 Whats the fastest way/best way to sell my house quick.? |
| Ilive in the albany,ny area------I need to sell asap.... |
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 House Flippers? |
Do house flippers have to pay a penalty tax or fee for reselling the house so soon, as opposed to waiting for, say two years?
Additional Details
What if I only got a six month loan as ... |
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 I have 34 days to come up with $7,500.00. Any ideas??? |
| I am looking for serious answers only. Yes, I do work, but this money need to come from additional sources. It is the closing costs i need for a new home i just purchased in PA. I can't apply ... |
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 If, when I move into a rental property, I pay a months rent in advance and a months rent for the deposit...? |
| does that mean that if I move out in October, I stop paying rent in September or should I get two months rent as my deposit when I leave?... |
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 How come most apartments have carpets? |
| Why not hardwood floors or laminated floors? Isn't it easier to clean and would look much nicer? What's your two cents in this?... |
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 I can't sell my condo and am thinking about walking away from it? What happens to my built-up equity? |
| My condo has been on the market for nearly a year and I can't sell it because of the sub-prime problems. I've listed it for 25K less than I bought it for and still no takers. I'm at ... |
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 FORECLOSURE: When do i have to vacate my house.? |
| I received a notice of trustee's sale saying that on 11/12/08 my house is going to be put in auction sale. I don't understand if i have to be out of the house by this day. Some people say ... |
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 My Girlfriends Ex-Husband of 12 Years Tricked Her Into Signing A Home Equity Loan. Can She Get Off? |
| She divorced him 12 years ago. 3 years after the divorce he refinanced the mortgage and took her name off. He never removed her name from the property deed. 4 years after the divorce he got a home ... |
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 When a rental lease expires how much notice does the landlord have to give you to move out.? |
| I have rented this house for the past 1.5 years and the lease ends the end of October. I had no intention of moving and then today Oct 27th I receive a letter from my landlord informing me that he is ... |
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 If one paid rent on June 1, but stayed for the entire month of June responsible for paying that months rent? |
| One party claims that they do not have to pay the rent because they paid in full on June 1st, yet they stayed the entire month of June and into July. My question is. Are they still responsible for ... |
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 Over my head in my mortgage what to do??? |
| I am at 100% LTV on my home. I cannot make the payment and live in California. I dont want to lose my home, but I dont have enough money coming in to make it. I refi'd my house, because I ... |
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 How do i find out who ownes a vancant home in my neighborhood? |
| i have the address 11411 146th st ct kpn gig harbor wa 98329... |
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 We are closing on a home on the 27th but so far the seller has not completed items in contract.? |
| We were originally to close on the 22nd but the appraisal got delayed so we had to reschedule closing. One of the conditions in the contract was that seller would complete repairs to front yard from ... |
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 Is there any hope for people who WANT a house and are ABLE to pay a mortgage? |
| With all the BS going on with the banks and such....what does someone do who really wants to buy a house right now and are financially able to pay a reasonable mortgage within their budget? Is there N... |
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 Does landlord need to sign lease? |
| Is my lease legal if my landlord has not signed it? Do both parties have to sign the lease for it to become legal or just the tenants? I know people will say well if you want to move out the landlord ... |
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 Help i currently am lock into a 30 year moragage at 10%? the loan is on a mobile home through green tree? |
| the orginal amount fin. was 38,000 it is for a mobile home my wife signed the contract before we met. our monthly payments are only 325 but at 10% we pay over 3,000 a year in interest alone and only ... |
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| Hello: My wife has a property management company. When she recommends workers to the landlord for repairs? |
| should she get a percentage for that. Should she communicate with the landlord about this mater. In other words is it ethical? Could it be a conflict of interest here with the landlord. P. S. I am ... |
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Sanjeev K | Does it make sense to buy a house full cash down? |
I am a new immigrant to US and I have about $400k which I'd like to use to buy a small single family home. I have a stable job and no debts. Thinking why should I pay mortgage and run the risk of foreclosure in case something happens to me in future, I decided to buy it on full cash payment without taking out a loan.
* Is it a good decision or is it better to take out a loan?
* What are the steps in a full cash deal? |
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Ken
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As with any financial decision, you have to weigh all of the pros and cons. With a free and clear house, you will have peace of mind. You should determine how much you can earn on the money you have if you do not put it all into your house. Factor in the tax savings that you receive for paying interest and then decide which is best for you. Also, since you are new to the US, building credit may be a big plus. I would suggest putting 50-75% and taking out a mortgage that is affordable to you. Keep the rest invested and you will never face foreclosure because you will have the cash on hand to pay the mortgage at any time.
Good luck. |
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Kenneth H
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YES! If you can pay off purchase of your home then do so. You will have immediate equity and save thousands of dollars in interest. Don't worry about the "it's good for your credit to have a mortgage" as I believe that's lenders BS to get you to finance. Also, don't get stuck in believing the "tax break" benefits either...you'll pay LOTS more in interest than you'll get back in tax refunds! You save money by paying cash as your savings account my pay 4% or so, but mortgage can be 6% or more so you make 2% on your money! Plus, don't forget the equity!
When you go to closeing just tell them you are paying cash...no mortgage. Closing will also go faster as there is no bank involved. |
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Nicky T
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If you have the full amount to put down on a house, then do so. There's no point in wasting any of your money on interest and charges etc, then you'll be able to live mortgage free and not lining anyone else's pockets. The house will be all yours and will appreciate in value. There is no better investment than property. If you can, save some money in a high deposit savings account or other investment as well. You're so lucky! |
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jimmy dean
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welcome to the U.S.!
Yes it is a great idea. Not only will you be getting the normal appreciation that comes with real estate, but you will also be saving tons of money in interest. Take the money you would have used for monthly payments and invest. |
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seafood10
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yes i agree witht he kenneth guy saying about all these dummies that said interest are 100% tax deductibles and taking out loan to build credits.
first...u will end up still paying interest no matter what...if not alot, but still some. u cant avoid interest.
let me give u an example...federal deduction for an individual single is $8,400 and ny state is $7,500 in 2007. now if u were to take out a mortgage and let's say the interest add up to about $9000 for the year. you can then use the interest of $9000 as ur line deduction since it is higher than the standard deduction for federal or state. u then subtract $9000 from $8400 and $7500...that is about $600 and $1500 of difference. then when u look at the tax book to compute ur taxes..u only end up saving a couple of hundred dollars when u end up paying about $9000 of interests! and also if u dont borrow enoug money like my about example..u wont be using the line deduction and end up using the standard deduction since standard deduction is higher.
so dont listen to all these dummies, yeah go ahead and borrow as much as u can. when u pay in full...at least u wont end up forclosing ur home like the rest of these dummies here..i guarantee u that.
and also about mutual fund...it is hard to get 8% year in and year out consistantly. plus u would also hit with capital gain with at least 20% plus mutual fund fees. so i highly doubt u can make at least 8% year in and year out.
btw: if any1 gives me a down thumb probably are lenders and idiots that can't pay their monthly mortgage and is about to forclose. dont buy the hype..dont take out mortgage if u can pay in full. they are mad cuz they know im right. |
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Alterfemego
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There could be tax benefits for you if you take out a mortgage. To purchase a house for cash, you need to prove where the money came from, and provide a cashier's check at closing.
Good Luck! |
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Blicka
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My opinion, no, you shouldn't pay 100% down.
The average interest rate for a mortgage is ~6.5%. The interest that you pay is tax deductible.
Investing in a conservative mutual fund would yeild you earn ~8% (or more) so in terms of taxes and future earnings potential, purchasing the home cash down isn't the best decision with your dollars.
That being said, living debt free is a pretty good feeling so do whatever you think is best :)
Good Luck! |
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Cowgirl seahorse rider
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Maybe, but do you need to build a little credit here? If so I would put a chunk down have small payments while building my credit. |
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