Help defining lodger / deposits failure to pay rent?

Hi,

My friend is having problems with somebody who is renting a room from them, they own the house (paying mortgage) but do not live in the property, however there was never a written agreement or any sort of agreement signed. So first off, are they a lodger or a tenant?

Second in the verbal agreement (which I was witness too) it was agreed they would give a months notice before leaving, however 8 days before the end of the month they said they are leaving at the end of the month and won't be paying the next months rent despite a verbal agreement saying so. They are also trying to claim back their deposit and to know where it has been stored.

So to summarise, what are my friends / the person renting the rooms right? Do they have any right to the deposit (which was £100 less than a full months rent), and do they have to pay a months rent as they didn't give a months notice as was agreed. And finally can my friend simply keep the deposit to pay off some of the rent or would that still require going to court? She would rather avoid the stress as she is suffering from post traumatic stress disorder and is already incredibly stressed out with multiple other things.

Thanks in advance.

Read more: Help defining lodger / deposits failure to pay rent?

Can i get a 2nd mortgage forgiven charge off from short sale off my credit report?

Had to do a short sale due to job relocation to another area. Had a buyer and was in the process of the short sale when the 2nd mortgage HELOC hit 180 days late. The 2nd mortgage bank refused a settlement and charged it off. All liens were released and the first mortgage was paid in full. Can i repair the "charge off" on my credit report?

Read more: Can i get a 2nd mortgage forgiven charge off from short sale off my credit report?

Are lenders required to provide regular statements for commercial mortgages?

I know that they are required by law to provide statements for regular home loans but not sure if this applies to commercial loans as well.

Read more: Are lenders required to provide regular statements for commercial mortgages?

What is the difference between shared ownership and shared equity?

Can anyone just list the pros and cons of shared ownership and shared equity and also the difference between the two?

Is either one worth going for when first time buying? I got enough to get a mortgage - the regular way but wondering if it would be better to do shared?

Help!

Read more: What is the difference between shared ownership and shared equity?

Do I have a chance of getting a car loan?

Now I know no one can give me a guaranteed answer, but from your experience, do you think I would have a chance of getting approved for a car loan.

I want the 2015 Nissan Versa($14,670) or the 2014 Nissan Versa.

-My credit score is 711.
I work at Macy's part time
May 2013 to Present
$7.93/hr + Commission

-I just got hired at Walmart Supercenter 2 weeks ago(I know, not enough stability here) as an Overnight stocker.
$11/hr

-I pay no rent/mortgage, but I have a $9,000 student loan that I pay on. $109 a month

-I have $2,000 saved. I only want to put $1,000 down, but I'll put down the $2,000 if I have to.

Read more: Do I have a chance of getting a car loan?

What happens if a cop pulls into my driveway when smoking weed on the balcony?

Hello all, I'm 18, live in Illinois (DuPage) and I was smoking weed with a friend of mine outside my balcony on the second floor. We live in a condo and basically our parking lot is "T" shaped (pull into and out of driveway or turn left or right for more parking spots). I have a tree in front of my balcony so the only way the cop would see me if he was on the upper left side of the "T." The moment I saw him me and him locked eyes (he was about 40 feet away I would assume) and I bolted inside with everything. I did the usual cover up the smell and etc in the house and on myself (drops,etc.) The cop car didn't leave for another hour but nothing happened.

My question is, since it's my property but I am outdoors on my balcony, am I breaking any laws or causing any trouble?

Note: I do have a mortgage on the home if that matters.
Note: I don't have anything on my record besides two traffic tickets and I will be attending college in the fall if that matters(parents home but both we're at work).

Read more: What happens if a cop pulls into my driveway when smoking weed on the balcony?

Finance / Mortgage for Italian Property?

My family and I have recently been very lucky to inherit a property in Italy (Comelico Superiore, Belluno). We have already gone through the process of paying the taxes and signing at the notary, so the house is now officially ours.

The problem we have is that the house is in a poor condition, with extensive renovation required throughout. We have been advised that the house is un-mortgageable - something to do with the deeds, as the house was in our family for so long (built in 1901 by our great great grandfather), deeds were not drawn up until 2006 when our auntie passed away.

We are now seeking finance to restore the property, which will then be used as a holiday home, and also to generate an income through holiday rentals throughout the year.

Please could anybody offer any advice as to financing this, whether it be a mortgage, business loan, or personal loan. We would prefer to borrow in Italy, however, would also look at UK banks as this may be an easier option. We are looking to borrow around £50k which will be around 35% loan to value with the property's current condition.

Any advice would be greatly appreciated.

Grazie Mille! :-)

Read more: Finance / Mortgage for Italian Property?

Should I convert my mortgage to conventional from FHA to drop PMI?

Should I convert my mortgage to conventional from FHA to drop PMI?
Added (1). Original loan balance 140400
current balance 92000
interest rate 3.0%
15 year FHA
PMI of $67/month which I cant cancel until I have 5 years good payment history
Loan closed 8/4/12
I currently pay $1000 extra on principal each month and plan to pay off by 2019

Read more: Should I convert my mortgage to conventional from FHA to drop PMI?

How do schools check residency?

I recently moved in with a family friends house. My mom signed a temporary guardianship form for me to stay there. Will they allow me to stay if we show them the form and proof that I live there?

Read more: How do schools check residency?

Mortgage for first time home buyer?

Is there any way in BC you can get a mortgage without a down payment?! I am tired of paying rent and I want to own but I don't have the money for a down payment. I have tried looking on RBC but it doesn't really make sense to me.

Read more: Mortgage for first time home buyer?

How long after an approval does it normaly take for a home equity loan?

I started applying for a home equity in late January. All Docs in Feb 27… On March 27 I received an approval. Then they did title search and appraisal and asked for more docs. Title and appraisal came back fine in April. Then they asked for more docs. This is taking so long… Its just a home equity with 10 yr draw. I am now behind on the things I was going to take care of (remodel, grandkids tuition, etc). I thought I applied in plenty of time. Now tomorrow is the deadline for everything. I am so stressed, it is making me sick. What do I do? Is this normal? I am 87 and my home is free and clear.
Why is it taking so long? It is about to cause major havoc in our family.

Read more: How long after an approval does it normaly take for a home equity loan?

When you lease a car is it reported to credit bureaus?

I'm wondering if the lease of a car will change my credit score up or down. Also, will it be taken into account when I apply for a mortgage loan a month or more later on in the year? The mortgage is more important, but I need a car now. What to do?

Read more: When you lease a car is it reported to credit bureaus?

Is it legal to pay someone back for a gift they gave us for our mortgage?

We want to pay the gifter back for the money they gave us for the down payment. Is it legal for us to do this?

Read more: Is it legal to pay someone back for a gift they gave us for our mortgage?

If you have a lien on your house can you get a home improvement loan on the property?

The property is financed through a private party, not a bank or mortgage co. Can you get a home equity loan to fix it up? Or a home improvement loan? Even though there is a lien on

Read more: If you have a lien on your house can you get a home improvement loan on the property?

Auto loan with bad credit help?

Here's the scenario: 3 years ago, my sister needed a car but did not have good enough credit to get a loan on her own. The dealership ran my credit as a cosigner and as the only buyer and since it was a much better interest rate if I bought the car by myself, that's what I (reluctantly) agreed to. After awhile of working on her credit, she was going to get the loan in her own name and I would be done. Well, we are still having trouble getting a loan in her name and I need it out of mine, as soon as possible!

We have tried BofA, Wells Fargo, Capital One, Roadloans.com, Fifth Third, etc. I don't know what else to do because I am trying to apply for a mortgage and her car loan is preventing that! Does anyone have any suggestions of places that may be able to give her a loan with bad credit in the NC/SC area?

Read more: Auto loan with bad credit help?

Will I ever be able to afford a flat?

I'm 25 and on £28,000 a year. I'm single, living at home with my parents and desperate to get on the property ladder. My savings are currently just under £10,000 and i'm looking to save for the next 6 months because my parents want to move away abroad and sell our house.

They have said that they cannot help me financially with buying a property as they plan to retire and live on the money from the house.

Wil I ever be able to buy somewhere by myself? What are my options? I don't want to rent because this I fell like that is just paying someone else's mortgage. Help!

Read more: Will I ever be able to afford a flat?

How far back will a mortgage lender look at your bank statements?

My husband and I are saving up for a down payment on a house. I've heard that mortgage lenders will look at your statement history to make sure you're a good candidate for a loan. My issue is that we just got married in May and received a lot of monetary gifts - and some are still trickling in. A friend of mine said that she needed to justify any large deposits when applying for a loan, and if it was a gift, she needed to get a letter from the person who had given her the money. I don't want to deal with that, so I just want to know if there's a general rule as to how far back they go (3 months? 6 months? 1 year?) so I can make sure we're in the clear of our wonky bank statements these past few months. Thank you!

Read more: How far back will a mortgage lender look at your bank statements?

Information for first time home buyer in california?

I'm 20 years old i am saving money for a down payment on a home. My plan is to do this with two years time: buy a home valued at 250k-300k and put it up for rent as soon as i can so the home can pay itself without me putting my income into the propert and within time i can sell to make a profit. I know a down payment for a home here has to be about 20% which is a lot of money.
but ive done my research and found that first time home buyers can pay as little as 5% down payment for a new home?

*5% of 250k = $12,500
*5% of 300k = $15,000
*my income is 30k a year at current job.
*in the process of being hired by Socal Edison
and i will be making starting 67k a year without overtime.
*my credit is average(630-650) do to having a credit for such a short period of time.
and yes i do have someone that will co-sign for me.

My main questions are should i do it? Or can i do it? Without putting myself at risk for debt or in a financial struggle? Is it even possible for me to obtain a loan? What advice does anyone have that'll help me?
Added (1). thank you all for answering! Learned something new.

Say i buy a home with the intent to rent it in the future. So i would actually live on the property to avoid the outrageous 25%-45% downpayment. How long before i can rent it out?

Read more: Information for first time home buyer in california?

Why do you have to be 18/21 to own property in the USA?

In my country you can own your own home at 16. You can own land, sign contracts, start a business, get a loan and take out a mortgage all at 16.

Why won't Americans allow a 16-year old to be a employer?

Why won't Americans allow a 16-year old to own a home?

Why do Americans think it is wrong for a 58-year old man to marry a 16-year old boy? Why would American parents object? In my country NO parental consent is needed.

Read more: Why do you have to be 18/21 to own property in the USA?

What is the minimum mortgage down payment in California?

What is the minimum mortgage down payment in California?

Read more: What is the minimum mortgage down payment in California?

Can you pay for a mortgage monthly?

I am looking to buy a house but first you need to pay a mortgage of 10% of the full price but I haven't got enough for it yet but I will be able to pay for it monthly before I move in but will they allow that or will I have to save up to the full amount if the 10% of the price?

Read more: Can you pay for a mortgage monthly?

Vacant ground floor retail unit plus a separately accessed vacant first floor flat. Mortgage type?

Is it possible to take out a buy to let mortgage or would it have to be a commercial mortgage?

Read more: Vacant ground floor retail unit plus a separately accessed vacant first floor flat. Mortgage type?

How to calculate the effective annual interest rate?

Robert is selling his home to his home to his good friend, Lisa. Robert is selling his waterfront multi-storey home for $2,950,000, and he will take back a mortgage for $1,350,000 at a contract rate of j2= 5.5%, with a 25-year amortization period, a 4 year term, and monthly payments up to the next higher $10.

a) The required monthly payment for this loan is?
$8,250

b) how much will Lisa owe Robert at the end of the 4 year term?
$1,235,956.02

c) lisa is considering another possible mortgage arranged through a mortgage broker. It will also have a face value of $1,350,000 with a contract rate of j2=5.5%, 25 year amortization period, 4 year term, and monthly payments rounded up to the next higher $10. However, the mortgage broker will take a brokerage fee of 3.5% of the loan's face valuewhich will be deducted from the face value of the loan. What effective annual interest rate will Lisa be paying on the funds advanced?

d) Assume that Lisa makes monthly payments of $8000 and has an outstanding balance after 4 years of $1249327.47. If the market rate for a similar mortgages is j2=7.75%, and lisa has made a down payment of $1,600,000, what is the market value of the offer?

Please help on C and D.

Thank you

Read more: How to calculate the effective annual interest rate?

Online mortgage broker vs direct lender aka bank?

what are the pros and cons between these 2? I see the rate from online mortgage broker is lower than the bank. For example, one mortgage broker told me he is able to get me 5.875

Read more: Online mortgage broker vs direct lender aka bank?

How to save up money efficiently and effectively for A $200000 mortgage payment?

i need to pay off my house soon and i need a way of saving up big money over a cousre of 1-3 years.

Read more: How to save up money efficiently and effectively for A $200000 mortgage payment?

Can you apply for a home buyer grant if? Read below.thank you in advance?!

If someone in your family owns a home & pays mortgage. Then decided they dont want it anymore. You want it but there is mortgage to pay.is it possible to still apply for a first home buyer grant? I want to learn how all of this works.

Read more: Can you apply for a home buyer grant if? Read below.thank you in advance?!

Can you sue a mortgage company for harassment if they keep contacting you 2 years after bankruptcy discharge?

My family had to go bankrupt a couple of years ago, because of a tragedy that struck our family. Now 2 years after the discharge the mortgage company is still sending me things to pay the bill and I still receive the tax bills for the property. I am now trying to get my life back and may get turned down for a loan because they have not done anything with the property and they still have me listed as the title owner. What can I do about this?

Read more: Can you sue a mortgage company for harassment if they keep contacting you 2 years after bankruptcy discharge?

Could i get a low income loan to build a house the same as i could for a mortgage?

I want to own a home but i want to get my own built i designed blue prints for a really small two bedroom one. If i would buy a house id have to get a low income mortgage. Witch is a loan right? Instead of paying $400 a month i would pay $150. Can i do the same with a loan to build a house? Like i get a loan for $30.000 and can i get a low income loan so i only pay back like 150 to 200 dollars a month for it? I understand id be paying for it the rest of my life but that's no problem for me.
Added (1). if here is no such thing as a low income. Can i get a construction loan and pay little back every month like i would with a low income mortgage?

Read more: Could i get a low income loan to build a house the same as i could for a mortgage?

Is it a smart idea to simplify my resume?

I worked in the mortgage/banking industry for close to 6 years. I returned to school last year and I'm looking to land a part-time job to earn some extra cash. Should I simplify my resume from all the technical terms I currently have on it? I have applied for data entry, call center, even retail jobs, and haven't gotten a return phone call. Is this a smart approach? I have included information on the cover letter as well and mentioning my customer service, MS Office, and related experience. And even the fact that I don't mind making minimum wage. Any advice would be appreciated.

Read more: Is it a smart idea to simplify my resume?

Has anyone ever used a hard money loan for a mortgage?

My fiance and I are looking for a first home. My fiance is self employed and we are waiting on her to get her work history up so we can get our home. We know we can afford a home right now and are exploring all of our options. We currently rent and want to get something for ourselves.

I was looking into stated income loans which I found out are non existent now and came across hard money loans. Has anyone ever used one of these loans to use towards a home of there own. If so does anyone know of any legitimate hard money lenders in the state of GA?

I know the thing to do now is rent until we can get approved properly by a lender, but I just want to know of any other types of loans out there and if anyone has gone through a hard money lender. Also if you have any information on any other type of loan that would be great.

Read more: Has anyone ever used a hard money loan for a mortgage?

How much will you need to finance from the bank for the 30 year fixed mortgage with the 20% down payment?

I have to do this worksheet but I don't really understand loans, mortgages etc. Can someone tell me if it's right or not? & help with 2b & 2d, thank you!

Read more: How much will you need to finance from the bank for the 30 year fixed mortgage with the 20% down payment?

Owning two or more properties?

1) does a mortgage loan at your job help one to do that
2) careers in the business industry or being a change management specialist do they have mortgage loan for employees
3) what is a easier way easier than mortgage loan to go about to own another property say the second he is either a apartment or condo

4) what city is the cheapest for owning a second home which can be either a condo or apartment
Tampa fl, jersey city New Jersey, phoenix az, San Diego ca, Lowell ma, or conneticut

Read more: Owning two or more properties?

How old were you when you bought your first house and had a mortgage?

How old were you when you bought your first house and had a mortgage?

Read more: How old were you when you bought your first house and had a mortgage?

Can I start a business in same industry as my employer working full time?

I'd like to start up a company - and am able to do so but the problem is I can't quit my job until the business is sustainable. The business I'm starting however is the same business type as the company I currently work for - with a twist that should generate some market share.

I definitely can start and run the business and work full time (I know what you're thinking, but I can and will), I have the business plan, business model, good feedback, good name, drive and focus to get it done, however I don't want my employer to find out because I would probably get fired (I'd basically become their competitor) and a start-up company can't pay the mortgage or car payment.

What should I do?

Read more: Can I start a business in same industry as my employer working full time?

Can someone make a living off of independently going door to door and refining mortgages?

Can someone make a living off of independently going door to door and refining mortgages?

Read more: Can someone make a living off of independently going door to door and refining mortgages?

Could these people face foreclosure?

I just sold my house to a young couple who is engaged to be married in June of 2015. Until then, they will be shacking up together out of wedlock. But at the closing table, I saw that the mortgage was taken out in both people's names. What would happen if they were to have a fight then break the engagement prior to the wedding? Would they face foreclosure? Would either the guy or the girl get to stay in the house, or would they both have to sell it? Who would get the proceeds from the sale (if any)?

Read more: Could these people face foreclosure?

Advice on signing off mortgage please?

Me and my ex partner (LB dad) split badly 2 years ago. Was thrown out on the street with a 2 year old an a few black bags. Struggled to get sorted for my little one. In the meantime my ex was pestering me to sign off our joint mortgage. I was in a really low place, on antidepressants and tried to kill myself. He put me down so low, said things, mentally bullied me. I had no support. An he made me feel so worthless, that I hated leaving the house and was really depressed.
A mortgage advisor seen to us, I wanted to go for part of the house as I paid towards it for 5 an a half years. I was pressured into signing it over for nothing by both my ex and the mortgage advisor.
I left t everything there all furniture because my ex wouldn't allow me to take anything.
I was in such a low place that my ex even convinced me to sign £8,000 of his debt onto my name.
After a hard 2 years, I'm finally back on my feet, in a much better place. But still got just under £6,000 of his debt in my name an no money to pay it off as I'm a single mother working part time.
If I went to c a solicitor do you think I'd have a case of having mortgage signing as void! Cos 8 was not in the right mental state to make such a huge decision an lost everything.
I just want his debt gone an some of what I'm owed.
Any advice appreciated:)

Read more: Advice on signing off mortgage please?

First time mortgage flat, can I charge flat mates?

If I were to purchase a 3 bedroom flat to live in myself with a standard first time buyer mortgage in Scotland, could I legally rent out the other two rooms whilst I live there?

Read more: First time mortgage flat, can I charge flat mates?

How to sell my house if my husband refuses to move out?

Currently, I am on the deed as the sole single owner of the house and the mortgage is also under only my name. My husband and I purchased this house together during our marriage but now he is willingly unemployed and cashing in on disability for a minor injury he received before he was laid off. I do not receive any money from him to help pay the mortgage. However, he does pay the bill for water and internet. It should be noted that he promises to make the divorce nasty and contested if he is faced with it.

How can I sell the house if he refuses to move out? Does the fact that he pays some minor bills affect this? What are my options?

Thanks in advance for all your help!

Read more: How to sell my house if my husband refuses to move out?

Can I deduct rent and mortgage on tax return?

I recently relocated to California from Indiana. I owned a home in Indiana and unfortunately still do. Unfortunately it's just sitting there waiting to sale. In the mean time I've been renting an apartment in California. Can I receive a tax credit for both of these?

Read more: Can I deduct rent and mortgage on tax return?

Switching mortgage payment method?

Hi there. I have a mortgage with C&G which is currently at 100k and two years ago I had missed some payments due to financial diffculties. I'm still in arrears but they are being paid off. The only problem is that the monthly repayments are now over £850 which is a lot.

I should say that over the last year, I've paid the mortgage monthly without a problem but I'm starting to find it difficult again to pay my mortgage as I am barely trying afford normal household costs.

I wanted to know if there was anything I could do to reduce the mortgage payments for time being. I've had this mortgage for around 14 years and have remortgaged once. My home is worth around £180,000. And I've got another 11 years left on it.

I'm going to speak to C&G to discuss my options but I wanted some opinions on what I could do to reduce the payments. I should say by the time i have finished the mortgage I will be 57.

I have heard that if you're having payment difficulties, you can switch your mortgage to interest only for a short period. What exactly are the requirements of this?

If I can pay interest only for 6 months or so and then switch back this will save me a lot of headache and I could become more stable. My kids will start to contribute £100 per week in around 6 months or so, and I was wondering if my bank would let me switch to interest only payments for a short period of time.

Would appreciate your thoughts

Thanks

Read more: Switching mortgage payment method?

In the UK a Buy to let mortgage is cheaper than a normal one?

so what is to stop a person taking out the buy to let mortgage and live in the house himself?

Read more: In the UK a Buy to let mortgage is cheaper than a normal one?

My second mortgage Was charge off?

But not my first mortgage the bank wants to modify it, how long does charge off takes to get off ur credit? If its not payed For, 7years does it still comes off ur credit

Read more: My second mortgage Was charge off?

What happens if I don't get a prenup (UK)?

My fiance and I live in my house (mortgage almost paid off) that I have saved for and pay the mortgage on completely independently. I am in a very lucky position as I am only 23 however managed to get a decent, well-paying career job after leaving university that means I can afford to have some nice amenities in my life (nothing too spectacular - I'm not wealthy - but still, comfortable). Everything in our lives has come from my pocket. She is between jobs (i.e. Unemployed) at the moment, though she is hoping to get part time work as a secretary.

Now, I have no doubts whatsoever about getting married to her as I can't see myself with anyone else, however it's unwise to be unprepared for the future as we can't predict what might happen in 1 or even 10 years down the road. What if the worst happens and we divorce? She most certainly isn't a selfish or hateful person, so I highly doubt she would try to drain my pockets, but then again you can't predict the future, and losing half (is it half? I'm not clued up) of my assets that I will have worked so hard for would be devastating. Is this what I could potentially face if we were to divorce?

Read more: What happens if I don't get a prenup (UK)?

Who gets what home in a divorce if both parties had a house before they married and kept them both?

my mom married some at jerk-off about 10 yrs ago and they both owned a home. Well, his home was a double-wide trailer on some +10 acres her's is an actual suburban house. Ok now he let his daughter move into the trailer and they got a large 2 story apartment together. Now here lately he has been talking to his ex wife after his other daughter died in a car accident and anyways she thinks he is seeing her in his spare time. He recently changed the locks and informed her he is going to file for divorce because my mom will not sign over the trailer to his living daughter. I didn't understand why she wouldn't sign over the trailer in the first place, but now im pretty sure that this has been coming for awhile regardless. I assume he is just trying to cover his *** seeing as how the said "jerk-off" has already stole 7k in property for me a few years back left to me by my dad. So my question is what will likely happen to both houses in this situation? My only concern is the house my mom owns. So if that is the focal point of your answer thats fine.

Read more: Who gets what home in a divorce if both parties had a house before they married and kept them both?

What are some stable high paying jobs for anti socials?

Looking into a good career that I can work on.
$40K~$50K or better stable jobs that I don't have to deal with too much with people?

I'm kinda thinking about going to night school to get a CPA, but searching for other possibilities before I make the decision.

My skills
*Bachelor's degree (Economics)
*Trilingual (Chinese Japanese English)
*Good art skill

Conditions
*No traveling (have mortgage and dog)

Read more: What are some stable high paying jobs for anti socials?

How to get a price? Are they keeping something from me?

Found a house with a for sale sign and immediately fell in love. Called the number on the sign and we were told that since it was a repossessed home they were still waiting for the bank to give them an asking price. That was over a month ago. Since the they asked us for a mortgage pre qualification letter in order to show us the house. We provided it, and we got to view the house. This house isnt listed in any MLS website, not even on the agents website. Its almost like it doesnt exist… Except, that a friend of ours HAD seen it listed over a year ago, had printed it out… And it HAD an asking price. I am confused. Are they trying NOT to sell me this house? Should I be worried about something? I don't want to risk losing the property, but I am getting frustrated because I want to buy it already
Added (1). The house is not going up for auction, i already asked. My question is basically how they can claim the price hasnt been set yet when it clearly had (they have no idea my friend gave me that print out with the price)

Read more: How to get a price? Are they keeping something from me?

Is it a big deal to a lender if I made a $500 transaction at a car dealership?

I know there's a rule when it comes to getting a mortgage that one should not make any large purchases or finance anything before closing.
My husband and I are about to close on our house on Aug 6. We have been trying to be super duper careful not to allow anyone to run our credit or to finance anything. However, we do need a new car once we move to the new house. So we got a really good deal on leasing a Smart car which is the only thing we can afford right now and we wanted to make sure the deal would be waiting for us Aug 7 when we close. Today we went and just confirmed the deal with the dealership and they asked us to give a $500 deposit just to hold the car until then. We told them we couldn't give our SSNs or have them pull credit yet because of the mortgage. However when we left the dealership I started having serious doubts about this transaction. My husband used his debit card and on his bank account it says Mercedes Benz dealership.
So my question is: do lenders ask for bank statements/activity up until the date of closing? And if they do would a $500 debit transaction at Mercedes Benz dealership raise any red flags to the lender at the last minute? Are they going to ask for documentation as to what this transaction was about or make a big fuss because we have now planted a seed that we might buy a car?
Please be nice, I know I may have done something stupid ;o( I just want to be able to fix it in time!

Read more: Is it a big deal to a lender if I made a $500 transaction at a car dealership?

First time home buyer/seller?

I feel like a dummy for asking this but…

Let's say a person bought a house in 2000. They bought it for 100,000, and for the past 14 years they have been paying a mortgage, let's say they still owe 50,000 on the mortgage and they decide to sell the house.
Let's say they sell the house for 200,000.

Here is my question, when the sale is final, does the seller receive 200,000 dollars, and still have the 50,000 dollar mortgage? If so, is the seller still required to make payments over the next 16 years?

Is this how it works, or does the bank take the remainder of the mortgage and give the seller the remainder? Thus 150,000?

I am not sure how these transactions work.

Read more: First time home buyer/seller?

Effect on Transaction Cash Flow - Accounting homework help?

How do I do these types of problems.
Effect of Transactions on Cash Flows

State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:

Sold equipment with a book value of $78,000 for $94,000. My answer = 94,000 correct
Sold a new issue of $250,000 of bonds at 102. My answer = 25500000 wrong
Retired $400,000 of bonds, on which there was $4,000 of unamortized discount, for $475,000.=75,000 wrong
Purchased 3,000 shares of $30 par common stock as treasury stock at $40 per share. My answer 900,000 wrong
Sold 4,000 shares of $25 par common stock for $50 per share?
Paid dividends of $1.50 per share. There were 40,000 shares issued and 5,000 shares of treasury stock?
Purchased land for $287,000 cash. 287,000 correct
Purchased a building by paying $60,000 cash and issuing a $50,000 mortgage note payable. = 50,000 wrong.
Please help with correct steps.
thanks in advance.

Read more: Effect on Transaction Cash Flow - Accounting homework help?

Second Property FHA 203K or VA? Verify Residency?

Background:
My parent are have found a second home in SC (we resided in NC right now) that they plan to use as a full time home in the future. At this point they have 2 years left on their current mortgage but they can afford a second home financially each month. The home they found is a great short sale deal at under 100K with only maybe 20K in renovations (new flooring, popcorn ceiling, paint etc). My father is a disabled veteran who actually works for the VA administration on the health care side of things so there may at some point be an opportunity for him to transfer down to SC and my mother plans on retiring in NC (teacher) and then start teaching in SC to add additional income. This would all happen within the next year but they do not want to loose out on the great deal on the home. Until the retirement/transfer of both my parents would happen we would spend every weekend down in the condo, all vacation weeks and the summer. So we would almost be living in each dwelling half of the year. We do not plan on renting either property out, seeing as we afford both, but this is what I am seeing in all of the previous questions. I actually have 2 questions:
1: Which loan would you suggest for doing this? My father does not want to put a big down payment down because he wants as much flexibility in the renovations budget as possible
2: How would they verify residency if we reside in each dwelling part time? Remember we have the intent on moving in full time.
Added (1). According to (http://www.nolo.com/legal-encyclopedia/what-the-difference-between-investment-property-second-home.html) there is a distinct difference between a second home and an investment home

Read more: Second Property FHA 203K or VA? Verify Residency?

With mortgage of 48,000 for 15 years with a rate of 11%, what are the total finance charges?

With mortgage of 48,000 for 15 years with a rate of 11%, what are the total finance charges?

Read more: With mortgage of 48,000 for 15 years with a rate of 11%, what are the total finance charges?

Why do I see My ex-husband on my credit report?

I had to answer some questions and it said I opened a mortgage on a certain month than it gave my old last name but I changed it back to my madden name. I am now remarried. Can someone explain what that was? Did he open a mortgage? Why is it in my credit report? These are just questions that we asked but when I got my credit report it just showed credit cards I opened. I am just confused.

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Why does the US Army Commission alot of 2nd LTs every Year?

Why does the US Army Commission alot of 2nd LTs every Year?

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Should we pay extra on a car or the house? Or should we save for more of a down payment on a new house?

We have a mortgage now, but are looking to purchase a bigger home. We want to have 20% down to avoid PMI. The only debt we have is our 2 cars and the mortgage. We are able to save roughly $800 a month. And currently have $5,000 saved now. We would like to have close to $20,000 and make about $10,000 to have a total of $30,000 for the new house. But we also would like to pay down our cars quicker. Our car payments total around $725 a month and have 4 years left on one and 5 years left on the other. My question is this. Do we continue to save for the down payment on a new house? Do we make extra payments on the cars? Or do we make extra payments on our current mortgage?

Read more: Should we pay extra on a car or the house? Or should we save for more of a down payment on a new house?

My accountant screwed up on my taxes, what do I do?

I started a daycare and the accountant I had seen previously told me what I need to write down for what I could all claim back at the end of the year. I made a spreadsheet which was very detailed. It had every expense totalled and the groceries were specifically separated to make sure I was getting back what I spent on daycare groceries.
At the end of the year I ended up owing aprx $3000. Now from groceries spent that year should already make up for what I owe. That does not include my cell phone bill (which my accountant said was a 100% right off), a portion of the mortgage, property taxes, heating, water, vehicle and house maintainer fees, fuel and mileage costs for outings, tv and Internet and other supplies for daycare like cleaning supplies (also 100% right off), toys, mosquito repellant, sunscreen, cost for meals during outings. I started my daycare in May. I figured it out to be about $5000 I should get back.
It cost me $200 to get them done. I also have a graduate rentention program in place where I get $640 back every year. There's no way I would owe money from the daycare so I should have gotten a min of $640 back. I ended up get $430 back. Technically I owed money!
I called n left messages. Receptionists keep telling me she's busy or they leave a massage for her which she doesn return. I want my money back for her screwing up on my taxes! Is there anything I can legally do?

Read more: My accountant screwed up on my taxes, what do I do?

Can your bank statements be verified by a mortgage broker or lender?

. It would help if someone in the field who has extensive knowledge answered. Thank you

Read more: Can your bank statements be verified by a mortgage broker or lender?

Revealing assets when trying to get a mortgage principal reduction?

I applied to the Florida Hardest Hit program for principal reduction, I am below the maximum income level to qualify but they are also asking about assets…

1. Would they probably want to see more assets or less?

2. If less, will they know if I fail to disclose a certain bank account?

Thanks!

Read more: Revealing assets when trying to get a mortgage principal reduction?

What can I do to get my child support lowered?

Right now my ex wife is getting $650 a month for our two kids. She has taken me to court to try and get it raised but was denied since my income is so low (I am self-employed so I determine my own salary). My business owns my house so I have no mortgage and she was unable to take it in the divorce. She is currently living in a 2 bedroom apartment. Since she won't give me the kids and her income is so low (she works full time but for minimum wage) she is basically living month to month.

Anyway, I want to take my girlfriend on a cruise down south since she is in college and her school year is almost over. Her and I have been together for 2 years so it is really important to me. I cannot classify it as a business trip since it is more leisure than business so the business cannot pay for it. I am wondering if there is a legal way I could get my child support lowered. Thanks for your help!

By the way, I know it sounds like I'm a bad parent but I gave my ex two options:
(1) She takes the kids and I see to it that she gets minimal support which I have done
(2) The kids come and live with me and they will have everything they need and then some
She made her choice so I'm not the one being selfish

Read more: What can I do to get my child support lowered?

How much money do apartment owners make?

Say without paying any mortgage. And about 30 units and the rent is 400 a week

Read more: How much money do apartment owners make?

How to remove MIL from house title?

There are 4 owners on the house: my husband, husband's brother, FIL, and MIL. MIL has not made any payments into the house and my husband has paid over 200k in mortgage payments and his brother has also paid almost as much towards the mortgage.

The problem is that my MIL is planning on leaving her share of the house to her daughter who had never made a single payment on the house.

Is there a way to remove my MIL's name of the title because it is not fair that now that the house is almost paid off via my husband's and his brother's life savings, that her daughter will take a portion of that.

My husband, his brother, and even their dad do not want MIL's daughter to inherit her share when my husband and his brother paid off the house with their own money.

Read more: How to remove MIL from house title?

Conveyancing - do I need to go to the solictor office for any reason?

I've been encouraged by colleagues to use a solicitor through our union for my conveyancing as I will get a cheaper deal. However I have found their office is over 4 hours from where I live. Are there reasons I would need to visit their office during the process?

Read more: Conveyancing - do I need to go to the solictor office for any reason?

How to become rich when I'm older?

I'm 15 years old, and was middle class, but now consider my family to be lower middle class. My Mom is putting me through a private school because my town High School is bad. The tuition is $12,000 and she is struggling to pay it, plus a mortgage of $5000 a month. I know this seems like nothing to most of you or your parents, and it was fine years ago. But my mother is retired and is not receiving a lot of money. My father is a dead beat who doesn't help and disappears for 20 out of 24 hours a day. And my mom has no idea what I will do for college. (And good Lord I do not want to have to resort to Student Loans) My brother got a D1 scholarship for football, but I don't play football, I play basketball. It is much harder to get a scholarship for basketball, incredibly harder. I don't doubt my skills but I go to school with a bunch of 6'5 kids and I'm only 6'0 as a sophomore:(. What can I do now to ensure my future will be debt free and not end up in a situation like my mother? How can I get scholarships? Please help.
Added (1). My house is pretty big as well (She bought before her financing troubles)

Read more: How to become rich when I'm older?

20 Day Summons on a Foreclosure in Florida?

If I was served on July 9th, 2014 at 9:07PM. When exactly is my last day to answer the complaint?

I have requested an extension of time due to, needing to hire an attorney, problem being… I can not retain a attorney to make a answer for me until July 30th, 2014 when I get paid (Monthly at the end of the month). Yes it's just a few days but, A 20 day summons is a serious thing that needs to be answered in that timely manner.

County Clerks office says that the Judge that handles these cases is in another county right now and will be back in my county the first of the week! (I suppose that means Monday the 28th?) So, as of now I have a:
1 request for a time extension faxed to the clerks office (they confirmed it was received)
2 Original request signed and mailed to the clerks office
3 Another copy that is also signed sent to the Judge via the clerks office.
4 A copy of the request was also mailed to the Plaintiffs attorneys.

OK, but a request can be denied, especially if its not given to the judge in the allotted time! So, the biggest question I need help with is… Should I take it upon myself to answer the summons without legal counsel so I can make sure that I abide by the 20 day time frame?

And now to top it off! My mortgage company now says it will and can work with me on a "Streamline loan Modification". I just don't want to make a bigger mess to the court.

Any CONSTRUCTIVE advice will be greatly appreciated.

Read more: 20 Day Summons on a Foreclosure in Florida?

My husband told me to become a phone sex operator?

I'm about to be a first time mum with a small, teeny tiny infant. My husband just signed up for a medium sized mortgage for our first home. Since I won't be working for about a year or so- my husband has told me I should work from home… As a phone sex operator! I'm not joking. For the extra income.

I wouldn't actually do it- because I'm shy (I don't judge anyone who does)- plus how am I supposed to look my baby in the eye after talking dirty to men over the phone all night long. I just can't. That's kay, he just suggested it, he isn't forcing the issue.

My question is, should I find this offensive- that my husband would allow me to do that? I mean, what's next- him allowing me to be a stay at home prostitute for other men. Is it on par with that? I can't help but feel a little offended, but is it unwarranted?

Read more: My husband told me to become a phone sex operator?

How to get an old bank statement with of old address from RBS any digital copy has my current address?

I have been trying to get the original copy of some statements from 2013 with my old address on it for mortgage lenders. I managed to get some from RBS not 3 weeks ago for certain dates but now they are saying they don't do that. When ever I try and get them via digital banking they have my most recent address on it even though I wasn't at that address at the time.

Read more: How to get an old bank statement with of old address from RBS any digital copy has my current address?

Will I be getting half the proceeds from our house selling?

I've already asked this but hopefully this time I'll get more than just wild guesses and bad assumptions.

I co-own a house with my mother, meaning we are both listed as the owners of the property.

My question is: am I legally entitled to half he proceeds? My mother has paid most of the mortgage herself. I did have to sign all the bank papers when she changed her mortgage.

Read more: Will I be getting half the proceeds from our house selling?

Can someone teach me about buying houses, what these words mean, and other stuff?

Im 17, when i get older i would like to buy a house. However, i don't understand anything, i see words like bank owned, short sales, foreclosure, redemption, trustee. I have no clue as to what any of this means, i feel like the safest way to buy a house is if its bank owned but bank owned house are usually most expensive, foreclosures seem pretty decent, i think that means that the previous owner couldn't afford it and stopped paying for it, also i don't understand what a mortgage is and stuff like that, could anyone please easily explain this to me. The whole process and what to look out for and what I'd have to do.

Read more: Can someone teach me about buying houses, what these words mean, and other stuff?

When you refinance your mortgage loan, the outstanding balance is?

a. The future value of all remaining future payments.

b. The future value of all past payments.

c. The present value of all remaining future payments.

d. The present value of all past payments.

I selected A. Is this answer correct?

Read more: When you refinance your mortgage loan, the outstanding balance is?

How much will I reduce my mortgage if I send extra money with first payment?

I have read that if you have a thirty year mortgage, that the time will be reduced to 23 years if you send an extra hundred dollars with the first payment. I am planning to get a fifteen year mortgage and send extra money with the first payment. How many years or (maybe months) will the fifteen years be shortened if I send an extra $!00?
Added (1). How about 50,000 at 2.75% interest.

Read more: How much will I reduce my mortgage if I send extra money with first payment?

Can I contribute to my rollover IRA?

I just got divorced and I know nothing about money. I will find a trustworthy financial advisor but in the meantime, I'm doing my own homework. I have a $190,000 rollover IRA (I live in Illinois). Can I contribute to it… Should I contribute to it? I'm 45 years old, making nearly $70,000. I have been a teacher for 7 years, so I'll have a pension. I have a $220,000 28 year balance on my mortgage. I have no idea if I'm in a comfortable position or if I'm going to the poor house when I retire in 20 years.

Read more: Can I contribute to my rollover IRA?

Moral issue. Should I support and suffer, or leave?

Point is, I have enough personal income to support myself and my studies but not enough to support my parents too.

I feel like it would be heartless of me to move out and cut them off of my income that they need to cover mortgage payments since their once successful business went bankrupt.

So I gain enough to pay for uni and my dorm, food etc. But once they take what is needed to cover a small percent of their mortgage, a large sum of my income is gone and I can't cover my uni/dorm/car payments.

So if I leave and cut them off they will not be to cover their mortgage. But if I stay they will continue to rule over every aspect of my life. 22 years old in my last year of uni, working part-time.

What would you suggest me to do?

Read more: Moral issue. Should I support and suffer, or leave?

How do foreclosed home auctions work?

I would love to be a landlord and I'm trying to find my way into the business

Read more: How do foreclosed home auctions work?

Need financial advice about investment property, equity, offset/redraw account?

Here's the story, I have a mortgage loan of about $210k, which I have been paying for the last 10 years. I pay about $1400 monthly mortgage, with 2% interest rate until 2052, when I will have completed my last payment. Only thing is I am almost 60 years old with no savings(kids in college)! My current home value is about 400k. I think this is a good time to invest in property, and I see this mother/daughter home I really like for a bit under 300k. This home could have a potential rental income of $3100 monthly (about 10% CAP rate).

Can I use my home's equity to pay the down payment/closing cost, maybe 75k?, on this investment property? Is this a good idea? Would it make sense to get a 15-yr fixed rate mortgage on this investment property? I really want to get rid of my bad loan, the mortgage on my current home, and I think this might be a good method. Also, should I put the rental income into a redraw account to use against my mortgage. I really want to own my home by the time I retire and not rely on social security alone.

Read more: Need financial advice about investment property, equity, offset/redraw account?

So if you have a Conventional 80/20 loan?

Does anyone know if you can just refinance the 80 on a FHA loan? I cant go conventional because of some credit issues. Thanks for your time.

Read more: So if you have a Conventional 80/20 loan?

Spending a lot of time with son in law?

since my daughter passed away 1 year ago, it's been just my son in law and myself-
He does everything for me around the house and pays half the mortgage.

He invited me to go on a cruise with him and I accepted--separate rooms of course, but when I saw him on the cruise I didn't think of him as my daughters husband, I thought of him as a man that I really like--so confused and feel guilty at times
what is best for me at this time?

Read more: Spending a lot of time with son in law?

Can I take out a reverse mortgage even if my wife refuses to cooperate? (we jointly own the house)?

Can I take out a reverse mortgage even if my wife refuses to cooperate? (we jointly own the house)?

Read more: Can I take out a reverse mortgage even if my wife refuses to cooperate? (we jointly own the house)?

If your mortgage payment would be less than $40 after down payment, would you qualify for a mortgage loan?

And if you're self employed… Not with three years of history…
Added (1). I meant monthly…

Read more: If your mortgage payment would be less than $40 after down payment, would you qualify for a mortgage loan?

At what point does individual success/wealth become excess while others suffer in poverty?

I have always had strong values where this is concerned. I feel it is what Jesus wants for the world, to be giving and not pass those by who are less fortunate or in trouble. I have had an excellent career since my early twenties and always lived minimally well within my means. I volunteer at charity events and have a lot of hands on with homeless people. I've drove an old Honda while everyone around me at my job lives in luxury driving sports cars and mortgaged to the hilt on houses beyond their means. I bought a new mercedes about two weeks ago and it has mostly stayed in the garage while I drive the old beater. I really love the car but I feel conflicted as if it's interfering with my humility and duty to my fellow people. Maybe I'm just so used to living frugal and this is not even a valid question. I know many times people make it hard on themselves and opt to do without or live in poverty but I also realize there are many who are forced into lives beyond their control.

Read more: At what point does individual success/wealth become excess while others suffer in poverty?

Bank cleared insurance check that was missing mortgage endorsement?

I deposited an insurance check into my account without the mortgagee endorsement. The check was cleared by the insurance company's bank. My bank realized their error and has placed a hold on my account for the next 3 months! Can they do this? Is there anything I can do?

Read more: Bank cleared insurance check that was missing mortgage endorsement?

What kind of house can I afford?

Every time I try to calculate it on the Internet it thinks I want to pay a mortgage. I want to buy it in one shot. I have $600,000 saved up in a safe deposit box. I haven't payed taxes on this money yet. What kind of house can I afford with this much money? I know I will have to pay taxes before I buy it. I live in Henderson NV. Also property taxes and whatever is also an issue, I want to be able to afford everything. What price on a house is good for me?

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How should I be investing my quarterly inheritance checks?

My grandfather died, leaving a sizable trust fund to be equally distributed among all grandchildren. None of us can touch any of the principal funds in the trust at this time, but will receive quarterly payments from the interest the trust generates. For me, this amounts to about $50k per year. At this point it appears that the fund will pay out for 20 years and then the trust will be dissolved, each party then receiving their share of the principal in a lump sum.

I am currently married, in my mid 30s and have two children in elementary school. We earn about 60k per year, do not invest anything at all aside from into our 401ks and have no unsecured debt. We do have a mortgage where ~100k is owed and an auto loan with roughly 6k remaining to pay off. The cost of living where I am located is about 10 pts. Below the national average.

We do not live luxuriously, not even mildly so, but we are reasonably comfortable. The point is, we can continue going on 60k per year and have the trust fund money all go toward investments. To be more realistic though, we will almost certainly be looking to use about 10-15 percent of it to make minor lifestyle upgrades, such as an annual vacation -- something we currently do not do.

So with about $40k per year to invest and given the above information, what would be the best course of action to take?

Just a side note: I am not interested in starting a business at the moment.

Read more: How should I be investing my quarterly inheritance checks?

Banks giving false infromation?

Basically I went to my bank to apply for a loan, everything was going fine and they told me that i would be able to get the loan. I was at the final step which was the banks solicitor sending a letter to confirm i could receive the loan, however the solicitor was not receiving a letter. After months of them re-sending letter they later found out that because my bank split into two different banks my mortgage was with the other bank. My bank then told me i would have to go through the whole process again because everything had been invalid due to the long period of time, they then told me i would be unable to receive the loan due to my age and the amount of money i earn however when i previously applied for the loan they said my age and wage was enough for me to receive the loan. Is there anything i can due to sue the bank for false information?

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How to get on the island as a second player on animal crossing new leaf?

Ok so my cousin wants to get on the tropical island on his profile because he wants to get tan. But Kapp'n is not there. How do I get Kapp'n back there?

Read more: How to get on the island as a second player on animal crossing new leaf?

Waht is the formula to calcualte a mortgage payment?

I'm trying to write a java program to calcualte a mortgage payment
I have found several formulas- to do it.
So far none get the job done.
One I have found has created a payment that was less than the monthly interest rate and quite a few have resulted in one that gave me the same results as the monthly interest rate.
Added (1). I don't use excel and I reported you for being spam
Learn to answer the question

Read more: Waht is the formula to calcualte a mortgage payment?

Lying on a mortgage application?

Im thinking about lying on my fisrt mortgage app. Like how long ive been at my job and how much im paying for rent. I think i could get away with it. What do you think?

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Force sale of a house UK? Is it possible?

Hi, is there any way i can force the sale of my house with my ex? We have no children, he lives there on his own, both our names are on the mortgage. He has now been refusing to take my name off for nearly 8 years, i am now at the point where i want to buy my own home and cant because my name is still on that mortgage. He says he cant remortgage because he hasnt got a job at the moment, which is not my problem, he has had 8 years to sort it and he hasnt, i now need to take action but really dont know where to start. I dont want anything from him for the years i lived there, i dont want paying off, just want my name off the mortgage, how can i do thi? Please help…

Read more: Force sale of a house UK? Is it possible?

How did the Tsar's mistakes lead to the Russian Revolution?

How did the Tsar's mistakes lead to the Russian Revolution?

Read more: How did the Tsar's mistakes lead to the Russian Revolution?

Can i short sell my home while have a 2nd mortgage?

My home has a mortgage and a line of credit. The home value is not enough to pay both the 1st and 2nd.
Can I short sell and who gets paid first, there will be a balance due, my question is, the line of credit has a balance due in the end but will a short sell satisfy all parties

Read more: Can i short sell my home while have a 2nd mortgage?

Is it hard to get a mortgage for $79K with bad credit?

Is it hard to get a mortgage for $79,000. My credit score is 536, Have $4,000 old collection. I make decent money.

Read more: Is it hard to get a mortgage for $79K with bad credit?

How will paying ahead affect the life of my mortgage loan?

The finance charge on my mortgage loan is 3.875%. The loan is scheduled to be paid off in 24.5 years

I currently owe $97,000. I went to an every other week payment schedule 6 months ago, and add $100 to each payment(towards the principal); that way 13 full payments are made each year

If in addition to those additional principal payments I've been making, how much time will I shave off the life of the loan if I make a one time $10,000 lump sum payment this month?

Read more: How will paying ahead affect the life of my mortgage loan?

Is having a fundraiser for ones self illegal, unethical, or do people actually do them for themselvese?

Just feeling quite desperate and have no options to financially get by, at least for now. I have diabetes and other issues and my mortgage is 2 months late. I have always been the one who takes care of everyone else, and never thought I would be in this situation.Currently I have no food, gas, cash, nothing and I am quite scared. I can't believe I'm even asking this question but is it illegal to ask for help in the way of a fundraiser or other such way. Like from the sites, kickstarter, etc?

Read more: Is having a fundraiser for ones self illegal, unethical, or do people actually do them for themselvese?

When should we buy our first home? Can we afford it?

We are a couple who live together, both 26 and have £30,000 saved between us for a deposit with about £4000 after that for fees. We are looking to buy in Worthing on the south coast. We currently live in Brighton but its too expensive to buy there. Our joint salary is £41,500. Is it realistic to buy a house worth £180000? We are hoping to get somewhere that needs updating on a nice street. Is this realistic? Will it take a long time? Will we be able to get a mortgage? Thanks

Read more: When should we buy our first home? Can we afford it?

Life Insurance For Couple Just Over 50?

My wife and I both have modest policies. Hers is through her employer and I have a whole life policy that I took out about 25 years ago. We're considering each purchasing an additional policy that would cover financial obligations should one of us pass, primarily, the goal would be to pay off the mortgage, as well as some other small debt. (roughly $150k-$200k)

We're both in great shape, non-smokers, no drugs, no risky hobbies. Is there a policy available that is a good match for our scenario and not crazy expensive? Thanks in advance.

Read more: Life Insurance For Couple Just Over 50?

What was the mortgage interest rate in 1992?

What was the average mortgage rate in 1992

Read more: What was the mortgage interest rate in 1992?

Is unpaid work experience a good idea?

I'm planning a career change into an industry I have never worked in before.

To make my CV more appealing I was considering doing some unpaid work experience on one of my days off.

This way I can:
a) gain practical experience
b) see if I really want to work in the industry

My question is, do people still allow unpaid work experience or will people think I'm a crazy man?

It's not like I'm a homeless vagabond. I have a decent job already but would like to experience other industries and roles before I settle down with marriage and a mortgage.

Is my idea of spending 5-10 hours gaining work experience per week feasible? Thanks in advance.

Read more: Is unpaid work experience a good idea?

Signs he is going to propose or signs he's freaking out about commitment?

My boyfriend has been acting odd (for lack of a better word) ever since we moved into together almost a year ago. I've aired my concerns with 2 close friends, my mum and my sister (all on separate occasions) and half said that he sounds like he's planning to propose and the other half said that he sounds like he's freaking out about this big commitment we have made in the form of a mortgage. To be honest, my thoughts were originally around the freaking out thing (and it got me kind of worried) but now I'm not too sure.

- A few months ago, a friend let slip (after a few drinks mind you) that my boyfriend told her at New Years that he was planning to propose this year (he also let this slip after a few drinks).

- A little before that, his sister randomly brought up marriage and what my feelings are on it. It did kind of feel like I was being interrogated for information.

- We do slow down whenever we walk past a jewellery store and check out the rings in the window; he knows the kind of ring I would like and he knows my ring size.

- He always jokes about us getting married when we're 40. It feels like a subtle hint that marriage is a long way off for us (we're 24 but have been together almost 8 years).

- He has some money set aside. I have no idea how much there is or where it is; it used to be at our house but he accidentally let slip the other day that he's moved it. This is something he has been doing since he was a little boy though.
Added (1). - He has been acting kind of needy ever since we moved in together. Like, he wants me to pay attention to him and do things with him.

- He has been a little more domestically inclined of late (doing the dishes, putting them away, vacuuming, etc). Although, this could be because he's sick of me complaining that he never does anything around the house.

- He has been concerned with saving money and how much we're spending. Although he looks after our accounts, so I never see statements.
Added (2). So, what do you think? Freaking out about commitment or signs that he's thinking about a proposal?

Read more: Signs he is going to propose or signs he's freaking out about commitment?

What is a realistic estimation for the time between making an offer on a home and closing?

My husband and I are interested in buying our first home. We have been pre approved for a mortgage that is $20,000 or more over the asking price for several homes. One home, we are absolutely in love with on paper. My husband will be flying from California back to New York to look at it in person the first week of August. Our lease is up the final week in August, which is when my husband deploys for a few months. Ideally, I'd be moving into our home as soon as possible, but have planned to stay with family starting the final week of August until we close on the property.

Assuming inspections go as planned, and we negotiate a reasonable offer with the buyers, how fast could we expect to close on a property? There is no issue with the mortgage and the move, as my husband is in the military and keeping the same employer (the Navy) despite the relocation (he has orders). We would be making the first offer the first week in August, if we like the property.

We are not using a VA loan, as we don't want to deal with the hassle and we have a downpayment. It's only about 8%, so we will need to have PMI, but with bonuses we intend on paying down that portion of the mortgage relatively fast. We also have a few different lenders in mind, but with our income and credit, we know that we can get the mortgage without an issue.

SO… Assuming we make an offer the first week of August, when would be a realistic closing date?

Read more: What is a realistic estimation for the time between making an offer on a home and closing?

My income change this month, I want to know if that would affect to get Qualify for the Mortgage?

MY income change totally this month due to the season in Arizona, the no one wants, to come visit for the weather. (I work in the Airport) . I was already PRE QUALIFY for a Mortgage, I already find a house my offer has been accepted and now I'm worried that I will not be qualify for getting the house that I like.
Can anyone tell me if that would affect me?

Read more: My income change this month, I want to know if that would affect to get Qualify for the Mortgage?

How to acquire a lot next to mine that is in a dead persons name with nobody claiming?

We bought a bank owned house on property that had been a reverse mortgage. The women who passed had a lot next to it that is not build-able. How can I get this in my name besides waiting for it to go forsale in a tax auction in 2 years

Read more: How to acquire a lot next to mine that is in a dead persons name with nobody claiming?

Will using a wonga payday loan affect a mobile phone contract?

I recently took out a small loan literally £50 for one week from 'wonga' because I was off sick from work for a few months and the company I worked for paid me half of my wages (company policy if more than 3 weeks off is taken) and I still had bills to pay. It was a struggle but I recently went back so to cover me I had no choice but to do this otherwise travelling to and from work would have been impossible. I really regret doing this as I'm worried it will affect my mobile phone contract upgrade next month. Right now that's my only worry as I'm secure in my home although could affect me later when and if I choose to move! I've read a lot about it affecting mortgages etc. Could it also affect my phone contract? I'm with O2 btw. If so I only took the loan out yesterday night so could I even cancel?

Read more: Will using a wonga payday loan affect a mobile phone contract?

Should I be put on wife's deed?

My wife had a condo before we married. I moved in after marriage and took over the mortgage and utilities. She wants to upgrade the condo and "wants my help" with the upgrades; however, she refuses to put me on the deed. It's not a deal breaker for me, just don't want to pay mortgage and upgrade condo then possibly get kicked out someday. I have no way of showing I'm paying, as I transfer money to her account and she pays the mortgage from that. All I do is make a "memo" at the time of transfer.

She never wants to sell the condo even if we move. She insists it's "our condo". I know I'd get half the equity should we divorce, but I wouldn't take it.

Do I have a right to feel unstable to pour money into her condo?

Read more: Should I be put on wife's deed?

Has anyone in Mt had mortgage issues with Mountain West Bank?

Has anyone in Mt had mortgage issues with Mountain West Bank?

Read more: Has anyone in Mt had mortgage issues with Mountain West Bank?

Bank repossession without written notice?

I was $19,000 in arrears on my mortgage, the bank asked me to make it up by paying $2000 a week I managed that for about 6 weeks then resumed normal payments because we were going into the winter season which always slows our income so effectively I paid about $6000 off the arrears.
so nothing was said from the bank.
we had a vacant block of land which secured the mortgage along with our house.
we had put the land up for sale with a real estate agent as the cheapest block of that size in the area at $185000 we were in a position to drop the price by 20 or 30 thousand, but when I checked with the real estate he informed me that the block had been repossessed, we had no notice of this.
the block was sold for $119000 no notice was given to us of the sale or the sale price.
we lost the opportunity of selling the land ourselves and making 40 or 50 thousand from the sale, this all happened 3 years ago we have just received that documentation 3 years later. Has the bank broken any rules here.

Read more: Bank repossession without written notice?

How to get second mortgage away?

Okay well my great grandparents adopted me and they recently passed away and they owe alot of money on the house but I would really like to keep the house because it has alot of memorys and all of us kids grew up in is there a way that I can get help to pay off the house?

Read more: How to get second mortgage away?

I have a credit score of 511 and want to know how to repair this number. I now earn enough to pay off in full?

I expect to inherit money enough to be able to outright but a HUD home but they will require me to take a minimal mortgage

How long at BEST do you think repairing my credit enough for a small mortgage will take

Read more: I have a credit score of 511 and want to know how to repair this number. I now earn enough to pay off in full?

At what point in paperwork is a person committed on a mortgage / purchasing a home?

We have the chance to purchase the house were renting, and I need time to think, hard to explain, is any paperwork I sign before closing on the house such as the purchase agreement signed by myself and my fiancée (which I have not yet signed) obligating me? Or am I not legally binded to purchase the home until we close?

Read more: At what point in paperwork is a person committed on a mortgage / purchasing a home?

VA loans on a $8000 mortage?

So im gonna join the navy soon and after my 4 years of enlistment, i want to buy a house with a mortgage that'll be $8000. With the VA loans, how much would i have to pay monthly instead of the whole $8000.

Read more: VA loans on a $8000 mortage?

Failure to disclose real estate with heating and cooling system?

We recently closed on our home after going through all the motions and inspections and asking all the questions to ensure we purchased a good property that would not hurt our family financially or be a burden. We have lived there for 3 days and cannot get the home warm even running a fire, pellet stove, and the heat pump/electric baseboards/spacepak. The thermostat is set at 60 degrees and won't even go above 39 degrees. We had an inspector look at the system for functionality during our home inspection who found the system working etc. However, we had a heating/cooling guy out today who informed us the reason it won't heat the home is that the system is not large enough or powerful enough (it is a spacepak, our home has electric heat) which also means it is not enough to cool the home. The system was installed by the sellers in 2009, they never disclosed on the property disclosure form an inadequate heating and cooling system or any problems related to it. She also told us her electric bills ran 150-200 a month, and now that we have closed and the electric company had set up our account, we have been told their bills had run $800 a month in the winter and $400 in the summer, this could bankrupt us as that is more than half our mortgage alone in bills. We really need some advice here. We are going to an attorney but can't get in for a few days and are sick over this. We have two small daughters who can't even come home because it is a meat locker and truly dangerous for them to be there right now.

Read more: Failure to disclose real estate with heating and cooling system?

Ex husband accrued tax lien after the divorce and his name is still on the deed?

I recently received a notification in the mail from the IRS stating that my ex neglected to file/pay taxes in 2012. He owes $57,000 with penalties. He is self employed.

I was awarded sole ownership of the marital home in the divorce that was finalized in 2010. I was not required to refinance in my name alone so his name is still on the mortgage.

If he continues to ignore the IRS as I suspect he will, will the IRS be able to place a lien against my house? I'm definitely looking into refinancing, but not sure I will be able to (my credit rating was badly damaged during the marriage)

Thank you in advance for any thoughts, input, or opinions.

Read more: Ex husband accrued tax lien after the divorce and his name is still on the deed?

I'm 28 and have no idea what to do anymore, I feel trapped and depressed and scared my life is passing me by?

Hi, I'm a 28 year old female with no clue what I'm doing in life & scared I'm missing out. I live at home with my mum however even though she also works she relies heavily on me paying the mortgage to our home. I've always been happy to do this, but now I'm 28 I feel I'm missing out on my 20's.
I have no social life, my few friends have children & boyfriends/husbands & their own houses, they have things to look forward to like wedding etc, I've had no boyfriend for years, no career, nothing to feel proud of. I feel so trapped but I don't want to leave my mum struggling to get by. I have always dreamed to travel, I spend hours looking at places abroad & reading travel blogs, I have this dream to visit New Zealand & when I think about it so much I get so upset & depressed. I'm scared I'm missing out on my 'youthful' years. With this fear I've started emotional eating & have now put on alot of weight (like stones not pounds) & with the stress of my busy supermarket job (which I hate but there's no other job) I'm trapped & can't seem to see a way out anymore.
I want to lose weight but mum thinks that buying all the sweets and junk food is a way to say thank you & I'm embarrassed to explain to her how much I hate my body & what I've done to it. Also how to explain I want to travel, I'm so so scared to go alone, but have no choice as I have no friends to go with, but I am so determined to go now to experience the world. But I don't want to leave my mum alone, please any help.

Read more: I'm 28 and have no idea what to do anymore, I feel trapped and depressed and scared my life is passing me by?

If I buy my council flat can I then rent it out?

After 5 years now I can buy my council flat they will make discount, I will pay all in together no mortgage
then can I give it to rent after I buy it?

Read more: If I buy my council flat can I then rent it out?

If i pay what i owe, how long would it take to get a mortgage?

i am 27 and when i was 19 my younger days i got a car on hp and a loan but never paid it back. Tho i did give the car back after 4 months. But now ive setteld down and would love to buy a house. But with my disastrous credit rating i will never get it. If i were to pay my creditors in a lump sum say £6000 how long would it take for a bank to give me a current account and then a mortgage?

Read more: If i pay what i owe, how long would it take to get a mortgage?

How is net proceeds distributed from a joint ownership property?

Hi everyone, I had been with my ex parter for 7 years when we decided to purchase our first property together last November.

She had recently received some inheritance money from her granddad which she used to pay for the deposit of the house (nearly £70k. As she only worked part time and I had a stable full time job. We entered into the mortgage as joint owners.

We then moved into our new home, took out a couple of loans to furnish and do up the house, and now she has decided to leave as she has met someone else.

I now have a suspicion that she is speaking to a solicitor to try and get all of her deposit money back, leaving me with debt, two jointly owned dogs that she now doesn't want to deal with and no where to live.

Where do I stand with this? As I feel as though I should be entitled to 50% of the proceeds of the house as I have supported her for 4 years in our previous rental properties whilst she was still working part time etc

Can she dispute this if she can prove she paid the deposit? Can I claim 50% automatically?

Help!

Read more: How is net proceeds distributed from a joint ownership property?

Renting out or selling:a couple of properties paid off?

I have come across financial calculator or spread sheets, but the assumptions are all there are mortgage payments. So what if the house is paid off, what are the factors I am looking at to make the decision of renting vs selling.
I don't have other investment that gives me great return such as stocks I only do retirement funds.
Our property taxes are pretty low too.

I know what I should think about, but just really want to be more precise about making this decision. Needing advice. Thanks

Read more: Renting out or selling:a couple of properties paid off?

Credit check on shared ownership?

I have the cash to buy a 50% shared ownership property without having to obtain a mortgage.
Will the housing association need to do a credit check for the 230 pounds a month rent that i will be paying?
Would be really grateful if someone could answer this for me.
Thank you
Glen

Read more: Credit check on shared ownership?

How much will I have to pay my husband if I get a divorce?

I make 200k a year, my husband makes 30k a year and it's been like that for the last 10 years. We have 2 kids, a 19 year old boy and 11 year old girl. We have our house on mortgage for which about 150k is left and 150k has been paid off. I own 1 car which is paid off. My husband is leasing a car. The kids would stay with me as they get along with me and not their dad. My husband doesn't help out at all. He hasn't put in a DIME into our house. It should be my house but stupid laws about married couples in Wisconsin split evenly. So considering the situation I am in, would I have to pay my husband money from my salary? Would he get part of the house? He doesn't deserve any of it…

Read more: How much will I have to pay my husband if I get a divorce?

Background credit check for loan originator?

I recently accepted a position as a mortgage loan originator with a bank. They explained according to federal law they must run a credit check to prove my financial responsibility. My credit is poor but mainly because of medical bills. I did receive an email from them to explain a charged off account in the amount of 60 dollars from 6 years ago. My questions are what federal law is this that requires the credit for these types of positions? Do they only inquire about charged off lending accounts as this was the only account they asked me about i just want to make sure the medical stuff wont be an issue for this later.

Read more: Background credit check for loan originator?

How to buy land online without being scammed?

I'm looking to buy a piece of cheap land near a natural water source, where I can build a rustic cabin and live a quiet, mostly off-the-grid existence. I've heard of websites that do not care about credit, all you do is pay a small down payment (hundreds, not thousands), sign a mortgage contract and as long as you make the small payments every month the property is yours. My intention would be to drive and look at the land before purchasing, but does anyone know of any LEGIT websites where I can find a consolidated and thorough listing of properties for sale for each state? I want cheap land and it doesn't matter if it's developed or not. I want it somewhat forested and near a fresh water source (river, creek, stream, etc.) where I can collect water to purify and drink. I'm not exactly sure which sites are legit and which ones could possibly be fraudulent. I'm looking to spend my retirement funds on this idea, so I don't want to lose my life savings to a scam. Thank you!

Read more: How to buy land online without being scammed?

Repayment of Mortgage in joint names?

Me and my ex are divorced we have a 4 year old daughter together and have come to an agreement between our solicitors about our house. I have decided to make a full repayment of my mortgage as well as paying his share to him by borrowing money from friends and family. However, my major worry is the moment he finds out that the full loan has been paid off he will try to convince the mortgage company that the title deeds should be sent to him because his name is on the mortgage account. What I want to know is that should I send a copy of a consent order that is signed by me and my ex which is stamped by the court to the mortgage company so they don't give the deeds to him because the monies will be transferred from a friends account to the mortgage company not my account.

Please could you give me much advice as possible.

Thank you

Read more: Repayment of Mortgage in joint names?

Stop paying joing Mortgage and move abroad?

What would happen? I have a mortgage in UK with my stbx. She is playing a very very difficult game during our divorce and I just can't take anymore. No agreements are in place and I pay the mortgage month in month out whilst she lives there (London mortgage so is a lot).

Its reached a point where I couldnt care about the equity anymore.

I want to move abroad (Canada or Australia). Credit report is NOT part of the application to move to Canada, so does that mean I could just go to Canada and stop paying my mortgage here?

They would chase my stbx I assume since they can't find me. If she doesn't pay I assume house will get repossessed. If she does pay then great (house will still have my name on it).

Stupid idea and not ideal I know, but as a last get out and escape, its possible isn't it? Its not crimincal is it? I will tell my stbx of course, and just say, you live there, i've paid since we bought the house last year, so now you pay or lose it.

Does repossession result in bankruptcy? There is a lot more equity than mortgage so even with fines and forced selling we should not owe anything. So does this just damage credit report or is it a blackmark?

Read more: Stop paying joing Mortgage and move abroad?

Take FHA loan now or wait for conventional loan?

Hello.
Because of credit, I am qualified for a FHA loan and not for a conventional loan. I believe there are extra fees at closing for a FHA loan which is not the case with the conventional loan.BTW, I can put 20% down now.

Financially, is it better to rent now for about 12 months and wait for conventional loan or go for a FHA loan now and refinance when eligible? Thank you.

Read more: Take FHA loan now or wait for conventional loan?

Can my parent get approve for FHA mortgage loan?

If they make income of only $1700 together? Their credit score is over 620. They want a cheap house under $100,000. They don't have any bill except cell phone.

Read more: Can my parent get approve for FHA mortgage loan?

My wife's credit is great and mine is horrible. How do we qualify for a mortgage?

My wife and I want to be in the market for home of our own that is priced no higher than $125,000. Her credit score is very high, and mine would have to go up 100 points just to be bad. She just began her new career as a registered nurse, and I am a retail manager. (For the record, I do a much better job of managing my department than I do my personal finances.) Between the two of us, we make more than enough to pay a mortgage payment. The issue is, I want to keep our finances separate, with no accounts of any sort being held jointly, because I do not want my score dragging hers down. I told her that unless we approach a lender with a sizable down payment, it's unlikely anyone will want to offer us a loan that doesn't come with an astronomical interest rate. Right now I have $3000 on hand for a down payment, but that isn't going to cut it. Any advice would be greatly appreciated.

Read more: My wife's credit is great and mine is horrible. How do we qualify for a mortgage?

Worth refinancing? Have all the data necessary.I think?!

Original: 30 yr mortgage in June of 2010 of 154,000 at 4.875 with no PMI.
Current info: Balance of $142,710
Payment breakdown:

Principal & Interest $814.98
Homeowner's Insurance(s) $55.50
City Tax $260.92
Shortage $15.96 (I think Escrow)
Scheduled Payment: $1,147.36

Property Taxes Paid Last Year: $3,130.97

My goal is to sell the house in 3-7 years. I would obviously like more equity in the house at time of sale, so I thought a 20 year would help? I recently obtained rates: 3.99 w/no closing costs and I would escrow taxes/insurance myself (not a big deal for me). I know my monthly payments would be higher, but would I break even once the house is sold? Er, how many years until I break even? Can that be calculated.

Thanks!

Read more: Worth refinancing? Have all the data necessary.I think?!