 Landlord/tenant How do I throw her out? in Florida? |
| I own a house and helped someone out, and let her stay in a spare room. I dont live in that house, I have another house. I need to get this women out. Since she moved in there are roaches in my house ... |
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 What can you do with empty land? |
| I bought 7 acres of land, beautiful country mountain land with several nice home sites, bordered on two sides by national forest. I do not live in the area yet and I'm looking for ideas to ... |
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 Is it illegal for my real estate agent to force me to use his lender instead of builder's lender? |
| Trying to buy a townhome in Orlando. Realtor is almost refusing to show me new townhomes because he says I would have to go through the builder's lender and I don't have good enough credit.... |
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| Let's say I sell my house for 150,000 - but still owe 160,000. Do I have to pay that 10,000 right away? Can I roll it into my next mortgage?... |
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 Can you get out of an oral offer to purchase home? |
| I'll try to make this short. We do not have an agent, seller does have an agent. His contract with his agent expires in 2 months. We orally offered "X", seller accepted, and we ... |
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| As far as disclosures goes, would you not say anything or just disclose "buyer is related to agent" in the purchase contract?... |
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 Rental with no security deposit. Left in clean condition, but landlord finicky wants money. What's the redress |
Rental with no security deposit. Left in clean condition, but landlord finicky wants money. What's the redress.
Landlord is saying it is not clean here and clean there. I pressured ... |
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 Should I sell my home or ask agent to sell it? |
| The 5 % agent commission is quit a lot in which I have to pay $11,000 for a $222,000 home.... |
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| My landlord is trying to come into my property. She did give me a 24 hour notice for a day That i won't be here. If I refuse what will happen?... |
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| I work with a real estate agent who gets his listings from law offices and banks. How do you do it?... |
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| Any tips for cold calling apartment dwellers asking if they're buying a home in the next year? |
| I cold call apartments in the evenings seeking anyone thinking about buying a home in the next year. They generally don't mind the call, I'm not trying to sell them a vacuum or life ... |
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| I dont want to build a conventional office, hotel etc the usual stufff.....Any ideas somebody? I want what would be easily fnanced by the B... |
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 Question about subprime lending.? |
| I have a question for lenders. I keep reading about all of the issues with subprime lending and foreclosures. I hear that it will be harder to get a mortgage and interest rates will be higher for ... |
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 If a house is bought while single, then one gets married, if house is sold, will spouse be entitled to profit? |
| I purchased a home when I was single, got married, never changed deed over to married name or added spouse to the deed. If the home is sold, does my spouse have legal rights to the proceeds?... |
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 What's a buyers realtor do for the buyer when the house is being sold without a realtor? |
| We found a house we want to purchase. The house is listed for sale by the owners. The gf is wanting to use a realtor to help with the purchase of the house. what exactly would they do? we are ... |
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 Is it pointless to put extra money towards mortgage if planning to move in the next year or two? |
| My husband and I are planning to move soon. I say that extra payments at this point are akin to putting money under the mattress. He thinks we will get more than we put in when we sell. We ... |
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ideame | I have been hearin that mortgage companies have really tightened their grip? |
with approving mortgages,,,,even people with excellent credit and have ability to pay are being denied,,,,anyone professional that knows if this is true and why this is happening, |
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rlloydevans
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The lending market for people with good credit is not effected in any meaningful way. If you have a good income and job history, a good debt-to-income ratio and decent credit (680 and above) you have no problem getting approved for a mortgage.
Where it has tightened up and become difficult are those people who don't fall within the above categories, those considered ALT-A (Good credit but some other issues) and SubPrime (Credit, debt-to-income and history issues) are fionding it almost impossible to be approved for loans at this time.
It is because mortgage brokers in 2004-2007 were competing with themselves to "originate" loans. They would make loans to borrowers, then bundle scores or hundreds of these loans into "Mortgage Backed Securities" and sell them to investors on wall street. The brokers didn't make money on any interest off the loans- but on origination fees when they were initially made. They sold the loans to the investors then reinvested the money back into new loans over and over again, pocketing the origination fees each time.
More lending companies started to see how profitable this was, so they began competing with each other to make more loans, again for the origination fees. They started loosening up their standards, approving borrowers on more creative loans that were getting more and more risky. Finally, earlier this year the institutional investors began to realize how dangerous these loans were becoming, and stopped buying the securities.
Stuck with no one to buy these securities, the lenders no longer have any money to loan to ALT-A or SubPrime borrowers. |
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Paul H
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Whether on not an individual is able to secure a mortgage is dependant upon a couple key factors; such as income, employment, lenth of employment, assets, credit hitory, credit scores and the type of property you wish to finance.
If a borrower has a solid employment history, assets and great credit, then there should be NO PROBLEM securing a mortgage. Many lenders have tightened there lending guidelines or requirements but this is mostly affecting poeple who would be considered (based on the key factors) not eligable and require sub prime (below 620 score, stated income) or Alt A loan (620 to 680 scores) products. |
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Belle
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This morning on Good Morning America they had a segment that expained it all. Try going to their web site. The mortgage companies are getting more strict but they are aslo trying to help more for people who are looking at foreclosures. |
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mazziatplay
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Yes the investors have tightened their guidelines but borrowers with good credit and who can document their income and the source of the necessary to close the loan can take their choice of lenders.
The credit challenged and those who cannot document either the income necessary to qualify or sufficient funds to close from an allowable source are a different story.
Lending is a risk based industry. The undocumented items represent additional risk and, if available, carry often much higher interest rates and down payments to reduce the perception of risk. |
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ashantisimms
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Well, that is not necessarily true. People do tend to overexaggerate the problems...but the housing crisis does have the potential to become even more serious.
What is happening is that people with borderline or subprime credit are finding it to be even harder to be approved for a home loan. Why is this? Because lending companies had gotten in the habit of offering loan packages to so many individuals with subprime credit and wound up loosing money. These same people would renege on the loan, which means more money lost for both the lending company and the bank.
It's just a mess! Here's a link to a CNN article that explains the situation, and what Bush is planning to do with it (ha, what a joke) |
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redwine
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yes much tighter underwriting standards. Excellent credit will still get done, just may take a little longer. Jumbo mortgages are a bit problematic, but again, if good credit, it should only take longer, rather than not getting done. |
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dkarlsenyh
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I'm not a mortgage loan officer, but that simply couldn't be true. If you have "excellent credit", and "ability to pay", then you shouldn't have any problem getting a house loan. |
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thejeantets
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Your comment is not completely accurate. Someone applying for a loan with excellent credit rating and stable employment will most likely be considered a "prime" borrower and several loan options will be available for this individual. It's the "sub-prime" borrowers that are having a hard time getting a loan. Sub meaning less than prime would indicate that this borrower does not have good credit and may not have the income level necessary to get a loan. Lenders have tightened their lending criteria so it's even harder today to qualify for a loan. You need to talk to a loan consultant, it's free and they'll provide you with a lot of great information on borrowing. |
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pearlmel
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the sources many brokers go to are no longer around so not only are there less lender some 50+ have gone bankrupt but the lenders are now tightening as far as someone with real good credit 700 or better there are still sources out there for them. its the guy with a 630 score trying to buy a home that has trouble!
refinancing current borrowers has loosened by a almost indiscribable amount but the government has losened its guidelines to allow lenders to help them
mortgage banker.
www.directlendingplanet.com |
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