The buyer's bank was horrible in the end - they did everything to try and deny the loan and the buyer's attorney's office almost lost the deal three times. That's one bank (HSBC) and one attorney I won't be recommending.
Nope - not affected. And this one was a very good offering by the seller - above the norm for a foreclosure sale.
When you are ready, let me know. I can give you a referral to a Realtor down there (and then I get a cut of what they get just for making a phone call - yeah!!!)
If you are doing conventional financing, you might need 10% and that would suck - HOWEVER - now is the time to really consider all your options. SONYMA (state of NY mortgage association) has low down programs and some savings programs geared to home purchases that are very very very good and I would urge you to look into the options now - I can give you the number of someone up here who handles SONYMA. They also have a down payment and closing cost assitance.
Also think about an FHA government loan. They also have low down programs and cost assistance that you may qualify for too.
Email me with questions and reference info if you want.
People may not have to cosign. There is a time frame for verifying funds. If you are "funded" under the time frame (30 or 60 days I think on avg) then they would need to supply a letter stating it is a "gift" to you. If the money is deposited in excess of whatever the time frame is - then no documentation I think is needed for financing. For IRS and taxes though, I don't know but lets email and talk and I'll point you to some people who could probably answer more of these questions directly.
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This was rough.
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(The comment has been removed)
When you are ready, let me know. I can give you a referral to a Realtor down there (and then I get a cut of what they get just for making a phone call - yeah!!!)
If you are doing conventional financing, you might need 10% and that would suck - HOWEVER - now is the time to really consider all your options. SONYMA (state of NY mortgage association) has low down programs and some savings programs geared to home purchases that are very very very good and I would urge you to look into the options now - I can give you the number of someone up here who handles SONYMA. They also have a down payment and closing cost assitance.
Also think about an FHA government loan. They also have low down programs and cost assistance that you may qualify for too.
Email me with questions and reference info if you want.
Reply
(The comment has been removed)
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(The comment has been removed)
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