 What do you think of your local Real Estate?? |
| is the market in your area strong/ weak/ buyers market/ sellers market/ ect.ect.... |
|
 My score is 777,my hubsands 750; I am a recent stay at home mom, will the lender use my score w/out income? |
| I quit my job to homeschool in Nov 07 and we found our ideal home and community last weekend; now I am concerned that my credit will not be taken into consideration without having income. The ... |
|
 Can a text message ever be legally binding as giving landlord notice 'in writing' to end a UKtenancy agreement |
Can they say that a 'text' is the same as 'in writing' legally?
Additional Details
It's ok - i am hoping the answer is no as landlord is trying to evict me on ... |
|
 Housing benefit? |
| i am recently separated, and wanting to move out of maritial home, if i rented house of approx 500 would i get help, as i student on 11,000 in bursaries butthat includes childcare, does any1 kow wot ... |
|
 Do you see any violation in this situation? |
I bought a house last year.Seller was my friend and also a mortgage broker . She wanted to sell her house to me with reasonable price. She also wanted to be a mortgage agent on this loan.
So I ... |
|
 Moving into a new house with roommates; how do we decide who gets the bigger master bedroom? |
| I am about to rent a new house with two of my friends. However, one of the bedrooms in the new house is much larger, has its own full bathroom and a door out to the upper deck. How do we decide who ... |
|
 First time home buyer. How much will the bank loan us? |
| The house is appraised at $90,000. We are approved for it, however, the seller is only asking $85000 for it. I have no idea about mortgages! This is my first one and I'm wondering if we can ... |
|
 Should my rent be less?? |
| I moved into a downstairs duplex studio unit a few months ago. It costs $550.00 a month w/all utilities incl. The first and last months were due in advance. As soon as we moved in our cat got ... |
|
 Reduced Mortgage Payment? |
| Will a mortgage company reduce your payment for a short period of time (2 years) because of a financial set back.... |
|
 What can I do if I suspect my leased home has become abandoned? |
| I have a contract with a couple, where I have leased my home to them under the agreement they were to obtain fianancing within a certain amount of time. Therefore, they have been making payments, not ... |
|
 Is this mortgage fraud? |
| There's a builder in my town who offers something called a 'home trade program'. Just like trading cars, they buy your house when you buy theirs. That's not the part in question. T... |
|
 How quickly can you refinance? |
| How quickly after you buy a home should you/can you refinance if you have an 80/20 mortgage? How quickly can you get a home equity loan if you've done a ton of home improvements that have ... |
|
 If you were a landlord and a tennant needed to break a lease 6 months early, what would you do? |
Would you hold them to the "letter of the law"? or would you be understanding?
Let's assume that the tenant is trying to find someone to take over the lease but has not been ... |
|
|  |
p s | Can i buy a house if i dont have good credit? |
i would like to buy a house but i dont have money or good credit...but i found a house that is real cheap i would love to try to buy...is it possible and what do i do to try? i do have a job i have been at over 1yr.. |
 |
 
Phillyfan
 |
It is possible. You need to do this: Pay all your debt off (Cars, Credit Cards, Everything). You then need a strong down payment (20% down, minimum) This is do able because you should have no debt, so all that money can go to the down payment nest egg. You need to find a mortgage broker that MANUALLY UNDERWRITES their mortgages. If a broker only runs your credit, your likely screwed, but a manual underwriter looks at job history, among other things, and can help you. Churchill Mortgage is a good one (Google it.) Lastly, stay away from ADJUSTABLE RATE MORTGAGES. These will ruin your day. Following these tips will help make whatever house you buy a blessing, and not a curse. |
|
hollywoodmelody
|
Do not try to buy a house now. You will lose what credit you may have and lose the house too.
Save your money up for a reasonable down payment, and get your credit score up.
Some lenders out there are still doing creative financing and they will grab onto you for your innocence in how the process works. Your credit would be ruined for good for a very long time.
I just don't want anyone in your situation to be lead on by the people that are crooked out there. |
|
mrs1123
|
If you don't have money what are you going to use for a down payment? If you don't have money how are you going to replace the $200 water heater should the one you have fail?
How are you going to replace the $6000 roof if it needs new shingles? |
|
diesel6999999
 |
Sub prime loans are all but gone, the selling market is at an all time low, offer him/her a rent w/ option to purchase. Document pmt.s with checks, or money orders for 2 years, and clean up your credit. Purchase home 203-B ,F.H.A. loan House pmt 31%, of gross mo. income, H.P.+ debt 43% GMI, and you will qualify, Good Luck! |
|
Tone
|
You could check with the credit bureau to find out how many points you have and that does make a difference. Also there are many companies out there that tell you they can help you buy a house even if your credit is not the best. The way the housing market is today I would say you have a pretty good chance. Check with your bank, and mortgage companies that would be a good place to start. Good luck and God Bless. Tone |
|
Judy1
|
Depending on how bad your credit is, you very possibly wouldn't be able to get a mortage. |
|
stvenryn
 |
You can do this by looking for people who are selling their house by themselves with "owner financing". They usually don't look at your credit thing as long as you can put good down payment of up to 10%. Since you have a job, as long as you can get some recommendation from your employer they will try to help you. Be willing to pay high interest rate as a incentive for them to sell their house to you.
I am telling you this because I have done it. The toughest part is the down payment. Being single, I checked out of my rental house and lived in my car for more than 3 months to save money for down payment, while at the same time going to work every day. Even then I had to work out a deal to pay the down payment in two installments before we could close the contract. That's not such a pleasant way to do it. But you may be able to live with a friend who is willing to help you and save the money. But you can do it if you put your mind to it and persist with patience.
Some times even real estate people advertise their property acquired through foreclosure and they are also candidates for you. You may have to keep checking the ads every day or week for a few months and call them and check them out before you get a good idea of what's available out there and what kind of reaction you get for your limited monies. Don't tell them about your credit thing unless they ask you. But do tell them about your employer and recommendation from them. Good Luck. |
|
stephenweinstein
|
If the price is so low that you can pay the entire price (in other words, put 100% down, and have no mortgage), yes.
Credit is mainly an issue for getting the mortgage, not for convincing the seller to sell to you. |
|
j s
|
I know this is not the answer you want to hear, but if you don't have any money or good credit, the time is not right for you to be buying a house. Wait until you are more secure and can afford to do it. People buying houses without money is the basis of the current "subprime" meltdown that is wrecking the national real estate scene. The notion that you can buy a house with nothing down and no documentation is pure foolishness. It costs a lot of money to buy a house and that is just the start. It costs every day to maintain, insure and keep one.
Another thing, block any Yahoo Answers users that try to solicit business from you representing themselves as "lenders" or "realtors". No self respecting professional would be pedaling their snake oil over the internet. |
|
divepassion
|
Yes. Sometimes. Interview lots of lenders. Also interview mortgage brokers. Ask them for recommendations. |
|
Alterfemego
|
Well first of all you need to talk to lenders not these Yahoo's here. Do me a favor and talk with local lenders, not Internet lenders. You need to ask about their programs and how they might work into your financial picture. If they tell you that you don't qualify now, you will at least have received the informaton from a professional and made a good contact for the future. Now if it's a no, then you need to begin planning to live within your means, paying off debt and saving some money for down payment. Pay your bills on time each month, and within 1 year you should have enough good credit to be considered for a loan to buy your own place. I know this seems like a lot of work, but remember owning your own home is a privilege, not a right.
Best of Luck! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 11 minutes(s) ago
| | | |
11 | 50 minutes(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
10 | 7 hour(s) ago
| | | |
8 | 9 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
11 | 3 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
6 | 3 week(s) ago
| | | |
11 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
