 Should we buy a house? |
| My boyfriend and I have been together for 3 years and plan to marry within the next 2. We are currently renting an one bedroom apartment for $500 a month. We found a house we like that is newly ... |
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 Why don't we qualify? |
| My husband and I are looking to buy a house. We took first time homebuyers classes, made out a budget for what we can afford, checked our credit scores, and paid down our only credit card by a ... |
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 Should we take the offer? |
| my mom got an offer to buy a house for 89,000 dollars it has 4 rooms a living room a dinig room 2 restrooms 2 garages a pool and a jacuzzi. We have a house with 5 rooms right now we got it for 84,000 ... |
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 Is it wise to re fiance if I have 15yrs left to go on payment? |
| My question is Well Fargo will refiance at no cost to me. I have 8% interest now and they fiance at 6.7%. Do they start out taking the majorty of the payment as interest. Will I come out the same or ... |
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 If i am making $30,000 a year, and wanted to get an apartment at 475 a month, would i be able to do it? |
City : Memphis
150 Dollar Insuance Payments a month
50 Dollar Cell Phone Bill
No Idea what utilities are
But i work week on week off so they wouldnt be too much
Any ... |
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 My Fiance and I are going to start looking for a house after the first of the year.? |
| I have no idea on how to buy a house. We both have excellent credit, and are not in much debt (with the exceptipion of my car). Our yearly income's combined ranges between $70-75 thousand. My ... |
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 1st Time Home Buyer Getting Cold Feet!? |
So I am getting ready to buy my first home and I am excited. The more I think about it the more I worry about me affording my mortgage payment.
Details -- I make 71,000 a year and bring ... |
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 So confused on buying a house!!!? |
| We don't know what to do...where to start. Anybody have any "learned from" experiences they wanna share? Do's, don'ts, watch out fors...any piece of info will be helpful.... |
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 When is the right time to increase your tenants rent? |
| I currently have tenants renting my house. They would of been in the property for a year in January 2008. Is it acceptable to increase the rent by 5% in January?. I have a mortgage on the property.... |
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 Does the landlord need to have our key? |
| Do we have to give key to the landlord if we change the locks? My landlord comes into my house and looks through personal information and i can tell because when the landlord comes in she moves ... |
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 Going to court over back rent.. will we win?? |
| When we first moved into this house, our shower wouldn't drain. It would overflow before we even got out of the shower so we figured it was clogged. Well, we told the landlord and she bought ... |
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 Buying a house question? |
| if i earn just over 13 grand a year is there any realistic chance i could get a half decent mortage?... |
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 How to deal with tenant doesn't pay rent? |
| I have a tenant who rejected to pay the rent for this month. I have already followed BC tenancy act to give him a 10 day notice. According to the residency act, he has to move out within 10 days if ... |
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 What is a reasonable % rate for a Real Estate Agent to charge? |
| I'm located in Southern California and after speaking with my Realtor, he gave us a 5% commission rate, 2% for him and 3% for the other agent.... |
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 Is it true one can buy a house with 30% down no income verification? |
I heard this from a friend and was wondering if it is true?
30% down payemt on a ... |
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 How can I sell my house faster? And make it more likable to the buyer? |
| My house is in Palmdale, California. It was built in 94' and is in great shape. Four rooms, tile, carpet, great condition. My real estate agent is not doing a good job in promoting the house. I ... |
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 Can I get a home equity loan with a credit score under 500? |
| My husband and I own our home free and clear and have been having trouble getting financing because of our credit score. I am guessing that our home is worth approx $125k, I am guessing. (our ... |
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funtimeslife321 | Are bi monthly house payments a good idea? |
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Dano N
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All of the answers before mine except 1 has no clue about bi-monthly payments. I have worked for the past 20 years for a mortgage company that offers bi-weekly payments. Here are the facts. First not all mortgage companies offer it. Check to make sure yours does. Most that do require you to be on a auto back draft. The reason for this is that if you where to mail them they would not be received in time, most of the time and defeat the purpose of doing it. Most DO NOT charge extra for this service. Now you make 26 half payments that's equal to 13 full payments per year. If you have a 30 year mortgage by doing the bi-monthly payment that loan will pay off in 18 years 6 months. A savings of 138 payments!!! So if your payment was say $800 per month x 138 months = a savings of $110400.00 and you are done with the mortgage 13 years sooner!!!!!!!!!!!!! |
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BaseballGrrl
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If you can pay your whole payment amount twice in a month you can pay off your house really fast. I know a guy who did it in half the time. |
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deb1975@sbcglobal.net
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Yes it's a good idea because by paying every 2 weeks u will gain a half payment during 3-pay months which will put u 1.5 payments ahead and to the principle...over a 30 yr mortgage on a $125,000 house...u would save $10,000 in interest. It also insures you are never late with a payment, so keeps your credit in good standing, and keeps you from ever having late fees |
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MC Shakie
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Yes if you get paid bi weekly they make the cost seem lower but its actually not, but it definantly helped me manage my money better and I have not been late yet, I've been making bi monthly mortgage payments now for a year and my credit scores have gone up, I make my payments because they seem so low and I cant forget and Im never late becase every time I get paid I know I gotta fork over $300 vs having to put off paying the mortgage because when the statement arrived it was $600 and that is half of my biweekly check and something else would go unpaid, or something so I am horrible at managing money so it helps because it makes the payments feel lower. |
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Jessica
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yes yes yes yes yes....for any loan that is simple interest (every loan) you save a TON. Have a lender run the numbers and you will see. Instead of making a lump payment you are saving half a months interest on what you paid which pays your principal down much fast. Also if you EVER make extra payments make it to PRINCIPAL ONLY! |
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Rockies VM
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The idea of paying off your home mortgage early is a very good idea.
But the commitment that you HAVE to do it, ties your hands and decreases your options in case of financial emergencies.
You can ALWAYS make an extra payment to be applied to the Principle. If each month you send an extra 8% over your normal payment and include a note to pay that against the principle, you get the same advantage. And if times get tough, you can suspend the overpayment.
you will have almost the same advantage but retain your versatility. |
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cocoanutt
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If you do it yourself, but don't pay the mortgage company to do it for you. You will lose money with the fees. Make payments every two weeks, or one of these other suggestions.
http://www.mtgprofessor.com/A%20-%20Biweekly%20Mortgages/Do%20you%20need%20help%20to%20repay%20early.htm |
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Yoda's Tattoo
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Yes, but don't let a company do it for you. They are basically charging you a fee to do what you can do yourself, and that is to pay half of your mortgage every two weeks. |
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DennistheMenace
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no.... |
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