Is it better to seek out car loan from bank on own; or wait until im at the dealership and let them find one?
I’m guessing I need to have been working for quite a while to get a mortgage? I’ve just finished 6th form and I’ve never worked before so I have like no work history so far but I’m just after a rough idea how long I need to have been working before I won’t get laughed out of a bank! And will this time be reduced if I get my dad to be guarantor?
It will happen very soon.
Property prices do go up and they do go down. You need to distinguish between money prices and real prices (real prices are net of the general level of inflation)
Every ten years of so the market corrects by 30% less inflation. In the 1970s and early eighties the general level of inflation being 20-30% masked the house price correction. However in the correction of the early 1990s inflation was at 8% hence a reduction in price of 30-8 approx 22%
This time the general inflation is at 2% so expect 30-2 a 28% correction to the market. Also the time the recovery takes is also determined by the inflation rate. The 1990 recovery took 22/8 about 3 years expect the next correction to take 28/2 about 14 years.
Historically houses rally in price at about 2.5 times average earnings and the rally ends at 5 times average earning currently we are at 7 to 8 times average earnings, as the market has been distorted by buy to let buyers.
The problems with buy to let is that investor never make money on rental. Some may cover mortgage payments but once viods, maintenance, management, and major refurbishments every 7 years are taken into account all rentals lose money in cash terms.
The only money made on buy to let is on the capital appreciation of the property. Hence when crash starts happening expect a lot of people losing a lot of money on buy to let and getting out of the market further depressing property prices
In addition we have a major liquidity issue with the stock market. The charts now resemble 1972 (This was a 40% downturn 1966-69 followed by a 40% recovery 1969-72 followed by a major sell off of up to 90% of the market).
ie Bull markets are generally followed by bear markets of the same length. The last bull market 1974-2000 lasted 26 years. We have now been in a bear market of 6 years ie if you had put 1,000 in the FTSE 100 in 2000 it would be worth 900 now. Expect a major correction soon.
All togther we are facing a perfect storm protect your money and buy gold
What all do I need, what model? What accessories? I really know zip about these games.
I have a client that needs to make his late mortgage payment; up to date before we can process his loan and close it. He only needs $3000. What options do we have?
If you are getting into an ARM, or ajustable rate mortgage, make sure you know the margins. The rate will change, and you won’t know it till you get the bill. Make sure you can afford the loan, even if the rates go as high as the margin will allow. If you can’t make the highest payments, you are setting yourself up to lose your house. Talk it over with your loan officer if you’re not sure. That’s what he’s charging you a point and half for!
Any records?
Any additional payment other than the monthly payment itself?
What do you guys usually do step by step before buying a townhome?
Is it very similar to buying a home?
My husband and I purchased a house in May. WE ammended our 2008 taxes for the $8000.00. We received a letter from the IRS yesterday stating that if we had not received our payment yet that we would get it within 2 weeks. I just wanted to know if anyone else has gotten this letter and how long after it was that they got the money.
I am looking to buy a digital camera for the first time. I am only an occasional photographer so i don’t need anything fancy. I am looking for a decent camera for under $300CAD but I don’t even know what sort of questions to ask at the store. Can you either recommend a camera or give me some guidelines in what I should be looking for. I don’t want to be fleeced by some salesman who sees an easy mark. Thanks
I had a recently purchased property under agreement with an FHA buyer. I have owned the property for 6 weeks and was 5 days from closing when her mortgage company said they can’t close because I have not owned the property for 90 days. My problem is we have been under agreement for 6 weeks with a closing date and this comes up. Is this a new rule or an oversight on the mortgage company. The property is in Mass.
I am closing on a house in the next week in Illinois. I am planning on spliting up my mortgage payment into a bi-monthly payment. Any ideas as to how long after closing before I have to make my first payment?
As everyone has heard, the once booming housing market has declined some these days, and I’ve been waiting for it to continue to drop until it gets to a relative low point. I just saw this article (http://biz.yahoo.com/rb/061009/markets_h… where Greenspan suggests that the worst is over, so I’m thinking I better start looking seriously now before it goes back up. I want to get into the housing market soon and stop wasting money on rent. What do you think?
