Archive for November, 2009
Friday, November 27th, 2009
Lou asked:
We’re trying to get a first mortgage for the equity we have in our home. My husband built our home so we’ve never had a mortgage. We want to use the money for some financial security but this is not the answer the bank wants. What do they want???
Tags: Equity Loan, Financial Security, First Mortgage, Money
Posted in Renting Real Estate | 11 Comments »
Friday, November 27th, 2009
Sam asked:
I would like to build my miniature cow business and I only have three females. These cows are easy keepers and very cost effient. They can be butchered to receive about a half of beef which is more logical to most peoples freezer space. They are more docile and do not require the fencing and food comsumpion of a full grown. It take very little area and pasture to keep them. Most think they are raised for pets. They can be very useful for grass mowing and well as food supply.
Tags: Cows, Females, Food Supply, Freezer Space, Starting Business
Posted in Small Business | 1 Comment »
Thursday, November 26th, 2009
angelinairvin asked:
I have property that can have a house built on it. It is ready for construction. but my credit ***** and i have been going back and forth with the credit agencies because half of the stuff on my credit is not mine one credit place fixed it equifax so my equifax or experian report is clean and i got turned down not because of bad credit but because there wasnt enough on my credit?
no i dont want to build on it. I have a home that I live in. I only owe 3000 then it will be mine. I want to get a loan to pay it off and do some home improvements I have no desire to build on this land. But its well worth 25,000 to 30,000 and I am looking to borrow about 20,000 after I finish my home improvements im going to use what is left towards paying back the loan.
Tags: Credit Agencies, Desire, Equifax, Home Improvements, Secured Loan
Posted in Personal Finance | 5 Comments »
Thursday, November 26th, 2009
Christopher G asked:
I am looking for a 100% loan for a 3 unit townhome in pittsburgh. We just used our cash reserve for another building and this one came up. We dont have any money for another downpayment. Does anyone have any ideas or suggestions? I have other props that have some equity in them, but not enough to take out because they are rentals also. The building is only around 60k and my credit is so so 630ish. I hope to stay away from hard money, but am willing to pay a higher rate, I could refi in a yr and bring that down, I would like to keep points as low as possible. But this would have tobe a $0 down deal. I know I can try to get the seller to carry a second. Just trying to make it a little simpler…
I agree… That was a very poor answear… 85 to 90% resisidential LTV is usually the max and anyone knows this is still classified a residetial… Im sorry that is my biggest grip with this site the amount of people who try to give advice but end up with wrong info… I already know I am in a tough perdicament… otherwise I wouldnt be asking for any suggestions… Im sorry that sounds harsh… Im just trying to get some ideas outside the box or if anyone has seen any programs that would allow me to use my other property as security with a second.
Tags: Classified, Hard Money, Ltv, Perdicament, Props
Posted in Renting Real Estate | 2 Comments »
Wednesday, November 25th, 2009
bbydol221 asked:
So when we get a building loan, we understand that we don’t have to start paying back that loan until construction is finished, correct? So, can we just have the house almost finished, then delay it a little until our house sells, then finish building? This way, we won’t have 2 mortgages.
Tags: Building Loan, Mortgages
Posted in Renting Real Estate | 1 Comment »
Sunday, November 22nd, 2009
Janice K asked:
The rental officer/manager/leaser in the building would go into people’s rooms when tenants are not in and check if the rooms are tidy. She would sometimes tell me to clean up my room. I was offended that she would just open the door without my permission. As my understanding the building staff has no rights to enter a room except for maintenance purposes.
Just now she knocked on my door, asked if she could come look at my room, because the building has very strict policies about cleaniness. My room has clutter, but has no odor, and not dirty at all that would in anyway attract insects. To my surprise she asekd me to loan her $70 for her new glasses and she would give me back later. Of course I said no.
Can I file a complain about her?
What do you think her motives are for entering people’s rooms?
It’s an apartment.
Once in a while everyone get a letter saying that oh, we need to check your fuse box, or something like that.
But then the building manager would tell me I needed to clean my room, that’s what the inspection was for.
I suspect my room is being checked once a month, but without formal notification from the management, because who’s going to issue letters telling tenants they are going to check for cleaniness?
Tags: Glasses, Leaser, Maintenance Purposes, Motives, Surprise
Posted in Renting Real Estate | 2 Comments »
Sunday, November 22nd, 2009
hearts femme fatal hearts asked: I ran my credit report and I want to start paying off my past due balances. How do I find out where to send my money. Do I need to hire a lawyer?
Can I build credit if I still have past due balances and collection accounts?
Tags: Collection Accounts, Due Balances, Find Money, Lawyer, Send Money
Posted in Credit | 6 Comments »
Sunday, November 22nd, 2009
sarah w asked:
If a large amount of raw land in a prime location is going to be marketed with cap rate scenarios (resort hotel, mobile home park, storage units, campground, shopping center, business offices, etc.), how could I find information on each of these scenarios? This information would have to include a rough estimate of building costs, loan information, rents, taxes, etc. Is there any way to get this information more easily than spending countless hours on dead ends? PLEASE HELP!
The information would be to help potential investors decide what to do with the property.
Tags: Business Offices, Cap Rate, Countless Hours, Home Park, Scenarios
Posted in Renting Real Estate | 1 Comment »
Saturday, November 21st, 2009
AJ asked:
I just need to get a loan for some personal reasons, I am sure the bank will ask, and I am going to tell them medical bill consolidation, but I just want to see if I should wait, and build before applying. I am in a bit of a hurry, but the amount is only $4000.
Tags: Credit Score, Hurry, Loan Personal, Medical Bill, Personal Reasons
Posted in Credit | No Comments »