 Why does my lender want to see my entire bank statement for the last 2 months? |
| Is it not enough to just show the cover page of the statement that shows the opening amount and the closing balance? Why would they ask for the entire statement the shows all transactions in the ... |
|
| Should I refinance my 7/1 ARM 2 years early? |
| I have great credit and 40% equity in my home. I took out a 7/1 ARM 5 years ago and have 2 years left. I got a good faith estimate from a couple lenders and found I can refinance and my current ... |
|
 Which renters should I choose? |
| Here are the situations. I have a 2 br and 2 bath condo apt. I won't be moving in right away and will sublet it for 6 month or longer or shorter depending on my current situation which I would ... |
|
 How many skipped mortgage payments before the bank can begin foreclosure? |
| Lost job in the begining of May. Paid May mortgage payment, but only a fraction of June's. It is now July 21. Can the bank foreclose already? I just sent $600 but still owe $1,000 of June's ... |
|
| Can my landlord refuse to let me take in a flatmate? |
| I'm thinking of taking in a flatmate or lodger to help me pay the rent. I will have to ask my landlord for permission. Do they really have the right to refuse? I have a 3 bedroom house and its ... |
|
 I'm Buying my first home and I have a question about.....?? |
| Our closing date is set for the end of June this year, but I want to know if typically the owners of the house will let you do any work prior to closing. They have already moved out, and we want to ... |
|
 What do I do when bank start to forclosure my house? |
Additional Details
I m not able to keep the house so I have to let it go. Please let me know what to when the eviction paper is on my door.
Thank you so ... |
|
 My mom is selling her house and has received an offer and she has signed the purchase agreement recently.? |
| She has agreed in the agreement to close no later than 8/1 and to close within a week when their bank say it is ready. But, she heard from her real estate agent that they want to close in the ... |
|
 Viewed a new rental property today and the estate agent said? |
| if you rent an unfurnished property the council tax will be less than a furnished one. is this correct. or are they lying to try and get us to sign the contract?... |
|
 Do we legally have to pay rent while living with parents? |
| I am 21 and finish uni next month. I'm living with parents in a council house, parents are on housing benefit and dont pay rent. Legally, would i be required to pay rent after completing full ... |
|
 Homes in Foreclosure!? |
| What are the requirements and steps taken in order to buy a foreclosed home? Has anyone done it and been sucessful? It's it worth it to try and buy a foreclosure as a young couple? Are there ... |
|
 Is a cosigner frowned upon for a mortgage? |
Last time I looked at my credit score it was in the mid-high 500's. Both my parents and inlaws have offered to cosign for a home loan and both have stellar credit.
A friend who used ... |
|
 What is the procedure for a landlord to evict someone from their apartment? |
| I am wondering if the laws differ in every state? Also, how long does one have to come up with the rent before an eviction notice is served? I don't have 2 nickels to rub together and the new ... |
|
 Parents would like to sell me their house below market value with monthly payments no interest is this legal.? |
| I have 3 Siblings and have been living in the family home for 20 years. All of the upkeep have been provided by me my parents has agree to sell me the house for only $20,000. I have been searching ... |
|
 How much do banks usually lend for mortgages? |
| Let's say I make 50K and want to buy a house. I'll put 50% down in cash, but how much do banks generally lend people, and is there a formula for calculating that amount?... |
|
|  |
***Cassiopeia | I am looking at a house for sale and the Realtor says we can "get creative" with the mortgage-how is that? |
Additional Details
Yes, it was listed at 400,000 two years ago and has set empty ever since then. I think it is worth half that at best. I am wondering if the owner took out a second mortgage or something...
|
 |
 
LifesAMystery
 |
Run away fast.
The reason why a lot of people are losing their homes and destroying their credit in the process is because they worked with someone who is "creative."
I know an attorney (smart person) who's facing foreclosure, because an agent told her that she can borrow against her home to buy a new home, do $25k in improvements on her old home, and that it wouldn't be a big deal, because her old home would sell within weeks. It's been on the market for almost 14 months.
Find someone who will put you in a 30 year fixed. Good luck!!! |
|
100% Organic Snarkâ„¢
|
That's realtor-speak for "you can't afford this house, but because I want my commission, I'll go through every shady lender I can find until I find one that will give you a mortgage. I don't really care, one way or the other, if you can afford this house and the mortgage I find you, and whether or not you can actually make the payments, I still get my commission, even if you end up losing the house within a year." |
|
Real Estate Guy
|
What do they suggest? |
|
Joseph, II
|
I'd be alittle wary of too much "creativity" in getting a Mortgage these days... It was JUST such creativity- that got so many people buying Houses a couple of years ago- into the Foreclosure MESS we're all in, today! :( If you decide to give it a "Look", ask a LOT of Questions, get the proposal in WRITING, and then have an Independent Party check the Deal out... It's a BUYERS market, don't forget, - so don't be afraid to take your time OR "call the shots..." There ARE good Deals to be Had- so don't be "Had" by a bad One ! :) |
|
estielmo
|
Lying on the loan application(fraud). Getting the seller to overvalue the house and give you a kick-back you use for the downpayment (fraud). Hiring "friendly" appraisers (fraud). |
|
Las Vegas Realtor
 |
That can mean a lot of things. You'll need to ask the Realtor what they mean by that. The seller may carry all or some of the note. The seller could be offering a cash back (illegal if the lender isn't aware). Seller could contribute towards closing costs and buy down your interest rate...lot's of possibilities. |
|
flipsmum
|
Perhaps it means the seller is willing to finance? Or perhaps they have other choices (connections) to get you a mortgage. But as the other poster said, I would think if you "have to get creative" in order to get a mortgage, you probably cant afford this home. Best to ask the realtor what exactly they mean by "creative". |
|
Tony D
|
Not enough data to make a call. But it sounds like you are going to be asked to assume a higher risk position up to and possibly including some illegal activity in the mortgage process. Be very careful here. |
|
awesthoustonrealtor
 |
rofl... |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 12 minutes(s) ago
| | | |
9 | 29 minutes(s) ago
| | | |
9 | 49 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 10 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 3 day(s) ago
| | | |
8 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
