 Mortgage payment? |
If I bought a 200K home and the seller agrees to
sell it for say 180K and put 70K down payment(70K
is cash on hand) could I get a total mortgage payment for under $700.00 per month.Also My<... |
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 Ever heard of a grant to fix up your house? |
I bought a fixer upper and want to know if there are any programs out there that help
with fixing them up. I heard that there were
but I dont remember the exacts....Any info would be ... |
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 I have 6 months left on my lease but I want to get out of it. Any advice as to how I can do this? |
| I also want to be sure that I dont encounter any legal issues and Im hoping to get my last month deposit back....... |
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 Tenants rights? Do I have any? |
| We live in a ground floor flat of an old house which is all single glazed. We are spending £40 a week in Gas (which we simply cannot afford) and we have 2 small children (1 & 2 yrs) who shiver ... |
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 How do you get into rental properties with no money down? |
| I'm trying to get into real estate as a landlord in the Houston area. I have no down payment, but excellent credit. Thanks in advance for your help.... |
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 Landlord wants us out? |
IN NY state.
About 8/7/07, we made a deposit for a rental home with the remaining to be paid Sept 1/07 at which time we would have drawn up the lease . LL give us the keys and told us that we ... |
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 Who do you blame for the sub-prime mortgage crisis? |
| Who is the most to blame for the sub-prime mortgage crisis in America? Do you blame the predatary lenders, irresponsible borrowers, bad economy in certain places, or people who borrowed with ... |
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 Own 2 houses and need to walk away from 2nd one.? |
| Buyer for my 1st house backed out and i cannot do both mortgages. if I move back to 1st house and forclose on 2nd will i lose both even if i have homestead protection on 1st when i move back in. F... |
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 Whens the best time to sell? |
| I bought my home last year for 95,000 for a 3 bed terraced. It needs a bit of work such as double glazing, ect but was still a bargain.The area isnt the best. Is it best to wait, are prices coming ... |
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 How could I find out if I my neighborhood allows me to rent out my house? |
| Hi all - I am considering moving out of my house and renting it out so I can buy another place. However, my house is in an upper class, somewhat exclusive area and I am worried that rentals may be ... |
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 Does a house go up in value faster and higher than a condo? |
| I am considering buying a triplex or a condo. Which is a better investment? From my perspective, the condo is simpler and easier to maintain, but is small. The house is bigger and has more ... |
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 Can I lose my home if my renters do not pay? |
| I have a home which was occupied with renters. They have stopped making payments to me so I fell behind $10K on my mortgage. I've evicted them and now I am facing foreclosure. I have not ... |
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 Is it really too presumptious for me to think I'm going to qualify for a home loan? |
| We recently moved into our dream home and the owner was willing to lease to us until we were ready to buy. Things have changed however; and he's pushing us to buy NOW. My husband and I have both ... |
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 Can my landlord move in to the building I am renting from without telling me? |
| I am currently renting the first floor of a house, and another gentleman is renting the second floor. I have noticed recently that our landlord's vehicle (and her girlfriend's) have been ... |
|
 Which mortgage companies will lend 5 times my wage or more? |
I'm in the uk
Additional Details
I'm already paying out the amount i would be repaying on a mortgage 5 times my salary, on an existing mortgage and loans. Equity in my current ... |
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 House repossession? |
| hi, just wondering (on behalf of someone else) if you have a house repo'd and when the mortgage company sell it on and fail to get enough to cover the debt, how many years is the previous owner ... |
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bachlover | I have been "nice" to renters, but now they havent paid for 4 months, what would you do? I am new to this game |
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 |
 
pep
|
Renting a house is a business....it's not a time to try and make friends. As soon as you do this, some people think that they can take advantage. 4 months is too much time....shame on you. However, to redeem yourself, give your renters an ultimatum. Tell them they have until such and such date to pay the current month or you need to take action. Owners can be "nice" by responding quickly to a fix-it project in the house, letting them change the color of paint (since by law you have to repaint each time you rent to new people), etc. Being "nice" is not letting people run over you by not paying. |
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Joker 1
 |
That process should have been spelled out in the contract. You need to go to court and start the eviction process. |
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Jelly
 |
Evict. Next time make sure the contract is clear about
how late you will accept payments before taking action |
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allhailkirby
 |
Evict them. You might ask the police for advice. |
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Eric V
|
Each state will have different laws, but you should give them a 30 days notice to pay in full, and then take them to court. Some states allow people to "squat" for long periods of time, others only 30 days.
When the day comes for you to evict them, have the police there on the day you remove them.
Then immediately change all the locks.
Good luck,
Eric |
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.:MELI:.
|
It should have had them thrown out in month 2!!! Get the freeloaders OUT!!! |
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cars4purchase
 |
You're probably too late already....why be nice to a renter? Especially if you don't know them (which by the way, never rent to someone you know). It's purely a business. Make sure you find out what the correct notification process and procedures are under your state and local ordinances and get them out. With your next set of renters, lay down the law from the start, set the expectations, and FOLLOW THROUGH. Most renters are renters for a reason, if they were stable they would buy a place of their own. My strategy was to offer a 5% rate reduction for paying before the 1st of the month (due date), then they were considered delinquent if not paid by the 10th (unfortunately where I was I couldn't ever figure out if I could get away with charging a late fee under the local laws), and then they could pay within the month to stay current. After the month was over they had until the delinquent day (the 10th) to pay both the current month and delinquent month in full or they were out by the 15th. Then you have two weeks to get the property ready to rent again assuming you didn't rent the place out to completely wretched people who trash the place. Assuming you have your one month minimum deposit, you've only left yourself missing one months rental income plus the time it may take to find that next acceptable renter. Let future renters know the rules up front and stick to them. Let them know it is a business and nothing more. You have no desire to be their friend....I don't care if money is tight because their adopted child died (I'm being a little drastic with my example) and they have burial expenses. There is no room for sympathy in the rental business. If you ran a construction company and a worker called in sick for 4 months, would you keep him on your staff and continue to pay to keep his medical and dental benefits current? No, of course not, you'd fire him. Fire the renters, it's nothing personal, it's business. Never get to know your renters, period. |
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juntariman
|
Each country has its own unique rent control law or any such regulation. Check if it does exist in your place.
The rent control law mandates the rentor and the rentee to enter into a contract which would stipulate the conditions in renting the space.
In my country (Philippines), the Rent Control Law allows the collection of two-month advance rent pay and a month deposit.
If ever the rentee fails to pay after the third month, the rentor has all the rights to ask his or her rentee to leave.
A contract is a must in the rent-lease business. |
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kattz
 |
if there has been no effort to pay the rent in 4 months you have no choice but to start the eviction process and your tenants should expect no less. the reason you rent is to get paid rent and though iif i was in your shoes depending on the situation i would be understanding but that really shouldnt go past the 2nd month of no payment. |
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Meadowlark
|
If you're going to be in this business you are going to have to toughen up a bit. People will do their best to take advantage of you. Sounds like youre going to have to evict them. I used to do handle the eviction process myself but now use a lawyer. Last time he charged me about $250 for the whole process, not bad. You can find one probably in your area that handles evictions. Usually a firm will have a young kid just out of law school that just handles this kind of thing. He makes his money in bulk, he might do 12 evictions at once. That kind of thing.
My advice is to go this route. I don't know how things are where you are but in Milwaukee the courts are very liberal and seem to side with the tenant. The simplest error in eviction process can cost you a month. For instance, I was doing an eviction once and sent the 5 days (pay or quit) notice one day late and my eviction was thrown out for another month.
If you don't have the ability right now to pay for a lawyer then do it yourself but take it slow and make sure you do everything right. Law is very specific.
Good luck. Landlording is not always much fun but can be very rewarding financially in the long run. |
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volunteerjim
|
It's time for them to step up to the plate and pay or find a new place to live.
In Tennessee here's how the eviction process works.
First send them a certified letter giving them 5 days, 10 days, or whatever to pay up or move.
If they don't respond (with some cash or your doorkeys) in 30 days you can go to the clerk of the general sessions court and file a detainer warrant. Sheriff's office serves the warrant summons them to court.
If you win they have 10 day to vacate.
If they're still there after the 10 day period you can go back to the court clerk and get a writ of possession. The judge signs it, sends it over to the sheriff, and they serve it telling your tenants that day is moving day. You can have laborers set their stuff out of your house onto the street while the deputies stand by to keep order.
I've also offered a couple of deadbeat tenants money to move out, i.e. "I'll give you $500 cash if you'll move in the next two weeks." Faster and easier than going to court and making house payments while you wait for the wheels of justice to grind. |
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paul
|
I have owned my house for 3 years now and i have 2 people i rent seperate rooms to. Here is my advice: Do not become friends with them ever. Tell them if you dont pay you cant stay. Tell them you will are going to change the locks and start moving their stuff out in 3 days.(I have done this and on the third day i walked in ready to move their stuff out and they were standing there with the money :) Charge a late fee $30 plus $5 for every day after they are late (do not let them slide, even if it's $1000). Make them sign a contract WITH A DEPOSIT. Make the contract in your favor. |
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