Renting & Real Estate - February 2007

2007-02-22 09:18:48 · 7 answers · asked by Steve 1

I generally know that I would try to find a bank or lending place that will offer me a lower rate than I currently have, but was wondering how to make sure the new terms are to my advantage. For example, my realtor helped me go over my mortgage materials originally and do not want to agree to something that isn't a good idea, i.e., hidden fees.

2007-02-22 09:15:53 · 7 answers · asked by GranolaGurl 2

I am an investor and will be purchasing a number of properties in the $30-60K range, and they will appraise for around $80K.

I will be buying the properties with cash, rehabbing them and then looking to do a cash out refi, and pull out my initial investment plus $10-15K in cash. Some issues that I have are listed below.

1) I need to go Stated Income
2) I own 10 properties already.
3) Credit score in the high 600s.
4) Looking for a loan with no "Seasoning" requirement.
5) Cash out refi.

I have contacted many lenders, and haven't been able to find anyone. The properties are in Cleveland, Detroit & Pittsburgh.

If you can help, or if you are interested in investments like this, please contact me.

Thanks,

Kevin

2007-02-22 09:08:26 · 5 answers · asked by kevin s 2

We owe more money than what our house is worth. My realitor is suggesting a short sale or a foreclosure, what is the difference? Which will hurt my credit less?

2007-02-22 08:54:50 · 3 answers · asked by destini'smom 6

I'm closing on a house at then end of March. I've been told I have to buy title insurance. My real estate attorney even says she offers 10% off. What does that mean? what kind of insurance do you buy from an attorney? I've read the definintion of title insurance and still can't completely wrap my head around why I'd need protetcion from a "damaged title." Do I pay just one time, one fee? Or is it a monthly bill? I'd love some clarification.

2007-02-22 08:50:21 · 2 answers · asked by hrland 3

There has been alot of people that have been laid off in my community, and i hear how tired they r of paying commissions and that they need every cent they get from their homes to move out to alberta, I'm also tired of other realtors having no ethics, they do not care about the people they deal with, they only care about the money they r getting from them, I feel like a trader, but I have been watching and listening to people out there, saying they r tired of paying so much commission to realtors, but honestly if u take the time, its easy enought to sell your house on your own, just need some direction, that is where i would come in, to show how its done, just looking for $699 far lot less than what a realtor would be getting, what do you think of the idea, also need a name for the business thanks for your imput

2007-02-22 08:20:06 · 6 answers · asked by sexy f 1

..Say they put the wrong square footage in and they have to fix it.

2007-02-22 08:18:17 · 5 answers · asked by Anonymous

2007-02-22 08:10:01 · 8 answers · asked by alienhunter34 2

what fees will i need to play out,really i need an idiots guide to doing it.

2007-02-22 07:55:38 · 5 answers · asked by Anonymous

How much monthly? with and without flood insurance?

2007-02-22 07:36:08 · 6 answers · asked by roxyelyk 1

How much could I expect to pay TOTAL per month when I purchase a home? I know taxes vary from area to area, but is it fair to assume that taxes and insurance would add about an extra $200 to my monthly payment? Significantly more or less? If, for instance, my mortgage payment was $800, I could expect to pay about $1000 per month total??
We're in the very beginning stages of thinking about purchasing our first home and want to get an idea of how much out of pocket we can expect to be per month. The old renting vs owning thing.
Thanks!!!

2007-02-22 07:29:42 · 8 answers · asked by wifey 2

I'm afraid that I'll move into an apartment with a good price and then the utilities will be too much to afford. how do you find out the general price BEFORE you move in?

2007-02-22 07:25:50 · 2 answers · asked by Katie L 3

I have a 640 credit score. I have 5% down. The condo is 55k and it has a termite bond and is in amazing condition. What kind of fees do you think I will have? One mortgage broker told me 3k in fees! What the heck??? Theres no real estate agents involved. How much do yall think my fees should be and intrest? Thanks!

2007-02-22 07:21:46 · 4 answers · asked by hopes2graduate 1

2007-02-22 07:19:02 · 6 answers · asked by wendy shepdog 1

My apartments dont use "energy efficient" appliances like Washer Dryers, as a result of which I have to pay more for my electric bill.

Where can i raise this issue to force the Apartment management to respond to this problem?

2007-02-22 06:45:08 · 4 answers · asked by akki 1

bad credit and first time buyer, in Orange County California?

2007-02-22 06:39:13 · 5 answers · asked by Anonymous

There is two names on the deed of property. The other owner, has left the state, and I can not find him, and don't have the money for a people search. He is not helping with property tax, and has no interest in the property. I would like to sell or buy him out, but with two names on the deed, what do I do. It is called a tennants in common realationship or contract. Help! if you can.

2007-02-22 06:35:33 · 4 answers · asked by bellingergerald 1

I have a major financial dilema. I own a condo in Michigan where the economy and the housing market has pretty much hit rock bottom. I moved out of the condo a year and a half ago because I lost my job and moved home to be closer to my new job. I had the condo on the market from July 2005 until August 2006 with no offers. I decided to rent the place out in August and had someone sign a one year lease. Now she is moving out because she bought a house and cutting out on the lease 6 months early. I wanted to put the condo on the market again now. But a realtor told me that I cannot sell it for more than $138,000 but I owe $152,000. So basicaly I won't even break even and I have no money saved to pay the difference. I need to get rid of the condo but it is killing me financially. any ideas of what i can do? I need to sell because I won't be able to buy a house with my boyfriend in the future if I still own the condo.

2007-02-22 06:04:16 · 11 answers · asked by Pjgirl 1

my last question was self explanatory. The SURVEY - who pays for it?

2007-02-22 05:53:47 · 10 answers · asked by emkay60613 2

Is it legal for a Seller to rebate some of his profit to a buyer AFTER closing? Assuming the home is purchased at or below market rate, the appraisal is legitimate and there's no funny business with the loan, can the Seller cut a check to the Buyer the next day?

Thanks!

2007-02-22 05:49:32 · 4 answers · asked by Anonymous

but i want to get out of it, my housemate seems to think you can leave after six months does anyone know if this is true?

please dont answer if you dont know

2007-02-22 05:47:40 · 9 answers · asked by LADY__LUCK 2

My husband and I are in the process of looking to buy our first home and save the 5% down payment (in Ontario, Canada) - I have recently been given the opportunity to obtain a new job - the very same career choice, doing the same similar duties, simply at a much larger rate of pay and closer to home. I have been at my current job for over a year now (after finishing Mat.Leave) and wanted to know if I should stick at my current job, apply for a mortgage pre-approval and THEN change locations or do it now and use the higher salary as a tool to better qualify us? Will the time spent at a job be a deciding factor? I do not want to lose the opportunity for a higher salary, however, do not want to sacrifice getting a pre-approval because I just started a new job.

Thoughts? Advice?
Thanks!

2007-02-22 05:43:22 · 5 answers · asked by nerdgrl9 2

I bought my primary residence 2 1/2 years ago for $60,000 and put $20,000 into it (it was a "fixer upper"). It now appraises at $145,000.

I plan on refinancing my $60,000 mortgage to pay for the debt of $20,000 (mixture of credit cards with 0% intros that are running out!) and to make a 20% down payment on an investment property (so I can avoid PMI). I plan on getting another slight "fixer upper" and only want to put in 10-15k into it. I will rent it out for a year or so until I think ive reached a good profit and sell it. Plus I only want to have to pay 15% tax rate instead of like 33% (long term investment).

I am not familiar with refinancing. Should I first get a contract on a property so I can refinance just enough to pay the debt, 20% to put down on the house and alittle money to fix it up? OR should I just estimate and refinance now and keep that money in the bank. I would hate to pay interest on money just sitting in the bank. Or do you know another way of doing it?

2007-02-22 05:41:57 · 3 answers · asked by Anonymous

The transaction was in Illinois.

2007-02-22 05:40:42 · 6 answers · asked by emkay60613 2

got a 30 notice and theirs a big long waiting list in all the aparments

2007-02-22 05:26:50 · 6 answers · asked by thelma s 1

I was given a 30day notice and I plan to fight the reason behind it (my rent is current and it stems from a disagreement regarding the utilities) but I anticipate being given a 3day notice once the 30day notice expires (which is the 5th of March) and then a notice to vacate. What should I do when I'm served with these papers?

2007-02-22 05:25:43 · 2 answers · asked by HelpWanted 1

my boyfriend has lots of money but no credit because he isnt from this country. i dont want to move in with him yet but i'll have to if i cant find him a place.
any suggestions on how i can find him a place that wont require a credit check?

2007-02-22 05:21:19 · 8 answers · asked by Anonymous

Where is it in Florida where the rent for a house is lowest

2007-02-22 05:19:38 · 1 answers · asked by lilgman424 2

I'm currently goin through the Foreclosure process and I've just retained a lawyer to try and reinstate the loan...has anyone out there ever gone through this before? anything you can share? Really scared i may not have enough to re-instate the loan...I should get those figures next week.

2007-02-22 05:04:21 · 3 answers · asked by Anonymous

I heard recently that we would save money or have less interest or
something if we make our house payment in sections throughout the
month (2-4 times/month) . So, what I mean, is if our payment is
$1000/mth, then we would pay $500 every 2 weeks - or $250 each week
per month.

Does this actually help us? Does it change anything?

We got this info from my hubby's sister who was a loan officer of some
type for a short time. But, I'm just not sure if she is correct etc.

2007-02-22 05:02:12 · 9 answers · asked by GrassRootsRabbits 3