First off, you would need to speak with a lender to apply for a loan and prequalify. When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan.
1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)
2) Credit Report which they will pull
3) Employment History or Business Tax Returns if you're Self Employed
4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.
These are just a few things you should have ready when you begin your buying process. I am a lender based out of Southern California and I have done plenty of loans throughout the Los Angeles area.
Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!
NMLS # 659743... more
Hi Gilma: You are to be congratulated on your effort to improve your credit ... Just to let you know your credit score is a result of several factors. The ratio of low balances to limit (less than 30%); the type of accounts (revolving vs. installment); the age of the account (the older the better 3+ years); the number of accounts; the number of credit inquiries in the last 12 months; your payment history (especially in the LAST 12 MONTHS) .
Without knowing your particular situation ... I would NOT ADVISE you open another account.
Just a little history re: Judgments, tax leins, collection accounts ... they all are handled differentely when it comes to getting your credit ready to get a mortgage loan.
Regarding (life happens type of bad credit) ... the further you get away (time wise) from any late payments or charged off collection accounts the less of an impact they have ... but say you have a collection account that was charged off 12 months ago, then you pay it off and that brings the last activity as to very recent. ... you did good by paying off your account but you actually lowered your score.
You need to pay off your accounts but there is a way to do it and not have it hurt your score. There are many legitimate credit repair companies that can guide you but BE CAREFUL ... many only offer you temporary help and do not do anything to really cure the problem.
If you want more information or a referral to a company that I trust, visit my website and contact me directly ... I would be happy to give you any help and info you may need. The soorner you start getting your ducks in a row then the sooner you can position yourself to buy a home. Good Luck!... more
Sorry OJ but renting out a garage that has not been permitted as a dwelling unit gives you no protection. In fact, the law says they do not have to pay rent at all and the only way to get them out is to call code enforcement on yourself for a non-permitted conversion, and least that's the only way to do it by involving the authorities. Of course, you'll be getting in trouble too, more trouble than your deadbeat tenant.
I can think of some other ways that don't involve the authorities or the courts, but I'm licensed. I can't state those things out loud!... more
Either can be wonderful! What ages are your children?> That may "Tip the Scales", after you research the schools they may attend.
Anything we can do to assist you, just ask!?
Check out http://Got3000.com and register to win a $3,000 Certificate towards the purchase of a home in Long Beach! It would be a great way to start, right? =)... more
You should have your attorney go over the differences giving your specific situation. A short sale is usually better because it may affect your credit for 2-3 years on average where a bankruptcy sticks around for 10. If a short sale is negotiated right, it could save foreclosure and allow you to sell. There are many variables and a experienced short sale listing agent can go over yours with you.... more
FIRST: HIRE A BUYER AGENT REALTOR!!!
Buyer Agent REALTORs work for FREE to the Buyer. NO CHARGE TO THE BUYER.
Their fee is already included in the purchase price. And if you dont hire YOUR BUYER AGENT REALTOR, then The SELLER'S AGENT makes a DOUBLE Commission! So, hire your own Buyer Agent Realtor.
THEN, ask that BUYER AGENT REALTOR to give you advice on the houses you like. Because: YES, you can ask for Closing Costs. YES, you can make a lower offer. YES, you should have an agent that is helping you on this very HUGE money decision.
Give me a "BEST ANSWER" or "THUMBS UP" if this answered your question. Thanks!
If you have more questions: post them, email them, or call me 704-858-2345... more
Hi: I can understand your concern in wanting to check out the crime and safety info for a home you are considering ... Trulia only tracks crime for Long Beach as a whole as compared to Los Angeles County.
If you want more specific information, may I suggest you call the Long Beach Police Department - North Long Beach Division's non-emergency number 562-570-9825. This will connect you to Marlene and she is the LBPD's crime statistics expert for the North Division ... I hope this information helps.
If you want information on how to shop for a mortgage loan, please visit my website at www.janewhitten.com
Good Luck!... more
This information is best obtained by contacting the local law enforcement agency in the area. Here are a couple of websites that also report statistics you ,ay find useful.
Please contact me if you need an area Realtor who can help you find the Right Home at the Rignt Price... more
Personally I am opposed to Lease options. I always suggest to anyone who asks to just allow the renter to have a First Right of Refusal Clause in their lease agreement.
562-430-3053 cell... more
Contact Eli Weinberger at Bank of America, 310-927-2467 or email@example.com. He has helped several of my clients on their loans (including refinancing) for their investment properties and always does a great job. Tell him I sent you, he'll take great care of you!
Please feel free to contact me if you have any further questions or need any help with your properties.
Keller Williams Realty
It depends on several things.....is this a conforming loan? A jumbo? Also...what is an excellent FICO score? 700? 720? 750 or higher? How much money will you be putting down? These are all determining factors. Your best bet is to contact a mortgage broker or lender and get qualified.... more
Hi, that area would be considered north Long Beach. There are some very nice neighborhoods in north Long Beach that offer great prices. If you like go to my website and you can search for that particular area or I can send you the active listings for the area you have mentioned.
Good luck!... more