Renting & Real Estate - November 2007

If a bank has foreclosed a house, I've heard that they generally counteroffer several times before accepting, but usually take an offer well below the asking price because they want to get rid of it.

Is this rumor true?

2007-11-05 07:50:34 · 5 answers · asked by kiki 6

My daughter lives in New Zealand and I would like to sign over my house to her.

2007-11-05 07:49:41 · 11 answers · asked by Brian P 1

I have an investment property in the U.S.A. that will need to be refinanced in two years. I currently have an ARM, but will not be able to get the rent to cover the new payments. If I foreclose on this property, will it affect my credit here in Canada? I want to buy more homes in Canada in the near future.

2007-11-05 07:47:09 · 3 answers · asked by tlldob 4

Has anyone ever used a rental agency to find an apartment? Are they worth it, or do they basically get the same results you would online? Mostly I just want to know about how much they charge.

2007-11-05 07:35:25 · 5 answers · asked by Lis 3

The buyer's market will end?

2007-11-05 07:20:41 · 3 answers · asked by kiki 6

Duz n e one know a website I can go to try and find a private landlords? I looking 2 move and my credit is not the best. I also have an eviction from da beggining of da year. And I know a private lanlord will work wit me better than a rental community. Probably Thanx

2007-11-05 07:05:34 · 3 answers · asked by imthabomb98 3

I know banks can foreclose on the house and sell it, but can they legally garnish my wages, take my savings, etc. or are they only limited to taking away the house? Will I still be liable for the remaining balance on the mortgage? I'm not talking bankruptcy. Does the bank taking my house clear my debt with them since they will pocket the proceeds from the sale? Isn't that a risk banks assume when lending?

2007-11-05 06:44:20 · 7 answers · asked by Anonymous

And, of course, I'm overthinking things now LOL.

The house was a foreclosure and the bank siezed it. I'm offering about 60k less than what they want (it's definitely a fixer upper inside, and that's saying it kindly). It was over 400K, but its been lowered twice already to 355K. It's been on the market for over 30 days now, and I don't think there are any other offers.

The bank obviously wants to minimize their loss, but want to get rid of it soon.

So here's my question....

Do you have any predictions about the market? Do you think it'll pick up in a couple months or stay a buyer's market? And I know you all aren't pyschic, but if you had to guess, would you think that the bank would accept the offer on account that they want to settle this ASAP?

Thoughts?

2007-11-05 06:40:52 · 7 answers · asked by kiki 6

Maybe thinking about renting or buying an apartment, just trying to see how much I would need to budget for phone, tv, utilities, and what else?

2007-11-05 06:27:26 · 18 answers · asked by Susan F 4

My fiance and i are able to afford our house but not with comfort. we are looking into foreclosing and found their might be an option of "deed in lieu of foreclosure" where the lender takes it back

2007-11-05 06:21:25 · 4 answers · asked by dealer 1

Consider this,...luxury autos costing $100,000. or more can be paid off in 5 to 7 years. Why can't I pay off a condo costing the same, in the same amount of time?

2007-11-05 06:05:46 · 6 answers · asked by Anonymous

I'm looking into an owner-financed property. I noticed that the tax value is below the owner's asking price. I thought I was told before that for properties priced above tax value, lenders refuse to finance them later when you're ready to obtain a traditional mortgage. And that this is how a lot of these owner financed deals are doomed. But the seller says that tax value is just a value given by the county, and is often below actual purchase price, especially if the property has been very well maintained like this one has.

Am I misunderstanding the relation of tax value to sales price? I don't want to think badly of the seller or anything like that, in case that she's right and I'm wrong, you know?

BTW, the tax value is around $74,000 but asking price is $89,000. It's a very well maintained home, but I'm just not sure if something fishy is going on!

2007-11-05 05:59:53 · 4 answers · asked by merebear83 2

I'm trying to get a sense of what I can offer sellers. We're new buyers, so we can close quickly, but we are tightly limited to $120k, anything over starts eating our closing/downpayment fund. There are a number of homes we'd like to put in an offer on, that run 125,000 to 140000. Any suggestions? Is it unrealistic to talk to a $140k seller with our limit? Or is it worth pushing our luck? We're in eastern North Carolina.

2007-11-05 05:47:48 · 6 answers · asked by Anonymous

My grandmother passed away 2 years ago and had virtually nothing. The lawyers are attempting to come after my family to pay off the rest of her mortgage. Are they responsible for this? They also don't have any money...

2007-11-05 05:17:07 · 8 answers · asked by lish4angel 2

Both my husband and my income is less than our debts, this doesn't even include food and gas! All of this due to our cluelessness when we bought our home with no money down, 100% financed, 3/1 (interest only) ARM!!, that can not be refinanced because property values have gone down so much. Thanks in advance for the advice!

2007-11-05 05:04:13 · 10 answers · asked by enlforever91 1

i are renting a house from a private landlord been there 9 years only ever had 1 contract for six months cant find.he as given me 2 months to get out with 3 children what are my rights does anyone know.thanks

2007-11-05 05:03:52 · 9 answers · asked by zippy 5

need to sell my house. soonas possible want to leave area Im in.

2007-11-05 05:02:57 · 1 answers · asked by suittina 1

We paid ernest money on a home. We made a bid on the house and the sellers exceppted. After several months we were unable to sell our house. We signed sevral exstensions on the bid. We deciced last time not to exstend the bid any more. Are we entitled to a refund of the ernest money.

2007-11-05 05:01:57 · 3 answers · asked by Bigg Daddy 1

2007-11-05 04:22:27 · 4 answers · asked by renan h 2

if you go to this link and read about 2. Is Cancellation of Debt income always taxable section, it says if someone files bankruptcy 'or' become insolvent, they don't owe the debt by lenders.
Link:
http://www.irs.gov/newsroom/article/0,,id=174034,00.html

1 home is already foreclosed/auctioned out, and the other home is to be foreclosed very soon... i'm working with a bankruptcy lawyer (already paid him in full) to file it, too.

do you think i shouldn't have filed bk since i'm insolvent (unable to pay 1099 if charged by irs)?

2007-11-05 04:16:19 · 3 answers · asked by h 2

2007-11-05 04:14:51 · 6 answers · asked by bunnymuny 1

our payment was 1,424.84. Saturday we recieved a letter from Amtrust Bank, annual escrow accouont disclosure statement, It says that this is not a bill but there is an escrow shortage and the new payment beginning on 12/01/07 will be 1,909.30--How can we have a shortage? Is our payment going up 500.00 a month, it says the shortage amount is 4,382.65. Can someone help me understand? Thanks

2007-11-05 03:49:42 · 8 answers · asked by Anonymous

2007-11-05 03:11:54 · 7 answers · asked by Sherry 1

I have heard conflicting opinions on this. I am looking at selling my house and when I begin to pull comps of the houses sold in the area, how are foreclosures going to affect that price? I heard from a realestate agent that foreclosures are not suppose to affect active listings, while my bank (when I was going to refinance) used foreclosure listings when they pulled comps, which doesn't seem exactly fair to me. Any info would be great. Thanks.

2007-11-05 02:54:34 · 6 answers · asked by j_mallock 1

I've accepted a job transfer from the Philadelphia area to Connecticut. I still have 6 months left on my lease on December 1, I'd be moving the last week of November. I've sent notice to my landlord, and they don't seem to be budging on letting me out early. Is there any law in PA that will allow me to cancel my lease early due to a job transfer?

2007-11-05 02:32:49 · 8 answers · asked by rockinkiwi 2

Okay my real question is about what do they always deduct you on no matter what? And what deductions is it possible to avoid by doing myself that will be worth it? I know every management is different and leaving the apartment clean looks good on me. I know they take out $ to clean the carpet. I also imagine they still take out $ to re-clean it. I ask bc my personal circumstances will make it difficult to DEEP clean the apartment. My husband will be too busy and I don't know anyone to help me. My natural instinct is to deep clean it but does anyone know if I can get away w/ general cleaning bc either way apartments take out $ to pay their own maintenance and cleaning lady? Other than that i have a bleach stain on the carpet 3 drips big and random holes from pictures I can cover myself. No chips, dents, writing on walls etc etc. I think its in great condition, everything was new when we moved in and we didn't stay too long to damage anything except for that bleach stain.

2007-11-05 02:16:14 · 3 answers · asked by pirouette_130 3

I found a coop that I am interested in purchasing. I intend on pulling up the carpet when I move in but one of my concerns is this... what if the wooden floors under the carpet are in terrible condition? My broker said it was impossible to lift a huge area of the rug b/c the people living there would need to move furniture etc. He seems to think it will be in mint condition. What if it is not after I purchase the place? What can I do to protect my investment?

2007-11-05 01:35:44 · 5 answers · asked by mirana 1

My wife and I want to retire to Tennessee. We know of Gatlinburg, Pigeon Fork, and one of my co-workers retired to Lexington (nevr been there myself). We would like in or near the mountains. BUT, cost of land is important to us. For example; where we live, 1/4 acre cost $60,000-$150,000.00; which we CANNOT afford. Any land UNDER $30,000 that we can build a retirement house (or manufactured home) on in Tennessee? NO communities with monthly maintenance fees!! no retirement communities. Thanks for the help.

2007-11-05 01:30:01 · 1 answers · asked by Anonymous

i can claim full interest & Principle in my Income tax pls tell me because i want to claim my it

2007-11-05 00:27:23 · 5 answers · asked by pramod a 1

I was served with an eviction notice, went to court, moved out before the allotted 5 days was up and now the landlord is garnishing my paycheck for the past due amount. This is taking 1/3 of my paycheck. Is is possible to have this amount reduced so that not such a huge chunk is taken out of each check each time, thus causing me to get behind again on all my bills?

2007-11-04 22:25:17 · 3 answers · asked by dkdnur 1