Recent content by Irvine_Kat_IHB

Thanks for your comments on short sales. That is exactly what I'm seeing, very sad. Thanks again.

Hi ipoplaya, No, I was not looking at bank owned homes, just homes listed as short sales but the selling price not pre-approved by the bank. Regarding the W. Irvine short term you gave as an example, did the bank initially set the $590K price or the sellers?

jbatzmaru, thank you for your comment. Yes, I did look into one. I am pre-approved with a moderate income mortgage loan with a lender approved by the California Housing Finance Agency. However, the interest rate is high because it is a 100% loan. The last time I asked, Irvine did not have any...

You are right, my comment, I think I can manage, shows I'm not prepared and making a bad decision. I am going to wait and stop looking. Hmmm, maybe I'll go buy a new car..... (just kidding!) Thanks again! Irvine Kat

Just in case you whisper back, I'm off to find some dinner! You have given me sound, neutral advice. I do really appreciate it! Thanks again.

Thanks CalGal!! I will follow your suggestions!

Yes, Trooper, I don't want to waste money on the extra rent. As for the mortgage payments, I think I can manage. I am very resourceful, I've rented rooms in the past when things were tight.

You guys are right, that would solve all my problems and I can afford a bigger place. I just need to remind myself that it's okay to spend the money.

Great twist on the same sugggestions CalGal. Your right, enjoy the children, spend the extra money to have a bigger place, and buy in a few yrs.

Hey irvinesinglemom, I am too. I am determined to buy now because I'm preapproved for a loan with the State's home loan "moderate income" mortgage program. I can get down payment and closing cost assistance. The mortgage rate is high 6.5 but since I do not have a down payment, I like the idea...

Thanks Trooper and ipoplya. So if one is offering for a fair market price, the bank is more likely to approve. Therefore, if I see a short sale that is way below market price, that would be a big warning sign. As for banks already approving short sales, I have only seen one or two...

I have a 1st grader and a 5th grader. The 1st grader is in learning disabilities and receives extra help at school. We rent in Irvine and I work in Irvine. I would like to buy in Irvine just for the schools. For the same money as a condo in North Irvine, I may be able to buy a home in Lake...

The short sales are misleading because the seller may be asking $450,000, the buyer offers $450,000, waits several weeks for the bank to approve the short sale and then the bank denies the short sale. The realtor says there are a lots of short sales that are offering several thousand below what...