Archive for Mortgage
Apr
15
My wife and I live in Queensland. We are looking to buy our first home – in south-west Brisbane. We are in two minds: buy as cheap as possible (but possibly either a fairly old property or a newer but very small place on a tiny piece of land) or go for something nicer (newer with 4 bed, 2 bath, 2 car garage on a bigger block) to maximise re-sale value in a few years’ time.
We really want to get on the property market asap but not have a loan hanging over us for 30 years and never get ahead.
The idea behind the older or smaller place is that as it is cheaper we should be able to pay it off quicker (or at least pay off a large portion before we are looking to move up the ladder in 4-5 years).
The idea behind the newer or bigger place is that although it is more expensive we would probably be happier living there and while we won’t make huge inroads into the mortgage in 4-5 years the capital growth should be greater as house prices climb.
Any suggestions/advice?
Mar
04
how does the bank find out if you sell a property that they have a lien on?
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What safeguards do they keep in place to ensure the due on sale clause that says that if you sell the property the mortgage must be paid off?
Jan
24
Insurance claim question?
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Our rental house in Houston was damaged in Hurricane Ike. We don’t own this house because we are investors; we were simply relocated by my husband’s company and we couldn’t sell the house for what we needed to pay off the mortgage. We have a insurance company known for being generous and taking care of its customers (USAA), so when they wrote up the claim it was no surprise that it was more than expected. They thought the whole roof needed to be replaced and that the work would cost a lot more than it did. Our reliable home improvement guy there told us that the he didn’t think the roof needed to be replaced so we had him do the necessary repairs to the roof and inside the house along with hiring a remediation company to come and dehumidify the house and remove any water damage. It has been 2 1/2 years since we moved out and our renters were moving out in January so we decided to use the rest of the money to upgrade things in the house for a quick sale and use the rest to pay the note while it was on the market. Now we have a potential buyer and they are demanding the insurance claim papers, first of all did we do anything wrong? Second, am I required to hand those papers over? If we are, then we will have to have the roof replaced with the rest of the money and foreclose. We won’t be able to afford any items someone might have on their repair list from their inspection of the property and we won’t be able to pay the note. Please any advice…and don’t bash us we truly didn’t know, until now, that it might not be okay. We were just trying to not foreclose.
Well, duh…that is what we realized it would come across as if we didn’t show it. Hence why I asked the question. You did not answer the two questions I had. Again, duh, I know our house isn’t the only one for sale. If you can say something helpful don’t bother replying.
Nov
01
Sell up, or rent out 3 homes to finance a new home?
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We have 3 homes, one of which we live in and 2 of which we successfully rent out. Our original plan was to sell all 3 and buy our dream home, but as property is no longer selling quickly it’s likely to be a fairly horrible long drawn out process. As things stand we’re unlikely to get another mortgage as we have 3 already but we have alot of equity tied up in the houses. What can we do to enable us to move to a bigger house?
The equity at the moment is about £250-£300k. We both have good jobs (higher tax bracket), we have no debt and we have around £25k in savings.
Jul
30
I have got my mortgae offer and i have not signed yet….I want to change the soicitor for conveyancing.
Will the lender agree to this?
Jun
30
Can I sell our property without her consent?
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My wife and I are separated (she has literally left the country). She is on the deed/title but only my name is on the loan because she didn’t have a SSN.
I want to sell our property do I need her consent or can I sell it and remit the mortgage?
Jun
11
Quick Sale Property Company’s?
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Quick Sale Property Company’s?
I need a quick sale, I am not struggling with my mortgage but need to buy a new property asap. I would like to know if you used a quick sale company in th UK and which one it was and what percentage did you take of the house its worth about 130000 and i need 110000 what would you do.
Mar
10
joint ownership of property with brother who won’t move on?
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Me and my brother purchased a house .We hold the title in joint ownership with right of survivorship. I got married and was planning to move on with my wife. We have a house being built and plan on moving in soon. The current house that I live in with my wife. I pay for entirely. I finally got my brother to move out after several months of being shorted money then eventually not getting any money from my brother for his half. He left me owing me thousands of dollars. I have tried to reach him several times to get him to sign a quick claim deed. He wont get back to me. We owe 114,000 on the mortgage and 65,000 on a home equity loan. The house is worth only about 150,000 after the market dropped. I want to refi so I can lower the payment and rent the place out. What could I do to get him off the title if he wont sign the quick claim deed. What are my options for short sale or foreclosure if I cant carry the house any longer. What will happen to me if I foreclose. The house is in arizona.
Jan
15
Why would home owner quick claim when have tenants?q?
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I have been renting a home. I made my payments on time. Unfortunately, the owner of the home did not and the property fell into foreclosure. The state I am in has a 6 month redemption period. I like the home and got pre-approved for a mortgage to be able to buy it. All of the sudden I found out the “owner” quick claim deeded the property to another individual/company who is now trying to sell me the property for much more than I would have been able to buy it from the bank. The new “owner” says he has negotiated with the banks (there were 2 loans) regarding a short sale and basicaly paid off the loans almost in full (which I doubt cause he could have waited and paid 80% original amount + zero on 2nd which would have absolved). However the liens and foreclosures are still on record and not satisfied as he claims. Now he is trying to sell me the home at huge profit or “rent it to me again with an increase”. Would the bank short sale after they already foreclosed? Why would owner qcd
Sep
24
With property in UK so expensive I am thinking about buying overseas but not sure where.I am first time buyer and would like to rent property to help with mortgage and hopefully enjoy capital growth on the value of the house.Any tips /advice?
Sep
14
it anymore he left the house in such bad repair that it cost me and my family nearly 10,grand to make it habitable for me and my kids i have been paying mortgage now for four years with no help from him but he says that if i sell the house he wants his half of profit to go to his kids i would like to sell as the area is terrible but if i give the kids his half i wont beable to buy another property due to lack of funds also he didnt pay anything towards the house repair and i feel i will be left out of pocket how can i get round this as i cant afford a solicitor and cant get a mortgage on my wages alone he also does not pay me any maintenance for the kids we lived together there for 10 yrs he had it for 3 yrs alone while i moved out but i have now had it alone for 4 years
Sep
09
I have about 50K in pounds to invest, Where, when and what is best to invest in, I have access to expertise, barrels of enthusiam and that amount would be a completed price as I don’t wish to have a mortgage. Any useful property websites would be great. I am considering buying to rent and buying to renovate to sell.
Aug
27
Can I borrow money to buy property overseas?
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Hi all you property hungry seekers out there!
I want to invest in buy-to-let property overseas but the problem is that I gonna have to borrow money for it. Is it possible to get a loan or a mortgage to buy property overseas? Few details follow: I am UK resident, EU passport, amount to borrow-about GBP 100 000. I rent in the UK but own a flat in other EU country. Possible countries to buy: Mexico, Portugal, USA.
Thanx a lot!
Aug
24
I heard that you can buy a property in Turkey (even with mortgage) and automatically can be granted a residence permit. Would be great if any one knows what European country can do the same.
If you know other countries not just Europeans – please do post your answer.
Thank you!
Aug
17
Conveyancing problem? any way i can make my buyer pay for my conveyancing costs?
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Hi
I’m in england. i am experiencing what must be another example of how selling your house can be one of the most stressful experiences. anyway. i’m looking for some advice.
we are now at the very end of the buying/selling process. literally we’re about to exchange contracts. my buyer has decided to pull out – however she is entirely untrustworthy and this could be a ruse to drop the sale price.
i’m wondering if the sale does fall through, is there is any way i can make her pay my conveyancing costs. we excepted her offer on the grounds that she was a first time buyer, with mortgage in place and £100000 in the bank. it turned out that she wasn’t. she has been lying from the onset. i doubt it’s possible – but does anyone out there know if there is anything i can do?
any serious advice would be gratefully received.
Aug
12
Can you buy property in the US if you live in Australia?
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Can you buy property in the US while being a citizen of Australia not the US?? what costs / taxes are involved?
Just to make it easier so I can get a little more information from ya’ll…..I want to buy my place in Milpitas San Jose Califormia, I want it to be rented so I will be deriving an income from it, and I will be paying cash (no mortgage required)….btw thank you so much for being so informative and helpful…
Jul
05
•Due to mad selling and Consumers service.
•Bad photos on the web, that I requested to be removed and still there
•Requested an estate agent to accompany viewers on every visit (not done)
•Accepted an offer on the house due to four week exchange, was told he had a Mortgage in place, I requested a copy but never got it.
•Requested his Solicitors details and never got it.
•Sold sign outside my house and it is not sold. Requested to be removed but still there.
•The tenants in the property got so upset with the agents, they stopped viewing happening because the agents where sending people own their own with no agent present, not showing up when an appointment was made and not informing them, and sending people to see the house that was requesting to see another property on the street. So I had to ask them to move so I could sell the property.