Renting & Real Estate - August 2007

particularly in southern california.

when will it get realy big again? next year? next 2 years?

2007-08-20 22:28:44 · 7 answers · asked by intestinal mucous 1

My partner and I have separated last month we both have a joint mortgage but he is refusing to pay his half as he says he doesnt live there now but I cannot afford the full mortgage on my only wage I also have a son took look after can the mortgage company chase him for his half or not? I have not contacted the company yet as I have mixed reactions from friends they said that the company is not bothered if you have parted or not all they are bothered in is recieving the monthly amount so I am a little reluctant to call them!

2007-08-20 22:07:03 · 6 answers · asked by heavensabove007 1

2007-08-20 21:40:10 · 4 answers · asked by paul t 1

I was having a party the other night when I decided to show someone on ebay a piece of clothing I was interested in. Well I guess I forgot to log out and the next morning I find out someone at the party bid on a boat and won it. I've contacted the seller and they said they don't care and they want the money (almost $3000), and if I don't pay they will take me to court. What can I do, the seller will not back down and I simply don't have the money?

2007-08-20 19:04:20 · 3 answers · asked by Anonymous

4 years ago my wife and myself purchased a home in Ma. Needless to say, We paid alot. At the time, the market was hot and we had relocated from a market which had a significantly lower home prices. In order to continue living in the lifestyle we had grown accustomed to, we did some "creative financing". We took out a no interest loan for the first 2 years and were lucky enough to refinance before the market cooled down. We also took out a Home equity line of credit. We were able to secure good interest rates on both but the monthly output is substantially more. Combine this with a few life changing events, we find ourselves on the verge of forclosure or bankruptcy. Are there any better options available? If not, which of the 2 options will be easier to recover from? By the way, selling the house is out. It will not appraise for what we owe.

2007-08-20 16:35:38 · 7 answers · asked by limehead58 1

Im looking into this 5k house and the agent tells me I need proof of funds why is that can I just give them the 5k and own the house its a fanniemae property does that effect the home buying process becuase I want this property asap.

2007-08-20 16:09:33 · 6 answers · asked by josh d 1

I might be interested, but I've heard good and bad... What are the pros/cons of owning a timeshare?

2007-08-20 16:08:52 · 8 answers · asked by skobie 2

Do I use a quit claim deed or a grant deed?
Thanks

2007-08-20 15:58:44 · 5 answers · asked by Mr. love 3

I am currently renting and a home across the street has recently become available for sale by owner. I have recently applied for a mortgage but my approval requires me to complete several items that may take a few months.I approached the owner with the possibility of a lease/option agreement so I may move into the home and leave the rental property. The owner mentioned today an option "fee" of $7,500 and monthly rent of $1,500 with a final purchase price of $173,900. Does the option fee typically get applied to the purchase price when I complete the sale? Should I request a percentage of my rent to be applied to the final purchase price as well? I haven't received any of the paperwork yet but just wanted some ideas. I am new to this.

2007-08-20 15:57:05 · 6 answers · asked by massdjs 1

Had this debate at work today regarding the subprime mortgages. It seems that a good number of the people that took out these mortgages would have put down less than 20% for their home. As a result of having to put down less than 20%, wouldn't the people taking out the mortgages have to pay PMI. Wouldn't PMI allow the lender to recover any costs that were not able to be gotten from foreclosure? While we can see a reduction in profits, we have difficulty in understanding why these high rate loans would result in a company going under due to the PMI.

2007-08-20 15:53:01 · 6 answers · asked by chicago3200000 3

I purchased my home in Dec'06 and now I want a copy of the appraisal that was done then. I asked for it upon closing in December & was told it was the property of the mortgage co, so I didn't get it but was told the value of the appraisal was $270,000. My bank has since sold my mortgage to another bank (in Jan'07). The purpose of this is so that I can ask to have my PMI charge removed. The obvious solution to me, would be to go back to the original mortgage co & ask for a copy of the appraisal that was done in Dec'06. Thanks!!

2007-08-20 15:40:47 · 3 answers · asked by cali 1

I let my sister live in my vacant house will she got back on her feet. we have no lease agreement, she was to pay $650 a month she is now 2 months behind and i gave her a letter with a witness of the date to vacate which was august 1st. she has not left. do i need to go thought the courts to get her out or can i remove her stuff with out legal recourse from her.please let me now thank you.

2007-08-20 15:22:37 · 8 answers · asked by Keri P 1

What exactly is their profession that allows them to take 3-6% out of a sale? Did they go to college? Did they build the house? And what exactly do they do? Open doors? Shake hands? Be somewhere 9-5? Print fliers? Why can't people just sell the house on their own and keep every penny? A house is a house, hardly any bad house in a bad neighborhood can be sold otherwise than it is. Can it?

What justifies somebody who does less work than a hamburger flipper to make more per hour overall?

2007-08-20 14:42:26 · 14 answers · asked by Smartass 4

I currently own a home in Southern Calif and I owe about $100,000 on it at about 5%. I am moving to Detroit area but don't want to sell the house and would like to pay it off and own and then rent it out. I also have to buy a house in Detroit when I arrive and am getting $27,000 for expenses for the move. Do I take down payment money out of my 401k for the new house or do I pay off the old one with money from my 401?? How else can I pay off the old house and still purchase a new one up north. I currently have about $280,000 in my 401.. Any suggesstions??????????

Thanks
gmoney

2007-08-20 14:41:50 · 6 answers · asked by gmoney 1

2007-08-20 14:38:03 · 3 answers · asked by abcrtz 2

I always thought it was lame to 'invest' in real estate or use it as an excuse to deduct taxes. But please correct me if I'm wrong.

I assume depending on region and location, taxes may exceed your tax deductions by having a mortgage.

So my question is, is to save on taxes a good reason to own a house (good enough to be the only reason to put yourself in otherwise unncessary debt)?

The way I see it is : if it's an investment, the appreciation is taxable. If it's depreciated, you lost, plus you had to pay your mortgage on interest. Either way you've put yourself in a spot where you need to work more to pay the bills, which means you're barely living in the house you're working and paying for. What's the point?

2007-08-20 14:27:16 · 2 answers · asked by Smartass 4

I've heard that the money I make off of the house could be penalized via capitol gains? Or that I might have to "do" something with the profit such as use it toward another home? I want to use the money to pay for schooling and to live off of while attending school, is that possible?

2007-08-20 13:59:20 · 4 answers · asked by Anonymous

Honestly Could you guys just reply back with dos and donts. Like maybe certain mistakes that you made which you can tell me so I will not do the same. Buying A house seems to be one of those subjects that I cant get alot of information on.

I am Military,Married I have excellent Credit and my cars are paid off so Idont have extra bills.
I am looking for somthing in the alabama tn or ga area. Mainly Georgia.
I was told not to get a mortgage that is more than 30% of your monthly income.. I was also told to wait about 2-3 more months to watcxh the prices drop on houses.
Im looking for the 110,000.00 range I have no kids. and I was also told to perhaps buy out a duplex and rent the other one out.

2007-08-20 13:43:07 · 7 answers · asked by Anonymous

If you are planning to buy a foreclosure, would it be good to have an experienced estimator on your team?

2007-08-20 13:33:06 · 5 answers · asked by Lion J 3

CMHC has stated that I need a co-signer for my mortgage yet my bank has approved the loan. What are the risks for my friend if he co-signes? Is there any way of by passing CMHC?

2007-08-20 13:09:13 · 4 answers · asked by garydee22 1

2007-08-20 13:03:39 · 2 answers · asked by Ry 2

Hello all:

Above I extracted some text from the site forsalebyowner.com
It explains the benefits for real estate agents, to join the site.
Everything seems related to this MLS thingie...check the text:

What is the ForSaleByOwner.com Agent Network?
The ForSaleByOwner.com Agent Network allows licensed real estate brokers to capitalize on the rapidly growing Flat-Fee real estate market. ForSaleByOwner.com has paired the marketing power of the MLS with the efficiency of the Internet to create a hybrid real estate marketing solution for consumers that is extremely popular.

If need to see the full text, go here: http://www.forsalebyowner.com/realtorSignup.php

Can anyone please explain what is this MLS thing, and how does this work in the site? ITry to explain this to someone that is building a Real Estate site, and needs to understand the process of the MLS feature.

Regards
Nuno

2007-08-20 13:02:28 · 5 answers · asked by ncl_at_yim 1

after i find the house i want, then what? get a loan? and then make an offer or make an offer and then get a loan? and what after that?? this is my first time

2007-08-20 12:54:12 · 4 answers · asked by Lissa 2

2007-08-20 11:58:30 · 8 answers · asked by kristajade 1

if foreclosed homes are so cheap and such a good deal, why do people by regular houses at all?

2007-08-20 11:50:36 · 4 answers · asked by John L 2

I'm needing information on how to remove my "x"'s name off the deed to the house. She has since moved to another state. I have asked her to quick claim her name off the deed and I have been unsuccessful at getting a response. I need to know if there's any other action I can take. This binds me with the hosue I can not refi or anything with her name on the deed.She has made no attempts with Payments or upkeep. Also need to know what typreof Lawyer I would need to assist with this

2007-08-20 11:08:36 · 11 answers · asked by Susan W 1

She owes $130.00 0the condo is worth about $90,000 if she lets the bank have it back can they force her to pay the additional $40,000?

2007-08-20 09:59:58 · 5 answers · asked by Lantz 1

i currently rent a home. i am thinking of buying it. who has the best price or free title search. i live in sanford florida usa. any input would be greatly appreciated.

2007-08-20 09:32:45 · 10 answers · asked by link00777rl 4

Does anyone play Robert Kiyosaki's Cashflow game?

2007-08-20 09:22:11 · 2 answers · asked by saberhilt 4

2007-08-20 08:57:44 · 7 answers · asked by charles l 1