Renting & Real Estate - February 2007

if my client wished to buy one condo in a condominium building and then rent it out as affordable housing for a section 8 tenant, would that be impossible?

i think it wouldn't be possible because of the rules and regulations of the condo board. first, condo boards try to keep owner occupants at 80%, with investors less than 20% so that banks loan to live in owners more easily.

so it doesn't follow to me that a condo board would allow an investor to purchase a condo, then getting HUD approval to allow for section 8 housing.

am i correct? if you ever heard of that scenario panning out, please let me know what the name of that condominium is, and where it is. THANKS!!!

2007-02-16 12:23:02 · 6 answers · asked by Louiegirl_Chicago 5

2007-02-16 12:20:47 · 9 answers · asked by Robert B 2

Or can I say that each tenant is responsible for their own spot?
Am I liable if someone falls and hurts themselves??

2007-02-16 12:07:55 · 6 answers · asked by Ellie 1

2007-02-16 11:57:15 · 5 answers · asked by bigjammie113 1

2007-02-16 11:53:09 · 4 answers · asked by Anonymous

2007-02-16 11:52:03 · 2 answers · asked by Imposter 1

i had given my notice so i needed to vacate my apt. there was no time to clean her apt. and.......DAMN..........it was ........NASTY..... her dogs had messed on the carpet the toilet was black & moldy the kitchen floor need to be replaced and the the upstairs apt. floor squeeks . the landlord keeps leaving notes telling me my plants are in the walk way and to remove them. they are not in the way!!! last week the guy on the 2nd floor yelled out "get these g__damn plants out of here. the neighbors are unfriendly no one speaks to each other and i have never felt so unwanted in a place in my life. i cannot even consider staying a year being so unhappy with my home . how can i break my lease so that i can go somewhere where people are normal.

2007-02-16 11:11:11 · 3 answers · asked by Anonymous

the bank want to make some kind of deal with us to get out soon. i'm perfectly fine with that but i don't know what kind of deal to expect. there are seven months left on the lease at $3000 per month. the bank took our lease to determine it's legality (or something) and said they would get back to us. how much can i reasonably expect to see from this?

we do not know the exact date the landlord got forclosed on. is he required by any law to inform us? also, he still has our deposit and possibly some rent money he collected from us after the house became the banks property. are we entitled to our deposit? how can we get it back if he never returns our calls? another issue, we haven't had heat in months and even after numerous calls, he never fixed it. is there anything that can be done about that?

2007-02-16 11:10:05 · 7 answers · asked by charlie other 2

I would like to know if there is a government or private organization that helps young families purchase their first house for non-qualify TRW. But the current owner will transfer all equity to the lending Co.

2007-02-16 11:07:21 · 4 answers · asked by Annie 2

or where can one go to learn more about doing it, more specifically in Phoenix Arizona.

2007-02-16 10:35:53 · 6 answers · asked by Anonymous

how long in a job , what kind of wage earned, circumstances etc

2007-02-16 10:30:57 · 12 answers · asked by Anonymous

Will the loan companies make exceptions if I have excellent credit?

2007-02-16 09:32:52 · 7 answers · asked by Anonymous

I just read on Yahoo.com that the real estate market in New Orleans is on the rise! How could this be? I thought their problems were plenty!

2007-02-16 09:21:34 · 6 answers · asked by "Corey" 3

I am a mortgage broker. My customer was going to buy a house, but decided that they didn't want it cause the Furnace and water heater are broke. Well they put down $500 in Earnest money and got early entry into the home. My customer is paying rent. The realtor refuses to have the seller sign the Earnest money release (title company has it) because she wants it used as a rental security deposit. Customer is buying a different house and wants this money back. Are they entitled to it before moving out? They never signed anything for rental. Realtor is saying Furnace and Water heater was fine when they moved in and my customer is responsible....any help or ideas? The house is in Missouri.
Thank you

2007-02-16 09:04:21 · 10 answers · asked by roybfizbo 2

I select option arm payment for home loan. The 1% interest monthly payment is 1500, if I pay 2000, will 500 go to my principal? Can I do that or I only have 4 payment options (min, i/o, 30, 15)?

2007-02-16 08:45:49 · 5 answers · asked by PMfan 1

2007-02-16 08:33:53 · 3 answers · asked by Neo 2

I rent a house from a letting agency. I have not even been in the property 6 months yet and I have been sent a bill from the Rates Collection Agency for £440. I'm not sure if this is for the whole year or not. I believed that my monthly rent included my rates. I was never told differently by the letting agency. Most rented properties in my area (if not all) include rates in the rental charge. I cant find my lease but I will ring my letting agency on Monday. I think they should have made it clear that I was responsible to pay rates seperately. My rent is £455 per month for a 3 bedroom townhouse. I live in N. Ireland and this is the average rent for a 3 bedroom house.

2007-02-16 08:10:37 · 11 answers · asked by K 2

If I go to different banks etc. to apply for a first mortgage will it hurt my credit?

2007-02-16 07:49:13 · 6 answers · asked by maggiemay 2

2007-02-16 07:47:54 · 3 answers · asked by Anonymous

I am applying for a rental, and I need to know what information on my lettter (besides dates and pay rate). I only want to provide what is legally obligated.

2007-02-16 07:41:28 · 1 answers · asked by Boston_Legal_Fan 1

I am closing on a house on Friday. The buyer wants to move into my house in the morning even though the closing is in the afternoon. Is this acceptable?

2007-02-16 07:32:01 · 10 answers · asked by babs 1

This is the first time I have ever purchased real estate, and both parties involved are selling by owner. I am considering a condo in a complex that ranges in price from $170,000's to $220,000's for 1, 2, and 3 bedrooms. The complex is 30ish years old. I am considering a 2 bedroom and the highest a comparable unit has ever sold in the complex is $192,000.

The unit I am interested in was appraised for $186,000 and everything in the unit was listed as in good condition. BUT the carpet is stained and torn, all the appliances but the fridge are still original and are rusted and dirty, the furnace is still original, and the kitchen floor (replaced 15-20 years ago) is peeling.

I have a home inspection scheduled for this weekend and the current owner is a very stubborn and doesn't seem to understand anything we discuss; he is still convinced he bought for $176k 9 years ago, even though the property transfer records say $116. He has done nothing, NOTHING, since he moved in. Any advice?

2007-02-16 07:29:04 · 12 answers · asked by Its Me 2

We put an offer in on a house and gave $3,000.00 in ernest money, the seller counter offered and we do not agree. The counter if far fetched and not worth the time to hagle. We would like to keep looking but need advise on getting my money back. Since ernest money is for an agreement to purchase the home and we have not aggreed. Also, should the ernest money be deposited into an escrow account before an agreement is reached?

2007-02-16 07:19:40 · 5 answers · asked by rhlkale 3

2007-02-16 07:00:33 · 6 answers · asked by Mark R 1

we have just bought a house through auction and plan on putting a new roof on it and selling it. does anyone know if there is a time line on keeping the house before we sell or could we sell it without even putting a roof on it? we bought it from a real estate company on an online auction if that makes a difference. also it is in a different state so we would like to sell it asap.

2007-02-16 06:56:53 · 3 answers · asked by krzkuran1 2

Does anyone work for Foxtons that could give some insight to what it is like to work for them? Basically starting from the bottom...

2007-02-16 06:54:00 · 1 answers · asked by greg b 1

2007-02-16 06:45:41 · 5 answers · asked by Chriz 2

I am looking to build a home in The Coachella Valley area. I am having a difficult time locating the cost per square foot to build. CAN ANYONE HELP ME?

2007-02-16 06:36:27 · 2 answers · asked by CrazyAces 2

I had my home appraised Feb. '06 and took out a mortgage. (the home was paid for) I now need additional monies and want to get a HELOC (home equity line of credit.) It's been exactly one year since the initial appraisal, do I now need another one? If so, why? And what's the time limit, ie., if I had done this 6 months into the initial mortage would I have needed an additional appraisal?

2007-02-16 06:25:08 · 11 answers · asked by Tracyi B 2

2007-02-16 05:51:41 · 5 answers · asked by rotary67 1