 I owe more than my house is worth? Felt like i was scammed? |
Hi,
we refinanced our home 3 years ago and took some cash out to pay some bills, now we have to move to another city and to find out that we owe 20k. I dont understand? I talked to an ... |
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 Am I allowed to have two leases for apartments if my one lease is ending a month after I move to the new city? |
| Im currently living in a town and my lease is up June 1st. I want to move May 1st into a new apartment but my landlord is being picky about the lease. Am i able to pay for my last months rent and ... |
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 How long do I need to be at my job before applying for a home loan? |
Hi,
I just moved to this area about 6 months ago and am thinking about buying a house. This would be my first home. Do home loans require a certain length of time on the job?
Thanks!... |
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 Where can I find out if a house that I like to buy has a clear tittle? |
The house is listed in realtor.com it is sitting on a lot of 20 acres or more the price looks to sweet and my fear is to travel see it, buy it, and later found out it has a lean or worst...
Is ... |
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 Builders are supposed to be concentrating on affordable housing, are they not? |
| Just down the roar from my house 45 new houses have just been 'slung' up, Prices range from £367,000. to £450,000, wages in our rural area £20,000 to £22,000. which means youngsters ... |
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 Does my sister have a right to the home? |
| I have a house that my sister and I are on title. She has not made a mortgage or tax payment for the length of ownership. My name is on the loan alone. Now she is claiming that it is her house ... |
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 Why are the interest rates on home mortgages higher for African Americans? |
| I am interested in refianancing my home and getting a new one in the near future but i dont want to be ripped off because of my skin color.... |
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 Can a new home buyer put zero cash down for a home? |
| putting zero down on a house and paying back a ... |
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 IF I PAY my RENT can i STAY ????????? PLEASE HELP? |
| im late on my rent it was due dec 15th and tomorrow it will be due again i will be able to pay both months the last day of jan even if the eviction process gets started between now and then what are ... |
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 Where can I find a sub-prime mortgage? |
| I already know about Qucken Loans. I live In Indiana.... |
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 How can I sell my home for less? |
| Due to an unforseen job relocate, we have to sell our home. Problem is the feedback I recieved on the realtor caravan is that we over-priced. I am not looking to make a dime. I just need to sell the ... |
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| Can a landlord charge a renter this???/? |
| I am on a month to month for $1310.00 a month. The place sold to a new owner and now they are charging $1395.00 plus an additional $100 per month admin fee for being month-to-month, as well as, a pet ... |
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 Apartment complex/ town homes that do not allow residents with children? |
Has anyone ever heard of anything like this? And if so, how could I find one?
Additional Details
I am sure some people will be really offended by this, but I just personally do not like ... |
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frend | Ca i use my credit card to make a down payment for a house? |
can i use my credit card to make a down payment for a house?
credit line $15k max and no balance on CC. can i use it for a down payment? |
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Waine
 |
I know who did it and he survived well, but he did risk getting in debt, he cashed $35.000 together with his woman, bought the house and they managed to keep it all at bay till he was almost under then he just rented every available corner of it and now he owns three. Very risky unless you plan it well.
check these links, there's plenty
of advice throughout if you have time to read:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
if it helps please remember me cheers |
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ken
|
Yes you can, but not directly. You can take the cash as a cash advance (not recommended) or as a balance transfer to another card or a direct deposit into your bank account (certain cc's only).
Also you cannot tell the mortgage company thats where you got the money so you need to season it by borrowing it at least 2 months before you apply for the loan.
I have used this method successfuly for many year but it requires diligence to make sure your interest stays low. |
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oneblondepilgrim
 |
If you can withdraw that cash you can..but you ought to know that at 21 percent interest on the card you are asking for major trouble. |
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bianca
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yes, i agree with Ken, but i thing that would be better to take 100% financing. your interest will be lower and will be tax deductible. |
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Adnan Sallam
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They wont accept it , it cost them percentage to accept credit card. |
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Price is what you pay for value.
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http://money.cnn.com/2006/09/07/news/economy/housing_forecast.reut/index.htm?postversion=2006090713
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
As housing market slump, it is easier to calculate "Rent vs. Buy" scenario. Because "appreciation" is no longer a factor.
Mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it.
If interests portion of the mortgage payment is roughly equal to rent of equivalent property, then it is a decent buy.
For example, let's buy a $500,000 condo with 0% down and apply interests only loan (just like renting a place). Mortgage payment would be $3250/month. It is a bad buy, because you can enjoy same property for $2000/month.
Please note that I assume the tax benefits from home cancel out fees from home association and property tax. For more accurate calculation, consult with your CPA or accountant. But NOT your realtor, whom will say anything to get the deal to go through.
And again, if you like a particular property, then paying more may be reasonable. You are the only person who can decide how much more premium you are willing to pay. |
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tamminator2000
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I wouldn't/. The rate of your house loan is probably going to be lower than the rate of your credit cards. Look at it this way: it might SEEM convienient, but in the long run, it's going to cost more, and you may sell your home before you pay the cost off of the card. My advice: use cash. |
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chickies
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thats plain old stupid? You need credit not debt . Clear credit that the bank will approve a mortgage not laugh all the way to the ????????? Did you ever hear of someone buying a house with a promise to pay it? And the banks look ast all and everything JUst because they extend you a limit they need to know you have resources Not a credit card maybe a co signer
but everyone who has a credit card doesn't get to use it for a down payment thats so ******* nuts |
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doinou
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It depends. If its seller financed, it would probably be ok, but the bank will consider your increased monthly obligation when qualifying you. |
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JP
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If your credit card is maxed out it could lower your credit score and will definitely raise your debt to income ratio. Both factors can affect your ability to get a good interest rate or to even quality for a loan. There are lots of 100% financing programs available and sellers are often willing to help with closing costs especially at this time of year and with the housing marketing cooling off. |
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