 Why is it that adults know how to buy their own house and cars etc...? |
how will they understand stuff like buying houses with mortgages, loans, payments etc...?
why dont 15 yr olds understand it?
how do they learn?
what age do they start to buy ... |
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 Am buying a new home? |
| to buy a home we have several types of loans.i want to know all about them to find which suits me.are the intrest rates in the next few years going down or up? which is the best type of ... |
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 IS 2% Fixed interest over 30 years a good rate for a home loan? |
| I got this offer in my email box the other day from http://get-a-home-loan.n Is this a good deal for a home loan?... |
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 What do we do now to purchase a home? |
| With all that is going on w/ the stock market and home buying, what do you suppose a married couple w/ an credit score of about 530, should do to purchase a home. How much would we need to put down ... |
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 I sold my house but they are not making the payments? |
| I sold my home in nevada and moved back to texas. The person who bought my home was suppose to move in and keep up the payments but just yesterday a neighbor called me here and said that someone has ... |
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 I have four kids and need help? |
| is there a web site which i can apply for free housing,food,colthing and furniture vouchers.and im not lookin for a hand out but i really need help ... |
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 I was wondering the list of bills one has to pay when living on their own? |
| I'm currently looking to move out of my parents house, but im not sure if i will make a enough money with my current job status. I was wondering of someone could give me a list of bills they ... |
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| Would You Buy A House Where Someone Was Murdered Inside? |
| I was wondering if perhaps this could be an easy profit? I read that houses where someone was murdered are normally purchased at deep discounts. So if you bought the house and then rented it out ... |
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 I've got some guy in my office who is yelling at me and the managers are gone how do I handle this? |
| Ok when the two brokers are gone i am in charge there is a closing going on and the agent from the other office keeps yelling at getting upset at everyone and has now started yelling at me. How do I ... |
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 Can a landlord come and take your stove? |
| my landlord came and took my stove dishwasher and microwave is that ... |
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 Selling, do we counteroffer again? |
| We listed the house at 105,000. Had a buyer, but her financing fell through. A month later, (2 months on the market) lowered it to 100,000. It is the lowest in the neighborhood, and has new roof, ... |
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 Somebody told me that CONDOM is short for CONDOMinium. Is there any truth to that? |
| I am very naive and will believe almost anything anybody tells me, so please help me out here. If I can avoid it, I don't wanna spend thousands of dollars for a unit that might be lacking a ... |
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 My landlord did not return the security deposit? 10 points for the best advice. Thank you? |
I moved out 2 months ago because she broke a verbal agreement.
She only own me $150. I don't need the money, but I hate to see she gets away of lying and taking advantage from me and ... |
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Val S | Why can my children not get a mortgage? |
both my children can afford to pay a mortgage but because they have no deposit no body is interested in lending them money,now there is an awful lot of people in the same position,if they rent somewhere they will never save a deposit it does not make any sense at all |
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sunshine
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I know what you mean me and my husband are in the same position we was renting for a while but we have had to move in with my parents so we could save up and we have an autistic son who is 6 too we have been on the council list for 4 years now its impossible and heart breaking ! |
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Gordon B
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I agree it seems unfair, but I'm guessing that the lenders want to see evidence of the ability to manage money effectively, and the ability to save is one such measure. |
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JOHN F
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Its a tough cycle alright but the must try to get a deposit ,beg,borrow or steal.I am sure the would get a 100/% mortgage if the shopped around |
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booger0819
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tell them to save all the money that they can get their hands on...then buy a house smaller and less expensive than they need or want maybe even a fixer-upper, make some payments on it, then sell maybe at a profit or keep it for rental property and mortgage IT to buy the house they want. |
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Lannie K
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There may be more to the story then what they are telling you. I know that every state I have lived or worked in there are many types of "creative financing" The owner of the house can charge $5k more then asking price, the buyer agrees but the extra $5k is actually put towards the down payment. That is just one of many things that are regularly done to make it work. |
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CLIVE H
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The problem is that the average house price is rapidly approaching the same as ten years salary for most people.
Buying an average house priced around £250,000 means a deposit of at least £35,000 to £50,000 plus. Otherwise the monthly mortgage would be massive and the mortgage needs to be paid of in twenty five years.
There is talk of extending the mortgage period to thirty years and more. Problem with this kind of thinking is we could end up with a situation like Japan, where a person buys a property on a one hundred year mortgage and never owns it in their lifetime but passes on the burdon of paying the mortgage to the family.
Unless there is a house price crash, the most likely future for the housing market, is that prices will continue to climb. I saw one forecast which suggested that by 2020 the average house could cost half a million pounds.
Take my house as an example. At time of purchase back eleven years ago, the housing market was banging along on the bottom. My house then cost £116,000 - it is now valued at £480,000. That's in just eleven years.
Yes, I know it's crazy, but there's nothing we can do but hold on and see what happens. Thankfully I have paid off my mortgage and am now retired. If house prices crash by 50% I'll still be looking at a profit.
The only way I can see your children buying a property is if they collectivise their efforts with a group of people and buy a very large property, say a six bed Victorian house and all live in it together sharing the mortgage and bills and all owning shares in the 'business'. Quite a few people have been doing this over the years. It works. |
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proud walker
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This is where a lot of parents take out a second mortgage on their own homes to start their children off. Others live at home for a time and save like mad. |
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ALSISON M
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Tell them to take a small step before they make a large step. Take out a bank of scotland loan and keep up the payments over a year to prove they can make the regular payments, then go with the same bank for the mortgage. |
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Peace
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In order to start on the right foot they need to have a deposit. Foreclosures are at an all time high, and no bank wants to take a risk on people that can't even come up with a deposit.
I blame the government for not regulating the housing market. |
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DougyBoy
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it is tough but better than ketting caught in negative equity should prices go down. Try & fing a rent to buy scheme. Bown is going to encourage these. |
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godged
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There are plenty of First Time Home Buyers programs that are no money down loans.
Some programs will allow the seller to contribute to closing costs, which means the buyers have to closer to the seller's asking price, but sometimes that is what it takes.
I just got a young couple into a house, and there only out of pocket expenses were the $500 escrow deposit and an appraisal, which was $450.
Have faith, it can be done. Have them check with local lenders with company names you recognize, like Countrywide. |
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My name's MUD
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OK, so remortgage your own property, this will help when it comes to inheritance tax, as you will be 'gifting' your children the money.
Now if they only need a 5% deposit you may need to borrow around £10,000 oe more, and over 15 years this will be £80 per month for you. There are some benefits for you for your mortgage being put onto a longer term, as this will mean that your life assurance policy will pay this extra £10,000 off should you (or a partner) die during this term which you should cover for, plus your own credit ratings will be better because you then have some more years to run on your mortgage which will help you get loans/hp etc for a car/holiday. And you can also borrow more to make improvements to your existing property, which will then be worth more when the work is done, so then when you downsize it later on, you will have more in the bank at that point and make your £10,000 back in profit.
In any case they can all re-mortgage at some point say 3 years later, and pay you back the money you lent them to start up which is a small amount in comparison to the house price. |
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shih tzu lady
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My daughter has just got a mortgage with her partner and they have no deposit. You have to shop around for mortgage offers. It really depends on what they earn. Watch out for the fees they charge though for set up etc. |
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onchari2001
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Me and my husband just a got a $600,000 house in Nj with no down payment. Things are changing and financiers are realizing that not everyone has money for the down payment. Call around and look at mortgage bankers, they are more helpful than mortgage brokers. |
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