 What are the risks to me in allowing someone to take over payments on my mortgage? |
| This has been a rental house for 3 years and is much more trouble than it's worth. I'd like to sell it outright, but don't have the money to fix it up enough to get a good price and I ... |
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 What is the cheapest or free way to list my Condo for rent? Condo is located in Orange County, CA? |
| I have a 3 bedroom 2 1/2 bathrooms in Orange County, CA and I am looking to rent this property.What is the cheapest way. Attach 1 car garage, Washer and Dryer hook-ups....please let me ... |
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 How do I know that the advertisement on craigslist is not a scam? |
| I responded per email to an ad on craigslist. The person wrote back...with very poor grammer and overall, not very good english. She said she was a doctor who was "out of state" and gave a ... |
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 They cut off my electricity and I cut it back on...? |
| Is this illegal. They went to transfer my electricity in my new house frrom the landlords to my name. They cut it off Friday and never cut it back on. I called GA Power and they said their first appt ... |
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 Who is in the wrong? |
| we've been renting this house since Nov.15,06.We pay rent on time every month, have never caused any issues. he house is really poorly constructed,the heat bill in the winter gets up to 400 ... |
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 I am a Mary Kay Consultant and i need a checking account but cannot open one because i have bad credit? |
| hi would someone give me advice on how to open a checking account with bad credit. i cannot believe i cannot open a checking account. can i do my marykay business thru a savings account but my ... |
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 Should I give a receipt to tenants when they pay their rent? |
| Im a new landlord and I'm tryin to learn whats common and whats not. please give any other tips you may have in helping me be ... |
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 I purchased a new home because my home builder promised us a family oriented community.? |
| It has been 3 years and to date we have no pool, playground, clubhouse, amenities. Can I sue them?... |
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 How soon can you get a mortgage after getting a chapter 7 bankruptcy discharged? |
| would it make a difference if i was just a co-signer as my income is bigger than my spouse, and would improve our debt to income ratio to qualify for a loan.... |
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 If there are not enough houses how comes the price is falling? |
| Another dirty trick by the banks to steal our money do you agree?... |
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 Credit Scores and Mortgage Rates? |
| Let's say someone has 803 FICO score, no debts, 90k year salary, investments, and savings. Let's say the person is single with no co-borrower. If lenders listed daily prime rates of ... |
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 Realtors Commision Question...? |
| If I found a listing online and am not working with an agent, can I get some of the buyers commision off of the total sale price? Is there any way to sway a better deal on the house?... |
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 What recourse does one have when a landlord refuses to provide heat in freezing weather? |
| My mom is a tenant in Brooklyn, NY. Despite repeated requests, the landlord will not provide heat in the building. This is one of his many antics to push the tenants out, as it is his intention to ... |
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 Why don't people who are currently selling property (in the UK) acknowledge that they need to drastically... |
...reduce their asking price?
I mean, a Recession has been predicted and property vendors STILL have their heads in the clouds thinking they can achieve maximum returns on their house/flat ... |
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 How do you determine if you paid too much for a house? |
| We recently closed on a new home in Texas. The asking price of the home was $143,990, but as an incentive (per the builder) they decreased the price to $137,990. That's what we purchased the ... |
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 Me and my fiance are looking to buy our first home, how much should we pay for our home? |
Together we make $80,000 a year. What is the percentage that should go toward monthly mortgage. With no money down.
T... |
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 Is there anyway that I can get a mortgage with no downpayment? |
| I have great credit, but it is new.. Bought car in August, 2 credit cards, and make about $30,000/year. I only need at the max $75,000. I have no money for downpayment, but can sustain a mortgage.... |
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Kichee | Will the new mortgage bill help families who have already lost their homes to foreclosure? |
It says it will help homeowners who currently are in peril of losing their homes, but what about those who have already lost their homes this year? Will this bill help them to obtain a loan to buy another home? Or are they just out of luck due to timing?
Additional Details
Oh, but let's go all out to help Fannie Mae and Freddie Mac, right? What a joke... |
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YA is a sham
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Why should the taxpayers subsidize buyers and lenders who made very bad financial choices ? |
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Soul 4 Real
 |
No, it doesn't help if you already lost your home unfortunately. They should have kept the faith just a little longer. |
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PJ
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Out of luck. And I think people that bought too much home and didn't pay attention to the terms of their mortgage deserve foreclosure. |
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Biggie @ Arbor Mortgage
 |
Pretty much out of luck. But not to worry! This bill has nothing to do with the guidelines that are increasingly more required by the lenders, so there won't be that much relief. |
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Pengy
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It will help some with preconditions as in you could easily afford it before a hugh rate increase. Most do not fit in that category as they purchased more than they could afford unless their was no interest. To obtain a loan you need a good credit score (if you are in foreclosure that is gone) and the income to cover the payment. Has nothing to do with timing, many people bought on ridiculous terms thinking they where going to strike it rich because of the increase in home values, something that could not be maintained being wages where not rising at that pace. Sorry to those that lost but you took the gamble seeing diamonds in your eyes and lost. If you lost in the stock market should the Government bail you out of that? If your 35K truck is now worth 10K should the Government bail you out of that? We make our decisions and should be responsible for them, we make a mistake we pay not everybody pay because I screwed up. Socialism is not the rule of government in this country. Capitalism is |
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chatsplas
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NOPE
not ex post facto
too complicated, or maybe they figure those who already lost were in too precarious a financial situation to save, that they shouldn't have been given loans in first place and couldn't financially manage home ownership
bad timing abounds with this mortgage mess |
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Mr Financial Freedom
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Once the home if foreclosed it either goes back to the bank or was bought by an investor at the foreclosure sale. If the bank took the property back, they will have sold it as quickly as possible, so either way a private individual now owns your home. Judges are very reluctant to ever overturn foreclosure sales, so I concur, you're out of luck.
Under existing underwriting guidelines, you will have to wait 3 years to get an FHA or VA loan and up to 5 years to get a loan underwritten with Fannie Mae of Freddie Mac guidelines. These 4 entities now make up 90% of the mortgage market.
State Income, No Doc and No Asset loans are all but gone and with Fannie and Freddie you may need a pretty good credit score (680+) to get a loan with less than 20% down. FHA and VA have no FICO score requirements.
So save your money, clean up your credit and wait for 3 years before you can buy again with an FHA loan.
Mr. Financial Freedom
http://www.5stepstofinancialfreedom.com |
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Elizabeth N
 |
The nos have it on this one. Once you're behind by three months or more you are pretty much out of luck in being able to refinance or get a new mortgage. Your credit rating will be sinking below levels that any lender will accept for at least the next three years, and at least 7 years if you've already lost the home to foreclosure.
Your best bet for the next several years are to work on things that will boost your credit-- pay bills on time and get your credit balances down under 30% of your loan limits. Also, if you'd like to buy a home, look for an owner who will do a contract for deed or lease-purchase option. Make sure if you accept a lease-purchase that you have enough time to eliminate the foreclosure from your credit rating before you need to exercise the option. |
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~Bella~
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The reason the housing sector is in the crapper right now is because people took out mortgages they couldn't afford. Out of luck, sorry. |
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