 Landlords/tenants, (UK) does this sound right? |
| Im moving into a new flat in December, and my landlord (a company) has asked for a month in advance and a months deposit, which is fair enough, but they have also asked me for a £60 for a credit ... |
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 Does the landlord have the right to inspect monthly? |
Additional Details
The situation is, I live in an apartment complex where half is hud assistance. In my case, I get no assistance. Please Help!... |
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 We have a 1st and 2nd mortage on our house. The house is worth $150 and we owe $220 Can we forclose? Y or N? |
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The reason we are thinking about doing it is we have so much other debt that it will be easier living in an apartment for 5 years and getting back on our feet.... |
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 When you evict a tenant for failing to pay, can you sue to get rent payments? |
| I may have to begin eviction proceedings because of late rent. Can I sue for the remainder of the lease agreement? They are two months in, however this is a college rental and it would be impossible ... |
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 Buy home, renovate and then sell? |
| I am a contractor, would it be any good to buy a cheap house in Pennsylvania, renovate it "increase it's value" and then sell it?... |
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 What is the name of the person that pays the rent? |
| The person one pays the rent to is called a Landlord, but is there a special name for the people that pay the rent, from the Landlord's perspective?... |
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 Screwed out of $5000 by our real estate agent? or standard practice? |
| We found out a week before closing on our house that we qualify for a $5000 interest free loan from the city housing dept because we are in a low enough income bracket. If we stay in the house for 10 ... |
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 I would like some tips on selling my home quickly!? |
| My husband and I plan on selling our home soon. We are getting stuff clean, finishing a pantry, ect. We hope to be ready by October. What are some things we can do that are not too expensive or ... |
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| Mortgage for Prefab House? |
| I have an appointment with nationwide in a couple of weeks to set up a mortgage (already looked around for one, Nationwide was the best for me), but i have just found out the reason the house I want ... |
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 How do you foreclose on a house? |
| We are currently buying a smaller trailer compared to our 3 floor House. We cant afford to keep paying for this house in the summer time. We were wondering what the consiquences were on foreclosure? W... |
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 There is a piece of land that was offered to us for $5000. in Malibu. Should we buy it? |
| The size is about 6000 sq ft, ( one lot). At this time it is unbuildable but has a great ocean view.... |
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 Can I move out with £900 a month? |
| my mum tells me no because it's gonna be hard moving out sinc eI only earn £900 a month. she gave me an example of one of my friend who struggled to pay rent etc. with her flat mates and moved ... |
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 Do legal occupants have rights in an apartment? |
| My roommate qualified to be on the lease but I didn't, so the landlord ask me if I wanted to be an occupant. I agreed to be an occupant not thinking at the time my roommate was nuts. After we ... |
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 WTF is up with "nonrefundable pet deposits"?!?! |
| I'm trying to move into a new apt here in NOLA and what the hell, it seems like every place doesn't allow pets or has a nonrefundable pet deposit. That's not a deposit, that's a ... |
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 Landlords!!!help scared |
| hi all looking for some advice , my old landlord is threatning me with court action , there was never a lease or anything , now he has been sending me threatning emails with all my details N.I ... |
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 How do you turn a second home into a primary home? |
| My husband and I sold our primary home this year, but still own another house in a different state. We are now renting in the city of our primary home, but would like our second home to be ... |
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 While I was visiting my property to collect rent, my tenants' pit bull attacked! What can I do? |
| Yesterday I had to go visit some of my rental property to collect rent, like time and time again.....the tenants left when they found out I was in town. I was surveying the property when their pit ... |
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 Why do I only see masonic lodges on the nicer neighborhoods? |
| For many years, my hobby has been to drive around in my car, and just look at the pretty houses. Friends actually enjoy me taking them on tours of the nicer neighborhoods to show them houses, I know ... |
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thedazzleman | Why is it, when on a small income u payout ur rent each month but cant get a morgage for the same expence? |
Im on a small income and it is impossable to buy a property so I can live in my own house. even when I have been paying rent I cannot get a morgage, even at the same expense. |
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auntb93again
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Two reasons: down payment and credit worthiness. It's simply not that easy to find a mortgage company that will take a chance on a person with a "small income" unless they can make a sufficiently substantial down payment. If you don't have like 20% of the purchase price for a down payment, they worry that the costs and hassles involved in foreclosure will eat up any profit they may have. The mortgage company must, quite reasonably, be confident that you can and will pay the mortgage payments regularly and not default. |
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jdlifsey
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You're not liable for the total cost of the house. The landlord is. The bank doesn't care about how much you've been paying in rent. They care about how able you are to continuously pay a mortgage since it's their money at risk. |
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Heather S
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Because when you buy your home they look at what's called a Debt to Worth ratio. They know according to your bills and how much you make how much you should be able to afford. Granted you're paying that much in rent, monthly but you're borrowing several thousand they look at the bigger picture.
See if you have a first time home buyers program in your local city and maybe they can help you. We have something called Community Action Project here that helps people with lower incomes and gets them into very nice homes, they usually waive the closing fees etc... |
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westfield47130
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A mortgage company has to feel it's worth it... and a safe investment... They are paying for the house... if you don't pay they get stuck with thehouse... yes they can sell it, but they have no guarantee it will not have been abused... so if you want a mortgage...you have to have a down payment to reduce their risk.
If you don't have the down payment or if principle, taxes and insurance exceeds 33% of your income...no mortgage! 33% is a stretch and only for those with great credit...25% for those with good credit. |
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CPAKeith
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The banks seem to consider you a risk. Look for a seller that offers seller-financing (the current owner of the house issues you a mortgage directly instead of through a bank). The seller can be a lot more flexible in who he/she lends to. |
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Justin
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When you take out a mortgage, the application and approval process depends on several aspects, mostly your income, assets, liabilities and credit, and is much more involved than renting.
One of the major qualifiers used is your debt-to-income ratio. Most lenders will allow a mamimum debt-to-income ratio of 50%. This means that if you make $2,000 a month, that your maximum allowable outgoing monthly debts INCLUDING your new house payment cannot exceed $1,000 (50% of the income). |
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itom200
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If you don't pay the rent, your landlord just evicts you and gets someone who will, his risk is limited. If you don't pay your mortgage, the lender has to repossess and sell your house. The lenders risk is far greater than the landlords, and the lender is exposed to a far greater potential loss than a landlord.
Talk to a mortgage broker, they will be able to advise you on whether anyone will consider you for a mortgage. |
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lamblittleprince
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i no its hard im in a simillar position |
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Graham H
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Well on rent someone is only trusting you to pay the amount due month by month. On a purchase they have to trust you to make about 240 of such payments over a period of about 20 years so it is a bigger decision, |
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