just want to buy a home and all im getting is the run around

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Permalink Reply by Wendy Smith on August 3, 2008 at 5:24pm

what kind of bs are you getting? one suggestion is to talk to a mortgage broker or your bank - get pre-qualified for a mortgage. then you will know exactly what price range in which to shop. often mortgage brokers can refer you to an agent to work with

Permalink Reply by miner swetland on August 3, 2008 at 8:18pm

we did already thru fha. now were looking for a home for the back taxes. if we pay the back taxes is it ours free and clear?

Permalink Reply by HUD Foreclosed on August 7, 2008 at 12:19pm

Real Estate has become a very specialized industry since the 80's. The reason you're probably hearing some Agents giving you certain credentials and other agents giving you other credentials has to do with what they have or do not have experience in doing, as well as what kinds of sales they can or cannot help people with. A Commercial Agent, for example, might not know anything about residential properties (s/he probably does not even have access to a list of available residential properties!). In a similar way, an Agent who doesn't know anything about FHA loans might not be able to help you get into a home with an FHA loan. I mention this specifically because FHA requires specific things of a home and seller when you're buying a home using one of their loans. For example, the home cannot have any lead paint in it to qualify, which means that if want to buy a home built prior to 1978, FHA will not grant you the money to buy the home until the seller removes (or covers) all the lead paint in the home. Sometimes the seller will not have any money to do that with, so the Agent cannot help you get that particular home... other times the seller may just be unwilling to repaint. You should speak with your loan officer about any further questions you might have regarding the details.

Also, ask your lender to recommend a few buyer's brokers with experience in working customers who were approved for FHA loans. The FHA web site
offers a Realtor Referral Request, which can help you get in touch with an agent who has this kind of experience (for free). For the most part, an agent will be honest with you if they cannot do certain things or get you certain things. It is the broker who constantly tells you "I can" who you need to worry about, not the one who admits their shortcomings.

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