whats the differences between special warrant in a general one?and do i have to record the title to get title insurance?
UPDATE: lol looking back on this thread a better question would have been "fastest way to get a house" which is what i really wanted all along instead of a mortgage. so since today nothing has really changed, iv been working, saving my money, and slowly been building my credit. then a mortgage broker gave me a call about i house that i might be interested in, i was just thinking "sure sure i wont qualify," but when i found out the seller was moving next month and was going to stop making payments and let it fall into foreclosure, i sensed a motivated seller and after making plenty off calls and a little bit of work...im a home owner under a warranty deed, and the property makes me -$1800 (240k/280k @ 5.5% fixed, mortgage/tax/insurance)-$900 (heat/water/cable/fathers management fee)+$4000 (average rent of $400 w/ 10 rooms) =$1300 net profitthank you zillow advice community
warranty deed warrants leans to the seller so is title insurance, or even a title search necessary?
"found a PRE-foreclosure* property" thank youwhat is the difference of a warranty deed and a special warranty deed?
found a post-forecloser property that has no leans and is caught up with the payments, but the seller will stop making payments next month as she is moving and doesn't have time to sell the house, she says she has a FHA "assumable" loan. thinking to myself i am wonder what would be some pro's and cons of a Warrenty deed? are there any more beneficial deeds? what would happen to the loan if she just signed over the title? and would it be possible for the seller to co-sign on the loan-to-be-assumed? thank you!
please allow me to explain my situation, i have come across a property that is currently financed under a 30 year fixed fha loan(240k/280k), which is claimed to be "assumable," assuming so i wonder if it is true that i must qualify for a assumable fha loan, and if i wouldn't qualify, what would be some of the pro/cons of a warranty deed to gain control over the property? thank you
alex, thank you i do understand how lease-to-own deals work and in my case that type of deal would be a god send, unfortunately i am looking for a very specific kind of property and with a very specific kind of financing it feel like the two will only meet when i witness a solar eclipse, and from the linked site it does not require membership for info but does to view the actual listings, this is very common for related sites, but is this always necessary?
socal-engr, where can a learn about the RE markets? much material out there is out-dated especially since the recession causing toxic housing cluster f@&*, much material is out of state, and even more material out there is so obviously a marketing scheme to to lure victims into snake oil deals, i have a very hard time determining quality info unless im talking to people face to face, which i have with many mortgage specialist that i have made numerous plans with to receive a loan of ~300k in 12-24 months, of coarse there is a conflict of interest because they do make a commission most of the time, on the flip side there job is secured normally based of customer satisfaction, the only realistic conclusion iv come to is that the only thing that is going to get me house sooner is a angle investment from somebody but im trying to remain open minded by forum'ing and continuing to talk to people
just a stat i want everybody to be aware of, average wages of white males ages 25-65 is $39,403 http://www.commerce.gov/ i dont know if that is gross or net, when dealing with loans is income normally factored in as net or gross? the 35k income for me is net, gross is around 45k, thats not including any overtime which i regularly get, not including any incoming pay raises, not including any expected bonuses, and not to compare myself to the general pop, i just want people to be aware that going to school to get a edu will not necessarily promise me a better job with a higher income, let alone benefits, and factoring in the potential income lost from doing 2-4 years of schooling, and factoring tuition cost
Alex Rodriguez- please enlighten on "more aggressive approaches" like i have said lease options are very hard for me to find any listing of, what are some ways i could find more of those? i normally check listings of all sorts on windermere, Google maps (real estate), craigslist, and zillow