 Credit Cards in America? |
| I'm going to the USA next week and will be using my credit card, will I need to carry with my photographic ID in order to be able to use it? I do in Europe and was wondering if I need to in the S... |
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 What will happen if i use somebody else's credit card? |
| i'm gonna go to canada to visit an old friend. Her dad is gonna give me his credit card to pay for my flight. what will happen when they find out that i'm using someone else's card to ... |
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 Can somebody help me find financing!??!!? |
I just turned 18 (Mar. 8th) and have NO credit. I live in GA
I've been working very hard as well as saving very hard so that I can buy myself a NEW motorcycle
It is a 2007 ... |
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 If you have a credit card and are making more than the minimum payments, does it hurt your credit score? |
| I believe that if you charge your card and make more than the required monthly payments that it would hurt your credit score somewhat the same as if you were to not make a payment at all.... |
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 Credit rating - how is it linked to the individual? |
A friend and myself were discussing this the other day, basically because my credit rating sucks as I rinsed overdrafts and credit cards whilst at Uni.
I'm moving house soon, and we don... |
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 Bill Collectors!!!? |
| If i have a credit card about to go to an outside collection agency. Is it true that as long as I pay some money on it (even if its not the min payment they want) that they cant turn it over to ... |
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 How do I rid my bad credit? |
| I've tried everything I can think of is there something you know that I don't. I would just like to have GOOD CREDIT!... |
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 I have bad credit no real credit cards I need/want to fix it myself. How do I go about fixing it myself? |
| I have bad credit no real credit cards I need/want to fix it myself. How do I go about fixing it myself? I have one credit card with a 200 dollar limit that I had to pay 50 dollars for got it from C... |
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 My partners bank are taking him to court to recover a debt even though he has been on a payment plan? |
| they have told him that they are going to issue a county court judgement against him. he has never missed a payment,yet they are still taking him to court. i am petrified at what is going to happen ... |
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 Are there any companies that will give a personal loan? |
to people with not so good credit ( they only not good thing is that my credit cards are high) but I need money to move out of state
Additional Details
something like a 5000-10000 dollar ... |
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 I cant be brotherd to pay my credit card bill. ? |
I have recently received my first ever vanquish credit card. I spend the whole £700 within a day. I can't be botherd to pay it back and have canceled the direct debit, What the worst that ... |
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 I am getting my first credit card, which one do i get? |
| okay, so i am getting married in six months, and i need a credit card. what are some things i should know before i sign up, because i know nothing about credit cards at all, isn't there some ... |
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 Debt collecting practices? |
| When I was 25 and under my father's insurance, I had surgery. Now, two years later, I must have missed a small bill that insurance paid some on. I moved from home and guess didn't receive ... |
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 Bank accounts frozen, what is the best way to negotiate with the collection agency? |
| I woke up today to find my checking acount with a zero balance, I went to the ATM and could not withdraw funds from my savings accoung. I called up my bank and asked them what was up and they said ... |
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 To file for Bankruptcy or not? |
| Can anyone explain to me how the bankruptcy law works in the USA. what does it really entail and how long after that can you be credti worthy again? IS this a good idea or its just an easy way out ... |
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 APR for a Personal loan... No Credit history... HELP!? |
| I have a friend who is trying to buy a car off of my parents. It's $4000, and she's trying to take out a personal loan. She has NO credit history, but she has a savings account at C... |
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PlasticTrees | Does this seem fair for owner financing (on a house)? Or is the guy trying to make a few bucks? |
My fiance and I have plenty of $ for a down payment on a house, but can not obtain a mortgage. A seller is offering financing @ 8%, and after 1/2 of it is paid (30k) he will give us a deed for trust. If we fall behind and don't pay for 30 days, he pockets all of the money we have invested and we're evicted. He has offered to pay taxes/insurance and just add it on to our principle.
He said that he has "been doing this all of his life". What do you think?
Additional Details
We would be dealing w/a real estate attorney as well (for the documents). |
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Still reading
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If you have plenty of dollars for a downpayment, and you can't get credit, it sounds like you've had credit problems in the past. This guy is looking for that to happen here.
There are two ways to buy with owner financing. One is as described above, and this is bad for both of you, but especially you. You have no guarantee that he can ever deliver a clean deed at the end of this transaction. Far better for him to sell you the house, deed it to you, and then take back a mortgage. If you fail to pay, he can foreclose and evict you. You would still lose most of what you've paid, but you have some assurance that he can indeed deliver a cleanr title. When he tells you he's done this all his life, he may mean he's sold and resold the same house over and over. |
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stan c
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Find a mortgage broker. It's their job to shop around for the best rate. |
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justgetitright
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If you do this the property would not be transferred to you
until you get the Trust Deed, without that transfer he would
be entitled to take the property back, though it would be
a little more complicated with a contract of sale.
The seller wants to avoid the fees and legal fees that he
would need to foreclose if you were to miss a payment.
Suppose that the seller passes away before you get a trust
deed, the contract would not be binding on his heirs,
also if the seller is sued, you can lose your property in a
settlement if he lost.
I would consult an attorney just to make sure but I am pretty
sure that he will tell you to get the Trust Deed and protect
yourself. |
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Sneekrs
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I'd ask a real estate lawyer. They'd be able to tell you if this is fair or even legal. I don't see anything illegal about it but you never know. |
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STEVEN F
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Ask him to transfer the deed at closing like any other sale. In exchange, you will sign a mortgage in his favor the same as you would for a bank loan. This gives both the seller and the buyer the same protections a bank and borrower would have. It sounds to me that he bought a 'Get Rich in Real Estate' tape set from a midnight infomercial and actually knows less about Real Estate than you do. If he has been 'doing this all his life', it has probably been for the same house every time. |
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bandfreak006
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If yall make a notorized contract, then you should be safe, that way if he screws yall over. You Can sue him and have proof.
but get everything in writing. The deal sounds like a rent to own program i have seen over here. As i said get everything in writing, notorized etc. Make sure you make all the payments and you should be safe. |
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harleyboy35
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The advantages of this financing option is that it often has lower qualifying requirements, less paperwork, and the process from qualifying to getting into the house is much faster. On the other hand, this financing option also has a few drawbacks such as: you are dealing with an individual and not a financial institution, you will probably need to involve a real estate attorney to handle the agreement and title transfer, you will probably have to pay higher interest rates, and the terms of the financing will not be as flexible as a financial institutions’. Even if the terms are not ideal, you can view owner financing as a way to gain equity in a home until you can qualify for a more lucrative mortgage.
So make sure your able to buy out the contract without any recourse when conventional financing is available to you. |
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sandman
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30 days is too short,at least 90. |
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BobbyK
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An easy way to protect yourself is to choose the closing company yourself. They will have an attorney (very reasonable) to help you. Remember they will be making money on doing the closing also. I would guess if you have a large down pmt. that 8% is a little high. |
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mark s.
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I think it sounds fair. But PLEASE PLEASE PLEASE do this.....whatever you two agree on, draft up a document stating EVERYTHING and have it legally notarized with both of you signing it. Remember if you do want it notarized, don't sign it until you are in front of the notary public. You can get this done at any law firm or bank. A typical notary costs about 25-50 dollars. This way if he goes back on anything he says, you will have a legal binding document that you can use in court. Good luck. |
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terps007
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i think it sounds good to me |
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