 Can I sell my house with a mortgage still on it? |
| Hello, here is the deal, I owe money on my mortgage, but I want to move to another city. I have a guy who loves the house, but he wants to do the owner financing. I figured I could sell it to him ... |
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 Mom passed no will I live in the house 3 siblings. Who gets the house? ? |
will I have to move and how much notice do they have to give me if they want me out. I can currently paying all the utilities on the house and am in the process of changing them into my name.
A... |
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 Same people are coming to look at my house for the 3rd time? |
Sounds like good news to me? How many times do you look at a home before you decided that you want it? I think I only looked twice on both of my previous homes.
Additional Details
LOL-... |
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 Can you change the status of your current mortgage? |
| Can you change your current home to an investment property and move into another home that is the primary residence?... |
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 Landlord wants to charge rent past the end of the lease. Is this legal? (VA)? |
| My fiance and I currently live in Fairfax County, Virginia in a rented apartment. Our lease ends on May 17. We will be moving to Portland, Oregon in mid-April. Because we're moving before ... |
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 Are tax returns required when renting an apartment? |
| I live in Texas and in the process of locating an apartment (my first). My current employer pays me in cash and I was wondering if presenting tax returns are generally a requisite during the ... |
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 Trying to sell home neighbors kids scaring off all my buyers!? |
| I lived in a very nice quiet neighborhood culdesac for 15 years. So quiet you could hear a pin drop day or night. This past winter a family with 9 kids (yes 9!) across the street moved in. No I ... |
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 I have an ARM with a penalty phase getting ready to end. Where do I start to refinance? |
| I know that everytime my credit is checked, it is a hard hit on my credit. I want to shop around for the best rate, but want to do so in a way that will not be detrimental to me.... |
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 Is it worth avoiding paying PMI on a mortgage and withdrawing some money from retirement funds? |
Additional Details
was thinking to take out 10K from retirement funds as a first-time home buyer (hardship withdrawal) to make the 20% down.... |
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 Do I still have to go by a lease when it when it ended 6 months ago? |
| I have been living in my apartment for a year this month. Our lease was month-to-month during that time, and now of course we are month-to-month, but without a valid lease. We have been paying on the ... |
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 Any help out there to prevent foreclosure? |
| I am about to have a huge problem. We took out one of those New Century loans with a low (ours was not that low but...) intrest rate for two years and then they can rais it. We had planned to ... |
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 Are the any government grants out there to help a low income family buy a home? |
| Are there any government grants out there to help a low income family buy a home. I'm a first time home buyer and I can never seem to same any money for a down payment. The cost of the home I ... |
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 Can i charge late rent fees to my tenants? |
| I have been a landlord for about 15 years now and never charged late rent fees to my tenants. I have had lots of problems and think its time for a change. Does anyone know what the process is for ... |
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 I was given an inflated real estate appraisal. What can I do?My sales price was based on it.? |
| I purchased an investment property last year whose price was based around an appraisal which I now believe to be inflated. In looking at other appraisals, the numbers used are very different. They ... |
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 As a HOME BUYER, how does this make you feel? |
| The national association of realtors brags (see link below) that home sellers that used real estate agents to sell their home received a 15.4% higher sales price than sellers that sold their home ... |
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 Just who are all of the people defaulting on their home loans in America.? |
These people made false statements on their applications, and some unscrupulous lenders aided these home buyers.
What is the demographic on these people?... |
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 Lease Tenant Changes? |
| I am a primary tenant of a townhouse in Virginia. My wife who also signed the lease recently left. She has no intention of coming back and I would like to know by law what are my rights as a primary ... |
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God'sStrength | How can you get a bank loan for a house when you don't even have nearly as much for collateral? |
I was looking at a book about real estate investing and it says you can take a small amount of money (Example:$10,000.00 and have the bank give you a $70,000.00 loan added to your $10,000.00 and you can invest in real estate by buying your first home. Now, how in the world is the bank going to give anyone that much money when they don't even own that much? Plus, what if they're credit is bad? I guess they can't invest in real estate can they? If they still can, please explain to me how this is possible regardless of credit history?
Additional Details
I got this information out of a book about little or no money down on real estate investing. I think this is B.S., especially I went in the bank and tried to get a home loan and they told me my credit was way too bad. |
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WESTERN M
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The house IS the collateral . If you don't pay for it they sell it out from underyou and take all your equity with it |
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ga_rei_guy
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Your credit rating is going to determine how much you are going to pay each month. The worse the credit, the more risk the lender has, so they offset that by charging higher interest.
The more you put down makes the lender feel more comfortable that you will make the payment or risk losing your investment,
The lender is willing to do that because you are borrowing against a durable asset that generally appreciates vs. when you purchase a car that depreciates.
Hope that helps. |
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Chicago Girl
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Banks want your credit score to be at least in the 600's and higher. They usually use the house your buying as collateral. If you dont pay, the bank gets the property in foreclosure. Hopefully they can sell it for what you owe on it otherwise you will have to pay the arrearage on it. Good luck. |
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Tony T
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the book is probably a scam, especially if it asks for money to give you some secret way. Banks rely on credit. Maybe you can get a cosigner to put up something of value that will equal the down payment. That is an option that I did and it worked. |
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vigorousthree
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very easily. Banks stay in busines by lending money. You can easily get 80,000 or 500,000 or even a million with no collateral at all. You just need to know how to structure it and have access to wholesale lenders. I put together programs like that all the time..even with less than perfect credit..Talk to a good mortgage broker that is wiling to educate you and not rip you off. |
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bostonianinmo
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The house is the collateral. That's how mortgages work! If their credit is bad, they probably won't get the loan in the first place -- or if they do they'll pay an exhorbitant interest rate. |
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Bodacious Baby
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U GAVE UR OWN ANSWER BAD CREDIT. IF U CLEAN UP UR CREDIT U CAN BUY A HOME AND U KNOW WHAT THE COLLATERAL IS UR HOME, NO PAY THEY TAKE EASY AS THAT! |
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KHS
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your house is your collateral.
if you have fair credit history and steady income, any bank can even fund you 100 % for your home. |
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SatinGun
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First, you won't get it if your credit is really bad. I'm sure the book tells you this.
Why does a bank loan you money on a car? If you have $2,500 to put down on a car, and you buy a $25,000 car, obviously, the bank is trusting that you have a good job, and you will pay back the loan.
It is the same for a home, except that it is on a larger scale. Plus homes hold their value longer and generally increase in value more than an automobile. But, your credit-worthiness is what helps them determine if they will loan you money. |
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