 Should I buy an investment property now or later? |
| I am located in Northern VA. I have 700 credit score. I want to buy a house and then put it on rent. Should I wait for the prices to go down more or no?... |
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 Paying my rent late because of the holidays? |
| We just moved into a new house 2 mths ago and since it is the holidays would rather pay my rent on Jan 3rd instead of the 1st. I do have the money, but it would make it slightly easier to pay it on ... |
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 Can a Landlord evict you without notice prior to your "intent to vacate" and then claim damages? |
| We had filed a 30-day notice for an intent to vacate a premise, with an agreement on the remainder of the rent. some 5 days before the notice date we get a phone call from them saying "The ... |
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 What are good LEGAL reasons that can be given to a tenant if you decided NOT tor renew their lease? |
| Property is located in Chicago and wish not to renew lease of tenant. Rent is current. Previous issues with persons other than those listed on the lease residing in the apartment. Please Help!... |
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 Is this legal!!?? |
| I work at a real estate agency and a closing is going down. The old lady signing her name doesnt even know whats going on!! She is talking about she cant control her hands and is falling asleep. She ... |
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| If you own a piece of land, how far underground does it extend? |
Like if you were to build land in the city, they could probably put an underground railway through it without your knowlege or approval Im guessing.
Additional Details
I live in the UK, ... |
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 Is it better to buy a home from the owner or go through a realtor? |
| My husband and I are thinking about buying our first home. Is it better to go thru a realtor or if the home is in real good condition, just go through the owner? Also, if we were to go with getting ... |
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 First time buyers, nightmare?? |
| After looking into buying our first house found out repayments on a mortgage would be £750.00 a month on a average price house, so looks like going to stay renting... and maybe keep on renting to ... |
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 Can my Landlord charge me $1500.00 because the pipes burst, when I didnt have any heat.? |
| 2 weeks ago it was FREEZING here in Chicago. Can my landlord make me pay for the new pipes. I didnt have any heat and all the pipes froze. He says its my fault. Is that right what can I do??... |
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 Renting in CA, is a broken hot water heater considered uninhabitable? |
Hello, I’ve been renting from my landlord since 3/26/08. Our hot water heater broke on 4/4/08. when we called the landlord, she said to call PG&E.
I make an appointment for the ... |
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 House overrun by ants, landlord won't do anything? |
| I just went to visit a friend yesterday and her house is overrun by ants. Her landlord had just sprayed the outside last week, and now there are ants everywhere indoors. She told me that she had ... |
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 We offered $79,000 on a house listed for $89,900 last night. They came back today with a counter of $84,000.? |
| According to my research they bought the house 2 years ago for $50,000 and put maybe $3,000 in it. Please advise on counter offering process and hw much to counteroffer. Its in a desolate kind of ... |
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 Landlord will not repair stove - what steps should I take? |
| I have been living in my apartment now for 5 months of a 13 month lease. When I moved in - the stove was not operating correctly (the stove literally burns everything - there is something messed up ... |
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 Can a property be put in several names (UK)? |
| Can a property be put in as many as five names, meaning they are all part owners of the property?... |
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 Offer on house if it's accepted.... please read on? |
| Hi im viewing a house today, judging by the pics, size and area i am very interested and i am looking at putting an offer in. (Might change my mind when i see it thought lol) If the offer is accepted ... |
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 Can anyone tell me anything about mortgages ? |
we are thinking about buying for the first time but have no idea thow to go about it and dont want to get ripped off we earn £4380.00 a month and would need a 3 or 4 bedroomed in sheffield uk
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Liz C | Getting FHA loan for 4unit. I'll need to occupy 1unit. What happens to that mortgage once I buy a home? |
I will be purchasing a 4 unit building using residential financing so I'll need to occupy one of the units in order to qualify for this type of loan. I would like to purchase a single home in the next year and wanted to know how that would affect my loan of the 4 unit since I will have to move out of there. |
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loanmasterone
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By you moving from the 4 units your mortgage will not be affected in any way what so ever. You need not do anything like refinance or even let your the mortgage lender know that you are moving.
If you are trying to accumulate wealth then I suggest you do this more than once or twice before purchasing your single family home.
When you attempt to purchase a single family home the mortgages will affect your ratio which is a number used by the mortgage industry to determine if you have enough money to handle the necessities of life, after the mortgage is paid.
That is the reason I suggest that you do this type transaction a few times. This time will allow your mortgage to mature and the units to appreciate.
Also by that time your rent should be able to cover the mortgage and you should have money remaining after paying the mortgage. Also you will be able to save and have money in your bank account to handle any emergencies that might come up to include 3-6 months of monthly mortgage payments.
These things will make your application for a loan package look better to a lender.
There is really no time frame set up for a person to stay in a home for any length of time to satisfy a mortgage requirement.
When you sign your loan docs for the loan there will be a document there that says you intend to make this place your permanent resident.
If you stay there only 2-3 months without a good excuse to move such as a job transfer, attending a close ill family member then there is a good chance that you intended to commit fraud.
But if you stayed there for in excess of a year and then purchased another place of residence I doubt if anyone will say anything to you at all.
Now to be very honest with you, no matter how long or short you stay there lender do not have anyone that knock on doors to see who reside there.
Also there might be a limit on the number of FHA loans you might apply and qualify for.
I hope this has been of some use to you, good luck.
"FIGHT ON"
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visitor
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You have to stay for one year in the owner occupied unit. If that is your intent you should have no problem at all. I can assist you with the loan if you would like and answer any questions you might have. Contact me. |
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Raceangel
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hire a management company to oversee the units, since the new single home will be your primary residence, and i believe that as long as yu lived there for a year that the mortage will not be effected. |
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golferwhoworks
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you will need to notify the lender you are making it totally investment property |
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