 My landlord refuses to stop entering my apartment without my permission. I want him to stop.Any suggestions? |
He has entered on several occassions.
I have not caught him in the act. I have found several items moved around and I have seen him lurking around and staring in my window.
I put a screen ... |
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 How to get into a house with marginal credit but a good income? |
| I am married with a combined income of $125,000/yr. We filed a joint bankruptcy approximately 5 years ago. My wifes credit, while not extensive (3-4 Credit cards--nothing over 1,000 limit) is all ... |
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 Am I being awkward over viewings for my landlady to sell our flat? |
| As we are still tenants, I have said that I would prefer viewings whilst we are not at home. Specifically I have a real issue with after work viewings and saturday morning viewings, mainly because I ... |
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 Im buying a home, do i give my realtor a closing gift?? ? |
We are closing on our house this week and i need to know if we buy the realtor a closing gift (if we are the buyer) or does he buy us a gift... or both??
Please help. . thank ... |
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 I am moving out of my rental house in a week and i cant get ahold of my landlord. She seems to be avoiding me. |
| So my lease is up Oct 31 and she stopped by in May to tell me she was putting the house up for sale, so she could get a head start on selling it by the time i moved out since the market took about ... |
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 Carbon monoxide leak, what are my rights as a tenant? |
| Bought carbon monoxide monitor to take on holiday, plugged it in to check it was working before we travel and the alarm went crazy. We moved in February 10th and since then my children have had ... |
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 Can my landlord charge me for new carpeting in my old apartment if it wasn't new when I moved in? ? |
| When I moved in my apartment the carpet was in "ok" shape. It had a few burn marks in the front room, some snags and fray's along the seam lines in both bedrooms. I wrote down these ... |
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| The house title is in my husband's name? |
so that means that I don't own the place?? what happen if he dies??
Additional Details
the house was bought when we got married, but he is only in the title.I'm in MS.... |
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 Should we cut our losses and try to sell our house now? |
| We bought a house on the way down from the peak in our area, but the bubble was really bad here (Merced, CA). Some are forecasting that our house will lose 30% value over the next 2 years ($100,000 ... |
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 How is purchasing from builder different? |
| We found a house we love for $469,000. The most we can afford right now is $430,000. (thanks to equity in current home). The home was completed in 2/07, still owned by builder and vacant. It is not ... |
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 Debt settlement program & Mortgages....? |
| My husband and I have been in a debt settlement program for almost a year. We have enough money to settle all of our credit card debt but are told to stay in the program for awhile longer. Our rent ... |
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 Can you make a seller pay for repairs needed after the sell of a home? |
| The day after we closed we discovered the septic system did not work properly. We were told by the owner that there had never been any problems.... |
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 Rent arrears eviction notice |
| hi everyone i really need some help, i have arrived back home today from abroad for 3 month to find an eviction notice from the court for the possesion of my rented property, i have checked my bank ... |
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 Inexpensive, nice places to live in US? |
| Hi, I'm looking for an inexpensive smaller town to move to in the US. I don't need to live on a coast, and don't need nightlife. My husband and I work from home so employment isn'... |
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 House or aparment? |
| i'm 18 and am seriously thinking about moving in with my boyfriend in the near future. we both have jobs and are going to school but he wants to buy a house and fix it up, then re sell it...i ... |
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 Tenant changed locks.? |
| I can't seem to find this info on the internet. We are new landlords and it has come to our attention that our tenant changed the locks on our rental property. Is this legal? If not what do I ... |
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ChicagoGuy | Good Credit, Have Debt...Can i get a Mortgage? |
By year's end I will have about 15k in credit card debt. I currently make between 45k-50k and am looking to get a condo under 150k with around 10k down and I am a first time home buyer. I have a very solid credit score between 700-720. What would be the best way for me to go about getting a mortgage? Would it even be possible for me to get one? Could I possibly wrap the debt into my mortgage? Please let me know if more information needed. Thanks |
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Justin
 |
If you make 45-50K per year, and break it down to monthly gross, you come up with about $3750-$4200. Most lenders allow you to carry a total debt load of 50% of your income (debt-to-income ratio) which would account for any payment listed on your credit report such as credit card debt, car payments, or any other installment or revolving debt and the proposed house payment with any property taxes, homeowners insurance, and any association dues if applicable included. So let's say you pay out $2K a month on car payments, credit cards, student loans, etc. then you could afford a total house payment of $1700 to $2000 per month on paper. It is truly up to you to decide if the new house payment is something that you will be able to make month in and month out, but I think $150,000 is a reasonable purchase based on your financial picture.
If you put $10K down on a $150,000 home, it is less than 7% down, which would'nt make much sense to tie into the loan transaction, since you would be over the 80% loan-to-value mark which would in-turn cause you to need PMI insurance no matter what. I would recommend you to use that money to pay off only the credit card debt which have the highest rates, and keep the rest in a rainy day fund. You definitely don't want to go into this thing house-broke, and the lower credit card balances will in-turn lower your monthly payments which will help with your approval process. Any more questions feel free to email me. Good luck! |
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Gregorio
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Loose change gave you terrible "advice."
Rolling 40K into a mortgage makes no sense, yet people often make this foolish mistake. Let's break it down.
40k at 5.25% over a 30 year term will cost you $79,517.33
When you go to refinance after 5 years you will still owe $36,859.80 on your 40K, after 10 years you will owe $32,779.31. You better hope your home appreciates enough to support this kind of load because you will be upside down for decades.
It will take you a solid 15 years before even $100/month of your mortgage payment is applied toward principle of that 40K. ($100.23) to be exact at year 15) Not to mention that if you fall behind on your 40k debt, unsecured to your house, you just go to collections, if you fall behind now the Sherrif comes with a padlock.
If you paid off the 40K in 10 years at 16% you would pay $18,363.34 in interest vs $39,517.33 if you rolled it into your mortgage.
My advice, don't do a thing regarding your credit or finances, it's fine as is. Apply for a home loan and you will easily qualify for a 150K home with 10k down with your FICO. After you close, open one of those credit cards that they keep offering you with a 0% APR until 2008 and transfer your balance. After the initial period make sure the rate is reasonable. If you are really motivated and committed you can transfer the balance again to another 0% teaser rate card. If you are like me you probably get enough of them in the mail to reconstruct a tree.
Free tip of the day.
If you are tired of getting those pre-screened offers you can opt out of them here https://www.optoutprescreen.com/?rf=t
It may even give your FICO score a temporary boost, so if you're applying for a mortgage and need a few points to get your rate this sometimes works. |
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godged
|
Gregg is absolutely correct.
So many people get wrapped up in the allure of turning their CC debt or other unsecured debt into something they can write off on their taxes and have the slate clean. However, they don't realize how much this is costing them in the long run.
Work on paying down your CC debt. You should have no problem obtaining a mortgage with the finances as they are now. |
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lenderjayne
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Being a first time homebuyer, depending where you live, there may be a program that provides below market rates and help with down payment and closing costs. Sellers can also help you with your closing costs. You would be better off using the $10,000 to pay down your credit cards.
When you're purchasing a home, you cannot wrap any debts into the loan. People usually do this when they refinance their loan or do a line of credit and pull cash out of their home. This is only an option when you have the equity.
Your first step right now would be to meet with a mortgage consultant to see what your options are and price range you qualify for. Don't just call a company and ask for the best rate. When you call a company ask them what type of programs they have for first time homebuyers. Check with a large mortgage company and a broker. Sometimes banks do not have the same programs as banker/brokers.
I hope this helps.
CA Lender |
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April W
|
If you have $10K down and you owe $15k in credit card debt, it's probably actually better to use the $10K towards your credit card debt. You'll get a much lower interest rate on a house than you will on a credit card, unless you're switching every year and using the 0% finance charge for one whole year. . . I'd see a credit counselor at a non-profit organization for info. on debt consolidation and for which route to take.
http://www.christianet.com/debtrelief/nonprofitorganizations.htm
It sounds like you probably would be able to get a mortgage without any problems. (I did and my credit score was lower than yours and I had $3K down.) |
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Loose Change™¢
 |
You can always get a mortage if you have a steady job. It is the RATE at which you can get it at that is the key. Yes, you can wrap your debt into the mortgage. My wife and I wrapped $40,000 of debt into the mortgage at 5.25% annual interest rate. So that $40,000 debt we were paying 16% on we now pay 5.25% on it (along with the rest of the mortgage, of course).
A condo under $150K should be no problem. They might want a little more than $10K down, though. Maybe more like $15K or $30K down. |
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Blue October
 |
probalby no wrap the debt into the mortgage.
the real estate field is in a recession and continuing to decline due to many forclosures.
bank will access your debt to income ratio.
good luck |
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shanaynay j
 |
well, if you have that good of credit, then u probably can get just about anything.
under 150k... this might be tough depending on where you live.
i just bought a house: here is my mortgage guy- if you have questions he will be able to answer
jwright@metrocitiesmtg.com |
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