 Homes in Foreclosure!? |
| What are the requirements and steps taken in order to buy a foreclosed home? Has anyone done it and been sucessful? It's it worth it to try and buy a foreclosure as a young couple? Are there ... |
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 Is a cosigner frowned upon for a mortgage? |
Last time I looked at my credit score it was in the mid-high 500's. Both my parents and inlaws have offered to cosign for a home loan and both have stellar credit.
A friend who used ... |
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 What is the procedure for a landlord to evict someone from their apartment? |
| I am wondering if the laws differ in every state? Also, how long does one have to come up with the rent before an eviction notice is served? I don't have 2 nickels to rub together and the new ... |
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 Parents would like to sell me their house below market value with monthly payments no interest is this legal.? |
| I have 3 Siblings and have been living in the family home for 20 years. All of the upkeep have been provided by me my parents has agree to sell me the house for only $20,000. I have been searching ... |
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 How much do banks usually lend for mortgages? |
| Let's say I make 50K and want to buy a house. I'll put 50% down in cash, but how much do banks generally lend people, and is there a formula for calculating that amount?... |
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 Our lease is up what do we do with all our stuff!? |
| We are moving out of our current apartment and into our new one. however, our lease is up on the 25th and we cant get into our new one until the 1st. what is a good idea of things to do with our ... |
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 Re: Penal Code 602.5. I evicted a tenant from a 9-plex. Is it considered trespassing if she visits a friend? |
| If a tenant was evicted from a 9-plex, and she visits a friend who is still on the property, is she effectively trespassing? I own the property and I don't want her anywhere near it. But she ... |
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 Question for realestate agents.? |
| The realestate market in my city has hit an all time high. Because of this the cost of rental houses has also gone up. The market is now balancing off and slowly starting to go down again. My ... |
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 Is this an emergency maintenance issue? |
| I live in an apartment building and over the weekend my bathroom ceiling started to leak. It also looked like part of the ceiling was drooping. It would stop for awhile, then it seems like when the ... |
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 Tenant doesn't want to pay the rent, and she refuses to leave. How can I retake my property back.? |
| I have a second home that I use it as a renting one. My Tenant has been there for 7 months and everything is good til 2 months ago, when she said, she doesn't have money to pay me for this month ... |
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 I bought a house almost one year ago, What is equity? |
Where to start or where to go to open an equity on my house?How does it work?
and for what is it good for?
Can I pay my credit cards with it?
What are the good and bad parts about it?<... |
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 Does this seem legal/moral? |
| My husband and I rented an apartment and had trouble with the upstairs neighbors. We called the landlord three times over the issue, and our last call about it ended with her telling my husband that ... |
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| What should i do? Need expert suggestions please? |
| I want to buy a new house, but I still have to sell my old house. I'm afraid that I won't be able to sell the old house soon enough and I would have to worry about paying monthly for both ... |
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 I have a tenant that won't pay? |
| I have a tenant that has hired a lawyer and stated that she will not be paying me my rent for October & November, plus she wants her full security deposit back. Reasons behind this behavior: We&... |
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 How can you get a bank loan for a house when you don't even have nearly as much for collateral? |
| I was looking at a book about real estate investing and it says you can take a small amount of money (Example:$10,000.00 and have the bank give you a $70,000.00 loan added to your $10,000.00 and you ... |
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 No credit - wanting to buy a home? |
My boyfriend and I want to buy a home that is not over $200,000 with maybe like $5000 at the most down, both of our credit is horrible right now, being repaired from stupid things in the past.
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Frank L | Why does my lender want to see my entire bank statement for the last 2 months? |
Is it not enough to just show the cover page of the statement that shows the opening amount and the closing balance? Why would they ask for the entire statement the shows all transactions in the statement month? Is that necessary? |
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B
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They want to see what your spending is like and what you have at the end of the month right? To see how financially responsible you are. |
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roshariouk
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They need to see your spending patterns to make sure that you haven't just borrowed money to make you account look good - so they want to see proof that you're paying in a salary or regular amount and that you're not going overdrawn massively every month - i.e. you have the means to make regular payments. I'm surprised it's only 2 months. |
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Billie
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they want to see everything |
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Dawni Do Right
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Spending habits: NSF fees, overdrafts, how much of your paycheck is deposited, are you making a lot of cash withdrawals... They like to see the whole statement. |
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J. Philip Real Estate
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Banks want to get paid back. In a nutshell, they want to discover irregularities or troublesome financial patterns that might be an issue in the repayment of a loan.
When you signed your morgage application, in the declarations section you were asked if any of the downpayment was borrowed, if you are delinquent on taxes, or if you were liable for child support. These are matters that affect your debt to income ratio that DO NOT show up on a credit report. Larger deposits flag further questions and likely require a letter of explanation, as do systemic patterns of withdrawls that don't add up in your other financials, like alimony or private debt repayment.
They want to see everything-bounced checks, 2 weeks with a $10 balance, everything. Lenders are also worried about "mattress money" and loans other than their own related to the house. They don't just want to verify your funds and income- the underwriter reserves the right to have larger deposits and withdrawls explained. |
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fold_em83
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Yeah, they want to see it all. And you'll be lucky if they don't ask for more. When I bought my house, I think I had to give the last three months and then right before closing, they asked for the last three months again. Plus, they wanted the last month's worth of paycheck stubs from both my employer and my wife's. I have good credit but my wife has no credit so she had to produce statements from the utility companies to show that we had been paying all of our utilities on time as well. Plus, they made sure we didn't have any outstanding debts in collections. I think they only thing they didn't ask for was credit card statements. It kind of felt like an invasion of privacy but on the other hand, they were about to sign a check for six figures so I figured they had a right to find out what they wanted to know. |
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moni
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ya. it is very much necessary. it helps the bankers to understand your p&L and BS at the end of the year. they get an idea about your income (from salary credit entry) and your expenditure pattern and the closing balance tells them about the surplus cash with you at the end of the month. this tells them whether you would be able to service the debt or not. its a absolute necessary and logical requirement from the bank's side. |
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secondarytradedesk
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Activity. They want to get a 2 month average for the minimum balance needed to calculate reserves (savings). Also may want to support your deposits and beware ....many a loan was lost to NSF charges showing up after the borrower was thought to be in budget. |
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Jason B
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when the loan is sold on the secondary market (wall street) it has to meet a standard and this is that all the pages of a bank statment are in the file. Dont even care if the last page is blank still need it. You know what is on that page but the other end does not. |
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