 Who is responsible for a fraudulent appraisal? |
| Our mortgage was approved based on a fraudulent appraisal. We signed the note believing we had 50 thousand in equity, now we find out that we actually owe more on the home than it is worth. Does ... |
|
 Council have said they are considering us for a house - does that mean we have got it? |
| We are seriously overcrowded and are 5th on the housing list in our area. We have been told we are being 'considered' for a house nearby which we have shown would be a perfect size and ... |
|
 Do you pay property taxes on a highrise condo? |
| I'm looking at a highrise condo for sale in a building downtown that has about 200 other condos inside. In addition to whatever the mortgage on the highrise ($320k) would be there is also a $900 ... |
|
 My landlord wants to pay me to break the lease on my apartment, how much should I ask for? |
| I am currently more than half way through a 2 year lease (I have until April) on a $995/month apartment. I have been complaining to the Health Department about a lack of sufficient heat. Now, my ... |
|
 Should i pay for it ??? |
| just rented out my apartment in spain for 6 months to an english guy - he wants me to install sky tv and he pays the monthly viewing charge. it will cost me about £290 . would you pay for it ??... |
|
 I am entitle to housing benefit? |
| I am just about to get separated from my husband, and will have to rent.Will I be entitle to some housing benefit as my earnings 16,000 p/a and I have 17 year son who is in full time education,... |
|
 30 Year Fixed @ 6.5% Good Deal? |
| 30% Fixed @ 6.5% for 95% single loan of 251,145 w/ PMI. average score is 750. Locked two weeks ago. Is this a good deal or bad deal.... |
|
 Will the landlord pick us to rent his house? |
| well he acted like he liked us and all, and i gave him my landlords phone number and me and my current landlord get along well so i asked my landlord if the new landlord called him yet and he said no.... |
|
 Does this sound like a false ad?? I emailed this lady about a house off craigs list..? |
Dear,
Thanks for your email and interest in my house. I am Mrs. Helen Grant the owner of the House you are interested in. My House is located at Cincinnati OH. Presently am in M... |
|
 I have just made an offer on a home and they accepted. So I go sign the contract tomorrow.? |
| When they ran my credit for the pre-approval my credit was okay. So I go sign all the papers for the house tomorrow. My question is before I close on the house will they check my credit again? B... |
|
 Where can i find really good apartment/house for rent classifieds in MAINE? |
| I live in Bath,Maine and want to stay close to Bath so i need help,we need a bigger place and i was wondering where i could find a good site to find listings for apartments and houses for rent other ... |
|
 My home is blackballed by the previous real estate agent who owned my home,no one will show it-how can I sell? |
| I bought this home from a previous real estate agent who had committed fraud when she sold me the home. She was concerned that I would tell the people in the community that she was a deceitful ... |
|
 Renting a property with inadequate ventilation, is the landlord responsible? |
| The Landlord refuses to fix a skylight that is leaking and which cannot be opened above the kitchen. There is no window or ventilation in the Bathroom and she will not provide anything there either. ... |
|
 Can a buyer back out of the sale of my home after signing a sales contract and giving earnest deposit? |
| It's been almost 6 1/2 weeks since the buyer signed the sales contract and given the earnest money deposit in escrow and still no inspection date is set nor is an appraisal is ordered by their ... |
|
 18 and ready to move out! Help please...? |
Hello!
I am finally ready to move out of my parents house.
But I'm unsure of exactly where I want to move to.
I have ideas in mind about the kind of place I want to live in, and I&... |
|
 Is this a rental scam on landlords part? |
| When my 18 year old son was approved to rent a very nice home with no credit I was skeptical. 1200.00 a month year lease with 1st last and a 1000.00 damage deposit. He was unable to pay this months ... |
|
 I'm living in a duplex with four roommates. They eat, and use anything thats mine. How can I break this lease? |
Oh, my room also doesn't have a window. Does this help on getting out of a lease easier? Please help, I'm desperate!
Additional Details
Thanks for all the answers! My lease isn&... |
|
|  |
City Dude | If I get a mortgage for $100,000, then purchase a property for $60,000, what happens to the other $40,000? |
Does that become extra money for me to do what I want with like fix up the property? |
 |
 
Bullwinkle Moose
 |
You won't get a mortgage for more than the property is worth. |
|
Elsa D
 |
Mortgages are for specific properties, not jst some money they are going to hand over to you. If the property costs 60k then you get 60k if you are stupid. If you are smart you go conventional and take 48k and pay the rest out of your savings. |
|
Avignon_11
|
No lender would do that. They base their loans on the assessed value of the property. |
|
Big Deal Maker
|
If you could get a loan like that let me know where so i do it every day for a year.
Sorry the bank will not front 40k on a property of $60,000.
You can however if the property was worth more than that get a line of credit and fix the property up.
Best of luck |
|
Dan H
|
You will only get a first mortgage for the value of the property less your down payment plus your loan costs. There won't be any extra money.
If you have equity in the property after you get you mortgage, you might be eligible for a second mortgage and you can use that money for anything. |
|
Leprechaun of Jupiter
 |
bank wont due that they give u amount for home and they make sure that its not over priced so they can foeclose if u default |
|
Goonhilda
 |
You can't do that. Most lenders will lend you a set amount based on the value of the property. My recommendation would be to save a little more of a deposit, and then when you get the loan, put that extra onto the loan straight away so that you are effectively paying less interest. This will get you ahead, and if you have a redraw facility, you can keep that money in the loan in case you need a new cheap secondhand car, or you lose your job, or get sick, or need a new hot water system
That's what I did. I kept a little money aside, and then put it back in, effectively reducing the amount I owe, but still making the original repayments based on the amount I borrowed. I'm now 2 years ahead on my homeloan, and I've only had the house ten months. |
|
hollywoodmelody
|
You will not be able to get a loan for more than what the property appraises for. If you get a 203K loan, you will receive money for repairs but must track every dime spent and you could get in alot of trouble if you try anything else. |
|
chocolate_boywonda
 |
You should check with your loan rep. Usually when you get a purchase loan, the loan amount is based on the value of the property, so if it's worth/selling for $60k, they will only give you $60k (plus closing costs, maybe). It sounds like a refi & if it is, the extra money is yours to spend how wish, unless the refi has specific debts that need to be paid off |
|
Rick B
|
You can't get a $100K mortgage on a $60K house. The house has to appraise out at the value of the loan or greater. |
|
Shai
|
invest like 1000 to something iono what or just bank it, or.... rebuild that property and rent it out and collect the pay afterwards |
|
Hailey M
|
You put it in your bank account... |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 17 minutes(s) ago
| | | |
12 | 51 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 3 hour(s) ago
| | | |
11 | 5 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
12 | 1 day(s) ago
| | | |
12 | 4 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
