 Anyone with real estate knowledge that could answer this? |
| My mother is retired living off of social security and VA disability. She currently pays $699 for rent but she wants to buy a house. She can't go VA (used it before). She makes 1800 a month. ... |
|
 Can you evict someone because of unsanitary habits? |
| I own an apartment building in Maine and some tenants are complaining of the oder coming from another tenants apartment. Can I evict them because of the oder? They won't let me in to inspect the ... |
|
 When the real estate market goes down, will people lose money? |
I live in southern California, for the past few years home prices have skyrocketed.
Recently I noticed houses are selling slower and the prices are going down.
Does this mean ... |
|
 What are renters rights? |
| After giving my landlord a letter to make repairs he had ignored, he in return got mad and came over with a new lease with a higher amount of rent to pay and making us responsible for all the repairs ... |
|
 Problem Landlord, please help? |
| I have recently moved out of my rented flat. The landlord has advised me that I own him one months rent. I have disputed this and am waiting for my bank statements to confirm this (I am unwilling to ... |
|
 Is it necessary for a first time buyer to hire a real estate broker? |
| I already have access to MLS- do i really need a broker? Granted, there is a lot of confusing paperwork but cant i have a real estate friend to look it over for me. And doesnt it seem like a selling ... |
|
 How to find a loan shark? |
| I need $5000.00 and have tried conventional methods. I am in serious need of help.... |
|
 Can a landlord keep a security deposit if you decide to NOT move into the apartment? |
| If you were to pay a landlord a deposit with the intention of moving into an apartment, but then back out, and the landlord then rents out the apartment to someone else, can the landlord legally keep ... |
|
 I don't understand lease with purchase option. Can someone explain this to me? |
| We have received a Lease with Purchase Option contract from the lady next door for her house. I'm not understanding what several things on it mean. HELP!!!. If anyone with info on these can ... |
|
 Has anyone had their house foreclose due to the current housing market? |
| I bought my home two years ago, when the market was hot. I was in a two year fixed loan. However, the market fell and now the value of my home is upside down and I can't refinance. It went up ... |
|
 If the media would back off, do you think the real estate market might rebound? |
Additional Details
I know they didnt create the slump, but they seem to focus only on the negative and frighten people from buying, like telling them that the prices are going to keep ... |
|
 How much would it cost to buy America? |
| I want to buy America, the country. How much would it cost and who do i make the payment payable to?... |
|
 I've heard that asking for last months rent when moving into a new home is illegal. Is that true? |
| I've noticed that a lot more landlords are not charging last month's rent and I am wondering if it is due to the legality issues. Thanks much for your response.... |
|
 Home Sellers: When listing your home, did an open house help? |
| I know every market is different, but did you really get more offers after an open house?... |
|
 Tip to sell a house? |
| selling a house any tips?... |
|
|  |
mayorofbarnet | If you become self employed, what and when do you have to tell your mortgage lender? |
What are the implications of this, i.e. Can they put your rates up and how would it effect you if you wanted to move house? |
 |
 
mseekers
 |
providing your still living at the house and more than 40% of the house is occupied by you and your family you dont need to tell them anyting... if you are using the premises as a place of business and occupying more than 60% with the business or renting the house you may be violating the terms of your mortgage..... |
|
hunter2
 |
Once your loan has closed and you are making payments they don't care if you are robbing banks to make the payments.
You don't tell them anything. Just keep paying as before.
I don't understand what if you want to move house? What are you talking about?
Best of luck |
|
HERBS
|
they can not put your rates up whilst your tied in to a mortgage, nor do you have to inform them of your new status. problems only arise when your searching for a new deal on your mortgage. as your newly self employed you wont have any accounts to show a mortgage lender, and will probably have to go for a self cert mortgage, which means you just tell them what you earn without showing any records. this could lead to you paying a higher interest rate than others, but not necessarily. if you have a good credit rating you may still be able to get a decent rate. my advice would be to go to and independent financial adviser. they are fairly trust worthy and will point you in the right direction. they are also usually free of charge because they get commission when they sell you a product. i am self employed, and always seek advice from an IFA. ..i wish you luck in your new venture |
|
sarahjanec
 |
When we bought our first house, my husband was a self-employed carpenter. As long as you can prove that you are in full time employment and have at least 6 months worth of decent earnings then you should'nt have any problems.
As far as rates are concerned,(in our experience) the lender can only raise them if the Bank of England increases interest rates.
And moving in the future; If you've been with your lender for a while and you've kept up your payments, I don't think it will effect you too badly.
All the best!! |
|
Barbara
|
It is not required of you to notify them of any changes of employment.
Move house? You mean sell it? You will just have to get a payoff figure from them and pay off the balance of the mortgage at the time you sell it. There are exceptions to this ruling, like if you sell on a land contract, you can retain the mortgage until you issue the buyer a deed.
Physically move the house off the property? Your mortgage will probably not allow you to do that. Any structural changes must be okayed by them.
Good Luck! |
|
Alissa H
 |
You are already locked into your loan and paying on it, so they can't do a thing. Your loan was made, signed, funded and recorded at that time. If you go to get another loan or refinance with the same lender that is the only time it will matter whether you are now self employed. |
|
chev2k3
|
does that really matter if you r paying i think that things should do all right |
|
george 2
|
once you have a mortgage, you can do anything you want and they cant do anything as long as you are still paying on time. however , you would have to tell them your plans on moving the house and would have to get their okay to do it. |
|
Professor
 |
Tell them nothing but do go on paying each month for that is the only thing they will moan about |
|
dbharrold
|
I wouldnt tell them a thing, as long as you keep paying they will be happy. If you want to move house that is another thing. Your existing mortgage is probably 'portable' which means you can take it with you if you move. However if you decide to increase your borrowing this may well cause a problem as most Hight St lenders want two to three years accounts.
Dont worry though, there are plenty of lenders who specialise in self employed with no accounts and as long as you have a clean credit history they are only marginally more expensive thant the High St. Find a decent mortgage broker to help or contact me on dbharrold@yahoo.com |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 18 minutes(s) ago
| | | |
10 | 29 minutes(s) ago
| | | |
10 | 3 hour(s) ago
| | | |
10 | 8 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
10 | 6 day(s) ago
| | | |
10 | 1 week(s) ago
| | | |
10 | 2 week(s) ago
| | | |
10 | 3 week(s) ago
| | | |
10 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
