My husband wants to sell house, I am on the deed too, if I don’t want it to be sold, can it? even if he says he going to put it up for sale, and we are married now??
He makes all house payments, I’m home with the kids, he’s in another state in the millitary, he is threatening this, (divorce soon for abuse) I want full custody, he wants me to feel scared about not having a home, he makes a good ammount of money! very abusive, I just wanted to know what my rights are with the house too!

Real Estate Professionals

There are many misunderstandings concerning the issue of foreclosure. Unfortunately these misconceptions have lead many homeowners to take all the wrong actions in trying to stop the foreclosure process, which ultimately caused them to lose their homes. Below are a few of the myths that seem to persist regarding bank foreclosures.

The bank wants your house so they can resell it.

Nothing could be further from the truth.

The bank almost never wants your house; they want the money you owe along with interest. Typically banks usually hate going through the foreclosure process and will bend over backwards to work with homeowners in avoiding a foreclosure.

The bank won’t my payments. I’m all out of options.

The bank wants you to bring your payments current. Period. Remember they are in the money business. The interest on your loan is their lifeblood. All is not lost however. If this isn’t practical for you then a mortgage negotiation professional can set up a plan for you to pay just a portion of the arrears, set a plan to pay future current payments and catch up on the remaining arrears over time.

The foreclosure notice was delivered today; I have to start packing

Depending on your state of residence you may have a very long foreclosure process. This may give you several months, if not longer to move. Remember that you have to find a new place to live because eventually you will be physically removed.

I’m in foreclosure, no bank will refinance me out of this foreclosure

This depends on the amount of equity in the home and its Loan To Value ratio. If that ratio is right there are specialty lenders who will pay off your current lender and hold the note.

I’ll just file bankruptcy and save the house

For starters this isn’t as easy as it once was. Bankruptcy laws are getting tighter and deliberately more difficult. A chapter 7 bankruptcy will stop the home foreclosure on a temporarily. The caveat is you need to do something else to keep the house in the long run if you are facing foreclosure.

The bank has our house so we can wash our hands of the whole affair.

This assumption has come back to haunt many people. If there is a deficiency you may still owe the difference plus any interest even though you no longer own the home.

I pulled off a minor miracle and got all the money I owe the bank to bring me current, but I’m afraid it’s too late to stop the foreclosure process.

Wrong. In most states if you have all of the money you owe the bank they have to take it and stop the foreclosure. It is the law, and besides the bank doesn’t really want the house back in the first place.

My house is gone and I can never buy it back.

There may be hope. Some states have redemption rights where they can keep the house if they can pay the bank off in full, principal and arrears, within a limited time period.

They get to keep all my stuff once they take the house.

The rule of thumb here is if you can carry it away it’s yours. You keep your personal property, but permanent attachments to the house should stay. Dont turn it into an issue by taking everything from floor to ceiling. That will just insure trouble.

The bank started this process. They can’t expect me to pay legal fees.

They do and you will if you want to keep the house. The amount will vary depending on what is contained in your mortgage agreement.

There’s nobody to help me stop my home foreclosure

In this you have more help at your fingertips than you might imagine. Many methods and many professionals can help you avoid foreclosure.

These are a few of the rumors out there involving foreclosure. The best advice is to contact a foreclosure prevention specialist and allow them to handle the process.



Quick House Sale

I’m considering hosting an auction to sell my house; that seems like an interesting option.
I would like details outlining how this is done.
Thank you.

Quick Property Sale

i have to auction off my house within the next three weeks. how can i set this up the quickest and with assurance the company is reputable and honest and legally compliant?

Real Estate Professionals

A good way to get a cheaper home is to buy one that has been repossessed. How do you find one? Looking in the foreclosure listings will help you. You can find these by looking in your local newspaper and on the Internet. You can also go through an agent. Websites give you a comprehensive list of repossessed houses. You can get lucky and find local ones but it does take a little time. Sometimes it is wise to sign up for a mailing subscription, which will allow you to get updated properties sent to you each day. This will make sure that you are always aware of new properties and options.

Online websites are very useful. They will give you all sorts of different foreclosure listings. This will include HUD, Fannie Mae and regular repossessions. This is your chance to find homes at real bargain prices. It can mean that you will be able to buy a home, at lower prices, that you would never have been able to afford in the normal way. Of course this does take a little time, as mentioned and this is the only problem when you look for repossessed, cheaper homes yourself. In view of this you may want to contact a real estate agent. They are aware of the ins and outs of the profession and will help you get the best deal without getting cheated.

Real estate agents have additional foreclosure listings that will allow you to have a greater choice. Some of them are special agents for HUD reposed homes. This allows them greater access to these types of houses. They can show you the houses and point out the different aspects of the homes.

Some of these repossessed homes are in need of repair, a real estate agent can advise you about this. Fanny Mae homes’ prices are sometimes negotiable and your real estate agent can help you to get the best price. Be honest about what price you can afford and have a reasonable idea of what you want, when you talk to your real estate agent.

Before contacting a real estate agent take a look at the websites online that are offering foreclosure listings. They will have pictures of the houses and you can get a good idea of what you want and also the price ranges. Pick out a few in your area and see whether your real estate agent can show them to you.

There are lots of good tools online to help you with your choice. There are maps of the areas the houses are in so that you can gage the area a little and you can go to see the houses yourself. You can apply online for a home and even get pre approved for a mortgage.

So do not give up when you see the high priced houses in your area. Look in more depth to find foreclosure listings and find the home of your dreams, one that will not cost you an arm and a leg.

It would be quite unjust to have any kind of doubt about the importance of the foreclosure listings. If you take much interest in the field of real estate, or even if you are a professional in these fields, the foreclosure listings are to you what the menu cards in the restaurants are to the customers. Just as you cannot decide what dishes you will order if you do not see the menu card, you cannot deal with the foreclosure affairs if you do not consult the foreclosure listings.

If you do not have any idea about the foreclosure listings, you must be wondering what purpose is served by the foreclosure listings. Here we are to let you know what they are for and how important they are for you if you are a professional in the fields related to the real estates.

The foreclosure listings will provide you with almost all kinds of information about the distressed properties and also about various kinds of announcements regarding bank home sales, pre-foreclosures, foreclosures auctions, and many other events in these fields.

The vastness of information will offer you the opportunity of judging the price of the real estates and compare it with the market value at that time. As a result, you can have the scope to acquire the foreclosures at a much cheaper price in comparison to the market price.

There is also another benefit of consulting the foreclosure listings. The real estate information provided by the foreclosure listings are thorough and all encompassing. The foreclosure listings are prepared following a thorough and systematic research in each and every state. So you never need to restrict yourself within a short area or within any particular state.

The foreclosure listings are also important for you even if you are not any professional in the field of real estates. For example, if you are interested to purchase a home at a particular state or place, you may consult the foreclosure listings where you will be provided with ample number of houses and real estates which you can purchase. If you are particular about your budget, you will search for those real estates that will within your budget, without putting much pressure on your purse.

One more advantage of resorting to foreclosure listings is that they can be accessed online. You need not travel a long distance in order to avail information about the real estates to be foreclosed. If you have the scope to access internet, you may think that you have already got the required information.

What is even more interesting, the foreclosure listings sometimes even provide you with some very important tips about how to acquire foreclosures. You will surely need them if you happen to be inexperienced in these fields. If you apply some sense and some of the lessons that you have learnt while dealing with foreclosures in the earlier time, you can also have a clear idea about how much you are going to gain by acquiring some particular foreclosure. It is, therefore, always advisable to you that you must consult the foreclosure listings before you venture upon acquiring a foreclosure.



Quick Property Sale

In 2004 my parents bought a home and included my name on the title. (long story, doesn’t matter why). There was no mortgage, and I did not pay for any of the property. They sold the property in December 2007 (I did not get any money from the sale). Can I qualify for the first time home-buyer tax credit, or does my name having been on that title exclude me? Please provide your source if possible!

Rent Back Fast

A house is made of walls and beams, while a home is built with love and dreams. Both house and home have one ingredient in common, however, and that is mortgage. If your house is the substance your dreams are made of, mortgage payments may be fodder for several nights’ worth of nightmares.

Loan Term

In home loan lending, loan term refers to the period over which you must make payments. Different loans have different terms. The safest term to go for is fixed-rate mortgage. Under this type, your monthly mortgage payments do not change over the life of your loan. You may take your pick from a multitude of terms, such as 5, 10, 15, 20, 25, and 30 years. This article will focus on the merits of getting 30-year mortgage rates.

Advantages of Getting 30-Year Mortgage Rates

A 30-year mortgage is the granddaddy of all home loans in home loan lending. As a rule of thumb, the longer the loan term, the lower the monthly payments. If you get 30-year mortgage rates, your monthly dues will be so affordable you will have more disposable income for your living expenses. Furthermore, you will be able to funnel more money towards your savings for retirement, tuition, or whatever purpose you have in mind.

The good thing about having extra cash is that you may use it to make additional payments on your mortgage balance. This will help shorten the term of your loan.

Another benefit of availing of 30-year mortgage rates is that it is easy to get a loan approved if it comes with longer terms. In fact, with longer terms, you may even be able to get a larger or finer house. In home loan lending, long-term loans are often perceived as more stable compared to short-term loans.

Advantages of Fixed Rate Mortgage

Fixed rate mortgage, particularly those involving 30-year mortgage rates, are recommended because:

1. you know exactly how much you will be repaying every month, for the next 30 years. This makes budgeting easy.

2. even if rates skyrocket, your rate is locked in for the next 30 years. Your monthly repayments will always be the same.

3. you do not have to remortgage every two or three years.

Disadvantages of Fixed Rate Mortgage

Admittedly, 30-year mortgage rates are not without their drawbacks. Some believe getting 30-year mortgage rates is not in their best interest because:

1. if mortgage rates fall, the fixed rate given to you will be higher than prevailing rates.

2. fixed rate mortgages generally require you to pay an arrangement or booking fee.

3. longer-term fixed rate mortgages require early repayment charges during the duration of the fixed period.

The decision to go for longer-term fixed rate mortgages is one you should make with care. Prudence and well-timed monthly payments can be the two things that separate the house-rich from the homeless.



Sell House Quick

(I live with my parents & he’s renting). We’ve been looking for a while but nothing concrete has come of it yet. We’ve had a mortgage pre-approved but as we’ve not found anything the mortgage hasn’t actually gone through. Once the house is bought & everything has gone through without any problems, he’ll live in the house but I will be moving 200 miles away from home to live with my boyfriend of 2 years. The problem I have is that I don’t think I can actually leave my job & move away until everything with the house is complete because I think I need to be in the same job continuously & earning a certain amount to be able to borrow the amount of money required. Is it possible to get the mortgage finalised and through before we find a house so that I can leave my job & move in with my boyfriend or is that just wishful thinking on my part? I am worried that it might take another 6 months before we find a house…I really want to move in with my man & don’t want to have to wait until 2008!
Thanks people! I thought as much! My wage will probably drop by about 3k if not more. ( Guess I am just stuck for the time being. I will have a look at that link when I have more time, thanks again people!
In response to PJ, we could buy separately, however it would mean 2 lots of solicitors fees, surveys, etc! Putting our money together means a 3 bed house, buying separately means a studio flat each – so just not worth it! I can’t buy with my boyf right now as he has just started a new career & is still going through the training process so his wage has dropped severely for the time being, plus he already has his own house which he wants to keep as it is a good investment for the future.
This is purely to get onto the property ladder & so that I can invest my money into a very lucrative maket (providing the market doesn’t crash)!

Quick House Sale

(c) 2008 Parmdeep Vadesha

If you’re into bargains, you just might find a house auction an excellent place to start. There’s no guarantee that you’ll be making a killing. However, if you set about it the right way, you could well wind up with a home at a significantly reduced price, or a nice little rental property that will turn a considerable profit once it has been fully smartened up.

An auction is often the first place that most people turn to when they are looking for affordable properties. While there are numerous reasons why a property is put up for sale at an auction, the most common reasons are:

* The seller wants to quickly move to a new place

* The previous owner of the home has accumulated debts, or went through a bankruptcy or a repossession

* A housing association has decided to get rid of a property by selling it through auction

Compared to the usual method of acquiring property, buying at auction is a proposition that’s somewhat different. Once the hammer goes down you have already made a deal. Backing out is a no-no. Right there and then, you will be required to sign a contract, fork out a ten per cent deposit and complete the payment within 28 days of signing.

Therefore, before you go to auction and make a bid, you first need to get your act together and amass as much data as you can on the property you are interested in. You have to sort out your finances beforehand, as well as perform local searches and a survey. When you are sure about your property choice, instruct your surveyor and solicitor to discuss matters with your lender. You should also have a definite idea of the maximum price you are willing to go. Settle on a price limit, and make sure that you do not exceed it. After you have done these, you are ready to make a bid.

If you are going to an auction with the objective of finding a property that you could turn into an earner, there are some important things you need to take note of. When choosing a location, here are the things you need to take into account:

* What to look for: transport links, schools, hospitals, sports facilities, shops, restaurants

* What to note: social mix, local crime rate, parking, garbage collection, council tax rate

* Signs of growth: opening of new restaurants, bars or other business establishments

* The type of people moving in

An attractive property located in an area that’s preferred by many will ensure property investors strong rental demand and therefore continuous tenancy. If you want to take advantage of as much capital growth as possible, the first rule is to purchase property in a growth area. Experts sometimes consider suburbs situated up to 10 kilometers from a city’s main business district a growth area.

As the benefits of obtaining property at auction become public knowledge, more and more people are getting in on the action. The public’s attraction to auctions makes sense as it is always a good decision to acquire a property at bargain price. For property investors, going to auctions and obtaining property there may also be the initial step they can take if they want to build a property portfolio that would eventually provide them with a secure financial future.



Sell and Rent Back

If i quick claim deed an investment house to my son how fast can he resell it? We have a buyer and need to turn it fast so he can buy a house with the cash. There is no mortgage on the property and will sell for $30.000. Does he have to register the deed and wait or can he resell it with another quick claim deed? Also if it is a gift he should not have to show it as an income or should we make a loan contract with him to pay us back?

Rent Back Fast