on who you talk to. I recommend you call a small local lender and see what they can do for you. You may even want to contact a lender who does private funding/portfolio loans like Seacoast Mortgage. They state they can give you a loan within 12 months after a short sale. Feel free to contact me if you have any questions about this. You definitely want to get in this market! Good Luck! Tony Galarza
January 14 2013
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Is a intrest only loan bad?

Answer
YES IT IS!!! Especially if you are planning on making the property you are purchasing an investment. Now if you are getting a Jumbo Loan (buying a home over $1 million or so) then sometimes it is good to do an IOL but on part of your mortgage, not the entire thing. I have someone that can really answer this question for you. Feel free to contact me and I will give you his contact information. He will be able to take your current situation into consideration and tell you what would be best for you to do. I still don't think you should consider an IOL. Good luck to you. Tony Galarza
January 14 2013
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mis appraised

Answer
If you want to send me the address of the property I can do some additional research to see if it is possible to do what you are looking to do. Is the HUD home currently listed? Let me know and I will help anyway I can. Good luck.Tony Galarza
January 14 2013
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Bank keeps putting off making a decision on our offer for a forclosure... What does this mean?

Answer
Hey there Amber,Unfortunately you are playing the REO Game. They usually take their time to answer offers just in case a better offer comes in. Also, $30k under list price us pretty low. Did you do that because it is over priced or because that is your budget? I wish you the best of luck. This is a tough market for buyers because there is limited inventory and there are still a ton of buyers out there taking advantage of this highly affordable market. If you have any questions please feel free to give us a call. We have a team of Real Estate Professionals that would be glad to help answer any questions you may have. Once again, good luck. Tony Galarza
January 14 2013
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Working with a "Team" of realtors

Response
Hey Jennifer,Working with a team can be very rewarding.  That is if you join the right team.  Be sure to take into account all that goes into a successful Real Estate group.  Estimate the number leads your team leader brings in and how they distribute them.  Also know how much they will charge as a "referral" for every lead they give you and weigh it out if to see if it is beneficial. I am the team leader of my group.  However, I am solely a listing agent, and my team are the buyers agents. We found that to be the best.  I give them buyer leads, they give me seller leads. It really all depends on how you want to work.   My only advice for you is really to make sure it is fair.  As the "new member" of the team, I have seen a "pyramid" scheme with some groups, the best leads go to the ones who have been there the longest. Which can be discouraging for new agents. 
December 01 2010
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Facebook

Response
  When I first got involved in my Social Media sites, someone told me that "it is easier to be interested, than it is to be interesting".  It helped me a great deal.  That's what I revolve my entire social media circle around.  I am now approaching close to 550 fans on facebook, in just a couple months.  Its as easy as that.!Good Luck All!
August 23 2010
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How do I get the agent listing off my home when contract has expired?

Answer
FSBO is pretty tough in this market, I would love the opportunity to hear about your home and why you feel it did not sell with your last agent. Our Goals are Your Goals!Drop me an email
June 16 2010
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What does inactive mean? Is the property still up for sale?

Answer
Do you have the property address? I can look into the current status on MLS.  Drop me an email.
June 16 2010
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who lived in this house?

Answer
Someone with a lot of furniture, Are you looking to buy in the area?
June 01 2010
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Foreclosures???

Response
No, you need a REO buyer's agent and a Seat Belt :) 
June 01 2010
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