 Can an apartment manager tell me i cant have friends visit? |
| my best friend comes over while me husband is at work, so yesterday he told me " i'm goign to let this slide for awhile but then this needs to stop" this is after the fact he said i ... |
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 Can landlord changed locks before eviction notice? |
| Background...we have never missed a month of rent before. We told our landlord on the 5th that we were going to be moving this month. and that we would pay her the rent up to the day that we are ... |
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 Mold problems/getting out of a lease? |
| We have a mold problem in the bathroom of our apartment. The landlord had a new shower installed, and my roomate took pictures of what was behind the old one and it was horrible! I think the guy ... |
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 What Do I Charge? |
| I'm wanting to lease one of my bedrooms to a college student and I need your opinions. Would you pay $375 per month for a bedroom with cable, internet access, kitchen use, full bathroom, and all ... |
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 How can my GF get her roommate to move out? |
| My GF is 48 and has a same age room mate that was a friend. They have a 1 year lease with 6 months remaining. The lease is in Michigan and my GF is the primary holder and her room mate is considered ... |
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 3.5 months into buying a flat should i continue or drop out due to falling house prices? |
| i am close to buying my first property. its a leasehold flat in tenbury wells (west mids). i am growing very concerned with falling prices and dont want to but if im gona go straight into negative ... |
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 I'm single mom with health issues, my BF wants to buy a house and put my name ONLY on the mortgage and he pays |
Is this wise? The reason I am having a dilemma:
I live in a bad neighborhood, my kids like him, we have been together for 6 years and I can't seem to hold a job without getting sick ... |
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 Moving house on imcome support..how do i get my furniture moved? |
| Im on income support and im moving house in 6 days, i assumed my homeless officer would help but shes now said that its my responsability to figure it out...i dont know what to do! does anyone know ... |
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 Is this is good mortgage interest rate? |
| I got a 6.8% on a 100% financed $181,000 mortgage. I have about 8,000 in savings and a 760 credit score. Is that a good interest rate for that type of mortgage?... |
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 My landlord came and told me i have 5 days to get out. help!!!!? |
| he came with this guy and the landlord said i sold the house to this guy. the guy said u have 5 days to get out or the sheriffs will come. they didnt give me any paperwork or nothing. i havent paid ... |
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 OK so I pay my rent on the 24th of each month. I am moving out on the 24th? |
| I don't owe my landlord and they don't owe me right? I can go ahead and cancel my bank payment?... |
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 If I want to kick my boyfriend out of our apartment, and he is not on the lease. How do I make him move? |
Should I call the police? He is a violent alcoholic. I am scared of him
Additional Details
He did get very drunk tonight...I believe he is an alcoholic. I am scared for my safety and ... |
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 PLEASE help !! Is this NORMAL in rental lease? |
Hello, can you please tell me if this is normal to be in a real estate Lease to rent a single family house? It seems a little strict to me..
Pets ( I dont have one but it still seems a ... |
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 If i rent a place 1br appartment with three people me my girl and our son age 6? |
Lets say they only want two for one bed. And...we dont tell them whats the worst that can happen if we sign a year lease?
They will tell us after our lease we need to either move into a ... |
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 Is nine months an average time to list your home with a realtor? |
| my home has been listed for seven months, i just received a copy of the listing agreement that i signed but never got a copy, was never told about the length of it. thought 60 to 90 days but found ... |
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 Landlords, advise please? |
we have tenants, the property is managed by letting agent appointments are made but they the tenants never keep to them.
at the moment the boiler needs to be serviced but the tennants have let ... |
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Leslie G | Would someone give me a mortgage without a job? |
I presently own a house without a mortgage. I would like to purchase another house with 20% down and use the rent from my current house to pay the new mortgage. My present house is worth over $350.0K and can rent for $2500.00 per month, the new mortgage would be for $160.0K. |
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rweasel6
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Yes the bank would consider that income and factor that in. You could probably get a loan like this.
Be prepared to make a payment even if a tenant has moved out but its not a bad idea to leverage your current property. In fact you may even want to refinance it so you can make a down payment on the next property. A fully paid off income property is actually not a great investment since your Return on Equity is really really low. |
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rogerv_dotcom
 |
Yes, you can. There's a whole spectrum of documentation types between "No-Doc" and "Full-Doc" - see http://www.RogerV.com/home_buyer_process.htm for general info that's applicable here.
Remember _most_ banks will only give you 75% rental-coverage toward your debt-to-income ratio... a good broker will find you the few that use 90% IF that makes a difference between doc types. |
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W. E
 |
What is your credit score - Lenders look at the middle score - and with a NO Doc Program, No Doc / No Income Verification Program Notes
you do not have to list job etc. BUT your credit score needs to be HIGH - For borrowers who have money or equity but have problems documenting their income or source of their assets, the No Documentation—or No Doc—program is the ideal alternative.
The No Doc loan is actually another variation of the no income verification (NIV) program, with a twist. The No Doc combines the NIV option with a no asset verification (NAV) option.
Because of its NIV origins, the No Doc loan is also a non-conforming program. A non-conforming loan refers to any loans that are sold to the secondary mortgage market, but NOT through Fannie Mae, Freddie Mac and Ginnie Mae.
Non-conforming loans are sold through more expensive private conduits because they do not satisfy or "conform" to the guidelines established by Fannie Mae, Freddie Mac and Ginnie Mae.
Although the NIV program will not verify the applicant's income, it usually will require that the stated income makes sense: it is acceptable for a doctor, lawyer or other professional to state that he or she makes $100,000 a year; however, it is not acceptable for a janitor or clerical employee to state the same income level.
By the same token, the NAV option ignores verification of the source of the funds that the borrower will be using for the closing. Conforming loans require that assets used for the loan transaction must be verified and documented. Some borrowers are unable to document the source of their assets, particularly with down payments and savings.
The no asset verification loan still does verify that the indicated and required assets do exist. However, NAV programs simply will not inquire about the source of those funds.
SInce you need your credit score to stay the same, please do not shop around. Go with a Broker that can underwrite for many companies. Why Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down. |
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jimswainbbmc
 |
Two key things to remember:
1. The lender WILL charge you a higher interest rate, as there is more risk associated with the loan. No Income No Asset Verification and No Doc loans will average between 1-2% higher than a Full Doc loan.
2. Most lenders only consider a percentage of rental income, not 100%. The average I have seen is about 75%. This will affect the size of the loan you can qualify for.
I would recommend getting even a part time job and maintain it for a few months... this will look better to a lender than just rental income. At least then you have something stable as income, that isn't dependent on someone who could easily not pay you and endanger your ability to pay the note. |
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reggiewjr1
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It is possible to do what you are asking, and each lender will have it's own requirements as to what is acceptable and / or reuiqred.
I suggest you work with a Mortgage Planner to analyze your situation and create a list of goals to acheive. Then he will be able to shop your needs around to a variety of lenders and find you the best rate, term and programs. |
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dreamscorporation
 |
debt consolidation
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm |
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sexytrojan
|
Yes. You can get a "no document" mortgage, but it may have higher interest.
Why not use your rental as income. |
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linkus86
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If you have a good credit score, yes you can! There are a couple of different programs I know of that allow you to swing this (stated income where you don't have to show proof of what you make, and a no document loan). I am a Realtor, not a mortgage broker. Both are going to have higher interest rates. Or, you could simply secure the loan with your present house. I see the logic of your plan but you may need to be wary of some of things like enduring months the rental is vacant, squatters who don't pay their rent after the first month, realizing that rental income offsets the interest deduction (call a CPA), higher interest rates for investment property (on top of the higher rate for the "special loan"), and higher hazard insurance for non owner occupied homes. It sounds like a very risky undertaking but not impossible. Where I am from anyone who could rent a house for $2500 a month doesn't do so long term because they could easily buy. Good luck! |
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Larry l
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I wouldn't. Renters are unreliable and many(NOT ALL) destroy rental property and skip without paying the rent. Therefore, your source of money to pay your mortgage is unreliable. |
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Openthathouse.com
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Ok! Yes you can get a mortgage without a job. Its called a No Income No Assest Job. Yet there is a catch. They still need some type of employment so if you have a buisness card stating your home buisness (legal) that would work. Than you need at least 3 months of PITI reserves in your account. This would be accumalitve to 3 months payments and kicker is it has to be seasoned for at least 60 days. If you should have a credit score of 660 and above you can defiantly run this type of program.
If you are going to pull money out of the first home than only do this with a closed end second or Heloc. This way you dont refinance the entire house and get taxed on the primary house. Saving you money! I suggest a Closed end second.
Good luck with your new investment and I hope this information helps. Any questions please email me or contact me. |
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Mae
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Sounds to me like you do need a job or an income that you can show that you can meet the obligation of the mortgage payment. Including all the other necessary expenses, tax, insurance etc. I had the same problem so I found a good company that allows me to have the best of both worlds. I can share with you the company I work with and what I do. It enables me to look good on necessary paper work and I receive the income as well. Check out my website (www.maehill.com) all my information is there if you need to contact me. You just need to conform to what the Mortgage company demands in a way that you can still live the life that you are currently living or better. One with time freedom because that sounds like what your trying to preserve. Check it out. I hope this helps. |
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Cynthia Crowder
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I was trying to purchase a home but I was told that I need to have a job in order to get a loan. Is there a way to get a loan without a job since I am receiving disability retirement benefits from a previous employer. |
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emkoenig03
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Can I refinance without a job? I get 546.00/month child support. |
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