 Can anyone advise how my parents can transfer ownership of their home to me, legally? |
| My wife and I have lived in a large house with my parents for 27 years. My parents now want to pass ownership to my wife and I. There are no monies owed on the house.... |
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 Are we responsible to pay the remainder of our rental lease if the landlord has the condo listed for sale? |
| We are currently renting a condo, but the landlord is in the process of trying to sell it. The lease is up at the end of October, and we are currently buying a house with the intent to move in ... |
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 I see a lot of vacant homes around.Can I just go in and settle down there? |
I walk and bicycle around most of the time.That's all I've got.
Additional Details
The kind where the doors are left wide open and no signs of life around.... |
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 I am a Tenant in a privately rented house. and at the moment im having problems with my shower? |
| for the past 2 months its started to breakdown ive been onto the landlord about it he said get a quote i got a few quotes he said there all too expensive so a month past and landlord contacted me and ... |
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 Buying a house? |
| Me and my husband are moving to Ft. Stewart, GA. He really wants to buy a house and I am not really into that whole idea. In the military we normally stay at one spot 2-4 years. He's saying when ... |
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 I want to add value to the property that I plan to sell. Its a two bedroom house on large lot. What would? |
| bring more value - adding central air/heat or adding an extra bedroom. The houses in the neighborhood are mostly non-central air/heat and most are two bedroom houses. Its also a really small ... |
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 Is it possible to find and apartment to rent after and eviction? |
| most apartments that I have found that do except evictons are in the worst area> Does anyone have any sugguestions.... |
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 Tips on buying a house? |
| what information do I need to buy a house?... |
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 Just bought my first home and moving in soon. Who pays the previous tenant utility bills? |
I am concerned that I will have to pay any electricity / water / gas bills from the previous owner when I reconnect the utilities.
This is my first time moving out - so just tight for cash...... |
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 When you are looking for an apartment what does studio mean? |
i was looking at apartments in chicago and it says studio, does that just mean that its like an open room?
Additional Details
so would anyone reccomend living that way?... |
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 Best mortgage deal? |
| My sister in law is moving to Florida and is looking for the best mortgage deal that she can get. She has the house picked out and now needs the best 30 fixed with no added cost. Any help would be ... |
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 Are there real small houses that are dirt cheap to buy? |
| such as small 2 bed 1bath houses, some say u can get those for a couple grand. i dont know if its true, who else can help?... |
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 If I owner finance my land & they build on it, then default, what happens? |
| I hold the title to this land & wish to owner finance it to someone. What if they build on it and then default on the note? Maybe the bank would fold it into the new construction home loan?... |
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 Question about my Renter and can I sue for more than deposit? |
| I had a renter in my house for two years. When she moved in the house was only 5 months old. We took a deposit of 1450 plus 250 for pet deposit. She just moved out a couple days ago and the house was ... |
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 Is it really better to have a mortgage? |
| I've had people tell me that you should always keep a mortgage because of the tax deduction. Is that really true? We paid our house off 2 years ago and it feels great to not have a payment, but ... |
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 How can I invest in real estate with $0 money down? |
| Banks are asking for 20% down. I have good credit but, no down payment. I appreciate any advice I can get!... |
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 Who can I report unsafe apartment conditions to? |
| I have lived in my apartment complex for 4 years now, and they've never been nice by any means, but they're completely livable; no bugs or anything. We have these wooden awnings which hang ... |
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 Could i buy a house with 3,000 dollars? |
| i want to buy a house with 3,000 dollars can i afford or not?... |
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Stephy | How do i buy the house im renting that is in Forclosure? ? |
My boyfriend and i just rented this house just to find out from our nighbor that the house is in forclosure, I asked my landlourd if this was ture and she had said she didnt want to say anything to use because she know that would have walked away which is true we would have but it would have been nice to know. Anyways I hate paying the rent every month knowing they can come any day and say you have 30 days to get out. We have kids so it would be really hard for use. I want to know how can we buy the house? Who do we have to talk to and do we have a chance if both our credit is bad? |
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Mikey
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Being a renter gives you NO advantage to purchasing the home.
Buy it in the same manner as if you were looking and stumbled across it.
Qualify for the mortgage first and then start the negotiations with the bank or homeowner. |
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golferwhoworks
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bad credit no chance at all. 580 scores and above FHA and the owner today. Call a mortgage professional in your area and see what they can get you qualified to buy as it may not be hopeless
I am a mortgage banker in TN & KY |
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senoritaroll
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First of all, good luck!!! I really hope it works out for you because you probably feel deceived and frustrated. I just purchased a bank repo and it was a really difficult process (not necessarily because the house was in foreclosure, but because the banks are trying to get the most money they can and because almost every house we put offers on had multiple offers). With that said, we finally got an awesome house for an awesome price... 15 offers later. If you can be patient, you'll find something. However, you might want to speak to a loan officer first about your credit to see if you will even qualify for a loan. Banks are being a lot more picky when it comes to lending... so I truly wish you good luck. My husband and I have good credit (not excellent, but solid) and we had no problem. We have a lot more credit card debt than we would like, but I really don't think that that is unusual for creditors to see. They will look at your FICO score, your debt to income ratio, and other things on your credit reports of course. If I'm not mistaken, they'll use the FICO score that is in the middle for both you and your husband. In other words, if Experian gives you the highest score, Equifax gives you the lowest score, and TransUnion gives you a score in the middle, they'll use that one.
Anyway, I'm not an expert, but I like to be informed, so I was really into every part of the house-buying process. I have a little OCD, but considering the current situation, I didn't want to find myself in the same situation as others. You should really consult with a loan officer and find a real estate agent that is doing well in this market. Many real estate agents were used to making lots of money several years ago and easy, so some aren't used to having to work to make it in this market. But, there are real estate agents who are awesome. We worked with a husband and wife team who have been in the business for years and their son was our loan officer. I highly recommend them, so if you live in Southern California, I can give you their info. Check the mls to even see if the house is listed yet. Before I met our real estate agents, I was using movoto.com or remax.com to find homes in my price range and target area. I would be wary of short sales if I were you because they are by no means short! We wasted a lot of time putting offers on short sales!!! While some do get sold, it seems you have to wait for weeks or months just to get any response from the bank! If the house is already a bank repo, the process is very similar to a "regular" sale (a sale from a private party).
This is getting lengthy, but I can give you a lot of advice, so if you'd like more, email me. Again, I wish you the best of luck because you shouldn't be the ones suffering... especially not your kids! I hope that I have been of help. :) |
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Michael H
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First, let me say that is regrettable. However, strength of income is on your side - because there are two of you vs one. If you want to find a Rent To Own Home, there are many web links featured on the website below! Also, if you are seeking to improve your credit, there are tips you can use and implement in restoring your credit as well - re-establishing credit is a fantastic tool to get started on the right track to credit recovery. Check the resource below for more tips and info on credit, credit cards and rent to own homes - I hope you will be able to find affordable housing here - Best Wishes! |
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kemperk
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if you have a lease, you may stay till th end of your lease.
if you have the $, it is possible, using a lawyer or broker, to bring the payments up to date and become a leasee with option to buy.
you are protected depending on what you write up in a contract. |
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godged
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Unfortunately, with bad credit you are not buying a home.
Go on your local city or county website and see if there is a list of foreclosure auctions so you have an idea of when the auction is to be held.
Once the new owner (presumably the lender) buys the home, they will initiate the eviction process. Then you will have about 30 days to move. |
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crftychk13
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If this is your first home purchase you can check into any state program for first time home buyers. They normally have restrictions on certain things, but they may even be able to loan you the down payment. Also, in my state, the interest rate for first time home buyers who go through the state programs are great. Good luck! |
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Alterfemego
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First, check with the county assessor office to see if the sheriff sale has taken place. If it has, the landlord had not made payments for several months. What you also need to know in your state is whether or not they have a "right of redemption" period. If so, then you may have that time to stay in the property, paying the rent is your option. While in this status, the landlord still owns the property and can evict you if you do not pay rent. My advise would be to find another place as soon as possible. It's unlikely the landlord will sue you, if they can't pay the mortgage. As for any deposit, you can consider that gone. Again if they aren't paying the mortgage.
You can find out at the assessors office who the lender is and try contacting them to purchase the property. However, they do not have the man power to deal with this issues and you may find it more of a battle than you want to tackle. If you have been turned down for a loan in the recent past, then you know you don't qualify to buy this property. Again, your best option is to find a new place to live without all of these issues. |
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gr8Mom
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you need to do a search on the house and see who owns it. find a lookup on your state online and check the tax records to see who owns it. If its a bank, contact them about buying it. you might be living there illegally if its in foreclosure anyway. I would take her to court if you get thrown out, she should be paying the house payments with your rent money. I would be mad. |
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irishmom91562
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With the way the economy is now, it takes a long time between foreclosure and eviction. The first thing to do is go down to the County Courthouse and find out the date of foreclosure judgment against the owner. Be assured that she stopped making the mortgage payments a good six months prior to the judgment date, if not earlier. Therefore, she is banking your rental payments. Get copies of every canceled check you paid to her, including the one with first month, last month and security if applicable. The next step would be to contact either the Sheriff's office or the attorney listed in the newspaper advertisement (Public Notice section, which should be part of the public records of the foreclosure) required before a home can be foreclosed upon. This office should be able to tell you whether the house was sold at auction or whether it's a straight bank foreclosure. Either way, it's not "overnight" that the foreclosed upon owners are evicted. Explain to the attorney for the bank that you are the tenant, and was not informed that a foreclosure was pending. Once you find out how much time you have to leave voluntarily, you will know if you can go two months without paying the rent. The landlady already has that payment, in the form of last month's rent and one month's security (hopefully you paid no more than that).
In the meantime, see if you can find a home with a lease purchase option, giving you two years to exercise the option to buy. Take this time to clean up your credit and get/maintain stable JOBS. Without two years steady employment with verifiable income and assets (checking and savings account), a debt-to-income ratio that is between 28-36% on the high side (meaning that your monthly bill payments ALL TOTALED do not go over 36% of your gross monthly income) and a good credit history for at least the previous 12-18 months, you will be unlikely to qualify for a mortgage. |
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