 Thinking of buying first home, but I have bad credit and no down payment? |
I keep going back and forth:
- I could wait a year and improve my credit and save for a down payment. I would continue paying more in rent than I would in mortgage and insurance, but I ... |
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 Credit crunch and today's interest rate drop - when to buy a house? |
| I'm a first time buyer so for me, the more house prices come down the better. But I'm also worried about missing the boat - I don't want to wait and wait and then find that suddenly ... |
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 As a homeowner, should I sell the house of rent it out? |
| I live in zip code 95132. Rents might go to $2000 for a 1790 sq.ft., 4/2 house. My property, unmodernized, built in 1965, might sell for $125,000 less than last year (now <$600,000) I have an ... |
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 What do you think? Quick question, easy 10 points for best answer!!!? |
| My lease is over this month and i want to leave, rent is gonna raise for all tenants who renew. so i applied for this other apt. showed proof of job,bank account, and current apartment verification (1... |
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 Please help!!!can not find no where to live!? |
| me and my fioncee have been looking for a place to live in apple valley ca since it is where he works at and i have been looking everywhere for listings of houses to rent. i have found some but since ... |
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 Landlord problems? |
I am really un sure what to do about this!!
I moved into my rented rent at the end of February 2008, a month later I got a letter through the door from a solicitors saying that we need to ... |
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 When first buying a house, financially speaking should one go very big or go small? |
| It seems that people these days go as big as possible (really stretching financially, some so much that they go paycheck to paycheck starting on a 0% down ARM)...is there a good reason to go this ... |
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 I chose realty fraud for my senior project...will that put people to sleep? |
| I'm a senior now and I need to choose an interesting topic. what do you think of realty fraud? where can I find good information on it? I couldn't find any. it'd help if you told me ... |
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 How can i rent an apartment without a backround check? |
| Me and husband have tried to rent an apartment but his criminal backround is not good mine is fine and they wont take us because of it what can i do?... |
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 Should I trust a tenant on housing benefit? |
| A young lady has advertised for a flat. She is pregnant and will claim housing benefit. She revealed, however, that she has a partner who works and that she is also working part-time. Will they ... |
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 In Texas, is land lord responsible for providing window units in home with no central air conditioning? |
| I am renting a house in Texas that does not have central air conditioning....is there some kind of 'tenant law' that says my land lord is supposed to provide the window units? Where can I ... |
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| We put new wall to wall carpet in our rental unit before the tenants moved in two years ago.? |
| They have been having trouble with one of their children (smoking cigarettes), and there are four or five burns in one of the carpeted rooms. I imagine the whole carpet will have to be replaced when ... |
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 Rent Increase Do To Greed? |
My rent has gone up 90 dollars in the past year and a half.
Can they do this? And to top it off it has just gone up another 20 dollars while the interest rate has drop?... |
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 Names of manufactured homes dealers? |
| i'm looking for them to be located in G... |
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Kate S | I am thinking about renting a house that has been foreclosed, am i taking over the mortgage payments? |
Will I have to go through a bank, am I making payments to purchase the house or still just renting? Can I be kicked out anytime if the owner's can start making payments? Does the bank own the house and they are renting it to me? Any help would be much appreciated. Thank you. |
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Johnny A
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no..you are merely paying rent |
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Landlord
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You can't rent it if it has been foreclosed. Anyone telling you otherwise is running a scam. If the foreclosure has happened the bank owns the house and will sell it to you, but is not in the business to rent it out.
If it is "in foreclosure" the bank has not taken possession yet, but you will be booted as soon as it does. |
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Tim
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If the house is being foreclosed, run away. Find another house to save yourself major headaches. |
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haygirlc
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If the home has been foreclosed on, it is owned by a lienholder. It may or may not be a bank. A private investor may have held the note, foreclosed, and now owns the property and wishes to rent it out.
Who is showing and leasing the home? That entity should be able to give you some information about the duration of the lease and the current circumstances. A lease or rental agreement is different than a purchase, option, or rent-to-own. Very different contracts and requirements.
My concern would be if the house is in foreclosure--as in it has not yet reached the point of trustee sale or auction. That affects the stability of your tenure as a renter. Is the home on the general market for sale? If the ownership is in question and you are being offered a month-to-month lease, it is possible that the home may be exibited for sale and sold with you in it as a tenant at any time. Then you would be inconvenienced by people wandering through the home, and you may not have a lengthy rental period. Once the home transfers ownership the new owner may keep you as a tenant or want to move into the home themselves. |
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angeleyes
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No you are not paying the motgage. It is a rental agreement between u & the owner... They have to give you a 30 day notice before they kick you out... I would not go into a situation like this becuse if the owner is not honest & don't send in the pmt & they forclose you are sh** out of luck! |
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Hubert A
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If it has already been foreclosed on, the the title of the home is now with the bank.
If they are offering to rent it, then that is not purchasing - two different things. If you are renting to own, then that is completely different again.
If truly just renting, then you would only be responsible for your rent payments and the previous owners situation would have nothing to do with yours.
Make sure your Rental Agreement states that this is all you are responsible for.
Good Luck! |
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Rainy
 |
no you are not buying the house or taking over payments you are renting per the terms of your rental agreement . . . normally the mortgage co that owned the loan will have a company that they use to rent out the property's they have aquired thru foreclosure when they are unable to sell or find it more profitable to rent / lease out the property |
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litl m
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If you are renting you are not taking over the mortgage.
You would rent the home from whomever now owns it, probably the bank or mortgage company if it has been foreclosed. If the owner still has possession of the house and it is going to be foreclosed do not get involved. Although you cannot be kicked out as long as you have receipts for the rent you paid, but you can be given notice to move so that the bank can sell the house to recover their loss.
If the foreclosure is complete the owner has lost the house and cannot "start making payments" and claim the house.
My experience with foreclosure is the buildings are not usually well maintained.
Before you rent anything, be sure of who legally owns this home and deal only with that person. |
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pup382
 |
My suggest to you would be to find out exactly who owns the house and the current status of the forecloser before making any decisions. |
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