 Can someone recommend an excellent mortgage broker to me? |
| I live in Oakwood Village, Ohio. I need to refinance my home this month. The last mortgage broker I went to did not do a good job. He did something wrong. I have an adjustable rate. After doing ... |
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 There is black mold all over the house I rent, and I signed a 3 year lease, can I get out of it no problem? |
| The mold is on the celiings, floors, windows in both of our bedrooms and in the bathroom. Our veterinarian said our animals can get respiratory problems and at the hospital I work in the infectious ... |
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 My neighbors yard is trash, tvs car parts you name it. What can i do to get my neighbor to clean his yard? |
| Who can i contact, i live in mount airy NC and there house is not zoned for business and fixes cars there plus he is on disability?... |
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 Holding back rent payment.................? |
| I can't seem to get anyone to come fix my toilet. So I'm thinking about holding back my rent payment until they do. Can I legally do that? I'm on a month to month lease, I live in F... |
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 Should I get a home inspection done? |
| Property values in my neighbourhood have skyrocketed. I bought a fixer upper 4 years ago, did about 45 to 50 k in upgrades including new bathroom, new kitchen, new roof, new 3/4 copper pipes, ... |
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 What's the most ethical way to split the profits? |
| My mom and I are looking into buying a condo and selling it in five years. This place is approximately 100,000. She is planning to put down 40,000, and I will be making all of the monthly payments, ... |
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 Should I go forclosure??? |
| I bought a condo 2 years ago and finaced 100%. My interest was fix for the first 2 years which is due on Sept. I have heard that it will go upward after this period. Recently i have my hours cut ... |
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 At what point is a real estate agent being a bully and at what point are they helpfully guiding? |
| My fiancee and I are buying a house that is livable but needs a lot of work. All parties in this deal know this. The seller's agent is being abusive since receiving our home inspector's ... |
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 Shall we pay more for renting a house if other people move in? |
| We rent a house (2 of us) for 450 a month. Now my brother and his girlfriend would like to move in. Can the agancy say that we have to pay extra? I belive we rent the whole house for 450, regardless ... |
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 We rent a house. The landlord is going to repair the plumbing. ? |
| We have been told the water will be off to our residence for up to 1 week. Our family consists of 2 adults and 3 children. Also, both adults (myself and my daughter) work at home. Does the ... |
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| Do sellers ever allow prospective buyers to rent first? |
| My husband is getting a windfall in February and we have just started looking, we have found the ideal house for our family. The house has been transferred to the two grown daughters of the origional ... |
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 HOW CAN YOU BREAK A LEASE AND STILL GET YOUR DEPOSITS BACK? |
| My fiancee just moved in to our apartments a month ago exactly yesterday. the 15th and we have to move to texas A.S.A.P. we paid $200.00 deposit plus a additional deposit of $731.00 that is almost $1,... |
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 Putting an offer on a house? |
| I put in an offer for a house today for $260K, it has been on the market for 60 days at $285K, and saturday it was lowered to $269K. They had an open house yesterday, with a lot of traffic, but the ... |
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 Is an 80/20 type of loan the same as a "subprime" loan? |
I am getting my first home and with all the bad news going around regarding lenders, I am wondering if this two types of loan are one and the same.
thanks.... |
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Yankeefan1986 | Why are people buying houses they can't afford? |
Paying intrest only sounds great to all these people so they can buy new houses for monthly payments fraction of the cost but that only lasts for a limited time and your then going to pay the full monthly payments which then about triples the amt you were paying. This is why so many houses are going into forclosing right now. This is what is causing tons of companies to go under and people to lose their jobs. Stop buying houses you cant afford!
Additional Details
For those of you who blame the banks are wrong...You grow up learning read and understand everything before you sign anything. Its the peoples fault for not understanding....I would think making a class in highschool to teach us about loans and mortgage would be nice but there is alot of books to read to teach you. |
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TheMom
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I am in total agreement. I am amazed at how many people do not think ahead, they want it all right now, and give no thought to how they will pay for it.
Hopefully those people will loose their homes, go back to renting, and this will never happen again.
I think the whole country now realizes that the sub-prime thing does not work. People have bad credit by choice and will not change their bahaviour even when given a chance to have a home. |
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Gunner
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Because the uninformed do that, and are only concerned with the monthly payment.. The real question is why did the money lenders lend the money to unqualified people? |
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lunatic
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The same reason people smoke cigarettes when they know it will make them sick and be a burden on society due to increasing health care costs. |
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gbravo04
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Seeing it from the buyer's eyes, it wasn't so far fetched... You were told by a high pressure broker that you could get approved for a real low rate loan that had your payments way down during the first five years and when it was time to pay the piper with the increased payments in the sixth the typical sales pitch was, "Don't worry, you come back with me and I'll refinance you on a new loan and I won't even charge you for my services" along with "Besides, look at the market, your house will be worth twice as much in six years... hell, you'll probably be able to take money out of it at the refinance" Of course, then reality set in and the housing market corrected for the huge increases in house values from the last few years and voila, no one will refi you and the slick broker that sold you the "creative" loan in the first place is either bankrupt himself or is somewhere far, far away with all the money he was able to scam. You can't blame people for dreaming and being sucked in by a bunch of slick sales people. |
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great_and_mighty_adam_levine
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Simple. People don't budget.
They go to their realtor or mortgage broker, and ask 'how much house can I afford?' The professional runs their numbers, and gives them an answer.
Of course, that answer is the largest, most profitable answer for the realtor/mortgage agent.
Then, the customer believes them, because it is what they want to hear - that they can afford that $350,000 house.
This is wrongheaded on both ends of course. The buyer should determine how much they can afford BEFORE consulting an agent, and the professional shouldn't sell homes the buyer clearly can't afford. However, both fall into the pit because it means a bigger house for the buyer and a bigger commission for the seller.
This strategy is similar to going to a used car dealer and saying "here is my bank account, what car can you give me".
-->Adam |
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charley_bbabbitt
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You are 100% right, but too many think debt is the american dream. |
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From ABOVE
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People just do not think right!
My people our destroy by the lack of common sence |
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Mrs Apple
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I agree with you on this. Too many people are attracted to purchasing houses to fulfill their dreams, but they're purchasing houses that cost more than what they make in a month.
My uncle had an argument with two of his sisters (these sisters have their name on his house), so he decided to move and stop paying mortgage. Someone gave him a good deal on rent for a house three times bigger, so he started renting it. Later, the landlord stopped paying for mortgage and told him that he would either need to move out or take over the mortgage and the house will be his. He's a family of 7 with only one income. Since my uncle has bad credit, he asked his relatives to put their name on the house. No one said yes. I believe this is a good thing, because he'll mess up everyone else's credit if he doesn't pay mortgage. In the past, he couldn't afford to make the payments on his car and it was towed. Later, my aunt lend him the money so they'll have a car to drive his kids to school. I believe he's trying to make himself feel good by living in a big house and driving a mercedes. I wouldn't help him because I know it'll mess up my goals. |
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I_Love_McRedneck
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I agree with you 100% BUT your question is more of a rant. Surely someone who recently had their house foreclosed on will read your question, take offense, and report you. You might want to re-word?
I think if banks wouldn't have been greedy and just didn't pass out creative financing loans like candy, this situation would have never happened. They're more to blame than the inexperienced first time buyer who has stars in their eyes at the thought of bring approved to buy a house they didn't think they could afford. Believe me, lenders can make things seem all rosy when they're not. Sure, each person should investigate before making such a huge investment, but it is really hard to find someone who is on YOUR side and can explain things to you. A lot of people feel they got conned. While they made the mistake of signing something they didn't understand, nobody took the time to tell them otherwise. It's a sad situation and I really feel for the people who got hurt by this. Let this be a big lesson learned - you can't make an investment inthe hundres of thousands of dollars without doing your homework first. |
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carmen m
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People yes are buying houses, but the problem isnt the people. but the banks, first no body explained what was an arm to regular people and also they were not interested in people knowing how it did really work. Banks to attract more people because they had money and wanted to lend, so more fees etc etc. invente the arm whinch is practic is a fraud, and the government should have done something about it. it works like this, first yr the interest is 4% , and then the bank could increase after 12 months to 5, then to whatever the bank wants, so if you started paying $3,000.
then you will end paying 7, 8, 9,000.00 so for one family is toomuch but nobody knew because savings and loans didnt want yo to know, we allways though it was like variable, that in its life dont increase more thatn 2 1/2 points, was a new version, and now banks and getting back the houses, shame on the banks that are taking the dreams of people and a safe place where to sleep. Also the government should do more, this is USA no a 3rd world country, but they are the rich people and can get away with murder |
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