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Carlos Figueira's Answers

Planning to refinance and also make some home improvements. If I start with the rennovations, will my home appraise higher?
Adding 2nd story / additional square footage will give you higher value over a patio providing you are not over improving for area. Close on your new refinance before you begin your improvements.
Does monthly payment quote mean pricipal and interest?
Lender needs to specify if it is P&I (principle and interest) or PITI (principle, interest, tax and insurance). If above 80% equity on a conventional there will be MI (mortgage insurance).....
We have a reverse mortgage but can't afford property taxes. Is there a bank that will include them in the reverse mortgage?
Many elderly individuals do reverse mortgage for that purpose as they may not be able to afford tha property tax and a Reverse mortgage is an option to stay in the home. I don't offer reverse mortgages so I am not sure how of the equity position required to refinance but any Reverse mortgage leder...
Want to buy a house for $600,000 in California, dual income $80k / year. What are my options?
Unfortunetly, once you add the Tax, HOI and MIP your income ratios are going to be way off for a $600,000 purchase. Your income ratio on housing expence can't exceed 46% of your gross income. $3,066 would be your max. payment PITI and MIP include, your at about $2,500 monthly on PI, only gives you $566...
Any cons to fha refi? Will save $65 month overall, MIP goes up and principal goes down???
Same as above BUT if you are considering Fha Refi. there is MIP increase on 4/1 so I would recomend contacting a lender a.s.a.p. and getting your FHA case number pulled before that date!!!!!
Can I qualify for a VA loan after a short sale on a conventional FHA fannie mae loan
Agreed, currently VA requires 2 years from date the short sale is completed.
Only lending in United States....are you moving to the states?
I am 67 years old, still working, but plan to retire when I am 70. I presently own my own home, with approximately
30 Year Fixed rate is @ should refinance a.s.a.p. That would give you a low fixed payment during your retirement years
moving out of state, my mother want to move into this home, can i add her to title so she can get lower property tax rate?
attorney / title company can help you with adding her to the deed in order to try for a reduction in property tax.
I own a home out right I want to remodel but my credit scores are from 677 to 665 to 633 can I get financed?
Asssuming your income qualifies you should be fine. If home has a cost to cure you will have to go with a FHA 203K loan. Make sure you research loan officer if you go that route as many DO NOT know what they are doinjg with 203K's.
Would I be able to refinance and only be listed on title ?
We require 36 Months from discharge on a chapter 7 with re-established credit.
Now that FHA pmi lasts the loan's lifetime, will conventional loans always be a better option?
Depends on your needs, but with increases to the annual and monthly premiums over the last 2 years.......conventional is better option if you qualify.
are there any tax credits for a frist time buyer apply for a va loan
Sorry, currently no tax credits being offered.
Is there a way to get my name off of a deed. The loan was in my husband's name and my name was only on the deed. I have good cre
As long as your name is not on mortgage you should have no problems buying a home. If the property has gone thru the foreclosure process your name should already be off the deed and replaced with the Bank name the completed foreclosure.
Can I sell my home if I've had a loan modification?
Yes, review your modification terms before you list the property as many that had principle payment reductions will have penalties.

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