 What would you prefer? |
| If you had the choice of living in a three bedroomed large house on a council estate or a terraced 2 bedroomed house within walking distance (5mins) of a town centre which would you prefer? The three ... |
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 IMPORTANT MORTGAGE FORCLOSER QUESTION. 2 people on Deed, but only one person on mortgage - Can Bank Forclose? |
| Due to loss of income my wife and I are looking at foreclose. We both have been unable to acquire new jobs that will pay near enough to sustain us. We are almost 6 months behind and have already ... |
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 Could I afford to buy a house (or a condo or some other dwelling) on a yearly gross income of about $38,000? |
| I live in Silicon Valley and I currently rent. I am single and just curious if it would reasonably be possible. Also, I only have about say maybe $4000 or $5000 I could possible use as a downpayment.... |
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 Why are real estate sales so SLOW now here in Miami? |
Why are real estate sales so SLOW now here in Miami?
I want to know because i've been trying to sell my condo and it has been already a month and half and only one person had come and seen ... |
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 Can my landlord do this? |
| I just moved out of my apartment before the lease was up and I was under the assumption that they would just keep my deposit. They are trying to say that I have to pay the next two months rent plus ... |
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 Mortgage going up by a thousand dollars. What will my bank do? |
I've stopped paying my 2 mortgages because I just can't
afford it anymore since one of them went up by a thousand
dollars. What can I expect my bank to do? I put my house
... |
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 Is the tenant or landlord responsible for damages to home fixtures caused by a burglary? |
| tenant made a police report, but did not tell me of damages for over one month. The toilet & 1 window was broken and a few small holes in bedroom walls. Is it the landlord or the tenant who is ... |
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 Mortgage lenders? |
I'm looking for a good Mortgage Lender for a new home purchase. Does anyone know of a good one? I've tried quicken loans and country wide. Lending tree sucks!
PS. If anyone ... |
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 If you are a landlord, would you rent it to family, relatives, and friends? |
| I have bad experiences renting to relatives because they tend to take advantages of me. If they don't pay you late fees and rent, it's very uneasy to ask them because they will take it ... |
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 Standard real estate agent comm is 3%. If I offer buyer agent 6% will I get much more traffic? |
| My listing agents have underperformed. I am highly motivated to sell my home. I am experienced and willing to "sell by owner". I'm wondering if double commission idea has merit/... |
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 When can a new homebuyer refinance? |
Bought home in April 2006
When can I refinance to-
1.combine mortgage 1+2
2.Get cash out to do home improvements?
I bought the house well under market value but with no cash down<... |
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 Got a mortgage refinance quote: Too good to be true? |
| A mortgage broker quoted me a refi of $235K with adjustable rate loan at 1.2%, and the monthly payment can increase by only $77 per year. Does this sound too good to be true?... |
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 Is it common for most people to not know the differences between Foreclosures, Short Sales, Preforeclosures,? |
| Is it common for most people to not know the differences between Foreclosures, Short Sales, Preforeclosures, and Bank REO properties? Is this something that needs some additional clarification for ... |
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 My boss owes me over $5000 in unpaid income. I want to send a letter to all the people he does business with? |
| I want to tell them he refuses to pay me or return my calls. I want them to know what a scumbag he is. Can he turn around and sue me for talking to the people he does business with and telling them ... |
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 Mortgage question? |
| Parents have a two homes they own free & clear and going to put one up for sale after they buy a home soon.(like within a month) Both are on SS with total income of about 1800.00/month. C... |
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 I want to sell a house that I inherited. What happens if a lien is found? |
| I inherited a house a few months ago from a relative, that I have been caring for the past 5 years. I am living in the house, but I want to sell it, and move somewhere else. I was wondering if I ... |
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| Can you be billed more then your deposit when you move out? |
| In the state on Minnesota. When you move out of an apartment or rental property, can they try to tell you to pay them more then your deposit was, for cleaning or repairs? Or would they have to sue ... |
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wishing_i_could_sing | Should we buy a home or continue to rent for a year or two? |
Okay, I know that buying a home is a great idea. But I have some questions concerning it. Here is my scenerio: My husband and I live in the Houston, Texas area. Our lease is up in a month and a half. We really want to move at that time into a place that has at least two bedrooms and a garage (apartment or house). We really want to buy a home BUT, at this time we can't afford the home we want. Our annual income is approximately 50,000.00, and our fixed monthly expenses before rent are approximately 1081.00. I have a lot of bad credit, including outstanding and charged off debt. My husband has fairly good credit, probably in the high 600s.
What I want to know is: Is it even worth trying to get a home? If so should we try to buy new or used? And, if we buy one and we want to sell it in a few years is that really a good idea? Also, we aren't exactly in the positiong to do major repairs on a house, will that effect us? People keep saying to buy a house, are they right? |
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Daniel L
|
Your first home doesn't need to be your dream home. You can move up later.
Timing the housing market is very difficult. Buy when you can and enjoy all of the benefits of home ownership. |
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Dane
|
it is a buyers market at the moment, not likely to last more than 6 - 9 months. If you really want a home this is the time to strike. Buy what you can afford. Can always trade up later. |
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irongrama
 |
Owning a home costs a lot of money, more than just the mortgage. You have to be financially ready, and if you buy you should try to get a conventional fixed rate mortgage, not the adjustable rate mortgage that will make the house seem so affordable. ARMs give you lower payments, but when interest rates go up so does your payment, and it goes up faster and higher than you can imagine. Rates are going up, so now I think you need to buy with a fixed rate mortgage while the rates are low. Nobody knows where the housing marked is going, but it does not seem to be going up much in the forseeable future in most areas of the country. I would consider waiting a while, prices are probably going down, and your ability to pay would be going up. |
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BMW BFD
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If you can afford at least a 5% down payment then buy buy buy!! It is always better. Right now you are throwing your money away on rent. |
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staceydian
 |
You can get 100% financing with a 600 score if he is the primary wage earner. You can do this without having to payoff old debt and you can go upto 55% on the debt to income ratio. Additionally you can have your R.E.Agent negotiate that the seller pay up to 6% towards your closing costs which means little to no money out of your pocket. I am also in Houston, by the way. |
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aiguyaiguy
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I'd definately keep renting for the time being.
We're starting into a real estate crash now and property values are dropping fast in many parts of the country.
Track the prices in you area and wait for prices to bottom out.
Also if bird flu crosses over to spread to humans there will be a lot less people needing houses and prices should plummet.
Also many of the baby boomers are retiring soon and will be dumping their big houses to finance their retirement. |
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:D
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you should be on a rent till you fnd a really good house,for example if you have kids decide it till they grow up a little and pick an area that is safe to go to school and stuff. |
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Mary L
 |
I know a lot of people say you should buy, since with renting you don't build up equity.
The problem with buying is you aren't just getting a house payment instead of a rent payment. You are responsible for all repairs, property taxes, homeowners insurance, even extra utility bills that (generally) landlords pay-like a water bill.
It's just my opinion, but if money tends to be tight, and you don't have resources you can tap in case of a major home repair bill, I think for the time being you are better off renting.
Good luck! |
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camrenalexis2
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My suggestion would be find a builder w/a large amount of homes for sale, buy a new construction home for as cheap as possible (usually the same price as a older home). You wont have much in the way of repairs,
Dont worry about the 5% down issue, if you have it keep it in the bank for worste case scenario.
Also, dont worry about a dream home just get something that is easy to sell in the future, get as many sq/ft as you can.
High 600's is plenty good enough for a loan, find a mortgage broker you trust and that is upfront on all the issues and you will be happy.
Dont get a 30 yr fixed loan, Go w/a 5-7yr fixed rate arm product, there is a very high likelyhood that you will sell/refinance prior to 5-7 yrs so why pay for a 30yr?
Remember you will have Tax advantages in owning a house that if you factor in make owning a house only slightly more expensive then renting.
If you get a cheap house now, when you are ready to buy you could turn this one into your first investment property!
If you buy into the idea of not buying because its a buyers market right now you will miss out. Just think if nobody ever bought in the early 90's. I say look around, find a desperate person who must sell and get a home in good shape for as cheap as possible.
Remember my advice on the 30yr fixed thing... I've been there and done that and really wish I would have just saved the money!!!! I've also gotten 2yr adjustables where its only fixed for 2yrs and I DO regret that because that is way to short of a time but 5-7 will do you good. |
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Alterfemego
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I would invest time to discover what your options really are by first calling at least 3 loan officers for quotes on loan packages that may work for you current financial situation. Second, if you are comfortable with a loan officer, I suggest you interview 3 realtors and select one you're comfortable with and take a look at some homes that might fit your needs now. As most have already told you, you may not get everything now, but real estate appreciates and you could always move up later.
Every step in this process gives you a good foundation for making a decision. Skip a step and you only have part of the information.
Buying real estate may provide additional tax benefits. Renting offers you no financial benefits.
Good Luck! |
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