 I need help purchasing our first home...but don't want to get in over my head...? |
| I live in southern california. I am looking to puchase a home but dont want to spend more than 300,000 with a 6% interest. Last year my husband and I made 60,000, but this year i expect to make ... |
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 How can I get rid off my roommate without getting lawsuit? |
| I just bought a house and I decided to rented out one bedroom to a 40 years old female. She does not pay rent on time and she is making excuses like " I'll pay you the next week" "... |
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 Will california house prices ever go back to cheap? |
| i was wondering because i moved out of state, and really want to go back. but im afraid of taking my whole life to pay off a home. compared to other states with cheap ... |
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 Help for mortgage, independent financial advisor and putting in an offer on a house.? |
I went to 3 banks for mortgage quotes, halifax, hsbc and alliance & leicester. Halifax could borrow me the most money, then hsbc, and then alliance & leicester.
I then looked around for ... |
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 Can we afford it or should we just wait? |
| my family wants to buy a house that is around $699,900. we dont have the 20% down payment needed, so we are just waiting to see if we can come up with some money. we pay $15,000 a year for middle ... |
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| My apartment pool has been down for over 6 MONTHS, how can I make them fix it?!? |
| Part of the rents I pay were to have a working pool, and this is in sunny Florida where it gets really hot. The pool has been down since last year and they keep promising it will be fixed soon, but ... |
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 Can I have some advice? |
| I asked a previous question, where in the US in the best place to live? I want a homey place, and where I can enjoy all season's. I'm in love with nature and I want somewhere I can enjoy ... |
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 Is 4% fixed a good deal for a home loan? |
| I got approved for a home loan at http://www.get-a-home-lo with a 4% fixed rate loan. Is this a good deal over 30 years or should i go 15... |
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 As a landlord........... how much can I raise the rent???? |
I thank you all for your answers, please note that I am in South California Charging in a house for only $1,000.00 dollars per month.
I would like to raise it to $1,500.00
the area that the ... |
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 Someone help!!!!!!!? |
| I was trying to get my first home but everybody I've called for a home loan said my credit wasn't good enough to get a loan how can i get a home loan to go towards my first home with out ... |
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 Having trouble with our house sale ...please help!? |
| We're currently in the process of selling our house. We are now in week 6 since we accepted an offer on our house. The buyers (who are not in a chain) have had a homebuyers report done on our ... |
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 I have two houses, one about to go foreclosure? |
| I have two houses and im about to lose one because i cant pay it, will the bank add the balance to the one im currently paying? or what will happen? i know i need to get in touch with the bank, but ... |
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 Where do I post a message such as "looking for roommate in <Town and Area>? |
| I know I can post in the newspaper, but where else is good for posting in larger zones? or even smaller ones. Does Yahoo allow it?... |
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 Is it better to pay down my current mortgage and refinance or refinance and use the money for downpayment? |
| I have inherited some money and I want to use it to pay down the debt on my house and to make the payments lower. Would it be better to pay the mortgage down $100K and then refinance the $75K balance ... |
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 How much money is TOO low for an offer on a house? |
| I mean is there a general rule for this? For example, is offerering $190,00 on a $220,000 home to low? The home needs some work (it's a cape and the 2 bedrooms upstairs need to be dormed, needs ... |
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 Why can't I find land to build a house on that isn't surrounded by trailers in central Alabama? |
| We built our last home in Odenville, Alabama 4 years ago. Now we want to build again, but everytime we find a piece of land (5 acres or larger), we find trailers all around it. What happened to ... |
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 What is a draft contract? |
| It will be 3 weeks next monday since we accepted an offer on our house. The couple who are buying it have yet to get a valuation report done let alone a survey organised. I rang up the estate agent ... |
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 Roomates in apartments? |
| ok, so im either moving to minnesota or North Dakota and I want to room with someone in a apartment. This sounds dumb, but someone was telling me if you look in the minnesota newspaper, people put it ... |
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KBS | How can first-time buyers buy a home in So Cal where the average cost is over $700,000? |
Our income is about $70,000 annually and we have no debt other than student loans. We have about $25,000 saved. In an area where an "okay" house will run you about $700,000 - how in the world will we ever be able to own? |
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Kevin H
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The situation there is grim but will get better as many of those option arms and neg am loans start defaulting. You might get very lucky and find a sweet deal somewhere as they do exist. You won't find such a deal in the mls but there are probate properties and other ways to get into an affordable house. California has a market that has grown beyond tangible measure and a correction is inevitable. The state attracts a lot of money due to its huge variety of attractions. There are however a large number of reasons for some to avoid a move to California also. As a first time buyer there are really no programs for jumbo loans that will help you much if at all. Sellers desperate for a sale with a large equity position might be able to carry a second. Some will as most of that equity was artificially created. If you can find such a seller you might have a chance but your income will also only qualify you so far loan wise on anything but a option arm. The loan guidelines for those loans will be tightened as they are as much a culprit as sub prime has been in the demise of many lenders. |
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bpl
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The only way to afford it is with a large combined income and a heck of a downpayment. Or buy a smaller "starter" home with the hopes of building some equity over the years and hope you don't get priced out of the market in several years. I don't believe in unconventional methods of financing because too many people get into trouble that way. |
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shasta559
 |
Try checking into Hud homes, Reo's, and forclosure sites. There are several government seizure sites that have public auctions for example www.bid4assets.com. Most of the government sites can be accessed through this website http://www.hud.gov/homes/index.cfm . Poke around this site and you may be taken to other government sites. Best of luck! |
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calliope320
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My husband and I are in the exact same boat. We're considering moving out of state. That or we wait until either of our parents are gone and move into their house. =P
Just keep saving, and check your credit every year and do what you can to build it up. Look into repos. Sometimes the past owners trash them a bit when they know they're going to lose the house, and since they didn't have money sometimes they're not as well kept as the other houses in the neighborhood. But a bad house in a good neighborhood is better than a good house in a bad neighborhood. Also look into areas like Fontana, Rialto, San Bernardino... Places that are still "developing" and still have land to grow into tend to be cheaper than say the San Fernando Valley or Orange County. |
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sexytrojan
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KBS,
I live in the West Los Angeles/Beverly Hills area. A condo next door to me is on the market for $750,000!
The only homes that are almost affordable in the LA area are in neighborhoods I do not want to live in.
According to past trends, the housing market will fall by 20% in the next few years. On top of that, it will be a buyers market, so you can lower the price even more. |
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Terra B
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I am a realtor in Southern California--Santa Clarita area and you can get much more than an okay home for that price. The condos in my area start at around 250K, or a townhome will run about 350K or a SFD will start at about 425K depending on the amenities, area, etc. Where are you looking to buy? Where do you work? Are you willing to relocate? Can you commute? I know of areas even less expensive than Santa Clarita. Please feel free to contact me about any questions you might have. I work extensively with first time home buyers to get them the financing that they are comfortable with, and will be more than happy to work with you! www.TerraBruns.com |
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mstrofmymindyesthisistrue
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Move to Las Vegas where its 300k for an average house and 700k will buy a beauty of a place |
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Five Stars Mortgage
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Only way I know of is an option arm program where they have introductory rates of 1-3%. You can get that minimum payment fixed for five years however it's a negative amortization situation... so it depends on how long you plan to live there as to if this is a viable option for you. |
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S C
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California Housing (CALHFA) offers programs for first time buyers. You may be able to receive assistance in purchasing your first home if you qualify for these programs.
My friend who lives in CA purchased a two family house with a friend. This was the only way they both could purchase a house because they split the mortgage in half. Just an idea if you have that option. |
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