Depressed Area????

[BigMike]

We have made an offer on a house in Chatham. We are getting the loan papers together an our Mortgage Broker, our bank, says we will have to pay a higher rate due to the fact that Marion County is a depressed area for real estate? WHAT? Last I saw TV closes on some 300 houses a month. :confused: How can I get this information to my banker? Thanks as always for any help.

[Bill-n-Brillo]

Mike, are you making the mortgage arrangements through a bank back home or one in TV?

Bill :)

[graciegirl]

Bill makes a good point. The Villages are KNOWN here but back north, not so much. You probably would get a better deal here.

The new building statistics relate to Sumter county, not Marion county, where Chatham is, but still............

[Pturner]

Hi BigMike,

The Villages in Marion are a mere sliver of the county, which is fairly large and largely rural. Shop your loan!

[rjm1cc]

We have made an offer on a house in Chatham. We are getting the loan papers together an our Mortgage Broker, our bank, says we will have to pay a higher rate due to the fact that Marion County is a depressed area for real estate? WHAT? Last I saw TV closes on some 300 houses a month. :confused: How can I get this information to my banker? Thanks as always for any help.
The bank must not know that the market for home buyers for an over 55 community in Florida is bigger than the county. If they can not give you a better rate start shopping. The foreclosure rate in the Villages would be a better indicator.

[Bryan]

Everyone is giving you good advice, shop your loan, use another bank. Your bank is micro-focused and not really looking at TV housing market. I would recommend Citizens First Bank here in TV as one place to consider.

[diskman]

We have made an offer on a house in Chatham. We are getting the loan papers together an our Mortgage Broker, our bank, says we will have to pay a higher rate due to the fact that Marion County is a depressed area for real estate? WHAT? Last I saw TV closes on some 300 houses a month. :confused: How can I get this information to my banker? Thanks as always for any help.

Have you investigated for train noise in Chatham? suggest you do a search on talk of the villages

[BigMike]

Thanks to all :BigApplause:

We are changing leaders. Call one company today they knew the villages and were happy to take our application!! Looks like we might even be changing banks.

As far as the train noise haven't heard a thing about it plus here in Memphis we live about a mile from a train track and I guess I am strange, no comment Bill!! But I find that train some how relaxing a bit!! Thanks for the heads up. See everyone soon I hope.

As Always thanks to the group what a wealth of information!!!

[aljetmet]

Finally a Memphian interested in TV! We live in the hood near Germantown Parkway. By the way, Regions bank is in TV. They might be able to hook you up. You live in the City?

[BigMike]

Finally a Memphian interested in TV! We live in the hood near Germantown Parkway. By the way, Regions bank is in TV. They might be able to hook you up. You live in the City?

Yes Sir, Off Kirby at Wolf River right behind the Opera House!! :thumbup:

What about you?

[Bill-n-Brillo]

....... and I guess I am strange, no comment Bill!! .......

Bet you thought I'd miss that, eh Mike!!?? :thumbup: Biting my lip as I type this.................. :posting: :1rotfl:

My $.0295 worth - good move with considering other lenders. If you're trying to work with entities back home and wind up not being happy trying to get a deal done, consider contacting Citizens First Bank in TV (as others have suggested). Citizens obviously knows what's going on in TV and are used to working with people who are out-of-state.

Bill :)

[aljetmet]

I live on the Cordova Country Club golf course. On the the par 3 6th hole tee box. I pass near your house quite often. Shortcut to Poplar.

You play?

[BigMike]

Bet you thought I'd miss that, eh Mike!!?? :thumbup: Biting my lip as I type this.................. :posting: :1rotfl:

My $.0295 worth - good move with considering other lenders. If you're trying to work with entities back home and wind up not being happy trying to get a deal done, consider contacting Citizens First Bank in TV (as others have suggested). Citizens obviously knows what's going on in TV and are used to working with people who are out-of-state.

Bill :)

Bill my new friend you never disappoint :highfive:

Agree totally with you $0.295 worth. Hopefully we will be TV'ers by the end of next week!! Lots to do at the new house so there will be further questions about permits and what I can do myself, as I fancy myself a bit or a DIYer!!

Thanks as always for your thoughts and opinions :jester:

[BigMike]

I live on the Cordova Country Club golf course. On the the par 3 6th hole tee box. I pass near your house quite often. Shortcut to Poplar.

You play?

aljetmet

Yes sir I play, if you call it that!! We built a house on CC Drive last house we had. Still have friends in that area. We were down by the Cordova road entrance. When are you planning to become Frog's? We are hoping in the next couple of years to be down there full-time!! Glad to know there will be another MEMPHO maniac in TV's!!

[aljetmet]

You probably lived round the corner from us. If all goes well 18 months 11 days. Nice to meet y'all...

[Bill-n-Brillo]

Mike, let us know how things go with your deal!

Bill :wave: