 My Fiance and I are going to start looking for a house after the first of the year.? |
| I have no idea on how to buy a house. We both have excellent credit, and are not in much debt (with the exceptipion of my car). Our yearly income's combined ranges between $70-75 thousand. My ... |
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 1st Time Home Buyer Getting Cold Feet!? |
So I am getting ready to buy my first home and I am excited. The more I think about it the more I worry about me affording my mortgage payment.
Details -- I make 71,000 a year and bring ... |
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 So confused on buying a house!!!? |
| We don't know what to do...where to start. Anybody have any "learned from" experiences they wanna share? Do's, don'ts, watch out fors...any piece of info will be helpful.... |
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 When is the right time to increase your tenants rent? |
| I currently have tenants renting my house. They would of been in the property for a year in January 2008. Is it acceptable to increase the rent by 5% in January?. I have a mortgage on the property.... |
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 Does the landlord need to have our key? |
| Do we have to give key to the landlord if we change the locks? My landlord comes into my house and looks through personal information and i can tell because when the landlord comes in she moves ... |
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 Going to court over back rent.. will we win?? |
| When we first moved into this house, our shower wouldn't drain. It would overflow before we even got out of the shower so we figured it was clogged. Well, we told the landlord and she bought ... |
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 Buying a house question? |
| if i earn just over 13 grand a year is there any realistic chance i could get a half decent mortage?... |
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 How to deal with tenant doesn't pay rent? |
| I have a tenant who rejected to pay the rent for this month. I have already followed BC tenancy act to give him a 10 day notice. According to the residency act, he has to move out within 10 days if ... |
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 What is a reasonable % rate for a Real Estate Agent to charge? |
| I'm located in Southern California and after speaking with my Realtor, he gave us a 5% commission rate, 2% for him and 3% for the other agent.... |
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 Is it true one can buy a house with 30% down no income verification? |
I heard this from a friend and was wondering if it is true?
30% down payemt on a ... |
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 How can I sell my house faster? And make it more likable to the buyer? |
| My house is in Palmdale, California. It was built in 94' and is in great shape. Four rooms, tile, carpet, great condition. My real estate agent is not doing a good job in promoting the house. I ... |
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 Can I get a home equity loan with a credit score under 500? |
| My husband and I own our home free and clear and have been having trouble getting financing because of our credit score. I am guessing that our home is worth approx $125k, I am guessing. (our ... |
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 How do people afford all these big expensive homes? |
| I have worked hard all my life and can not afford 300 400 500 or more thousand for a house. What I am seeing in RI and MA is 3000-4000 sq foot homes with big tags. A 2000 sq ft home is still ... |
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 1st time Home buyer, good time to buy? |
| My husband and I are looking into possibly buying a home here sometime soon. I have been told by everyone that this is a buyers market right now. Do you agree? If not, can you please explain? I ... |
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 Is a Rental lease invalid if the Landlord made me sign my not yet married name? |
| I signed a lease 6 months ago on April 30th.. ok.. So my landord made me sign in my married name, even though I wasn't married yet. I got married on May 16th... Does this technically make the ... |
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 Is it really possible to buy repo homes without being an Real Estate agent? |
| How do you go about doing it? I am looking to invest in property but am unsure of how to go about it.... |
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Buttercup23 | Is it possible for my grandparents to take a loan out to buy me a house if they already own two houses? |
I found a really sweet deal on a condo in my area at an unheard of price, the only thing is my credit is horrible so there is no way I can get a home loan on my own! I do however make enough money to pay the mortgage. My grandparents on the other hand have excellent credit, but not much money in the bank. They do own two houses, but have recently taken out equity on one of their properties to purchase a vehicle. My question is, is it possible for them to get an additonal home loan even though they are retired? |
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shiprepairwoman
 |
It would depend on their income and any other debts like mortgages on the first two homes. They would be advised not to do it since if you didn't make every payment on time you would trash their credit. Improve your credit then buy your own home. |
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MoneyMonkey
 |
Technically they could, but you should never put your grandparents in that kind of situation. Clearly they do not have excess financial resources if they are borrowing against their property to buy a car. Just rent while you save for a down payment and while you improve your credit. If the banks won't loan to you, then your grandparents would be taking a major risk loaning to you. A risk they can't afford. This would be really taking advantage of them. |
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Real Estate Guy
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you have bad credit and you want your grandparents to take a risk.
Here is a suggestion. Grow up and do it on your own and let your grandparents keep their retirement. |
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Kaylie
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So you think that you're ready to buy your own home? Hopefully you've done a little research online to make your first home buying experience a good one. First of all you should contact a mortgage broker that will preapprove you for your new mortgage. This is now more important than ever<!--It's also important that once you receive a preapproval you get busy right away looking for your new home. The reasoning for this is that with the mortgage meltdown lenders are changing their lending programs as quickly as Paris Hilton changes her boyfriends. Scary, huh?
http://mortgage-loans.awardspace.com/
At this point you will let the mortgage broker now how much you would like to get preapproved for. The broker will then take a full mortgage-->loan application. The mortgage broker will also run your credit. With all this information in hand the mortgage broker will see if you have enough income for the price of the home that you would like to purchase. |
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votegop04
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First off, how BAD is your credit. Possibly with some credit counseling, a lender may take a chance on you.
Second, a broker may be able to set you up.
Third, I'm going to assume that your GP's made good cash, and just wanted to write off interest thus the HE loan for the car. If they have good cash flow and can foot the mortgage if you decide to skip your obligation, why not have them co-sign.
Or, it might just be time for you to take personal responsibility for your previous actions and get your credit in order. |
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ronald.glass@sbcglobal.net
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Yes, however, they will have to probably use part of one of their existing properties as collateral. |
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Wilson76
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This is possible if they have a high enough equity line of credit. If one or both of the homes are payed in full and the value is high enough they should have no prob. You only have to get them to go for it. |
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stevexnelson
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It's very possible that they can do this.
Speak with either a bank or a mortgage broker.
Good luck. |
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