 Is it possible to sell your home for less than what you owe? |
| Say your home is worth 300,000 but you can only sell it for 270,000. Is it possible to buy another home for 290,000 and put the 30,000 owed on the first loan on the second?... |
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 FHA I am SOOOO lost!? |
| I would really appreciate some insight here. My Fiance and I contacted Wells Fargo to obtain a mortgage for 70,000 for a home we are looking to purchase. The mortgage guy I talked to said we should ... |
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 House in Wife's name only,if she should die... what happens? |
My wife & I bought a house 1&1/2 yrs. ago. Since my credit rating was shot,the title only has her name on it (Bank too).
If God forbid she should die what would happen.( I live in P... |
|
 Is it legal for my landlord to not allow air conditioning units? |
| my neighbors had air conditioining units installed in their window... so i assumed they were okay.. my apartment is really stuffy and still (no air flow), but it was 100+ for a week or so, i finally ... |
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 I made a mistake and overpaid my last month's mortgage by $100...? |
| Can I take that out of my next month's mortgage? Or can you not do that? I know it's only a hundred bucks but I'm trying to save money really badly.... |
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 Will Louise ever move into her house? |
| Louise has had an offer accepted for a house and has been waiting to move in for about 6 months, will she ever get to move in?... |
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 How much would i pay a month if my rent is 575 plus utilites? |
im planing to move i make about 2000 a month and i have a cellphone bill which is 80.00 and a car payment which is 500.00
will i be able to move on my own?... |
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 30 day notice to stop rent? |
| What would be the best way to write out a 30 day notice indicating I'm planning on moving.... |
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 Is it possible to get out of a lease early? |
| I have been leasing this apartment for three years and now im about to close on my new home. my lease ends in on nov 30th and I close in mid oct. when I informed my apartment they had me sign a 30 ... |
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 Is 25 dollars a week too much for supposed rent? |
| I want your opinion on this, for mine is most obvious. The person who is being billed this is an 18 year old, trying to balance her junior year in high school and a job at sonic, which she just got ... |
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 (UK) Can you afford to buy a house where you live? |
and do you mind me asking you where you live and what sort of work you do?
Thanks!... |
|
 SECURITY DEPOSIT question? |
| if a landlord holds back your SECURITY DEPOSIT because he claims that you damaged items in the apartment, can you fight it? is it worth it to fight it? what are your chances of winning? what do you ... |
|
 What does "o.n.o" mean? |
Hi All,
just a quick question.... In adverts for property to rent, what does "o.n.o" mean?... |
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hogsriver2 | If i let my home go into foreclosure can i buy another home ? |
can i buy a home while im in a home thats going into foreclosure but still modifying my existing home and get a good deal on my new home that i can afford with bad credit and get a good rate? |
 |
 
Landlord
 |
They are pretty close to zero. Even if you did they would seize your new house and no judge would protect you. You can not keep the money you were given by the bank if you have means to repay it. |
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Real Estate Guy
 |
WTF. No. Dead beat. |
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estielmo
|
yes, in your next lifetime!!! |
|
I Buy And Sell Houses
|
No.
N-O.
You won't be able to buy a new home at any rate if you're currently heading to foreclosure in your present home. And any lender would be an absolute fool to lend money to someone who's defaulting on a current loan. Past performance is a good indicator of future performance.
Try selling your home via a short sale. It's not as bad as a foreclosure, and you might be able to buy something else in a few years. Failing that, try a deed in lieu of foreclosure. Again, it's not good for your credit, but not as bad as an outright foreclosure.
In any case, you're probably looking at 2-7 years before you can buy another home. |
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Alterfemego
 |
The chances are slim. You need to qualify for a new loan. And when they check your credit, it will show you are in default on your current mortgage. If you let them foreclose, it could be several years before you can buy again. |
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RM
|
Foreclosure means you stopped making payments on the house. Why would anyone in their right mind give you ANOTHER mortgage when you're currently proving that you are unable to pay your monthly payment (which by the way, you legally signed the papers to do for the next however many years)? If you can afford another house, PAY THE ONE YOU HAVE NOW!
Thanks for screwing up my stock investments and my 401(k) because you're an idiot who doesn't want to pay their mortgage anymore. |
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Pengy
|
Well if you about to go into foreclosure that means you are at least 90 days late, oops already destroyed your credit, then if you cannot afford the one mortgage do you honestly think you will be approved for the second? With bad credit do you have 20% down? and if so then why are you late on your first? Nice try trying to work the system but not going to happen. |
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chatsplas
|
Not likely--those days are gone.
VERY difficult for you to get a loan with bad credit, no money down doesn't exist, either. For 2-7 years, difficult to get a new mortgage, and you certainly won't get a good rate.
SUGGEST you talk to HUD accredited credit counselors, HUD Hope for Homes, and your lender to see what your options are. Solve the problem you're in now, because you won't have the chance to be a home owner for some time.
WORK on improving your credit rating, SAVE money for a down payment, and in some years you might qualify, but that means perseverance and learning from your past mistakes, NOT repeating them. |
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mbrcatz
|
If you have cash to buy the new home, yes.
If you go into foreclosure, though, you're not going to find any lender - besides mom and dad - to finance another house for you for quite a while, at least until you clean up some of the mess. |
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