Thursday, September 10, 2015

Changing names on house deed with mortgage, how?


Hi,
I have a house and mortgage under me and my mum's name.
I'd like to transfer ownership and mortgage of the house from ''me and my mum'' to ''me and my husband''.
How is this done? I know the mortgage part will be with the bank, but what about the house part?
After doing a bit of research, I'm still none the wiser, some say it involves solicitors, some say it doesn't, some say you go straight to downloading forms from the land registry website, some say you need the bank's approval first… VERY confused.

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Determine the financial net worth based on the given?


From the following information determine the financial net worth:

-Checking account balance $ 1,000
-Value of stocks & bonds $ 50,000
-Market value of house $ 400,000
-Current value of car $ 15,000
-Home mortgage balance $ 350,000
-Car loan balance $ 5,000
-Current credit card balance $ 15,000
-Monthly income $ 5,000
-Monthly expenses $ 3,500

P.S. Apparently, the correct answer is a net worth of $96,000. How? I can't seem to figure this out after I've calculated all my assets with the debts subtracted.

Basically, what are the assets and what are the debts?

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Determine the financial net worth based on the given? - 1


From the following information determine the financial net worth:

-Checking account balance $ 1,000
-Value of stocks & bonds $ 50,000
-Market value of house $ 400,000
-Current value of car $ 15,000
-Home mortgage balance $ 350,000
-Car loan balance $ 5,000
-Current credit card balance $ 15,000
-Monthly income $ 5,000
-Monthly expenses $ 3,500

P.S. Apparently, the correct answer is a net worth of $96,000. How? I can't seem to figure this out after I've calculated all my assets with the debts subtracted.
Added (1). Basically, what are the assets and what are the debts?

Read more: Determine the financial net worth based on the given? - 1

Wednesday, September 9, 2015

Why would you re feniance your house to only the same mortgage payment?


Why would you re feniance your house to only the same mortgage payment?

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Will we get approved for a FHA loan?


My girlfriend(21) and I(19) are looking to buy a four-plex apartment building when the lease on our apartment is up in April. When April comes around I will have the same job for about 8 months and she will have had the same job for about 11 months. She has not had a job gap more than one month over the past two years, and I didn't have a job this summer. We are also full time college students. Her credit score is about 720 and mine is about 620, but we are both still working on it. I have $10,000 that I would like to put towards a down payment and around April she'll have 6-8000 to put down. We hope to buy this apartment building for $141000, making our loan to be about $125000 making our mortgage $590 a month plus fees and taxes making it about $960 a month in payments. Our current rent is $800 and combined we make about $2000 monthly, plus the apartments will be bringing $1500, so we think this place is in our price range. Our main concern about getting this new place is our job history. Will we get approved for an FHA loan on this place ourselves with our job history and all the other factors? Or will we have to get a co-borrower/co-signer? How does that work? Would he/she be on the deed? What would their responsibilities be?

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Why is buying a house so hard? Like why is it hard to get a mortgage?


Why is buying a house so hard? Like why is it hard to get a mortgage?

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Do girls like handymen? Like men who can fix cars/plumbing issues even though they get dirty?


It seems like some girls prefer the guys in suit and ties, but other girls claim to like guys with pick up trucks?

I grew up thinking that manual labor, like repairing a car, was shameful because only poor people would do that. Someone could always be paid to repair your car.

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How to study real estate basics?


I bought a textbook recommended by intro survey real estate course, but it was much more than I thought, and I ended up returning it. I am not planning on becoming real estate agent, but I don't know basic terms such as mortgage, foreclosure, etc. I have absolutely no idea about home buying/selling process.

Read more: How to study real estate basics?

Tuesday, September 8, 2015