 Can 2 people each get their own mortgage to buy the same house if they are both living in it? |
| ok so 2 people live in a house they rent, the landlord gives an offer for us to buy it, but we want our own mortgages ect. can these 2 people each get there own seperate mortgage for the house and ... |
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 Mortgages........? |
| Does anyone know of any mortgage companies who will lend 4-5 times salary? We are not first time buyers but are struggling to get a bigger ... |
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 What are some good real estate websites to browse pics of properties? |
| Totally new to the real estate game. I can't seem to do an effective search in Google to get me good sites.... |
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 Home Foreclosure? |
My house is being foreclosed on. Will I still owe money?
Can I sell the house.... |
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 Planning on buying a house advice is needed.? |
| And I need all the advise I can get as far as all the extra fees that they chage when processing all the paperwork. My husband and I are a young couple and I am afraid that they'll try to screw ... |
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 Went ot jail and got evicted? |
| I went to jail for one month and when I got out, my landlord changed the locks and kept all my belongings inside the house. Everything. He did not evict me through the court system just a 3 day ... |
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| What kind of notice does a landlord have to give before coming to your house? |
Additional Details
how many hours before coming over? my landlord wants to have an appraiser come over tomorrow. i thought they were supposed to give 48 hour notice?... |
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 Sell remortgage or rent?/???? |
have a house which we have completly renovated!had i valued and made48% equity!!
the dilema is that things went a little wrong a while ago and now our credit rating is poor although we ... |
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 Closing But No Keys? |
| I closed on the house I'm buying this morning, but the title did not give me the keys to the house because the lender had not wired the money to the title company. I called my loan officer and ... |
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 I am trying to sell my house, but the neighbors are horrible. Their house is a dump,People see it and leave.? |
| the neighbors houses are dumps. there is trash everywhere, old junk cars, ect. I had over 50 people come and look at my house, and they all loved it, then looked next door, asked if people really ... |
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 How can I find out who owned my home previously? |
| My husband and I feel like our home may be haunted. I know it is against the law to withold any information reguarding murders when buying a home. How can I found out if something may have heppened ... |
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 Mortgage or Home Equity Loan? |
| My maternal granparents just moved out of a house that belongs to my dad. He is now going to give us the house. We have about $60,000 we want to spend on paying off some bills and remodeling the ... |
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 Mortgage held by Mom. Mom dies. House deed in mom's name and mine. Who owes on remainder of mortgage? |
| The deed is in two names but the mortgage was only in the deceased's name. Who does the bank go after to repay the reminder of the debt. Does the debt go away? What if the deceased was poor ... |
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 By law, what can a landlord charge for a pet security deposit? |
| Is there a max? I live in RI. I can't find any information on this. I have even talked to a lawyer in this area who can't quite seem to find a definite answer. Thanks.... |
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 What to do about home offer not responded to? |
Here is my problem:
I put an offer in on a home last week Wednesday (August.29,2007), Finally on Friday, August.31,2007 the listing agent faxed a letter to my agaent stating that the home ... |
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 Charges for carpet after walkthru was completed and signed off.? |
| There was some damage in the bath and it was noted in my move out. She said she was going to get her carpet guy to quote it for repair. (I had the carpets cleaned the day before my final walkthru). N... |
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 Loan or remortgage? |
My current mortgage deal is about to run out so I'm looking for a new deal to sign up to (for a freehold house in England).
However, at the same time I need to raise a whole bunch of ... |
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M.B | I need help! Pre-approved for home...but don't know if its the right time to buy!? |
I've been approved for a loan of $75k (not very much I know) but was convinced by Agent that I'd be able to find a really nice foreclosure home for that amount...still haven't. I'm wondering if I should just wait until I can qualify for a larger loan before buying, though I'd have to come up with 3% down payment ($2,100) if I wait too long.
Should I buy now while there's no down payment (before October 1st) and get the best house for the amount I qualify for, or should I wait until I pay my car off (in March09), which would put me at a loan for $125k (perfect for me, more options to chose/negotiate from) and save for the 3% down payment ($3,750 or less)?
Which is a smarter choice? |
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I Buy And Sell Houses
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I'm a Realtor and I agree 100% with Glenn: the downpayment assistance programs were and are really bad ideas. First, it's a legal "fiction" that the seller is making a donation to a nonprofit, and then the nonprofit donates to the buyer. It's just money laundering. Second, I'm concerned that such programs contribute to people buying more than they can afford. In your case, if you don't even have $2,100, for gosh sakes, don't buy.
Besides, you'd really have to rush to to get in under the September 30 deadline. And you'd be rushing for what? In order to buy a property for $75,000 when you acknowledge that a somewhat higher amount would be "perfect" for you?
Wait until you qualify for more. And wait until you have some cushion in savings--an absolute minimum of 3 months living expenses and, preferably, at least 6 months of living expenses.
Also, make sure your agent gives you a "good faith estimate" of your expenses. You'll be suprised to learn that they'll be more than just the 3%. There are plenty of other expenses large and small that you'll have to pay.
There will be plenty of bargains around after March 2009. Maybe more than there are today; there are still plenty of foreclosures to come. Wait. Build up your savings. Get qualified for more. Don't rush unnecessarily.
Hope that helps. |
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glenn
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OK this goes against most other real estate agents. I don't like the down payment assistance programs. I am glad they are going away even though that will cut into my business.
A buyer gets the seller to pay the down-payment as a "donation" to some "Charitable organization" and then that organization pays the down-payment for the buyer. The truth is that the seller would have sold you the house cheaper if they had not had to make that "donation" so in effect you rolled the down-payment into the loan- and often you also rolled the closing costs into the loan. If real estate values are not going up drastically then what is going to happen if you get transferred or whatever a year later? You will not be able to sell the house for enough to pay off your loan.
I think you should wait. But I think you should work very hard and get your money life in order very quickly, because houses will go up and interest rates will go up way before you realize it. |
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Marysue
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It wouldn’t make any sense to buy a house just because it’s in your budget. Wait and buy the home that you really want. You’ll be better off buying a home when you have less debt to worry about anyway.
I say hold off. And maybe look for a new agent if you feel like this one is pushing you in a direction you’re not comfortable with. There are plenty of agents out there who will guide you through the process instead of pushing you. |
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Sharon T
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You really shouldn't buy until you have saved whatever down payment you need plus at least two months' mortgage payments. Running on empty is part of why so many people are facing foreclosure.
It makes a lot of sense to pay off your car before you buy. More houses are going into foreclosure each month so prices aren't going to soar anytime soon. You probably have at least two years to make your purchase. Get the house you want as long as you can afford it. |
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gaza
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What is the interest rate?? Fixed or variable?
This is the most important aspect of buying a home. Is the home worth $75,000. 3% down payment will keep your payments high, which should be limited to 25% of your monthly income.
I'd wait. The market is in a spin, values will go down. A house is an investment. Be xcareful, make sure it is appraised and inspected.
Good Luck |
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src50
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If you can't come up with 3% on a $125K loan, you aren't ready to buy. |
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Mark C
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I would look and see what you can buy for $75k, if nothing is out there, wait and spend the extra $50k to find a better place.
If you do find a good place for 75k, make sure you have enough money each month to pay all the bills plus any repairs on the house.
My son bought a house for $30k in a good neighborhood in Rochester NY last year, it just got appraised for $45k after about $2k in repairs, plus he lived cheaper than rent. |
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infinite crisis 247
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if you are a first time homebuyer, i would stay away from foreclosure homes...especially in that price range. granted, this is very area specific, but here in jersey 75k is not much in the sense of a home and your choices will be very limited to either undesireable areas or properties that have serious problems. plus, as the home is FHA, you will have to pay for an FHA home inspection, which can be expensive. you will also have to pay for title search. 6 months is not long to wait, and do you want to settle for any old house just to get in for 75K? ever see the movie, "the money pit"? nuff said. i would wait till next year. also, your credit will improve during that time, which might qualify you for a better rate. |
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vivicabowles
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Wait, find what you want, and have the owners pay closing costs. |
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