Renting & Real Estate - March 2007

I was wondering how foreclosure through a bank works? Such as, does a person default on thier loan and someone else takes over the remaining debt?

2007-03-18 14:31:20 · 2 answers · asked by Dannai 1

How can I find out how much it is worth without hiring a realtor?

2007-03-18 14:10:29 · 1 answers · asked by Anonymous

I am looking for a website where I can download a standard rental agreement to print out for renting apartments (thinking about buying a triplex).
If you know where I can get a standard rental agreement (lease) online for free to check out, plz let me know!
Also, I live in Ontario Canada, if it makes a difference!

2007-03-18 14:07:02 · 5 answers · asked by melaniecampbell 3

My husband and I have rented a home for more than 2½ years, and have kept meticulous records of our rental payments and receipts. We have also made some dramatic improvements to the property, such as fencing, ceiling fans, new flooring, etc....with permission from our landlord.

Now, we are finally ready to buy a house, and he's suddenly claiming that we still owe him SEVERAL rental payments, dating all the way back to the first year we lived here. When we showed him our receipts, he said they were forged, yet they were written by his hand. He's now threatening us with court for the extra money.

I know the rental laws in Alabama recently changed, and he's facing a multitude of repairs upon the property before he can rent it OR even sell it now. Do you think this is why he's claiming this.......so that we end up either staying or paying for what could amount to thousands of dollars in repairs on this place?

What is our legal recourse here????

2007-03-18 13:56:43 · 3 answers · asked by Critter Lady 4

I have the opportunity to buy a double and turn it into a large home. The foundation can use some work on the inside, new windows needed and the desireablity of the neighborhood is poor due to abandoned homes, drunks hanging around and a neighborhood corner store nearby does not help. The past 3 years improvements have been made in the surrounding areas, there are a lot of abandoned homes nearby, some a fixed up and waiting for someone to move in, but there has been no sign of residential growth here. Would you say that to invest money into turning the home into something that would have far more value than the area itself would be a loss, or should I just invest and hope that things will improve enough to where the investment would be worth it? I am waiting to buy a home that needs no improvement at all, just move in!! What suggestions are there and does it pay off in the long run, will it cost more in the long run or should I just move into a home with no work to be done .

2007-03-18 13:52:57 · 3 answers · asked by D. D. 2

2007-03-18 13:52:57 · 4 answers · asked by Lisenia d 1

My credit is not great, but decent. I didn't answer the criminal record questions because I have 10 yr old misdemeanors. I was denied today for an apartment who uses a company called First Advantage Safe Rent Inc to decide whether a potential tenant should be apprved or declined and I was declined.

2007-03-18 13:48:23 · 9 answers · asked by ldivace1 2

2007-03-18 13:47:20 · 2 answers · asked by monseedin10 1

My fiance and I are thinking about buying a triplex that has 3 units- a 3 bedroom, a 2 bedroom and a 1 bedroom. It is in a small town (about 2 thou ppl).
We have a 5yr old son, and a baby on the way this summer. We have the opportunity to buy this triplex for a GREAT price (under $130k) and are seriously considering it. It is in good shape, only needs new paint and some landscaping (so says the home inspector). We could easily rent out the 2 smaller units to pay for our mortgage and utilities.
My ? is- pros and cons of being a landlord in the same building as your tenants? Is it worth it, as a first time home buyer (though we rented a room in a house we rented for a few yrs, no problems with that)...
Also, what lease terms are standard for apartment rental?
We were thinking- pets allowed with a deposit, 60 days move out notice, own utilities (its seperately metered), paint allowed w. approval, etc...
So, being a landlord- worth it or not?
THANKS!

2007-03-18 13:29:02 · 7 answers · asked by melaniecampbell 3

2007-03-18 13:23:31 · 1 answers · asked by Daniel M 1

Ok, for your first mortgage on a house, the one you are using to buy the house, do you have the use the entire loan to pay for the house, or can you use on things like fixing the roof, getting new doors, rewiring the house, a generator, and buying appliances(washer, dryer, fridge, stove ect)?

My question sounds a bit rambled so here is an example.

House costs $40k.
You are able to get a loan for up to $60k.
Can you use the remaining $20k on updating the house, and purchasing items for it?

2007-03-18 13:17:55 · 6 answers · asked by asimpledork 2

2007-03-18 13:06:25 · 1 answers · asked by amstarlender 2

2007-03-18 13:02:35 · 7 answers · asked by monseedin10 1

Thank you.

2007-03-18 12:56:24 · 1 answers · asked by Anonymous

2007-03-18 12:49:10 · 7 answers · asked by RICK 1

my house is 14' wide X 80' long..how do I calcualte the total square footage of my house?

2007-03-18 12:42:33 · 3 answers · asked by .::country gurl in a 4X4::. 2

Are the tax breaks only felt when you file your yearly taxes and get a refund, or can they be felt on a monthly basis once you purchase? I really need to buy because rent in southern California is so high, but as a single mom, I am not sure if I can afford to buy. Any insight you have on this matter will be appreciated.

2007-03-18 12:38:45 · 6 answers · asked by MO 2

I am looking into purchasing discounted property using a hard money lender to ease the initial purchasing process. i will have instant equity in the property. after purchase i will need to get a loan in my name from a traditional bank to pay back the hard money lender. technically because of the hard money lender i will not have a first mortgage on the property. at this time i would also like to take out the equity i have purchased. i have been told that i may only be able to get a loan for what is owed to the hard money lender until 6 months after purchase, and need to get a HELOC for the equity. then in 6 months refi. i don't want to pay a prepayment penalty and would like to pay off the hard money lender and get the equity and keep one payment.

2007-03-18 12:08:55 · 2 answers · asked by split88wrex 1

I fell behind on my payments 3 mo and they served me forclose papers. I called them and will not take the payments frome me. They send me all type of workout plains But when it comes down to it its all BS. I see now in the news New Centry is being bared frome doing any actions in alot of states. I think they are playing games with me now. A forbairance deal should not be a problem. Do I have a good case? I am only 3 Mo in arears!!!!!!

2007-03-18 11:49:25 · 10 answers · asked by skillwithtools 1

I had a house which I was always late on my mortgage and hanging by a thread, and they would threaten to take my house, which I always kept paid enough where they couldn't foreclose on it....then, I got a job, which I get to work and have a house without all the bills to pay, but, have never received one letter about that they foreclosed, my brother was going to buy it, which they didn't know, for almost all I owed on it, and they wouldn't let him do it, and now, I've heard that it's probably in limbo, this has been a year now, and have heard nothing, and someone told me they are supposed to inform you you are in foreclosure, when it's sold, and you have a year to get it back if you want, paying up and expenses, but, also was told if they foreclosed on it, I'm supposed to get what I put into it also, so what do you think, do I call and tell them, my attorney told me this, which he did, and see or just sue or what, any ideas of houses being foreclosed?

2007-03-18 11:35:10 · 5 answers · asked by Confused 3

2007-03-18 11:29:06 · 2 answers · asked by brian 1

We have a small house on five acres of land with a small barn and other out buildings. We rent it for $300.00 a month which is very reasonable I think. Our farming operation has expanded and we have hired help starting the first of April who will be living on the acreage.
I gave the renters notice the first of February we would need the place April first, giving them ample time I thought.
We have not received any rent for Feb or March and the $300.00 deposit I charged them when they moved in will not nearly cover the damages they've done.
What should we do?

2007-03-18 11:25:01 · 7 answers · asked by Anonymous

My current interest rate is 7.5 percent. Plz help. I have an adjustable rate and I am looking for a fixed rate; either a 30-year or 40-year loan...plz help...I CURRENTLY OWE 232,000 ON THE TOWNHOUSE....I AM LOOKING TO REFINANCE

2007-03-18 11:24:31 · 6 answers · asked by rontonton52 1

2007-03-18 11:16:27 · 3 answers · asked by robinsonnate4959@sbcglobal.net 1

I am trying to get a feel for what is going on in local markets. Mostly US or UK.

If you can follow the link and answer there it would be best. That way more people will be providing an answer so we might get better results.

Thanks in advance.

http://johncorey.wordpress.com/2007/03/18/are-house-prices-up-flat-or-down-in-your-area/

If you just want to post comments here I can collect the info and summarize there. Assume I will post a comment once the question is closed with the summary data.

What I need is for you to pick one of the following:
Prices are up, flat or down.

Then I need to know what city, state/provence and country. That way I can map the responses to the specific communities.

Best to post on the blog but do what works for you.

Thanks in advance.

2007-03-18 11:16:27 · 8 answers · asked by Anonymous

Owned home just 3 weeks before first rain.Sellers agent said the seller moved from area and did not leave a number to reach them for payment of repairs. So I have to pay for repairs myself. Is this true? Is the agent responsable since they represented them in the real estate transaction ?

2007-03-18 11:15:24 · 10 answers · asked by aldef70 1

2007-03-18 11:02:39 · 2 answers · asked by misspriss 1

Broker Betty advertises that the famous architect Art Chitect designed Wanewright House. Peter Purchaser enters into a purchase agreement to buy Wanewright House. A further-approval contingency that allows the buyer to either confirm the broker’s representation or cancel the transaction is not included in the purchase agreement. The Betty Broker’s representation is considered fact.

Before closing escrow, the Peter Purchaser learns that no evidence exists to prove that Art Chitect designed Wanewright House. Betty Broker recommends the buyer cancel escrow, which the buyer refuses to do. After escrow closes, Peter Purchaser seeks to recover money from the broker for the diminished value of the home due to the misrepresentation concerning the design of Wanewright House.

Betty Broker claims that Peter Purchaser is not entitled to recover any money since he proceeded to close escrow with the knowledge that no proof existed that the architect designed the home.

2007-03-18 10:53:09 · 4 answers · asked by enigma405 1

2007-03-18 10:43:14 · 4 answers · asked by pooja 1

Broker Betty advertises that the famous architect Art Chitect designed Wanewright House. Peter Purchaser enters into a purchase agreement to buy Wanewright House. A further-approval contingency that allows the buyer to either confirm the broker’s representation or cancel the transaction is not included in the purchase agreement. The Betty Broker’s representation is considered fact.

Before closing escrow, the Peter Purchaser learns that no evidence exists to prove that Art Chitect designed Wanewright House. Betty Broker recommends the buyer cancel escrow, which the buyer refuses to do. After escrow closes, Peter Purchaser seeks to recover money from the broker for the diminished value of the home due to the misrepresentation concerning the design of Wanewright House.

Betty Broker claims that Peter Purchaser is not entitled to recover any money since he proceeded to close escrow with the knowledge that no proof existed that the architect designed the home.

2007-03-18 10:35:57 · 4 answers · asked by enigma405 1