 Ive overpaid my landlord what should I do(read on)? |
I rent from a private Landlord...
Housing Benefit increased my entitlement and as they send cheques direct to the landlord she didnt inform me of the increase and i remained paying my amount ... |
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 How do you go about refinancing your mortgage? |
| I have a 5 year interest only mortgage and just closed on my condo 4 months ago. It appears rates are lower. How do I go about refinancing and what are the advantages? If it's lower should I ... |
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 We got approved for our first home loan. can we use some of the loan to pay of our credit card bills? |
| we don't need all the money that we were approved to borrow for the purchase price of the home, but if we use some of it to pay off debt then we can have one low monthly payment...have you ever ... |
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 Property left by tenant, to be moved whenever? |
| An ex-roommate has agreeably moved out. He has left numerous vehicles, boats, trailers, lawn tractors, etcf. some in working condition, and my acreage littered with other items. A garage full of ... |
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 A credit card company put a lien on my house. I have to sell quick and can't afford to pay it off. Help! |
| I lost my job a year ago, i've been struggling since. A credit card has put a lien on my house and now I have no choice but to sell the house and can't pay off the credit card lien. Can I ... |
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 Feds cutting 3/4 of a point, what does that mean for home refi? |
Hello,
I've been stuck in an option arm loan for about 3 years now. I like to refi as soon as possible, but really havent notice rates dropping by that much for a 5 yr interest only ... |
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 Do you have to have a down payment to buy a house? |
i dont think you have to have one, but in order to get a lower payment you would need one right?
Additional Details
hey mark! tenn. is where we are planning to buy i need to get up with ... |
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 31 living with his parents? |
| rented out his property(900 euro a month) and sold his car to make more money.He earns 1200 euro a month after tax(less than 1000 pounds,1800 dollars after tax a month) and found it quite hard to ... |
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 Can a landlord request rent in October when they have yet to fix the shower from August thus you have no activ? |
| I have been living in an apartment to which doesn't have a working shower!! Yet I still keep paying the rent! The landlord granted is a friend but she has been saying she was going to fix the ... |
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 If you are a renter and a child drowns in pool you rent from, is the owner of the home responsible? |
| If you are a renter and a child drowns in pool you rent from, is the owner of the home responsible? No, this has not actually happened but a friend of mine owns a home that she'd like to rent ... |
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 Tax returns vs. W-2s mortgage question...? |
When applying for a home loan, do you need your tax returns or are your W-2s and bank statements enough to document your income?
Additional Details
Hmmm... I was hoping not to see ... |
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 Can I be sued for buyers remorse if i was unable to get financing? |
| If I am in contract to purchase a home and I was unsuccessful in getting the financing approved based on the contingency clause to buy their home without the sale of our home. I request a release ... |
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 Can I legally kick my parents out of the house after they have lived in there for over 30 years? |
The house is in my name, given to me by my late grandfather. They're paying me rent with no written contract.
They aren't preparing for retirement, there will be a day when they ... |
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 The driveway i rent is always blocked by the owner's family..what should i do? |
| i have my car and i rent an indoors driveway...almost everytime i take my car out or go back in someone is blocking the driveway..be it a neighboor or a family memeber and it is getting annoying..... |
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 Any Landlords out there??????? |
| My tenants of roughly 6 months had told me that the outside porch carpeting had gotten extremely wet and moldy after the long winter. One of them told me that her father would replace it for me for ... |
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JB77 | Is it possible to give your house to the bank without being foreclosed on? |
The reason I ask is that I purchased a home in Aug of 07' and now I've found a place that would much better suit me that is about 10k less than the place I own now. Do you think the bank would work with me to take the house I'm in now and give me a new mortgage for the new place? Or is this completely unheard of? |
 |
 
Mark C
 |
Banks don't want to own property. You can give them a deed in lieu of foreclosure, but that leaves the bank to sell the property like any other forclosure. This is not something the bank wants.
Your best scenario is to sell your present home and buy the new one, or exchange the properties using a 1031 property exchange.
http://en.wikipedia.org/wiki/1031_exchange |
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src50
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No. You're dreaming. |
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Expert Realtor
|
No...banks don't do that.
If you do what is called a "Deed in Lieu"...where you agree to give the house back to the bank "in lieu" of a forced foreclosure, where they will usually forgive the deficiency judgement as long as you leave the house in pristine condition, that is STILL treated as a foreclosure, and you wouldn't be able to buy your new home with that on your credit.
Yes, it is completely unheard of.
That is how banks MAKE MONEY...by originating NEW loans. |
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chatsplas
 |
Yes, it is called a Deed in Lieu of foreclosure. No, I don't think they'll do it. But this is a poor financial decision, and the bank is unlikely to cooperate with you and give a new loan on another house. It will adversely affect your credit rating--though not as much as a foreclosure.
The reasonable thing to do is to sell your home and buy another, clean new deal. OR to stay put. The costs of selling and buying are more than the $10,000 less. This seems a pennywise and pound foolish decision. |
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Keith W
 |
Sorry I asked that question a while back and the answer was NO! |
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slickmickeygal
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the bank doesnt want your house back, which is why they prefer to do a short sale over a foreclosure. they would lose money by taking it. you need to sell it if you want to get rid of it. |
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DayWriter
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The bank doesn't want the house back and you don't want a foreclosure. It will wreck your credit. I have an article about selling your home fast. Take a look. It might help you.
http://www.ehow.com/how_4406430_sell-house-market-bad.html |
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C V
 |
I would suggest you talk to a real estate agent about it.
Unfortunately, I think you will need to go through the process of selling your current home and buying the new one. There are a lot of options to do this - but the realtor will know them better than I could describe them here.
Good luck. |
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SOBELEAN
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Check out Home Sweet Home Mortgage home swap program. On meetup.com they also have meetings home swap to assist those looking to trade homes to avoid foreclosure. Tell them Eileen sent you.
http://homesweethomemortgages.net/foreclosures_swap_a_home_gro.htm |
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wild-man of Borneo
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Have try refinancing the old one?
With extended time.
Since the old one runs out of time.
Don't worry too much on interest.
Interest cover the inflation rates.
What we do need is extended time.
Instead of walking the street.
With time will see any buyer.
Then move in to smaller one.
Within the limit.
With two hands.
Luke 6.39-40,41-45,46-49
What do you think? |
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acesup01
 |
Thats a good question. I guess its worth a shot. The problem is that banks usually do not want to be in the business of selling real estate. This is a bad market for mortgages.
I would suggest you see what the market is like in your area.
You may be able to find a quick buyer, but you may take a hit.
You need to measure saving $10,000 on a purchase of a new home or losing money on the old home.
Is the mortgage assumable? Check that out also. |
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