How Long Before I Can Get Another Mortgage?

A commonly asked question from buyers inquiring about one of our listed properties often comes around to time. After spending a few minutes talking about a property the conversation turns to the buyer and why they are looking. Anymore, it is not unusual to hear "I have recently gone through a (multiple choice) bankruptcy, foreclosure, short sale. Do you know if the owner will finance my purchase or how long it will be before I can get a mortgage?"

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Buying Short Sales and Foreclosures

In 2011, both short sales and foreclosures make up over 40% of the market sales so if you are trying to buy a home for occupation or investment, you are likely going to run into one of these types of sellers.

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Do You NAID?

NAID stands for HUD's "Name Address Identifier." Most importantly, you have no business showing HUD homes unless your broker has one! Here is guidance on how to get a NAID.

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Defective Chinese Drywall Repair Protocols Stir Up Controversy

The US Consumer Product Safety Commission and HUD have stirred up some controversy by siding with the National Association of Home Builders (NAHB) that not all electrical wiring in a home with defective Chinese drywall needs to be replaced.  These three groups opinions and standards vary from a federal Judge who says it all needs to […]

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Should You Get A Survey When Buying A Foreclosure

Recently we have seen buyers opting out of the expense of a survey prior to closing on a bank owned foreclosure.  While a survey may seem like a necessity in rural areas, even in suburban areas it is a good idea.  Some kind of survey (staked or at minimum an improvement location report) will help […]

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No Paws Left Behind Helps Silent Victims of Foreclosure

Tonight, as I forced our big lab to head out to do his duty in the middle of a winter storm, I thought for a moment about survival.  How long could he last outside in the elements?  What about non-domestic animals...they know survival skills.  For domestic animals, pets if you will, survival usually does not […]

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Study States Rehab Cuts REO DOM from 223 to 70 Days Average

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The Best Time Ever For Owner Occupant Buyers

For lots of reasons, foreclosure properties have gotten a bum rap with owner-occupant buyers and their agents.  Much of the problem stems from the non-traditional sales process.  Some of the issue is related to property condition.  It is also fair to state that buyers agents have contributed to the problem by refusing to work in […]

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How To Buy A Foreclosed Home and Make It Home

I think one of the biggest hurdles for any home buyer looking at a home and trying to see how to bring it to a live-able standard is the financing.  The answer for many of the challenges found in these homes is the FHA 203(k) rehabilitation loan.   Unlike a normal FHA or conventional loan where […]

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Some Insurance Claims May Be Best Left Unfiled

One of our properties recently had a ceiling leak over the kitchen. The shower in the bathroom above the kitchen had developed a crack in the ceramic tile surround materials and was allowing a steady stream of water through the floor to the ceiling below. The owner wanted to file an insurance claim for the damages under their homeowners insurance.

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WILMOTH Group is headquartered in Indianapolis and Fort Myers, Fla. WILMOTH Group focuses on providing creative local solutions for a variety of residential real estate needs including, properties for sale, property management services in Indianapolis, and short-term management services in Tampa and Fort Myers.

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