Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


NrthFLGirl

Members
  • Content Count

    381
  • Joined

  • Last visited

  1. OC, I gotta ask because I've not seen it mentioned - but.... is the land "That Which Cannot Be Bought... My Pressshus" still for sale?
  2. Ditech is dead on for my area (Florida). But I guess it's a where you are type of thing. Zillow has always been off for me.
  3. After some clarification on this point - it wasn't that she could not, she simply DID not. She said she had already paid them the $30K but they were not giving her credit for it towards what was due on the note. So, she refused to pay them until they could settle how much she owed exactly. She says she tried for 2 years to get a payoff from them, but they would not give her one. I assume she is being truthfui because the judge agreed with her and took $30K off the final due. And please, take this as it is told to me. People do not always divulge the entire truth about what has happened when things go bad. But, I will also mention the advice 800 so kindly offered! And thanks again. I will let you know the outcome once one has been set on.
  4. Wow, you guys are great!! I didn't expect so many replies so soon! . Yes, I left off the "K" in $90K. OK, so then the jist of what everyone's saying is that IF this is a legitimate offer, then she needs to make sure on the back end, he is going to sell the house back to her at a preset cost. That was kind of what I was worrying about since the house is appraising at almost $100K more than is due, he'd want market value back on it once he is ready to sell it to her. I think she thinks he is going to sell it to her for the $90K she owes and he may have even made it sound that way. I will have to check to make sure. I was also concerned about the rent aspect. And yes, she would be on the street and he cleans up. I also had the same concern about the cashout thing. I knew he wasn't giving her anything and worry that he could default and she'd really be in it since the bank would own the house and they could evict her on the spot because he didn't pay HIS mortgage. fla-tan-- I wish she did have better options. She literally has not made a mortgage payment in 2 years. Each time she got to a head with Centex, she'd declare bankruptcy and get a stay from the court. She's done that 2 times if I understand her correctly. Finally they reached a judgment last month, knocked $30K off of the total due. She spoke with several hard money lenders, but at a 14.75 interest rate, she said her house note would be $1400 or more and she cannot afford it. Also let me add that Centex is telling her they will not allow her to re-fi. Now, I am getting this info second hand, so take it with a grain of salt. But that is what she said. Thank you so much everyone! I will forward this info to her. Yall are truly fantastic!!!
  5. A friend who owes Centex $90 on her home got a judgement for them to begin foreclosure with the sale of the home on the courthouse steps on October 2nd. Last Friday, she got a letter in the mail from an "investor" offering a way out of the mess. What he is proposing is that she sell him her home at the cost of what she owes the bank and then he rents the home back to her and at the end of two years with at least 12 months of rent receipts, he will resell the home back to her. He says he has his own mortgage company, so he would be financing the mortgage. The home is currently appraised at $179K. In the contract docs, it says that he will "only" allow her to buy the home once she has proven that she can do the 12 months of rent. Rent is $1100 and he "doesn't want her home, but only wants to help her out." He is also going to "give" her $10K at closing to help her with a few months rent. Ok, guys, what am I missing? It "feels" wrong to me, but I don't know enough about real estate's dark furry underbelly to be of any help to her. I already told her it felt wrong and that before she signs anything, she needs to go to a RE Attny.
  6. This brings up a question I have always had. What IS best - selling what you have then looking for new? Suppose you have no where to go? Or would it be better to sell and look for new all at the same time hoping you can close and move into the new one at the same time. Maybe renting from the new owner til the house is ready? Just the thought of packing a POD, moving into an apartment for 6 months to a year (construction here takes about that long) and having to move in again makes my head hurt.
  7. Not sure what she's talking about. My 80/20 is fixed with the 20 having a 1% higher rate than the 80 is all.
  8. Before you buy, look into their building practices. My best friend here in town purchased a new construction DR Horton condo less than a year ago. Every owner within months of moving is experiencing severe mold problems because of faulty construction. They basically made them too air tight and placed water carrying/sweating pipes and such in areas that had no way to drain. The DriRite trucks are in her complex daily and they have had to install dehumidifiers in every single unit at the owners expense. Her complex is 95% full and each tenant has had to have their homes erradicated. It's so bad, they were told that the mold problem is permanent. And due to the way laws work, she nor any of the others can sell without disclosure of the problem. I won't even go into the other issues she has had because the list would be too long. But, just be very careful and check out neighborhoods they have built in your area first. Talk to prior owners and MOST DEFINTELY get a home inspector at each step of the way.
  9. And no warranty?? I agree, she needs to run like hell!
  10. You're obsessed? I'M obsessed! I have actually been tracking this topic since you started it . I almost wanna drive down from Jax to check out the Golden Lot Of Dispair. It's like a southern style Lord of The Rings. My Presh shis!
  11. You could try to do what I did which was to purchase a spec model. Depending on the builder, it may have significant discounts attached to it with most of the upgrades you wanted already included. Or, if it doesn't price out how much the upgrades really cost and see if you can do them yourself for less. I wanted SS applicances, but they didn't come with the spec, so I used Sears Outlet and got what I wanted for much less than an upgrade would have cost. Turned around and sold the Bisque colored horrors the spec contained for what they would have cost brandy new.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines