Renting & Real Estate - August 2006

ok. Me and my wife just got approved for 200k @ 9.5% interest which is crazy. I have a discharged chapter 7 from 3 years ago. We make 87k and have 10k in debt. We do not want to get screwed, so we are looking at owner financing.

A realtor for one of the properties we have been looking at said that the owner would be willing to do a CD.

The house is listed for about 180k. I know what a contract for deed is, but can someome break it down for us? What are we to expect? How does a realtor get paid, etc?

Also, we have 401k. I know that it can be used without penalty for a conventional loan. Can it be used for a CD?

Thanks!

2006-08-28 12:35:58 · 2 answers · asked by Michael P 1

2006-08-28 12:09:34 · 7 answers · asked by Anonymous

We've been in the market for houses for the greater part of the last two years, and then I read this:

http://dsc.discovery.com/news/briefs/20060529/zeroehome_tec.html

I am amazed that this is an option (or soon to be) in the housing industry. I am looking for some answers that will guide me on who to contact (local gov't offices, private companies, etc.) officially about these types of purchases. I am not even sure there are empty lots available for residential purchase, since most of the empty lots I see are aimed at businesses.

Basically, I just want to know if this is a feasable alternative to just buying a house.

Thank you very much.

2006-08-28 11:20:15 · 4 answers · asked by Ninjaso7 2

I just purchased a home 30 days ago. Not satisfied with the house and I want to know if I can get out of the house without penalty.

2006-08-28 11:00:59 · 22 answers · asked by msbrownthang2003 1

The loan should be amoritized. How do I amoritize
a loan?

2006-08-28 10:56:02 · 7 answers · asked by netwit10 1

Do i have the right to keep his rent money for the month that hasn't yet arrived? The house will now be inhabitable for at least 4-5 months and it has been determined by fire officials that the cause of fire is the tenant's negligence.

I have no landlord's insurance so my mortgage will not be covered during rebuildling, but the cost to rebuild will be covered by homeowners insurance, minus a deductable.

The tenant has no money so even if i were to sue, I'd get nothing out of him. But i do have his security deposit, and the rent money that he paid in advance for his share of the rent. (the other share would normally have come from the housing authority as he is a section 8 tenant). Am i entitled to that since he caused fare more damage than his security deposit could ever cover?

2006-08-28 10:46:56 · 11 answers · asked by Mon I 2

Hi, I was wondering if anyone could assist me in getting on track to a career in real estate appraisal. I currently work in corporate finance for BMG in New York City.

Please feel free to send me a message to discuss this, or request my resume.

Look forward to hearing from anyone who could help.

Thanks

2006-08-28 10:11:46 · 4 answers · asked by Anonymous

My brother and I just bought a house and it's a 5 year interest only loan and the mortgage is close to $4000 a month. We are basically having a hard time paying our monthly. Should we refinance already? It's been only 5 months and there's a prepayment penalty if we do it before 1 year. Please advise.

2006-08-28 09:45:26 · 12 answers · asked by Anonymous

2006-08-28 09:21:22 · 6 answers · asked by Anonymous

2006-08-28 09:17:38 · 4 answers · asked by Anonymous

I am currently a student at Western Michigan University majoring in Business (finance) (with an emphasis on real estate) and public law.

I am studying for the LSATs now. (so that I might go into real estate law)

Is this the best way to get where i want to go?

What alternative career advice would you recommend for someone like me?

Thanks a ton

2006-08-28 09:17:23 · 6 answers · asked by Anonymous

any hint or recommendation for investing there?

2006-08-28 09:10:09 · 5 answers · asked by Carlos B 1

2006-08-28 08:52:50 · 3 answers · asked by totis12 1

Also, could I borrow enough to put in a well, septic tank, and power pole? Please don't give answers like, "Go to the bank."

2006-08-28 08:25:50 · 11 answers · asked by Baxter 3

I am going to get a job and move, but i want t oknow about how much I might get so I can start looking ahead oftime to get an ide aofhte location and area I will be able to afford.

2006-08-28 07:55:02 · 8 answers · asked by phonics808 2

Is a 6.6275% a good finance rate for my home or is it a little high??? I live in Oklahoma and the purchase price of my home is $78,900, but the morgage guy says the loan will cover the property tax but not the home insurance...does that sound right? If so....about how much a year will home owners insurance be??

2006-08-28 06:49:48 · 3 answers · asked by sinzx7 1

does it affect credit?

2006-08-28 06:43:06 · 4 answers · asked by nubbin77 1

How do professionals estimate the price of a property in India?

2006-08-28 06:38:53 · 3 answers · asked by manishks 2

is $5300 too much to pay for all closing costs ?
my GFE reads $4800, now the loan officer calls and says they added $489 more to cover the survey costs..! what do i do ? should i pay it or just look 4 another loan? i have already had the house inspected and appraised which i had to pay for. thanks

2006-08-28 06:33:06 · 12 answers · asked by pjm079 1

2006-08-28 06:19:50 · 15 answers · asked by Doni Jean 1

I called the apartment complex and they told me to call the corporate office and the corporate office claims that they don't have record of it. I have my recipet of the money oreder. What should I do? Can the ploice get involved?

2006-08-28 05:47:06 · 14 answers · asked by lifeislove 3

2006-08-28 05:43:20 · 6 answers · asked by Anonymous

ie multi-family housing (row houses) or small office building

2006-08-28 05:19:33 · 2 answers · asked by ion56 1

looking for 1-4 roomates to rent a place in east hampton,ct n split all exspences
male or female
please email at babyangel

2006-08-28 05:16:32 · 3 answers · asked by Anonymous

How much time and what is the proceedure before I am forced to move out of my home. When the sherriff comes to evict us, will we have time to remove our belongings? This on a land/mobile home purchase in Mississippi with a past due of $1,476.96 with a DEMAND FOR PAYMENT ON 8/28/06.

2006-08-28 04:44:30 · 5 answers · asked by In_His_Steps 2

i am working a loan and i am new

2006-08-28 04:41:50 · 5 answers · asked by msafa 1

I am looking at buying a property for 180,000. This is my first home and I can put down only 5-10%. My salary is 55,000 per year and I have a small business online that generates 20,000 per year. The property is a 5 unit apartment complex with all units currently rented and producing 2380 in monthly income currently. The total costs involved in the property if I were to own it would be 2000 per month. Should I get approved for the loan?

I have good credit but I am not sure what the rule of thumb is for a mortgage loan amount and its ratio to my income. Anybody with home buying experience that can give me some insight?

2006-08-28 03:55:24 · 6 answers · asked by truthsense 1

My room mate and I have complained SEVERAL times about the people above us and that they have more people living there then is allowed by our city ordinance. They are extremely loud, and we've tried to go up and talk to them but they do not speak English. I’ve had a letter translated to Spanish asking them to be quiet after 10pm on weeknights, no luck. We’ve complained about 5 times to our rental office, and we have kept a record of each complaint.

NOTHING has been done about this noise. Is there a legitimate compensation due to us for lack of action taken?

2006-08-28 03:42:06 · 8 answers · asked by UNeverKnow 1

2006-08-28 03:41:26 · 3 answers · asked by ruhi 1

they gave notice they were moving cause they were buying a house but the deal fell through right before they were moving I already have a new tentant for this apt can i still have them move out It not my problem they didnt get the house but they already gave me notice and then they didnt pay this months rent they told us to use our security

2006-08-28 03:31:07 · 11 answers · asked by roberta 1