Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities?

a. Net income, $332000
b. Depreciation reported on the income statement, $83400
c. Equipment purchased at a cost of $162800 and fully depreciated equipment costing $448-- was discarded, no salvage realized
d. The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty
e, 10,000 shares of common stock were issued at $20 for cash
f. Cash dividends declared and paid, $153600

Read more: Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities?

I think its totally right and fair that the rich stay rich and the poor stay poor!

Prople say life is unfair, the rich stay rich and the poor stay poor. Well lets look at WHY that is.
Lets start with young life. Too eager to live on their own, they go straight into renting and so throw their money down the drain. Where as the rich learn to walk before they can run, and save deposit for a mortgage.
At uni level, some chose to get into more student debt than needed and take gap years, trips around the world and spend like there's no tomoro. Credit card debts, car finance, etc.
Rich concentrate on their careers, sacrifice trips around the world, live sensibly and SAVE. This is sacrifice which will seve them well later in life.
And so the cycle begins. The poor interest on their debts. The rich have interest on their savings, equity on their homes. Rich stay rich. Poor stay poor. But its your own life choices and therefore your fault which one you end up in. Poor or rich.

Read more: I think its totally right and fair that the rich stay rich and the poor stay poor!

Can I afford a mortgage or should I just rent? Read my stats here please and help me decide

My FICO score states it is 626 but when I check Experian it's 589 I don't know which one lenders use. Also in my predicament making 13 an hour full time, should I just rent for now until I get a better job or would it be smarter to get a mortgage now and will I be approved for it if I have only like $4,000 down I can give.
Rent somewhere is offering $725/month all utilities included a studio.
What decision do I do?

Read more: Can I afford a mortgage or should I just rent? Read my stats here please and help me decide

Are people who take time out silly and niave?

I know of people who during university, take gap years, go backpacking around the world, year long holidays, take second degrees, etc.

My view of them is not the best. I think they are living in a fantasy world. They live on student debt and debts and just don't seem to get the idea that they need to work and earn money. They're holiday lifestyle results in them being laidened with huge debts, no savings, no mortgage or pension and frankly, extremley poor. Also, most of these people share extreme left wing views and believe that society and the govt ows them.

Surely you've seen these people? They need to get a job and start earing money. Time to grow up.

Read more: Are people who take time out silly and niave?

Money doesn't grow on trees? Unless you're a landlord?

Landlords continually raise rents without regard to the impact of the renters. Do landlords not realize that renters have their own bills to pay? Utilities do not go up, mortgage rates stay the same. Yet landlords raise rents all the time. Are landlords taking round the world cruises? Are they giving their 16 year old daughters Lexuses for birthdays? Why do landlords have to raise rents?

Read more: Money doesn't grow on trees? Unless you're a landlord?

How long can a lender dawdle before funding a mortgage refi after all the papers have been signed?

How long can a lender dawdle before funding a mortgage refi after all the papers have been signed?

Read more: How long can a lender dawdle before funding a mortgage refi after all the papers have been signed?

Just researchin g reverse mortgages

Just researchin g reverse mortgages

Read more: Just researchin g reverse mortgages

I feel so lost and stupid

I don't even know where to start. I'm 18, freshman in college, I feel so lost, stupid, useless. I've never had a job and i'm terrified of interviews since I have no social skills. I don't know what I want to do after college, If I even survive it. I picked biology as a major without even knowing what I want to do yet. I don't know simple things that people my age already know (like a what mortgage means, how to make a resume, how to apply to jobs etc.) I don't know why I'm writing this either. I just feel so lost and retarded… I don't think I'm fit for adulthood. I'm afraid to reach out to anyone, I feel like they'll just think I'm stupid. I feel like everyone has high expectations for you once you've reached 18. I don't feel 18, I feel 13. I don't even know why I'm writing this…

Read more: I feel so lost and stupid

I live in flushin ny how i et fha loan to buy house?

I live in flushin ny how i et fha loan to buy house?

Read more: I live in flushin ny how i et fha loan to buy house?

I got pre approved for an fha loan, but my house is not move in ready until 2 months?

I got pre approved for an fha loan, but my house is not move in ready until 2 months?

Read more: I got pre approved for an fha loan, but my house is not move in ready until 2 months?

If I'm looking to get a mortgage with out my wife on it and we jave 2 cars in our name. Do they both show up on me only or how what?

If I'm looking to get a mortgage with out my wife on it and we jave 2 cars in our name. Do they both show up on me only or how what?

Read more: If I'm looking to get a mortgage with out my wife on it and we jave 2 cars in our name. Do they both show up on me only or how what?

What information would a commercial mortgage lender need for pre-approval?

I'm purchasing multi-fam properties.

Thanks

Read more: What information would a commercial mortgage lender need for pre-approval?

Is it normal to hate living with your parents?

I really hate living with my parents. I love them dearly and they've given me a good life but they really annoy me and are so bossy and treat me like I'm 5 years old. I'm 2 months away from my 18th birthday and I'm working full time now and I pay my board but they still decide whether I can go out or not which is f**ed up.

My parents have been good to me so I feel like I'm being a brat when I say I hate living with them. Is this normal and ok to think this way though?

PS: I can't move out because that wouldn't work financially for me plus I want to help my parents with the mortgage

Read more: Is it normal to hate living with your parents?

Does having a reverse mortgage cause your home insurance to increase?

Does having a reverse mortgage cause your home insurance to increase?

Read more: Does having a reverse mortgage cause your home insurance to increase?

Why do so many people have a problem with pre-nups?

I have a mortgage which i've worked hard for and saved for over many, many years. If i were to get with someone who did not own a mortgage and had no life savings, i feel compelled to protect myself. I'm not a charity. Why is this such an issue for people to understand?

Read more: Why do so many people have a problem with pre-nups?

Can I sell a house with my and family name in it?

Last year me and my family bought a house solely off my income, i but me, my sister and my mom's name is on it, i pay for majority of everything in the home (mortgage, utilities, and repairs). When we closed, i came in with 7k, my mom had 3k and as for my sister $50. At this point, sometimes I feel like it was a huge mistake. I want out. Can get rid of this home even though both of their names are on it.

Read more: Can I sell a house with my and family name in it?

What opportunities does this present for you as a broker? (California Law)?

BASED ON CALIFORNIA LAW

You have a seller/client who is considering doing seller financing. The property has an existing mortgage which has a balance of $400,00.00. The FMV of the property is now $250,000.00. The existing mortgage has the traditional due on sale clause and the lender has indicated that they will not entertain a short sale.

What recommendations would you have for the seller/client as to how the transaction might be structured for a seller financed transaction? Now assume that you are the broker for the seller- what opportunities does this present for you as a broker?

I know this is unlikely to happen, but assuming this the case what are the pros and cons.

Read more: What opportunities does this present for you as a broker? (California Law)?

What should I do I'm falling in love with two careers!

I'm about more than half way done with my Real Estate Studies (self studying don't have a license yet…) but a friend of mine suggested I go into Mortgage Loans instead! That would also be okay since I have the book already.

Then… After my last relationship went sour… I became interested in Early Childhood Education…
Added (1). I would need 12 ECE units to be able to work in a day Care/Pre-school, Monetesory, etc!
Added (2). I don't have money for both (without financial aid)

Read more: What should I do I'm falling in love with two careers!

Does my credit score keep dropping if I don't have an installment loan?

So I just finished paying off my student loans last month and I was excited to see (what I had hoped) a bump up in my Fico score. I was unpleasantly surprised when the score actually dipped like 25 points. After doing some research apparently the credit score will go down when you finish a loan and have no other ones. That is precisely my case. I have no car, student, or mortgage loans. I have zero debt for now. My question is will the lack of an installment loan keep lowering my score every month or was that a one time hit?
Added (1). Update: Many answers are assuming I don't have a credit card. I've had a credit card that I have been paying off in full for more than 7 years. Never had a late payment on anything. The dip in the fico score was because I finished my student loan and since I didn't have any other installment loan (ex car, mortgage) it went down. Next month I will also not have an installment loan but I'll still pay off my credit card in full like I have for so long. Will the lack of a loan still make it go down?

Read more: Does my credit score keep dropping if I don't have an installment loan?

Will I have enough to pay rent or buy house at 19 old?

I go to school mon-Thursday and thinking working only weekends and get paid minimum wage rent is from 300+ in my area or can mortgage for 300+ if I have good credit. Currently live with my parents but think it's time to live on my own.
Added (1). I go to school mon-Thursday and thinking working only weekends and get paid minimum wage rent is from 300+ in my area or can mortgage for 300+ if I have good credit. Currently live with my parents but think it's time to live on my own. I got on credit so that's out

Read more: Will I have enough to pay rent or buy house at 19 old?

Mortgage company not reporting on time payments to credit bureau

I was currently in bankrupt chapter 13. Then my work situation changed. And I decided it was better to close my bankrupt case. So I worked out something with my mortgage company, with a lower interest rate. I have been current since October 2016. I keep checking my credit report, and my mortgage company still has it as "in bankrupt". I just called my mortgage company. And to they told me I would have to contact the credit bueau, and dispute it. My question is, right now it is not including the amount of the home as debt because it's listed as in bankrupt. If I get it corrected will my credit score go down or up. I know it will show as payments being made on time, but will the extra $90,000 mess with my debt ratio. I was wondering if a mortgage would count as something else. I'm trying to rebuild my credit, so I don't want my score dropping 100 points overnight.

Read more: Mortgage company not reporting on time payments to credit bureau

How can an outside person buy a share of a house that has no mortgage?

Three siblings own a house that is paid off and one of them wants out. I want to buy her share but I do not have that kind of money laying around. Do I take out a mortgage or what are my options?

Read more: How can an outside person buy a share of a house that has no mortgage?

I'm 33 and so far in life I've just been strange but don't know why?

I'm 33, female and am weird but don't know why. I have no friends and know that people reading this will dislike me I've never had a social life or friends to go out with. I've been drinking with people from my sports club (rambling club) about once per year. No one really knows me from there I'm very quiet despite going for over 10 years. I've never been good at socialising. I only had a serious boyfriend at age 28 he was age 57 (and criticised/was controlling). I don't like sex. I live with parents which I'm ashamed about but I contribute rent.

I'm saving up for a mortgage it's my plan to move when I can. I've not spoken to my dad for 15 years despite living in the same house since he hit me as a teenager. I don't really hold a grudge (though he is often quite nasty calling me etc) I'm just embarrassed to start talking and he has never approached me about the issue.

I felt very anxious and didn't make progress in life but then completed a degree in nursing in my early twenties. I decided I didn't want to do nursing so am now studying physiotherapy but struggling not academically but on placements. I think that everyone things I'm weird as I'm still single at my age with no kids plus I act strange(according to my mum) and very quiet according to most people. I've always enjoyed running and lifting weights so do have some passion but not for my career anymore. I don't want to quit as then I'l have nothing and won't have achieved anything in life. I've no idea what to do

Read more: I'm 33 and so far in life I've just been strange but don't know why?

Home loan delaying closing date, can they pay for the hotel/storage expenses?

We were set for closing in 2 days (Friday) and now the loan offer is telling my realtor that we need to extend the closing date because they have been "busy" with many other closings. I have not signed to extend the closing date as the realtor is saying new closing is on Wednesday and the loan officer is saying they don't know when it will close exactly. Loan officer is now saying that it was due me getting a FHA loan.

Additionally, we have to move out of our apartment on Monday and have no other place to go. Can the loan company be held liable to pay to hotel, storage, and moving staff?

Do we have time to change our home loan officer? I had placed a 2,000 deposit already.

(Nightmare of my first home buying experience with the realtor and Alterra Home Loan).

Read more: Home loan delaying closing date, can they pay for the hotel/storage expenses?

Can I inherit a house that had a mortgage taken out on it?

My grandma owns a home and she took a mortgage out on it to pay for an unexpected emergency. If she dies, can i inherit the responsibility of paying it off and keep house? I'm her only grandchild so i'm wondering

Read more: Can I inherit a house that had a mortgage taken out on it?

How early should we start seriously looking into buying a home?

We ve been considering buying a home for a while now--mostly because we have three animals and it's hard to find rentals that will let you have them and also because we hate the costs of moving every year and we re having bad luck with neighbors in apartment complexes. We re young, and this would be our first home together. We plan on staying in this home for at least five years as we build connections at our first jobs out of college, but do eventually want to move out of state when we feel we re ready for a family. So our lease on our apartment is up at the end of September, and we ve recently been preapproved for a 30yr fixed mortgage, but with the houses moving so fast in our area we re not sure when to start looking. Now, or later? Our pre-approval letter is good for 90 days. When should we put an offer on a house (if we find one we love) to be able to move into it if the banker says it ll take 2-4 weeks? We also can't break our lease early and don't want to do month to month after September, preferably.

Also, any tips would be helpful as we re not sure of what direction to go in next.
Added (1). We have a good credit sore (banker said it was in the top one percent of our age range), have a down-payment, stable jobs that we've had for almost 2 years and are pre-approved--we're just not sure how long the actual buying process is to know when to start looking.

Read more: How early should we start seriously looking into buying a home?

Count court judgement?

So I did some work for soemone, he wasn t happy and said he would take me to court. The court paper come through. I admitted fault and agreed to pay let s say £1200 in 4 monthly payments of £400 a month.

The guy has accepted this.

Because we made an agreement before a court hearing happened does this mean I won't get a ccj on my credit file?

Do we have an arrangement then if I fail the ccj comes in to force?

Please help as I'm hoping to get a mortgage next month.

Read more: Count court judgement?

Who is the Insurance Commissioner over Home Insurance? (Mortgage Insurance)?

Who is the Insurance Commissioner over Home Insurance? (Mortgage Insurance)?

Read more: Who is the Insurance Commissioner over Home Insurance? (Mortgage Insurance)?

Make a profit investing in a mountain cabin?

We like to vacation in the Smokies and always rent a cabin. One that we recently rented has been put on the market. It got me thinking that it might be a good investment - stay there a few weeks each year, then rent it out to pay off the mortgage and possibly pocket a small profit. Pigeon Forge seems like a good area for this. Anyone have any luck doing this or will it be a money pit?

Read more: Make a profit investing in a mountain cabin?

Would you say this couple will have to cut back on their old spending budget?

There's this couple and their names are Bob and Sue.

Bob and Sue both earn $55,000 each and they live in a 1-bedroom apartment and they travel a lot. They also eat out at least once per week and they have the best comcast xfinity package, iPhones, iPads, 2 cars with 7-year car Payments and $90,000 in combined school loans.
They spend equal to what comes in and so they had a $10,000 emergency fund 5 years ago and still do today. They balance budget.

Next year, Bob and Sue are having their first child. After that, Sue will quit her job and Bob will continue earning $55,000.

In order to make room for their future home with kid, Sue and Bob are moving into a 4-bedroom home with a mortgage that is around double their current monthly rent, and the $10,000 emergency fund wlll cover the house down payment and moving expenses of $4,000 will be charged to visa rewards credit card.

They will need furniture for the baby and plan to open a pottery barn card and estimate $15,000 in furniture purchases which they will pay off when they get money later

After the baby is born, Sue plans to use her free time to go back to school and pursue a degree in interior decorating which will cost roughly $150K and the plan is to obtain a second mortgage off the home to help cover tuition

While Bob works and Sue is in school, they will need to hire a full time nanny to watch the kids so Sue can study and Sue will need a Tutor to help with homework unless Bob cuts down hours still brings $40K

Read more: Would you say this couple will have to cut back on their old spending budget?

What's your credit rating?

I'm 22 and my credit rating is 630:-( I don't wanna get a mortgage yet, possibly when I'm 25 but I worry about this so much. I've got 5 positives and 2 negatives which is slowly starting to go. Will this make my CR go up a lot in the next 3 years? What should it be at my age? Thanks

Read more: What's your credit rating?

Is it smart to buy an investment property in Surprize/Glendale, AZ?

Greetings,

So I'm 25 and live in the Los Angeles area. I'm looking for a smart way to invest my hard earned money. Being that housing is very expensive here, I was exploring the idea of investing in a property in Arizona to build some equity to one day use for a home here in LA.

Is now a good time to buy out there? And is the rental market, compared to mortgage rates worth it?

Read more: Is it smart to buy an investment property in Surprize/Glendale, AZ?

Why are interest payments higher than principal at the beginning of mortgage?

Why are interest payments higher than principal at the beginning of mortgage? - 1

Read more: Why are interest payments higher than principal at the beginning of mortgage?

I'm buying a home with a fha Loan, I just got the house inspected and now I want to back out. My realtor says I have to give them 10 days

The seller has that time frame to tell me if they will make repairs. But I truly don't want it anymore, however, I'm not trying to get sued or lose my earnest money. Yes I admit I was not prepared for all this. I feel like its a lemon property and my realtor is just desperate for her commission

I've been looking since January and missed out on some good properties being picky. I had a different realtor in the beginning but decided to start working with my older cousin who is a realtor as well. Honestly the family made me feel guilty for not going with her.

I got frustrated and agreed to put a contract on a cute house that we saw that's in my price range, I'm also trying to get out of my current living situation, I'm miserable here! The house I put a contract on needs a lot of Major repairs. Not to mention the house is infested with stink bugs.

The house needs a new roof, water heater, toilet all needs to be updated. Other issues as well. I know I can't back out of contracts just because I change my mind but the inspection went horrible.

I noticed things I didn't see before. I fell in love with the neighborhood its quiet on a cul de sec just like I wanted.

My realtor just sent a Post Inspection Agreement and wants me to sign it. If I sign it am I adding more fuel to the fire knowing I don't want it. The 10 days will be up next Monday for the seller to agree to repairs.

Considering contacting an attorney because it seems like my relative just wanted me to buy anything

Read more: I'm buying a home with a fha Loan, I just got the house inspected and now I want to back out. My realtor says I have to give them 10 days

Should I buy a 60k house and rent it out?

There's this 2 bedrooms and 1.5 baths. In the kinda poorer part of town. So some white trash people live there, in the neighborhood. There's this home for $59,000 for sale. Estimated mortgage for a little over $200 a month (about 20 years to pay off). Should I get the house fox it up a little a rent it out? How much should I rent it out?

Read more: Should I buy a 60k house and rent it out?

Work hours getting cut from 40 hours to 24-32 hours. Will this affect my close?

I have been working full-time for the past two years but my current construction project is winding down and they only need me every other day. My co borrower makes 50000 and I make on average 75000 per year. Our mortgage is 209000. Conventional loan with 5 down. Credit score around 750. Net worth is in the positive. The slow down at work is only temporary as our next project is on the horizon. Will the underwriter flag this? The slow down will be only temporary but it's gonna happen for the next couple weeks and I close in a couple weeks? Bad timing I guess

Read more: Work hours getting cut from 40 hours to 24-32 hours. Will this affect my close?

How to raise capital for a mortgage company start-up?

Do banks lend out money for this type of business venture?

Read more: How to raise capital for a mortgage company start-up?

Can I refinance my mortgage and roll all my debt with it?

I have a house that is around 400,000 market value, I have a 30,000 home equity loan I'm trying yo refinance my house and roll alm my debt which is around 55,000 I owe 240,000 on my house currently is that something that can be done thank you.

Read more: Can I refinance my mortgage and roll all my debt with it?

Should I tell my mortgage company if I'm going to quit my job, travel for a year and let my apartment out?

I'm worried they will put me on a much higher buy to let rate or even recall the mortgage. If I don't tell them I don't see how they could find out? I'm supposed to tell them but I might just risk it. Thoughts?

Read more: Should I tell my mortgage company if I'm going to quit my job, travel for a year and let my apartment out?

What does it mean to mortgage your home, or to put your home up for mortgage?

What does it mean to mortgage your home, or to put your home up for mortgage? - 1

Read more: What does it mean to mortgage your home, or to put your home up for mortgage?

Is there any bank or mortgage company that accepts special power of attorney selling a home?

Is there any bank or mortgage company that accepts special power of attorney selling a home?

Read more: Is there any bank or mortgage company that accepts special power of attorney selling a home?

Residential Home on Commercial Zone?

Several years ago when my credit was poor my parents bought my home with the intention that I would eventually buy it from them/take over the mortgage when my credit improved.

In the interim, several things lead to a decision to try to sell the house as a commercial property and so the zoning was changed to commercial.

That deal fell through and now I'm stuck with a house on a commercial zone - there's no chance of changing the zone back - and the bank is being particularly touchy about giving me a mortgage for a house on a commercial property.

My question is - if I wanted to buy the house, can I get a mortgage for a house on commercial zone without a lot of hooplah

OR

Will this house be impossible to sell as a house because of it's zoning?
Added (1). The deal to sell it fell through but the zoning change was a separate part of that - the zone was changed in order to sell it and several other properties along the same block. Now we're all stuck with commercially zoned property. It wasn't my bright idea to change the zones prior to having the deal in place, trust me.

Read more: Residential Home on Commercial Zone?

Can a bank destroy all evidence of a ongoing mortgage?

Can a bank destroy all evidence of a ongoing mortgage?

Read more: Can a bank destroy all evidence of a ongoing mortgage?

What is a subordination fee in a mortgage?

What is a subordination fee in a mortgage?

Read more: What is a subordination fee in a mortgage?

Approved for a home loan but can't get home please help we want our money back its not our fault they were not educated?

MY WIFE IS first time via Military we got approved paid 350 inspection 450 appraisal and 1000 down our broker said our closing is 1st june we told him we had issues my wife ex filled 2015 taxes as head of house hold when she wasnt my wiife didn't know until this year when we tried to file 2016 we called irs they said file your 2016 and 2015 together and send it off by mailing and so we did in that process we told the mortgage company we can't get no transcript for 2015 we're afraid we won't be able to get the home he t said don't worry i will see if i can get that for you guys so we were happy anywho while we're waiting on his reply he had us pay all the above i mentioned we didn't hear from him at all so we called our realtor who was a ***** and said wow i'm just now hear all this stuff that is happening so we call him and ask when will we get keys since closing is first he said we can't get the home without transcript we said we told you this other wise we wouldnt pay you all heres is what i want to know can we get out money back first of all he pulled appraisal out of our account and next thing week later it appeared in our account again and then it was gone so how can we get money back if its not our fault when we mentioned to him about 2015 taxes the APPRAISAL we signed said " I UNDERSTAND THE ABOVE FEE ARE NONREFUNDABLE. THE AUTHORIZATION IS GOOD FOR 60 DAYS FROM THE SIGNATURE DATED BELOW AND IS ONLY FOR THE FEES LISTED THE DATE WAS 04/07/2017 IT HAS NOT BEEN 60 DAYS

Read more: Approved for a home loan but can't get home please help we want our money back its not our fault they were not educated?

What is the difference between a mortgage broker and a mortgage lender?

What is the difference between a mortgage broker and a mortgage lender? - 1

Read more: What is the difference between a mortgage broker and a mortgage lender?

How can another Bank or Mortgage Company obtain a Verification of Employment for a current Quicken Employee? I have been waiting 10 days

How can another Bank or Mortgage Company obtain a Verification of Employment for a current Quicken Employee? I have been waiting 10 days

Read more: How can another Bank or Mortgage Company obtain a Verification of Employment for a current Quicken Employee? I have been waiting 10 days

Closing on house in a month. Getting temporarily laid off for a couple weeks. Should I be worried about not getting approved for my mortgage?

taking a loan out for 209,000$ . I make 75000$ a year on average and my fiancé makes 50000$. I work construction which as all knows work is off an on. I've haven't been laid off in two years but now talks of lay-offs and hours being cut back are a real scenario. It's been stressful as knowing how strict guidelines can be for getting approved for a mortgage. Here are some details that can help you give me some feedback

- both credit scores over 750
-debt to income ratio is good, net worth is 2,000
-only been laid off once in the past two years
-boss said he can write a letter stating I'll be back to work

Should I really be worrying?

Read more: Closing on house in a month. Getting temporarily laid off for a couple weeks. Should I be worried about not getting approved for my mortgage?

Closing on house, work hours getting temporarily cut. Should I be worried about getting mortgage approved?

Closing on house, work hours getting temporarily cut. Should I be worried about getting mortgage approved? - 1

Read more: Closing on house, work hours getting temporarily cut. Should I be worried about getting mortgage approved?

Do I need to tell my mortgage company if I go travelling?

I want to go travelling for a year but I called my mortgage company and they said they would need to convert my mortgage to a much higher rate. I'm renting the flat for the year to cover the mortgage and will be back in it when I return. Shall I just keep it quiet? Can they find out somehow? What happens if they do find out?

Read more: Do I need to tell my mortgage company if I go travelling?

Renting out and buildings insurance UK?

Do I have to have a special landlords insurance If my sister rents my house. I have no mortgage. I've always had just the basic buildings.I'm not sure weather to transfer or not. It's all very confusing.

Read more: Renting out and buildings insurance UK?

My boss is referring his wife, a property agent, to me, I'd prefer not to use, what would you do?

I moved to a smaller city about two months ago for a better job.

My boss helped me to find a room for me to rent through his relative.
He's been living in this small city for over 40 years, he knows a lot of people in this small city.

While my wife and kids are still in Vancouver, By the time my family moved in here, we need more room or bigger house, and we're not used to rent.

So we're looking for a house now.
Coincidentally, the house is which room I rent is on the market now.

Been looking around for some other comparison, I fall in love with the house I'm living in.
It also meets my requirements, 3 beds + 2 bath up, 2 bed and 1 bath down as a mortgage helper.

Having known I'm looking for a house, my boss refers his wife, a property agent as a buyer agent. I feel a bit funny to use an agent to buy a house which I'm living in now. The buyer staying together with the seller.

One time, my boss wife came to the office and met me, she remind me that if I were looking for a house, she is there to help me.

I just don't feel good to 'bypass' her. It's also my boss who introduce me to the owner of the house I'm living in now. On the other side, I don't really need to use an agent as a buyer.

If you were me, what would you do?
Any opinion would be gladly appreciated.

Thank you

Read more: My boss is referring his wife, a property agent, to me, I'd prefer not to use, what would you do?

What is the alphabetical construction of your human dignity?

I was told it means ''What is your name?''. Is it true? Or does it have a different meaning?

Read more: What is the alphabetical construction of your human dignity?

My mortgage payment i have a late fee due with payment if i don't pay late fee is that a partial payment?

My mortgage payment i have a late fee due with payment if i don't pay late fee is that a partial payment? - 1

Read more: My mortgage payment i have a late fee due with payment if i don't pay late fee is that a partial payment?

I might inherit family property and old home, looking for ideas to make it financially viable

My wife may be inheriting a small ~5 acre plot with a small barn, detached garage, and old farmhouse built around 1890. The plot is beautiful and in a rural area ~20 min outside of a popular city in Michigan. Also, supposedly a vineyard is going in across the street, which may make the plot more desirable. The problem is the house is in disrepair and would need lots of work (I'm considering just knocking it down and starting fresh). Also keep in mind this isn't a "true" inheritance, as we may only get a good discount on the property and still need a mortgage to take it on.

My wife and I would be willing to live here short term, but because the land isn't in the city proper, it gets lumped in with the wrong zip code and the schools are mediocre. We don't have kids yet, but hope to soon. What I'm really trying to think of is a way to monetize the property so we can keep hold of it but not live there.

The obvious idea was to rent it, but I'm not sure what the rental market for 5 acre farms really is as it seems people at that price point would rather just buy a home. I also thought of boarding horses, but a look online showed me plenty of options nearby with way more property and amenities than our little plot could offer, all at a reasonable price.

Does anyone else have any creative ideas on how to use the property to make some cash, if only enough to cover ~6k a year in taxes so we can keep the property in the family while not living there?
Added (1). The property is already partitioned/fenced out so we could certainly consider renting plots for farming, though not sure how much a couple acres of farmland rents for or if it's big enough for anyone to waste their time.

Selling it down the road would be an option, but short term the expectation would be that we hold onto it.

Keep in mind that even if we "buy" it, we would be getting a deal much better than market value. That said its def an emotional thing.Been in the family for 100 yrs

Read more: I might inherit family property and old home, looking for ideas to make it financially viable

Doing a reverse mortgage/equity loan on a home owned by a revocable trust?

If a house is owned by a revocable trust, does getting a reverse mortgage or equity loan change the terms of the trust? Does this require an attorney change the terms of the trust before this can happen?

Read more: Doing a reverse mortgage/equity loan on a home owned by a revocable trust?

Joint owned land. Remove one owner before obtaining a mortgage?

I own a piece of land jointly with my ex. I will be obtaining a loan against the property to pay off her interest in the matter and remove her from the deed. She agrees completely with this. Is there a best way to do this? I was going to have my attorney prepare a contract for her to be removed from the deed in exchange for a sum of money to be paid within 90 days or so. I should mention my ex and I are on very good terms and there's plenty of mutual trust here and she may just remove herself from the deed on faith but I want to ensure she is protected in this matter.

Read more: Joint owned land. Remove one owner before obtaining a mortgage?

I'm 6 months behind on my mortgage. How much longer can I keep it this way till I can no longer short sell?

I'm 6 months behind on my mortgage. How much longer can I keep it this way till I can no longer short sell?

When can it be considered foreclosed?

Can I just surrender the keys to the bank lender?

Also regarding the short sale:
if i am to notify my renter, when do I have to do it: at the start of the short sale advertisement which might end up scaring him off, leave, and stop paying the rent and utilities, or until a buyer has expressed interest since it might take a while for the bank to approve the short sale. The renter is not interested in buying the house.

Also, please take note that I don't care about ruining my credit as a result of this short sale or foreclosure. I just need to get out of it but it is no longer a wise investment as it has lost more than half of its original value.

Read more: I'm 6 months behind on my mortgage. How much longer can I keep it this way till I can no longer short sell?

Can I get a mortgage loan for more than the house costs?

My grandparent are willing to co-sign for a loan for me. Is there any way to get more than the house is worth so I can pay off my credit card debt (8k)? If I could get more than the house costs I could afford to own a house (instead of living with my mother indefinitely) but if not, I wouldn't be able to afford a mortgage payment plus credit cards. Right now, I'm paying around $600/mo towards my debt, so I could afford at least that much in a mortgage payment. I just wonder if it's possible to get more than the house is actually worth, especially with the economy how it is.

Read more: Can I get a mortgage loan for more than the house costs?

Buying a home out of town or state?

My wife and I really want to move into the woods. The towns in my state is 200 miles away.

How does it work for a mortgage when we don't have jobs over there yet.

Plus, even if jobs are easy with our background, how do you coordinate it with sale of current house, mortgage app, and new house?

Read more: Buying a home out of town or state?

He lost his job but still lives in a mansion, should he sell it & cut costs?

A close relative of ours has worked in corporate America for decades making nearly $200K a year. Last year, he lost his job and did get a severance. His wife has never worked and they are not "realtors" (they sell 1 house every 6-8 years). They bought a brand new home (almost a million dollar home) and immediately put in a $50K pool and outdoor kitchen. They have not stopped spending (despite turning down our invitation to go to a buffet because they said it was too expensive). They have a teen son in league sports (pay to play) and spend thousands on that a year. They have blown through their kids college funds and one child is about to go off to college and they don't make him work, they are paying for his apartment and all college expenses. When we told them that maybe they should consider selling the house ($2000 + a month mortgage) they claimed they "could not sell it because nobody would buy it right now". And yet, they are always bellyaching to us about how poor they are. So, what is the best thing financially in situations like this? And yes, they have asked our opinion.

Read more: He lost his job but still lives in a mansion, should he sell it & cut costs?

Are VA home inspections to get a mortgage hard to pass?

I am buying an old country home in the country. The seller is making some repairs to it. The real estate agent is acting like the VA home inspections are hard depending on the inspector you get. What is your experience with a VA home inspection? Are they hard to pass?

Read more: Are VA home inspections to get a mortgage hard to pass?

I am looking to buy a house in Houston Texas and want to know which is the best home mortgage company?

I am looking to buy a house in Houston Texas and want to know which is the best home mortgage company? - 1

Read more: I am looking to buy a house in Houston Texas and want to know which is the best home mortgage company?

If I'm in the process of trying to modify my mortgage (in the final stages now)?

If I'm in the process of trying to modify my mortgage (in the final stages now)?
Added (1). Can I now apply for the Hardest Hit program (of NJ) which is for people in my circumstance? I lost my husband in February of this year and probably about 70% of my income due to that. I can't afford the mortgage payment he was paying. The modification will help, but the Hardest Hit program will ensure I won't lose my house.

Read more: If I'm in the process of trying to modify my mortgage (in the final stages now)?

Can I still get a mortgage while being in debt?

I'm looking to buy a house before the interest rates start going back up.I've been steadily paying off my debt. I had about 30,000 in debt at one point and have gotten it down to around 15,000, i have a minimum payment of around 300 for these debt.

I make around 30000 a year. I would like to buy a house for around $75,000 with either a fha loan or Usda Loan I have a good credit score around 740

Will my debt hurt my chances of getting a mortgage? And What do you think my chances are of getting a mortgage?
Added (1). I will be having help w. My closing cost since the seller agreed to up to 5,000 in closing cost. And our property taxes are 1,200 for the year.$100/month. And Insurance is around 800 a month… I live in the house im looking to buy. And have been paying the taxes and insurance there for about 5 years now. As part of my rent.
& apparently you didn't read i'm looking for usda or fha-- usda doesn't need a down payment.& fha is 3.5% which our state has programs for down payment assistance.

Read more: Can I still get a mortgage while being in debt?

Will any mortgage lenders go below 580 if so who?

Will any mortgage lenders go below 580 if so who? - 1

Read more: Will any mortgage lenders go below 580 if so who?

Is it possible to live in a national forrest forever?

A lot of people go camping for free at national forrest, state forrest, or BLM. You don't pay anything and don't make any reservations, and usually these places are remote of a lot of people camping there.

I was wondering, if someone didn't want to pay taxes, pay for home mortgage or rent in an apartment, and wanted to live somewhere he he or she could live for free forever, could it be possible for someone to camp forever and live off the land?

Read more: Is it possible to live in a national forrest forever?

Does my families net worth make us working class or middle class? What would we be considered?

My grandmother is 73 years old and retired. She lives with my parents and I in our house here in Plymouth. My grandma has a small state pension of about £400 a month. My dad is 51 and my mum is 49. My parents have a combined income of £2,000 a month. We live in a house worth £250,000 and my parents paid off the mortgage on it 7 years ago, so they fully own our house now. We as a family(My Grandmother, mum, dad and I) have a combined savings of around £350,000. We own a Mercedes worth around £20,000.

So in total our family has a net worth of about £620,000, plus an income of £2,400 a month. I am studying at University. Are we considered working class or middle class?
Added (1). My Grandfather sadly died a few years ago.

Read more: Does my families net worth make us working class or middle class? What would we be considered?

Why would someone need to take out a SECOND mortgage?

Why would someone need to take out a SECOND mortgage? - 1

Read more: Why would someone need to take out a SECOND mortgage?

Can you obtain a Fannie Mae home loan for your second house even if you have already received an fha loan for your first house?

Can you obtain a Fannie Mae home loan for your second house even if you have already received an fha loan for your first house? - 1

Read more: Can you obtain a Fannie Mae home loan for your second house even if you have already received an fha loan for your first house?

Can standby letter of credit SBLC be mortgaged? - 1

If I issue a SBLC to a seller and he mortgage my SBLC without informing me. What are the risk's?

Read more: Can standby letter of credit SBLC be mortgaged? - 1

Is using a fha loan for a multi unit property a good idea im single and willing to live in a unit?

Is using a fha loan for a multi unit property a good idea im single and willing to live in a unit? - 1

Read more: Is using a fha loan for a multi unit property a good idea im single and willing to live in a unit?

Can i use a fha loan to buy a multi unit property is that a good idea?

Can i use a fha loan to buy a multi unit property is that a good idea?

Read more: Can i use a fha loan to buy a multi unit property is that a good idea?

What happens if someone defaults on their mortgage but is collecting rent monies on the house from tenants now living there?

What happens if someone defaults on their mortgage but is collecting rent monies on the house from tenants now living there? - 1

Read more: What happens if someone defaults on their mortgage but is collecting rent monies on the house from tenants now living there?

How do you actually profit from renting out real estate?

I've been researching how to make money through buying and then renting out real estate but the figures aren't adding up to me. For example, lets say you start out buying a house for $130,000 and the monthly mortgage is $600. You would obviously have to charge more than the 600 to make a profit, and for a property of that value, you wouldn't really be able to charge more than lets say $1000. So that's a $400 profit for you. Okay. That's not a lot of money at all. So you would have to buy another property and do it again, so that's another what, $500. So you'd own 2 properties and only earn around $1100 from them per month.

You would basically have to buy like 3 properties just to earn above $2,000.

What am I missing here? The only way to earn a major profit is if you bought a property outright and paid it off completely, then keep every dollar of rent. But even then you'd probably still have to buy 2 properties. I'm confused because this seems impossible for any random person to get into the real estate game if you need to take out loans for multiple properties. I mean who has that kind of capital unless you already come from money? Can someone explain how this works or if I'm missing something? I mean yeah you could have a part time job and just use the real estate profit as extra income but I was trying to see how this could be a full time job not just extra cash.

Read more: How do you actually profit from renting out real estate?

What is the total monthly payment for this mortgage?

I'm trying to finish some financial literacy courses online to earn my credit and I just need an answer for the following so that I can get an idea and do it myself.

What is the total monthly payment for this mortgage?
Principle per month: $750
Interest per month: $120
Property tax per year: 0.5 percent of the value of the house ($140,000)
Home insurance per year: $460
PMI (private mortgage insurance?) per month: $45
--------------------My choices are----------------------
A: $1,510
B: $1,283.33
C: $1,760
D: $990

Read more: What is the total monthly payment for this mortgage?

Non-resident, non-citizen buying house in Canada. Is it possible?

I'm not a Canadian citizen but I'm thinking of getting a house in Canada. Is it possible? I've contacted several online real estate agents and bank reps about mortgage, but either no reply or very unclear…

anyone has any experience or knowledge about this? Thanks

Read more: Non-resident, non-citizen buying house in Canada. Is it possible?

Can standby letter of credit SBLC be mortgaged?

If I issue a SBLC to a seller and he mortgage my SBLC without informing me. What are the risk's?

Read more: Can standby letter of credit SBLC be mortgaged?

I'm buying a condo. Is it possible to bribe the sellers with cash?

Okay, the bank won't give me a mortgage unless they assess the value of the property. This is a safety net to ensure that if I walk away, they aren't left with a worthless condo. But this means that I might not be able to buy for asking price or above asking price so I won't get the condo. So can I take 5 grand cash out of my account, hide it, get the mortgage, and then buy for the bank's price with a cash tip so I get it?

Read more: I'm buying a condo. Is it possible to bribe the sellers with cash?

How do I find out if I am one of those who the banks banks have lied, misrepresented themselves and committed fraud to from my mortgage?

I hear I should get a securities audit to see if the title was separated from the deed, something like that, and that I check to see. But how do i do that?

Read more: How do I find out if I am one of those who the banks banks have lied, misrepresented themselves and committed fraud to from my mortgage?

Have I blown my chance of a mortgage by using pay day loans?

I have an agreement in principle with a major lender and now the full application is going through. I've since learned the particular lender doesn't look to positively on pay day loans taken out over any pay day loans taken out over twelve months. Over the last three months I've stopped using them and my credit rating is good. I assumed this would be enough to persuade a prospective lender. Is the door closed to be to all lenders?

Read more: Have I blown my chance of a mortgage by using pay day loans?

Would a mortgage lender verify my bank statement?

My wife and I have just applied for a mortgage, and I faked my bank statements. Would the lender verify them with my bank? They asked for payslips and ID too, which I provided - why do they ask for bank statements?

Read more: Would a mortgage lender verify my bank statement?

Changing Jobs During Mortgage Process (same field, different type of position)? - 1

I was let go from my job last week, and I am set to close on my house in the next couple weeks. I have a new job offer this week. Same industry, same pay, but different *type* of position.

My title would be going from "Assistant Property Manager/leasing consultant" (on the leasing/office side of things) to "Service/Maintenance Technician" (on the maintenance side).

Will they care that it's a different type of job title, even though it's in the same exact industry? I know being in the same field and same/higher pay is no biggie, but just wanna be sure that the title change is okay, but this feels like a gray area.

Thanks!

Read more: Changing Jobs During Mortgage Process (same field, different type of position)? - 1

I'm 22 I work 12 hours a day working carpentry I worked carpentry since I was 16 i make 60 thousand a year but I'm tired a working so much?

What could I do that i could make more like 100 thousand a year a bought a rental property but I only make like 10 thousand profit a year and i have a mortgage on it I'm just tired of working so much for so little I save as much money as I can what could i do too make more money

Read more: I'm 22 I work 12 hours a day working carpentry I worked carpentry since I was 16 i make 60 thousand a year but I'm tired a working so much?

On a credit card application when they ask how much your monthly mortgage is, should I include my escrow or just the principal and interest?

On a credit card application when they ask how much your monthly mortgage is, should I include my escrow or just the principal and interest? - 1

Read more: On a credit card application when they ask how much your monthly mortgage is, should I include my escrow or just the principal and interest?

Changing Jobs During Mortgage Process (same field, different type of position)?

I was let go from my job last week, and I am set to close on my house in the next couple weeks. I have a new job offer this week. Same industry, same pay, but different *type* of position.

My title would be going from "Assistant Property Manager/leasing consultant" (on the leasing/office side of things) to "Service/Maintenance Technician" (on the maintenance side).

Will they care that it's a different type of job title, even though it's in the same exact industry? I know being in the same field and same/higher pay is no biggie, but just wanna be sure that the title change is okay, but this feels like a gray area.

Thanks!

Read more: Changing Jobs During Mortgage Process (same field, different type of position)?

What happens when I sign a quit claim deed form so my ex can apply for a loan modification as the home is in foreclosure?

My ex-husband and I jointly own a home which he was awarded in the divorce. He is former military. The home was purchased with his VA loan. He was injured on the job and was unable to make payments on the home and thus the home went into foreclosure. A foreclosure date has not yet been set.
He is now recovered and back on the job. He is able to afford the monthly payments but not able to pay the amount needed to get the home out of foreclosure status.
He is interested in staying in the home and eventually refinancing in his name. To refinance, he was informed he would need to make a year of consistent payments. To stay in the home now so he can start to make these payments, he is interested in applying for a loan modification, which he would likely qualify for on his own. He has asked me to sign a quit claim deed form so that he can apply with his income only. I am not interested in having any ownership or responsibility for the home, but I understand that a quit claim form releases me only from the title and not the mortgage and that the bank could hold me liable for payments. Since the home is already is foreclosure status, am I really losing much of anything (my credit is already trashed because of the missed payments)?
What are all the possible consequences for me if he is grated the loan modification but defaults on the loan again before he is able to refinance in his name other than my credit?

Read more: What happens when I sign a quit claim deed form so my ex can apply for a loan modification as the home is in foreclosure?

Affordable safe place to live Westbury, NY?

We are moving to New York from Louisiana, so obviously the cost of living and lifestyle will be very different. I currently pay 2500 a month for my mortgage so I would like it to stay around the same. I am looking first for a place to rent while I learn the area. I have 2 children and will so I am curious about affordable (decent) housing, schools, etc. I will be working in Westbury so I am trying to stay somewhere within a reasonable distance if it is good. Any info is really appreciated!

Read more: Affordable safe place to live Westbury, NY?

Can you assume a loan that has a reverse mortgage? - 1

If my grandmother were to leave her house to me that she owes $290,000 on (reversed mortgage) would I be able to take over the home as an heir without having to sell it and pay off the $290k as you would a regular new mortgage?

*North San Diego, CA*

Read more: Can you assume a loan that has a reverse mortgage? - 1

Changing Jobs During Mortgage Process (same exact field)?

I was let go from my job last week, and I am set to close on my house in the next couple weeks. I'm getting a new job this week. Same industry.

The only other change is that my title is going from "Assistant Property Manager" to "Leasing Consultant", but fortunately my pay is going up 50 cents.

Will they care that it's a "lower" job title? I know being in the same field and same/higher pay is no biggie, but just wanna be sure that the title change is okay?

Thanks!
Added (1). Note: I was in my field for two years until being let go and everything has been approved, just waiting for the house to finished with construction.

Read more: Changing Jobs During Mortgage Process (same exact field)?

I ve been pre approved for a mortgage. When they run 2nd check on credit, it may show late car payment. Will it change their decision?

I ve been pre approved for a mortgage. When they run 2nd check on credit, it may show late car payment. Will it change their decision?

Read more: I ve been pre approved for a mortgage. When they run 2nd check on credit, it may show late car payment. Will it change their decision?

Do I need a mortgage broker or real estate agent to refinance on my rental property?

Do I need a mortgage broker or real estate agent to refinance on my rental property?

Read more: Do I need a mortgage broker or real estate agent to refinance on my rental property?

Buying a home in a place I go to around once a month - good investment?

I work for an international company and often have to travel from London to Palm Springs, CA last minute. This means hotels cost a fortune (I get an allowance for travel, but it doesn't cover it).
I was thinking of buying a house there. I could use it in the summer with my family, use it whilst on business and rent it out using Air B&B. Normally I spend around a week per month there, as well as the summer time.
I've looked at listing the last couple of times I've been over there and it looks as if I can pick up a nice home for less than $500,000, meaning I wouldn't need a mortgage.

Does this sound like a sound investment? I've always wanted to move out there in 10-15 years (when my children have left home), so having a property out there is helpful.
Added (1). I am already a US citizen from when I lived and worked there a few years ago. I obviously went through the legal pathways for this.
Also, the figures for the hotel stays you quote are wrong. I often don't find out until the day before i am due to leave, so flights and hotels are a lot.
The $500,000 is what I am willing to pay. That is not to be scrutinised. My wife and I have built up that figure from working hard.

Read more: Buying a home in a place I go to around once a month - good investment?