Related articles from Yahoo AnswersOpen Question: My partners house has been on the market for 15 months. His ex lives there (awkward), it won't sell - help!?
My partners ex makes viewings uncomfortable and my partner is still having to pay 1/2 the mortgage which he can't afford any more. The house is at a good price, but becuse the market is so bad it's not selling. We are at our witts end, his ex won't buy him out, she's happy sitting pretty in the house. Have racked up 31k legal bill so far, but becuase we can't sell it, things aren't moving. What do we do?????
Its a lovely 4 bedroomed home, reduced from £179 to £150 - can't reduce any more, but we are facing financial ruin if it doesn't sell soon.
:((
To the person who said WAKE UP!!!!
I know it's a terrible situation. There is many a sleepless night of worries and crying. It's not a situation I would choose, but we can't force her out!!
Open Question: Negative equity and eminent domain?
I am curious... What if a family had negative equity in their home and the local government came in and claimed eminent domain? A lot of people who have negative equity don't plan to sell any time soon but still pay their mortgage on time and will just wait out the bad market. But what if the state comes in and takes your land for a highway and gives you only fair market value which isn't enough to pay off the loans? Would closing even be able to happen? Would the deed be able to be released if the note can't be paid off? I don't think foreclosures happen if you pay your mortgage and taxes, so I don't think you'd go into foreclosure... very curious!
Open Question: Is there acreage around Buckley AFB?
I know Aurora is a pretty big place, but are there any homes out that way with acreage? Or a not too distant drive? I have a horse and I dont want to have to pay boarding fees on top of rent/mortgage. Id love to keep her at home.
Open Question: Real Estate Investing Questions?
I've been looking into real estate investing for about a year now. I'm still in High School but am wanting to learn as much as I can about it, so that after college I can begin investing. I never owned a home of mine so please bear with me if my questions seem dumb. Basically I'm looking into rehabs, and my questions relate to the loans and out of pocket expenses.
When you take a loan out(bank loan or private mortgage loan) what exactly does that cover? Does it also cover any holding costs, selling costs(agent commission and closing costs), purchase costs(like points up front, interest), repair costs, or does it just cover the sale of the home? Are the holding costs, selling costs, etc expenses that come out of my pocket?
Also, is there anyway payments on the loan can be withheld until the actual sale of the home? My plan would be to buy a home, fix it, and then sell it all within a 2-6 month time period. So I wasn't sure if lenders would just wait until the house is sold to collect their money
I know down payments are usually around 10-20% of the value, would I be able to borrow the money from a private lender to use as a down payment?
Thanks in advance for any advice that comes my way, and thank you for understanding.
Open Question: Question about olympic athletes?
I will just go straight into an example - the US gymnast Shawn Johnson, she is 16 and won a gold medal, I am assuming she is still in high school. The announcers said that her parents mortgaged their home more than once to keep Shawn in the gym.
Now that she won a gold medal....does she get any money other than in endorsements??? and what kind of endorsements can a 16 year old gymnast get??
Open Question: My wife caught me in bed with her 18 year old sister what should I do?
Last night my wife came home from work early, which is rather odd, see she works 14 hours a day to pay the mortgage and the bills, because I am to busy with my hobbies to be bothered to work, I am an avid gun collector and my hobby is the most important thing in the world, Anyways she came home early from work and caught me in bed with her 18 year old sister, and she had the gull to freak out. I asked her what her problem was and why the hell she wasn't at work anymore, Like I said we have a mortgage to pay. She started crying and screaming how could I do this? Well the truth is I was just practising for her for her birthday, her fine little sister understood, and since she is a stripper at the local titty bar, she offered to show me some moves to perform on my wife. How do I convince her that tapping her sweet sister's fine @ss was all for my wife's pleasure and enjoyment on her birthday?
Open Question: My husband wants to foreclose our home. ?
We have paid 40000 off from the mortgage and 10000 for renovation. The mortgage alone is 338,000. And right now with the market being so bad he wants to foreclose. To him he would rather rent a 2 bedroom (since we are in a one), for 2500 a month. Our mortgage is 3300.He wants out since he doesnt see the real estate market increasing just lowering.Is that a truly good idea?
Open Question: Fixed vs. variable mortgage rates?
What are the criteria I should use to choose between fixed and variable mortgage rates when buying a new home?
Open Question: Second home, additional mortgage possible with new restrictions in industry?
I'm considering a job in another state, which will require me to move and start right away, before my husband is able to find a job in our new town, and before we sell our current home. I'm wondering if it will be possible to buy a home in the new state based on my credit and salary. Here's the deal: I've been a stay at home mom with only $5000 in part time income....this is what our picture would look like:
Old home:
Worth $240-250k (has dropped)
1st mort: $176k
HELOC: $43k (with add'l $14k avail)
Hubby income: $101k/year
New job for me:
$45k a year, and my credit is 750+
Our first home is in hubby's name only, could I buy something on my own while we make the transition? We'd only have $3-5k to put down unless we took more out of the HELOC on old home, which I'd rather not do since we might go upside down in it in this market.
Or, should I just rent until hubby finds job and we can sell old house and we're together in new place?
Hope that all makes sense!!!
Open Question: I'm 23 and married and want to get pregnant in 6-9 months should I wait?
Like I said I'm 23, my husband is 26. We've been married for almost 2.5 years; we have a nice home (with a mortgage of course). I graduated with a Bachelor's degree in May and my husband just started community college full time, his LPN degree should take 2 years. I have a fulltime very flexible good paying job and my husband has a decent part-time (32 hrs) job that has insanely good benefits, zero deductible insurance, dental, vision, life insurance...etc. So we wouldn't have to pay basically anything for delivery, just $10 Dr. co-pays. We have a good bit of money invested in case of emergencies but currently only save about 1-2% of our income, and have about 30K in debt including one car, credit cards and student loans. However, there is something telling me that we should wait until my husband finishes school, he is just going to school for a backup plan, the job he has now has very good advancement opportunities and he plans to stay there. I have my life together, am happily married but feel like I'm missing something in my life, like a baby. Thanks for your input!
Open Question: low income good credit first time home buyer , find morgage ?
i am looking to buy a foreclosure house please help im trying to get a mortgage , what can you recomend me about my situation thanks
Open Question: Home value and property taxes?
We purchased a house in 2004 for 430K.... since the market declined.... our house is now worth 390K!! This was from a Real estate agent, he also just sold a property next to us. Now, we owe more than we bought it for close to 520K.
Is there a way to get a deduction on our property takes or loan? OR SOMETHING!.... We owe more because some stupid mortgage company suckered my mom into signing a bad loan :(
Open Question: Divorcing and got debt? what to do?
Paying a mortgage, and got some credit card debt, can't afford to pay any of them anymore. Wife says she doesn't wan to be together no more(great timing). What can I do?
Were both military, and got out to go to new york and try to start a life. Now she wants to part ways. My concern is obviously my daughter but with the debt of a mortgage of a home in Nebraska that we now rent (we pay bout 200 out of pocket to complete the mortgage). I cannot carry this anymore anyway to get rid of it. I got credit card debt as well and not sure how that works if we get divorce. Can't make ends meet anymore. And been working a not very good paying job in the civilian sector. Still serving in the Guard, but that's not much as far as income goes. Any idea what could be my next step. My biggest worry is the payment of that mortgage which is eating all my income.
Any help is greatly appreciated.
Open Question: Will trying to renegotiate my mortgage rate with my bank hurt my credit score?
we have an ARM loan that is prohibitively expensive for our budget and since our appraised value is way underwater, we cannot get a refi. My original lender sold the loan and securitized it so refinancing, especially since we have a home equity line of credit that will not allow itself to be subordinated to another lender that refis the first mortgage only. I really want to tell the lender of our first mortgage that we're between a rock and a hard place and that if they dont play ball, we're going to walk away from the house. am i guaranteed to have a huge black mark on my credit score for just threatening this, or do i have to actually walk away from the house to have such a thing happen. thanks!
Open Question: Assess my pending Home purchase decision.?
- on the verge of buying a house for 545k
- make 70k per year (sole income earner)
- 200k+ credit line
- excellent credit (700+ score)
- absolutely no debts
I will put 300k down. Have some other savings as well (16k in savings, and 25k+ in other investments).
Why did I decide to take up a big mortgage?
- loved the house, it is brand new
- 3100+ sq feet
- in a growing suburb of Toronto
- there are two golf courses being built in the community, one of which is in front of the house and provides a spectacular view (the other is a 5 minute walk away)
- it is surrounded by houses that are 1 mil+ (this house is one of the cheapest ones in the area)
- school nearby, community fitness center being built
So what I want to know is, was this a wise decision? I plan on staying in this house for at least 10 years.
Open Question: Assess my home purchase decision?
- on the verge of buying a house for 545k
- make 70k per year (sole income earner)
- 200k+ credit line
- excellent credit (700+ score)
- absolutely no debts
I will put 300k down. Have some other savings as well (16k in savings, and 25k+ in other investments).
Why did I decide to take up a big mortgage?
- loved the house, it is brand new
- 3100+ sq feet
- in a growing suburb of Toronto
- there are two golf courses being built in the community, one of which is in front of the house and provides a spectacular view (the other is a 5 minute walk away)
- it is surrounded by houses that are 1 mil+ (this house is one of the cheapest ones in the area)
- school nearby, community fitness center being built
So what I want to know is, was this a wise decision? I plan on staying in this house for at least 10 years.
Open Question: My mortgage = InterestOnly/ARM - Smartest thing to do?
I have 8 years to go on my 10 year interest only period which ends in 2016. However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment). We're planning to be here no longer than about 7 more years anyway, then we plan to sell and leave the state (We're in Southern California)
If rates went up 2% or 3%, I could still make the payments comfortably come 2011 because I still won't have principle kicking in.
I owe almost exactly the same on my home as what I paid for it. (Prices went up a bit after I bought in the area and have come back down in the last 12 months.) We're saving money now to add an additional room/bedroom in 2011 if the rates are still reasonable and we don't need to use the saved cash to off-set higher payments.
I'm not in a position right now to throw 5%, 10% or 20% into a +$700K jumbo loan to refinance, which is what I'd have to do. So that's out. And not sure I want to do that anyway given that I don't plan to be in this home 20 years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about changing my mortgage?
Or is there something smarter to do?
Open Question: Rental mortgage interest deductible if income over 150K?
I am considering buying a home and renting my condo. I don't think I can deduct the loss in rent vs mortgage, taxes, ect for the condo since my income is over 150K. However, will the interest that I pay on the morgage still be deductible? Also, will the other losses carry over to the next year until I sell?
Open Question: My Interest Only ARM - What's the smartest thing for me to do?
I have 8 years to go on my 10 year interest only period which ends in 2016. However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment). We're planning to be here no longer than about 7 more years anyway, then we plan to sell and leave the state (We're in Southern California)
If rates went up 2% or 3%, I could still make the payments comfortably come 2011 because I still won't have principle kicking in.
I owe almost exactly the same on my home as what I paid for it. (Prices went up a bit after I bought in the area and have come back down in the last 12 months.) We're saving money now to add an additional room/bedroom in 2011 if the rates are still reasonable and we don't need to use the saved cash to off-set higher payments.
I'm not in a position right now to throw 5%, 10% or 20% into a +$700K jumbo loan to refinance, which is what I'd have to do. So that's out. And not sure I want to do that anyway given that I don't plan to be in this home 20 years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about changing my mortgage?
Or is there something smarter to do?
Open Question: Why is a refinanced home different than original mortgage ?
I refinanced last year to keep from losing the home..I am in Fl..I want to sell it but the realestate agents want so much..I would make NO profit..can I do it myself safely?I only want out at this point..from another answer I understand if its refinanced .they can even come after my Bank Account,,,
Open Question: Will my credit score be checked after a final approval for a mortgage loan?
I'm buying my first home and I wonder if they will check my credit score again after i've already been finally approved. A lot of people i have talked to said they won't, and if they check it again, wouldn't they have to do the whole process again?
Open Question: Home equity loan interest is tax deductible?
I have two mortgages - one for primary residence and one for investment property. I know that interest payment on both loans are tax deductible. But if I get a home equity loan against my primary home to pay off my high-interest car loan, the interest on this home equity loan is also tax deductible?
Open Question: What can I do with a joint mortgage and a fiance stuck in his ways...?
My finance and I own a home together. He grew pot plants in our house and I didn't do it myself but I knew about it. We were busted and I ended up getting a possession charge while he got a manufacturing charge. It was a terrible situation. After all was said and done he ended up in jail because he broke the rules on his probation. Now he is out again and wants to grow illegal mushrooms. Based on this information you may think I am crazy to stay with this person but my head and heart say two different things. If I move out and he grows these anyway can I still get in trouble because I am on the mortgage? What can I do to convince him this is a bad idea? I don't have the heart to turn him in myself. He is a good person but has some stupid ideas sometimes. I have tried to talk to him and I even got rid of everything when he started it but he still decided to start it again. I am also 8 months pregnant and I cannot stop thinking about the position this puts me and my child into if we were to get caught again.
Open Question: Home Insurance? Home Warranty? Mortgage Insurance?
I'm about to buy a home. What all do I need? Home Insurance? Home Warranty? Mortgage Insurance? Anything else? I am also renting out my old place.... Should I keep all three insurance's on my older place while renting it out? Thanks!
Open Question: mortgage,loan,loans,home mortgage,refinance,home refinancing,mortgage loans,mortgage refinancing,refinancing?
In Loom of the Fannie/Freddy Bailout, why doesnt anyone in big media bring up the the fact that most loan officers were instructed to use websites like http://www.FAKEPAYCHECKSTUBS.com (creating documentation that never existed) to help the loan qualify through every step of the pipeline, to collect the 6 percent commission they make on EVERY deal - is it any wonder why the economy and the worlds banking system is where it is at today?
Open Question: Can mom be cosigner for home loan?
My husband and I are living in an apartment right now and are thinking of starting a family in a few years so we want to buy a condo. I do not work at the moment. My husband has only been at his job for 3 months. We make more then enough money to pay for everything because his job demands over time. Hes only 20 and has great credit but we talked to a lender and they said since he hasn't been at his job for a year they wont count all his over time. So I don't know if he will qualify for the loan himself because of our debt to income ratio even though the mortgage payment would be less then rent is right now.
I wanted to know if his mom could cosign with him even if she is not living there. She has goodish credit but I don't know about her debt to income ratio.
All this is new to us so I don't really understand any of it. Any help would be wonderful! Thank you! :-)
My husband and his mom are really close. And we are a tight family. We trust each other and are open about of finances. Shes helped up cosign for our cars and such before. And if we cant make a payment she wont mind helping us out for a bit, but has never happened. :-)
Open Question: Does it matter if your down payment is "gifted" from a family member?
We are just now looking into mortgages and they asked if our down payment was a gift, which it is, I am wondering how this changes things if the money actually came from us? (first time home buyers)
Open Question: Through what company can I write reverse mortgages?
I am an independent life and annuity salesperson looking for a reverse mortgage lender who will allow me to work from my home office, and offer such a product to my current clients as well as perhaps following up on their current leads, too. I am NOT mortgage licensed (though I have 10 years of experience in mortgage lending) and live in Pennsylvania.
Thank you for reading!
Open Question: How can I get my ex-fiance to refinance?
Ugh, I am so frustrated!! My ex-fiance and I split 2 years ago. We had a home together with both of our names on the loan and title. When we split we agreed not to sell because he was going to live there and refinance within a few months. Well, it then turned into 6 months, a year, and now going on two years.
He has so many excuses as to why he won't do it. His main one is that he will not take anything less than the rate he has now (a good rate due to first time homebuyers and goverment assistance). He makes a very good amount of money where both he and his wife work, but he is just stubborn beyond belief.
We have both married since then and I have been trying since day one to get him to get in gear.
So, basically he has recently told me that he isn't going to do anything anytime soon. I am in so much debt on my own right now that all I can think of is bankruptcy. I've tried for 2 years to get a consolidation loan and all the companies have told me I can't aquire one due to the mortgage partly in my name. I just want to scream!!! Any advice out there?!
Open Question: Can we move a mobile home onto this property?
My parents have a very large lot with their home, and have offered that we could move a trailer onto the property if we end up selling our house, which is currently on the market. We are interested in the idea, but are wondering if we are allowed to do this. Where they live does not have zoning and allows trailers, however we didn't know about the legality of hooking our trailer up to the systems of their house - you know water, sewer, electric. We don't want to have a seperate sewer drilled or anything, because this will be temporary until we find another place to buy. How does something like this work? Also, they still pay a mortgage, and I'm not sure if that matters at all either. Any help would be appreciated!
Open Question: Buying 1st Home and Private Mortgage Insurance (PMI)?
Question... I'm purchasing a home from a family member and do not have 20% to put down. Since i'm purchasing this home under the value of the home (basically i'm getting a discount from family) is there anyway to use the difference between the value of the house and the sell price as the 20% down? Basically like there was equity built into the home with the discount.
I'm sorry if i'm not making too much sense. Hope someone can answer my question. Besides the obvious "contact your lender for the answer"
Open Question: why can't I deduct my mortgage interest from my taxes?
I bought my WI home in summer '05, I've heard others can deduct interest paid, but when we got the statement from our mortgage co. that box was empty. Is there any way around this?
Open Question: How do I sort out this???
Secured loans - what happens if you want to sell your home and the market being what it is cant get a price that will pay off the secured loan as well as the mortgage....in fact leaving approx 20,000 short. How do you manage that - any ideas???
Open Question: Paid contractor 1/2 money with no work completion almost a year ago. Details are awful and below. Help!?
The Mortgage broker suggested a contractor, her boyfriend, to replace roof and remove trees. His business is listed under her home address. I live in PA and there is no licensing. I have both of their numbers and can only contact the broker. The contractor will not pick up or return calls. I've even called her and she put him on the phone only to guarantee work completion that week... with no call, no show, again. The contractor has lied to her repeatedly about work completion, requiring permits (which I've looked into), etc. I have emails to and from her confirming this correspondence with apologies. There is only a verbal agreement with no written contract. I've paid 1/2 the loot up front. We're going on a year and winter's almost here... I would really appreciate any help!
Open Question: What nation has had the highest medal to citizen tally and done nothing about the future of these folks?
Um dont know?
Ends and Starts in an "A"
Still dont know?
Struth curly where'd you blow in from? Does the venacular give you a clue?
Well, they used to speak english, dunno what the heck it is now?Oh about five oclock?
Bored? No just stressed, ah, you call that think a bus?
Where they trying to kill the driver? It needed a tyre alignment, it vibrated all the parts off at 80km/hr.
Why, um its Australia? Oh dang! Gonna and spoilt it you work it out?
What, why it takes all day to get a bus to what I can walk quicker 24km away with a train and still be later than if I didnt go, I mean its not petrol is it? Ah, must be mortgage stress then, yup in NSW alone this twelve month period 14,000 homes, ie working families have been dispossesed of their life style, ah now that you say it like that, we ARE in the very best of hands?
What? Yea pulling it I am being facietious or whatever?
Open Question: When a bus time table gets changed often and regularly is it a symptom of:?
A. the government can not do their job properly in providing a decent service to constituants.
B. the bus company regards passengers as an inconvenience as fuel prices rise and dont really want them to place two three hour waits during the day.
C. the bus drivers can not tollerate the abuse from management in the bus company demanding higher wages for their mortgage stress and own rising fuel prices.
D. it is easier to not drive to work on buses because they were designed for kids and not reducing green house gas emissions or reducing road traffic density.
E. We like grid lock bus car parks the world over so let the pessants drive on per car and really foul up the air.
F. The country has gone to the dogs, buses do a better job of smashing up the road edge than garbage trucks so council dont have to make better roads.
G. God Only knows.
H. Why wont that mean B. God provide free buses for everyone?
I. Because Morris is playing God in a blue ribbon liberal seat, I think the last person who voted labor at the school zone in question was back in the Crimeia war in a fit of passion thinking he was a communist spy but came home to roost as the NSW Premier.
J, Just quit the offensive questions.
K. or we will set the KKK onto you?
L. love is what is KKK? dunno ask Osama?
M. MMMmm gonna have to give some thought to choices who? Dunno.
N. What, awe heck all the above?
O. What is it this time bus drive have to run over you again to stop the cowboy, no Singtel own West bus and put on a 1948 bus with failing brakes as the driver went up the mountain we prayed as it came down we shat, you mean sat, in what? Yea right you stink! no it stinks!
P. did I?
Q. No, after three hours of waiting no one could be bothered it was quicker to walk arriving two hours late?
R Arrrhh! why did you leave, no stayed to annoy the driver as he smoked on an inforced smoko on the mountain top? A what yea he smokes so does the bus of burnt rubber!
S. Yea it nearly steamed at the mountain top and the brave driver took a phone call not hands free on the way down, fun, we were lucky to get a bus at all?
T. Tea break, ah thats better now where were we?
U. Would Premier Iemma be allowed to catch the Bowen Mountain freak show bus in NSW? I doubt it public relations would give him a couch bus not smoking, yea the driver too?
V. Victory 4 hours late for a date with a hot chick after going around kurrajong, kurmond, then all over North Richmond, I thought, gosh this driver is brave, he then went to lunch and we wainted four hours for a train to the city? Just another day in a blue ribbon liberal seat, psst the corner store are commos?
W. Would dubya ride on our garbage busses in Australia, no he would probably calling a nuke so we could all claim on insurance as the bus and pinko were got rid of and the island resettled in a more suitable green half life after life called real people with real green cars? Like Israel have, I hate giving money to those muslim gas guzlin giants!
x. Asta la vista dude this is an x rated joke
Y. Why, how the heck would I know?
Z. Slept throught the whole thing? Wha, so did ronald regan he was stuck on the bus from the golf war, what was his handicap? Bill Clinton not, look just click all the above this was how this question came to be today, Australia is a joke, are all our top brains being drained overseas? Why.
Open Question: How easy would it be for me to purchase a home in another country?
I'm American. Would it involve the same process of me getting together a down payment and obtaining a mortgage?
Open Question: mortgage? I live in NS Canada how do you do this?
what do you need like so many year of working or credit or what?? and how old do you have to be to get one?? im only 18 but i rather pay on a mini home thats 65000.00 than rent an apartment and waste my money, and i know nothing about it so can you help me??.
Resolved Question: Can someone proofread my paper or good with English?
Can someone proofread my paper. Thanks ahead of time.
People from all over the world are fascinated with the city of Los Angeles. Each year tourists from around the world come to Los Angeles. They come to visit famous landmarks like Grauman’s Chinese Theater, hoping to see where famous movie and television stars have had their handprints, footprints, and signatures in concrete. Tourists also love to drive down Rodeo Drive to go sightseeing or shop at upscale stores like Gucci, Louis Vuitton, Prada, and Tiffany & Co., just to name a few. Some people hope to catch a glimpse of someone famous coming out of these stores. On the other hand, there are some people who don’t understand why someone would want to move or live in Los Angeles. Los Angeles is seen as an over-populated city where natural disasters like earthquakes and wildfires happen frequently. Like many other cities, Los Angeles has its advantages and disadvantages that people enjoy like the wonderful weather, diversity, and job opportunities.
Living in Los Angeles offers diversity in people, cultures and food. There are all kinds of different ethnicities from around the world that live in Los Angeles. Therefore, there are many different kinds of restaurants that people can choose from. These restaurants can range from P.F. Chang’s to Roscoe’s House of Chicken’n Waffles to In-N-Out Burgers. They can choose to eat Chinese food, Japanese food, Vietnamese food and also American food on different days. There are also many places where people can go to like, Chinatown, Thai Town, and Little Tokyo. This kind of diversity makes living in Los Angeles a great way to experience different cultures. For example, people can at a workplace where there are many employees of different ethnicities and there is a language barrier, so they communicate with each other in different languages besides English. Los Angeles also offers a taste of the different cultures living in this diverse city.
There are many job opportunities for people who live in Los Angeles as well. People can work in the Los Angeles County or work for the City. Jobs like clerks, architect, and engineering pay higher salaries with benefits. Los Angeles also offers a variety of jobs in the film and television industry. Therefore, people live and move to L.A. because they are aspire to fulfill their dreams of becoming actors, actresses or broadcasters in Hollywood or Burbank where Walt Disney, Warner Brothers, CNN, and Paramount Studios are located. There are also many shopping centers like malls and outlets around Los Angeles where retail jobs are available. This makes L.A. a good place not only for students to work and go to school at the same time, but also for people who are looking for part-time job or full-time job.
Another advantage of living in Los Angeles is the great weather. People like living in Los Angeles because they can go to the beach and the mountains year round. During the winter it does not get too cold, with temperatures dropping down to about 40 degrees at night and sometimes 80 degrees during the day. For example, people can go to Snow Summit at Big Bear Mountain to play in the snow, go snowboarding or skiing and the next day they can go to the beach. During the summer time it can get pretty hot with temperatures in the mid 90’s to the low 100’s. For example, people can go outside to the beach, go to a park to have a picnic or go to water parks like Raging Waters and Hurricane Harbor. Although, due to Los Angeles lack of rain, there are fire-warning alerts throughout the hottest time of the year. The fires can occur along hillsides, mountains, and very dry brush areas where the heat of the sun or a cigarette can ignite a wildfire.
Although, one can find oneself getting around L.A. is not always easy. Traffic in and around the city can be a disadvantage. The freeways do not always move as smoothly as they can. Rush hour traffic can be daunting and frustrating especially if one had to drive through it. Los Angeles is home to some of the busiest freeways in the country. With gas prices rising and with no end in sight, people are finding different ways to get from point A to point B. For instance, people are trying to carpool or ride the bus or the Metro in order to get to work and around the city. Some families only drive their cars on the weekends to go on family outings.
Another disadvantage of living in Los Angeles is the cost of living. Many people cannot afford to buy a home because the rising housing market prices. For example, a house with 3 bedrooms and 2 bathrooms can be very expensive depending on the area. This is why many people cannot afford to buy a house at this time. If they cannot afford to pay for it, the bank takes it back. This is the reason why there are a lot of foreclosed homes because homeowners are not able to pay their mortgage. Rent is also on the rise in L.A. An apartment can rent for a few thousand dollars monthly for a 2 bedroom and 1 bath apartment. Therefore, it is really hard for people to maintain a comfortable living in Los Angeles with the rising cost of living.
Finally, the crime rate in Los Angeles is also pretty high. This is true of many cities but Los Angeles is home to many gangs. Gang violence and homicides happen at an alarming rate and unfortunately innocent people are killed because rival gang members shoot at each other. It is not only homicides that occur, but also robbery that happen everyday in the Los Angeles area.
Despite all the disadvantages, I continue living in Los Angeles. I like being a part of the melting pot that Los Angeles has to offer. I like having friends of different ethnicities as we go out to different restaurants because I get to taste different foods and learn more about their cultures. I also love the summer weather in Los Angeles because I can go to the beach to play some beach volleyball. Although, I do get frustrated with running into traffic, the cost of living and the crime rate. It helps that I have a strong bond with my family and friends around the Los Angeles area.
Open Question: I owned a home and my wife owned a home before we were married. ?
We have been married for two years now. we have join account for everything. Now we can not afford to make two mortgage payment and are planning to foreclose her house. Would this affect my credit or would the bank go after my house or saving?
Open Question: What are the chances of buying a vacation home as my first home?
I live in an area where I cannot afford to purchase a decent home or even a condo without really stretching my budget. However, I spend most of my weekends in a resort destination about 3 hours away from my office. There, I could afford a nice cheap property. Ideally, I'd like to have homes in both locations someday anyways. So rather than continue to be only a renter, I was thinking it would make a lot of sense to purchase a place there, and rent a cheap apartment near my work. My lifestyle would allow this (no kids etc), and I make enough money to afford the mortgage and rent (and still qualify for a loan). BUT...I was told by a real estate agent that it is very unlikely that I would GET such a loan, even with the income, credit rating and down payment. She said that lenders don't give first time homebuyers loans except for a primary residence, and a home 3 hours away where I didn't spend at least 51% of my time would never qualify as a primary residence. Is this true?? It seems silly that the bank would endorse the opposite strategy with ease (buy locally and rent remote) but I could never afford it, and yet I could afford it my way and can't get the money. Anyone have any insight? Thanks!
Open Question: IM OVER MY HEAD IN DEBT... CAN YOU ADVISE WHAT I SHOULD DO?
I owe 117,000 on my home, I owe 36,000.00 on a second mortgage... and owe $15,000.00 in credit card debt. My Yearly net wage is: 48,880.00. PLUS my tenants pay $650.00 per month. YET I cant seem to make ends meet. WHAT ADVICE can you offer? Do I need to file BANKRUPTCY?? I cant afford to purchase food or medical for the household anymore...
Please let me know my options. Your thoughts and advice is greatly appreciated.
OK.. If Im over my head in debt.. should I file for Chapter 13 or Chapter 7??? I don't wanna LOSE my house!!! HOW do I file for Chapter 13? Do I need an attorney on MY BEHALF??? Please tell me DETAILS OF HOW and WHEN I should file. ALSO, do I need to file against ALL my creditors or only the ones I choose? Your imput is requested here.. please leave me your email address for further discovery.. Thanking ALL who responded!!
Open Question: Will my credit effect if enquiries are made to procure home mortagage loan?
If more lenders check the credit history for home mortgage will that effect my credit scores ?
Open Question: reinstatement on a foreclosure?
how long does it take from the time i fax my papers in to my mortgage company for them to reinstate our home loan? i've heard everything from 5 - 35 days.
Open Question: Should we try to get pre-approved for a mortgage now or wait and continue saving?
Our take home pay is about $4350 per month. We pay about $300 in credit card bills and about $170 in school loans every month. We have no other debt. We have about $5000 that we could put towards a down payment/closing costs. Should we even try to get pre-approved for a mortgage, or will the banker laugh in our faces?
Open Question: Having trouble paying my debt/home loan?
Ok i am close to foreclosure now cant pay my mortgage. I am upset lost my high paying job... I need a fuel pump for my 07 Corvette going to cost me 3k. I need 7k more for my boat to set at the marina this year. I have to downgrade to a king size suite at the Hilton when i go to Hawii next week instead of staying at the cottage at the beach. Had to sell one of my ATV's and i only can afford to give my daughter 3k a month while she is a school this year. I am screwed.
Open Question: I have an excellent credit score. However I only possess one major credit card and two department cards. ?
I am planning to purchase a home in a year or so. Would it be in my best interest to get rid of my department cards and apply to a couple more major cards? I believe my score to be in the 750s, and would like an added 25 points or so by the time i take on a mortgage.
Open Question: I cannot sell this mobile home and want to have it foreclosed on?
I have a mortgage for a mobile home with 21st mortgage, i am trying to sell it but am getting no hits because i refuse to take a loss on it. I owe 30000 right now on it and want to get another home. my question is if i buy a home and keep this one, once all is finalized and cleared, what would happen if i just stop making payments on the home. i know it would default and foreclose and the home would no longer be mine(which is my goal to begin with), and i know it would go on my credit which i do not care about because we never take out loans to begin with, once we are approved for this mortgage we will be there for at least 7 years i am sure and by then it will be off my credit. aside from credit and home possession is there anything else that they can do? also i own a business, could it effect the credit for the business at all?
Open Question: Is it possible to get a mortgage with little or no credit history, a decent paying job and about $30,000 down?
I have had a job for 5 years full time, working through college and University. Now getting Masters with a good full time job with excellent pay. Unfortunately no credit history as I never needed credit until now, I would like to buy a home. I saved up a bit of money whilst at University a little over 30,000, can I buy a home?
Open Question: If I borrow money for deposit towards buy to let mortgage, is that interest is also tax rebatable?
I am planning to buy a buy to let property. I am raising money from my residential home to put deposit of 25 percent. I am aware that i can claim tax for the interest on buy to let mortgage. What i want to know is whether i can claim tax on the interest I will be paying for the deposit money as well.
For example, £100,000 property. 25,000 raised from my current home. Say i pay £200 interest towards that.
75000 mortgage for the buy to let property. 500 interest. Rent is £750.
a. If i can claim tax for both the interests, then my tax liability is only£30 (750-(500+220)). (For this calculation i have ignored other tax benefits).
b. interest on deposit is not tax claimable and my tax liability is £250 (750-500).
Which scenario is correct.
Many thanks for your help
Sen
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