Renting & Real Estate - March 2007

I have been operating a large rental community in Illinois for a couple of years. I handle all tenant relations and rent collections, and all aspects of management for the property. I am not officially an owner of the property, tax-wise, but it is owned by family. If I do need to obtain one, how do i do so without having a broker to sponsor me?

2007-03-05 08:22:14 · 2 answers · asked by Andy Jones 2

My husband and I need to refinance our home to lower our monthly payments. We are paying 9% right now. We both have bad credit. About 4 years ago we started getting behind and couldn't make credit card payments. It was either pay them or pay our house payment. So I just didn't pay them. We also have some unpaid medical bills that our insurance didn't cover after the birth of our daughter. The creditors are always on our backs. In May we will be eligible to refinance our home (we had a prepayment penalty clause in our mortgage agreement). What chance do we have of getting a lower interest rate and lower monthly payments? Any help is greatly appreciated!

2007-03-05 07:47:46 · 9 answers · asked by dara91562 2

They need to sell before foreclosure, but have minimal funds for cosmetic repairs or closing costs.

2007-03-05 07:43:59 · 4 answers · asked by panthrchic 4

I'd be willing to buy a home that was foreclosed on. Are those things for real? Can you really just start paying the mortgage on a house without a downpayment?

I am of course expecting dilapidation-not so nice area, etc. But is it possible to become a homeowner this way?

2007-03-05 07:37:49 · 5 answers · asked by Year of the Monkey 5

I currently live with a couple of roommates, and it seems like together, we could finance a pretty decent mortgage, given the amount of rent we pay a month. I really don't actually plan on doing this, for a myriad of reasons, but I was wondering if it was even possible? Can several (3-4) people co-own a house? How does the mortgage work?

2007-03-05 07:26:36 · 5 answers · asked by shiva.harris@sbcglobal.net 2

2007-03-05 07:25:36 · 11 answers · asked by Lori D 2

Recently made an offer on a home. It is in great condition, at least to the naked eye. Seller's accepted our offer and we are in closing. Seller requested a fast inspection of the property. When we looked at the property, we noticed that the power to the property had been shut off. This was a divorce sale and neither party would pay the utilities. Anyhow, we requested through our agent that the utilities MUSTbe active for a proper inspection to be done. As noted by our inspector, the inspection would only be half good without power. The selling agent assured us the power would be on.

Well you guessed it. Inspector shows up and there is NO POWER! Selling agent states we still must follow through on the deal since we never put it in writing. I called BS as no inspection is an inspection without power???? It's like asking someone to test drive a car with no tires. Can I legally back out of the deal?

Thanks

2007-03-05 07:22:50 · 3 answers · asked by Anonymous

Anyone with any info. in this will be great. I live in Kentucky.

2007-03-05 07:18:52 · 7 answers · asked by VAL 2

the nursing home can touch it

2007-03-05 07:17:37 · 9 answers · asked by ARLENE C 1

and we only have a couple hundred dollars for down payment but have heard about grants helping you with a down payment and closing cost does any one have any info about them ??
or a website that doesnt sound like jeberish when you read it..
much appreciated

2007-03-05 07:10:44 · 12 answers · asked by angie c 2

I'm a single, working mom who is interesting in buying a home. My credit is okay, but have no money for a down payment. This will be my first home. Are there any programs for first time buyers? Can I get away without a down payment?

2007-03-05 06:57:20 · 9 answers · asked by Anonymous

2007-03-05 06:45:57 · 4 answers · asked by Salsa 3

our landlord put our house up for sale and gave us only 60 days to get out,we also have a infant , i heard that he cant do that with a infant , i think its more like 3-4 months any help would be appriecated..

2007-03-05 06:27:25 · 4 answers · asked by tomsinex 2

If the house is worth 200,000. What will the house tax be based on 100,000 or 200,000 ?

2007-03-05 06:25:03 · 4 answers · asked by gary e 1

1.I bought a rental house for $164,495.00 in 2006. My closing costs were $1,055.57. The value of the land, as determined by the appraisal district, was $25,000 at the time of purchase. Which of the following is my cost basis? In other words, do the closing costs increase the cost basis?
a.$164,495.00 - $25,000 = $139,495, or
b.$164,495.00 - $25,000 + $1,055.57 = $140,550.57.
c.Neither choice is correct.

2007-03-05 06:15:10 · 4 answers · asked by lawrence_chiu_tx3 1

I was wondering if anyone from the Tennessee area can give me some information on differnet countys or townsips that would be good for me and my 10 year old son, as far as housing and schools

2007-03-05 05:55:19 · 3 answers · asked by la-la 2

2 bdrs front rm, family rm, dining rm , kitchen, utility rm patio off the kitchen, small basement, new furnace and water heater, roof is 3yrs old shade trees in back yard, small detatched garage, front porch, all new carpet in the living rm family rm and dining rm, both bed rooms have hard wood floors. neighbors do not bother you. very low taxes. If you like a small country town and living you`ll love this house. Population about 1,500 people. my heat bill runs on the average of$98.00 a month and the electric bill around $72.00 a month water sewage& garbage collection $45.00 a month. If you have a garden or swiming pool the will give you a 20% discount on two months of your water bill in the summer time. Also if you buy gravel or rock at the local rock quarry the city will deliver it to your house free of charge. I had all new insulation put in this house in november od 2006. refrigerater and stove stay with the house, any item you want to buy at a reasonable price will stay with the

2007-03-05 05:24:44 · 2 answers · asked by thebarber909 1

I am looking for a loft downtown.

2007-03-05 05:18:39 · 4 answers · asked by CM 2

I do not want the house and my boyfriend cannot afford it on his own but he wants to stay in the house and the relationship so he is making selling difficult. How can I get out of the mortgage and/or keep the sale of the house going forward?

2007-03-05 05:18:23 · 13 answers · asked by Anonymous

looking for housing that i can afford i been looking and its hard.

2007-03-05 05:08:35 · 4 answers · asked by Anonymous

I am a first time home buyer. I make about $3200.00 a month with o.k. credit. can you give me an idea on how much house I can afford? thanks.

2007-03-05 05:06:11 · 7 answers · asked by KinWin 5

My wife and I purchased a house a while back. We were talking to some friends and found that we pay quite a bit more than them while living in a similar neighborhood. What is an average and what could be considered "high"?

2007-03-05 04:55:12 · 4 answers · asked by Nick 2

looking to cut down my monthly payments on home loan. i will probably be living in the house for a max of 5 years. is an interest only mortgage financially wise? i have about 100K equity in home.

2007-03-05 04:32:53 · 7 answers · asked by roxiemack 1

i moved out of my apartment in ca. on 2-11-07 the place was in perfect condition (i lived there for 3 monthes lanlord was going to gut it and renovate and i was supposed to move to a newly renovated one but he took to long) how long till i give him a call to ask for the deposit, for the 21 days he has to return it which he already said he would and it was in my 30 day notice does that include weekends or do i not count the weekends. How long till i can give him a call to ask for it i had to pay him 2 security deposits.

2007-03-05 04:25:15 · 3 answers · asked by jdmprincess07 1

2007-03-05 04:21:49 · 12 answers · asked by Alma V 6

"They generally look at deposits only, and will use your last 12 month average of monthly deposits as your income. This enables you to go full doc, and you can easily get the loan done." - Advice given to me, but don't know where to find a mortgage company that will do this.

2007-03-05 04:14:31 · 7 answers · asked by thatgirl_913 1

I finally moved ouit of the hell hole i was living in and i sold some of my furniture to my ex landlord. i left quite a lot there and he wrote me a cheque to include my deposit and the money for the furniture. three days later he cancelled the cheque and sent me an email saying that he didnt appreciate me complaining to the council. I did this because of a leaking roof and a leaking boiler that were never fixed. He is now refusing to answer my calls, my emails etc and is refusing to give me back my money.

i filed a claim with mcol and it turns out that the bugger has moved, i asked him for his new address and he said that he no longer needs to supply me with his address. so i have a court case against him and nowhere to send it to. i did a register search and he was never registered at any address, dead dodgy if you ask me!!!

Anyone ever had to deal with anything like this? essentially he still has my furniture and my deposit.

2007-03-05 03:21:14 · 1 answers · asked by carolinepgray 2

We bought a $250,000 house last year and have a $90,000 30 year mortgage on it. We live in a nice peacefull village. My husband is getting a new job and is taking a significant pay cut. We should be able make our payments just fine as long as we watch what we spend. I'm in college and we will have a significant income increase in about 3-4 years. We are nervous about the economy and jobs and were thinking about moving to a town about 30 miles north of here where the houses are a lot cheaper. We could buy a decent house outright. Not quite as nice as we have now but still very acceptable. Although the community isn't quite as nice as our current one(we basically live in pleasantville) it is still nice with decent schools for our 2 boys. It also has cheaper taxes and cost of living. There is a great church there that I used to attend as a child also. We just keep thinking about what all that extra money could mean for the future of our family. What would you do?

2007-03-05 02:39:15 · 8 answers · asked by Anonymous

We rent out our basement (with 2 bedrooms) to a family of two (brother and sister). The sister pay rent on time, however, the brother has not pay the rent for up to 4 months now. Furthermore, damages have been made during their stay. We want them to pay the long overdue rent as well as ask them to move. Can I serve the mentioned notices at the same time?

2007-03-05 02:30:32 · 7 answers · asked by SFOTraveller 1

2007-03-05 02:09:56 · 3 answers · asked by John A 1