Renting & Real Estate - November 2007

I have an FHA loan that I have had for 5 years now. My understanding when I took out the loan was that 5 years must elapse before the PMI can be dropped. The appraised value of my home is apx. $230k. I owe $155k on the loan and $35k on a Home Equity loan. Do I qualify to drop the PMI?

2007-11-28 14:11:00 · 5 answers · asked by SVDBYGRC 2

How unethical would it be if I changed agents to write an offer on a home? My agent misled me in believing that she was a seasoned professional, but I have discovered she has only been licensed for 4 months! I am wanting to buy a bank-owned property and am finding that my bidding and financing situation is in need of someone with more experience. She did not find the home, I did, but she did let me in to view it. I have been working with her for 2 months and have developed quite a friendship. I just don't know if I want her handling my real estate needs. How do I handle this sticky situation? I have nothing in writing with her.

2007-11-28 13:30:26 · 8 answers · asked by Fern 1

I live in WA state and I signed a two year rental lease. I know in the state of WA any lease that is longer then a year has to be notarized. My lease is not notarized and I want to get it out of it after a year. Is this something I'm going to have to get an attorney for as I can't believe my landlord would be willing to give me back my deposit and my last month's rent.

2007-11-28 13:25:32 · 2 answers · asked by Anonymous

Hypothetically, lets say a buyer's offer on a house is accepted. He has 30 days until closing. According to the contract he must come up with the money at closing. During the process the buyer cannot find any funding and it looks as if the deal will fall through. Another offer is made on the home. The sellers want to accept the new higher offer, but need a release signed by the buyer. The buyer refuses. My question is, after midnight on the closing date, do the sellers need a signed release to accept the new contract? Is the former contract voided by the old buyer's failure to find financing? Can they legally accept the new offer after informing the first party their contract has expired? My wife and I are the 2nd buyers, but we're being told the seller can't accept our offer until they get a signed release. The deadbeat buyer can refuse for months and hold up everything with that logic! Is that excuse legit.

By the way we are located in Florida.

2007-11-28 13:01:45 · 3 answers · asked by the_lateman 2

I have a multiple unit apartment building currently with no laundry facilities on the premises. It's tough to find good tenants without having some kind of laundry on-site. I'm not sure how those coin-op services work. Do they charge you to install the machines and keep all the profits or do we lease the machines? I'm hoping another landlord can shed some light on this. If you have a recommendation, I'd like to hear it.

2007-11-28 12:56:03 · 4 answers · asked by RedHeeler 2

2007-11-28 11:45:01 · 3 answers · asked by newsome0225 1

This question is regarding my parents. Four years ago they couldnt find their second house for what they could afford about $139K, the lowest they could find was $220K and my husband had to put under his named to get it. Obviously that was not what we all wanted but it happened and soon we had problems. Dad wanted to get that house under his name so after 2 yrs it happened and obviously by so called buying it from him. My husband recommended that he sell the house within the nexy 2 yrs bcuz of the high payments. My dad thought differently he had no plans in doing so. Here we are 2 yrs later, my parents monthly net gross is about $3400. And my dad's loan is now 247K (he consolidated his car loan) and his payments have been $2K and he recently got a notice that the interest rate change and new payments will be of $2700. Its just my parents and two dependents at the house. My dad still does not want to sell. And the house market in chicago right now is horrible.

2007-11-28 10:42:44 · 5 answers · asked by melissa 2

Even though I bought my primary residence in CA back in 2003, the price it will sell for has fallen dramatically. I have not added any debt to the original loan amount. If I sell the house (if that's even possible) at the market price that is lower than the loan amount, what happens to the $50K difference? Does the original lender force me into a personal loan with a huge interest rate? Do I have to declare bankruptcy? Are there any other options? I already tried short sale and my lender won't consider it because I have not missed any payments. I cannot afford to continue making payments in the future however so I really need to get rid of this house. Thanks for the help.

2007-11-28 10:10:57 · 12 answers · asked by Anonymous

2007-11-28 10:01:48 · 4 answers · asked by Anonymous

2007-11-28 09:49:09 · 12 answers · asked by Anonymous

were go a go to for help i am paying two mortgages they left me outside the new house for ten days and the buyer for the old house walked away becasue i never knew when i could do the deal no fsa has a clue please tell me how i go about this

2007-11-28 09:42:39 · 6 answers · asked by roy c 1

I don't know much about the subject and I would like to learn about it and write an article about it. Any good website you know about?

2007-11-28 09:38:47 · 2 answers · asked by J 3

It is now wednesday afternoon. Should I call them and see what is going on, or wait for them to call me? It is for sale by owner, not a realtor.

2007-11-28 09:30:22 · 12 answers · asked by kann 1

My relationship of 7 years just ended, and unfortunately, we had purchased a home together on 9/2003. Upon my leaving, we had agreed to have the home appraised(which we did, paid 50/50) so that if she chose to make any further improvements in the home, she would not owe me equity beyond the date I occupied the home, and contributed to the expenses. Our verbal agreement was that she pay the house payment, and I paid any additional costs, including groceries, which added up to more than the cost of the house pmt per month. Am I 'screwed because I didn't save every grocery and personal need receipt for the past for years? Another important thing to mention is my name is on the home, but not on the loan. She is on both. Her lawyer has encouraged her to send me a monthly bill for half of the house payment on an ongoing basis. Any suggestions from anyone that may have had a similar encounter. She owes me $13,500-half the equity, so it is not a small amount!

2007-11-28 09:24:56 · 6 answers · asked by Sue O 1

2007-11-28 09:22:13 · 1 answers · asked by sanam_897 1

i was promised a 2 bedroom in my building by my lanlord.know he is telling me that he is going to give it to a family member (new tenent).i have been living in the same building for 6 years i want to know if i have any legal preference over the new tenant.i do not owe any rent

2007-11-28 09:03:09 · 4 answers · asked by eg b 1

really nice location (upstate NY) 1 bdrm (2 closets) huge living room with fire place medium sized kitchen old appliances updated dishwasher balcony (no dinning room) average sized bathroom. coin operated laundry in basement nice area....im new to the whole moving out thing so any advice please!

2007-11-28 08:49:42 · 3 answers · asked by Ashley 3

my apartment manager just called me and said corporate just called her and said they havent received my rent for october. so they expect me to pay again but thats bullsh.t heres the messed up part i always pay by moneyorders and just so happens i cant find my receipt stub to prove it. what can i do? can they legally try to do that to me?

2007-11-28 08:44:41 · 20 answers · asked by brina277 3

my friend lives in a devlopment, pretty new, only like 10-20 yrs old. it has 110-120 homes. but this is the thing. it has a brick wall around the whole community, which i guess isnt technically a development. they also have a pit to gather water and a bunch of flags in a line when u enter, and a black and gold sign saying the name at the entrance. now if i wanted to buy a home just like that but in another part of the state would they tell me (online) if they had a brick wall around it? how many homes? b/c i really like this community he lives in but is too much. any ideas? answer my questions too. do all these communties need to have a wall around them? it isnt gated (thats senior communites) and doesnt have a Gate around it.

2007-11-28 08:33:38 · 3 answers · asked by Anonymous

Me and my husband and kids live in a apartment and he is the only one on the lease right now. The apartments said I have to be added to the lease. My problem is I have HORRIBLE credit and I am stressing thinking they will deny me and kick us out even though we have been there for 2 years.

2007-11-28 08:27:53 · 7 answers · asked by Pamela C 1

i have a friend whose been trying to rent an apartment but has been unsuccessful because of a past eviction. it has been three years since and although it has been paid she's still having issues and no one wants to rent to her. are there any programs or companies in San Diego, California that work with people to help them rent?

2007-11-28 08:13:13 · 5 answers · asked by Anonymous

Can you tell me how I go about assuming the lease? The manager of the mobile home park is unfortunately out of the office until friday and I need to do this today!! Would a letter stating that I have purchased the mobile home and agree to assume the current lease drafted by myself or the current owner and signed by the two of us be sufficient ?

2007-11-28 08:06:15 · 2 answers · asked by MerryJayne 2

2007-11-28 07:52:16 · 17 answers · asked by sirencat 1

We are specifically looking to go from a fixed 6.5 % to a fixed 5.9% or lower.

2007-11-28 07:37:18 · 5 answers · asked by Geoman 1

My mom is in debt and we are trying to help her out. She owes more than her house is worth. If she sold her house for it's current value she would still be $43K in debt. Her monthly income is $1000 less than she makes per month. Should we have her file bankruptsy or foreclose on her house? What is a short sale? We will probably have to buy a less expensive house and have her pay rent but how do we get rid of the house she currently has? HELP!

2007-11-28 07:31:35 · 5 answers · asked by Serendipity 1

We are looking at a house and it is $100,000 we are wondering how much our payments will be at 6% interest for 30 yrs?

2007-11-28 07:21:46 · 5 answers · asked by Brandy S 2

My broker told me today that Lenders no longer allow owners to carry back a 2nd to help people into a home. Is that true? I'm looking for a lender that allows this type of owner financing.

2007-11-28 06:54:48 · 5 answers · asked by Ted (Canton,OH) 2

We are trying to buy our first home, and now before we even know if we will get financed, they want us to BUY home owner's insurance? How? Why? Wouldn't that be done once we buy the house? Especially if it's escrowed in to our monthly payments?

2007-11-28 06:54:45 · 5 answers · asked by Red Velvet 2

Suppose you have steller credit and want to re-negotiate your mortgage rate like you can essentialy do with a credit card, do you think big Mortgage lenders (Countrywide) will listen without having to do pay refinance fees.

2007-11-28 06:43:03 · 5 answers · asked by bgpnst2 1

My girlfriend has 2 days left on her lease and moving this Friday. She has 2 cats that she did not tell the complex about. Today they came in assess the apartment and discovered the cats (and the damage to the carpet the cats have done).

2 questions:
1. Can the apartment management confiscate the animals?

2. Can this discovery cause any change to the ending of the lease (not including charging for additional damages beyond the basic security deposit)?

2007-11-28 06:38:08 · 8 answers · asked by Dave M 2