Dec 10, 2016|
House Plans by Countybank Mortgage
Automatically Generated Transcript (may not be 100% accurate)
Or welcome to house plans glad you can be with a us. We have the keepers in the house this week was innocent Iraqis have made it. I hit back so glad you're here we had to get one of those percent in the ambulance trips to give picky about hammering these buttons but I thought. Might have been easier just install studio at home. But. Jose and I am here I mean to be out there move an inch they can limit always exhausted our. Capabilities it tests in the last two lately I only get a lot of planning 'cause we need some that we get a lot of chip for a before we scholarship. Recorded the last twelve minutes of conversation and yeah honoring. Well it is I mean you know it's. Kind of interesting we were having a debate. About. Does a customer really you know all the millennial wanna do it on on the rocket they just won't touch buttons are tired sixty care here and we're sitting here talking about you know the value of the face to face meeting. We've your client yes and you know we've rated it does saying that if we have a customer that is on happier complaining it's somebody that we didn't meet with you face to face him. And they ask you may you brought up a great point is. Europe because you've done it a thousand times. And that's probably not exaggeration you probably have closed them out a little more and polish at her. You you get to where you can read the customers body language and if there are you comfortable were confused you can tale heart to do that through text email. Our phone right yet Asia yet that's exactly right you know it's. Meet some wine in person in talking them through the process some Inky do you know better anybody especially. Thank you Colin the initial consultation and Tauziat and you know it you can tell so much. Meeting with people. And I think they either you can tell also if they have a question on the tip of their tong. But they do not share they wanna ask her how they wanna asking yet you know you can slow day on an in demand now for turned down on him yeah absolutely says. The most important time he's been with your client is the first two hours AM I agree and in normally on the mortgage side. Do not think people might be listening going to hold him only two hours well now with the idea yeah it's it's really in the first twenty minutes I mean first twenty minutes. You can kind of figure out because actually one of the things that I used to love about meeting face to face when I did. Retail business. Is that question of has anybody else looked of this long right and you can tale if they had been turned down in the and you just say it will. You know what happened tell me about what happened because a lot of times. You know it could be malpractice on the part of the previous loan officer Laura could be okay wait a minute the sun McCain be fixed. Today but let's talk about we and cause we we always say it's not a matter if it's a matter wheat rye and you know those types of conversations. Are all almost always better up front because. You know you don't wanna find stuff out later. Well as a thousand moving parts in just with the mortgage. You fill in the real estate transaction dough in another 5000 of them pars different people different. Inspections different things we hammy line items are there on the on the closing disclosure you know. Nobody really wants to do this at the beginning are all down is not why I'm godless design down and talked. Lucky for two hours and then if I was just go to the fair Carol Mann center over closing disclosure. Well what am I and in your case Keith is such agony through houses this company car. You don't person thinking give me into giving you that your mantra that if I had a brand decline that was referred to me yesterday here a couple of days ago. In an act connected with them yesterday handed him warming in the office we met in the Starbucks digital betting usual I think when they were probably just preferred him and the third I was interviewing me just put it that yet again. Dangerous world out there right now. We're interviewing they have I don't know what that reason is Carl Abbott just an hour and a half with the men star puck yeah full hour and a half and it went much longer really. And probably like you said the most valuable part of the entire us yeah I'm working together and actually that hour and a half because that kind of since the pay caps camps and and I tell you another thing that that chances. Anna and I guess I learned this from you Keith is the telling of what it's gonna happen or what could happen trust so that people know. That it happened that almost always goes better face to face because you can say you know if this didn't list. And you can have that conversation about all. What happens if the appraisal comes a pitcher when what you're it is fortunately your season to grizzled veteran right after he thought tells them what's going to I think. Yeah I'll surprises or what what challenges us all eyes the journal objective is to eliminate every surprise that's why when your hop when you're shopping. You're shopping for experience or because those people already confident slalom he started gonna walk through with the dishwasher is gone and he's yes he's already done walked three over the chandeliers bone and you're like. Somebody broken hears god no carrier. Nicest one in town and tell all about switch in the mantle now solely CNN Al and I just some panel outs to change what. Never know what's gonna happen I never know what's and the MLS pictures out look at that Palin and look at baton like keep them notre talking. Hey listen we're gonna and it's our first break we do have some real estate talk about today if you've got a question or comment. Phone lines are open 86644270. Lap 53. And of course takes liners have been as well as 713 or seven. US in the house plans will be back right after this. Welcome back you're listening to house plans JD Chris from county main mortgage. Keith Clark here with the buyer's broker we are taking your phone calls today give us a ring an 86644. Twos 7553. Our shooters at Texas 71307. We'd love to hear from me. And yes a season of Christmas parties we have one last night for. Kelly bank Greenhill and am surprised that everybody was like astonished that we were doing the radio show. And today many don't sit there on send questions and women barely got any thing and not been out at a bed yet I don't know what I a I'm calling you out right now narrow as they are doing a show tomorrow might and it's it is Saturday rights eleven years is ignorant it is yeah very it is seriously ill. So anyway Erica how you. On the radio print out my hours. Perhaps we have thirty. We had a forty hours ago and has earned a week thirty years of experience counts three we got money years of Brea yes the press let us and that was a question I got last night from somebody worst ever Greenwood capital it was a what do you I'll talk about an awesome whenever people ask about. In any injury got involved I can say what she says that she was like oh yeah they love it there again calls and today I didn't hear a major elements class you say quite the same tone Austria. He's in India they do an African 8 o'clock in the morning what is wrong with. Hey. The Dow's value miniature hard time they did thirty CNN our vice CNN however is gonna forget the names that might else why else Columbia area. Anyways today in a they did the white elephant gift exchanging injury in two straight this. Palo Colorado is our flight data at that it was uncertain. Well she has more on that Jack yeah yeah. Excuse me can an amateur future ready to roll says Ed to we have somewhere host of the yen less into that role. Well we did make some odd questions calls and comments by selling anything to do the rules state. Give us a shout this morning at 86644. To 7553. That's 8664427553. And of course she can always she is a text ever 71. And 30771307. Would love to hear from him you know I was talking about you Keith TJD and he said. He said even though even a little under the weather you've been busy. I am in his hand in hand come and working Smart not hard are next time I go ahead I'm on the spy. Is next year going to be better than this year. Three lead is he going to be three years is the only record record record. It will be better only GS about it the more out there when we're out small plane prediction is as last year well last year I think we we should slash everything sucked article I've share. But next year I think we're gonna see normalization. I mean in almost every facet inventory will still be a little bit short. But normalization in the sense that. People are not acting out of this sense of urgency or undue pressure to you'll see. Stabilization I think sat here and and because. Of people Mac grating continuing to migrate to the Arab state. We're gonna see an increase now and yeah I am originally were probably Tennessee at cool off just a pant I would expect. I saw Ali solid two articles this weekend house now as a print whining get the other room a fine. Topped. Three states people are moving into the United States one taking guesses top three states. Well I would say it ain't so moving in the end of a guy. Is that we are one album you know. South Carolina number two I would say surprise aren't one part of because alma all the baby boomers rules and signed Florida or number six Florida's number saying he's an artistic Florida cynics the held on. And in Texas got to be X that's next in the Texas number now and argue and number one. No less because he connects pot yeah. You know if you've got to put a disclaimer all entire guys really got no body and a place zero Colorado are better not on the list at some Brennaman learned in the categories of places you can get kindly yes. That bad there isn't only validation about. I've lived and are now lives in Oregon but worked in Arian in and it's not a bad place organizes you know it's beautiful in my top three movement out top three new and now while New Jersey New Jersey jury you know find it got to do you know length and still raining GB and that's even with a there are guys mile out passing were Chris Christie having to bridge closed he can't get back right yeah. We're still find a way to get out and that's it and then now hold on. Not a reality and Michigan. New York's New York area get out at a number three Illinois as his top three leader Kelly yeah I think yeah I get get get out of Roy talk about get a look at the weather for them this week when it looks it was a crime that net well let's just start up problems earlier and Malia the name players yes that was issued a case have got back what was the number one people were Maybin and and David is our in South Carolina and Vermont was number three Beth I guess more. I don't know if it was a percentage thing but yet I'm having people there's like twenty people in Vermont has a fab movie and yet there really you know PLO was your other article about retirees could somebody tell me a real estate agent told me this week. That they had read something that South Carolina and actually green bull upstate. Was considered like in the top. Placed him do as a retiree I heard about that this is not this was not the other article it was just talking about the economy in South Carolina and how to housing industries bringing in Larry yeah physically yeah well I also solve what probably five or six. Announcements this week about plant expansions into tea. Green would start learned the green DO. I also heard that rates his move in Spartanburg now Kelly I swear I heard downtown and I don't have. Well congratulations and Nikki Haley I'll give her a lot of credit for some of the things as happened in the last he's got a good job and no doubt about it. Listen if you got a question about buying selling anything to do girl's state and tireless must chatter. Give us a call 86644278553. Pro free Colin course can always had us on the text line at 71307. That 713 or seventh. You know one of you keep he joked about show prep one of the things we do when it comes to show prefaced. To pursue hi how do that and so I'll walk in there and ask him what Tony what happened last we have and JD you've had something come up that we need to. Talk to the listeners about one thing that we look for but we should always talk about this says that if we don't think about it or if they're using another wonder they should think about it. Is that the type of fines that are required closing on approach transaction AM you can't show up with a bag of cash and and if the money is going to be more than. Maybe 500 to a thousand dependent on the attorney Kenny from ring a cashier's check. Yeah yeah a lot of people you know one day I actually went to a a real estate luncheon. This week and there are couple attorneys there and ask both on the same question message do you take a cashier's check closing or he moved on the wires only. And down near that has been the trend is to do more of a wire and some people like to prefer a wire. But DN cashier's Jay doesn't mean he's he's been automatically. And so we obviously new evidence of fraud that. Arena beyond around the country against you know and that sort of thing is for security purposes and is the idea so anyway the both of them said they would take a cashier's check but they were thinking about moving towards the YR. Tea how I don't even. See end the wiring instructions myself now for four to security purposes off forward. They email from the attorney. With the wiring instructions just as I paper trail you know if something more to. Do wrong. And insulin we will listen we got our our first caller of the day he has gotten in Greenville kimonos got. Are you were fantastic what do we do for you. A quick question recently we'll back colonel apps are just the first else a little or. And that long ago. And at the wedding did he acquire. Why. They had recently been all about sailing already. And don't. Questioned that what do aspects. That we bring their property are more. Respect that apple giving you more. Dad said as a fantastic question. If you win you get to well let me start this way. Occupancy fraud is the number one type of fraud when it comes to mortgage fraud where people say. I'm gonna do X with the property and do well and so let's talk about that the story about the three types of occupancy. We do your application primary residences. Is you're gonna live there and you're gonna live there for the next year. That's what you're saying. Only application owned the nose in on the mortgage is you're telling that lender. That is going to be your primary residence for the next year and under those circumstances. JD you can tell him you gonna get the best rate possible. Yet that's exactly right to do a primary residence is second home as well but primary residence. He's going to be name is going to be the the best rates assuming your credit Newton in loan to value and alaskans and. And then when you get to a second home what that means is that you are going to live and it sometimes but you are never. Gonna rent it. There will not be able to extra tax returns and find any ruling comes a sound and right not one wait not one day but nine. And then the third part is investment and then when you get into the investment arena. The rates do move JD and the on TV room news and a yeah all right AJ has a point yes my dance so if if you're thinking about doing now what I would tell you is if you're if you got a year or longer in your plan. You can refinance and as a primary residence at the veteran right out there but if you're looking at a shorter term than that then you're gonna need to do it as an investment property. And then when you do it you're gonna play a slightly higher rate what would you say JD. A corner in right. Now I'm TV PS3 age probably someone's dad but you know and the thing is is is to qualify for that news you're gonna build. Skydome that lay and you're looking at a construction when most likely is that kind of what your talking about a construction. Want to get out there and then try to bigger. It'd set. Yeah right so yeah basically what you're gonna do on a construction plan and obviously got a poignant hey how much gonna Selma current home or am I gonna ring. And as far as qualifying news you can emulated a deal yesterday you can actually. The Tinny on top of the depending on your income situation in dad's. You can qualify for the in new construction one on as well as keep the other lion are the other house in line and you've diet. But you need to qualify if you don't have a two year rental history. With those payments you have counted against as far as denting them they won't now I need all set. That payment was rattling commentary you've had for two years. Actually I don't need your Lander will do. You came in I'm at it what they'll do is I if you better in the property for a year. They'll actually do an appraisal on the land so let's let's just make up some numbers and say you're gonna build a 200000 our house let's say aliens worth fifty. That would leave DV based green 80% or would give each 40%. I'm into the deal so to speak as far as a land value assuming you don't know anything on that. And how would be enough to qualify as far as to cash influx early equity into the deal. It's four construction one. Are typically look at it. I just think one thing I would tell you to be aware of two only construction loan when you start talking about perhaps the cause of the current rate environment. I would. I would be careful about when the lock and and what the lock options are. You know Rachel knocking them over time that you need to really. Look at what your options are because. There's a difference between who don't carry the risk owned on the rate where the the builders gonna carry that. Where you're gonna carry it in years wanna make sure that you don't lose a point in raid. During the construction period say something you wanna talk to your lender about and we'd be happy to have that discussion with the if you if you cheat to give us a shot. All right hey Scott let's Tammy Arnold it's let me comment a little bit on the real state sat right. But as he's got a he's got an existing home and he's gonna build a new home and in the question becomes what do I do with my existing sound like keeping it. Or do I sell it. Or do lab. Do and paint and exchange. What do I do with Matt was the highest and issues this property. And so what you should do he's got to sit down and try to map out what things look like for eve. Found in teen years from now. This home that your building is it one that your gonna remain in fourteen years or twenty years is it in an area that is. They would probably be impacted by. Rising prices more than your existing home and then that might help you determine whether or not to dispose. Of these existing home chair and or keep it in ran it now because as we know. You know if you hold that property for fifteen or twenty years to make a great piece of retirement income yes it's the same term. You need to know what you're trying to accomplish by short term and long term and you should sit down with a professional and talk. About absolutely will listen we're gonna head into our bottom of the hour break get some easier we do invite you to get on the phones and give us a ring. Any question you got about buying selling anything to do real estate 866447. A 553. And a course that text line is open 71307. We got a little text here that said for not burn my frozen. No no way he. I think this Vermont only in the summer yes we can tell in the summer. You know are one of our best to calorie that's a firmer money always talks about how beautiful Ramones. Music Chris narrowness. Steve Morse yes right it is the passing me some pictures yeah and I exactly I'll take a postcard hey that's what I'm tired only outbreak got a question or comment give us a rainy 66. For four to 7553. Textron is open 71307. Welcome back he listened house plans JD Chris from Toni Mae mortgage. Keith Clark is here with the buyer's broker with all his talents. And wisdom. And so we're open up the phone lines 8664427. He found 53. We're texas' 71307. We got a couple calls here we'll start off without my consent avail hi Mike are you. Yeah he's done some fine. What do you think Michael thanks for Colin. Sure got to refi question. Currently in my house the past seven years. What the lender. That's soliciting me for a refi. I'm trying to get rid of PMI on my current on it's gotten to the point where that's gonna drop off and probably a year or so. I can understand outs for at least another six to ten years at a summit go to college you're also an. I just wanna see that it's gonna be worthwhile doing a refi. I'd like to reduce the link goes long time as well and the numbers that he gave me were pretty good. Going to be rolling closing and to load in that alone and there's going to be almost a two point reduction in the interest rates. Oh yeah it's yes man now. Eight. Five point 75. 48. PR yeah. Yeah I had them they they were darkened three point nine time what are you. Q 80. I'm not there and yet they eat visit. I guess the issue that I have. Current tax assessment value of the home of the ramp free way. But Allison and usual configuration it's also very large the neighborhood look the last time I got. Refile it which was seven years ago they had to go out of the neighborhood in order to sonic can't. And it worked very well for the appraisal that they came in with a for this state. Mike I don't let me ask you what neighborhood you innocence and they'll. I'm over here and Karadzic sporting heritage creek neighborhood. Yep yep okay lattes something might. One thing that I would take you to do is to get a second opinion from the ball stolen number wine is yelled out. Yeah and and that's that's really what you need because you need to make sure. That. You know that you really get the best deal we've had situations where people go back in the current winner and it's great. We've had people where they go back to the current lender thinking that is going to be you know easier cheaper and it's not mean we have an instance. You know where we've we've found five or 6000 dollars that was you know that we could save somebody about coming to us instead of the oh lender. One of the things that you're gone alike is that. Over this week in Fannie Mae. Is actually updating. Vader there a US system which is the system we run it through to get approvals. And what we've been told is the likelihood. To do were re five. With Alvin appraisal is gonna increase by sixty. Percent yes we start run and loans on Monday says. We'd like you run your first you should see if I have to ask exactly so what that means those they've got all this that. Fannie Mae and Freddie have been compiling all this data. And they're doing an update this weekend it's gonna allow you in certain circumstances particularly if you're in a neighborhood. That if you have an estimate the value. There's a high likelihood they're gonna take that estimate the value as long as it matches. What's in your general area. Now of course we haven't run one yet so we don't know what is gonna look like that's what we've been told Wright did and yep that's exam you're probably. Going to be pleasantly surprised that there because of the rises and the rise in values. Now you did your last two re found. We were in the middle of the downturn right so you have had much less data dilute camp and now and now that the the values have returned particularly down and down in that area where you are. I am particularly recently in the last year take. You're probably going to be pleasantly surprised Yang get rid that I am will be a big deal Joseph would enemies and by about the and I. I Barack I'll say AMI can't say what to do com. Either shoot me an email at ask JDS AS KJD add county bank mortgage dot com. Or better yet if you get a free moments on Monday call me at 331. Home. That's 3314663. This is JD. We can take a look at some deal that you've got in also tell you what a deal with low light with us. And I'll do one of the I'll do an ABM and we'll do a little bit of an automated value modeling digital console your house. Get a good feel for then you knowing and give you some firm numbers to look at. That maybe surprisingly better in what you have. That would be super MI a secession looked currently under. Realizes that I am getting to that point where I am I'm 20% and then and it PMI all Dropbox. And they I guess wanna try to put me back into it. Well hear from you about it when I well not necessarily more PMI but certainly than a year good client and they. You know declines are hard finds that they'd likely have an opportunity to. Look at it again but the. But the other I don't think about it he says about seven years old was it open before may 2009 by chance to united. I've I believe it went very in tune it just missed a park. Yeah I might be on the park target list but yeah. You know yes it's it will rule at that rate. Yep LA Nina is definitely time to do something and you may get into the three easy if you start looking that actually a writer out of twenty yesterday and I priced out of fifteen for somebody idea and all that was in the three so you. Yeah they no doubt that you need to refi either with us or with someone mailed out these big interest and yet that's exactly arrest me oh where there was seventeen for Mya is exactly right but please send us that he Melanie let us work and what do some research up front. And Indy V summer some some M input and then of course if we get so far is to run and it three the automation. I'll be I'll be interested to see if we actually you know JEO gives them through without great without the appraisal and if we do that saves you three or five yeah. We had to occur when there was you know they set up our it would be for critically appraisal. Come and lied my biggest interest right now would be like Doris I cannot say enough don't you payment on a corny or you cut you out there. No Iraqis say you're right now the engine that was an honest answer is yes you are here also you know love what you see there yeah no doubt about it. Given you all call on Monday are great night we did have a great weekend. 331 no less 331 and 466 career she mean email asking JD accounting may mortgage account. Let's go over to let Tracy who's been holding patiently and Tracy are you. It. In Prague. Oh. Well you're breaking up a little bit Q you held the phone plus. It. Can help. And that and eat. 08. We want. Or. Just not. Sure. You. I. The UN LU. I. Not all. They air. Act it was ill thought. Yeah I think that is that is integrity office legend and and it it it takes Keith I think you know. It takes a lot of answering questions to work through that. And on the it's you know it's a hard decision a may play. You know I think if you really sit down and go through it step by step. When nothing left is is is is truly is coming along cancer and now we're gonna him to a break OK Tracy you don't mind we're gonna hang out and let you we're gonna addresses right after the the next right. After this break. We got a break coming up because there are several things we need lies to us the other areas. But we certainly appreciate ecology if you listen in on the other side of the break we're gonna dress everything you needed to hear. And very easy lesson as a great question we're gonna tackle that when we get back after this break. You're listening to house point entity I have a question. Give us a ring at 86644. Twos seventy 53 attacks on his open as well as 71 in three seven. Have you got a question or comment either give answering your shooters a text. Tracy with a great quality and on year current town or you go around and two inches of the a certificate of eligibility which kind of adds. Will spice to the to deceit so we'll be back right after this or address all that. It. Welcome back you listen in the house plans dating Chris from Johnnie Mae mortgage Keith Clark here with the buyer's broker final segment of the show. We had a fantastic call from Tracy right before the break and we're gonna address some of the things she talked about. Anke they kind of goes back to the old age old question that we talked about a lot. Do I just add on to what I got her or do I go out and buy new and there's a lot of different things to consider obviously from the real estate perspective in that regard and. Am both cost. In return on investment what we're really talking about. Is what's the best return on investment yup if our renovate indoor and square footage. And is that that. The best approach. For. Do I start over in my new home sale now remember their cost associated with let's not forget the calls to. Associated with selling and buying it in kanga you can have some expenses associated with selling inning you're gonna have some outside expenses tonight. Not do now or eat this not the same every time but when you go to say oh. In you're trying to plan what that cost might be. 67 will ya that's right on that trying to deal so usually Aggies and and percent. Yeah as a high number net well I'm talking about it on the total. Calls to sell and Barack okay Ayers and never know everything has so called yes I was trying to sale and then back. It's gonna cost you 9% are easily by the way I talk about this. In the context of a client. Buying a house. And then selling it I mean you can't. His I like it call or he can turn a car in the next day by another one if you don't like catcher. And it'll cost you a little money but the liquidity is there and of course on a home start that way sure it's a unique to have your goals and objectives defined right up front. And one of the things that occurs to me once who's talking about and this would go for any renovation. Is how is that renovation gonna impact your property in relation to the neighborhoods and I think that's the very first biggest question is are you going so let's say the neighborhood here so let's say that your gonna add on to your home and you're gonna put a for an elderly parent you're gonna put a down stay years in las week. You know you can do better in math can do bedroom bath kitchen and you know you can you and then the question becomes. How does that fear in the neighborhood and try and have you just over improve the property and some are blisters might not know what that means but tell me what it means that ever brought to. Equally if you're the smallest house in the neighborhood Angeles say you're at 500 square footage and NN brings you to the median size in the neighborhood guinier going to be safe. But if you're at the larger. So as home in the neighborhood let's say in the top 10%. And you add 500 square feet thing you're going to be the largest home in the neighborhood in data fixture value in relationship to what she can. What you can obtain and assailed the prop and of course the functionality of Manning square footage sometimes may or may not be. The right thing today that I dragged from a resale point of you but that's one of the top things to consult a Yankee game really get what we're talking about as your return on investment. Yes here what do I do to this house that gives me the highest return on investment. And if I Manning and in all sweep. Then you have to look at the neighborhood the likelihood of someone else morning about that property in the future. And what is it gonna praise that when your finished helps historically. Adding square footage would be. One of the highest short return on investments now that depends on watcher adding. But you know from our standpoint let's say you go full blown. Kitchen the whole nine yards whom we try to get an appraisal on that property. We're gonna have to find cops have that light talent Paterno if you're at the bedroom and bath that's not a problem yet a bedroom bath in the second kitchen it might not be a problem. But it does make it more challenging. Depending upon when you are one of the things she said JD was you know she is she as a VA eligibility. And using that VA eligibility for refinance. Or using that VA eligibility for the purchase would be a viable option. But but as I understand it not for the construction part you have to get a temporary loan I would think if you're going to do yeah instruction. NL I didn't think about 90%. Head cash out out our VA so if you were going to need money for the renovation. You can take 9% of the current value not that as not react on that as improve the Yankees or if you're buying a new Roman wanna use your VA benefit. You can actually borrow 100%. Of the purchase price of property say he would have to worry about selling your current home for a down payment or anything like daddy can use a 100%. You still need to get qualified Ian would you want about before you sell. Yeah with those payments can litigation there's some you know some things there but. The end but I that's aren't just ability is something that the key earnings that I think is really any initial says she'll have to sit down with someone can we are pretty happy he's being that each step it not not just the financing and also the rail station is the current value. What is the potential future value of the property if I had owned which is what JD referred to as in Peru has improved and then compare that. With that current market conditions home buying news. And what that value would offer you for example if I'm gonna move down the road in cheek and by the way she could move across history so right other neighborhood across the street sure. From Danbury that's a little bit larger home. And what in my get a gift for my money in that neighbor heard vs what am I gonna Hampshire when I finished the renovation here Mike is. And admitted to very good strategic questions. And you really need to sit down this complex and get worse stroke play is a very complex and you may find that if you like he said you may find that if you're on the smaller into the houses in your neighborhood. He may be the perfect thing to do if you're already on the big in size wise. And of course that's not the only factor might be a bad idea that your you know end and then the extent of what is that gonna look like. You know I had a friend one time that. Had a detached garage and in between the house and detached garage they decided to build and then last week and this was this was a truce week. Bedroom bath living room and kitchen. And I'll never forget they live in some more of a rural area we JD did their refinance. In it was during a Tom Nguyen not appraisals were her appraisals were very tired scrutinized and enhanced degree and we really had a hard time. Not get an appraisal would get them an appraisal that gave that property that part of the property any value and of course you wanna do all that we're you know value I mean what good is that. And they lower talking about here's what Tracy needs is a team of professionals I think they like saying yeah I mean first of all you get you got to define your goals and and today it is. Second of all figure out which way you're gonna go a year be you know renovate or binding. If you're going to renovate the knees start talking about bringing in people how much is that in a calls towards financing and income from. The senators sent a overbilled under bill ordering and all that is again about and knew that these are Tom outselling your current house which opens up from you know will be there. Price free cash ratio for well I don't treasure having this such would you say that you can help for Ralph yeah that's right 331 home 3314663. Or she mean email Tracey asking JD Kelly they mortgaged outcomes. Now dazzle and only Tracey there's little bit of pain and suffering and all they asked us happier right bill will be hadn't worked absolutely not guys when they get a tax question today. And it's how long do you have to stay in the Hud home. Arm before you can sell it now. I'm not sure how. Hud home is defined. So Lou let me let me put that caveat caveat out there first but I would tell you. First thing to do which you know what your mortgage because it would have the terms in the air if there are some arm as a general role you can. When you buy a house. You turn around and sell it the next day but there are special programs out there that won't allow that. You may have ball a hug 100 home which would be a special program where you may have to stay in the house a longer period of time. If you've got any type of subordinate financing which will be a second lien. I am Hayes and assistance. Armed sometimes in those cases you cannot sell the property and make a profit you can sell the property that you can't make profit so let's say that you. You get to down payment assistance from somebody. Generally the way that works is there's a what they call a solid second so there will that would give you the money but for the second mortgage on the home. And they will extinguish that second mortgage over a five year period C 20% of the balance disappears every year without you around and make a payment. And it in the five years you you don't have any recapture but if you were to sell a house during the first five years to make profit. Than it is likely humid after repay China says its discount a little complicated question and answer. But as a general you can buy and sell it whenever you won't one thing that you do need to remember those. Is if you buy homes and decide to sell it. And the new purchaser is going to be using FHA financing. There are some time requirement you have a nine day window. You have a 180 day wind. And so do if you sell it too quickly you may preclude some potential buyers but I'm not mean it would use that as patriots are very and I know. There was say some guidance that gave relief from that but that relief is gone away. Any highlight was VA and sometimes they'll scrutinized you know the value jumps and a quick. Period tunnel Gerri and issue in the wisdom of the question is that you do and at the right way you need to know up front but yeah you sign a listing agreement pitcher councilman Marty etc. except yeah and I are shipping priority in the note and mortgage you can have some kind of special program via it also could be. Caught in a document called a writer sometimes the war at a Ryder if there are some special conditions. And you need to go back and look at that loan package because it was an air if you need some help interpreting it Pelfrey issued listening now. And we can get you in touch with a with a real estate attorneys can read it tell you what it means to. You know it's it's only probably a hundred drills pages so it's united so he sounds easier reading this dark crystal clear that. I still think we need to go to one page document. If you don't play you gotta move everybody understands that that's not how we've been everybody understands that Iraq in coming. Tell me somebody that wouldn't understand and tell the attorney explained about what obvious you don't if you don't say she got sick I go yeah yeah change say that's exactly right when. There's more Christmas a computer. Odd I'm doing on the door in the Keith Clark all online message are you really well I got one stop by getting an altar here in Taylor at some point. But done I'm headed their treated I got a 20% off Columbine review right now though I'm not going right now all I they got. There for my wife and daughter in which I'm sure listening this show and actually I think they better stimulus assess whether Gundy I don't know I know we're not going doesn't decide that drive. But you key version done Chapman yeah I'm gonna have easy we can Mary's in the mountains and been in our bench and it's we did tell everybody where you were out with you backed pray for Mary not previous best at Atlanta. Brad and I get their kids get better on his own but it's safe and I never give yeah. At. Are you tell me your miserable when your home in the I guess all right what you've been doing really causing a lot of attention. Doesn't come along and good enough time we'll let Nadia Al where where to. You might Dan hunt again and again and we'll guys don't have a great week and we do appreciate all the listeners. There we had this morning now later none of us Adori integration questions. Yeah listen if you've got a question outside the shows that we didn't answer her phone I need more comments please take the time to send us an email asked. JD at county bank mortgage dot com SS JD accounting bank. Mortgage dot com and if you wanna talk to a real live person. In today's world give us a shout at 864. 3314663. That's 331 home we would love to hear from yet. I'll have a great weekend stay safe and now watch out for that traffic we'll see you next week.