 How much money do i need to buy a house?? |
| this might sound ridiculous but i really dont wanna RENT as i feel its a waste of money..im 20 years old and im finishing my 2 years at a community college..i have a relatively stable job with good ... |
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 I rent a condo in Florida and the owners are now selling. I would like to get out of my lease early.? |
| Is it possible to terminate my lease early? I am not comfortable with strangers coming into my home while I am away. I feel this is an invasion of privacy. My yearly lease is up on March 1. I ... |
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 The city wants to build a church behind my house? |
| This is a residential area and there are woods behind my house. They are supposed to have a public hearing on this. I do not want the church to to built just behind my house because of the noise and ... |
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 First time buyer (interest only or repayment mortgage)? |
| i am a first time buyer, looking for a 100% mortgage on the property. i am very new to this whole idea of mortagage. i want to know whether it is wise to go for interest only on a fixed rate for 5 ... |
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 Do you think the landlord will pick us to move in the house???? read? |
well we looked at the best house, 4 bedroom in country secluded, huge house very very nice fenced in yard and all....
its 600 month+ utilities. we told him we could give him it all upfront in ... |
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 How can first-time buyers buy a home in So Cal where the average cost is over $700,000? |
| Our income is about $70,000 annually and we have no debt other than student loans. We have about $25,000 saved. In an area where an "okay" house will run you about $700,000 - how in the ... |
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 Do you think that the age of the house is important and I should be looking for newer house? |
| I Live in Phoenix, Arizona and I am in the process of buying a house. I have seen a house which I really like and it is built in 1988 but the house is in a very good shape. Do you think that the age ... |
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 Could we afford to buy land for £16,000 and build a posh property on it? |
| We're a small family, all with average wages. I myself am a full time student who also works part time at a call centre, my mum is a supermarket supervisor and her fiancé runs his own landscape ... |
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 Can they kick my out for this..? |
I have gone over my lease several time and find nothing on it about this..
For the next few months I am going to be late with my rent. Two weeks each month late. There is a late fee of $1... |
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 Do I need a Lawyer while selling my house? |
I am selling my house for cash to an investor.There is a small 15k loan on the house.This means the bank will be involved in the transaction.
The investor is doing most/all of the paperwork.
... |
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 I found evidence of someone sleeping in my new apt, when I went to leave the mattress.? |
| We had been there earlier today to clean and wash windows, etc. I locked all of the windows and the door before I left. Late tonight I was given a new bed by a friend and deceided to take it to the ... |
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 What to do what to do!!? |
| My credit score is at a measely 529 right now. A few yearas back i drowned my self in credit card debt totalling $5,000 that i couldn't pay back at the time but over the past 6 months i just ... |
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 How do i make 1000 dollars in two days? |
| I'm a single mom rite now with two kids and i want to move to this really nice house. I will have money next month but not right now i'm on disability and can't go back to work till ... |
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 Who can help me with my tenant/landlord issue? |
| i have lived here for 7 yrs.+ and have been asking my landlord to fix things for at least 2 yrs. and have gotten some stuff fixed after constantly asking .anyway 4 to 5 of my electric outlets are bad.... |
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 I need help purchasing our first home...but don't want to get in over my head...? |
| I live in southern california. I am looking to puchase a home but dont want to spend more than 300,000 with a 6% interest. Last year my husband and I made 60,000, but this year i expect to make ... |
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 How can I get rid off my roommate without getting lawsuit? |
| I just bought a house and I decided to rented out one bedroom to a 40 years old female. She does not pay rent on time and she is making excuses like " I'll pay you the next week" "... |
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 Will california house prices ever go back to cheap? |
| i was wondering because i moved out of state, and really want to go back. but im afraid of taking my whole life to pay off a home. compared to other states with cheap ... |
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 Help for mortgage, independent financial advisor and putting in an offer on a house.? |
I went to 3 banks for mortgage quotes, halifax, hsbc and alliance & leicester. Halifax could borrow me the most money, then hsbc, and then alliance & leicester.
I then looked around for ... |
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love_moon_bb | What to do with an Adjustable Rate Mortgage? |
What can I do with my Interest Rate that is now variable? Now that my property decreased $15,000, the monthly payment is now way higher, I don't want to pay the mortgage anymore, and I can't pay two houses at the same time, I don't know what to do if I want to cancel everything is going to cost me about $50,000, and the only choice I'm aware of is declare bankruptcy and my credit is very good, and I don't want to do that, I need help. |
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Mark T
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See if you can convert your mortgage(s?) to interest only for now - it will greatly reduce you monthly payment.
As for property decreasing in vlaue - in what way does this make your payment higher? I can appreicate the TEMPORARY loss of equity - but the only thing that should increase your monthly payment is an increase in the interest rate.
Interest only mortgage should save you (very roughly) about 25% assuming you have a typical duration mortgage, even more if your mortgage is a short term one.
You really ought to speak with a financial adviser OR talk with someone from the mortgage company, taking advice from Y!A over something this important is perhaps not the best plan possible - which includes MY thoughts - speak to a professional - and mention any ideas that people throw up on here that seem like they might be worth discussing.
Mark |
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ADAM K
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If you cannot afford to keep the house and do not have any equity in it, see if the bank will take a short sale. That is where they take whatever money the house sells for as payment in full.
You don't want to file bankruptcy. |
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Jennifer P
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You can try to refinance your home to an interested only the payments will be lower. There are basically two reasons why your payments are higher is one your rate is alot and also that the taxes (if they are included in your mortgage payment) increased. You don't want to go into bankruptcy it will hurt your credit especially if you have good credit. Also are you taking a guess that the property value decreased?? Or did you get it appraised? If you have any questions please do not hesitate e-mail me |
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Sophiesmama
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either refinance to a fixed rate mortgage, if you have enough equity, or sell one of the properties. |
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Swan
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Can you refinance the mortgage? Does it have any clauses? I cant believe banks are still pushing these programs!
Try to get it refinanced to an non variable rate. As for the decrease in property value not much you can doe about that. You say you have two homes? Sell one ASAP. THe market is going to get worse before it gets better. Good luck! |
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HARRY F
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There are a couple of things that you can do and that is file for a chapter 11 or 13 to reorganize your debt. The other is do a short sell on the property that way the bank most of the time will forgive the debt or you will have to pay a minimal amount when you negotiate with the bank. I would advise you to seek legal counsel and talk to them about the two things that I mentioned above. You will feel relieved once you have taken care of that headache. |
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Lonnal W
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The above answers are very informative, and a way to go.
There is another way, I have used in the past, to help other people, when I was a real estate investor, buying / selling & financing homes : Check around for a mortage company that will do A BALLOON NOTE- MORTGAGE. This is a special type of financing, some with a variety of options.
Generally, they CAN work like this : Lets say that you bought the home 5 years ago, and financed $100,000.00 at 5 % A.R.M., 30 years(360 months), P.&I. only payments %536.82 per month. Now, 5 years later, the note is ( ABOUT) $91828.73 Early and /or late payments will make a lot of difference. To refinance the $91828.73 and add the additional fees / closing/ refinance costs, etc at $5000.00 on a balloon note to mature 5 years in the future, the payments will be $374.22 (every thing exactly as displayed). BEAR IN MIND THAT A BOLLOON NOTE IS ALSO A VERY DANGEROUS CONDITION, IF THE R.E. MKT. CRATERS BEFORE THE BALLOON IS DUE !!!!! ( adjust the figures to accomadate your situation/ condition.) There are banks / mortgage companies doing a lot of advertising about reducing payments (on t.v). now, and I would, at least contact them, HOWEVER, NEVER- NEVER JUMP ONTO THE FIRST THAT OFFERS WHAT SEEMS TO BE YOUR SALVATION !!!! REMEMBER? YOUR CURRENT MORTGAGE COMPANY SELLING YOU A BILL OF GOODS, THAT SOUNDED GREAT, AT THAT TIME ??????
USE YOUR OWN DUE DILLENGE, AS I AM VERY SURE THAT WITH THE HUGE QUANITY OF HOMES IN YOUR PREDICUMENT, AND THE 8,000,000 + FORCLOSED HOMES IN THE USA, ( about $1,200,000,000,000.00 (1.2 Trillion)THERE ARE SOME RIP OFF ARTISTS AROUND !!!
LAST, BUT NOT LEAST, PLEASE SEEK - SEEK - SEEK AN INDEPENDENT, WELL EXPIERENCED, FINANCIAL ADVISOR.! BESY OF LUCK TO YOU AND THE MILLIONS WHO WERE CONNED, IN THE PAST !!!!
Uncle Wil |
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Rony
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Nek said. The 2 cheapest & best mortgage comps. Here.
http://all-mortgage-calculators.blogspot.com |
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