Profile picture for Shawn Ryan Rosa

Shawn Ryan Rosa's Advice

Contributions are sorted newest to oldest.

  • 227 Contributions
  • 0 Best Answers
  • 38 Helpful

Shawn Ryan Rosa wrote:

Are there professionals who will do the paperwork to sell your house?

Answer
A "limited service listing" is what you are after.
January 05 2012
(1)

What are the three most important traits that an excellent realtor should possess?

Answer
experiencecommittment to continued education about the industrycommittment
January 05 2012
(0)

Killing the deal..

Answer
It wouldn't have any effect on a later application for a mortgage.
January 05 2012
(0)

How do I consider a home purchase while drawing disability?

Answer
You can buy a home using disability income. It is illegal for lenders to discriminate based on the source of your income. The problem, however, is that disability income is usually very minimal...therefore, your borrowing capacity is very minimal. In fact, your income may not be sufficient to buy a home that is in good shape and located in a nice area. In that case, you may require a co-signer to help you qualify for a better home.
January 04 2012
(0)

Can I rent a home that is going into forclosure?

Answer
Shanon Rose is incorrect. A bank cannot evict a person with a valid lease in effect under any conditions.Until the home is foreclosed, the borrower owns the home and can do with it as he pleases (including renting it out).If you were to rent the home before it is officially foreclosed on, you have a valid lease and cannot be removed from the home by the bank. This is why banks will often offer tenants of foreclosed properties money to voluntarily give up their lease and leave the property (this money is sometimes known as "relocation assistance."
January 04 2012
(0)

pre- qualification for FHA loan- what exactly is needed?

Answer
You seem to be using "pre-qual" and "pre-approval" inappropriately.A pre-qualification letter requires only that you speak with a mortgage lender and verbally tell them your income and perhaps let them check your credit. Then they issue a short-letter stating the general amount of money your qualify for in terms of a loan to buy a home.A pre-approval requires a bit more - mostly tax documents and bank statements.You will need to have downpayment/closing costs/etc when you make an official application for a mortgage
January 04 2012
(0)

Can a trust be added to a deed/title along with the mortgagee if they are not on the mortgage?

Answer
Yes, the trust can be added to the deed. I happen to be going through this exact situation on a property I have listed right now.
January 04 2012
(1)

Is there anyway of getting PMI off

Answer
Length of time paying your mortgage is irrelevant. You need to have 20% equity in your home to qualify to stop paying PMI.
January 04 2012
(0)

Can I use home equity as a down payment for another investment property?

Answer
You can use the proceeds from a home equity loan for anything you want, including investing in another property, as long as the activity in question is not expressly prohibited by the terms of the loan itself.
December 26 2011
(0)

Spouse - great credit medium income, me - poor credit but higher income?

Answer
If you start speaking with mortgage reps, you will likely find that poor credit negates your high income. You'll end up trying to qualify based solely on your husband's lower income and it will be difficult.
December 26 2011
(0)