 Based on our income what would be an affordable home price? |
| My fiance makes about 95,000 a year and i make about 85,000 a year. what is an affordable home price? we are both 27 years old and still have time for raises and advancements in our careers. We live ... |
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 As a tenant, what can I tell prospective buyers? |
I have a question for those 'in the know' here.
Our landlords have been pretty deceitful about the house. They lured me in with promises to update and fix things but never did ... |
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 Is there anything i can do about my neighbors guitar noise in my apartment?complex? |
| theres not a certain time of the day or an exact day of the week that he does it, but it's annoying as hell. the floor shakes and you you feel the vibrations when you're trying to watch a ... |
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 Are you sheltered from the mortgage crisis? |
| because you are lucky or becasue you have a 3 suitcases full of product in your closet?... |
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 Where is a good place to move? Why? |
| I would like to move somewhere that the cost of living is affordable, housing is reasonable, good school systems, wages with an B.A. degree or higher pays well, crime rate is not high, and a great ... |
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 Buying 1st home, 30 yr. fixed,10 yr interest only loan? ADVICE? |
| I have applied for a loan of 160,000.00. Approved for 30 year fixed @ 6.75%, 10 yr interest only + (including taxes, insurance, haz-insurance). I am pleased about the payment. What do you think about ... |
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 Being evicted? |
| This month has been hard on our family. We ended up paying rent very late. (just on sat) But we paid it in full and late fees included. This was the only time this has happened. The landlord came ... |
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 ADVISE PLEASE!!! Should I stay in the house I am in, or should I move? PLEASE READ BELOW? |
| I am currently renting a home, my landlords decided to put the house on the market and do a short sale. After an open house and 3 other showings, the real estate agent said that she received ... |
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 My parents want to buy a home under my name. What should I do? |
| I'm 22 with pretty good credit and a good paying job. My parents have never owned their own home but now that they're more successful business wise, they're up for it. They both have ... |
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 Is it possible to buy an island for about $2 million? |
| i herrd that leonardo de caprio bought an island for 1.2 millon and i was wondring is it tru becaue i have about 2 million saved and i would love to buy an island where can i get the info?... |
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 Can my landlord require me to do this? |
| My lease ends at the end of this month, and my landlord is sending me 'requirements' to move out. One of them is show her proof of final payment for utilities (in my name). I don't ... |
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 How do I make a nonpaying tenant leave my house? |
| My tenant has left her old mother alone at my house 2 days before the end of the lease saying that her mother would leave on the last day and return the house, But the mother refused to leave and ... |
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 Lease ends 6th of October. Should landlord have to prorate me if I want out by 6th? |
| I live in Washington state. I am on a 6 month lease and was wondering if I have to pay in full for my last months rent. I want to give them 30 days notice by the 6th of September. Are they required ... |
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 Can my landlord sue me when there was no verbal or contractual agreement of rent? |
| I recently rented the lower level of a home. The place turned out to have more problems and issues than I cared to deal with. I never agreed to a specific amount of time that I would stay or what ... |
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 After ice storm, tree fell on my car. Will my landlord be liable for the damage? |
| I rent a house. There is a pine tree that has been dying since before I moved in on the property. Two weeks ago we had a winter storm - freezing rain, below zero temps, wind gusts 30-40 mph. Well, ... |
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 Can I make it with a room mate? |
| Ok so I want to move out when I turn 19 and when I go on to this school I'm transferring to. The apartments around there are probably around $300 - $400 and I want to know if I can make it with ... |
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 Know any mortgage companies that will do 100% financing with fico scores of 561 and 624 respectively? |
| my hubby and i make around 95,000 a year and we only have a car payment and a payment on land that we bought last year. we are working hard to pay off all our debts, we sold our last house a year ago ... |
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sally | Do I allow my home to go into foreclosure or sell it and rent it back? |
My husband and I bought our home 3 years ago. We were healthy and working, just moved back from a different state to be with our new grandbabies. We took out an ARM loan on the property because it needed work and we were going to refinance it in 6 months to a fixed rate.
Five months after we bought the house, my husband had a heart attack and is now diagnosed with end stage heart disease. I am working three jobs to keep up, but our ARM took us up $200 in October and $200 more coming in February. The bank refuses to consider re-doing the loan. Do I allow it to go to foreclosure, keep working myself to death, sell it and rent it back, or just buy a big refrigerator box and run away? Obviously a move right now would be bad for my husband and the medical bills have torn up our credit. Any ideas? |
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mz313
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If it going to continue to adjust, then you can't afford to keep it. If it goes into foreclosure, do you have another place to live? Those are the things you should think about before making a decision. Good Luck. |
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Christiane
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I am so sorry for your troubles. Whatever you can do to avoid foreclosure should be explored. It is always best to try to work something out with your existing lender. Try calling them again and review your situation with another person. They really do not want your house to go into foreclosure and it is lengthy and expensive project for them. If that does not work, perhaps one of these might help:
•Homeownership Preservation Foundation: 1-888-995-HOPE
•HUD Approved Counseling Agencies: 1-800-569-4287
•For FHA Loans: 1-800-877-8339
•For VA Loans: 1-800-827-1000
•For Victims of Predatory Lending: 1-800-348-3931
Credit counseling #
To find a legitimate counselor, contact the National Foundation for Credit Counseling, at www.nfcc.org or call 1-800-388-2227
Another option would be to sell your home. Call the people at HouseBuyerNetwork.com to see if they have an affiliate in your area.
Good Luck! |
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Searchlight Crusade
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Okay, you've covered that the you did the smart first step and called the lender. Unfortunately, they're not going to help you, and the cold hard fact is that you're unlikely to be able to refinance into something more affordable with your credit being hit like that.
At this point, it has been established that you're going to lose the property. The only question is how.
1) You can do nothing, keep working like a slave, and lose the property to foreclosure anyway. This will trash your credit for years, and you'll likely have a major deficiency judgment to deal with. (Adding bankruptcy to this only makes the situation worse).
2) You can ask your lender about deed in lieu of foreclosure, and whether they'll accept it. This is still a major ding, but it stops the damage now.
3) You can do what it takes to sell the property before it forecloses. Even as a short sale, this still tends to be better as far as long term consequences go. Depending upon your situation, you may even walk away with some cash.
FYI, there is an increasingly common scam going on with selling the property and renting it back with the intention of repurchasing it. Here's an article on that:
http://www.danmelson.com/2007/10/the_well_keep_you_in_your_prop.html
You are likely to get a better price and a quicker sale on the property if you remove any thoughts having to do with renting that property in particular back. This is a constraint that's likely to scare away the vast majority of potential buyers, and those who are left are not the people who will pay the best price, to say the least. If the person who buys it wants to rent it back, fine, but don't make that a hurdle they have to get over in order to buy it. Even if you don't get any cash yourself, the lender is going to hit you with a 1099 love note for whatever they end up short, which is taxable income. You'd rather that was for a smaller amount than larger, believe me.
Consult appropriate advisors licensed in your state for all the gory details. |
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janice h
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Do not go into foreclosure. You will end up with nothing and no where to live. Find a buyer. If you are in or near a metro area this will be pretty easy as people advertise that they will buy homes with a quick closing. This is made for people like you. Be careful as they will try to underpay you. You need enough to payoff the mortgage and get you out from under that mess. Depending on the buyer you may be able to rent the home back from them, but this will depend on the buyer. A move may be bad for your husband but it may be inevitable. Contact your local senior center or city government they may be able to put you in contact with people who can help you get situated and maybe even help you cut down to 2 jobs. Also, you need to talk to your children and tell them how bad things are. They may have ideas that would help you and you may need their help to move or to take care of your husband. You do not need to handle this alone. Take care and God Bless. |
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foreclosurefish_com
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It's simply no good to try to keep a home that you know will be a struggle to make the payments on time with. So, if you do not have enough money to make the payments, the next financial hardship will put you right into foreclosure, whether you make it through a few extra months or not.
Some ideas might be selling the house at a short sale, refinancing with another lender, or giving the bank the property back with a deed in lieu of foreclosure. But you have to evaluate which options are best and apply to your situation, and possibly sit down with an attorney or someone who knows what they're talking about. |
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man_marathon
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sell it and rent it |
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jtm7332
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There is actually a program that Bush came out with to help people just like you. The program is called FHA Secure. I also deal with people who can do short sales with the bank and other things that could help you.
If you would like to shoot me an email please do:
jessemccrady@fcmortgage.com |
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tia_dre3
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A sale and lease back would be your best choice. A foreclosure on your credit would be disastrous! Although, your bank may work with you if you tell them that you may have to foreclose on your home. |
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Marysue
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Before you make any decisions, call your loan owner and explain the situation. They may be willing to work with you to avoid the hassle & expense of foreclosure. |
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Akbar B
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Call your bank and ask for the retention department or speak to someone in charge and explain your situation and they will work with you. Banks hate to go into foreclosure as they pay their lawyers more than it costs them to work with you and reduce your payments. Try this method and insist on speaking to someone in charge. Good luck. |
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Rain
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First you could do a chapter 13. or 7. think about it. don't go through any credit ppl that claim were put it all in one bill. on your credit report, it will show bankruptcy anyways! go figure. Here is what you need to do! 700 to 900 dollars for an Attorney. Wipe it all away! you can do this every 8 years. People think Oh I can't do this! My reputation, hey it either lie the way you are right now Or get rid of all the problems. why do you think the rich keep getting richer. and in no time your be able to have credit cards again. try to stay away from those thing. good luck! |
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