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Can a mortgage assistance offer be appealed? Workout option I’ve been given is unaffordable

I fell behind on my mortgage last year after splitting with my ex and having to close the business we shared. My situation has dramatically improved since—I found work, got married and got back on my feet—but my mortgage company (Fifth Third Bank) wouldn’t accept anything other than the total past due balance after I was 120 days late, so the balance continued to grow every month because I couldn’t afford to pay it all at once. I began applying for their mortgage assistance program last year and have only just now gotten a decision from them. The problem is that they want me to pay the total past due amount over just the next four months, along with my regular monthly payment. My regular payment is around $1650, and they want me to pay an additional $5350 every month (total of $7k) for the next four months. I am not sure that I can come up with that and I don’t want to lock into something that I’m unsure of, especially knowing that if I miss or am late on a payment, they can start for...
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Amazing Deals NO Money to make it happen.

I’m in a frustrating situation and wanted to get some outside opinions. I’m the treasurer of a small condo complex that I also own a unit in. Since joining the board, I’ve helped restore the financial health of the HOA and significantly improve the appearance of the property. Because I know the complex inside and out, I’ve been offered several opportunities to buy units at prices well below their appraised values: One owner wants to sell me her unit for $70,000, even though it appraised around $107,000. Another board member was willing to sell me multiple units for $350,000, with a combined estimated value of $450,000–$500,000. There’s also a unit headed toward foreclosure that could potentially be purchased for around $40,000, despite being worth roughly $100,000. In a best-case scenario, I could end up buying 8 units for about $460,000 that are collectively worth around $650,000–$700,000. About half are already rented, most need little to no renovation, and projected cash flow ...
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Anyone build a modern home recently? Looking for advice on modular vs panelized vs site-built

I’m starting to think building may make more sense than waiting for the perfect house to come on the market. Inventory is really limited where I’m looking (Western MA), and I’m finding that I’m extremely picky. The house I’d like to build is: Modern/contemporary style (not farmhouse) About 2,300 sq. ft. Two stories 3 bedrooms Attached 2-car garage Full basement Wraparound porch On a wooded lot (I have found land I might be interested in) I’m trying to decide between a traditional site-built home, a modular home, or a panelized home. I’ve read that panelized and modular homes can sometimes be built faster than a traditional home, but I’m not sure how they compare in terms of quality, customization, or overall cost. My biggest concerns are time and cost. I really don’t want to spend two years waiting to move into a house, but I also don’t want to spend close to $1 million building one if I can avoid it. My limit is about $800K (preferably $650 to $700K). I’ve heard building i...
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4 unit property; seller did not disclouse rent control

(va home loan) Hello all; my wife loves the property. we are currently under contract, and after reviewing the contract with the disclosures, it is clear the seller did not disclose the rent control. my agent tells me there is no mention of this on MLS regardless, we are very interested to continue. the property is in DC, and we were thinking of doing the small landlord exception to get a rent control exemption. we did an information only home inspection, and it doesn't look too bad; we have cash to fix her up. my question is, how can we leverage this to our benefit? We don't want to walk away; my wife loves it; the concern is I don't like being lied too. edit: List was 575K, and counter was 535K with 6% seller credit, home inspection contigency (VA apprasial cannot be waived) the counter was 535K with 4% seller credit. home inspection contigency waived, visual only (VA apprasial cannot be waived) I accepted. we are in week 1 of closing, and the home inspection was...
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Seeing posts about “best house in the worst neighborhood” giving me anxiety

My SO and I (and our one young and other child still in the oven) just had our offer accepted on a new home. There were multiple other offers in for it as well. We bought our current home a few years ago as our first one knowing it was not checking all the boxes for a forever home so to speak, but weren’t sure when we were going to try and move. Anyways, this new home we just got is only about 7 min drive from our current home. It’s in the same school district, checks all the boxes, and it was a great deal for what you get for it. My SO has known the sellers since childhood. We are planning on staying in this area long term. The only minute reservation about it was the neighborhood. The old neighborhood is surrounded by homes of similar value -ish (say current home is maybe 580k in a neighborhood that would range from 350s-700s) . The new home is the nicest in the few block span (750k in neighborhood with homes more in 300s-400sk). The people who we are buying from put a lot of updat...
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Advice needed: Rent out or sell my single-family home in Metro Detroit? (Moving to Chicago)

Hi everyone, I bought a single-family home some years ago (2,200 sq ft, 4 bed/2 bath + bonus room) in Metro Detroit with cash. My original plan was for this to be my forever home, but unexpected circumstances mean I’m relocating to Chicago, where I plan to buy another house with cash as well. I’ve been researching the pros and cons of renting, but given that I’ll be out of state, I’d love to get some real-world perspectives on a few questions: 1. Sell vs. Rent: Given that I have full equity in the house, does it make more financial and practical sense to sell or hold it as a rental? 2. Out-of-State Landlord & Property Management: As a first-time landlord living in another state, is hiring a property management company a non-negotiable? What should I expect cost/hassle-wise? 3. Single-Family Maintenance: I’ve heard mixed stories about renting out SFHs due to ongoing maintenance demands compared to multi-family units or condos. Has this been your experience? Thanks in advanc...
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Back out before close or after lender fails to get it together for close?

I trusted my nice buyer's agent and went with Zillow Home Loans to finance my condo purchase. This apparently was a huge mistake. I have gotten two home loans in the past two and a half decades, and never before has the process been so dubious, piecemeal, and frustrating. Worse, my experience (terrible communication by Zillow's loan officer and "undewriter" with me, my insurance agent, and with each other; demanding more and more documents just a few days before closing; sending me documents to sign with incorrect figures on them and telling me to "sign them anyway" when I point it out) mirrors the bad experiences I now have read on Trustpilot, where Zillow has a 1.4/5 rating. Apparently from what one commenter was told by their loan officer, the company uses A.I. for underwriting, which almost surely means that they don't understand why that A.I. black box is reaching conclusions and asking for more data and simply push those data requests to the appli...
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New construction vs. resale

House-poor single parent looking to downsize to townhome. Have been searching for 7 months and ready to be done. Which would you choose? (Payments are with 20% down.) New construction: Purchase price: $335K (with fridge and washer/dryer) Rate: 5.5% fixed OR 4.25% ARM Monthly payment: $2211 fixed (PITI + HOA) or $2007 ARM (PITI+ HOA) Pros: walking distance to children's current school, in current neighborhood, beautiful view, backyard, low-traffic street, minimal disruption for kids Cons: interior unit, close-ish to train line (but cannot hear train with windows closed), would have to purchase water softener and filtration system, blinds, and gutters. Resale: Purchase price: $275K Rate: 6.5% fixed (and that's with some points) Monthly payment: $2027 (PITI + HOA) Pros: end unit, yard, good assigned school (same district as new construction, but not children's current school), current owner has made some updates (roof, AC, water heater, appliances) Cons: built 2004...
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I live in Maryland and changed my mind about a duplex.

I signed a lease this Thursday. Saturday night was the first time I went there after dark and I saw a insect leg on the stove. I check behind stove and fridge and there are roaches. I made the mistake of not taking pictures. But there weren't a lot a couple of big ones and very small ones that scattered. I was told there has not been pest in this duplex and I feel lied to. Looks like they scrubbed evidence for a the walk through. Do I have recourse to just not move as my current landlord says I can stay longer. I have only moved a few items last night but put them in the outside storage. I work tons of hours and don't have the energy to battle and put up with roaches as soon as I move in. I don't care about the deposit and prorated rent. They can have it. submitted by /u/ThePurpleAmerica [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1v738mc/i_live_in_maryland_and_changed_my_mind_about_a/
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Potential to buy 410k property for 75k. General advice wanted.

This is all unraveling as I type this, so I don't have a lot of details, but looking for input from outsiders to point out anything I need to know. My grandparents built a 4 bed, 2 bath on 4½ acres in 1978. My Nana passed away about 10 years ago and my uncle bought the house. His health is declining and he's on a fixed imcome and he owns his other house outright, so he is considering selling the house to someone in the family for what he owes ... $75k. Zillow estimated value is $410k. I'm 40 and my partner is 48, we bring home roughly $4,500/month. My sister, 55, is very willing to split the house, I don't know her income but her current rent is twice what our estimated mortgage would be. Ideally, for all parties, we would like myself to be to "owner" and they would be "tenant" in a very casual sense. My credit score is ~800 so I don't see that as a huge issue. My biggest concern is the down payment as we only have about $8k in savings, but as...
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