Renting & Real Estate - November 2007

2007-11-24 00:58:06 · 3 answers · asked by JAMES L 1

The looming housing crisis acutally seems fairly simple to forestall or fix. It seems to me that anything is better than a default, right? When the mortgage holder defaults, the lender gets nothing. Therefore, if there were to be a massive conversion of all these two year ARMs to reasonable fixed rate mortgages, the potential crisis could be wholly averted.

But this isn't happening. This leads me to believe that the banks actually prefer foreclosure and firesale which typically results in another mortgage. I think the problem may be that the mortgages are no longer held by the banks. They have been collateralized and sold as investment vehicles. So they bank is not left holding the worthless mortgage, rather, the CDO investor is left holding the worthless mortgage. Therefore, the bank doesn't really give a sht. But in this scenario, shouldn't the defaulted house actually belong to the investor rather than the bank? Can anyone comment intelligently on this?

2007-11-24 00:42:55 · 7 answers · asked by Anonymous

2007-11-24 00:18:39 · 2 answers · asked by Anonymous

How much does it cost? Does the real estate company you work for normally provide this kind of software for you?

2007-11-23 21:27:28 · 5 answers · asked by ღღ Cupcakez - Jayden's Mommy 1

I'm thinking of getting an agent license for the sole purpose of representing myself as a buyers agent when I buy my home. I've read that the seller's agent traditionally gets a certain % commission, which is then split with the buyers agent. I feel like I've done the leg work that the agent would have done. I'm confident in my knowledge of the buying process, already know which areas I want to live in, past/current home prices, etc.

2007-11-23 21:25:14 · 8 answers · asked by e8baller00 2

I am in my first year of interest only mortgage...(low mon. payment).... my mortgage broker says that there is no money paying towards the principal balance....and its eating up my equity.....after 2 more years i will need to pay a huge amount of cash!! he also stated that i cannot refi* because of a penalty?

im a first time buyer... please help. thank you people

what do i do?....

2007-11-23 20:52:59 · 3 answers · asked by aydenmedia 1

He is a liscensed builder, but will not repair anything without the city climbing down his back. When he does repairs, they are just awful, nothing is done right. At what point is he failing to maintain his property and doesn't this constitute a breach of contract since he's supposed to keep it up?

2007-11-23 20:10:33 · 4 answers · asked by Ann S 3

I am getting ready to move with my family to San Antonio. It is a sudden thing, so we have to find a nice place VERY soon. My husband has been there once a few years ago and he really liked the area around UTSA. How is that area now? Would you reccommend any apartments out there? I know the Northeast side is the best, so I'm looking for a nice complex...2 bedroom/2 bath flat for UNDER $750. We have to stay close to the airport.

I have been looking at Oakwell Springs and Foxfire. Are they decent living for a young family with a newborn?

2007-11-23 18:26:22 · 3 answers · asked by Anonymous

we have been looking for a new apartment and it seems like most of them will not let my husband, son and I move in because of a felony charge my husband has. its been years ago and its not even a violent/sexual felony charge he has...cant this be considered discrimination, since all housing here is equal opportunity housing?

2007-11-23 17:02:16 · 12 answers · asked by Anonymous

Is there a such thing as local, federal or state grants to assist with (closing cost or down payments, etc.) purchasing a house? If so how do I local or apply for them. I know there are vouchers that are offered for those with low income, but I do not qualify. Please help, this is for the state of texas.

2007-11-23 16:17:41 · 2 answers · asked by taylorlk@sbcglobal.net 1

there are 4 homes on one property. 2 single family and 1 duplex owner has said will consider selling 1 single family but do not know the legalities on splitting up property or if even possible. What costs are all involved? Any good web sites to look up info?

2007-11-23 16:16:09 · 1 answers · asked by debbie w 1

The place was paid in full last month. The final payment was sent with a letter asking for them to send us the title, which we will need in order to pay the taxes on the house. The people we bought it from have not sent the title and now all of the phone numbers for them that we have no longer work. Are we going to have to hire a lawer to take care of this?

2007-11-23 16:07:14 · 2 answers · asked by satanzsunbeam 1

Housing is telling us it is being fixed and it is not so could anyone help me.I have to trun my heat up in my appartment.

2007-11-23 15:33:44 · 2 answers · asked by B 1

when we bought the house i was still in school and had no income, so we put the house in my wife's name only. if we foreclose will this show up on my credit or just hers? we live in AZ and they have an anti defiency law. we owe more than we have in assest, so i dont think we would have to pay tax on a 1099c. anyone have advice and answers. thanks

2007-11-23 15:33:13 · 5 answers · asked by jeff 1

Also, we were considering doing this through Keller-Williams Realty. If you've ever dealt with Keller-Williams, what was your experience(Good/Bad)?

2007-11-23 15:17:25 · 9 answers · asked by Anonymous

I was a co-signer for an apartment for my sister and she didnt finish the lease. Does it look bad on my credit? What can I do it fix it or explain it when I go to rent?

2007-11-23 15:03:22 · 2 answers · asked by Anonymous

I was a co-signer for an apartment for my sister and she didnt finish the lease. Does it look bad on my credit? What can I do it fix it or explain it when I go to rent?

2007-11-23 15:02:55 · 1 answers · asked by Anonymous

We are buying the home my husband grew up in. It was converted into apartments when his sister aquired the home. There are some problems with the home and we need to vacate the home to fix these problems, would the responsibility of removing the tenants fall upon my husband and I or would it be his siters responsibility? We are planning on returning it back into a one family home. There is no lease becuase the tenant is another sister who refuses to leave but can not buy the house herself. My husband and this sister (the tenant) do not get along.

2007-11-23 14:49:59 · 7 answers · asked by veebbert 2

I live in Owings Mills, MD. My car has been hit multiple times outside of my apartment. Also the other night my fiance caught a man trying to break into my car. I also recently got a new job and find it extremely inconvient to live in the current conditions. I need strong legal advice and serious help PLEASE! I don't have money to pay multiple months of rent.

2007-11-23 14:37:39 · 13 answers · asked by Jazipoo 2

We rented a home about 6 months ago, and he decieded he was tired of the family life and wants to move on. So he is leaving us penniless and with no available income. He is only thinking about himself and not about where the kids and I will be going. He is trying to rent the house to some other people, out from underneath me so he can get his name off the lease. Since both of our names are on the lease, doesnt he have to have my permission or dont I have to say I want out of the lease also. Can he just get someone else in here and have the management company hand me an eviction notice when hes through. Thank you for taking the time to read my question. I am trying to rent out a room the master at the moment so that the kids and I have a place to stay but its taking a while.

2007-11-23 14:37:20 · 4 answers · asked by aalshafi 1

Balcony in question is fairly large, maybe 5X10. Balconies were added several years ago during a renovation. Local historical preservation committee approved the balconies and renovations. US Parks Department says they must go. The compromise reached between landlord and US Parks Department is to reduce the size of balcony by 50%. I want to stop this more than be compensated (ie reduced rent), as I will no longer be able to enjoy cooking out, sitting in front of the chiminea, or have friends and or family over to watch fireworks from a fantastic vantage point. The landlord has already told me there will be no reduction in rent. This seems like a breach of contract to me. I would like to know if I have any options to stop this from happening and if I have any right to compensation, and if so, what is reasonable compensation.

2007-11-23 14:18:52 · 3 answers · asked by J Garrison 2

We reside in Illinois, my grandpa died last year my grandma died last month but what happens to the vehicles and house they have??? The lender says they are going to repo the car if we dont sell it and the house has a lien from a loan the home was paid off years ago. The company with the lien says if we dont pay off her debt they can foreclose on the house---i am hearing that cannot happen if the companies are served with a death certificate everything should be written off and balanced out and the family keeps the vehicle and home IS THIS TRUE?

2007-11-23 13:47:37 · 8 answers · asked by jenniferiswhoiam 2

I recently bought a co op unit and I am going to sublet the unit. The co op requires the tenants to go through an interview with the co op board. i can understand why co op boards may require the PURCHASER to go through this process (to make sure they have the financials to be able to pay the maintenance etc. ) but why do some co ops require the TENANTS to go through this process?
thanks

2007-11-23 12:40:51 · 3 answers · asked by tom 1

I closed my home 12/03 and did not get any statement for association fee until now. When I called the HOA in the past, they mentioned that our house has not turned over to them yet which means the builder was supposed to take care of association fees. Now my builder filed chapter 11 bankruptcy, HOA is billing us 3 yrs worth of association fees. In this case, am I liable to pay the whole amount? Something is fishy. It can not slip HOA's radar for 3 yrs. On top of that HOA is charging us late fees! It's obvious that HOA trying to scrape as much as money they can from me. I'm more than willing to pay any portion I'm legally liable for. Any expert in this field, please chime in.

Thank you in advance.

2007-11-23 12:36:14 · 1 answers · asked by E H 1

We are trying to make a sheet to put in front of the house we are selling ourselves. I think we need to stick to the facts like room sizes, year built, price. That way people can compare our house apples to apples against others. My mom wants to put a paragraph instead - all flowery language and trying to "sell" the house with adjectives and imagery. She doesn't want to put details like room sizes or even the price. She wants people to call for those. Either way we will have a few photos, but I say bullet points/facts, she says creative writing. What do you think? Any good websites that have suggestions as to which way works better to sell a house?

2007-11-23 12:26:52 · 5 answers · asked by jls5175 1

So how old do you have to be to be a real estate agent and what is required to become one?

2007-11-23 12:22:58 · 3 answers · asked by Its Me at the door!! 1

My landlord recently went into foreclosure and didn't inform us. I found out when I received a letter from the Realtor acting as a representitive of the bank. However, this Realtor has already misinformed me as to my rights as a tenant - saying that although it's been only 10 days since I received the notice to evacuate the premises, and even though I paid my rent for November, that I am a 'tenant in sufferance' and that I am living here illegally - and refuses to provide me with the name of the bank who he represents, and who actually owns the property.

My question is, how do I find out who the bank is, so that I can deal directly with them regarding the refund of my escrowed security deposits and our evacuation date?

2007-11-23 12:01:01 · 3 answers · asked by B. R. 1

gain tax amount is on a "mobile home" in California?

2007-11-23 11:42:12 · 1 answers · asked by coppertv 1

We bought it for $60K and hope we have about $10K in equity built on the house. We have not yet had it appraised and aren't sure what costs would be involved either. Are there companies that sell inexpensive but effective marketing tools?

2007-11-23 11:36:53 · 9 answers · asked by RegainingFinancialControl 1

Is there a calculator that I can use online to determine the future equity of my home, lets say in 2 or 3 years or can I count on it being roughly what it is now which is with the appraisal $12,000.
Does it depend on the appraisal of the home?

We have lived in this house and been making our payments since 2004. We have only paid off roughly $3000. and the pay off is approx $32000 however it appraised at $45000 we have done some work but not much a new roof , sheet rock etc. What Im wanting to do is take the equity out so that I can continue to upgrade the home and in about another 2 years I am going to want to refin can this be done?

2007-11-23 11:27:55 · 3 answers · asked by thecrew74 1