 When is the best time to buy a house? |
| I live in Los Angeles and I want to buy a house, but it seems like the house prices are dropping. Is it best to buy a house when the prices are rising or lowering?... |
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 I can no longer afford paying my house, what its going to happend if I just stop making the payments? |
| I always been on time with all my payments and my credit is very good, if I just stop making the paymets on my house, whats going to happend, will I get in trouble? what kind of trouble? or the bank ... |
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 I am looking for someone to make my mortgage payment next month? |
| also...I need someone to help me pay my property tax...man...It's a lot...nearly 6,000...If no one helps me, I would be sad. Please dont make me sad. Christmas is coming and I want to get my ... |
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 Can landlord sue for this even after losing the house to foreclosure? |
| 3.5 years ago i rented a place. after 6 months we broke the lease and moved out due to a broken relationship. I gave the landlord 2 months notice and paid the rent thru the time we lived there. There ... |
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 Landlord didnt fix heater right now keeps asking if we want to buy the house? |
| My landlord is a do it yourselfer and replaced our heaters with 110's on a 220 circuit. It never heats up very well now and I keep telling them I am paying more for electricity but am always ... |
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| Which makes more sense? Splitting rent by people or rooms? |
There will be 3 adults and 2 kids in a 4 bedroom house. Each adult will have a room and the kids will share one. Is it fairer to split the rent by 3 for each person or by 4 for each bedroom?
A... |
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 Housing Bills - whats the average?? |
Will be getting a flat next month - after the rent costs etc etc what is the rough average that everyone spends on BILLS
(electric, gas, water)
I do realise i live in rip off Britain
<... |
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 I have listed a home with a real estate agent in Washington. Can I sell it for sale by owner? |
| I have listed through an agent. But someone has contacted me to sell the property to them and save on commission. Is this possible? Will I have to wait until the listing ends,..to sell it?... |
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 Buying a house and earnest money question? |
| My co-worker just told me that tomorrow she is suppose to close at 10 am but had a walk through today and there were four things not fixed yet that the current owner of the house was suppose to fix. ... |
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 For those of you that are experienced real estate investors.? |
| Is there anything you know now that you wish you knew when you started out. Please share your stories and any advice for a beginner.... |
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 Is going into foreclosure as bad as bankruptcy? |
| We are considering going into foreclosure as a last end resort, however we don't want to kill our credit scores forever, so I wonder can anyone tell me,Is going into foreclosure as bad as ... |
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 What is the best way to find properties in foreclosure? |
Is there an online searchable database?
How do you find the properties that you can buy directly from the bank?
And, when you find something you want, how do you make sure that ... |
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 What does market value exactly mean on a house? |
I want to know what my home is worth. And to get an idea of what it can sell for.
But a website told me what my house is on market value. Is this anywhere close? Becuase to me the price ... |
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 Mortgage Calculators? |
These always come up with a figure way too low for the house we think we can afford
Anybody know the best way to work out what we can borrow
Obviously go to the bank but we wanted a ... |
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 First time buyer...What are steps in putting in an offer? |
My husband and I found a great little house in Ohio. We want to put in an offer but I'm a little weary of the steps...
I know to put it contingent on a termite and house inspection, ... |
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 Can you use a fax machine to fax real estate contracts? |
About to buy a home. The sellers have moved out of state. Our agen is a duel agant. Can he legally use the fax machine to fax signed agreements? I always thought you needed originals.
A... |
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| Do I have the right to tell the Apartment Mgr/maintenance personnel to take their shoes off before entering? |
| I mostly ask my close family, friends or relatives to take their shoes off before entering my home because on the inside it's carpet and you know how carpet can get dirty pretty fast especially ... |
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sporty | Can you work with your mortgage lender to have them willingly lower your principle balance? |
Has anyone done this? Also, will this negatively affect your credit score? I would think the lender would rather lower your principle balance than face foreclosure. |
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Dale H
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HR3221 introduces a special FHA program which is based on reducing the principal balance it a maximum of 90% of the current appraised value.
I believe that the law goes in to has an effective date of 10/1/08 so the program may not be available, but if you may be upside down you might want to contact your servicer to see what they know about it.
Of course, lenders do not want to reduce the balance, but it could be preferable to a foreclosure. First, they prefer to do a rate reduction, then a term extension and the last resort would be a principal reduction.
You may also want to get in touch with http://www.hopenow.com if you are at risk of foreclosure.
Good luck. |
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jake.jakebson
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sure they can lower ur principle balance with the cash you give them |
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Dan P
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Our company has gotten 2nd mtg's removed, principal balance reductions and lower rates. The only way to get this done is if your lender or broker did something that was contrary to the guidelines set by the Dept of Banking and Financial services. For example: I have a client who was looking to refinance and didnt qualify, the lender asked if there was anyone else that could go on the loan. The borrower doesnt know the law and told the lender that he had a son, his son went on the loan but the son had never been on title and is still not on the title to the home. This is a very big violation. Another client got into a property and after reviewing the documents, the broker made up assets, income, employment, etc... These are all violations and carry with them penalties and big lawsuits. So this is how you can get the bank to reduce your loan. If he only thing that happened to you was that you lost hours at work and are unable to make the payements because of that, then you have to either get a P/T job or let the property go. |
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Hiho
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I live in Australia where banks are notorious for making life as difficult as possible for struggling homeowners who want to switch to a more competitive interest rate. The exit penalties are phenomenal if you want to switch to a rival business (like thousands of dollars!).
In Oz, if you are struggling with your repayments, you can:
Switch all or part of your loan to an interest-only basis. While you're not repaying any of the capital on an interest-only loan, it is very good at cutting outgoings if you're repayments are too difficult to maintain. For example, $300,000 mortgage, discounted rate 8.27 per cent...switching to interest-only cuts repayments by $301 a month, from $2369 to $2068. This is a short-term emergency measure.
Extend your loan term - will mean a fortune in extra interest but it's another avenue to help with cash flow in the short-term.
Contact your lender and discuss your options. These may include asking for a "variation" on the contract to allow you to reschedule payments...pay a lower amount for a short period until you get back on top of your finances. |
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chatsplas
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NOPE, not gonna happen
You signed contract, you owe them
They MIGHT work with you and lower your interest rate, but not principal, and why should they? If you overextended yourself, if your house has declined in value, it's not through any actions of the lender, and WHY would they do it? |
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godged
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They will not lower your principal. They may work with you on a loan modification to keep you in your house. |
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MonaLisa Overdrive AM VT wannabe
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Never your principal balance... but you can work with them on the payment terms. |
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Danielle J
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you have to refinance |
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