 Can I sell house in negative equity? |
| I want to sell my uk house but it's value is less than all the secured loans on it. My internet research suggests to my horror that my lenders can stop the sale from going ahead. Is this true?... |
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 Is a nice big house like Kevin's family has in Home Alone typical in the US? |
| I work as a software engineer here in the UK, if I were to move to the US, would I ever be able to afford a house like that (or like the one Robert De Niro has in 'Meet the Parents') just ... |
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 Can I live on my own, in an apartment, at $35K / year? |
| I currently live with my grandmother, with intentions to move into an efficiency within the next year. At $35k a year, in southern NJ, is this possible?... |
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 Is life that EASY in USA ? |
| im gonna be short , we (me and my damliy) will come to USA in next 9 monther , i talked to my uncle in USA and he tell me that i can earn 8$ in hour thats for minimum , so i try to buy a computer ... |
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 Are they real? |
on tv im seeing some programs which talk about getting good checks after following some old fat guys secret to real estate
many people say they get up to 10 000 after only a few days on the net ?... |
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 What can I do if my roommate want to use his security deposit as his last rent? |
| When my roommate moved in we signed a contract that I type and we signed it as a legal dacument, it say that the security deposit was not to be used as his last month rent, because it was to cover ... |
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 How do we increase the value of our home? |
We bought a home 3 years ago and are trying to make changes to add appraisal value to our home. We have a inground pool, 4 acres, Nice house.
When we moved in there wasn't much ... |
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 Sale of house? |
| my ex partner and i have split up , we bought a house together, i put a large deposit down , we are both on the mortgage and title deeds, if we sell the house , is she entitled to half of the equity ?... |
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 Can an apartment evict you for an error on your check? |
| My rent is $720 and in the column to write it out, I wrote by accident "Seven hundred and thirty dollars". Now my landlord says that I am late and has put an eviction notice on my door but ... |
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 Never Signed a lease agreement where I live, Can landlord keep my $625 dollars that he owes me? |
| I Have been living where I stay for 4 months, I sent my landlord 2 money orders totaling 5 months worth of rent, which includes security deposit, now I am leaving just short of 4 months, and I would ... |
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 I'm leaving my apartment, but I need more than 30 days to do so...(read on)? |
| I've decided not to renew the lease and I am going to move elsewhere for better location and quality. I asked the manager if I could give her a notice to leave the apartment that is more than 30 ... |
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 Anyone else really annoyed at housing situation today? |
| I am 24 years old and I recently was living in rented accomodation with a friend of mine paying £300 a month. I make an ok income but not a great amount but could in no way afford a mortgage which ... |
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 Would I be able to buy a house, someday? |
| . My income is about 35,000 a yr. Im renting an apartment where I pay 1,075 and Im able to keep up with my rent and bills. Most of my friends have their own home and for some their mortgage payments ... |
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 Whats going on with the house prices are they going to drop within the next couple of months? |
| i am hoping to put my house on the market with a month and i have read in a newspaper that the house prices are going to drop is this true ? i have to sell due to money problems and the house i live ... |
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 Good, Affordable Places to live? |
| My Husband and I work for the same company and just found out that we are being laid off - our last day is October 2nd. We live in Seattle, WA and have been living here most of our lives. The cost of ... |
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 I was behind in my mortgage payment. Now the bank is refusing to take my money. Is this legal? What can I do |
| First they said I had to catch it up. Then they threatened me with foreclosure. Now they say they will work with me, but are waiting on some paper to cofirm that I have no other liens against the ... |
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 Me and my husband just rented an apartment. the owner currently pays the light and gas in the apartment...? |
| but since we are moving in he said we needed to change the ligh and gas to our name or they will cut the service.... how do we do that without having it cut until its all processed???????...... |
|
 Do I need a lawyer when buying a new home? |
| I'm a first time home buyer and about to sign a contract to buy a newly-built house. I'm a bit nervous because I'm not sure if I should hire a lawyer when I first pay some of the down ... |
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 I gave my tenant 60 days notice and she accepted but I think she will not move out on the date we agreed on? |
| Is there something I can do on that day, e.g. take back the property, kick her out on the day we agreed that she would move out anyway. She is already owing me 1 months rent plus many months of late ... |
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colonita | Would u buy ur kid a condo if she is in college and u could afford it? |
we think paying rent is wasting money. instead want to buy her a small condo. she can live there with at least one other friend who will pay rent. the mortgage will be offset by the renter. we can declare it a second home and take 50%deductible in taxes....is this an idea ...or what...she has at least 3 years to go in that school |
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MontanaGirl
 |
I would do it. but i too would have my child contribute to the rent and utilities to learn responsibility. Many times the cost of buying versus renting or utilitzing college housing can be less expensive. Plus you have the added benefit of recouping your costs when you decide to sell.
As for the roommate issue mentioned earlier, should she move out before the 3 years are up, i'm positive that she can find another responsible roommate.
I think it is a wise decision and well worth looking into. |
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frankie b
 |
I know several people who have done this for their children.
It is a good idea, better than wasting money on rent. |
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Flyboy
|
Tough call. My guess is that you couldn't amortize your costs over a three year period. Besides, there are lots of unknowns: Will the friend stay the three years? What will the market be for the condo in three years? You should set this up as a model on an Excel spreadsheet and plug in your assumptions and what ifs? My guess is that you'll be break even after taxes if there is no difference in the buying and selling price AND the friend stays there the full three years. But, watch out for something else if you figure you'll make money on any gain: You may end up paying capital gains taxes.
Earlier this week the Wall Street Journal had and excellent article on the cost of owning versus renting. I believe it was Monday's edition in Section D. Well worth the read if the financial aspects of your move figure into your decision. |
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anthony10
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if you can afford it, its a lot better than renting. bc u will make money on it..just dont sell now, hopefullly in 3 yrs the market goes back up and you can walk awy with good money |
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thetaxman07
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do it...just don't put it in your kid's name. |
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momof2
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If I could swing it financially, in a heartbeat. |
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Direct Mortgage Funders, Inc.
|
Absolutely its a great idea, why don't you take advantage of the tax advantages of having a second home or even investment property. Please call me for more information and let me give you some payment options and different loan programs to choose from, we do loans in all 50 states.
Fred Javaheri, Vice-President of Mortgage Lending
office line: 818-530-2163
cellular line: 818-523-1471 |
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Annie
 |
Do it only if she will have her own bedroom. |
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skuilah
|
You ought to buy it for all of the reasons stated, but also have her pay rent that is equal to her roomate. Part of college is learning how to survive in life, how to work for what you have, etc. If you give it to her, she will not learn any of the neccessary life skills. If she pays rent, then she will appreciate it more, take better care of it, be hald responsible and accountable, etc. etc. So yes, if she were my daughter I would buy it, but make her contribute in order to keep her from being spoiled. I had to work a full time job while in college and would never give up my learning experiences from that. I do however have several friends (two who have gone bankrupt) that their daddies provided everything for them and they wish that someone would have made them learn how to be responsible and stand on their own two feet. Same as a car... if you buy your child a car, they should pay at least half as well as the insurance. Kids need to learn that you work to EARN something, they value it more.
So go for it, but give her responsibility. |
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