 Why are foreclosures homes so cheap? |
| What's the catch is it really that cheap? How can I go about buying one? Do regular realty companies help? I see some houses listed at like 20,000 for a 3 bed 2 bath home... Is it for real? Any ... |
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 What would you do if someone wants to look at your house for sale, but you are listed with a Realtor? |
| I had a person come to our door the other day, wanting to just look at our house. I told him that he must see our Realtor and make an appointment to see it. He insisted that he didn't have ... |
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 What exactly is the purpose of building equity in your home? |
i.e - staying in a house for a longer period (10+ years) vs a shorter time (2-5 years) ???
what does equity do for you? why do people say its good to build up your equity?... |
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 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 ... |
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 Can my fiance sell our house without my consent if my name in on the deed but not on the mortgage? |
| My fiance is cheating & he & I are splitting and he told me I have to get out with my kids. My name is on the deed but it is not on the mortgage. Can he sell the house without my consent?... |
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 In real estate does Staging a house really hellp it sell? |
I have heard of staging homes for sale and was thinking of getting into the business. But does it really work?
Additional Details
Is there a way to get into the Staging business ... |
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 Can anyone help me out with 700 quid to pay my rent? I have a little boy and broke my arm!!? |
| I broke my arm last xmas and haven't worked for 6 months,the housing are threatening to kick us out... HELP!!!!!!... |
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 1st day in a new apartment.. Next door neighbor complained.? |
Today was Day 1 at my new apartment. I decided to bring blankets and sleep there for the first night.
I got there around 11pm, put my blankets on the floor and lied down.
At 12am my ... |
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 About to buy a home! But a few ODD questions.? |
First off let me show you the home.
http://www.realtor.ca/pr
It is a small 2 bedroom home, On a nice quiet street- I have been communicating with Edward ... |
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 Ok my brother wants to buy a foreclosure house but get this hes 16years old? |
any i was wonder if its even possible for him to buy a foreclosure house it kinda peaked my curiosity
Additional Details
and i heard that its possible if he has like our parents to co ... |
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 Bottom Line: Do Real Estate Agents Deserve 6-7% of a person's net worth? |
In short, for working 12-40 hours, do they deserve the equivalent take-home pay of almost a year of labor??? (assuming most people have a 30 year mortgage and pay about half to it each month...)
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 My rent is due the first day of the month..? |
| and the first day of this month was a saturday and the office was closed. I could not get to their drop box to drop it off either. I don't think I can get it to them til tuesday the 4th since ... |
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| Is 5% too high to pay a real estate agent? |
| I live in Pleasanton CA, and have recently been informed by a friend that my agent is robbing us, by charging 5%. Is this true? What is a good percentage? And does anyone have any tips on ... |
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 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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house_head01 | Do you think that mortgage lenders will try to cheat first time home buyers? |
I don't remember calculus very well so I cannot substantiate the logic of interest rates and whether I might overpay my loan and sign off more than is necessary. Does this happen in the real life? Are others also wary as well? Thanks. |
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ed
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One does not need calculus to understand interest rates.
Printed amortizations are easily obtained. Legitimate mortgage companies are not in the habit of "cheating". The word cheating has the connotation of illegal actions.
As for interest rates, they have always been and will be based on the risk of lending money.
One who lends money expects a return, in the form of interest.
Those with low credit scores are always considered "high risk" for any loans. The lender undertakes that risk by charging a higher rate of interest, with the knowledge that the loan may suffer default. Even with this knowledge, the lender feels that with a higher interest rate, any loss will be cushioned by that increased rate. Since a home is a tangible asset, lenders are willing to "gamble" on the loan. This is done in more cases when the investors have more available cash to invest and when housing is enjoying an increase in values.
In today's market, housing values are on the decline in most areas of the country. These "high risk" loans may also suffer a decline. With increased down payments, they will be available.
Whatever ones credit score, shopping for interest rates is like shopping for a pair of shoes. Competition! If a store is overstocked or can operate with a lower overhead, the price is lower.
If one lender has more available cash than another, they may offer a lower rate. Better than idle cash sitting somwhere. |
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toolman4ya
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Know who your dealing with. It's helpful to know if your lender is a broker that is going to shop your deal around the country or an in-house funder. The total deal is usually better with the in-house lender as a whole level of people profiting from your deal is done away with.
Always, Always, Always ask for a "good faith estimate" which is a form that discloses the fees you will be charged. Make sure it matches what your charged at closing. It will cover things like the cost of appraisal, funding fees, escrow fees, etc... The greatest deal on interest rates can be the worst deal in town once they have jacked up the fees. Compare your deal with different lenders by their good faith estimates to find the best deal. |
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curmudgeon
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It is a good idea to approach any company you deal with as if they might want to cheat you. You don't need calculus. There are mortgage calculators on the Internet. Just check your figures there. |
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mortgage_info_4u
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You should be protected by your state's preditory lending laws. Just do your research first and always get a referal when working in finance. If you would like more info let me know. |
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Darren Meade
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Hello -
It sounds as though you're worried about who truly has the lowest rate on a loan? Here's a free report which covers the following:
- The “Dark Secret” many lenders don’t want you to know
- How to avoid getting scammed
- How you can guarantee the lowest bottom-line cost or make $100 in the process.
And when you finally apply for the loan, you worry that you find out that the rate you were quoted “doesn’t apply to you”, or that it was a “special promotion” that is now over.Every lender in town claims they have the lowest rates. But with thousands of lenders to choose from, who should you believe? In this report, you’ll learn the secret of how to spot the best deals. Simply click here to get your free report - http://www.freerealestatesecretssoutherncalifornia.com/lowest_rates.aspx
If you're about to purchase your first home, let us be the first to congratulate you! You've made a great decision.
But before you begin that home buying journey, we want to educate and inform you. That's why we have put together this NO-COST report, entitled 'First-Time Home Buyer Secrets Revealed'.
In this report, you will discover how easy it really is to become a homeowner and finally own a piece of the 'American Dream'. Sit back, relax and enjoy this NO-COST Report.
http://www.freerealestatesecretssoutherncalifornia.com/buyer_secrets.aspx
Please let me know if you might have any other questions.
Best Regards, |
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fish2441
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you can go to the company and they will (or should) fully explain everything. they want your business like anyother company. so i dont think they would screw you over, especially a reputable mortgage company. just ask the company to help you out because i bet that most people just assume they wont screw them over and are too afraid to ask. |
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hiddenhotty
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Last 2 answers basically cover it. My version is this - most mortgage companies are not cheating you. But they are in business to make money and are going to capitalize on that any way they can, legally of course. So you the consumer need to be informed in order to get the best deal. That means research and shopping around for the best deal. Ask the realtor and attorney (if you're using one) if the mortgage sounds reasonable. Just keep in mind that realtors and othe rprofessionals may have a stake in keeping you with their mortgage company of choice. The good faith estimate is a good idea, but in reality that is NOT what interest rate you may get. If you get a good quote, lock it in early and THEN don't sign on the dotted line if it's different at closing - that has been known to happen. |
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Searchlight Crusade
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The problem is not cheating on payment required. That's just math, and any financial calculator and many websites will do the math for you. Don't use car sites, though, as they're programmed with a different assumption. Student loan sites should be fine, though.
The problem is that if you don't sign up, prospective loan providers don't have a loan and don't make money. So they will tell you anything to get you to sign up, ranging from irrelevancies to low-balling actual rate and cost of the loan, to nightmare loans such as the negative amortization (under all it's friendly sounding names). At sign up, you have all the power. But at funding, they have all the power, and if you want the loan and the house, you'll have to sign whatever they put in front of you. Here is a group of questions to ask
http://www.searchlightcrusade.net/posts/1124287216.shtml
Then find a backup loan provider as well. If you have two loans ready to go, then neither one of them has nearly so much power to make you sign documents for a bad loan. |
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Tom Cat
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Money is just an exchange. The terms and conditions - except those not regulated e.g. loan sharks - are governed by the nations monetary governing bodies. Any "cheating" going are either deliberate e.g someone pulling a fast one over you or oversights. Either case it is always prudent before you agree to the rules required by the regulatory bodies e.g signing the legal documents, to go over the documents thoroughly or if the sum involved is substantial, to have your lawyers go over it. |
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President, www.HSAInside.com
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I have never understood why anyone would use a mortgage lender, just go directly to the bank. |
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David D
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Gen up on Mortgages here. |
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