Renting & Real Estate - December 2007

My broker just locked the 5/1 ARM rate for me yesterday. And today the rate has gone down sharply. Am I stuck? Or I can cancel and re-lock a new rate? My closing date is set to be end of this month and I haven't signed any loan documents yet. Please help!

2007-12-11 11:50:05 · 2 answers · asked by hollycoq 1

I NEED ADVICE??... I want to get rid of my house but avoid a foreclosure... I owe close to its value in a 1st & 2nd....NO equity to sell. CAn I put my 2nd MTG into chp 7, and eliminate it? My MTG's total $2100 p/m, my take home income is $ 1800. I cannot afford them, nor do I want the house. But I want to buy another house within 5 yrs. Can I sell my house after the BK is discharged and JUST pay off the 1st lein, make no profit on the house, and be rid of it....??? If I were to TRY and make a profit I am told my 2nd MTG company can come after me for it...? How do they find out?

2007-12-11 11:37:55 · 5 answers · asked by kelly h 1

Here is the story, Lost my job, cannot afford my MTG. Can I file chp 7 BK and put my second MTG in it, eliminating it??? Then when the BK is discharged, SELL my house JUST enough to pay off the first?? To avoid foreclsoing on it, Id try and sell it. No profit, cause I understand my second is entitled to the profit...? right? How do they know anyways?... THANKS anyone who has advice

2007-12-11 11:33:06 · 2 answers · asked by kelly h 1

2007-12-11 11:09:33 · 5 answers · asked by ingodibel 1

I'm obliged to pay for the maintainance of the comunal areas in my lease but this increase is unfair and i cant afford to pay , but im worried i could be taken to court..please help!!

2007-12-11 10:21:08 · 3 answers · asked by rich 2

5 months ago we bought our fist home. At the open house I asked the realtor why there was patch work in the kichen celing. He said for electrical work. Turns out it was a leaky pipe. The plumber today says that leak has been going on for years. There is lots of water damage to the sheet rock and insulation. The realtor was also the contractor in this home. He Knew! And to top it off there isn't any electical over that old patch work just a bad water pipe. I want to report him to TREC but the damage is hundreds of dollars if not more. No to metion the mold i can see and my kids with pnemonea this week.

2007-12-11 10:18:39 · 9 answers · asked by Stacey G 2

im looking to buy a condo in brooklyn new york. the asking price is $394k and i found out this property was purchased for $325k back in 2003. so the owner is assuming about a little bit more than 5%.

any1 here knows about the real estate value in nyc? has property value gone up 5% each year since 2003? and what is would the property value be in 2008?

thx in advance.

2007-12-11 09:21:55 · 8 answers · asked by seafood10 3

Aren't the financial institutions hurt when the people default on their loans? They now have a home and no money coming in. Why are these companies not working with these people and trying to keep them in their homes?

2007-12-11 09:17:02 · 11 answers · asked by Anonymous

I sold my home and 3 months after closing Escrow Company claims they made a mistake and did not hold out enough money to pay off a HOA assessment. Is that legal? I am unable to determine if I still owe the assessment since the accounting is difficult to understand since there were several assessments being paid on a monthly basis. HOA's demand at closing did not did not include the assessment in question. Now months later, escrow is saying that I owe it???

2007-12-11 09:12:17 · 4 answers · asked by bernadette 3

Current rate is 4.25% How much lower will it go?

2007-12-11 09:07:28 · 6 answers · asked by The CozFather 1

2007-12-11 08:53:12 · 5 answers · asked by beverly k 1

Hello,
I own small office property. I have a new tenant who for accounting purposes ask if it is ok for him to provide me 2 checks per month -- he will still pay on the 25th every month -- but 2 checks instead of one. Me being a skeptic -- it immediately raisied flags. But -- in speaking to his old landlord they vouched that the payments have never been late.

Is this common? Thoughts?

2007-12-11 08:47:22 · 13 answers · asked by pneiko 1

I'm looking for mortgage rates online and want to build modular next year, now just looking for the best deal and wondering when today's Fed actions will be reflected in the offers I find.

2007-12-11 08:43:12 · 5 answers · asked by joe71284 2

if the owner of a house paid for with a va loan gets discharged because he stops going to drill can he loose the loan? he is in the reserves and has missed several months.

2007-12-11 08:09:27 · 3 answers · asked by TRUmom 3

2007-12-11 07:19:43 · 7 answers · asked by Anonymous

Last Friday I signed a lease with an apartment that I didn't want....I did it because I was in an abusive relationship and I had to get out immediately.

Now that I'm there I can't bear the fact of being there for a year. It's tiny, it's expensive, and I hate the neighborhood. I acted too fast, and I already signed the lease and put down $3000 for my security deposit.

Please someone tell me what my options are to get out of there.

2007-12-11 07:10:58 · 7 answers · asked by Diablita 1

I have a simple question. How old does one have to be to be able to buy a house? Is there a certain age? Mostly this question is about age. If anybody can help I would be so thankful.

2007-12-11 05:42:52 · 12 answers · asked by Anonymous

A friend of mine, a property manager, she manages apartments complexes she got assulted by a previous resident who was a problem and was evicted and she was beaten with a hammer and is not able to work at present she has nightmares and difficulty thinking straight and is under a psychotheropy care and had to have several stitches on head and cannot work now she is being layed off ...can she sue the owners of complex ???

2007-12-11 05:34:16 · 8 answers · asked by sunshine 4

Man, 69yrs old getting divorced, need to use a reverse mortgage to purchase, i need it explained to me, how it works.

2007-12-11 05:24:23 · 5 answers · asked by Laura J 1

you get the cash out in your hand??? Thanks!!

2007-12-11 05:19:56 · 2 answers · asked by idgaf 5

The mortgage company placed me on a special forbearance repayment plpan back in April. I complied with the repayment plan and at the end they offered me a loan modification, They instructed me not to make any payments during this time of litigation of my loan. It has been almostg four months and I just received a letter today offering me another forebearnce for the next four months. Is there anything that I can do?? I am now financially able to make payments on time and I just want to becaome current with my loan???

2007-12-11 05:09:35 · 3 answers · asked by Single Mom in New Jersey 1

Is a FROG considered heated square footage if it has heat and air installed, basic flooring and walls, but is not completely finished i.e. no top flooring or carpet and no paint on the walls?

2007-12-11 05:01:41 · 3 answers · asked by muffingirl 1

2007-12-11 04:49:05 · 15 answers · asked by Anonymous

Typically what percentage or amount of the lease to own option is used as building down payment monies. Any resources for what to include in one of these lease to own agreements ?

2007-12-11 04:39:23 · 12 answers · asked by adamwitzhoops 4

after almost two years, our land lord has decided that he wants to remodel the house we live in and offered to move us in to a one bedroom trailer almost fifteen miles from both mine and my boyfriends work. right now we live in an upstairs apartment which has plenty of space for us all, as we have four cats. so, about a month ago he informed us that we were going to have to move but he NEVER gave us a formal date as to when we had to be gone. on december 3rd he told us that he would like us to be out by the 10th. i told him that wasnt near enough time and that we have been looking since we first spoke about the situation, but nothing was available as of yet. He then informed me that he was going to hire a lawyer to" get us out". we don't have a lease agreement, so what rights do we have? can he really kick us out like this ? i have looked on the internet but can't find any info on this particular problem-so any help would be much appreciated.

2007-12-11 04:23:59 · 5 answers · asked by denetta d 2

i live in nj.recently i sent a letter to my apt. complex management office stating that im moving out of the apt.because of my sons allergic reaction to the carpet.the doctor order us to either move to a non carpeted apt. or take out the carpet.so i sent a letter to the office with the doctors letter that we wanna move out instead.but they denied us.they said we have to pay for the remaining months if we break the lease.how can i break the lease?

2007-12-11 03:56:05 · 6 answers · asked by nora g 1

If you have a written contract for a property/ real estate and the buyer(supposed buyer) breaks it by not paying, can I enforce that contract? And get the property back since he didnt pay for it? The written contract was done in the County Office in front of a notary and lawyer(buyer's lawyer). Also i have found out that if a party(buyer) fails, without legal excuse to perfrom any part of a contract that it is called a breach of contract and can be voided is that true? the suppose buyer and his lawyer was the one who wrote up the contract and they are the ones who broke it. Can i reclaim back the property/real estate that he buyer well supppose buyer didnt pay for? He has the deed and wont return it, what can i do? That wont be right for someone to keep something that didnt pay for. Also I live in the state of NY what is the statue of limitations for this? I looked on this website and it said 6years is that true? Help Please.

2007-12-11 03:41:27 · 10 answers · asked by Anonymous

My husband and I are currently house hunting for our first home. A few of the houses we are looking at are out of our price range, and we are thinking of trying to talk the sellers price down. Our realtor told us that if the house has been on the market for awhile, and the sellers are really wanting to get rid of the house that they will more than likley come down on the price just to get out of the house by the end of the year. My question is what is a reasonable amount to offer? For example on a $125,000 house, what would be the lowest offer we could make?

2007-12-11 03:37:14 · 9 answers · asked by ~*Yesterdays Promises*~ 4

We fell behind back in September we have been paying a repayment plan and have two mo. left in this plan. anyways the due date each mo is the 21st we won't be able to the pay till the 28th.They said this was fine but I am worried Can they will they forclose for being half a mo. late

2007-12-11 03:12:15 · 6 answers · asked by what did you say 4

I own a condo in a large complex-36 buildings, 12 units in each-and the condo association sent us a notice 2 weeks ago that they are collecting roughly $1000 from each unit to repair a hillside behind one building. The estimate is $400,000 to repair it. However, we were not notified of the meeting to decide to accept this repair bid, and we are not being given 12 months to prepare for such a large cost. If we do not pay this by February, the property management group will be putting a lean on each unpaid unit with 8% interest. What are my options in disputing this? The managment group is dancing around the issue and the condo association manager is also not returning calls. Any help would be appreciated.

2007-12-11 03:11:47 · 2 answers · asked by Jodie B 2