Im in the process of purchasing a home and closing is set
HelloJA: Hello. What do you want help with?Customer: im in the process of purchasing a home and closing is set for next week. However I recently found out my job will be doing cut backs and my income is going to be reduced drastically if I'm not layed off. I explained to to my broker and realtor who contacted the sellers agent. The sellers agent said that they would not sign a termination of contract and they would keep my earnest deposit of $5k as well as go after me to pay for the sellers earnest deposit if I don't close on the loan. Is this legal?.. I live in Florida and the home is in Palm beach county.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: FloridaJA: Has any paperwork been filed?Customer: Paper work for what exactly?JA: Anything else you want the lawyer to know before I connect you?Customer: No
My husband and I just purchased a home in South Florida with
Hi,My husband and I just purchased a home in South Florida with FHA about 3 weeks ago and recently found out we have foundation issues which will cost around $17,500 to repair.We found a large crack in an exterior wall that was kind of hidden by 2 large garbage bins & quickly called a foundation company which confirmed we have foundation issues and the signs where all over the house thru cracks found by external & internal walls some very small some more apparent. Prior to purchase we had the house inspected & appraised by an FHA agent. The day of the inspection we had asked the inspector if the fine line crack on the floor that extended to the other room had to do with foundation issues. He replied that the crack was due to normal settlement of the home which meant the house settled where it should stay from now on . On the structural report part they make the following notes in regards ***** ***** visible cracks:Exterior walls siding & gutters:Note:Seal and maintain settlement cracks regularlyNote:Carport support post is rusted at the bottomInterior walls & Ceiling:Note: living room floor has settlement crack visibleMaster bedroom south base board has termite damage, reference termite report.$250.00At no point do they mention the large crack we found by surprise or that we might have foundation issues & maybe we should seek seek experts advise in this matter. After the inspection the house was shortly appraised by FHA and they did not seem to mention any issues regarding this matter either ( I assume they also go over the inspection report). We are first time home buyers and from our limited understanding FHA appraisals are much stricter and would not approve if the structure was compromised. Is there anything that can protect us at this point. An acquaintance mentioned the tittle insurance might be able to help.Please advise, and thank you very much in advance!
We are closing on a home we sold to a FHA buyer. We agreed
We are closing on a home we sold to a FHA buyer. We agreed to pay $5500 toward closing costs for the FHA loan. We now found out that they are getting a conventional loan. (we did not get this news from the buyer or her real estate agent.) Are we required to pay the $5500.00 at settlement?JA: I'm the Real Estate Lawyer's Assistant. I work with them to help customers like you.Customer: can you see my question above?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: FloridaJA: Has any paperwork been filed?Customer: We have signed a contract for sale and FHA loan was specified. We go to closing abt. 11/15/2016JA: Anything else you want the lawyer to know before I connect you?Customer: we signed an addendum 10/03 saying we agree to pay them the 5500.00 at closing but they didn't say they switched from FHA to conventional loan.
FOR A LOAN OFFICER. I JUST had the closing on my house.(FHA
FOR A LOAN OFFICER.I JUST had the closing on my house.(FHA loan)I would like to apply for sone credit cards,now tgat my score is great.Before the mortgage actually appears on my credit.(maybe in about one month,after first payment).Can I safely apply for credit now?I read that :"Part of some mortgage signings includes a notice that the bank can check your credit again for the next 30 days and retroactively cancel your mortgage"Is this possible?should i read my mortgage docs first?
For a MORTGAGE LOAN OFFICER: I just purchased a house ,with
For a MORTGAGE LOAN OFFICER:I just purchased a house ,with an FHA MORTGAGE,15% down payment.1)If ,after 2 months ,I have another 5% to pay towards the principal(so it would be a LTV of 80%instead of 85%), would I be able to eliminate any portion of the Payment?If yes,whats the process ?do I have to contact lender,and they will appraise he property again,to see if LTV is 80% ,and they will remove something of my payment?2)Would I be able to convert my FHA LOAN to a Conventional Loan LTV80%(w same lender),in order to avoid paying PMI?If yes,whats the process?Would they just appraise the property again,change my interest rate (most probable),and convert my FHA Loan to a Conventional w 20% down(So NO PMI)?Thank you!
Im a Buyer's agent in the purchase of a home. They\ir loan
Im a Buyer's agent in the purchase of a home.They\ir loan is FHA,and we are close to CLOSING,but one more item is missing.The loan officer just said that they need the TERMITE INSPECTION ,as the Appraiser requested it to be done.But they are waiting news from the Underwriter regarding how to proceed.Q:How is this usually done:does the Undewriter/or Loan Officer order the Termite Inspection from their preferred Inspector and then they charge Buyer or Seller for it?Or seller is obligated to pay for it?This is delaying the closing...
I need a legal ESA emotional support animal letter. I don't
I need a legal ESA emotional support animal letter. I don't think the inline ines are always valud.JA: Where is the property located?Customer: ValidJA: Has any paperwork been filed?Customer: Tisnshores Condoes in Gulfpirt FLJA: Anything else you want the lawyer to know before I connect you?Customer: After making the offer I found out they don't allow pets. Some of the buildings in Teonshires do. So I need a sample letter my doctors can follow to get it right.
I had a formal forbearance with BOA, however I default on
I had a formal forbearance with BOA, however I default on the forbearance. I was sent a letter stating I was no longer eligible for FHA formal forbearance. I am now back in foreclosure process. I called to pay all due fees, however, I was denied to make a payment. I then request for the fees to reinstate the loan. I do not have a for sale date as of yet. What are my chances of receiving the information and getting the funds to them before a for sale date occurs?JA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?Customer: Texas.JA: Has any paperwork been filed?Customer: I guess so. The last statement I received on Sept. 19, states your loan is in the foreclosure process.JA: Anything else you want the lawyer to know before I connect you?Customer: How many days the a lender have to send the reinstatement request