 We are closing on a home on the 27th but so far the seller has not completed items in contract.? |
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 Is it a good time to buy a house? |
hi,
im 24 and coming close to buying my first house. i live in Andover, mn about 25 miles north of Minneapolis. Im lookin at buying a foreclosed house as a fixer upper. I probably wont live ... |
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 I have an adjustable rate mortgage. Stupid I know. If the time comes to reset how big of a change should I ex? |
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 Please help! tell me what you think about this crazy idea!? |
Your Question
Is this an absolute insane idea? what do you think?
Okay, so my mom has just gotten out of a divorce and doesnt have great credit, her house is in recievership and if it ... |
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I want to refinance my home for a 40 or 45 year mortgage. What are the avantages and disavantages of this type of mortgages?
T... |
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 Really need your help on buying a house.......? |
| My offer on a house has just been accepted for £91,500. Was orginally on market for £105,000 in Jan this year then was reduced to offers over £100,000. I have paid for Surveyor and Valuers fees ... |
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| My landlord really stinks when it comes to making repairs. I've reached my wits end and waiting for my lease to end in another 6 months. Gas company recently did test on gas lines in my area. My ... |
|
 My lanlord wants me to move out in exchange for money and is offering 5,000 dollars is that the most I can get |
Is there a way that I can get more money from my Lanlord.
Additional Details
He wants to move out because he is remodeling all the apartments and I want to know if there is a legal ... |
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coraclarkejohnson | I have 34 days to come up with $7,500.00. Any ideas??? |
I am looking for serious answers only. Yes, I do work, but this money need to come from additional sources. It is the closing costs i need for a new home i just purchased in PA. I can't apply for a loan and my lender does not use "bonded programs". I am on my own for this amount!! Again, only serious replies............Please!!!
Thanx a ton! |
 |
 
CJKatl
|
You will most likely not be able to use money you scavanged as the downpayment on a home.
You see, the lender is going to require proof of the money's origin if it has not been in your bank account for the entire period covering your last two bank statements. This is called seasoning. And if the money you need for closing costs is not seasoned, and the origin is not something that is "usual," like a tax refund, sale of car evidenced by a bill of sale, or a bonus from work, then the loan will not be approved.
In the past few months, lenders have started scrutinizing downpayment more closely. And, quite honestly, the lender will look at you as someone who entered into a major financial contract - purchasing a home - without the money to pay for the contract and think you are very financially irresponsible.
There are still many 103% loan products out there with competitive interest rates, including the Nehemiah program, FannieMae MyCommunity, and various state affordable housing options. Perhaps you would be best looking into one of those programs rather than trying to come up with money that you would likely be unable to use for the closing costs. |
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ZURDITA
 |
You have gone over your head ! |
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Glass
|
Wow, how in the heck did you get yourself into such a predicament?!? I doubt very seriously that you will be able to come with that kind of money, that quickly; and even if you did it's going to look suspicious on your part since it hasnt been sitting in your bank account the whole time. Sorry to be the rain cloud here, but you might want to think about looking at a smaller home, ((with a smaller downpayment)) OR buy all the lottery tickets you can possibly buy & pray Pray PRAY!!! |
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phillybusinesswoman
 |
It will be very difficult for you to come up with $7,500 in 34 days. Do you have a retirement account you've been contributing to at work? If you have it in there, use it. Does your lender allow you to receive a gift? If so, try to hitup a family member for it. But I agree with the other answers: if you're a month away from settlement and you don't have the money to close, you can't afford to buy the house. Be realistic. If you know that you can't do it, tell your agent now so you can sign a release and start shopping for something you can afford. By the way, didn't you know what your closing costs would be BEFORE you made the offer? |
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Dee
 |
Ask Oprah Winfrey or Donald Trump to help you with that, make them a partner in real estate.. heck I don't know.. all I can say is good luck with that.. too late now to say what you should have done prior to getting yourself in deep. |
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edgiee
 |
Try to sell stuff on ebay, people sell a lot of cheap stuff and sell it for more $ than its worth. |
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usacelticfcsupporter
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If you are able to pay it back over 24 months or so at about double of what a C.D's rates are(Certificate of Deposit) at the bank, which would be around 350 per month, you could try this out. Go to one of the major newspapers in you community and place a want ad for the money. Lay out your terms for repayment. Give your borrower a second on your mortgage and in your terms, have something stating the release of the lien after one year of on time payment. 7,500 is not a ton of money, and with little risk, im sure someone will want to make some money, and help you out. |
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drunkviking11
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Got a car? Sell it. Jewerly? Sell it.
So technically you didn't purchase the house you just have the contract? |
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Angel
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Try www.Prosper.com
Good luck! |
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