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 Is it worth avoiding paying PMI on a mortgage and withdrawing some money from retirement funds?

Additional Details
was thinking to take out 10K from retirement funds as a first-time home buyer (hardship withdrawal) to make the 20% down....


 What do a person need to do when someone want to buy a house from start to finish?
first time and don't know ...


 Do I still have to go by a lease when it when it ended 6 months ago?
I have been living in my apartment for a year this month. Our lease was month-to-month during that time, and now of course we are month-to-month, but without a valid lease. We have been paying on the ...


 Any help out there to prevent foreclosure?
I am about to have a huge problem. We took out one of those New Century loans with a low (ours was not that low but...) intrest rate for two years and then they can rais it. We had planned to ...


 Are the any government grants out there to help a low income family buy a home?
Are there any government grants out there to help a low income family buy a home. I'm a first time home buyer and I can never seem to same any money for a down payment. The cost of the home I ...


 Can i charge late rent fees to my tenants?
I have been a landlord for about 15 years now and never charged late rent fees to my tenants. I have had lots of problems and think its time for a change. Does anyone know what the process is for ...


 I was given an inflated real estate appraisal. What can I do?My sales price was based on it.?
I purchased an investment property last year whose price was based around an appraisal which I now believe to be inflated. In looking at other appraisals, the numbers used are very different. They ...


 As a HOME BUYER, how does this make you feel?
The national association of realtors brags (see link below) that home sellers that used real estate agents to sell their home received a 15.4% higher sales price than sellers that sold their home ...


 Just who are all of the people defaulting on their home loans in America.?
These people made false statements on their applications, and some unscrupulous lenders aided these home buyers.
What is the demographic on these people?...


 Lease Tenant Changes?
I am a primary tenant of a townhouse in Virginia. My wife who also signed the lease recently left. She has no intention of coming back and I would like to know by law what are my rights as a primary ...


 What right s to access does a balliff have to your property?
...


 I would like to build my own home on my own land in atl without HOA or communties .is this possible?
close to the city as ...


 What should I be studying if I want to flip a house some day?
It's a dream of mine to flip a house. I don't know anything near what I need to know in order to be successful. Where can I begin to learn the necessary information so that I can be well-...


 What are some ways a single mother on an average income purchase a house?
...


 Does a house need to be fully rehab before an appraiser can appraise the house?
The house right now is usable and functional. There are a few things need to be done like putting screens on windows, replacing the kitchen cabinets, and putting doors in bedrooms and closets. The ...


 Is it normal for a landlord to charge a full month even if you move in in the middle of the month?

Additional Details
the rent here goes from the 15th to the 15th. I moved from ny into this place on the 1st. they insisted i pay from the 15th to the 15th.i also paid a security deposit....


 I purchase a duplex built in '05. What typically happens with the security deposits from the current renters
I am looking at buying a duplex in lehigh (uhg I know its a risk)

the one I've been eyeballing has both sides currently rented out. IF the current owner/landlord collected a security ...


 How do first time homebuyers with no credit or fairly bad credit find a good deal on a house?
i have no credit and i have some bad things on my credit like hospital bills. i havent been working very long is it possible...!!!!VERY SERIOUS!!!! what about forclosure houses.. *how do i go about ...


 Where in Ontario can you buy an affordable lakeside cottage - preferably two hours from Toronto?
...


 How can I sale my 3 bedroom home fast?
I made upgrades and still nothing ! Close to schools and expressways and not far from lake.
Additional Details
I live in Oklahoma by lake E...



yasmine m
If you rent out your house are you responsible for what goes on in it?

Additional Details
if you rent to drug dealers or gansters can the law seize your home?
                     
 




shiprepairwoman
Rating
Yes and no. If they are cooking meth you can lose your house but if they are beating the kids you can't.
Screen tenants for criminal background and credit then make sure the neighbors have your phone number in case they are bad neighbors you will get a call. This can allow you to ask them to quiet the dog or find out they are dealing drugs or running cockfights.


estielmo
Rating
If there is reason to believe you know of illegal activity it is possible you could be at least civilly liable and there could possibly be criminal charges, as well.


A Texas Tycoon
Rating
There is a fine line here. If you knowingly rented the property or are working with the criminals then you can lose the property. If you lease to them unknowingly then you will not.

About 10yrs ago I unknowingly rented a house to what the police later told me was a drug cartel. I did not lose the house be believe me when I tell you I was put under a microscope when they did their investigation.

The best way to protect yourself is to do a full criminal, credit and back ground check before leasing your house. There are agencies that do this for you.

(National tenant network)


Ross
If you are aware of something illegal going on in a home that you own but rent you are required to report it. Not sure to what trouble you can get in if you don't. If you know that your tenants are doing something illegal you are required to report it and cooperate with the law.


jenfrompen
If you rent out your home you can be held liable for what happens inside and on the property. In Example, if your tenants are dealing drugs and the police are involved you could loose your property. You can make sure that you are protected by having a very clearly defined lease. Consult an attorney to make sure that you are protected in a worse case scenario.


Patrick
In a short answer, yes. There are federal forfeiture laws which allow the government to seize any property which is knowingly used for drug trade. That means if you know, or should have known, that drug dealing is going in in your house the government can seize it.

BTW, the law applies to all property. If you use a car for a drug deal it can be seized, as well as the money that trades hands, etc. All property is included in these laws.

Good Luck!


keswickian
Rating
To a point ,if it is a grow op then the government can step in a tear down your house ,You need a signed lease to prove you do not live there i would check it out with real estate and see what your rights are.


?
Rating
to a degree yes. if you are renting it out without the landlords permission then yeah if something goes wrong, it will all on you. sign an agreement with the third party and if the landlord is cool, then go for it. if not, you may want to sign that agreement anyways so if you are in trouble you can at least recoup something for the damages from your friend.


Kimmy3
Rating
I wouldnt think so, but you fail to provide details of the exact situation. Please provide more details.


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