Mortgage Consultant Terms
Need your opinion, first-time home buyer?
I just got pre-approved for a $400K loan. I found a home that has a Zestimate (Zillow estimator) of $376K. I’ve also worked the numbers on the comps with my mortgage consultant and came to an average of $375K. The house I’m making an offer on is a short-sell and the bank’s asking bid is between $390-425K. I am making an offer of $390K due to the upgrades on the house (hardwood floors throughout and kitchen upgrades), with terms that the seller pays for all closing cost. First, is that good offer?
Secondly, there are pre-paid (reserves) cost for interest for 1 month, insurance for 12 months and taxes for 6 months. If I paid the sum of these pre-paids, does that mean I don’t pay the insurance and taxes for the first 6 months?
It may be a good offer, but no one can really say for sure without seeing the comparable home data, etc. It’s certainly right in their range, which can’t hurt.
For the escrow account, it needs to be started with funds so that there is enough in it to pay the bills when they come due. The 12 months of insurance pays for the next 12 months, you still have to pay in to your escrow account every month in order to make sure that there is the full premium when the next bill comes due. Same for taxes. You will have to start paying in to that account right away with your first payment.
Credit Ratings & Bad Credit : How to Buy a House With a Bad Credit Score
Michael W. Hudson: Alan Greenspan, Animal House and the Scandal That Never Ends
As I’ve tried to make sense of the Robo-Signing, Document-Backdating Foreclosure Scandal That Never Ends, a couple of things have popped in my head: Animal House and Alan Greenspan. Stay with me here.
The above mentioned are the basic requirements in order to qualify for a home loan. Secondly, I was interested to know how big a home loan I could get considering Mortgage Consultant Terms. As soon as I knew how much, I could start searching for a house.
Mortgage Consultant Terms
I would like to sue CitiMortgage, Inc. for $162.000.00?
I applied to refinance my Home loan with Citibank and was told, by my Mortgage Consultant, that I qualified for a streamline refinance. After I paid the application fee and filled out all the appropriate paperwork I found out that a Mortgage Loan Coordinator had mistakenly coded my loan and no longer would qualify for the “Streamline Refinance.” CitiMortgage now refuses to refinance me at the agreed rate and term.
Do you think I have a case?
You may not have a case. However, the opinions of strangers online who have very little information about this situation cannot compare to the advice your attorney will give after reviewing the documents and listening to you.
Consult your attorney. If you have a winnable case against an entity with assets sufficient to satisfy the anticipated judgment, the attorney should offer a contingency fee contract. In such an arrangement, you would not pay the attorney. The attorney would get paid only if he won and collected the money from the defendant.