 Do I still have to go by a lease when it when it ended 6 months ago? |
| I have been living in my apartment for a year this month. Our lease was month-to-month during that time, and now of course we are month-to-month, but without a valid lease. We have been paying on the ... |
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 Any help out there to prevent foreclosure? |
| I am about to have a huge problem. We took out one of those New Century loans with a low (ours was not that low but...) intrest rate for two years and then they can rais it. We had planned to ... |
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 Are the any government grants out there to help a low income family buy a home? |
| Are there any government grants out there to help a low income family buy a home. I'm a first time home buyer and I can never seem to same any money for a down payment. The cost of the home I ... |
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 Can i charge late rent fees to my tenants? |
| I have been a landlord for about 15 years now and never charged late rent fees to my tenants. I have had lots of problems and think its time for a change. Does anyone know what the process is for ... |
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| I purchased an investment property last year whose price was based around an appraisal which I now believe to be inflated. In looking at other appraisals, the numbers used are very different. They ... |
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 As a HOME BUYER, how does this make you feel? |
| The national association of realtors brags (see link below) that home sellers that used real estate agents to sell their home received a 15.4% higher sales price than sellers that sold their home ... |
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 Just who are all of the people defaulting on their home loans in America.? |
These people made false statements on their applications, and some unscrupulous lenders aided these home buyers.
What is the demographic on these people?... |
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 Lease Tenant Changes? |
| I am a primary tenant of a townhouse in Virginia. My wife who also signed the lease recently left. She has no intention of coming back and I would like to know by law what are my rights as a primary ... |
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 Is it normal for a landlord to charge a full month even if you move in in the middle of the month? |
Additional Details
the rent here goes from the 15th to the 15th. I moved from ny into this place on the 1st. they insisted i pay from the 15th to the 15th.i also paid a security deposit.... |
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 I purchase a duplex built in '05. What typically happens with the security deposits from the current renters |
I am looking at buying a duplex in lehigh (uhg I know its a risk)
the one I've been eyeballing has both sides currently rented out. IF the current owner/landlord collected a security ... |
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 How do first time homebuyers with no credit or fairly bad credit find a good deal on a house? |
| i have no credit and i have some bad things on my credit like hospital bills. i havent been working very long is it possible...!!!!VERY SERIOUS!!!! what about forclosure houses.. *how do i go about ... |
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 How can I sale my 3 bedroom home fast? |
I made upgrades and still nothing ! Close to schools and expressways and not far from lake.
Additional Details
I live in Oklahoma by lake E... |
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 After buying a house, do you have a certain time to get seller to fix things? |
| Say you looked at a house, everything was fine, working, etc. Then right before closing the seller replaced the a/c unit, and after closing you start moving in and one 1/2 of the house's ... |
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 When buying a house, what factors do you base your decision on? |
What are ALL the factors that you would like to be able to have knowledge of before you make the decision to buy a particular house in a particular area?
Give me an exhaustive list and ... |
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ilovecats | Can I sell my house with a mortgage still on it? |
Hello, here is the deal, I owe money on my mortgage, but I want to move to another city. I have a guy who loves the house, but he wants to do the owner financing. I figured I could sell it to him for a higher price than what I owe on it and charge him a yearly interest. I have explained to him that there is a lien on the house and he is fine with it. Basically I see this as better than foreclosing if I can no longer live there and this way he gets to keep it if he finishes paying me the full term of the loan which will probably be 15 years.
By the time he is done paying me I would have full ownership of the house and the title. Then I could transfer it to his name after he finished paying me. I am asking him for a down payment and his monthly payment will include the taxes, and any insurance I pay that way I am covered. So what can I say in the contract that I create, or do I need to get some legal paperwork? Help:) |
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wizjp
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Uh...you are talking about a buy to own option.
Not a game for an amatuer; get a real estate atty involved to write a contract. Need language to protect you if he defaults; to protect him if you die; if you get all his payment and refuse to transfer after the agreement is completed, to keep you from placing additional liens against the property, to protect him if you default and the property is foreclosed anyway. |
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ronidl76
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Basically, you are willing to allow him to use your mortgage loan, live in your house, and pay you only rent essentially?
That's pretty risky. He's leasing to own, but there's no guarantee that he will still want to own your home in 2 or 3 years. You're talking about 15 years. And if you are moving out of state, it would be difficult to stay on top of it.
Have you even run a credit check on him? I know you're eager to sell or get out, but really think about it. If that's your only way, I'd get a Realtor and let them manage the property for you. That would increase your asking monthly price to pay them their commission, but you have to have someone in the area looking out for your home.
This sounds like a bad deal to me. Be careful. |
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ditzydevil82
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Yes it can be done, but you **ABSOLUTELY** need a lawyer and a good one, too. Make sure this guys credit is decent. You could get stuck with him living in your house that is in your name and he could default on payment which would screw you royally especially if your facing possible foreclosure. Best of luck to you! |
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Judy1
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Check with your mortgage holder, or read through your mortgage papers. Some mortgages won't allow this even if you continue to make the payments. And in any case, you can't transfer title to him until it's free from the other mortgage.
Be very careful here. If you do manage to arrange this, and he trashes the house, you are still responsible. |
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mazziatplay
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Pull outyour Deed of Trust and read it carefully. Most of them contain a "Due on Sale" clause which means you cannot sell it like this and if you do the lender can declare you in default and foreclose on the home.
Have you considered that the reason he may want you to do owner financing is that he cannot qualify for a loan because he has bad credit. 100% financing is still available for those with good credit (Fannie Mae Flex 100) so if he wants it make him buy it from you or you could be asking for for more trouble than you want to deal with. |
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Christiane
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Do not allow your circumstances to cloud your good judgment. Contact a real estate attorney for advice. Also, contact your lender to see if this is even a possibility. I would hate to see you allow this person to move in and then destroy your property. Invest the time and money now to protect yourself and your home. |
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Al
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A good place to find answers like this is http://lbalending.com/
At least they have helped me with similar questions. I hope this helps |
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carmen m
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Well are you goiing to be in the loan? because if he stops paying the loan, that will go to your credit and your'r responsible |
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pbuilder_novis
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I am not an expert in this area but I would think you should be able to draw up a sort of rent to own agreement. I mean this seems to be more in your favor so if you are not attempting to transfer the property now then you should be in a good position. |
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