All Forum Posts by: Ty B.

My wife and I are currently trying to buy my fathers house that is in a IR trust.  It goes like this.

My wife is buying the property solely due to my credit situation not being so great.

I am listed along with my two other siblings on the trust as trustees

There is also an additional property that will go with the house that is deeded separate and owned by my fathers wife solely

There is a note on the house that is aprox 200000.

The house appraises for 300,000.00

The additional 15 Ac that my stepmother owns is worth 45-55K and is free and clear.

We are trying to do this with no out of pocket and end the end have a note for 290000.00

We are having trouble finding a lender cause its so confusing and not a clean deal. 

Our incomes are 70,000.00 and 65000.00 but we cant use mine due to 635 credit. I have just went through a foreclosure deal but I worked it out with the lender and have no judgement or foreclosure the servicer did put 120 days late that I am trying to get corrected. her DTI is 43% mine is 44% based on the payment the new house would be. If you would use both of us together it would be 28% based on the debt and proposed payment. anyone have any suggestions.

I just went through a long process with the lender that owns the note for my house.  Basically we agreed on me staying till May then moving to house I bought.  In return there are no judgments or anything on my credit.  I would like to (after our deal is final) offer them a cash deal for the house.  It would sell for 150,000 quickly and a Realtor friend of mine said he would list for 185,000.00  What would be a good offer and how would I do it?  I really have only spoke with the attorney that was suing me.