 Misleading & False MLS Property Details? |
I am in the process of buying a house. We did a visit and made an offer. After some negotations, the house is now under contract.
We revisited the property to check on a "Jacuzzi" ... |
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 Ex-boyfriend dosen't want to leave apartment.? |
| Me and my boyfriend have recently split up. He does not want to leave the apartment. I was orginally the lease holder, and later added him to the lease. The lease is up in a month in a half. Can I ... |
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 Question about defaulting on mortgage? |
| My neigbhor is really sneaky and has lots of police problums and such. one day she called me and asked me to look out the window to see if her boyfriend was home. when I looked out the window there ... |
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 I have moved into a new house...? |
and i have found a half dead person in my freezer, they dont want me to go to the police what do i do? he cant stay here forever???
Additional Details
sorry i shouldnt joke about things ... |
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 How to reduce the price of home already on market? |
| I'm considering reducing the price of my home that has been on the market for 3 weeks with more or less no response from the market (not one prospect has asked to see the house, other than at ... |
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 Should council house tenants be able to buy their houses at a discount price? |
| I just wondered if people think it is fair. My husband and myself pay about £800 a month on our mortgage, my parents had to put their names on the mortgage so that we could afford the house. Now I ... |
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 Is a landlord allowed to drop by and inspect his tentants' apartment? |
| Our landlord is saying he is dropping by for a "thorough inspection" we have lived here for 3 years and never has this happened. We are good tenants but he doesn't like us. Is he ... |
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 This is about living with a individual i dont want to live with and how to legally get thm to go in a month.? |
| o.k. i made the mistake of leting a worthless roommate live with me. their name is not on the lease or anyway from being on the lease. i gave this person a receipt for a months rent from dec. to jan.... |
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 Are older homes better constructed than new? |
| I have a 40's concrete block home and I really had to fix it up, updating it, rewiring it, etc., but it seems like newer houses are built so shoddily, and they fall apart in 5-10 years, What do ... |
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 House Hunting? |
| My fiance and I are interested in buying our own home. But neither of us have any idea where to get started? What are the steps in looking and purchasing a home of our own?... |
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 How to i break it to my landlord that i fixed up a part of the house and am going to decuct from rent? |
| I replaced an old threshold (the part of the exterior doorway that weather seals the floor to the door, usually metal with a rubber gasket) I did this because the old one was rotting out and moving ... |
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 Help! Scared to start my new career as a Realtor.? |
| I've been a stay at home mom for 6 years and I'll soon be taking my real estate exam. I'm confident about the test but I'm terrified about starting work. I live in a coastal ... |
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 I am suspose to close on a house during the week of december should I still pay rent to my landlord or not? |
| I am going to be moving in december and will just let the landlord have the security deposit as a form of rent for december, and I going to jeopardize my chance to close on the house if I dont pay ... |
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 People with apartments?? |
| I may be getting and apartment but i was wondering if you could tell me whats the best floor to live on. 1,2,3,4th.. or whatever, and why.Thank youu!... |
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 Landlord entering without asking...and breaking a lease? |
| So my landlord and I had a one year lease. I have been in the apartment for 7 months now. He broke the lease, by coming into my apartment when I was not home, for a no good reason ( to count floor ... |
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 Real Estate Negotiations? |
| I put an offer down on a house 2 weeks ago. It took the seller over 2 weeks to give me a counter offer and not only that, he raised the price. My original offer was very reasonable which was 1.5% ... |
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hillddaa33 | How do low income people afford buying a house? |
I literaly do not have any capital to put down a significant down payment. For those who are working poor, how can they seek and afford to purchase a home? |
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bob W
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thats is what an L2P is for. You do not need any money down and the seller is going to lose his house anyway. You can just assume the home and make the payments. Its the only way anyone is buying anymore |
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wwpetcemetery
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The Mortgage Asset Research Institute's (MARI) study found that fibs and falsehoods on applications by individual borrowers constitute the most common problems (56 percent of all cases), followed by bogus or incorrect tax and financial documents (33 percent), fake employment verifications (12 percent) and fabricated or intentionally inflated appraisals (10 percent).
In other words people lie about their income and some lenders look the other way....this is why I have no sympathy for those in forclosure. |
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Steven A
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The low incomers are long term folks. They save every penny and build a down payment and/or they work extra hours or get a second job.
Even the working poor aren't special, those who own a house are just hard workers. |
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Constance B
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That is why we are in the housing market mess we are right now. There are some people who home buying is just out of reach. Because of the housing mess, banks are afraid to loan to people with less than perfect credit right now too. What happened with the housing market was that there were those who would lend to people to buy a home and in order to make the banks take the loan do the following...
Inflate a person's income...( and make them sign a statement which was later notarized stating they made $45,000 a year when in fact they made $25,000 a year) These people are the ones who are crying foul and want the Government to bail them out of forclosure because they can't pay for the mortgages they took out.
Loan to people who did not have stable employment histories. A mortgage is a 30 year commitment. You aren't stable in your place of employment if you only worked there two years or if you decide that it is fun to change jobs once a year. If you have been with the same employer for more than five years, well then they think you have settled into one place.
Many people with low incomes have poor or no credit...this makes it hard for a bank to say, "Well, let's loan $150,000 to Mr. Smith whom was turned away for a $10,000 car loan because he has too many other bills." You do have to show that you have the ability to pay the money back WITH INTEREST. Sometimes people in this situation ( where maybe they are bringing in a substantial amount of money and have no job security), can get a mortgage...at a high interest rate. I know a girl who has a mortgage with a 12% interest rate, and another at 8.5% when it should be around 5 -6% currently. A 1% interest rate drop on $180,000 is about $400 a month you don't have to pay.
Then you also have to be responsible for three other things on top of the mortgage. You will be responsible for paying property taxes, you are required to have homeowners insurance, and you should have mortgage insurance or another life insurance policy in an amount that will pay the home off should you die. Each one of those things are several thousand dollars EACH every year.
Many banks require that you have a substantial amount of money in the bank ( and for some reason $5000 is a number they like to see), or have enough to pay closing costs ( which can cost sometimes $8000 or more). Some states did have programs to help low income people with down payments, but they are gone for the moment, they are broke, they have no money to give to anyone. |
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Zoe Dot
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they often get trailors instead...
just a suggestion.
have you a co-signer? if not, have you talked to your loan officer at the bank? they could help you maybe. |
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Jenn
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There is really not a way right now. There is no more 100% financing. FHA requires 3% down and that's your best option for a first time home buyer. I have heard that the government is trying to pass something allowing first time home buyers to have 100% financing if you buy a foreclosure. You really can find some great foreclosed homes right now. Good Luck |
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NYC_Since_the_90s
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You can't. Sorry, but being able to buy a home is NOT a right.
I would like to buy a jet, I do not make enough, so I can't |
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Oil & Water
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If you are in the UK you could ask your local council about part ownership. This is where you pay part rent and part morgage.
Other than that it is very difficult to afford a house or even a flat. My partner is in a well paid job and we still cannot afford a place. |
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Mrs HarleyBrat
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I understand how frustrating it is to want to purchase a home when funds are tight. Every state can be differant but check with a loan officer to see if they offer the Nehemiah Program.
It's a down payment assistance program - you can get more info regarding the program at www.getdownpayment.com That will take you to their website to explain how it works. Good Luck! |
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Briana
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Check out sallie mae first time home buyers program. Maybe even consider joining the military reserve because you can use a VA loan with no down payment etc. |
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ghostwalker077
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well their a few ways, one do as i , find a track of land, at a small price an buy it, then buil the home, 2th fha, is good at helping low income family. , 3th bank , has homes the close in on, talk to them,4th their some who let you rent to own, a home |
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ryanstotler02
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Well, considering you are low income, unless you have very good credit you will have a hard time even getting a loan for a house. You could seek a grant through FHA or if you live in a city work with HUD. Also, you could try to get a loan for a down payment, put the downpayment down and then get the initial loan for the house you are interested in. The bank may be willing to give you a personal loan for the down payment. I am not sure how this works, but it's worth a shot to ask. |
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andy
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Easy, there are grants out there for first time home buyers that if you get your preapproval in time it helps. That is how my girlfriend got her house. |
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acer a
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you have to sell your liver these days to get a house |
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