My wife and I are trying to buy a foreclosure and want to correct it. We both have bad credit, so we coudln’t our own home, even if I have enough money to get a mortgage. I am setting up my credit, but has no deadline for the next two months to get a house. We found a co-signer, but the mortgage broker, said, we can not have, because our credit is not big enough. So my father is a mortgage and we said we should get a loan FHA 203K, then he intends to make a quick note immediately after I became the owner of the house. mortgage broker, said it is difficult these days to get this type of loan and real estate man, said he is not. I had a few questions if anyone has any knowledge or personal experience with this kraami.1. Can I get a tax deduction because I do a good deed, after a fast or not? Second Someone said that the limit of $ 35,000 is the FHA 203K loan for home repairs, if I buy a house and my mortgage was $ 40,000 $ 70,000 to spend every penny I have to repair? If there is an extra, I keep it until something goes wrong, like the basement leak or rupture of an oven? Third I was also told that you need a licensed contractor in writing of the repairs, etc., but they must be prepared for late payment? How is this so, because I thought after getting a mortgage, you can view and pay the contractor? Back Taxes on this house is very big, and people could turn to the city, but I heard it often does not mean they will cut taxes. Why do they make you pay property tax on the price and what are the chances that they lower my taxes? Thank you to all who contribute to teema.Ok, maybe I’m confused as a boon for business. The estate agent said that if he writes something good for me, I am the owner of the house, he would simply charge the mortgage. Obviously I would pay a bank or to pay each month, but below, it can not happen? My real estate agent must be mistaken.
We just got our first mortgage loan closing and we need to catch up on the second – Quick! We have quite a few small problems that are not supported. We had perfect credit for nearly 20 years until a few years ago. We have filed for bankruptcy, I think it helps 2001.Hope guru credit! In addition, we are independent and our income is very good now.