College is way too expensive?

And don't talk me to me about that loan bullshit
I don't wanna have a mortgage without a house, because that's basically what it is
It's not normal that in this country one should pay at least 20 000 dollars a year to have a decent education
There can be no democracy when education is reserved for only the wealthy… It becomes a plutocracy

So yeah I don't know how so many people just accept to pay so much money for what is supposed to be a right… What are your thoughts?

Read more: College is way too expensive?

Make additional payments towards mortgage or invest?

Please explain why?

Read more: Make additional payments towards mortgage or invest?

I'm about 7-8k underwater on a car loan thinking about letting it get repoed pitfalls? Advice?

I got a car in Feb of this year, the payment is more than my mortgage payment at $760 a month and I have a high interest rate of almost 11% despite having relatively good credit ~670 FICO. I've been turned down for refinancing because I'm 7-8k underwater due to depreciation. Anyway I can handle to payment for another 6 months or so but looking at it long term the car will always be worth way less than I owe unless I can throw down some serious cash which I dont see happening. IF there is a company which might refinance I'd be willing to give it a shot but I'm wondering if I should even bother, yes I know a repo will seriously damage my credit but I already own a home and would probably be better off buying cars cash in the future anyway since Im on a fixed income. Any insight or advice? Thanks

Read more: I'm about 7-8k underwater on a car loan thinking about letting it get repoed pitfalls? Advice?

Points on a mortgage or no points on a mortgage?

Is it reasonable for a home seller to pay closing costs if I decide to add points to it to lower my interest rate on the mortgage?

Read more: Points on a mortgage or no points on a mortgage?

Is there a loan that help homeowner paying property taxes?

I saw some property tax bills paid by a loan company. I'm wondering.

If so, is the title of that property clear?

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Is a 75,000 dollar home worth buying?

Me and my husband were offered a home valued at 100,000 market value. Big yard, big shop, for 75,000. Zero down. 30 years. What I'm worried about though, is the fire risk. It's at the top of a hill, and surrounded on three sides of the home is dried field/weeds, things that can catch fire easily. There was a fire behind the home once as well. What do you think?

Read more: Is a 75,000 dollar home worth buying?

Analyze Mortgage in Visual Basic?

How do you do the actual calculations?
I have the rest of the code as follows.

Private Sub btnAnalyze_Click(sender As Object, e As EventArgs) Handles btnAnalyze.Click
'Define Variables
Dim loan As Double
Dim length As Double
Dim interest As Double
Dim monthly_payment As Double
Dim total_interest As Double

'Error Checking
If txtLoan.Text <= "0" Then
MessageBox.Show(" Please fill in the loan amount", "Missing Information")
ElseIf txtRate.Text <= "0" Then
MessageBox.Show(" Please fill in the interest rate", "Missing Information")
ElseIf txtLength.Text <= "0" Then
MessageBox.Show(" Please fill in the loan duration in months", "Missing Information")
'Compute
Else

End If
'Assign Values
loan = CDbl(txtLoan.Text)
length = CDbl(txtLength.Text)
interest = CDbl(txtRate.Text)
monthly_payment = loan * (interest / 12) / 1 - (1 + interest) ^ (-length)
total_interest = length * monthly_payment - loan

End Sub
End Class
Added (1). The formula for the monthly payment is:

Payment = p * r / (1 â€" (1 + r) ^ (-n. ,

Where p is the amount of the loan, r is the monthly interest rate (annual rate divided by 12) given as a number between 0 (for 0 percent) and 1 (for 100 percent), and n is the duration of the loan in months. The formula for the total interest paid is:

total interest = n * payment â€" p.

Read more: Analyze Mortgage in Visual Basic?

Is it easy for a newcomer to buy a house in an auction?

Is it easy for a newcomer to buy a house in an auction?

Read more: Is it easy for a newcomer to buy a house in an auction?

Op moral and behavioral issues of others after a relationship ends?

In the final year of a 6 year relationship that involved helping raise my now 7 year old daughter & a mortgage together, he developed a friendship that grew into a one-on-one working/business partner relationship with a woman. We had many issues with it, especially after he came back from a 2 week business trip a completely different person. Always angry or disinterested. He left us while my daughter & I were out of town, giving us a "heads up" on our last night. Afterwards the woman began following everything I said/did on social media & texting him reports. When I found out I was so upset & uncomfortable that I blocked her. He just found out tonight when I tagged a post with only the people I'm 'Friends' with on FB, which didn't include her. He stated I am "a shitty person" for blocking her & I am "******* with his job" by doing so. He told me he had asked her to spy on me & she was just being a good friend. I feel complying with a request to stalk someone's recently dumped significant other is unscrupulous & disturbing. I will be perfectly courteous in a professional setting, but do not want her to have contact with myself or my daughter otherwise. Honestly, I felt violated when I discovered she was researching my every move as some pro bono gig to make sure I didn't share any details of our relationship. Please weigh in. Maybe I'm in the wrong, or right, or I don't know. Be blunt, I need it.

Read more: Op moral and behavioral issues of others after a relationship ends?

I don't understand the concept of prison?

I just can't understand the whole concept of prison!"Hey, let's put all the troubled people who committed crimes together in a building". I don't want to be ignorant and i am really curious about other peoples opinions so i really want to know what the society thinks about this. I remember a girl at my school saying "why don't we just kill all the murderers instead of feeding them and providing them whatever they need". And then i started thinking these people aren't just evil they grew up in f(u)cked up neighborhoods and families and they just went with the flow. But every individual has its reasons and if we talk about a mentally sick people then that's also non of their fault. Do i want someone raping me, or killing me, or robbing me? NO! But i just feel like we tend to blame others for something that isn't really their fault. Also humans are naturally evil and our society and laws are unnatural in a way for us…

Read more: I don't understand the concept of prison?

Is it possible to get a mortgage for a house in dublin that costs 3,700,000? I live in uk and want it so bad?

Is it possible to get a mortgage for a house in dublin that costs 3,700,000? I live in uk and want it so bad?
Added (1). 3,700,00 euros ****

Read more: Is it possible to get a mortgage for a house in dublin that costs 3,700,000? I live in uk and want it so bad?

How much does credit score drop if late in mortgage payment one time?

Mortgage payment late 30 days

Read more: How much does credit score drop if late in mortgage payment one time?

Has anyone gone with Quiken Loans on a mortgage?

I just wanted to check them out and see what they had to offer. This guy there is aggressive on pushing us through. It's a 15 year commitment and I'm going to take my time and see what others offer. He's too pushy and think I'm going to dump him.

Read more: Has anyone gone with Quiken Loans on a mortgage?

Deceased forged ex-wife's name, how much do you think the fine would be?

So apparently a deceased person when he was alive forged his ex-wife's name to reduce the mortgage payments rate to make it more affordable to make payments towards the property. I'm uncertain of this but it is possible he asked her to sign off on the offer and she refused to sign just to make life more difficult for him out of spite. The property was awarded to the deceased when alive. However, to secure alimony her name remained on title and the mortgage itself even though as mentioned before it was awarded to the deceased. It appears that the signature was not done to defraud the ex out of money as the deceased always made full payments towards the mortgage where the ex never contributed any funds towards the mortgage. I'm hoping someone can give me a guesstimate on what a judge would do in regards to rewarding her in a form of a fine. Would this situation be handled differently than for example a slander case that caused no professional damages? The judge is a straight shooter and gets down to the point which I appreciate. However, I'm really concerned that the widow will suffer even more financial hardship due to this unforeseen situation which she wasn't aware of. Fining the estate would just result in punishing the grieving widow. Any input is much appreciated as I'm really concerned about this.😢

Read more: Deceased forged ex-wife's name, how much do you think the fine would be?

Purchasing a BANK OWNED home at auction?

Hi there.

I'm currently in the market for an investment property & came across one right up the block from me that goes up for auction this coming monday, September 1st.

I just have a couple questions i am slightly confused about.

1.) this property is being AUCTIONED as a BANK OWNED property so i've been reading about different terms & conditions that differentiate a traditional sale of a bank owned home & an auction of a bank owned home.

in a traditional sale of a bank owned home, i'm aware that you also inherit any liens or outstanding loans on the property including the original mortgage… However…
I've read numerous times that in the event of a bank owned property being AUCTIONED, you do not inherit the outstanding liens or mortgages, as this is the last step in liquidating the house for as much as they possibly can in cash on the spot… Which does make sense to me, but i am still not convinced 100%.

just curious if anyone had any experience in this at all? Any input is greatly appreciated!

Read more: Purchasing a BANK OWNED home at auction?

Why do so many adults consider themselves as kids?

Did Obama care create a trend of adults who think they are now like teenagers? 26 years old, on Mommy and Daddy's insurance, at an age when most people are married, beginning their careers, raising children of their own, living in mortgaged houses? Why would any adult stay on their parents insurance policy at 26 ys old?

Read more: Why do so many adults consider themselves as kids?

What are some good mortgage tips?

What are some good mortgage tips?

Read more: What are some good mortgage tips?

How much does should it cost to demo a large shed?

I am buying a home that has a large shed in the back. The loan is FHA and the appraiser requires it be torn down or repaired. This is an old shed close to 100 years old and was built with all 2x4s with many rotting pieces so fixing it would cost the same as rebuilding a new one. The shed is approx 15x24 in an L shape. I'm working with a contractor for the other repairs and he quoted me at $7,500 for a full demo, I said leave the floors and he brought it down to $5,500. This seems like a rather large amount especially looking around online I was expecting 2-3k at most. Is his quote realistic? Im under a deadline so I had him write it up but I most likely will do it myself or find someone with a excavator to come in and just crush it.

Read more: How much does should it cost to demo a large shed?

Are there government assistance programs that pay for additions to your house?

My neighbors receive government assistance for their mortgage- food - daycare- yet they are planning on building an extension on their house-

Read more: Are there government assistance programs that pay for additions to your house?

How long does it take to complete a short sale once a buyer has been found?

How long does it take to complete a short sale once a buyer has been found?

Read more: How long does it take to complete a short sale once a buyer has been found?

Is there a smart watch app to calculate mortgage payments?

A smart watch should provide the convenience of a financial calculator not just being a heart rate monitor?

Read more: Is there a smart watch app to calculate mortgage payments?

Choosing a title company for a mortgage closing?

Who chooses the title company when you go to sign a mortgage? Do you have to use the one the lender says they use, ( we were going through a "private lender") or can you pick your own title company?

Read more: Choosing a title company for a mortgage closing?

Denial of a loan by a title underwriter, is this legitimate?

My mother separated from my dad in 1996, leaving the home they shared. She had quit claimed the property to him at that time. In 2010 she found out he never recorded the quit claim. She immediately quit claimed her interest to my brother, but not having lived there or with my dad in 14 years she left off her marital status and that the property was not her homestead. My dad passed away, and my brother ( never wanting the property) sold me the home. He signed a quit claim deed to me. He had never resided in the property. We did a quit claim deed at our county courthouse and the judges secretary notarized the quit claim deed and employees at the courthouse witnessed the deed. I applied for a home equity loan to make some needed repairs to the home, and the loan was approved. While waiting for a closing date the "mortgage broker" tells me they've hit a snag with the deeds, that they are not viable deeds and the title underwriter will not sign off on the loan. They have been jerking me around for 6 weeks with so many different excuses, this is just the latest one as to why we haven't closed the loan yet. But they also told me because of "all of their hard work and research of the deeds I owe them over $3500.00, and if I do not pay them, they will put a lien on the property. I feel like I have been seriously scammed and want to know, if their lien would be legal, and if anyone knows what government agency I can report these con artists to.

Read more: Denial of a loan by a title underwriter, is this legitimate?

What are the legal liabilites of a mortgagee after having lender mortgage insurance on the property?

What are the legal liabilites of a mortgagee after having lender mortgage insurance on the property?

Read more: What are the legal liabilites of a mortgagee after having lender mortgage insurance on the property?

How to make profit from renting out houses?

How can you if you're still paying mortgage? Won't you just be making enough to pay the mortagage? Beginner.

Read more: How to make profit from renting out houses?

How to get my name off of a joint mortgage?

My name is on a mortgage, on a residence I have not resided in, in about 4 years. The only way I was told to get my name off of the mortgage, is if the other person on the mortgage sells or refinances. I know he would not be willing to sell. He has no job, and horrible credit score, so I doubt he can refinance. Someone please help me!

Read more: How to get my name off of a joint mortgage?

Use equity from rental property to have smaller/no home mortgage?

We are planning to downsize to a $250K house (from a $450K house), as we are feeling "house poor" and unable to fund things like our IRA's or family travel. We have three sources to use for funding the down payment on our new mortgage (if we have one):

- 100K: The sale of our current house should yield about $75K to $125K after realtor fees and paying off our mortgage.

- Up to 144K: We owe $128K at 6.5% on our $340K (FMV) investment condo. I assume we could refinance it at up to $272K, yielding us up to $144K we could use toward the house. (Is this allowed?)

- Up to 50K: We have about $50K sitting in stocks.

Other facts: We're in our 40's and have 2 college-bound kids under 10 years old. We live (and own a rental condo) in a town where property values have actually gone up about 10% over the past 10 years, and we don't think they'll go up much further. We're moving to a town where housing prices are at a low. We want to live simply and are pretty scared about the future economy, but we want to make sound financial decisions as well.

Our question: How much should we put into our new mortgage, and from where should we source the money? I know there are implications tax-wise, economy-wise, financial-aid-wise, etc. We're even considering having NO mortgage on our new home… As we've come to prefer making voluntary IRA contributions over making monthly forced mortgage payments.

P.S. Another option would be to sell the rental condo and get back $150K (after capital gains and realtor fees), but we don't think we want to do this, as it's an easy rental, and someday may become rental income, or even our retirement home.

Read more: Use equity from rental property to have smaller/no home mortgage?

Is Christianity to blame for the Prohibition era?

Is Christianity to blame for the Prohibition era?

Read more: Is Christianity to blame for the Prohibition era?

Can I pay a 30 year fixed rate mortgage in 15 years?

Do most mortgage lenders let you make additional payments toward the mortgage without any penalties? I want to get a 30 year mortgage and try to pay it off in 15 years or less. I could possibly get a 15 year fixed rate mortgage but I wouldn't have much wiggle room if something were to happen to my job or if we several shutdowns. I have never had a mortgage before but I will probably get my mortgage through Wells Fargo. Do they charge any fees or penalties for trying to pay off a mortgage as soon as possible?

Read more: Can I pay a 30 year fixed rate mortgage in 15 years?

Refinance car loan within a year of purchasing a home?

I recently paid off my credit card debt. My score shot up to a 733. I want to refinance my car loan for a lower interest rate - but I am also considering purchasing a home with my fiancé in 1 year. I don't want to hurt my score in any way to negatively impact my future mortgage loan but would like lower interest payments on my auto. What should I do and why? Details would be helpful. Thanks.

Read more: Refinance car loan within a year of purchasing a home?

Mortgage with a new job out of state?

I moved out of state over 2 years ago and haven't really found a steady job. So I am going back to the state I used to live in and am getting my old job back where I worked for ten years. Will I be able to get a mortgage since it's a "new"job, but I've worked there before?

Read more: Mortgage with a new job out of state?

How much income do you have to make to afford a 400k house?

Already paid 20% down payment

Read more: How much income do you have to make to afford a 400k house?

Should you pay 50/50 in a relationship?

My boyfriend and I are looking to move in with each other. Our circumstances aren't the norm in that we've been long distance for most of our relationship (almost a year). He's moving south to join me in a couple of weeks.

Currently unemployed, I've desperately been looking for work. Last week I was offered a job with a really low salary- it would have meant I'd barely afford to go out, let alone start saving again. I hate talking finances but all of my friends split the bills/rent/ mortgage in relation to their earnings. So I had a have the awkward conversation.over FaceTime. His reaction. 'Thats what established couples do,' 'I thought we'd be going 50/50'.

He's just finished his masters so I appreciate that he is keen to be earning again and adding to his savings. He would have been looking at a salary at least £5k more than mine and I just can't shift this feeling of unease.

He filled out a budgeting sheet, with money set to travel home/ Xmas presents/ £400 savings a month- so it showed nothing at the end of the month. Am I right in feeling hurt by his reaction? Honestly, I hate being in this situation and just a couple of years ago was earning £12k more than I'm being offered. I don't want to lean on anyone but its made me question how he values us and me.

Read more: Should you pay 50/50 in a relationship?

Mortgage debt and social housing?

Mortgage debt and social housing?

Read more: Mortgage debt and social housing?

Benefit to making multiple mortgage payments on 30 year mortgage?

Lets say I have a traditional 30 year mortgage and my monthly payment is $700.

Is there any benefit/upside to paying 3 months up front? Would it reduce my interest cost down the road? How would Bank of America treat a prepayment like that?
Added (1). I have some extra $$ and want to make sure I am paying the least amount of interest as possible.

Read more: Benefit to making multiple mortgage payments on 30 year mortgage?

How can anyone live comfortably?

I'm 15 years old. I live on Long Island. Lately I've just been noticing how expensive everything is. Insurance,Mortgage,Taxes. How does anybody live comfortably with all these things you have to pay. The average American makes about $45,000 or so I was told. I'm scared that I will be barely living cause I'll have a bunch of crap I have to pay. How does anyone live life? Especially when you have a family.

Read more: How can anyone live comfortably?

Legal rights and best course of action?

Here's the situation: Simon and Suzanne are shown a home by a real estate agent, Warren, selling the house on behalf of the owner, Leslie. Leslie has instructed Warren to sell quickly but for not less than $425, 000. Simon asked Warren whether there was any plan to redevelop the area and declare it “non-residential”. Warren answered: “Not to my knowledge, but I’ve lived in this area all my life and you could not find a better place. Why would they want to destroy it to build a road?”
Suzanne and Simon bought the house for $425, 000 jointly liable on a mortgage of $375, 000. Written contracts were prepared with Warren signing on Leslie’s behalf.
Months later the Queensland Department of Transport informed the owners that their properties would be compulsorily acquired for the construction of a freeway. It then lawfully purchased the land for $80, 000. This is all the compensation that Suzanne and Simon received.
Their bank then pressed for payment of the outstanding mortgage with interest. They were unable to make repayments.

Here's the questions: Is there an enforceable agreement? Is there any common law or statutory protection available for the individuals? Are there any relevant terms of the contract (if one exists)? Has there been any misrepresentation of terms of the contract? Are there any legal grounds to set the contract aside? Has the contract been discharged, if so how? Are there any damages suffered by any of the stakeholders? Are there any relevant remedies?

Read more: Legal rights and best course of action?

Difference between 225k mortgage and 199k mortgage? 30 yr FHA?

Difference between 225k mortgage and 199k mortgage? 30 yr FHA?
Added (1). if i go from looking at 225k mortgages to 199k mortgage, is the difference really only about 70 bucks? I'm sure with the PMI that might change too but that still wouldn't be a huge difference right? I have gotten some good faith estimates with different values from my preferred lender but I hate to bombard her with too many scenarios all the time. It makes sense but also seems crazy that such a change in price only changes your payment a little. I'm just trying to understand it:)

Read more: Difference between 225k mortgage and 199k mortgage? 30 yr FHA?

Should I make a low offer on house?

My wife and I just found a house that its pretty nice and the price is around $319,000

Right now my wife and I make a combined income of $81,000. We already own a home but out of state and it has a steady rental income which pays for its own mortgage. She is about to start college and I will start graduate school next year so our incomes could go higher in the next 5 years.

Anyways, the house has been on the market for about 9 months now and we were thinking of putting an offer of 250k do you think that's too low? Should we go a little bit lower considering its been in the market for so long?

We rent right now and the mortgage + tax, insurance, etc. For that amount (250k) would be almost the same + 500 bucks. For 320k would be almost 900 extra which I really would not do right now.

What should we do?

Read more: Should I make a low offer on house?

Will lapse in property insurance affect your premium?

I haven't insured my property for two years because I paid off my mortgage. Will this affect my premium when I get new insurance?

Read more: Will lapse in property insurance affect your premium?

Backing out of home purchase after home appraisal?

We've been working on buying a house. One of our inlaws wanted to live with us and has now decided she wants her own apartment instead. We would have been fine with her living with us as she's contribute but we can barely afford it without her living with us.

I understand that we will lose the earnest money and that's fine but my agent says the seller could sue us if we back out so close to closing. We're trying to find in our paperwork where it talks about a penalty but can't find it anywhere. The only thing even remotely resembling a penalty is when it states that we must pay the monthly mortgage or risk foreclosure.

Please help! What is the name of the document its attached to? Everyone keeps saying "Purchase Contract" but there's nothing here that even remotely resembles those words and nothing on any of the pages on any of the documents that explains.

Frustrated.

Read more: Backing out of home purchase after home appraisal?

I am in process of buying a home?

and the contract between the seller and I states the 29th as closing. The lender (FHA loan) states today that they need additional information from the structural engineer which would make closing past the 29th. Can I as the buyer, change my mind and not continue with the loan process and buying the home? What would be the repercussions?

Read more: I am in process of buying a home?

Mortgage/Buying House in Tennessee?

I had a question about getting a mortgage/buying a home. We are currently selling our house. I bought it before I married my wife. She is currently a stay at home mom with our disabled son. I was wondering when we find a new home, does she have to be on the mortgage? Will they check her credit?

Read more: Mortgage/Buying House in Tennessee?

What's a good life-changing book for middle-age? - 1

When I was young I read Kerouac's Dharma Bums, totally changed my perspective on the world, gave me a new way of looking at things, and pointed out a direction that life could go in. I read it every year without fail, but these days it seems a little "pipe-dreamy". It's all very well living your life that way when you're young, less so when you've got kids, a mortgage, run a business etc etc etc.
So what's a good book that can totally change your way of viewing the world now that I've reached middle-age. I need to re-orient and I can't find good examples of which way to turn. 40-somethings seem to be only allowed to focus on making money.

Thanks in advance
Added (1). Wouldn't mind running off with a manic, pixie dreamgirl. I wonder if my wife would like to come. Hahaha

And "Did I become a Dharma bum"? Interesting question. Yes, for a very long time, but it seems to have faded away somewhere in the mists of time. I think the problem came when I tried to get a Monahan-style cabin in the woods. It sounded great, but Kerouac didn't have to pay the mortgage, he slept in the cabin out the back! Hahaha

Read more: What's a good life-changing book for middle-age? - 1

Will a bank refuse a mortgage because they've already lent on that address?

It's a new house development with Redrow, financial broker has told me I can't apply for a Halifax mortgage because they've already given too many mortgages at that development so they won't lend any more money on that area.

He has told us a lot of lies so just trying to figure out if that's another lie or if it's true?

Many thanks
Added (1). thanks for the replies so far, the reason why I'm using this broker is because Redrow forces me to do so, I either use their broker and expensive lawyer or I can't get the house.

Read more: Will a bank refuse a mortgage because they've already lent on that address?

Mortgage: Is it possible to pay half of your mortgage upfront then carry on paying monthly payments?

Just wondering If you saved up, and wanted to buy a house on mortgage, to reduce the years of payment and the amount, could you say I want to pay for example £60,000 towards my mortgage up front then what ever is outstanding pay the rest until it is paid off?
Thanks

Read more: Mortgage: Is it possible to pay half of your mortgage upfront then carry on paying monthly payments?

Do you consider investment return and call yourself with a job title?

Assuming you work in a company as a supervisor. You get paid as a supervisor. Then you use your salary for your personal life (bills, mortgage, etc). Then when your friends ask, you say, I make money as a supervisor.

What about your investment return. Assuming you run a small business online. You make profit example you made $15000 profit last year. Yes you make money, but you dont really use the profit for your personal use and you invest it again to your business. When your friends ask, do you give yourself a job title for this case? Like I make money as a business owner, but the thing is you dont really use the profit for your personal life.

Read more: Do you consider investment return and call yourself with a job title?

Distribution of mortgage-backed securities?

I don't understand the process of trading mortgage-backed securities.

When the investment bank collects the pools of mortgages and offers them to investors, how exactly is this done? Do investors simply own those pools of mortgages, or do they own shares which represent those pools of mortgages?

What do those pools of mortgages represent to the investors?

Also, does the investment bank make a profit from the cash flow from the mortgage borrowers?

Read more: Distribution of mortgage-backed securities?

Getting a divorce only been married a year and a half?

I'm just wondering how big of a finicial blow it will be for me, we have no kids she has her own job, I'm the only one who pays the mortgage and the deed is in my name. I'm wondering will I get the house and how much will she take from me, she refuses to leave the house so we can start the seperation, I'm the one who wants it I don't love her at all anymore neither of us committed adultery or anything I just don't feel like in the long run well work out and I don't want to have kids were her and pull us farther down she's too good of a person to do that too. Also is there any way I can get the house during the seperation, I'm in the military and I need a place to stay she can't afford to pay the mortgage, if I move out I can't afford to pay the mortage and rent somewhere else for me to stay if she stayed in our house during the separation.

Read more: Getting a divorce only been married a year and a half?

What would you do in my situation?

My uncle came to live with us after spending 16 years in jail however he annoys the F*&^ out of me. So my uncle got a job as a welder plus he just got a $1 raise. He makes real good money triple of what I make and I'm full time. Anyways I pay all the bills (utilities) plus cable and internet and on top of my expenses (phone insurance credit cards etc.) He has paid for a grocery bill once and most of the food was all for him. All he says to my mom is "sis ima help you out with the mortgage" but hasn't helped at all. He spends his money on going out to party and himself. What pisses me off is I think he is taking advantage of my mom and I (my mom is going through a divorce and I'm going to school and work full-time.)
PS he's immature, cries (literally) when you try to give him advice for anything even if you do it in the most polite way possible.
Am i an a$$hole? Or would you be pissed if you where in my situation. What would do in my situation?
Added (1). Sorry for the typos…

Read more: What would you do in my situation?

The cheapest 3 bedroom house I can find is $300k. Help?!

The cheapest 3 bedroom house I could find that was within 20 kilometres of my workplace costs $300,000. This is a really old brick house in a dodgy area in the Western suburbs of Melbourne.

How am I supposed to afford a house for my family when even the cheapest, worst house I can find is barely affordable with a 30 year mortgage?

Read more: The cheapest 3 bedroom house I can find is $300k. Help?!

Can $8000 be a good down payment for a townhome, condo, or loft?

Can $8000 be a good down payment for a townhome, condo, or loft?
Added (1). I am 25 and thinking about buying property somewhere. I stand to have about $8000 in savings by the end of this year and want to wisely spend it. Should I save more or just start out with an apartment?

Thanks!
Added (2). Well my price tag is about $80,000 which would make it about 10% of the price. I am leaning more towards a loft or condo though. Is it possible to find a property like that for this price? Also my credit is not so good, will this be a major hold back?
Added (3). Thanks for all the answers guys! I think I am going to wait this out and work on getting my credit up as well as paying off some of my student loan debt. All were such good and detailed answers. Thanks again:)

Read more: Can $8000 be a good down payment for a townhome, condo, or loft?

I am current on my mortgage but owe more than my house is worth. Should I do a short sale?

I am current on my mortgage but owe more than my house is worth. Should I do a short sale?

Read more: I am current on my mortgage but owe more than my house is worth. Should I do a short sale?

Do most people believe in global warming because they get paid to study it?

Face it, many so-called "scientists" who study global warming do so because that's their primary job. They need to pay their mortgage, feed their family, put their kids through college and such. If they came out and said there were no link between co2 and temps on earth, they would be out of a job and have to look for something else to do. Doesn't this fear of losing your job keep "scientists" well entrenched in the "global warming is real" camp?

Read more: Do most people believe in global warming because they get paid to study it?

The apartment i live in is being appraised. What does that mean higher rent or new owners?

The apartment i live in is being appraised. What does that mean higher rent or new owners?

Read more: The apartment i live in is being appraised. What does that mean higher rent or new owners?

How to stand getting a mortgage with bad credit?

I have suffered bad credit in the past, through my own fault, but am now debt free. My credit rating is still quite poor. I am looking to get a mortgage with my partner. His mortgage alone is not enough to get the mortgage we need. Are there any companies who offer mortgages to people with bad credit? Or is there anyway we can get the mortgage in his name but take my wage into consideration without me on the mortgage?

Thanks

Read more: How to stand getting a mortgage with bad credit?

How much money should I have saved up to buy a $95,000 house?

I have 30k and am really considering buying this house. I would put a 20% down payment on it for $19,000 and estimate closing costs around $3,500. That leaves me with $7,500. I will also need to buy furniture, appliances, and a bunch of small necessities which will put me at around $4000.

Read more: How much money should I have saved up to buy a $95,000 house?

Losing money from renting to family?

4 years ago my husband (before we got married) rented his house to his brother who had just lost his house and filed for bankruptcy. Since he was single and had the money to do so he rented his house out for $1200 less than the mortgage payment. Since then we've had a baby, bought another house and I've quit my job to stay home with the little one ( which means bringing home $80k less a year. His brother is in a much better situation now (making more money than my husband, and his wife is able to stay home. Good for him! :) and were now bringing in a lot less. We've increased the rent a a few hundred dollars but with much difficulty, and guilt trips. But we're still over budget because of the extra money it costs us to rent to them.

We need to increase their rent just to cover the mortgage (which is still below average rental costs in the area.) any pointers in discussing this with them without having them be mad at us. They have aggressive type personalities and my husband and I are passive people pleasers.

Any advice is very appreciated!

Read more: Losing money from renting to family?

Can I discount repairs in advance when selling a house?

I figure the buyer's inspection will find a bunch of stuff that needs work, and that the buyer will want to take that off the price of the house. Is it possible for me to take it off in the advertised price, to get more offers sooner? But not have to deal with buyers trying to double dip, taking the discount a 2nd time, after their inspection? If I simply sell it "as is" for the discounted price, will that cause a problem with the seller's mortgage company?
Added (1). I meant the buyer's mortgage company. But I can't seem to find a way to edit it.

Read more: Can I discount repairs in advance when selling a house?

Would I have to move back to the UK if this happened?

If I moved permanently to Finland since the UK is in the EU. But while I am living in Finland the UK somehow leaves the EU, would I be able to stay in Finland or would I have to move back to the UK?

Read more: Would I have to move back to the UK if this happened?

Can my ex-husband take the house back. We are divorced?

Me and my ex-husband divorced in 2010. When we divorced the house was in the process of being foreclosed on also the state had a lien on the property for unpaid taxes. The foreclosure was showing up on my credit report but no my ex-husband's, because the mortgage was in my name and not his. When I file bankruptcy in 2012 the mortgage company released the property to me with a statement saying that they had no further interest in the property and wrote it off, but the state still had a back taxes lien on the property. So I payed the back property taxes up and redeemed the house from the state. With the information I have provided. Can my ex-husband come back and claim the house?

Read more: Can my ex-husband take the house back. We are divorced?

Can I add extra money onto mortgage for improvements?

I'm looking to buy a house which needs some work. Can I add the money to the mortgage to do it up to a reasonable standard?

Read more: Can I add extra money onto mortgage for improvements?

Do you have to inform your mortgage lender and insurance company when you want to rent out your house?

If I buy a house then after a year or 3 I decide that I no longer want to live there and I buy a second home and decide to rent out the old one will that affect my mortgage and my homeowners insurance rates? Also will I have to inform them that I am renting out the property?

Read more: Do you have to inform your mortgage lender and insurance company when you want to rent out your house?

Do most mortgage lenders let you pay additional money towards you mortgage?

If I want to get my mortgage paid off faster can I make additional payments each month? Or make a big additional payment at the end of the year if I can afford it? Do mortgage lenderers usually charge someone for trying to pay off their mortgage sooner?

Read more: Do most mortgage lenders let you pay additional money towards you mortgage?

Is it legal to rent out every single room in your home and your basement?

I know a young man who does that and sleeps in the living room. He has a couple with a kid in the basement and working men in each of his 3 rooms. He told me he collects $1,600 a month which is pretty good considering his mortgage is $1050 a month. Is that legal?

Read more: Is it legal to rent out every single room in your home and your basement?

What additional expenses should I budget for when buying a home?

I'm in the military, I have a 670 credit score with around 8 years of history, and I gross about 44 grand a year.

I've never even considered buying a home before, but I'm about to get stationed in Panama City, FL for probably at least 5 years, and the selection of homes for sale seem to be much better than finding a decent one to rent.

I'll be using a VA loan to save myself some money, and I found a short sale home that was fairly decent for $77,000. (It first sold for 145,000 in 2004 according to Zillow)

According to the calculator, my mortgage would be between $350 and $450 depending on the terms and my credit.

But since I've never done this, what other expenses should I be prepared for? I know property tax and insurance are the big ones…

Any other significant recurring expenses OTHER than potential repairs?

And do you know a ballpark figure of how much they'd be for Bay County, FL?

Thank you.

Read more: What additional expenses should I budget for when buying a home?

What percentage of your income should go towards mortgage/rent?

Thank you!

Read more: What percentage of your income should go towards mortgage/rent?

If I plan to stay at the same area for 15+ years, is buying a house FINANCIALLY better than renting?

I am 22. Currently I'm renting an apartment for $565 by myself for per month. I have 30k between savings and checking accounts which includes 6 months living expenses. I make between 40k-43k per year (about 2200 per month after taxes). The house I'm looking at costs 95k which will be 19k for 20% down payment and estimating about 4k for closing costs for a total of 23k out of pocket. The mortgage (including taxes and insurance) would be about $530 for a 30 year fixed rate or about $700 for a 15 year fixed rate. Interest would be 54k on 30 year fixed or 19k on 15 year fixed rate. Should I keep renting?

Read more: If I plan to stay at the same area for 15+ years, is buying a house FINANCIALLY better than renting?

Mortgage payment on a house being built?

If you have a house being built, when do you make the first mortgage payment? Is it after the house is finished? Do you pay anything before or while it's being built?

Read more: Mortgage payment on a house being built?

Which one is a good long term investment stock - Is it Equity or Mortgage based REIT stock?

I have a question about Equity vs Mortgage based REIT(Real Estate Investment Trust) stocks. Example for Mortgage based REIT stock is AGNC, and for Equity based REIT stock is VNQ. This is just an example, I am not sure what will be a good long term investment between these two types of stocks. Both types are great, but they are not equals.
I am unable to decide, I would like to know which one is a better for a long term investment. Please let me know your suggestion.

Read more: Which one is a good long term investment stock - Is it Equity or Mortgage based REIT stock?

Is 4.5% a good rate for a 30 year fixed mortgage?

Is 4.5% a good rate for a 30 year fixed mortgage?

Read more: Is 4.5% a good rate for a 30 year fixed mortgage?

What is my best strategy for turning this life around (see details inside)?

I'm 32 years old. I've been married for 10 years. I never attended college and my parents don't own a business for me to take over. I have 2 children (12 and 8). I had a 401k but I had to cash it out to pay off our credit cards when the credit card were too high. My wife and I make a combined income of $82k but we pay $20k of that to childcare and $12k of that for our mortgage (which practically eliminates my salary). We have no money in the savings, no money in bonds or in mutual/hedge funds, no money in the stock market, and we don't own any land (yet - mortgage is still being paid down). My children do not have college money set aside and we are unable to pay for a higher quality education (private school).

Since I've never attended college, and I've never attended a trade school, is my life "over" before it even started? At this point I'm not going to be as "rich" as I could have not starting a family and not owning a house so young, but what can I do with this life (assuming I keep my health)?
Added (1). Oh, and my wife owes $23k for getting her associate's degree and my son needed braces so we owe $3k for that. We also have $4k in credit card debt but that is 0% interest for a while.

Basically, my wife and I lived our whole life in just 10 years. And now we're trying to pay it all off.
Added (2). Skills? I am good at math, good with computers (currently an IT professional), I used to be a manager of a retailer, and I am good with kids (not people though, just kids).

I really don't have a passion. As most boys growing up in the 90's, my passion was movies and video games. Not a whole lot of money in that field…
Added (3). Is a 30 year fixed mortgage at 4.235% a good mortgage rate?

Read more: What is my best strategy for turning this life around (see details inside)?

Does anything seem wrong with the Bank of America settlement?

Personal responsibility plays no part in it. I have a B of A home loan--I'm 2.5 years ahead on a 15 year note. A fellow down the street from me bought a 300,000 dollar house with nothing down and he makes 42,000 a year- he has a B of A loan as well. I've talked to him--he knew he could afford the house payments when he bought the place--but it was a "nicer house than I could rent". Of course--if you are financially responsible and keep current or pay ahead on your mortgage--lol--but if you are irresponsible and game the system you get part of the loan forgiven and absurdly low interest rates. While we need to ensure banks don't game people--why do we reward people who game the system with all these "
breaks".

Read more: Does anything seem wrong with the Bank of America settlement?

When buying a house, how much should I have in savings after I pay the down payment?

Hi all. I'm 22 and have around 30k in savings. I'd like to buy a house in a few years, and in my area, 30k is enough for a 20% down payment on a great starter home. I know it's important to not spend all of my money on a down payment, but I'm looking for opinions on how much extra money I should save before I buy. 10k? The traditional "six months of bills" rule? Something else?

I don't want to talk to a realtor or financial planner until I'm much closer to being ready to buy, so I would appreciate any opinions. I love to plan ahead!

Also--I've been keeping all of my bank statements and pay stubs in a binder since I was hired at my FT job in March. Will a mortgage lender want to see so much detail, or am I wasting my time? Thank you!

Read more: When buying a house, how much should I have in savings after I pay the down payment?

Does anyone know what the percentage of new home loans that are FHA vs conventional?

Does anyone know what the percentage of new home loans that are FHA vs conventional?

Read more: Does anyone know what the percentage of new home loans that are FHA vs conventional?

Can i get a $100k Mortgage for a $50K dollar home?

Can i get a $100k Mortgage for a $50K dollar home?
Added (1). I have been looking at homes and i'm considering getting one around the 50k dollar range. Looking at what most banks that i want to work with offer it is a better deal to get a 100k dollar loan because of interest etc. I can't afford a 100k dollar home/loan. Unless i could take that other 50k and knock out all my existing debt and only have my house payment. Is that even an option? THANKS

Read more: Can i get a $100k Mortgage for a $50K dollar home?

Could I win a small claims case because of this? (Uk)?

I was added to my ex partners mortgage when I moved in. We then had a mutual separation and he asked if he could keep the flat and take responsibility for it (mortgage company wouldn't take my name of the mortgage). I said yes as I trusted him. I lost touch with him as his new partner was threatening towards me. I found out about a year ago that he had stopped paying the mortgage and the flat was being repossessed. I contacted him and he said he had money problems and then changed his number. I have now been sent a short full amount of 2,400 to pay the mortgage company (the full amount so he has to pay nothing). I have texts from him that prove I knew nothing about the issues until it was to late and that he had full control over the flat. Would a court let me claim the money back from him?

Read more: Could I win a small claims case because of this? (Uk)?

Can a mortgage lender deny release of property to avoid foreclosure?

And if so, what are some possible reasons?

Read more: Can a mortgage lender deny release of property to avoid foreclosure?

How does a bank make money only charging 3% on mortgage rates?

I mean, inflation is like over 3%, so how is it possible for a bank to make money at such a low rate?

Read more: How does a bank make money only charging 3% on mortgage rates?

Husband choosing family over his wife and kids?

He wanted to have a family of his own but we ended up selling our home and moving in with his family to help them make ends meet. I must admit, I feel they resent our two children and myself. Not my husband, because he is helping them pay for their home but because I refuse to put on a phony smile and pretend I'm happy to be living in almost poverty. Yes, this home that they brought has them bankrupt and if it weren't for US helping them, it would belong to a bank. First, my two boys are growing kids in school and need a space to play, they want them to just tiptoe around the house and be like two quiet mice. When I started working for the HR department at my current job, my extra hours made it impossible for me to pick up my two boys from school or day camp and my husband couldn't do it because he has a 2nd job. My MIL was picking them up and apparently she has favored one over the other which is also making living situation even stranger. I can honestly say that I am not happy with my life. Here, I get married to a man, but a home, have two kids with him and BAM his parents aren't working anymore so it's OUR or HIS problem to help them with an atrocious mortgage. We are living like rats, as the only thing that separates us are a large master suite with a curtain. One side, my boys' bunkbed and our queen bed. I wanna leave so bad but I know my DH needs me. He is emotionally drained and I fear him choosing his parents over us. He is too busy to even spend time with us.

Read more: Husband choosing family over his wife and kids?

What's better? Paying off a 30 year mortgage in 15 years or a 15 year mortgage?

What's better? Paying off a 30 year mortgage in 15 years or a 15 year mortgage?

Read more: What's better? Paying off a 30 year mortgage in 15 years or a 15 year mortgage?

How long can I not pay my mortgage?

I live in Puerto Rico. I bought a house here and recently my mortgage was sold by a local bank to a company in Utah. I just lost my job and the economy is so bad here it may take several months (or longer even) for me to find another. I am going to fall behind in my mortgage payments, I know this already, but I'm wondering how long I can get away without paying before they start foreclosure. The house would not be an easy sell even for a local company as it is in fairly bad shape and not located in a desirable location. Any advice would be greatly appreciated!

Read more: How long can I not pay my mortgage?

Is it worth it to move to Pennsylvania? Will I still have to be a nurse?

My parents think it's a good idea to move to Pennsylvania (Bethlehem) from New York for the following reasons:
-lower tax
-they think people out of NY are nicer
-slower pace of life
-cheaper homes
-my mom wouldn't have to work anymore (she hates her job)

We just moved 3 years ago to a different town in NY for the same reasons but nothing materialized mainly because my parents bought a house that cost more than their old home and with a higher tax than the town we used to live in- they regretted this decision.

At first I thought it was a bad idea but now I'm warming up to it because it's not like I have any strong bonds with the kids I go to school with since I met them 3 years ago. Also I don't think I'll have to be a nurse since my parents won't need me to support them immediately since the mortgage and tax is low.

I don't want to be a nurse but my parents say that's the only secure job that's in demand these days. I'd rather be an accountant, dentist, pharmacist, web developer, computer systems analyst and software developer. But is this viable? Please Help!

Read more: Is it worth it to move to Pennsylvania? Will I still have to be a nurse?

Are there any easy simple basics for stock broking and mortgage broking?

Are there any easy simple basics for stock broking and mortgage broking?
Added (1). I am a complete beginner and I'm really interested in the broking and financial industry, any sites?
Added (2). and I'm thinking of taking this serious.

Read more: Are there any easy simple basics for stock broking and mortgage broking?

Is there any financial help i can get?

OK, this is a long one because you need to understand my financial situation if anyone can help me.
So i'm 27 i'm currently pregnant with my first child due 27th September, I'm married and live with my husband in our house which we own so we have a monthly mortgage and he is self employed.
My issue is this, I come from a well paid job where i have earned around £20K per year, however, this company will only pay 6 weeks at 90% pay when my maternity will reduce to statuary - £138 per week, almost £900 per month DECREASE in income, and as i've just found out i believe i will also be taxed on this amount.
My husband is self employed, his income is not dependable, his books show good earnings for the past couple of years around £24K but he can go for several weeks with no work which means he does not earn a penny e.g. We can guarantee he will not work for 2 weeks over christmas.
I've has brief look and it seems all we will be entitled to once the baby is born is £20 per week child benefit, we have tried to save as much as we can to cover our monthly bills whilst i am on Maternity which stack up at arounf £1,000 per month - IS there any additional help we might be entitled to at all?

It seems so unfair that a couple who have worked and contributed to the system all their lives and we cannot get any help when we need it the most! :-(

Read more: Is there any financial help i can get?

I want to start a atv business, what cost will I have to cover?

I want to start a atv / snowmobile business in canada on a 93 acre land, what cost would I have to consider, such as mortgages and what not, excluding the land cost and atv and equipment cost, a roughy estimate would be great!

Read more: I want to start a atv business, what cost will I have to cover?

What to do when inheriting a property with a Reverse Mortgage?

My cousin and I are set to inherit a house from my Uncle. He has informed us, however, that he took a reverse mortgage on the home, which was previously paid off in full. As heirs, how will this affect us when the house becomes ours? What if we plan to keep the house? It's a multi-family home in Queens, so in our eyes, it's a profitable rental for years to come. What's our best option here?

Read more: What to do when inheriting a property with a Reverse Mortgage?

Are pre-payment penalties common with today's mortgages?

I'm planning to buy my first house in Texas in the next year and trying to determine how conservative I should be with my down payment. My worst case scenario includes paying out of pocket closing costs and appliances (plus maintaining an emergency fund and paying the initial costs of moving). Since my down payment will be less than 20% and I believe PPI will apply, I'm thinking of just putting 10% down. I'd rather underestimate and make additional payments after a few months - but that only benefits me if pre-payment penalties do not apply to the mortgage. Are they common?

Read more: Are pre-payment penalties common with today's mortgages?

To pay off debt or use money for down payment?

We sold our house to pay off debts and closing date is today (Aug. 20th). We will be living with my in-laws for the time being, as I have had to quit my job to be home with my daughter due to medical needs. I have two questions. Firstly, what is your best suggestion to investing $60,000-$80,000 while we are living with our in-laws until we find our next house (obviously trying to find something that I can consumer debt such as Line of Credit and Credit Cards but will not be paying of 0% interest car loan. However I am unsure if I should be paying off my OSAP Loan. It is roughly $20,000 and I pay $269/month. I don't know which is better. Freeing up the $269 to use towards a future mortgage payment, but having a smaller down payment OR having a larger down payment but still having the $269/month debt payment. We will have roughly $114,000 net from our house sale. $20,000 in Line of Credit and $6000 in credit card debt. My husband makes $56,900 annually. Based on my previous house I am assuming our next house will have roughly $3000 annual property tax, $50/month water, $80-100 hydro and $100-150 gas bills. Our car payment is $280/month (insurance is $170/month). Hope that is enough information but if not please feel free to contact me. Thank you so much for any help you can offer.
Added (1). Error Noted***…(obviously trying to find something that I can have access to without penalty while earning the highest possible return). Secondly we will be paying off consumer debt such as Line of Credit…

Read more: To pay off debt or use money for down payment?

Switching banks at the end of mortgage term?

My mortgage term of two years is coming to end in about two months with my current bank. Another bank is offering better rate than my bank. I was wondering if there is any switch out fees or lawyer fees I will have to pay if I switch banks.

Read more: Switching banks at the end of mortgage term?

Tax: I am a low income earner, do I need to do a self assessment?

Hello!

I currently only work a few hours a week and therefore don't need to pay tax.

I don't know much about taxation but I suspect that even though I know I don't need to pay tax, the HMRC might need to know my status.

How do I officially declare my status to them?

(I may want a mortgage in the future and I have been told that gaps in my record would work against me)

Thanks!

David

Read more: Tax: I am a low income earner, do I need to do a self assessment?

Just got a mortgage and cannot afford my car now will this put a lien on my house?

My grandmother just passed away and we refinanced the home in both mine and my husbands name. Now we cannot afford our car payment and we tried selling it but are 8000 over of what all of our offers are. Our only real choice is to voluntary surrender the vehicle as we don't want an actual repo to happen. Will the bank in this case put a lien on our home or anything else in this case or is our home not effected in this matter

Read more: Just got a mortgage and cannot afford my car now will this put a lien on my house?

Around how much capital should I save before investing in or buying a home?

I have heard a great deal about FHA loans but am still unclear on how exactly that specific process works and if it has drawbacks or negative aspects that go along with it.

Me and my wife have been looking at a lot that is currently listed at property value $397,000.00, estimated mortgage rate around $1,359.00 a month, take it or leave it that is the Zillow estimate. We live in Northern California (well, Folsom which is around Sacramento) and are relocating from San Mateo where prices are just getting out of hand. I am wondering, me and my wife have a combined income of $75,000.00 more likely 76, 77 but that's without appx. Would this be a bad time to look at purchasing a home that is worth around 400k and will banks even consider approving? This my first time buying a home so any advice is welcome.

Thanks for your time,

- Mike

Read more: Around how much capital should I save before investing in or buying a home?

Changing from Residential mortgage to a Buy to Let one in the UK?

Changing from Residential mortgage to a Buy to Let one in the UK?
Added (1). My partner and I are going abroad and would like to rent out our home in the UK.

Wjen you change from a residential mortgage to a buy to let one in the UK do you have to put another deposit down?

What happens to the deposit I pit down to get the residential mortgage in the first place?

Read more: Changing from Residential mortgage to a Buy to Let one in the UK?

How is it legal for Freddie Mac and Fannie Mae to operate?

How is it legal for banks to sell mortgages to fannie or freddie without an assignment of mortgage or without telling the actual homeowner. Shouldn't the borrower know who they are paying? Plus, why would banks like Chase for example need to use this option when they are worth 14 billion plus? They could practically give everyone a loan! How is this legal in terms of foreclosure if say JP Morgan Chase says the homeowner hasn't paid. Ok fine but, don't they no longer own the note if fannie or freddie does. How is this legal?

Read more: How is it legal for Freddie Mac and Fannie Mae to operate?

What is the cheapest way of having your own semi-permanent living accommodation?

Hi people, I'm 21 and I desperately want to move out now, my plan was to save for a deposit and just move out when I can afford to buy somewhere on a mortgage, but financially that is going to be at least 2 years away for me still and I'm feeling a lot more urgent now due to various reasons. But in general I dislike the idea of renting as it feels like wasting a lot of hard earned money, so I just want to minimises costs.

the place can be absolutely any size, anywhere, and any condition; the only things I want are security (so not a bad area), a place to put my car safely.

I'm open to the ideas of living in static caravans or boats and things like that.

I'm also open to living with others, but only in a place not likely to attract the wrong people, for security and hygiene reasons.

Otherwise I am very open minded.

So with all options open I wonder if there is some way for around £150 a month or less? I mean come on there has to be some kind of ABSOLUTE minimal, first-foot-on-the-ladder kind of place? :)

Read more: What is the cheapest way of having your own semi-permanent living accommodation?

Do we qualify well for FHA? And can you use a grant with FHA?

Hi there. Any of you mortgage experts out there; we are meeting with a lender soon but I thought I'd ask here because why not. We have credit scores in 700s, we have three cc accounts and a car loan, all utilized well, low balances, and not a single late payment. We also make about 5900 a month gross. Are these factors generally most important for a mortgage? Does it look good?

Also, can you typically use a grant to pay your down payment? Arizona has a program for buyers where it will put 5% down that you don't have to pay back. We also plan on adding a few thousand of our own to that.

I hope this made sense, again, we will be meeting with someone, but I'm anxious nervous excited and full of questions!:) thanks for any answers in advance.

Read more: Do we qualify well for FHA? And can you use a grant with FHA?

When is a good time to refinance and when is a good time NOT to refinance?

I'm 22 years old and I'm looking into buying a $95,000 house. After a 20% down payment the mortgage loan would be for $76,000. I wanted to get a 15 year fixed rate mortgage so I can pay it off sooner and pay less interest, but I don't think I can comfortably afford it, it would be around $700 per month including the home insurance and property taxes in the mortgage and total interest over the loan would be about $19,000. On the other hand if I got a 30 year fixed rate mortgage it would be about $533 per month including the home insurance and property taxes and total interest over the loan would be about $58,000.

Process:
1. I was thinking I could get the 30 year fixed rate and keep it for 5 years and pay $533 per month which would bring the mortgage down to $53,560.

2. After the 5 years I would refinance to a 15 year on the $53,560 loan which would be about $535 per month. (Assuming rates don't jump to high in the next 5 years)

Results:
1. I would only have to pay around $25,000 in interest instead of $58,000 interest on a 30 year fixed loan.
.
2. My payments would keep at a steady $530-$540ish per month throughout both mortgage.

3. I get the house paid off in 20 years instead of 30 years.

Ideally is this realistic? I have never bought a house or refinanced but if you have any history or advice on this it is greatly appreciated. Also what's the min/max I'd have to pay to refinance approximately? Thanks.

Read more: When is a good time to refinance and when is a good time NOT to refinance?

How hard would it be for me to get a mortgage loan?

My wife and I just got married a few months ago and are looking to buy a house in the state of NC. Together, we make about $90,000 a year in income. (I make $80,000 and she brings in $10,000 part time). However, I have a bankruptcy that was discharged two years ago due to a previous divorce and my credit score right now is around a 650. Though the bankruptcy has been discharged, I know it will still show up on my credit for many years. My wife has good credit (her score is in the 700s). How hard will it be for us to get a mortgage loan?

Read more: How hard would it be for me to get a mortgage loan?

When should we start looking for a home?

My husband and I want to be in the home physically by February 2015. When should we get serious about looking for a home?

My realtor says it's way too early to start looking and besides, we only have $6,000 in savings and we're going for a Pennsylvania state loan that only requires you to put down 3% for the down payment. We're looking to buy a $200,000 home. Should we not being going to see homes right now?

Read more: When should we start looking for a home?

About paying extra principal on mortgage payment every month on 30yr at 4.16 percent, new home owners?

My wife and I bought a house last year and were told that putting the extra principal like $100 on top on mortgage payment is not good or waste of money if one day we want to sell the house and just make the mortgage payment only, please explain this in simple terms? I know it makes since if we stay in the house but also if we keep the house we dont save much on interest; but, this if confusing to us, please explain? We bought the house for 115k and it was worth 120k but put the closing cost 5k in mortgage so we pay 120k mortgage.

Read more: About paying extra principal on mortgage payment every month on 30yr at 4.16 percent, new home owners?

How big would your income need to be ideally to buy a house worth?

£400,000?
£500,000?
And with how long a mortgage?

Thanks in advance

Read more: How big would your income need to be ideally to buy a house worth?

Why aren't rent or utilities considered in determining a credit rating?

Why aren't rent or utilities considered in determining a credit rating?

Read more: Why aren't rent or utilities considered in determining a credit rating?

Legal situation on Divorce in London for family?

I'm asking about a situation my mother has found herself in, she is 46 and married to my 49 year old father who is an alcoholic, he has relapsed from a previous drinking problem and since April has been binging at weekends and recently got a drink-drive ban for two years.

my mother earns about 1/4 of my father's salary (as he has a top city job) and myself and my mother have recently discussed the possibility of divorcing my father due to his unwillingness to stop drinking (not going to alcoholics anonymous or receive medical help either).

In court, I'd like to know whether my mum could try to keep the house (about £70,000 left on mortgage) in any separation on the 3 grounds:

) Husband is alcoholic, has conviction to prove it

2) Mum will take care of my 17 year old sister, who will be doing her final year of A-levels, and myself (20 years old doing medicine at University)

3) She will need a house for her mother (my grandma) to live in, she has lived with us for the last 4-5 years and in the event of divorce will want to live with my mother.

Myself and my sister are willing to testify at any hearing about his drunkenness and how it makes it impossible to hold together a family life.

Read more: Legal situation on Divorce in London for family?

Can you put a house in someone else's name whilst remaining responsible for the mortgage payments?

Long story short - I want to go into property development with some family members and I understand that if you renovate and sell a house that isn't your main residence you'll have to pay Capital Gains Tax and such.

The idea is to put the property to be developed in my name because I don't currently own any property. This would be bough outright for cash - no mortgage, and as it would be my main residence we would avoid having to pay CGT when it gets sold.

I also want to get a house of my own to live in for which a mortgage will be required. Can I get the mortgage in my name and be responsible for the repayments but have the house in my partners name, thus allowing me to have the other properties to be developed in my name and as my primary residence?

Is this possible and is it legal? Please no answers about being able to trust my partner etc. That's a separate topic. I'm only interested in the legal aspect of the property ownership.

Read more: Can you put a house in someone else's name whilst remaining responsible for the mortgage payments?

Buying a second home in a different state? - 1

Buying a second home in a different state?
1) which state is cheaper to buy a second vacation condo New Hampshire or New Jersey
2) how many years usually of having your first job could one be able to buy a second vacation condo
3) how could you put a down payment for getting a condo
4) does doing a down payment make the price of buying the condo and mortgage cheaper

Read more: Buying a second home in a different state? - 1

What is the postal mailing address for the main branch of the Navy Federal Credit Union?

What is the postal mailing address for the main branch of the Navy Federal Credit Union?

Read more: What is the postal mailing address for the main branch of the Navy Federal Credit Union?

Buying a second home in a different state?

1) which state is cheaper to buy a second vacation condo New Hampshire or New Jersey
2) how many years usually of having your first job could one be able to buy a second vacation condo
3) how could you put a down payment for getting a condo
4) does doing a down payment make the price of buying the condo and mortgage cheaper

Read more: Buying a second home in a different state?

Why my husband gave suddenly his first house to my daughter and our son?

Since we have relationship problem my husband and I ; he decided to write down as gift to my daughter and my young son his house he bought in 2002 before we married and I surprised myself because I just knew it the day he took me to see the solicitor.
I was wondering why he did that? Because he was afraid if I am divorcing him after his infidelity I discovered few weeks ago maybe I can get one of his house. We have another house still in a mortgage and this he bought after we married.
He told me many of times I am not entitled for everything in house here in uk because he bought me a small house in my country 10 years ago and I am worry for my situation.

Read more: Why my husband gave suddenly his first house to my daughter and our son?

Getting a new mortgage on a house that is paid off? VA loan?

My home is paid off free and clear and I'd like to cash out refinance (Not quite sure of the correct term on getting a cash lump sum new mortgage on a paid off house) on it in order to pay off some high interest debt and do some much needed repairs. I'm looking to cash out nearly the entire value of my home and as I understand you can get 100% of the appraised value of your home with a VA refinance.

Is this possible through the VA program? Or is it only for new purchases or refinances of existing mortgages?
Added (1). I AM eligible for a VA loan, just to be clear on that.

Read more: Getting a new mortgage on a house that is paid off? VA loan?

Can two offers on a house be the same and both be accepted?

Hello,
I was wondering if anyone could help me, me and my partner recently made an offer on a bungalow and it was accepted. We were asked to come in to the agency to sort out a mortgage, today we have gone and got the mortgage sorted so we are now all clear to go. But the estate agent has today informed us that somebody had come in with the same offer as us and it has been accepted also. They have not yet been in to discuss about there mortgage yet. I wanted to know whether they can actually do this? Seeing as we offered, got accepted, got our mortgage all sorted first? The estate agent has said that it will be down to the vendor to choose between one of us but this does not seem fair at all seeing as we are all ready to go and get the papers signed!

Thanks

Read more: Can two offers on a house be the same and both be accepted?

I currently have an fha home loan. I would like to purchase another house?

I have lived in my current home for 8 months and would like to move into another and rent mine out. My income qualifies for two home loans but can I get a usda loan or have to go conventional?

Read more: I currently have an fha home loan. I would like to purchase another house?

Can you buy a land lot and then a modular home to put on it for one price?

For my first home id like to get a prefabricated home. The only issue is i dont own any land. If i go to my bank for a mortgage, can i ask to have my land and home made into one payment a month?

Read more: Can you buy a land lot and then a modular home to put on it for one price?

What do Food Banks do with your personal information?

When you go to a Food Bank, you need photo ID of everyone in your household, Birth Certificates, Social Security Number Cards, Rental Lease, Utility Bills, Benefit Verification Letters, Benefit Cards, etc…

Just wondering… WHAT DO THEY DO WITH All THAT INFORMATION?!

I mean, it takes more to get a can of beans than to get a home mortgage or a credit card. How is that possible?
Added (1). EDIT: Where in the Bible does Jesus say He needs your SSN, Driver License, Birth Certificate, etc. Before you get loaves and fishes?

Read more: What do Food Banks do with your personal information?

Electoral roll and credit report?

I have recently tried to apply for a joint mortgage with my partner but I failed the credit check, after setting up a noddle.co.uk account I found out the information says I'm not on the electoral roll. I rang my local council office they have confirmed that I am on the electoral roll and they have given me a pdeno code and a barcode to ipdate the information but who or where do I go to update my credit information?

Read more: Electoral roll and credit report?

Can a company run your credit without your consent?

Hello,

Yesterday I decided to look into buying a home for the first time.

I found a local mortgage company website and filled out their pre-qualification application. The application didn't say anything about running my credit report, I really just wanted to talk to somebody about the process of buying a home and getting a mortgage.

Today I had a hit on my credit report and it looks like my score dropped a couple points.

Also, I've received 2 different calls from telemarketers selling home security systems… I don't think it's a coincidence.

The TOS on the website it says my info is kept private and doesn't mention a credit check.

"Who has access to the information that I provide to USA Mortgage?
We use basic information which we collect to make your business relationship with USA Mortgage ® more productive and tailored to your individual preferences. We require specific additional information when you subscribe to some customized services, and we store that information in secure databases. We share some aggregate statistical data with companies from which we obtain analytical and marketing services or partnerships. These companies do not have access to our secure database, and we never provide these companies with access to any consumers' financial, personal, or loan-transaction information which we store on behalf of our business partners and affiliates. From time to time, we may be asked to disclose such information to third parties as part of a legal proceeding (i.e. Subpoenas and criminal investigations); in such cases, USA Mortgage will disclose personally identifiable information as required by law."

Did they have a right to run my credit report? Is there anything I should do about it?

Thanks!
Added (1). I didn't know they would run my credit just applying, without having spoken to them yet. Good thing I only applied to one site and not all 5 that I found and was considering, what if I did and all 5 had run inquiries on my credit!
Added (2). Thanks for the answer Ryan,

So now I can shop around and no matter how many mortgage companies check my credit, within the next 45 days, it will not hurt my score?

Also, shouldn't I have had to at least given them consent to run my credit? The application doesn't say anything at all about running my credit report. Yes, I know they will have to eventually I just figured that would come later, like after I've actually spoken to them.

Read more: Can a company run your credit without your consent?

How much is 1000+ acres in canada?

If someone were to buy 1000+ acres (starting at 1000) what would the general price be? (assuming this is tree'd land, not farmers field or livestock field and has no buildings on it, also it would not necessarily have to have road access.) And how much would you be expecting to pay in taxes after the land is payed off of its mortgage? I'd love to own some land for hunting and camping, and possibly trapping but am unsure as to how much this would cost. I was thinking of areas such as ontario and newfoundland. Additionaly would buying a large sum of property be feasible for someone whos young and had no savings? Would it take more then 10-20 years to pay off?

Read more: How much is 1000+ acres in canada?

What are some disadvantages of becoming a credit card authorized user?

HI, my dad has a 3,000 line credit, and in order to build credit I want to ask him to add me as an authorized user. However, in the past he had inconvenients paying his home mortgage which messed up his credit. Also, in the present, sometimes he has difficulties paying his medical bills which sometimes go to collection. Despise his credit is not so good in the present, he has 2 credit cards(each with a 3,000 credit). In terms of his credit cards payments he is always on time.
My question is, based on this context, would his bad credit from the past affect me if I become an authorized user?
Thanks for your insights.

Read more: What are some disadvantages of becoming a credit card authorized user?

What is required to get an apartment?

My boyfriend and I are planning on moving from west Texas to Allentown, Pennsylvania within the next year or so. It will both of our first times living on our own.
We're trying to get either an apartment or townhouse. He's currently working at Office Depot as the main tech making $25,000 a year. He's planning on asking to get transfered to the Office Depot in Allentown. As for me, I'm planning on getting a job at office depot, but I am kind of worried I wont get it because I have a vocal handicap. This goes for any other place I might apply to.
When we move do we need a mortgage to get an apartment? Do we need to get PA licenses? Anything else we should know? We are very uneducated with this sort of thing.
Yes we are saving up money.

Read more: What is required to get an apartment?

My bf wants to file bankruptcy?

We were talking yesterday and he said he was going to file bankruptcy. He's 23 and I knew he had some debts, but I guess he owes about 14k. Which I think sucks, but is manageable. I tried to make him see that and he said, "Look once you get a job then you'll know how hard it is to manage your finances." I don't want him to feel like I'm judging him, but I know it's a really bad move. I realize he made some mistakes, but I feel if he files bankruptcy he's going to make another one. Please help me understand if he is making the right choice and how I should talk to him.

Read more: My bf wants to file bankruptcy?

Debt of Separated Spouse at Death?

If a couple are completely separated (finances, et al), and everything they own is in their separate names (and a quit claim deed has already been filed on the home although both remain on the mortgage), and one party dies, can the other be held responsible for their debt?
Added (1). No divorce paperwork has been filed yet, however an informal separation agreement was signed (but not witnessed so I don't think it holds any weight for anything). They have been physically and financially separated for over 7 months.
Added (2). For the record, I'm fine paying the mortgage myself. I already am even though he's still on it. But he DOES have about $50k in credit card and medical debt in his name, and that's what I'm worried about.

Read more: Debt of Separated Spouse at Death?

Help im 22, have no credit and want to buy s housr. Can i?

I have had the same job for 3 years. However i will be transferring within the same company to a different location. Only problem is pay will be significantly less.
I have no credit as far as i know, been living with my mom. However i have 50,000 for a down payment. Worked my butt off since 18 for it. The houses im looking at are about 130k. I will be able to afford my mortgage payments.

Will any bank give me a loan with my work history and lack of credit?

Read more: Help im 22, have no credit and want to buy s housr. Can i?

Confused about mortgages for first time buyers?

Let's say I wanted to move into a 4 bed house worth 250000 for arguments sake.

I had 12500 which is 5% and the government put up 20% at 50000. Will a mortgage lender.lend me the rest?

Assume 25000 salary stable job with increasing salary year on year

Much appreciated

Read more: Confused about mortgages for first time buyers?

How early should I apply for a mortgage?

My boyfriend and I are planning from moving from West Texas to Allentown, Pennsylvania within the next year or so.
This will be both our first time ever living on our own and we are extremely uneducated with this sort of thing. We have no idea how or when to apply for a mortgage nor do we know how long it will take to get approved and it is stressing me out because I do not want us to struggle with this when we end up moving. How early should we apply for one and do you have any advice? Who do you recommend we apply with?
We're trying for an apartment or townhouse. The highest we will go is maybe a bit over $700 to maybe $800. I have no idea if that will have anything to do with applying for a mortgage.

Read more: How early should I apply for a mortgage?

What information mortgage lenders ask from hmrc for verification?

What information mortgage lenders ask from hmrc for verification?

Read more: What information mortgage lenders ask from hmrc for verification?

100% disabled VA, still got property tax bill?

My fiancé is rated 100% disabled through VA in NJ and is to be exempt from having to pay property taxes on a primary home as a benefit of being disabled, he just bought his first home and now got a property tax bill even though he is supposed to be exempt. He contacted lawyer and congressman and township but its up in the air now. I know if you don't pay prop taxes you're out of your house, but how could they put a veteran in this position with his first new home? Esp after he had to submit the info when he got the mortgage! Please give any insight or advice.

Read more: 100% disabled VA, still got property tax bill?

What are six financial institutions, their services, and if they're a car or home loan?

im not understanding this. It says "Imagine that you need both a car loan and home mortgage. Use the table below to decide which of the six types of lending institutions discussed would be most appropriate for each loan" then it gives me a table. Please help. Thanks

Read more: What are six financial institutions, their services, and if they're a car or home loan?

If I won 250mil, how could I stay rich?

Random thought, but if I were to say to win or be given 250 million dollars, and my first purchase was going to be a 20 million dollar home in the Hamptons with a mortgage of 28,000, after a few mortgage payments I am obviously going to be loosing money, so how would I stay rich, what would I have to invest in or do to never go broke? How do rich people stay rich or manage not to go broke?

Read more: If I won 250mil, how could I stay rich?

Money: How much do wealth and happiness correlate in your opinion?

Salary, debt, credit cards, loans, mortgage, investment - when talking about money there is lots of ground to cover. So tell us does wealth and happiness correlate?

Blog: http://bit.ly/1vOMEJn

Read more: Money: How much do wealth and happiness correlate in your opinion?

How much contribute when home isn't under my name?

My So and I are moving in together with plans to get married. We both picked the home and have equal say on decisions but he purchased it on his own putting a large downpayment. I'm coming in with my kid (from past marriage) who gets the same rights as his kid and a room to himself. I will pay 40% of the mortgage value and one bill. He will pay 60% of the mortgage cost and the rest of the bills. His salary is about 40% more. I want to contribute a fair amount. Does this sound fair? My name isn't on the title, we're getting married and I didn't contribute to the downpayment

Read more: How much contribute when home isn't under my name?

If a contract is considered illegal if the object of the contract is illegal?

If a contract is considered illegal if the object of the contract is illegal., then would an oral agreement be void if it was based on a fraudulent contract?

Example, A applies for a mortgage loan and lies on the application for more favorable terms. And enters into a partnership agreement with B to use B's money as consideration with promise of shared ownership. B discovers the fraud and wants to void the agreement as the legal object is illegal. Can B void the partnership agreement?

Read more: If a contract is considered illegal if the object of the contract is illegal?

How to get my neighbor to move?

I live in a nice neighborhood. I upkeep my house and do my lawns. This terrible neighbor moved in. He drives a pick up truck and is pure trash. I called the police over a dozen times because I hear him use foul language, but the police says that is "free speech". Also I can see that he drinks beer, so he's probably an alcoholic and a drunk. He has as many as 8 peoples over at a time. Too many I tell him! I tell him to get out of my neighborhood, but he says he has a right to stay there because he pays mortgage and taxes. That is not good enough! If he brings down my property value I will sue him! He can I get the police to see he is no good and arrest him so I do not have to deal with him.

Read more: How to get my neighbor to move?