 Should I buy or rent a home if I am only going to be in it for the next 18-24 months and then will move again? |
| I may be relocating for a job that I will be in for roughly 18-24 months. Given the uncertaintly of the housing market, do you think I should buy a home or rent? I would hate to buy and the value ... |
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 Can I ask my tenant to leave? |
| I recently bought a house. It is NOT a duplex or anything like that. It's a one-family house with a small bachelor attached to it. When I bought it, there was someone renting the bachelor. I don&... |
|
 House Question...? |
If a house is on the market for £195,000, what price would you offer to buy it for?
We are first time buyers, with the cash and no property to sell.... |
|
 A tenant in our investment property is slow to pay her rent. What steps do I take as Landlord? |
| This nice young lady is the single mom for two school-age kids. Her very first rent check bounced, the second was sent along short by $200, now we're two weeks into this month and NO PAYMENT... |
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 Can the condo association force me to pay for maintenance of my deck (common element)? see below. ? |
| I declined having my back deck power washed and stained last year because it was inconvenient for us when the contractor called to have it done in Sept/Oct 07, and summer's over. Anyway, I just ... |
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 Mortgage Statement Question? |
| I recently bought a townhome 6 months ago, 6.75% fix 30yr. I was reviewing my mortgage bill and noticed it shows im paying $650 or so per month for "Interest/Principle" and shows a tab just ... |
|
 Why does the seller of a home have to pay a commission to the buyer's agent? |
| I was just wondering why, if I am selling my house, I have to pay someone to buy it especially if I am selling my home without a real estate agent.... |
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 In a flat with 3 floors, which floor is it best to live on and why? |
| We have seen 2 flats, one on 1st floor, one on top floor, both are the same rent, both furnished. How do we decide??... |
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 My mortgage is so high!! how? |
| do i go about moving mortgages?? so i pay less per mounth over a longer period of time??... |
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 Anyone ever been ripped off, by there ex landlord? |
| Yes i moved out! but gave no notice.we lived there 10 years!shes been in the house mabe 3 times while we lived there! I painted walls,cleaned gutters, fixed things when needed!! long as she was ... |
|
 How long can a former tenant of an apartment leave something after being evicted? |
| My grandparents recently evicted a pair of less-than-savory men who left, by my estimation, almost $2000 worth of electronics including an Xbox 360, controllers, PS2, Sega Genesis, 2 TVs, and a Sony V... |
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 Monthly payments(living on your own)? |
| As far as bills goes I wanted to see if this was accurate. Also, my parents said that if I move out in like a year or two they could help me by paying the monthly rent. So I tried to talk them out of ... |
|
 How do you get out of a 12 month lease? |
| I still have 5 months left on my lease, but money is tight. My boyfriend lost his job and we just can't afford it anymore. Our property manager is a B**** and has no people skills what so ever. T... |
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 Help. i want out? |
| me and my boyfriend bought a house together.......well....i want out.....he can't refinance because of prepayment penalties....he can't qualify and assume loan because his credit sucks....... |
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 Can a landlord do this? |
Here is what I asked last week:::: and just to clairify, my boyfriend does not live with me, he just visits and sometimes spends the night.
And the manager knows he dosen't live with me.
... |
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Buff | With the subprime mortgage crash? |
in the last year due to foreclosures and deliquency ratings, what is the future availablity of a mortgage loan for a person with less than perfect credit? |
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Buffy Summers
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Not good. If you can get your score high enough to qualify, you'll pay through the teeth. |
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rubiachica1978
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Don't get to discouraged. My husband and I are in the process of making our first home purchase now. We both have credit scores in the mid-600's (not good at all). We are going with a My Community program, which is designed for people of moderate income to become homeowners. There are some restrictions (must meet income guidelines, max loan amount also) but we are putting 0 down and received a 7% 30yr fixed conventional mortgage, which isn't to terrible considering where the rates are currently.
I would ask a lender about this option.
Good luck! |
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Mortgagemom
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Guidelines are tightening up daily. I get 2-3 notifications of product changes every day. And over 100 wholesale lenders have ceased doing business as a result of the current market and delinquencies.
Your best bet in the future will most likely be an FHA mortgage. Get your scores above 580 and save for a minimum down payment of 3% and make sure that you can verify 12 mos housing payment history and all your income.
I do believe once things settle down that there will still be a market for sub-prime loans. However they are moving towards full documentation loans and higher down payment requirements.
Hopefully you will be ready to purchase while prices are still down! |
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acermill
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It's far less available than it formerly was. Lenders are considerably tightening their criteria for extending mortgage loans these days. Almost the entire subprime market was comprised of less than stellar credit borrowers. Previously lenders were not overly concerned with doing subprime lending, simply because the real estate market continued to increase in price value, and they felt comfortable that they would be able to extract their investment in full if they needed to foreclose on a subprime.
The weakening of the real estate market value basis changed that outlook entirely. Lenders are now finding themselves with foreclosing loans which are valued at 120% of the collateral property. Not a good thing.
You won't see this happen again in the near future, since the estimated losses to these assorted lenders is expected to be in the $175 billion range when the mess is finally over. |
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shelcom
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what do you think? The minimum score and down payments will rise, and lower LTV limits will apply. |
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jake shim
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It will be harder. Considering the the crash that took part this year, major lenders have closed their doors. In addition, more lenders today are withdrawing some of their programs: stated, option arms, 2/28s and so on. However, at the same notation that gives other company's to take advantage of the open market (survival of the fetus). People still need money, maybe more now. I'm not going to saying this will be like this forever, but like everything else it goes in a circle. |
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michiganted
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Predicting the future is dicey in all things, much less this type of question.
My gut feel is that we are in the midst of an over-correction and there will still be good options in the future. Ultimately no matter what the future of the mortgage industry - you'll be best served by doing the things that are always good, such as paying everything on time, every time and living within your means. These actions manifest themselves in a good credit score, which will always be your best friend in mortgage applications, no matter what the environment. |
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Suzy
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Not good unless it's for a high interest rate. |
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Paul in San Diego
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There will still be products out there for higher risk borrowers. You just won't be able to get those interest-only adjustables that start out at ridiculously low rates or negative amortization loans. You'll also not be elligible for no-stated-income loans and you'll probably have to pay high loan initiation fees (points). You also will have to come up with a more sizeable down payment (like a 75% maximum LTV or something). |
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vahomerefinance.com
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I think in your case it would be best to talk to a licensed mortgage professional, rather than risk just filling out a form on a site.
A company that helped me was Loan Center, their number is 866-752-6089, I would recommend giving them a call, they can help answer your mortgage refinance questions and get you going. |
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Terry S
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Good if in fact you can put some money in the deal.
Many lenders now are requiring 10% down.
FHA loans require 5%.
You missed the boat by about 2 years |
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