 House size and area? |
| If you had a choice... would you buy a big house in a crap area, or a teeny house in a good area? We got schools to consider too...... |
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 I have an adjust. mortgage at 3.875 which is scheduled to go to 5.875 in Sept. Should I get a fixed rate now? |
| I'm wondering if I should ride out the next year at 5.875 and gamble that rates will come down the next time my mortgage adjusts in another year. Just wondering what you think rates will go to?... |
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 Why does my lender want to see my entire bank statement for the last 2 months? |
| Is it not enough to just show the cover page of the statement that shows the opening amount and the closing balance? Why would they ask for the entire statement the shows all transactions in the ... |
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| Should I refinance my 7/1 ARM 2 years early? |
| I have great credit and 40% equity in my home. I took out a 7/1 ARM 5 years ago and have 2 years left. I got a good faith estimate from a couple lenders and found I can refinance and my current ... |
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 Which renters should I choose? |
| Here are the situations. I have a 2 br and 2 bath condo apt. I won't be moving in right away and will sublet it for 6 month or longer or shorter depending on my current situation which I would ... |
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 How many skipped mortgage payments before the bank can begin foreclosure? |
| Lost job in the begining of May. Paid May mortgage payment, but only a fraction of June's. It is now July 21. Can the bank foreclose already? I just sent $600 but still owe $1,000 of June's ... |
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| Can my landlord refuse to let me take in a flatmate? |
| I'm thinking of taking in a flatmate or lodger to help me pay the rent. I will have to ask my landlord for permission. Do they really have the right to refuse? I have a 3 bedroom house and its ... |
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 I'm Buying my first home and I have a question about.....?? |
| Our closing date is set for the end of June this year, but I want to know if typically the owners of the house will let you do any work prior to closing. They have already moved out, and we want to ... |
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Additional Details
I m not able to keep the house so I have to let it go. Please let me know what to when the eviction paper is on my door.
Thank you so ... |
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 My mom is selling her house and has received an offer and she has signed the purchase agreement recently.? |
| She has agreed in the agreement to close no later than 8/1 and to close within a week when their bank say it is ready. But, she heard from her real estate agent that they want to close in the ... |
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 Viewed a new rental property today and the estate agent said? |
| if you rent an unfurnished property the council tax will be less than a furnished one. is this correct. or are they lying to try and get us to sign the contract?... |
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 Do we legally have to pay rent while living with parents? |
| I am 21 and finish uni next month. I'm living with parents in a council house, parents are on housing benefit and dont pay rent. Legally, would i be required to pay rent after completing full ... |
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 Homes in Foreclosure!? |
| What are the requirements and steps taken in order to buy a foreclosed home? Has anyone done it and been sucessful? It's it worth it to try and buy a foreclosure as a young couple? Are there ... |
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 Is a cosigner frowned upon for a mortgage? |
Last time I looked at my credit score it was in the mid-high 500's. Both my parents and inlaws have offered to cosign for a home loan and both have stellar credit.
A friend who used ... |
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Bluezosix | An unwed live-in couple with a mortgage splits up. How does 1 get his or her name of the mortgage? |
Both of their names are on the mortgage. But they splitted up without being married. One still has the house and still making regular mortgage payments. The other one that left wants his or her name off of the mortgage. Also, any difference from the process of removing a name from the mortgage from a divorce if one still retains the home and mortgage? |
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Expert Realtor
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This is one of the hardships of purchasing property and not being legally married.
You would have to refinance the home to see if one person qualifies for the loan, and if that is impossible, then you have to sell and split what is left.
If the rates are higher now than they were when you purchased your home, the lender would probably not allow one of you to credit qualify to remove the other...they would require an entire refinance. |
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Jazz
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One must buy the other out - there is definitely equity in the house. The best choice would be to sell the house and split the profit (if the other isn't willing , off to court you go). The other option is to refinance. |
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2Cute2B4Got
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This question has come up before on this sight. All you can do is try to work out something that is agreeable to you both. However, unlike married couples you have very little legal recourse. If you too can not agree, things will get very ugly. Lesson learned do not buy property without being married. It is difficult enough to split up property when you are married; when you are unmarried you are in for a fight!!! |
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myloanagent
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Easy, all you have to do is a refinance rate and term to remove the other person from the loan and tile; by removing the person from title only you wasted your time because for public records and the bank records both persons are liable for the reapyment of the loan |
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chloe
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The only way to do it is to refinance. |
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bankladyt
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I have been in the business for 10 years. The only way to get your name off of the mortgage is for the other person to refinance without you on the loan. It is also bad because if you leave the relationship without doing this, and your former partner goes late or defaults on the loan, it will negatively affect your credit.
It is a little easier in a divorce situation, because your divorce decree would address what is to be done with the joint property. Generally whomever stays in the home will be granted a certain date by which they have to refinance, and the court may also dictate that the person keeping the home pay the other spouse 1/2 of the equity. |
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dg8499
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it actually depends on what state you are in but regardless you want to get that person off the loan and off of title so you will need to refinance their mortgage all together. |
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acermill
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The ONLY way to remove any person from a mortgage is to refinance the mortgage without that person's name. No lender will remove from the mortgage any name which was used to qualify the mortgage in the first place.
The process is IDENTICAL to that normally used in divorces.
A caution....do NOT think that (if you are the person wishing to be removed from the mortgage) that executing a quit claim deed to the property will handle it. That is the WORST thing one can do, since the person who quit claims ownership interest loses any ownership, but remains just as responsible for the payment of the mortgage. |
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