 Can I buy a home after foreclosure? |
| Okay here's my situation I am currently separated. When I left my home we had a buyer for the house and were set to go to settlement in 2 weeks. I moved into an apartment. The deal fell ... |
|
 Can 4 people live in one bedroom flat? |
i live me and my wife with 2 kids one he is 14 and 12 years old boys
we live in one bedroom flat .
i sleep with my wife in one room and kids both in living room
is that ok in english ... |
|
 Is it possible to make an offer on a house when mine hasnt been sold yet? |
i wasnt sure if they had a contingency agreement of any sort?
Additional Details
CAN SOMEONE GIVE ME AN EXAMPLE OF HOW IT MIGHT GO IF WE DONT SELL THE HOUSE OR IF WE DO? IN OTHER WORDS WH... |
|
 I need help deciding if $990 rental price is a good deal.? |
| I currently live in a 1bed/ 1bath in Rancho Cucamonga, CA, paying $990 monthly. The lease is up at the end of the year, so we are looking for something bigger and our cost here will go up approx. $50... |
|
 How often should your realtor take you to look at homes? |
| I have my preapproval letter and have sent her some mls listings of homes i would like to go see. We have not gone out looking in the past 2 weeks. Is this normal?... |
|
 My house purchase is due to complete today. Any ideas what time it is likely yo be and what acutally happens ? |
| All my searches are back my deposit is payed my mortgage is agreed and its due to complete today but when ? I dont understand what im waiting for as we have already exchanged contracts ! Any ideas ... |
|
 Can we be evicted for complaints about our baby crying at night? |
| We live in a large apartment building in San Francisco, CA and recently received a letter from our landlord stating that they received several complaints about our baby crying late at night and early ... |
|
 Is there a difference in getting a home loan through a local agent or online? |
| Does it make any difference if I was to use somebody local where I live, such as Bank of America or HNB Mortgage as opposed to firsttimehomebuyers.net, quicken loans, or ditech.com?... |
|
 Can a landlord sue me for damage to an aprtment? |
| I have lived in a small upstairs apartment for over 5 years. I have had a dog the whole time with the knowledge of the landlord. The carpet is really full of dog hair. I will try cleaning up but ... |
|
 My lease ends but my apartment won't let me leave? |
My lease is ending in a few days. However my apartment complex says I need to give 60 days notice before I leave, and will bill me for these 60 days past when my lease is up.
Shouldn'... |
|
 How do you deal with a mother that hasn't left a will and has died, the kids want to sell the house, minus 1 |
| My gradmother in italy has died, and didn't have a will for the house that she had. So the house has all gone to the kids of the grandmother. There is one child that lives in Italy (all others ... |
|
 Real estate agent fees? |
| I am considering buying home. we do not have a realtor, but the seller does. The realtor stated he would serve as realtor for both sides, dropping his fee to 4% of the selling price. Do we have to ... |
|
 Will the bank accept this offer? |
| Yesterday I placed a 74,900 bid for a house that was listed for 79,900. It has been listed for only 8 days and it is bank owned. Do you think that the bank will consider this bid, being that it is ... |
|
|  |
Essex Boy | I'm looking to buy my first property, early 2008,with a 100% mortgage, is this a mistake or not. HELP? |
should I, or Shouldn't I, i need some good advice on the housing market. |
 |
 
Ren
 |
According to statistics it's a buyers market and therefore a good time for you to buy and get the best deal. As an agent, I encourage my clients to buy when they find the "right" house for them. Most clients walk into a house and immediately know it's right for them. Don't put too much into statistics and the market, buy when it feels right for you. If you need a realtor in your area, let me know, I'd be happy to refer you! :) Good luck and happy house hunting! |
|
Cari
 |
You don't say where you are located, and because the answer is going to depend on the local market, then you should really go back and edit your question to include this information.
Whilst buying with a 100% mortgage is never the greatest idea, I do understand that in some situations, it's the only way you'll ever get onto the property ladder.
If you're in the UK, this is going to be a HUGE mistake in early 2008. In some parts of the country, house prices are already declining so that people with 100% mortgages now have negative equity, and this trend looks set to continue to an even greater extent. Whilst I don't think there is going to be a major decrease in prices ever, especially not in London and the South East, if you have a 100% mortgage even a drop of, say, £10,000 is enough to severely impact you.
However, don't ask me; ask the bank. If they think it's a bad idea then they simply won't give you a 100% mortgage. End of. |
|
Robospud
|
A 100% loan of any kind should be avoided if possible
Have a look at this site
http://forums.moneysavingexpert.com/forumdisplay.html?f=5 |
|
EdgeWitch
|
It is a positive thing to get a mortgage rather than renting, but make sure you do your sums properly first.
Allow for the fact that mortgages may rise. Even if you get a fixed rate to start with you will have to adjust for highs and lows in the rates on your later payments. Take into account council tax, insurance, energy bills, etc. Get your mortgage with an established lender.
I bought 22 years ago and have no regrets, but you must be aware that for the first few years this is where your money will go.
Don't buy because you want an investment, buy because you want a home. |
|
thinking-guru
|
It is a buyers market and that will continue into 2008. It is a good time to buy as prices have fallen (not values). Rates should remain steady in the low to mid 6's depending on the loan program (todays 30-yr fixed is at 5.875 w/ 5% down). 100% financing may be in the upper 6's but that is still a good rate.
Take a careful look at your personal finances and be sure the mortgage payment will not break you. Get a fixed rate mortgage so your payments will remain the same. Home ownership is always better than renting - rent goes into the landlords pocket while the mortgage payment is an investment in your future (home equity). |
|
Pengy
 |
The average price decline throughout 08 is expected to be around 6-7%. Some markets such as CA, FL, MI, NV are expected to be in the 20% range. You would be better advised to wait and save up for at least a 3% downpayment and go through FHA. You do realize that with 100% you will be paying PMI which can be expensive. Early 08 is when the next set of ARM's are due to reset so expect many more foreclosures, thus adding to the glut in homes. Best advice I can give is to start reading the business sections on the net to keep abreast of what is going on in the housing markets. Make your decision from there. |
|
rose
 |
Not if you're buying in London |
|
Mental Mickey
|
UK house prices have peaked and in many places are now on the slide. If you take out a 100% mortgage you'll risk putting yourself in negative equity and having a mortgage which is worth more than your house. That's not a good situation to be in, especially if the economy gets any worse. Prices are falling for sure, which means there are bargains to be had out there, but a 100% mortgage is a huge risk. I'm not sure many borrowers would even lend such an amount. They're really starting to tighten the screws on this sort of thing now - getting people into mortgages they can't afford - if they think it's a bad idea, they won't lend. |
|
Butternut27
|
I would wait we are heading for a recession and prices will fall...
100% mortgages may be pulled by then...the lenders are pulling products all the time..and 100% is seen as a high risk by the lender...have a plan B......
I would wait and buy someone elses repossessed property on the cheap...
We have problems that no one wants to discuss esp Brown
1. high oil prices...will be passed to higher prices elsewhere
2.banks are not lending to each other
3.the banks have been hit harder than they thought by the US subprime fiasco
4.prices are already falling in commercial property and a recession in the housing market is unaviodable
5.Fiscal policy...revenues have been lower than forecast and spending higher than forecast...
the housing market has been over valued for a while and its time for readjustment...prices have to come down there are more sellers now than buyers.... |
|
groovymaude
|
It's always a mistake to take on 100% mortgage. Wait for property prices to fall which they are starting to do and save your deposit. |
|
Jerrold J
|
It depends on the numbes and you ahve not given us enough numbers to work with to give you a decent answer.
What is your gross income, tax rate, amount of assets, job stability, family situation, location, education in this type of transaction, and what team members do you have on your team to evaluate the deal?
What is the location, condition, crime rate, schools, population growth, job growth, tax enviorment, appreciation rate for the area the property is in?
Is this property for primary residence or rental or commercial? What are your goals for the property and what research have you done to determine the short and long term affects of holding the property?
I can't give you a solid answer until you provide solid information. And anybody who gives you an answer will be wrong because they can't know everything they need to know to give a correct answer. |
|
acermill
 |
The days of 100% LTV financing are nearly history, unless you have stellar credit and a good asset portfolio to back up your request for such a loan.
As far as housing values are concerned, it's anyone's guess as to how much farther, if at all, values will fall. Too many variables sitting out there right now. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 22 minutes(s) ago
| | | |
12 | 48 minutes(s) ago
| | | |
12 | 49 minutes(s) ago
| | | |
12 | 51 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 6 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
12 | 11 hour(s) ago
| | | |
12 | 2 day(s) ago
| | | |
12 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
