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 Can a creditor take you to court, with a view to possession or sale of your house, against an unsecured loan ?
...


 Can my landlord legally demand my Social Security number?
I live in Arizona and my landlord is affliated with Realty Executives.
Additional Details
I have already been renting from this individual. We have a new lease because of rent increase....


 Buying a New House. So Expensive!?
We are in the process of buying a new house (first time buyers). It is soooooo expensive.

Solicitor £1000
Survey £250
Arrangment Fee for the mortgage £500

Is there ...


 If I rent a house to someone and a tree in the front yard falls and crushes their car, am i responsible?
The renters car was in the driveway and a big tree blew over(tree was dead) and crushed the back of the car....


 How can I get financing to buy a larger home and keep my current as a rental?
I'm having a hard time ignoring the free fall in housing prices and mortgage rates. Ideally, I would like to purchase a new home and keep my current home as a rental. Am I crazy? Could I ...


 My best friend just got her baby home from the hospital today after being their six days...?
and when they got home they had an eviction notice on their door. is this legal to hang an eviction notice on someones front door? is it legal to start the eviction process when they are only ten ...


 When selling a house, is it better to show the house empty or furnished?
...


 Can anyone tell me how to officially give my tenant notice to leave?
I have a tenant that I have no problems with but I want to sell the house.
The tenant is aware of the sale but would like me to put it in writing.
How do I politely give the tenant notice ...


 Where can I get a poor credit refi?
Briefly here is our situation:
-our daughter had some medical problems & we got behind
-through the Hope Line, our mortgages are caught up
-we completed Consumer Credit C...


 Any ideas where to start when buying a house?
Ok, my husband and I are wanting to buy a house. We already have one in mind. It belongs to a friend of the family. They want us to buy it, also, because they know we'll appreciate it. They have ...


 How long do I have to have used land before I can cllaim ownership?
I have used strip pf land beside field for many years, it is enclosed within my land, now claimed to be owned by another although never used by them. What process do I need to go through to claim ...


 Can my landlord put my things out?
ok my landlord gave me a 5 days notice ,i haven't paid rent since march and the notice says if i don't pay before 5/31 my possessions will be terminated. but she delieverd the paper her ...


 Moving in a couple of years time, reccomendations please..?
Me and my partner want to move out of Coventry (pretty self explanatory lol ), but want to be by the beach instead , were hoping to pay about £300 - about £500 really stretching it , 2 bedrooms and ...


 My parents are buying real estate in both their names but cant be there to sign for the closing?
Can they both give a power of attorney to one person and have that person sign for both of them?...


 I would like to purchase a home with my stepbrother but I am married.?
My husband is in the process of foreclosure ( i am not on the loan) I work full time as does my step brother credit is not that bad combined annual income in 90k the only debt that i have is a ...


 I have six months left on my lease, when can I start looking to buy a home?
I talk with my landlord about breaking the lease to buy a home closer to work. She told me that I will have to pay for the remainder of months, which is $875. So pretty much i will have to wait it ...


 How many days/months must you give your landlord before moveing out?
I want to move out due to things wrong with the apartment (to small, basment) how long do I have to let my landlord know?
Additional Details
My landlord never gave me a copy of the ...


 100% Mortgages?
100% Mortgages, 95% Mortgages, can I get one?...


 How much is the avarage utilities for a 6 person household?
And one person(renter) pays 25 persent of all utilities. Where can I find out information of all utilities billsfrom the last 6 month for residential housing in Wahsington State?...


 How can My family Avoid foreclosure?
My credit score has only gone up to 665 in almost a year and im having difficulty making the current morgage. Advice any1? programs to help? government help? any help?...



Berlin Doll
I bought a house not knowing it would be a money pit, need advice...?
I got a no money down loan w/ a low fixed interest rate on what I thought was a decent house. I planned to replace the wood siding this year as it is starting to rot from previous owners' neglect. Instead, there ended up being a small crack in the foundation which led to mold spreading throughout the finished basement, so I have been spending my weekends removing the mold which means I will have to unfinish & refinish the basement. The water softener went out. The water heater, windows and garage door are original & will need replacing. I need to landscape the yard to slope away from the house. There's a lot more I found out. I live paycheck to paycheck and have no equity in the house for 4 more years. With the housing market crash, it appears I'll owe tens of thousands of dollars whether I sell or foreclose. I can't afford another loan. Any suggestions?
Additional Details
I had two inspections: the lender did an inspection, plus I hired a professional inspection firm on my own. Neither found any serious problems other than a rotted windowsill, the deck was not attached right and the kitchen faucet was leaky. There was no sign of mold and previous owner documented no history of water intrusion or mold.
                     
 




plan_ner
Rating
From reading your question, I do not get that you dislike the house nor that you are not able to afford the mortgage. I am reading that there is more deferred maintenance and repairs that your anticipated or care to tackle.

First, welcome to home ownership and congrats.

The list you provided is not too uncommon for older houses. While there is a lot of repair issues to tackle the upside is older homes were often constructed with better materials and workmanship.

Second...other have provided good advice. Rule of thumb is to prioritize the repairs. Top priority is to repair things that will lead to more damage. Water is the most damaging element and keeping water out of places it does not belong is your top priority. The rest of the things you noted are less critical and can be tackled one at a time as funds allow.

Third...Again many good advice already given. Use your sweat equity. You can go to the library to check out home improvement books and practice. You will be surprised how easy some repairs are once you gain the knowledge and confidence to try it yourself. Another source for info is the home depot's/Lowe's in your area. They regularly hold seminars that will let you try it and teach you how to do many things.

Good luck. Its really not as bad as you think it is. Just seems overwhelming but you can do it.


a c
Rating
Ok, i suggest don't think about getting the whole house done up, get the most vital an important work down first. So get the what needs to be done, done and the rest will have to wait.


good guy
Rating
you've already gotten some good advive from the previous answerers, but the situation you describe is not entirely hopeless...take care of immediate concerns first (the mold and the water situation around the house) and save the unimportant stuff for later (finishing the basement, water softener)...then be prepared to stay where you are indefinitely, doing what you can afford to do--all these things have already been suggested....of course, you can TRY to sell, but good luck in today's market...one thing not mentioned: if you have an extra bedroom, consider a renter/roommate to increase your monthly income, as well as a second job...bottom line: if you can afford to keep the house, do so. And be assurred, the housing market will rebound, maybe not for a few years, but it will, eventually it will--and all the corrections you make now will reward you in a few years. Good luck!


Doctor Deth
Rating
you should had a home inspection before you bought - for $300, you would have found all those problems out, and if you live paycheck to paycheck, you really shouldn;t have been thinking about buying a house in the first place - everything is more expensive with a house than an apartment


Real Estate Guy
sell it


Craig H
Rating
It sounds like you're in a bad situation. The best thing you can do is try to limit your losses - find out which is the least bad/costly option. You'll have to figure out whether or not it would be better to sell now, or somehow try to keep it and continue making payments, on your loan. You said the loan was fixed rate, so unless your circumstances have changed considerably (e.g. you suddenly have a lot of new expenses that really can't be avoided) it may be better to just live with the house's problems, and put off making any major modifications to the house in the immediate future (unless not doing so would make the place unlivable). You can always sell later when the market has improved.

However, the last thing you want to do is foreclose, as it will affect you credit rating, you will lose control of the house, and the bank may end up selling the place for far less than you would have - avoid this option if at all possible!


Rachel
Try to spread out the spending the best you can. For example, you do not need to refinish the basement, just get the mold taken care of (should be done by a professional) and leave the basement unfinished. The grading of the yard is important, so that can't wait - but why do you need water softener? We don't have that, maybe your water is different, but if it is just a preference, hold off on that expense. If the garage door is busted, park in the street. Put plastic sheeting on any drafty windows that can't be replaced. It might not feel like you are living in heaven for a few years while you are working through these issues - but it will get better! For now, look for a credit card that offers a zero percent introductory rate for the longest period you can find - but make sure that you pay off all of the charges before the introductory period is over or you will be hit with very high interest!
Finally - get a second job. I know...not ideal, but it would really help.


Mark My Word
Start with regrading the soil around the house. Transplant whatever you are able to. This should not cost anything but a lot of sweat equity. Then tackle the mold. This will be difficult but not too expensive if you do it yourself. You'll have to refinish the basement to get back to a live-able point, but you don't have to fix the water softener, you can live without it. Forget the windows and doors. They'll last 5 more years. Keep the house because you will need a place to stay anyway. Don't fix what's not broke and tuff it out. Things always turn around in these conditions.


Alterfemego
Rating
I take it you didn't have an inspection before purchasing? Did your Realtor provide that option for you?

In most cases like this, you lose. You should have been advised by your Realtor to get an inspection. If you turned it down, you will most likely not have a court case. If you weren't told about the option of having an inspection, you might have some grounds for recourse.

If you try to sell it now, you have material facts about the property you will be required by law to disclose.

Sounds like you will be one of those in over your head with no out of pocket investment and the rest of us chumps will end up paying for your lack of education.


BUBBLES
Rating
Fix the stuff yourself or sell the house as is.
Mold is an easy fix- spray it, seal it and paint it- should cost more then $50.00 for the whole thing.
Replace the siding yourself- read a library book on it- it's pretty easy.
You don't need a water softern.
Waterheater is only a couple hundred bucks.
Windows and garage- unless they are busted up or broken- it doesn't matter how old they are- things from the 1800s still work as long as they don't leak. And cauking and broken glass is easy to fix youself.

You have two choices- fix the house yourself and only fix what HAS to be fixed. Or sell it and move to an apartment where you don't have to fix anything but are going to pay lots of rent.

Fixing your yard is free- get a shovel.


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