 Do I have any rights to claim a percentage of my ex-partners house sale? |
| My partner and I split up 4 months ago due to him cheating on me, after 6 years together, 4 engaged & 3 living together. We purchased the house that we had been living in for two years last year ... |
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| If a landlord refuses to fix a sewerage problem, can I withhold rent? I cannot flush toilet, shower or dishes. |
| I rent a small, one bedroom cabin for $600 a month. I cannot flush the toilet, drain the sink or shower because everything backs up into the shower stall. I discovered the sewer line is draining on ... |
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 Why are houses in Foreclosure so cheap? |
We are looking at a couple houses lately and I was just wondering why the sale prices on those in foreclosure are so low when the market price is through the roof???
Additional Details
... |
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 Why is it that every real estate person that I’ve talked to does not know what Fixed income means? |
Why is it that every real estate person that I’ve talked to does not know what Fixed income means?
Additional Details
If I fixed interest rate I would have asked about fixed interest ... |
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 Are landlords aloud to go into your apartment without you knowing? |
| I mean, my landlord would say he'd be down the next day when i'm there and fix something and he'd never show up. then days later he shows up when no one is there fix whatever he fixes ... |
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 This is in my new LEASE. Is this fair? |
My new landlord put this in the new lease. Does this sound normal??
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REPAIRS AND MAINTENANCE
The Landlord shall at his expense, except for the first $50... |
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 How do I deal with an overbearing and nosy landlord? |
| I rent a small place from this old couple and as much as they look out for me, the old man is constantly knocking on my door telling me to close my windows, asking what I am doing for the day, if I ... |
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 How to evict a house guest who has become a nightmare. my family owns the house, can she be forced to leave? |
| this person has stayed with me for about three months, has no job, no car, no friends and she has become a nightmare to have around. She states repeatedly that because she has lived here for more ... |
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 My landlord told me if i move in this months rent is free but i have to pay next months rent?? why is that? |
| They also want a 250 dollar fee which is fine. I don't understand why I have to pay june rent now it just seems a bit fishy. They claimed fair housing act but I have never heard of that having ... |
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 What is a good resource for beginning real estate investors? |
| I'm a beginning real estate investor, and would like to know of resources (i.e. books/people/internet) where i can get info on buying houses for resale and for rentals. But just want to gather ... |
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 House payment amount? |
| I need a rough estimate on how much it would be monthly to buy a place for about 200,000 in Southern California. Doesn't need to be exact. Just need a general idea.... |
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 I am wanting to buy a house and have found out the tenant has just signed a 12mth lease,can i get her out? |
| I am wanting to buy a house and the owners of the property have given the current tenant a 12 month lease, I would like to buy the house to live in it and i have approached the tenant who has stated ... |
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 Is it the landlord's job or my job to replace the kitchen lightbulb? |
I'm too short to reach up there, & the light blew out. I don't have any chairs or anything to stand on.
Additional Details
yes, I live in an apartment.... |
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 If you were building a moat around your home to keep your mother in law out..? |
what would you put in the moat?
Please make your answer realistic. Like I couldn't put sharks in mine b/c I live in Northern Canada.
Thankyou.... |
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 Why do estate agents list their sold houses? |
| If you look on their websites for a house you have to page though lists of 'sold' or 'under offer' houses when really you just want to see the ones that are available. Why do ... |
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 My boyfriend and I have a house, We let some family stay till they could find some other place: Sex Tape.? |
| They were supposed to pay us $100 a month, (great deal by the way) Which they have not did ever. I somehow misplaced a very personal video of my boyfriend and I messing around, which they now have, ... |
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 Just brought my 1st house, any advice?? |
| I just brought my 1st house in MD. Any advice for a young brother?... |
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Michael | Should you borrow 100% of the value of the house? |
What do you think about those lenders which promise to let us borrow 100% of the value of the house? Is there any danger?
I also want to know whether this type of borrowing will negatively affect your credit score.
My sincere thanks, |
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willow_the_witchuk
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We borrowed more than 100% and have had no problems and don't pay higher rates, but I would say go to a financil adviser, as they are best placed to help in a situation and can explaine any pitfalls. |
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Frank M
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NO. The risks: Interest rates may go up. House prices may go down. You may lose your job or become incapacitated & struggle with payments.
UNLESS YOU COVER THE RISKS. You buy for a good price (so that you could sell again immediatley & make a small profit). There is good development potential - extensions etc. You could let it out or part of it to raise extra cash & you would make a profit if you let it out asa whole.
Good luck
Frank |
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Ron Mexico
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Well, unless you are qualifing under a special govt program, then you will liking be paying PMI and a high interest rate.
I would recommend using a different lender and putting 20% down. |
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sailing4good
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no |
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Chris G
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Yes definately!
I took out my first mortgage a year ago and borrowed 100% as I didn't have 20 grand lying around for a deposit.
It is perfectly ok as long as the amount you borrow is well within your means for repaying (work roughly along the lines of your mortgage repayment being no more than a third of your monthly net income).
Go for fixed for the first few years so you are able to budget and if you can, try and repay off some of the capital as well as interest.
You'll get charged a slightly higher interest rate (mines currently 6%) but if you only fix it for a few years you can then remortgage once you have found your feet.
If your in the UK then try Northern Rock - I found them excellent.
Good luck! |
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Doug M
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Borrowing 100% on a property is done every day. There is a risk of property values declining, but over time real estate has always increased. You need to determine if renting and throwing that money to the landlord to pay his mortgage payment is better than you taking the opportunity to invest in your own property. If you check into a first home purchase, there is grant money available to you for down payment and closing costs, up to 10k! but most grants are between 3-5k (free money). Get in touch with a real estate agent who knows about these types of grants, they are out there. Some lenders will participate some won't. It will take a little digging but it's out there.
As far as this type of loan affecting your credit score...check with a mortgage lender. Every situation is different. In the past it has no affect on your ability to maintain a good credit score. Just keep current on your payments.
A 100% loan will also cost you a little more (sometimes) but traditionally the 20% borrowed for the balance (the second) will cost about 1/4-1/2% higher rate. Shop around there is good loans out there. And interest rares are dropping again, don't hesitate to do your homework, it will pay off in the end. |
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Ollie
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Hi,we took a 100 per cent morgage out in 92 from the Royal Bank Of Scotland.We got the going rate (lucky) personally I do not trust lenders that promise the earth you have to look at the APR mine is 5-95 they will charge a lot more.I have no idea if they affect your credit rating.Have you tried applying to a bank theres some good deals for first time buyers & I bet some do 100 per morgages.Looked on the net type in banks that give 100
per cent morgages theres a few that look promising.Goodluck |
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Robakai
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my gf and i are ftbs and just brought a house with 100% (move in Monday!), we did this as the 20% will pay all our other existing monthly commitments and go towards financing some renovation. Don't do it unless you have to though, the interest rate is higher. |
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Baby # 1 - April 09
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Yea, go for it. We couldn't have bought our house if we didn't get 100%. And don't worry about houses dropping in price. About 6 months after we moved into our new house the one a few doors away was sold for a considerable amount more that what we paid for ours. We don't intend on selling ours but its good to know that its worth more now.
Best of luck! |
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BillDict
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If you're buying a house that you can only afford by financing 100%, don't do it.
If you are using the extra 20% to pay off other bills - using the money to lower the interest rate your paying on credit cards, for example, then definitely do it. |
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Linda J
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It won't negatively affect your score, however if you are able to finance 90% or less you can qualify for better programs that can really help you save a lot of money. And it will leave you more equity. If you finance 100% of the value you will have no equity and may be harder to sell down the road. But it does not show on your credit weather it is 100% or not. only the amount. |
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Brent M
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Yes there is danger for both you and the lender. You have no equity in the home and could decide to walk away so that's dangerous for the lender. It's dangerous for you because if your home price drops you could be upside down in your mortgage. Unless you are 100% positive that you are not leaving for 5-10 years you should not buy with that loan. Now if prices are still climbing where you live and it's the only way you can afford to buy then do it and get rid of the higher second mortgage as fast as you can. No it won't hurt your score. Buying a house will drop your score at first until you begin a payment history then go right back up. BTW, I am a loan officer. |
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Do What
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Yeah, if you miss a payment. |
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nana4dakids
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I would never borrow 100% of the value of my home. If you do, then you have absolutely no equity in the home and won't for a while. There were 749 foreclosure proceedings begun in our county and 2 outlying counties just last month and there will be more to follow as the months come. These are people who borrowed 100% of the value of their homes using a 2 year fixed rate loan then going to an adjustable rate after that. My neighbor is one of them. She hasn't lost her home yet, but her mtg payment has gone from $625.00 per months 18 months ago, to $925.00 now and the mtg co. told her it will be over $1000.00 in six months. She can not refinance because she has messed up her credit in the past 3 years.
If you borrow less than 100% then you at least have some home equity to work with should you get into a bind later. |
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Justin
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Historically, before 80/20 loan programs, you had to put down at least 20% to avoid PMI, or Private Mortgage Insurance. PMI insurance is a premium charged by the lender in the case that you default on your home, because borrowing over 80% of the value of your home is a high-risk scenario.
It is true that most people these days do not have the ability to put 20% down on a home, I know I wouldn't be in my house if this was so.
The only danger is if you cannot afford the payment at 100%. If you cannot, and you know it, you should look at a lower purchase price.
Borrowing 100% will not adversely affect your credit as long as you make your payments on time. To be quite honest, it could improve your score after you've been making your payments, because your score is based off of your history.
You can have all of the financial "experts" tell you that you qualify for a certain amount/payment ON PAPER. It is up to you to decide whether or not you're comfortable making that payment month in and month out.
One thing you can do is take an interest-only loan on the first mortgage, and focus all of your principal payments onto the second loan, because it will always be a higher rate than what your first loan is.
Make well-timed, well-informed decisions and you'll be fine... |
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nilechnylasor
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Always borrow the least, and never gamble what you cant afford to lose, as my old dad says. It put me in good stead. My advice to any young person buying, (and I know the prices are shocking and it is difficult...even tho' mortgages are at an all time low), never borrow the 100 percent, because there is no such thing. Most properties are valued by estate agents, (a dying art by the way), check www.housladder out....and the agent overvalues so he can get his lovely fat commision. Whatever, your surveyor, who will also charge you loads, and have to come up with sommat to justify his high fee....will more often than not, tell you the place is not worth all of the asking price. It is a sharkfield. What you do is this. Find the worst house, in the best area. Slowely clean it and paint it, and tidy it. Never overprise your market, you cannot make a silk purse out of a sows ear. Best to get a little back to back terrace, save whilst you are in there, and move on up...as they say, than these stupid young self cert mortgages people who buy into what technically could or should be a third or fourth purchase. B y the way , the fourth property should always be free. You will know what i mean...good luck. what was the question........x |
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mags_rovers
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only if you can afford to pay it off. |
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Niecy
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Allot of people do that. I personally would never if I did not have too. It will not affect your credit badly, unless you are late or do not pay your bills. Lender's are always looking out for them selves. They are in the business to make money. There is always danger when dealing with mortgage companies. Maybe a local bank would be better?? I always use my local bank, I feel that looking in someones eyes versus talking over the phone is always better. For myself that is. You do what is in your comfort zone. Just make sure to check out the company before you sign on any dotted lines!! |
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summermars
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There is no way I would have been able to buy my flat if I hadn't borrowed 100%. I suppose it depends on where you are buying, to be honest, people have been going on about how property prices will fall soon for about 5 years, it sitll hasn't happened. Also it depends how long you intend on living in the place you are buying. Personally I wanted to buy, I was on my own in doing so and it was my only option. It hasn't affected my credit score to my knowledge. I tend to be offered thousands of pounds daily these days too. Good luck. |
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JJ702
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I think it would be safer to put a deposit down, as you could find yourself in a negative equity situation, also if you wish to sell and move up the housing ladder it be more beneficial if you had put the deposit down on the first house.
I don't know about your credit score but I would be inclined to think that it would be better not to borrow the full 100% of the value of the property.
Have you tried travelsupermarket.com there is a link on there I believe that you could enter your details and get quotes, I've used this site for many things such as insurance quotes, holidays, loans it searches through many different lenders etc and gives you an idea without any hard sell and in the comfort of your own home
Best of luck and think about the future , not just the here and now. |
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words_smith_4u
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No. The current value of your house will fluctuate. If the housing market continues to decline as it has over the last few months... your $300,000 house might be worth $250,000.
I believe that the credit score is based on your ability to incure debt. That said, the more debt you have, the better the score (as long as you keep paying) |
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alanc_59
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think long and hard. what if your house loses value, and you lose your job..you cant pay the loan, you sell the house for les sthan you owe, then you are out of your house and still in debt. |
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skyhigh007a
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I put 15% down and borrwed the rest, 100% is quite risky especially as house prices are rising quickly again meaning it will be countered with an interest rate increase :( |
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mortgage help
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These loans will NOT affect your credit scores.
These loans should not be pushed on those who barely qualify. That is when these are dangerous... interest only, 100%, adjustable rate... and barely qualifying is a recipe for disaster! Shame on Loan Officers who put their clients in this position. If you are well educated and understand what you are getting into, and responsibly manage your finances, there is NO danger.
http://www.choicefinance.net/ |
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