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Recent FHA questions

I just found out my condominium complex lost its FHA

I just found out my condominium complex lost its FHA approval in 2011. I feel this is a negative to the value of my unit what is my recourse?JA: What state are you in? It matters because laws vary by location.Customer: ColoradoJA: Has anything been filed or reported?Customer: NoJA: This sounds important. The lawyer will definitely help you with this. I'm going to connect you with a lawyer who has 8775 happy customers and a 4.6 out of 5 Rating. Anything else we should know before I connect you?Customer: Yes, I found out when I tried to redo my Reverse Mortgage which originally I got in 2009. My condo has gained in value and I was attempting to increase my credit line and was declined today because of the lack of FHA approval.

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INFOLAWYER

Attorney

Juris Doctor.

41,578 satisfied customers
We have been in our home for 10 years. We applied for a

Hello we have been in our home for 10 years. We applied for a modification 41/2 years ago and repeatedly been turned down Just recently, we were granted a modification (offer) and we plan to decline it because the amount we save is under $90 are choices are foreclosure or short sale. How soon can we purchase something elseJA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?Customer: We are in the state of Illinois and looking to make a purchase in Georgia or Florida. Maybe even put down a large down paymentJA: Has any paperwork been filed?Customer: No not at this timeJA: Anything else you want the lawyer to know before I connect you?Customer: Should we consider renting and if so for how long . How long before we can purchase again. Also is making a purchase in someone else name an option?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,354 satisfied customers
I am talking to a seller about assuming her 1st and 2nd lien

I am talking to a seller about assuming her 1st and 2nd lien mortgage until I can get a fha loan for full amount as owner occupant in July 2017 when tenants move out. (see her comments to me: "Then you can open up escrow as long as you pay closing or I can quitclaim to you once you give me the 6k deposit. The latter is easier for me. But possession won't happen until 7/1 when the lease expires and the tenants have been notified and are cooperative as well.")1.Don't trust her with my 6k unless you think her quit claiming house to me is safe (but probably need to do promissory note to the two private lenders holding the first and second mortgage so they don't send a due on sale clause on me)2.Don't know her tenants but heard they have been slow pay so possibly have to do a cash for keys situation with them to get them out in July?3. Need your opinion on what else you think could go wrong with this deal.

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39,498 satisfied customers
I moved to Rochester, NY and ended up buying a house with

I moved to Rochester, NY and ended up buying a house with the intention of settling in here for the long haul. Right after I moved into my house, I had terrible times at work. I started a job search out of fear of termination due to constant conflict after they bait-and-switched me out as staff augmentation for another company.I worked through two recruiters and could not find a suitable place to work in the area after a month of searching. There wasn't even an interview or a phone screen- nothing available. Using my connections, I found a job in 1 week and was given an offer letter for a position back in California where I moved from.I signed an affidavit of occupancy because this is an FHA loan. I have no intention of getting another loan anytime soon and I'm going to just rent for a time in CA. The thing is, I also wish to rent out my property here because I would have to sell it upside-down.What do I do? I am worried about this affidavit of occupancy, but I've also heard that my circumstance may be an exception. I've also heard I may have to document this somehow. Please help

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RealEstateAnswer

Juris Doctor

35,040 satisfied customers
We hired a realtor to help find a rental property. We found

We hired a realtor to help find a rental property. We found a place we like. It is a townhouse(HOA) we put in a bid and accepted. We put down a good faith deposit(3,000). Just today we found out on our own that The HOA does not allow us to rent the home until one year from the close of escrow.JA: Because real estate law varies from place to place, can you tell me what state the association is in?Customer: In addition to the deposit, we also paid for appraisal and inspection. Should realtor has known that this restriction is possible?JA: Has any paperwork been filed?Customer: What type of document? We have not signed the loan papers.JA: Anything else you want the lawyer to know before I connect you?Customer: We are in California. Property in city of Murrieta.

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legalgems

Juris Doctorate

17,648 satisfied customers
I just purchased a home with an HOA. They do not allow dogs,

I just purchased a home with an HOA. They do not allow dogs, but do allow service animals. I have an emotional support animal prescribed by a psychologist. In my pre purchase interview with the board I reviewed their rules and regulations and checked off boxes on each line stating their rules. One of them said no pets. I signed the document and they gave me a purchase approval document to include in closing of property. I moved in two days ago on a Saturday. I had plannned to go today to give office my letter from my psychologist prescribing the ESA. The HOA members upon seeing my dog told me I lied to them in my interview. They never specially asked me if I had a dog. They say they did. I explained to them that I signed the screening document acknowledging the rules and explained that I did not consider a service animal a pet and thought that since they do allow service animals as required by federal law their was no problem with me doing anything counter to their rules and federal and state laws. They are now threatening me saying they will "review" the matter and determine if I can have my service animal live with me. They also stated that an emotional support dog is not recognized as a service animal under the law and they can decide if they allow me to have the dog live with me. My previous research found that an emotional support animal is absolutely equally recognized by federal law as a service animal just as is a service animal that helps a person with physical disabilities in matters of legal protection to have the animal live with you in any community; with the HOA or landlord not having any right to restrict breed or size. I feel I am being unfairly and illegally discriminated against because of my mental health status. What are you comments on my situation? I look forward to your reply. Eugene Bueno(###) ###-####

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legalgems

Juris Doctorate

17,648 satisfied customers
I am considering purchasing a home theater sellers agent has

Good afternoon I am considering purchasing a home theater sellers agent has attracted an FHA Amendment the seem to me to require I use a particular mortgage lender and unless I'm reading it incorrectly,unless that lender denies me a loan I'm obligated to use that lender which I'm not going to agree toJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: GeorgiaJA: Has any paperwork been filed?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: I don't think so Thank you

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RealEstateAnswer

Juris Doctor

35,040 satisfied customers
My parents died last year and they set up a trust of which

Hello. My parents died last year and they set up a trust of which my brother is executor. We are selling the house, which is on one parcel of land, (1.27 acres), and another vacant lot, (separate but adjacent and buildable .48 acres) and my brother signed a purchase agreement with an FHA buyer in order to get an appraisal. The appraisal came in about $15,000-$20,000 lower than expected, and in that appraisal it says that due to FHA regulation, no value is assigned "surplus" land. Are we now bound by this appraisal that gives no value to a piece of property that clearly has value?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: White Lake Township, Michigan, which is northeast of the Detroit area.JA: Has any paperwork been filed?Customer: Well, the purchase agreement my brother signed.JA: Anything else you want the lawyer to know before I connect you?Customer: The only other issue is that the purchase agreement does not have the correct name of my parents' trust, it is in my mother's name only.JA: Got it. I'm sure you'll come up with a good name.Customer: Will someone contact me?

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legalgems

Juris Doctorate

17,648 satisfied customers
I am three months behind with my mortgage. I do not qualify

I am three months behind with my mortgage. I do not qualify for a loan modification because I did one a year ago an according to the FHA guidelines in need to be within 24 months. The only option the mortgage company could offer me is a repayment but the repayment is $1,000 more than the mortgage that I was already paying which is more than I could afford. I do not know if I should do a chapter 7 and do a short sale or go into my 410k plan to bring the loan current a try to rebuild my credit for the next year and hope the change mortgage companies and struggle to make the payments for the next yearJA: What state are you in? And has anything been officially filed?Customer: IllinoisJA: Has anything been filed or reported?Customer: NO because I am just three months behind so they will start the process at 120 daysJA: Anything else you want the lawyer to know before I connect you?Customer: Because I missed 3 months payments, my credit score has suffered. so that is why I wonder if I should try to borrow against my retirement fund

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Terry Leeders

Partner

Doctoral Degree

2,972 satisfied customers
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