asked:


I want to buy a house with my mother and two sisters. They are all on ssi and i work as a caregiver. i don’t believe any of us have great credit but i don’t think our scores are to low. I know we could afford a mortgage, but i am not sure what the steps are to buying a house.

Grace

Maria F asked:


Due to relocation, I’m left with home mortgage and currently renting in new area. No one buying my old house, loan amount is more than value of my home. Paying for 2 homes is too much. What are my choices to unload old home? If I foreclose or short sale, how would that affect my credit and would I be able to take another home loan? How soon?What is the most important thing I need to know? Who do I approach?

Katherine

amyann16 asked:


My husband and I are 1st time homebuyers. We have been preapproved for a house loan, but are not having luck finding what we want. We have toyed with the idea of building our own. What are the differences between getting a preapproved loan and buying a already built house and going through getting a construction loan? Do you have to put money up front for a construction loan? Do you make mortgage payments while the house is being built, or do you wait until the house is completed? Is there a time frame that the house must be built within? If we were preapproved for a certain amount with a homebuyers loan, would we likely be preapproved for the same amount for a construction loan? What other differences should I know about? Since we are first time homebuyers we do not have much collateral (we do have some savings, but not a ton), would that affect our ability to get a construction loan?

DEVIN