 A friend backed out of a deal and has created a huge problem, what do I do? |
| I've been thinking about this and haven't decided what to do. I'm interested in some opinions. A friend rents out rooms in his home and I heard about an opening. I asked if he was ... |
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 First time home buyer what to do?? |
| First time home buyer...anyone know of a great bank, mortage, that helps you out alot if your a first time home buyer. Is it true that there is a First time homebuyer Loan?... |
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 If my landlord charges me more for rent then the other tenants is that against the law? |
| I want to know if it's against the law for my landlord to have me sign a contract with me paying more rent then his other tenants and how do I go about the issue. It's not a fact just a ... |
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 If you buy a new house and walk away from your old one, can't they put a lien on your new house? |
| My sister wants to get a new home and walk away from her old home. Can the bank connected to the old house do anything to the new home such as put a lien on it in order to collect the debt or do ... |
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 Returning a deposit to a tenant? |
Hi
I am trying to understand the rules about returning a deposit. I have a tenant who has been smoking heavily in his room, spent about two weeks sleeping on the bed without a sheet and has ... |
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 Made an offer on a house 6 mths ago and still have no answer from the selling bank. Should it take this long? |
| We are preapproved on our loan from another bank. The house we are looking at was almost in foreclosure when we put our offer in. There are several other houses in the area going into foreclosure ... |
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 If Dow drops 300 points is it best...? |
| to find a better loan for a mortgage? If I am in a adjustable rate loan, is it best for me to stay in it or refinance to a fixed rate loan. I'm doing a research for my school, and i was ... |
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 I'll be mega impressed if anyone can answer this question!? |
| I know someone who had an offer accepted on a newbuild flat in Leeds many months back. They exchanged contracts about a month back, with completion to happen as soon as the flat was hospitable. His ... |
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 Is it a bad idea to buy a house right now? |
| my husband and i are stuck in a situation where we need to find a new place to live quickly...is it not a good idea to buy a house right now with our economy like it is? thanks for any advice!... |
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 Husband will not pay rent am I responsible? |
| My husband signed a written agreement that he agrees to pay half of the rent for our home until our lease is up in January 2008. I said he can come and go as he please, but just pay his half of the ... |
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 I want a home. But my credit score is 520. PLEASE HELP!? |
| I am currently renting a home for 900.00. i am renting from an individual. I make 3780 a month. I THINK I can afford a home. The problem is that the lady I am renting from wants to sell this one. I ... |
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 Does anyone know if there is anything i can do once a sheriff has served a vacate premises notice? |
| ok. back in oct. of 07 our 1 yr. lease was up. landlord wanted to sign another 1yr lease but we refused b/c we were in the process of trying to buy a home. well, went to court to try to get us out ... |
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 If we buy a different home and default on the one we have is there a law to stop us? |
We wanted to switch houses to bring our mortgage payment down. We talked to a realtor this morning and she was a crank and a half..so I don't believe what she told us.
She said that B... |
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 My renters claim a 'flea' problem? |
| They are new tenants. Two weeks after they moved in they claimed there was a flea problem. We've never lived there with our brood (three dogs, two cats). Also, they are the first people that ... |
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| How old do u have to be to own ur own flat? |
| e.g. rent a flat and also does anyone know how much u get when ur on the dolll? I'm not going on the doll lol !! I'm jst bein nosey .. Thanks =]... |
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 If you rent your home and pay to have pests professionally removed, can you legally deduct that from the rent? |
Since I rent, can the price for the professional pest control Orkin, Terminix or whoever, can that legally be deducted from the cost of the rent?
Can the entire price be deducted or only ... |
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 I have about $500K in savings, no income (law student), and am buying a $270K house. Need down payment advice: |
It will be a 3 bedroom, so I will be renting out, getting $1000 a month from renters. How much should my down payment be, considering my savings situations and lack of income?
Additional D... |
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John L | Who's responsible for the mass number of recent and upcoming home foreclosures? |
A significant number of people that don't qualify for traditional home loans accept subprime loans to get into a home of their own, often without understanding that their mortgage will jump dramatically.
Lenders, on the otherhand, are making loans to people that can barley make the starting mortgage and will find it almost impossible to make the payment once the mortgage increases.
Many people got into these loans with the expectation that the value of their home would increase and they could refinance, but in the current cool market it's nearly impossible to refinance.
Again, who's to blame? A person for taking the loan they can't afford or the lender that knows that the family will probably lose the house? |
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daddy_bitz
 |
Human nature is too always want more than you can afford. The big mortgage lenders can approve or deny home loans based on the buyers credit, but if they deny they risk losing the mortgage to a competitor. The last 10 years has been a free for all in the mortgage/real estate markets for lenders. If you breath, you'll get approved. The creative ways they are financing people also hurts, like interest only loans. The lenders could care less if you make your payments in hot real estate markets. Basically they can turn around and sell the house at auction after forclosure and still turn a profit.
Problem is recently the real estate markets are soft, and people who couldn't make payments - can't refi, and lenders are getting stuck.
My answer is both, the buyer and the mortgage lenders. It's good old capitalism at it's best. |
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doug s
 |
The lender is in business to make money.The borrower should be able to read and comprehend his agreement.Our schools are to blame.We are terribly undereducated in real world knowledge.We are supposed to fail.We should be so distracted by the daily grind that we don't ask that question. |
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austin_texan
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In my opinion, neither. That's like asking who's to blame for heartburn- the chef for making a spicy Mexican dinner or the diner who ordered the meal?
When the market is successful and the stocks are doing well (home builders, lenders, etc), there is room for risk (which sometimes doesn't go well).
The reasons for default are not the loan amounts, rather the economy for the people with smaller pockets- as Katt Williams said (and I censor), you shouldn't have to make life decisions at the gas pump! These are the people most affected.
Lastly, the subprime mortgage lenders are not at fault, the buyers are not at fault, but our new Federal Reserve Chairman, Bernanke has taken on a big new role and adjusted rates at a different pace than Greenspan did. Remember, it takes 8-12 months for the effects of a rate change to be fully felt- well, here we are! |
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gone fishing
|
All of the above plus...anyone who takes out a loan on spec doesn't understand the value of the dollars involved (most home prices are in the monopoly money range and few have figured this out).
The lender is in it for the money and they don't lose so legislation needs to intervene.
But don't count on federal involvement because this home buying thing is one more way the middle class is being squeezed out of existence.
If someone can come up with 10 per cent of the value of the home, they may have a chance.
But then there's health care costs which can ruin a person or family that's living just on the edge and trying to pay for a home.
A home is a huge investment and anyone considering it needs to research all the facts first. |
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magpie
 |
The predatory practices of the lending companies. I get offers from a company near my home for me to borrow $25,000.00 and would end up paying back about $90,000. people who don't understand lending that need cash can really get hosed. |
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gw_bushisamoron
 |
Greedy sellers and criminal real estate salesmen/brokers.
Real estate people are the biggest bunch of criminals I have ever encountered in 35 years as an attorney. They lie, cheat, steal and encourage buyers to submit falsified loan documents in order to get their commissions. The 10 years I spent putting realtors in jail was the best I ever spent.
As the market collapses (as it will over the next 30 months) and you ask yourself "How did this happen?" you only have to ask yourself 1 question - "Who benefitted?" In every case, it was the real estate swine who couldn't care less about the consequences of their deals, they just wanted their money. |
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Puddinhead
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http://www.helium.com/tm/226327/planning-buying-months-problems |
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mamalissa
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Cardinal forgot to credit Greenspan's boss. That was Bill Clinton, for all of you who have forgotten. |
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RONALD H
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Everyone has freewill,people should be smarter,they shouldn't live beyond there means, and they should never take out an ARM on there home, the lenders for the most part are a bunch of bloodsucking scumbags! But if people weren't so stupid........... |
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Drew
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The Realtors for making the bubble. This is how they did it.
www.breakingbubble.com
Then the scum mortgage people.
May they get ten time of everything they deserve , let there conses decide if that is a curse or blessing. |
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walkinandrockin
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If the lender knew they would probably lose their house, it is their fault. The borrower usually understands what's going on, and the lender should explain the features of the loan with them. The borrower signs a lot of disclosures and closing documents, usually explained again by their closing agent at closing so definitely has a lot of the responsibility for their own actions.
False or misleading statements made by a lender makes it their fault |
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Cardinal Rule
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Alan Greenspan, for flooding the market with liquidity. When credit is cheap people will borrow. |
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Ana D
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The lender is to blame. |
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