mortgage: Zero Down Home Loans are Back in Minnesota!
- 10/10/08 10:05 AM
Yes, you can buy a house for Zero Down in Minnesota! My loan officer Chad found a Zero Down home mortgage loan. Interest rates are Fixed between 5 and 6% for 30 years. House payments are Cheaper then Rent It never hurts to call to see if you Qualify to buy house or town home. Just let me know What city you want to live in? How many bedrooms you want? And if you want a house or a town home? You can call Chad or I can have him give you a call. Call Jay with Direct Realty http://www.foreclosurefirstcallforhelp.com/ 612-965-0937 … (0 comments)
mortgage: What is a Short Sale?
- 10/09/08 05:57 AM
A short sale can be a seller's best option for Minnesota residents.A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers' mortgage obligations and closing costs, such as property taxes, transfer taxes, and the real estate practitioner's commission. The seller is unwilling or unable to cover the difference.Some - although by no means all - short sellers may also be in default on their mortgage loans and be headed for foreclosure. However, home owners who bought at the top of the market or who took out large amounts of equity … (0 comments)
mortgage: What Happens in a Minnesota Short Sale When You Have Two Loans?
- 10/09/08 05:01 AM
Two loans or a first and a second produce a different dynamic when working with a short sale in Minnesota. It doesn't matter if you take out a second mortgage to help buy the home or if you have secured a home equity loan after the fact. The second lender will always be in second position, unless the first is willing to subordinate. Ordinarily, a mortgage lender who is in first position will not subordinate the position. First in position is first in the right to collect from foreclosure proceedings. This means when a Notice of Default is filed, if the … (0 comments)
mortgage: Paper Work you Need to Get a Mortgage Loan in Minnesota
- 10/09/08 04:45 AM
The following is a check list of items you will need to give your Minnesota loan officer. First, W-2 forms - or business tax return forms if you're self-employed - for the last two or three years for everyperson signing the loan. Second, copies of at least one pay stub for each person signing the loan. Third, account numbers of all your credit cards and the amounts for any outstanding balances. Fourth, copies of two to four months of bank or credit union statements for both checking and savingsaccounts. Fifth, lender, loan number, and amount owed on other installment loans, such … (0 comments)
mortgage: How Home Owners in Minnesota Qualify to do a Short Sale
- 10/09/08 04:33 AM
There are several conditions that home owners in Minnesota need to qualify for to sell their house using a short sale. Short sales is a hot buzz phrase. Some sellers who decide that their home won't sell at the price they had imagined often start to wonder if they should do a short sale. A short sale doesn't always solve problems, but it most assuredly can create problems. Short sales are not the "saving grace" some home sellers would like to believe. What is a Short Sale? A short sale happens when the lender is shorted on a mortgage, meaning the … (0 comments)
mortgage: Foreclosure and Short Sale Taxes for Minnesota Home Sellers
- 10/09/08 03:56 AM
Home Sellers in Minnesota that do not get signed releases from their bank might owe the IRS money. The IRS says there is no free lunch. If you transfer title on your home, whether voluntarily through a warranty deed or grant deed, or involuntarily through foreclosure, you have sold your home. You might be subject to taxes, even if you sold your home at a loss, either on a short sale or by foreclosure. It doesn't seem fair. What's worse is you might not even find out that you owe taxes until the day you open your mail to find a … (0 comments)
mortgage: Before You Buy a Short Sale in Minnesota
- 10/08/08 10:38 AM
There are a few things you should consider before you buy your next home at short sale pricing in Minnesota. Hire an agent with short sale experience. It's one strike against you if the listing agent has never handled a short sale, but it's even worse if your own agent has no experience in that arena. You need an experienced short sale agent. An agent with experience in short sales will help to expedite your transaction and protect your interests. You don't want to miss any important detail due to inexperience or find out your transaction is not going to close … (0 comments)
Yes, you can buy a house for Zero Down in Minnesota!;)
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