 On forclosure can they forclosure your home only behind 2 payments.? |
| They call me every other day when the 2nd payment is not paid, when it get close to the end of the month they write letters of forclosure saying my house is preforclosed . They know we get paid at ... |
|
 Applied for an home equity loan and got denied?? |
| They said our debt to income was to high. WE wanted to do some repair on our house but also pay off our credit cards and close the accounts and our motorcycle loan Why wouldnt they give it to me when ... |
|
 Why pay $400,000 for ugly California house? |
When you can buy $400,000 brand new big house with 7 bedrooms and 3 baths in Mississippi?
Why people wanna work 2 jobs in California to pay off
the small ugly house there?
Do they ... |
|
 Are there any good realty sites out there that offer houses under $10,000? |
| Looking for a fixer-upper, but I do not know where to start. Thanks!!!!... |
|
 Responsible for carpet after 10 years in apartment? |
| I recently moved out of my apartment after being there for 10 years. The apartment is in pretty much the condition you'd expect after 10 years of living in it. Nothing too bad but normal wear ... |
|
 What are my rights as a room renter if the owner is selling the house? |
| What processes does he have to go through as I do not have a place to go?... |
|
 Can I rent out my ex-council property without having a buy-to-let mortgage? |
| I am about to buy the council property I live in. Does anyone know for certain, or have experience in buying a council property, and then renting it out? Also, so you know whether I would ... |
|
 I'd like to buy a house on a semi low budget but have no idea how to start the process. Any tips? |
| I am self employed and make enough money to get by but I am not rich. I would like to buy a house but really don't know where to start or if it's even possible on my income. I'm ... |
|
 Removing someone from my apartment who isn't on lease? |
if i want someone to leave my apartment who isn't on the lease but has lived there for a few months....can i call the police or not?
Additional Details
he's been there for a ... |
|
 Do realtors deal with rentals? I thought it was just buying/selling? |
| Hi all, so my fiance and I are relocating and noticed most apt complexes say NO to animals, and if they allow animals they say NO to dogs greater than 30 lbs, and NO to more than 2 animals. I'... |
|
 How do you make an offer on a FSBO house? |
| Do I need a lawyer, agent or what? Should I make the inital offer verbal or in writing? The property is an estate.... |
|
 Are mortgage rates usually higher on investment properties? |
| Are mortgage rates usually higher on investment properties. I want to make sure that i'm gettin the right information. Right now if i go onto bankrate the interest rate is 6.27 on a fixed 30 ... |
|
 Do i have to give my landlord 30 days notice if i am buying a home? |
My husband and I are buying a house in Oregon...Do we have to give the landlord 30 days notice before we move??? We are renting a house right now,
Additional Details
there is no lease we ... |
|
 We have 1st mortgage fixed 7.75 and second mortgage ARM. Before my husband gets laid off, should I refinance? |
| I don't know what to do with the banks nad economy in such upheaval. My husband wants to refinance before he gets laid off. He's afraid of the ARM interest rate will go high and we won'... |
|
 My tenant is going to leave next 25days, but our agreement says 1month notice, so can I keep deposit or ????? |
I am new landload, and this time my tenant forgot to give me a notice brfore 1month, so I should get new tenant.....
I can take a deposit or charge of few days or what can I do ?
P... |
|
| I need help with scaring the crap out of a real estate agent that is trying to entice me into mortgage fraud.? |
| This person is an acquaintance so I don't want to put any strain on my relationship with this person, so I need to do this in an "innocent" way so they don't realize that I know ... |
|
 Would I qualify for a loan on a $525000 house.? |
| The Home appraised for $560000 and I realy want to buy it. My base salery is $60,000 and I will have roomates cover all but 1000 a month(based on a $3200 a month pmt). and i think my FICO score is ... |
|
|  |
deaftonez | Im buying a house? please someone with experience answer my questions read further? |
Im buying a house that cost 54,000 its not so much, but its in a bad neighborhood. The payments would be about 700-800 a month. Im planning on fixing it, cause it needs fixing, and then either selling it or renting it. Anyone with experience? is it worth it? or should i get a better house? A house that cost more? with less work? please help |
 |
 
sm4125
 |
If your payments are 700 you are paying a very high interest rate. Look for a house with a better rate and is already fixed up. It will cost you a little more per month but you will have more working capital. Doing the repairs yourself will take a lot of cash that won't be part of the loan.. |
|
Gin
 |
The old saying is,you should buy the worst house in the best neighborhood! Just remember,location,location,location! |
|
Pengy
|
The number one reason for house appreciation and desirability if Location. If this is in a bad neighborhood, fixing it up will not necessarily increase its value, and the rent you would receive would probably not cover your costs, then also take in the type of renters that live in bad neighborhoods, do you really think your place will be cared for? It is not the cost but again the location |
|
chevereeddie
|
once again ACE is right. homes in bad neighborhoods generally stay at low retail no matter what you do. you can invest that same money into a property that will give you more bang for your buck at time of selling. plus market is really bad. might have trouble selling property if in really bad neighborhood. unless you see major change in that area (are developers building condos nearby, any shopping malls opening up near by, new home constructions worth more money, etc..)in the next 5-7 years not worth it. if you dont see the area drastically improving soon dont waste your time. |
|
aab
|
If it is in a bad neighbourhood, i would not go for it. because i think even if u spend a lot of money on it, u won;t be able to change the neighbours. In future u will find it difficult to sell , looking at the market trend. A cheaper house has reasons for its low cost and same way A house that costs more sure has reasons for its high costs. Think 100 times before making investments. |
|
JMD580
|
Too bad it's in a bad neighborhood. Would've been a great deal to make profit money off of. Unfortunately, these days people look at the neighborhood, schools, crime rate and so forth. My advice to you would be, to keep looking. |
|
tonydgr8
|
If you have the time and of course the money to fix this house up. Nothing major, maybe new flooring (carpet,tile,etc..) new plumbing fixtures, light fixtures. Things like this make a huge difference when you want to turn around and sell it. 54k is very cheap for a house in today's market. Although it is a buyer's market, you can easily buy this house and do less than 10k dollars worth of repairs/fixes to the house and then turn around and put in back on the market for 99-110k in less than 2 months time. That's anywhere in the neighborhood of 50-60k in 60 days. So, I'd say heck yes. Do it. That is, if you have the time and money. |
|
open thoughts
 |
Too many variables. To be a good investment, the purchase price, including costs + all expenses, including selling costs and paying yourself for any work you did, must end up less than the value when you are done. For example:
Buy at 54K
Closing costs, repair costs (do not forget to pay yourself) and re-selling costs AND PAYMENTS YOU MAKE DURING PROCESS) say 25K
Total in 79K
If you cannot make 10% on it in a short time, or 8K in your pocket...why take the risk.
One other thought...what kind of pathetic financing would make a 54K home have payments of 7-800/month? That is absurd. |
|
acermill
|
Your answer lies in 'it's in a bad neighborhood'. You may well invest more in fixing up this property than it will bring in resale and/or rents in the future.
I would keep looking. |
|
SaraB
 |
If that's what you can afford now, then you're better off sticking with a house that wont go into forclosure because you can't make your payments. If you plan to fix it up, don't go overboard and make it way nicer than your neighbor's homes because you wont get that money back. There are lots of inexpensive ways to improve your home's looks without spending a ton of money. Try to do as much of the work yourself as you can. That's the fun part about buying your own home. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 7 minutes(s) ago
| | | |
10 | 42 minutes(s) ago
| | | |
9 | 48 minutes(s) ago
| | | |
10 | 1 hour(s) ago
| | | |
10 | 2 hour(s) ago
| | | |
10 | 4 hour(s) ago
| | | |
10 | 8 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
10 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
