 Are you supposed to get your real estate agent a gift after closing? |
| We just closed on our first house. Is it customary to give a gift to the real estate agent? If so, what is appropriate? Thanks!... |
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 Is my landlord right? |
| I had a year lease at the apt that i moved into. My landlord ended up beening a slum lord so i moved out before my lease was up. I still mail him a rent hek on time every month. When I moved out of ... |
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 I am doing my 2-month walkthrough of my new home. How picky is too picky? |
| Should the light switch panels that are right next to each other be at the same height (they are about 1/8" difference.) The subflooring is very squeaky. I have lived in many different houses ... |
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 Why would a landlord need to check exactly where your money comes from? |
See I wanna move out and I was told in order to sign the lease, they must know exactly where you get your money from. Is this right? And if so, then how can I sign the lease without a job?
A... |
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 Is it a bad idea to buy a foreclosed home? |
| There are so many foreclosed properties about lately that I feel like it might be worth looking into for my first home. I know I'd need a realtor and I'd have to hire an independent home ... |
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 Tenant asked if she can run a childminding bus at the flat. I am cool with it but Any thing I should be doing? |
Additional Details
She will be responsible for bus rates etc, I wondered if there was anything I needed to do to protect myself.... |
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 When using a realtor how fast should you expect them to be available to show a house? |
| I am finding my own houses by looking on line which I am fine with....and driving by to see if I want to look first. THEN I am calling her to make appointments. Am I being too pushy to expect an ... |
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 Should Roomate Help pay bill? |
| Okay, our lease is up for our apartment Aug. 31st. My roomate is planning on moving out at the end of july. Should she still be responsible for splitting the cost of the electricity bill with me? I ... |
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 Is it a good time to buy a house right now? |
With the housing market bad right now, is it a good time to buy?
I keep hearing it's a buyer's market, but I also hear about horrible things with the economy. Freddie Mac and Fannie M... |
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 Question about renting apartments? |
| Ok, let's say I fill out an application to rent a place and I don't get a call from the landlord for 2 bussiness days, should I assume I wasn't chosen to take the place?, if so, does ... |
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 Isn't that what a security deposit is for? |
| I have lived in my home for 4 years. I call it a home, because it is not just a house. Recently, my dryer stopped working. They had it repaired, and said I would have to pay the bill because I had ... |
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| I live in Norhtern Virginia Any one help me to avoid Foreclosure I cant make the payment of the mortgage? |
| I applied for Deed in Lieu, but the Lender delay it and went just for the Foreclosure. I have no idea where to go with my family in our Prince William county where the service are so bad. I called ... |
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 Can my landlord just raise my rent? |
| I dont have a contract anymore and have been living in my house for two years. Is there anyway I can stop him from increasing my rent? He has given me a months notice.... |
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 Is my landlord responsible? |
| The people underneath me decided it would be a great idea to grill out on the patio. All my windows were open and for one straight hour my house filled with smoke. I came home, found the smokey ... |
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 I read that house to income ratio is 28%, debt to income is 36%, why it's so low, what is the other 64% for? |
I am looking to buy a house.
I have some credit card debt, income about 60K a year, how much home price can I afford? Is it around 180K?
Still I don't understand about only 36% allow ... |
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My Hubby's Be Be`♥ | Why are there so many homes going into foreclosure? In this area where I live I see quite a few? |
So do you think it is obvious homes were HUGELY over priced and sold to people who could not afford them in the first place?
When will this nonsense stop?
Additional Details
IF the lenders know some cannot afford it though, and know the chances of them going into foreclosure are high, why do they lend anyway?
Who wins here?
I am sorry just a lil p'od because we have still not purchased our own yet out of this kind of stuff going on.
Waiting for the market to offer decent rates and prices or rent forever... |
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Christiane
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There are so many parts to the answer...Some of the problem is due to mortgage fraud, some due to the subprime mortgages offered to people that could not possibly afford the loans, some due to no money down loans, (ie. no equity in the house) some due to the Federal reserve lowering interest rates for too long making money too cheap, some due to appraisors who inflated values of homes, some due to Wall Street that bundled and sold the loans into portfolios and now they cant be undone. The bottom line is that we a ll contributed in one way or another. It is called greed!
We have a perfect storm and unfortunately will have the aftermath of this on our plates for a very long time.
Then next perfect storm is predicted to be the credit card bubble... If that bursts soon we are in for a very long protracted recession...Most Americans have high debt and little to no savings...a perfect storm! |
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bostonianinmo
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In most cases the original lender is long gone. They bundled blocks of loans together and auctioned them off on the open market to the highest bidder, took their profit and ran.
The investors who bought them were dazzled by greed and the high rates of return assuming that the borrowers would be able to make the nut. In most cases they didn't review a single loan before tossing their money in the pot. When you chase a high risk investment, you need to be prepared for the worst! The rest, as they say, is history. |
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lilfoot7910
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No money down low rates that is why |
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Linda S
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I don't know your area. But I am in mortgage and lenders never loan more than a person can afford. People want more in a home than they can afford and they don't make enough money or they spend to much money to save for a "cushion". Every one needs a "cushion", a savings account that is six months of living expenses in case you lose you job. That is why there are so many foreclosures, people spend to much money, they must have new cars and credit cards a mile long and all of the cards are at the spending limit. Take a lesson from this and learn to live in your budget and make sure you always have a financial cushion. You would always be doing better than most people if you do this.
When the lender loaned the money the people were not so much in debt. It is after they buy the home that they create to much debt by getting the new cars to many credit cards and not saving money. They want to buy all new furniture and send kids to private schools, they live past their ability and feel that they should because they own a home. But really the lender owns the home. |
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Emily Dew
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It's our instant gratification society that allows people to live a lifestyle they can't really afford. My sister bought her own home a few years ago and my husband and I went with her to the mortgage lender. Heck, with some of those creative financing programs they offered her, my dead grandmother could have bought a home! Fortunately, for my sis, she wisely chose a 30 year fixed. |
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deb2rule
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Yes, it's that home sales are too expennsive and people can't afford to buy right now. The market stinks and their are a lot of foreclosures due to the fact that people can't pay their morgage. I have heard of a subdivision in Colorado, that have many homes in foreclosures and sitting empty because people can't afford to pay their morgage or buy. We are all hurting. Look at Michigan, it's a hurting State. And my husband are renting and paying the same rent since we moved. Even rent is getting up there.
It won't stop unless people can find better jobs or the infiltration ends, whenever that is. |
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ali
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To get a loan, lenders have to look at your credit history, from one of the three credit bureau's, well sometimes if that person has no credit such as a person who has never had a job, or just bad credit, the lenders sees that persons parents have excellent credit,so they give person the loan hoping the person pays them back. Now the borrower/house buyer has bad or no credit so they don't have much experience with loans and credit, so they sometimes they don't pay their monthly bill they owe to the lender. And after they don't pay their bills a certain amounts of times, the lender takes away the borrowers home and puts it for foreclose. This is why many homes are forcloseing right now. Becuase there lenders are gambling on if borrowers who have no credit history to pay them back. The good news is that this problem should slow down, since now lenders are losing a lot of money becuase they have to forclose house for less than the they lended. So they learned their lesson.
There are many reasons for the rise in forcloser but the one i listed above one of the main ones. |
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Rick B
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It has. It is very hard to get those types of loans any more. The lendors learned their lesson. Hopefully the potential buyers out there will learn the lesson to and start buying what they can actually afford. |
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Josie826
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At the time the loans were made, maybe the people could afford the house. The state of the economy is pretty poor right now, especially in some states. I live in Michigan and the auto companies are in very poor shape right now and people are losing their jobs in record numbers. Michigan's economy basically revolves around the auto companies. We have a house right next door to us that the people just closed the doors and walked away from. They could not afford to live there anymore. |
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chris l
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the lenders will sell to anyone. they get a good down payment, after a while the people realize that they cant afford it, so they foreclose and sell to someone else. yes its obvious, and the only way to battle that is to quit buying homes. if everyone would do that, the prices would go down. |
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Samirah
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It was those variable interest rate or adjustable mortgages...they stopped using these. |
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