 Can only get a mortgage for about $82,000 should i get a mobile home? |
| i called countrywide re: mortgage and was told i dont make enough money to get a mortgage for a single family house.. that all i could qualify for is about $82.500 even tho i do have a gd piece of ... |
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 Can i leave my tenenacy agreement in the first few days if i dont like my neighbours? |
| I have just moved into a new flat and have only been there a few days. It's an upstairs flat and i've discovered a young family living below who like to play music, blast their TV and ... |
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 In foreclosure, can they take other property? |
| I can't make current mortgage payments, and am trying to sell. But if I can't it will go into foreclosure. If the bank sells the house for LESS than the loan amount, can they make me pay ... |
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 College, flat and a job ~ only 16 need advice!!?? |
hey !
i want to move in a flat with 3 of my friends into a 2 bedroom flat (we're gonna share rooms) but i know that rent is very expensive so i would need to get a job to help pay for it, i&... |
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 Foreclosure or...? |
| I own a rental with huge structural problems needing repair and tenants who never pay their rent on time. The building is below code and this wasn't reported to me by my inspector. I am in ... |
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 How do i rid myself of a renter who wont pay rent? |
| i have a renter who will not pay her rent. i want her out because i have someone who will. i dont have the money to go to court. what do i do?... |
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 My new home contract says that the home is pre-wired for a security system, but I found out that it is not? |
| They are only offering me $150 to make up for this. To me, the pre-wiring was an attractive and valuable part of the home purchase, especially when I decide to sell it. What do you recommend that I ... |
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 How can medium income people afford a home in California? |
How is it that people can afford homes in California if a small home is $400,000 or more?
I know for a fact that people don't make 8 times as much as the rest of the country.....
... |
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 Roomate problem? |
| I recently bought a house on my own. I got a renter to help allivaite the added costs of living. But this current roomate seems to think he "runs the show". He takes things of mine and ... |
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 Will we be able to refinance our home ? |
| We bought our home in Riverside Ca. in 11/05 - we have a 5 years interest only loan - we have 3 years left on that loan. We can refinance at the 5 year point - but with the market the way it's ... |
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 How can you buy a house if you have bad credit? |
| How can you buy a house if you have bad credit?... |
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 My rental property has mould and damp. the landlord keeps telling me to wipe it off and keep windows open? |
| is this legal . i have reported it many a time and he says its because of double glazing. whats my legal ... |
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Sunny | If someone has to STRUGGLE to BARELY get a loan to buy a house? |
If you can get excepted for a loan to buy a house, but you have extended you resouces to do so, will this be a challenge from month to month payments? Should you do this? |
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Uh huh, go on I'm listening
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Absolutely not. Never under any circumstance should anyone struggle like that, odds are not in that home buyers favor, and shame on any bank that allows such a person a loan under those financial conditions.
Buying a home is expensive as we all know. But what many first time buyers forget is all bills involved. Many first time buyers go from apt's with heat/hot water included, to houses costing 3k just in heat during the winter, never mind all the other expenses, cable, phone, water, trash removal, maintance, lawn care, utilities, etc...
Never buy a house if you can't afford to save money while doing so. I'm talking put money into savings every week or month! Put it this way... if you can't afford hoildays, birthdays, vacations, etc... you simply can not afford a home. The average home owner spends (at least) one and a half times what they did per month on their home than their apt. Biggest expense, whether things need repairing or not, is prepairing to repair. Things will break, there is no landlord to call. You have to be prepaired to fix a leaking roof, a broken water heater, plumbing, etc....
So basically, if anyone isstruggling to afford an apt, they will never make it in a home. |
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Gefilte Girl
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I would never stretch my budget like that. My friend gave me the best advice... if you can buy a house, but not the furniture, you have no business buying a house. |
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Sharon T
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Probably not--but there are exceptions. Some people have little or no other debt. They have savings to last a few months. They don't spend much on entertainment or eating out. They shop very carefully. Such a person can afford a larger house payment.
Unless that describes the buyer, it is probably best to rent another year or two. It doesn't look like house prices are going to shoot up, though mortgage rates may increase.
You know yourself. If you don't feel ready to make sacrifices for a couple of years, don't buy yet. |
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Janet P
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This someone is simply not ready in their life and should not buy a house right now. They will end up loosing it and spending years trying to overcome the disaster. In the long run they will be better off waiting to buy a house when they are ready. |
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Big daddy
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NO! Unless you want to become another foreclosure statistic. I understand the need/desire to own your own home, but if your extended going in, it will only get worse, all the utility bills, day to day bills, maintenance all of that, you need cushion before you get in, if you don't have it, hold off. there is nothing worse than having the dream of home ownership crushed under foreclosure, don't put yourself through it |
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Ed Atun
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We all felt this way when we shopped for our first house. I was renting for $400 a month and going to a payment of $750 a month. Many years ago. I was doubling my expenses and my income certainly wasn't doubling.
You will wake up one day and know it is time to buy a house. Don't let anyone else hurry or slow you. You will know. |
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Cysteine
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No you shouldn't do it. It will also not be easy to find a lender willing to provide a loan where the total payments from the mortage,insurance,and property tax exceeds 28% of your gross income.
It also isn't a good idea. If you fall behind your full payments by just 3 months, for any reason, you can expect to lose your home. So please make sure you can easily afford it. |
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danny14551
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You are buying a house that is too expensive and this is how foreclosure happens. |
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