 Can a builder require you to apply for a mortgage with a specific lender? |
My wife and I are buying our first home. We are already pre-qualified for a loan through a broker. We found a house in a new development that we decided we wanted to buy.
I know in C... |
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 When does a house become a home? |
| I moved a month ago to a one bedroom apartment. Ive always lived with either my parents or my husband or my children. I just cant seem to feel at home in this new place. What are some things i could ... |
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 I live in NY. If I refuse to pay fine that was levied from my townhouse association - what can they do? |
| I have heard that some associations can forclose on your home over fees not paid. But I don't believe that is in NY.... |
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 My Landlord refuses to allow me to have a cat. He was extremely aggressive towards me and claims they're dirty |
What can I do?
I called him and his reasons for his instant refusal were that cats are "dirty, flea-ridden animals" and he hung up on me.
When I called him again, I stated that I ... |
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 How do I get a mobile/manufactured home put only in my name.? |
My auntie is "helping" me take possession of a mobile home I inherited from my uncle (her brother).
She said it had to be put in her name as well as my name to avoid an ... |
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 Can I get evicted while husband is in boot camp!? |
| My husband is in US Navy boot camp.. He's been there a month and we still have not recieved his first paycheck. (pay day= 1st & 15th)The recruiters said AFTER he left that I probably won... |
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 Please don't make judgments, just advice.....good advice...use-able advice! PLEASE? |
| Ok, I got an apartment..things were great..bad luck set in. I needed to move back closer to family. I talked to the lease agent & she made me give a 60 day notice & I had to pay rent for the ... |
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 My wife and I are looking to buy our first house. Our credit isn't the best. What can we expect? |
| My creduit score is 590, hers 620. We have a little less than $8k in savings. What kind of loans could we qualify for? Will we be looking at high interest rates. Should we continue to work on our ... |
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 Do good replacement windows really help sell your house? |
| My windows need to be replaced. Will home buyers really care if I replaced them with Anderson as opposed to some other company?... |
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 Can you break a real estate sales contract if you decided to sell by owner? |
| We have had our house listed with a real estate agent who has had little contact with us in the past 4 months. We have been approached by a private buyer - can we legally break our sales contract?... |
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 How quick can I evict a roomate that's not on the lease? |
| I rent an apartment here in Largo, Florida. I have several roomates but only one I have a problem with. He has shown an act of violence towards another roomate and I am suspicious that he has a ... |
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 I WANT TO START a PROFITABLE FARM ON 10 ACRES!? |
| Im a 26 yr. old dedicated to seeing my dream come true. I currently live in Northwest Indiana and want to stay here in the area. Ive been trying to find out what breaks are out there for farmers, i.... |
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 Since the housing market is collapsing, Is it cheaper to build a house? |
| If not, then it might cost more to build a house than it is actually worth.... |
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| Does anyone know the best way to get rid of accumulated stuff? |
I have used Ebay to sell collectibles and Yard sales to get rid of usable items from my accumulation. Does anyone know of any other avenues to take to clear out 20 year of accululation?
We are ... |
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 Can a landlord evict a tenant who pays rent every month? |
| what are tenants's rights? and can a landlord evict a rent paying tenant and if not, then what basis can a landlord evict a tenant?... |
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 I just made an offer on a home in short sale (about to go to foreclosure)? |
| The owners accepted my offer and signed my contract, but the contract has to be approved by the bank. It takes up to 5 days for them to approve. My questions is--what happens if other offers come ... |
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 How can rent increase? Does the number of people in a house increase rent? |
I just want to know what factors increase rent. I know that rent does increase yearly, but what else factors in the increase of rent?
Hypothetically... if 6 people live in a 2bd/2ba ... |
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 Can i use a personal loan for a deposit on a flat? |
| i have taken out a loan for 8k. i want to do a buy to let mortgage with another bank. will i be allowed to use the money from the personal loan(sorry if this is a silly question it's just that i ... |
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tegan | My parents want to buy a home under my name. What should I do? |
I'm 22 with pretty good credit and a good paying job. My parents have never owned their own home but now that they're more successful business wise, they're up for it. They both have awful credit from when they were younger so its very hard for them to get a loan. I trust my parents and know they wouldn't screw me. Is this a bad idea for me to take on?
Additional Details
We are planning to swtich it back into their names after sometime. Even after we do that, the house is still going to me in the will. |
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Landlord
 |
This will prevent you from buying a home of your own.
Also, your parents are feeding you a line of c***.
They have awful credit from their behavior in the last few years, not their youth. Their bad credit ways will continue, they will not get a loan, so not remove their names, PLUS your credit will also be c*** because they will abuse yours as well.
Tell them no. They made their choice in life, they should not be trying to deny you the same opportunity to choose. |
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starrycolorado
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Well, consider this, if you do put the home in your name, they will most likely have a 30 year mortgage meaning if you ever want to buy a home for yourself, you will be looking at buying a second home with much higher down payment and interest rate as well as tax liability.
I know you want to help your parents but I think that they should get credit counseling and get their rating better. They may have a bit higher interest rate on a home loan but it will help their credit in the long run.
There are MANY things you can do to raise your credit rating rather quickly, I have researched it and done several things with mine and it's amazing how fast it rises if you do it correctly. I would talk to them about this instead of risking your financial future on it. Google tips to raise your credit rating. Good luck! |
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hanora
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I'm sure that they wouldn't deliberately screw you, but...... they probably didn't deliberately not pay their bills and get awful credit. Stuff just happened, and stuff might happen again. It doesn't take all that long to clean up credit, they can wait a few more years. If you want to help them, save up some money and help them with the downpayment. |
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vyxen
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if you trust them ... still dont do it |
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Indiana
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it's not a good idea, they should talk to someone at the bank who can help them get a better credit score, like a credit counselor. most things drop off of your credit score after 10-15 years so mistakes made when they were young should really not apply anymore. |
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modav13
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Don't do it |
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Megan
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ehhhhh
Did you plan on buying a house within the next 5 years? When will their credit scores be cleaned up enough to refinance it and put it in their names? Will they be willing to pay closing costs on a refinance in the future?
If you keep this house in your name, whenever you go to purchase your own house, you're looking at missing out on first-time buyer programs, tax savings, low downpayment options, etc. On the other side, you will be the one reeping the tax benefits if they bought this house in your name now.
Financially, this is not the greatest idea. But, if it was my parents, I would have to do it. I would feel obligated |
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Ed Atun
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Go ahead and do it. What you said about their credit being caused by their youthful days is not true. If they paid their bills on time in 2008, their credit would be good. It is updated constantly. |
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Loki
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Don't do it. They're your parents and it will make things messy. |
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CrazySage
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Do you know you buy and sell home only one that live in don't count as capital gain taxes. If you bought second home and go up in value,and sell it, prepare to pay taxes. I don't know how everything is going to go. Does they intended to give you the home? You do the math and work it out. you smart enough. |
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