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I Live In The Bay Area, California. I Am A First-time Home Buyer. I Have Excellent Credit..?

13 Jan 2010 by .

(750+). My monthly income is 3000. I am interested in buying a condo (7 years old) which is priced at 399,900 and I am planning to put 5% down. I have met with two lenders..Lender A suggested 2 loans (to avoid paying the PMI) and Lender B suggested 1 loan. I would like to keep my mortgage payments as low as possible, and plan to live there for about 5-7 years. Any suggestions would be appreciated!

Category: first time buyer  Tags: , , , , , , , ,  4 Comments

Do You Have Income With A Reverse Mortgage Loan?

13 Jan 2010 by .

I’m having trouble finding the law that states the answers for these. I’m only looking for the law that will answer my questions.
When I take my monthly draw from the bank from my reverse mortgage loan is that considered income? Also can I deduct the interest when it is added to the outstanding loan balance each month.

Category: mortgage  Tags: , , , , ,  3 Comments

What To Do When You Lose Your Mortgage Papers?

13 Jan 2010 by .

Apparently, my mortgage papers desapear and I need it to suit the company. Where I can fing it?

Category: mortgage  Tags: , , , , ,  4 Comments

What Is The Profile Of The Average Person Who Defaulted On His Subprime Mortgage?

12 Jan 2010 by .

It seems that the subprime mortgage debacle has turned out to be very serious, so much so, that it has world-wide implications. Even here in China, the Chinese are worried about it. Does it make sense to analyze this problem, to see what caused it so that it doesn’t happen again? Why don’t we start by looking at the actual person who defaults on his loan. What kind of person is he? What demographic does he fit? What is his profile?

Category: mortgage  Tags: , , , , , ,  2 Comments

How Do I Report Gains From The Sale Of An Investment Property I Rehabbed And Flipped?

12 Jan 2010 by .

I bought a fixer-upper. I never lived in it or rented it. I made many improvements and repairs to the property. I also incurred expenses when I sold the property about 8 months later. Where do I report the expenses and gains from the sale on my income taxes?

Category: property  Tags: , , , , , , ,  2 Comments

Aren’t Falling House Prices Great For Recent College & High School Grads? Should We Thank Bush?

12 Jan 2010 by .

How would you like to be getting out of college and see the price of houses so high that you expect to never be able to afford one?
Aren’t kids who are about ready to graduate happy because they are see that houses are likely to be more affordable after they save up money for a few years?
Or would Dems rather that these kids suffer and never be able to afford a house?
My kid is just getting out of college, and he’s happy that housing prices are becoming more affordable. Smart kid. Right?

Category: house prices  Tags: , , , , , , , , ,  10 Comments

I Will Be A First Time Ipod Buyer And Thinking About The Apple Ipod Classic 120 Gb; Is This A Good Choice?

12 Jan 2010 by .

I’m reading that the screen is plastic and easily scratches. I read other reviews stating that the sound isn’t that great…but I have nothing to compare to. I’d sure like your opinion, recommendations, suggestions, etc. Thanks! Ferg

Category: first time buyer  Tags: , , , , , , , ,  5 Comments

I’m A First Time Buyer And Want To Buy A House Abroad.?

12 Jan 2010 by .

I’m a first time buyer AND i want to buy abroad, not in the UK. This makes things ten times more complicated! I have no idea where to start…. Are there any companies that help people buy property abroad? I really don’t know where to start. Do i need a solicitor in this country or in the country i’m buying a house in? So confused!!!

Category: first time buyer  Tags: , , , , ,  14 Comments

Would It Hurt My Chances At A Mortgage If I Took A Different Job With The Same Company?

12 Jan 2010 by .

I work for T-Mobile in sales but am about to take a financial care position with the same company. I am going to school right now for family financial planning so it relates more to my major. I will be getting a raise. Will it mess up my shot at a mortgage?

Category: mortgage  Tags: , , , , , , , ,  2 Comments

Is It Possible To Combine My Personal Loan With A Mortgage?

12 Jan 2010 by .

I have a personal loan with the bank for £15,000. I want to get a property, but I know I won’t be able to get a mortgage and pay the loan at the same time. I therefore wondered if it would be possible to incorporatre the loan into the mortage, so I basically add £15000 onto the mortgage. What do you think?

Category: mortgage  Tags: , , , , ,  9 Comments

How Do I Remove My Father’s Mortgage From My Credit Report?

12 Jan 2010 by .

I want to buy my own house now but my credit shows I have a mortgage and a lender says the only way to get it removed is for my dad to refinance the house. I know that’s one way to do it.
I also know if there’s another way to do it they won’t tell me coz they want my dad to have their loan, what other ways I can do that?
Is writting a letter to the bureaus get it removed?

Category: mortgage  Tags: , , , , ,  6 Comments

What Is The Best Refinance Plan To Reduce My Monthly Mortgage Payments?

12 Jan 2010 by .

I’m looking for the best plan as in:
- Not getting my face ripped off in closing cost
- Not increasing my current interest rate of 5.8 to something over 8%
- Not having to pay thousands in points
It seems I’m having the same dilemna as when I bought my house and rates were supposedly “low” 4 years ago. I know I can’t win, but I simply can’t afford my current mortgage payment of $1500+ a month on a house I mortgage $185K for.

Category: mortgage  Tags: , , , , , , ,  6 Comments

Will House Prices Continue Going Down?

12 Jan 2010 by .

Specifically, I’m in the New Jersey area (central to be exact). Will house prices continue falling?
We’ve been selling our house for a few months now.. NO LUCK. We lowered it considerably so far, still no luck. some people have come close, but no one closed the deal. one person said next year “for tax purposes” but thats too late for us. so now we’re thinking about renting it out till next summer.
so my question is.. if we rent it out till next summer.. will the value go up or down… generally speaking, what is expected to be the trend? i heard the bubble already burst?

Category: house prices  Tags: , , , , ,  4 Comments

First Time Home Buyer Information?

12 Jan 2010 by .

My fiancee and I are looking into buying our first home. I have no knowledge on where to start, what to look for, or how to go about it. I’ve been told there are loans you can get as a first time home buyer that doesn’t require any money down. I make 25,000/year (+overtime) and my fiance makes 20,000/year. Anyone have any ideas on how big of a loan we could get. Any tips and advice is appreciated. Thank you.

Category: first time buyer  Tags: , , , ,  12 Comments

What Would You Do With A Historic Slave Cabin On Your Property?

12 Jan 2010 by .

Don’t laugh, I’m serious! My brother and his wife purchased a historic home in Virginia recently, and there are several outbuildings on the property. One of them is a slave cabin. My brother doesn’t know what to do with it. He says he doesn’t know if he wants to look out the window at it every day, because it’s a pretty sad thing to see and think about. But he also says he hates to tear it down, since it’s a historically significant building in good shape that belongs with the property.
What would YOU do? Tear it down or keep it?

Category: property  Tags: , , , , , , ,  14 Comments
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