 Is it possible for 2 couples to get a mortgage together? |
| My husband and I have lousy credit but make good money. My best friend and his wife have the same problem. Neither of us can get approved for a mortgage on our own. I am wondering if there are ... |
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 How do I calculate my monthly payment?!? Plz Help!? |
Hi, I am buying a house for $211,500. I am paying a $30,000 downpayment. I have of pay intrist of 6%. How do I calculate how much I'll have to pay monthly. Thank you.
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 Can seller take house off market after finance approval? |
| We've put an offer on a house which was accepted, but the bank is taking its sweet time with final finance approval, despite us getting all info to them same day. Now the seller says he will ... |
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 Why dont the Feds reduce the interest rates. And Cap the interest rates of people with bad credit.? |
| The higher the rate the more likely people will lose there home, the more likely banks will close their doors and it is a domino reaction. If the Fed's would come in and regulate the Mortgage B... |
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 Eviction Issued, but Landlord has the WRONG NAME? |
| Here's the story. Landlord never gave my friend a lease, rental agreement or receipt of payment. He waived the deposit and basically accepted cash under the verbal agreement he would provide the ... |
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 What's a high real estate commission ? |
What real estate commission is considered too much that would be questionable for lenders?
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Have lenders denied the loan coz of higher commission than norm?... |
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 *Council mansions*? |
I was wondering today. If a family had like 15 kids and the parents weren't working would the council/housing association provide a mansion for them to live in.
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 Would you do this if you had too? |
| My fiance and I are going to apply for a townhouse today. The only problem is our income. THe rental goes for 1150.00, and combined we only make 2,452.00. We have no debt is only paying off my ... |
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 Should I refinance an 80/20 50 year loan w/ a 2 yr arm after 8 months? |
| I purchased my first home in September of 2006. At that time, the only loan I qualified for was an 80/20. (50 year w/2 year fixed arm). The first loand is at 6.97% and the second is at 9.9%. At that ... |
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 Open House a bust...ideas? |
| My home in Northern Mi has been listed since Nov. "06. I haven't had one person look at it, I have dropped the price $80,000, put many improvements, working w/ a realtor (Coldwell banker), ... |
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 Question about renting a flat? |
If I want to move into a new flat at the beginning of July, when should I start looking?
I will be renting, not buying- I understand the market moves really fast and have been told before ... |
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 Is it weird to have or even ask for a "apartment" warming party for your 1st apartment? |
| My Boyfriend and i are moving into our first apartment. Finally! I have waited 22 years to do this. Just a few months after my 23rd birthday, my bf and I will be moving into our first apartment. We ... |
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 My wife's credit score is mid-700s, mine is high-600's, can we get a home loan? |
Additional Details
How do they choose which credit score to use? Experian, Equifax or TransUnion?... |
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 Help!Pending forclosure No sale date Yet........what is the next best move? |
| I am working now $43/hour 32 hours a week as a Nurse, the investor (Wells Fargo)will not work with me at this time (was not able to keep on repayment plan one time last year), I own my home owe $158,... |
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Ranchgirl | I am renting a house right now and would like to own it but do not have the credit to do so.? |
The landlord said that I could just continue paying the morgage payments until the loan is paid off and then the house is mine. What type of contract should I make up for us both to sign. |
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LittleLady
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get an attorney to draw up a document for you both to sign and it will be legal. |
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Amanda H
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This doens't sound good-- he's selling you the property for ONLY what he owes on it? He must have a motivating factor somewhere.
Whynot write a contract for whatever the full amount is now, (Like, say, $200K) and have a percentage of your rent go towards paying down the principal. Write it so that as soon as your score is good enough, you can get your own mortgage and pay him off. Then have a lawyer look it over.
DO NOT do this without a lawyer-- you could very well pay a lot of money and get screwed. Get everything in writing.
btw, if he owes less than 80% of what it is worht, and thats what he's selling it to you for...you should be able to get a loan regardless of credit becuase of the equity. |
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fsboTimes.com
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You should get a real estate lawyer who has experience working with real estate options...you do not want to write something up yourself.
There are a number of real estate investing books which can give you a good idea of how the process works. A good one is:
How to make money with real estate options.
Good luck in becoming a home owner. |
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expatriate_taxes
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I smell a rat. Heed the others' advice about getting an attorney involved, before you sign anything. But before you even do that, you should do some serious research in the housing and real estate market in your area. Prices are likely going to come down and buying in now could cost you quite a bit more than necessary. |
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united9198
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Get an attorney to draw up the contract. What you will be doing is likely a land contract. That landlord will retain title until it is paid for, but as long as you don't miss payments, the house will be yours. One warning...miss payments and he can throw you out and regain ownership and you lose what you have already paid. |
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Kitty
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You NEVER buy a home WITHOUT an attorney first of all.
If you have no credit but have good standing with the landlord then ask and see if he/she will carry your loan "contract for deed". This is how I have acquired all my property. It benefits YOU and it benefit the guy/gal you are buying from for now they get to make the interest instead of a bank. They play banker!
You will need a down payment of 5% to 20% depending upon what the landlord and you agree upon. If you default, YOU LOSE... the landlord can now say toodleloo and keep your down payment and now try reselling the property and make even more money!
All in all go to a lawyer, the BOTH of you and sign a "contract for deed". And then welcome yourself to Home ownership !! : ) |
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bostonianinmo
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Get an attorney to draw up a contract for deed. Don't even think of going it on your own without legal advice on that! And don't sign any agreement your landlord offers without having a real estate attorney (NOT an agent!) review it. |
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educated guess
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Lease to own-but your landlord is full of crap. It is not that easy.Push him for a contract and see how fast he changes his tune. He probably will "let" you do some up-grades-to his property. Don't fall for it! |
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afrodyzyak
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Move to Texas, it's easier there. |
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mj
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you need to have a contract to sale signed by both of you. Basically, he is selling you this home at whatever the balance due is. So you need to have this contract signed to make it legal. Without it, he can still sell the house from underneath you. |
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WILLIAM W
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Maybe he is tired of renting or in over his head on the property and just wants to get rid of it. But do have a contract made up from a legitimate real estate attorney. |
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