FHA loan and breach of contract……?
My hubby and I are trying to buy a home. We have chosen a very nice home at a reasonable price. However, the home was purchased and flipped in July. There are flipping regulations for FHA loans. In addition, we have already made an offer the [...]
Mail this post Pay mortgage or put into savings account?
I am lost…
I have about $1,500 to $1,000 at my disposal (after paying all bills) and I don't know what to do with it. I have 2 options:
1. Pay off my mortgage on top of the payments I already make or…
2. Put into a savings account that pays 3.75%
Please [...]
Mail this post Seller financing, in whole or in part, has been used since the first time a homeowner decided to sell and could not find a buyer who could afford the house. In recent years, however, with the easy credit of subprime mortgages and 100% or more loans, seller financing had fallen on hard times. Today, however, [...]
Mail this post The mortgage rate is the interest rate on a mortgage loan. It can be defined as the price that a borrower pays for a loan that enables the borrower to purchase real estate or any other real property. As per the mortgage contract, the title of the property belongs to the lender until such time [...]
Mail this post Considering buying a home on contract,good deal?
We are considering buying a home on contract because we don't have good enough credit to get a home loan.We would be putting $10,000 down on a $100,000 house.Our payments would only be $650 a month (after a lot of negotiating!!) but our interest rate could be as much [...]
Mail this post There is really no other way for homeowners to get out of foreclosure than to deal with the defaulted loan on their home. It is because they have a lien on their house and the property has been pledged as collateral for the mortgage that they face the loss of their home. In essence, all [...]
Mail this post Should we buy a house under “Contract for deed”?
We're really interested in a house. We just noticed on the MLS listing page that it says “Contract for Deed” next to Terms. We're not familar with this so we did some internet research and it sounds like it isn't for us. Still, we love this house, [...]
Mail this post Visualize this scenario: After previewing several houses with your real estate agent, you’ve finally found the perfect house. A real estate contract has been drawn up and signed by you (the buyer) and the seller. But alas! You encountered a problem – your mortgage application was disapproved. Can you still get out of the real [...]
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