Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Renting & Real Estate
Finance Discussion Forum

 Want to rent my house out - what do I need to know?
I want to rent my house out and think I will probably get a property management company to manage it. How much do they usually charge? If they are taking care of the Also, do I need to notify ...


 My ex didnt pay a penny of our morgage or bills now we have split up has he any rights?
me and my ex boyfriend bought a house together but 6 months later he left me and i had to carry on the mortgage payments and bills by myself. I later found out that for the whole time we lived ...


 Can I sue a landlord for roaches in an apartment?which they have ignored my requests for spraying for 2 months
...


 If it is paid off which it is free and clear aren't they suppose to send something to the county or me saying
it is paid off? i bought it from the previous owner which is where i sent my payment too. but he is deceased and the lawyer who took over will not return calls to him asking him for something saying ...


 Just received an eviction notice please help!?
I've lived in my apartment for a month now and about two weeks ago we had a birthday party. There was music playing, but for the most part it was not too rowdy. The next day we cleaned up the ...


 What happens if my landlord lost my security deposit check? He wants another $500 from me. I have receipt.?
I have a receipt from the landlord. He wants me to pay another $500 bc he lost my security deposit check. Do I have to give another $500?...


 I need a new name for my company. Help?
Property Management! My boss/owner of company ask me to come up with a new name and I am not having any luck! Please help. I renamed a property Whispering Palms and now she wants me to come up with ...


 I would like to rent out my house before I re-locate. What steps should I take?
...


 This guy is an idiot!!!!?
so we've been living in our friends house since december cuz he moved to costa rica. we signed a lease for 6 months, so we're out at the end of this month. we already told him we're ...


 Even though I have a broker, can I still call the bank and check the status of my loan?
Im getting irritated and frustrated. We are already weeks behind, and I should have heard something Monday.
My broker likes to avoid me till he has something to tell me.
Im going insane!!!!<...


 How can I get a home for me and my daughter with bad credit?
I just recently paid off all of my outstanding creditors and I need to move out of the place I am at within the next month. How can I do that if my credit report won't reflect the payments until ...


 What are the closing cost of a home?
...


 Is it legal to have someone get an apartment for me so I can live in it?
I have bad credit and can't get approved for any apartments, it seems. I have a decent job that is career oriented. So, I figure the only way i can get a place is to have someone else apply for ...


 After buying a mobile home and living in it for 10-15 years if it has been well maintained will it...........?
go up or down in value? Lets say at the time of purchase it is 10 years old or less and in excellent shape. If its well maintained what will happen to its value as time goes on?...


 Can a commercial landlord raise rent because they had to replace an air conditioner?
A pet shop has had trouble with the air conditioner all summer. He has tried to have it repaired but the air conditioner was just to old. He asked his landlord to replace it but they said if they ...


 Should we purchase a home outright?
My husband and I have the wonderfull opportunity to purchase a home outright. I am aware of the tax breaks we would get if we were to finance a home. We would still have PLENTY left over (after ...


 Tenants rights?
I have never been late on a rent payment.... My landlord came to my apt. today and told me (verbaly) that I had to be out in 5 days due to structural damage to the building that needed to be fixed. I...


 Home inspection report--should owner get copy?
We got out of a deal to buy a house because of all the problems on the home inspection. The owner, who is selling the house FSBO, would like to know what issues came out from the inspection. Is it a ...


 I want to buy an apartment in london. what area should i consider?
...


 Is there a way I can buy my first home while having poor credit and without providing income? THX!?
I have never bought a house before and know nothing as to how to do it. I just figured I'd never be approved since I have very poor credit and I get paid "under the table" and wouldn&#...



majmunovic
Should i just abandon my house?
well, 2 years ago i bought a fixer uper house, and for the last year ive been trying to get a permit and ive been denied and denied and denied because federal law from FEMA says i cant build big additions in my house because i live in a flood zone, the insurance on the house is skyrocketing and so is the taxes and im real fed up with paying for it and im tiered of these laws, i know that this house would never sell at its current condition or sell high enough for me to pay off the morgage, would it be a good idea just abandon it and leave my state?

and im serious, this isnt a joke
                     
 




Johnny A
Rating
I would never abondon it....I would take pretty much any offer and try to pay off my debt so my credit isn't screwed up...


Kass
Put it on the market and try to at least get out of it what you owe. If you walk away, the bank will foreclose and they can take a judgment out against you for the balance of what you owe (including their attorneys fees and foreclosure costs) and what they sell it for. Also, you credit will be screwed.


kt_b_blue
Rating
Foreclosure is becoming a huge option for people in sinking home loans.

My advice: Buy another house or get into a lease before you allow this one to be abandoned. The foreclosure will ruin your credit for the next 12 months, and will remain on your credit for 7 years, so get into your next house while you can, and then allow foreclosure to take place.


Jo
Rating
How about doing something to your house that will bring up the value so that you aren't out sooo much money?
I think that you are going to regret screwing up your credit over a house.


aaron l
Rating
Ethically, it is not right. That said, sometimes walking away does make sense. Maybe you could try a shortsale, where the bank is willing to accept less than what you owe. Call your lender and tell them you cannot afford the home anymore and you want to do a shortsale. If they accept, have a good realtor that is experienced in shortsales list the property for you.
If you walk away, your credit is ruined, regardless if you change states. A shortsale will show on your credit as a "negotiation," which is not anywhere near as bad as a foreclosure.


godged
Rating
Before you buy something, it is always a great idea to check with the local planning and permits divisions to see if the property can be developed the way you want.

Offer it for sale, there are plenty of people out there looking for fixers.

If you are fed up now, wait to you see how fed up you will be if you allow your house to foreclose. It will destroy your credit and you will pay more for anything that is based on credit score. You won't be just abandoning it and walking away.


carashall
Rating
Seriously, contact those people with the "we buy ugly houses" ads, they buy houses like what you're stuck with.
Don't just abandon it, but definitely try to get rid of it.
Sorry that happened to you!


H mom of 3
K I would never suggest abandoning your home. That would be the worst thing that you can do. What you can do is put it together enough with the cheapest product to make it liveable and then put it on the market for just over what you owe on it. That way you can hope that it will sell quickly, and you can break even. You will never be able to buy again if they foreclose on the house if you abandon it, stay strong, get it liveable as soon and as cheap as you can and put it on the market.


Weimaraner Mom
Rating
leaving the state isn't going to solve the major credit problems you'll experience down the road. If you abandon the house the city could come after you for the condition the property will eventually deteriorate into, the mortgage company will foreclose on you and that will ruin your chances of ever owning real estate or even renting an apartment, buying a car, getting a loan.

Repair your house and sell pay off the debt as much as you can. next time check to see if you can add additions to a house BEFORE buying a fixer upper.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.014
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy