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Search: "First house"

 
 

Asked 08/11/2009 12:20 pm CT (Camden, NJ)

hi i am currenly looking to buy my first house i have an icome of 30000 my wife bring about 40000 but have a defalut in his student loan can we have a mortgage togerther i dont have credit .i want a mortgage of 150000 or do i need co sign and can i have a joint income with my wife or it is wise to go it alone

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Asked 11/11/2008 01:18 pm CT (Waterloo, IA)

My husband and I are currently renting a two bedroom house, but 4 months ago we had our second child so we are now looking to BUY our first house. I have poor credit and my husband has no credit. We are current on all of our bills and my husband just got a new job 3 months ago. My husbands take home pay is about $3200.00-$4000.00 per month. I get paid an hourly wage, but also make commission which makes it so i can't prove my income but I bring home about $1200.00-$1600.00 per month. My husband did have a judgement against him because someone didn't pay a bill they were suppose to pay- but we are now paying it. We need to move to make room for our family.

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Asked 10/29/2008 10:11 pm CT (Sacramento, CA)

I want to buy a home that is being sold as a bank owened property.. it is through a realestate co. I am in the process of trying to sell my first house but this is a short sale on the other ... I dont have money for a down before sale and they wont do a contingant. could I get a second morgage to cover it? we owe 141,000. ( worth 160,000-180,000) on my home now, the other home is only 92,000. we could afford both morgages untill the sell of first but like I said no money for that down... and how to get anouther loan still oweing on first. what are my best options??

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Hi Crystal, It appears by how you describe your situation that you may think about receiving a Gift...

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Asked 04/17/2008 10:19 am CT (ELK GROVE, CA)

My brother who lives in Elk Grove, CA purchased a house a few years back, then he decided to purchase a second house with the family money. I believe the interest on the second house is fixed. I am sorry, I don't know about the details. All I know, he and the whole family are really pressured due to work and finances. He hasn't been able to refinance the house due to severe real estate problems. He was thinking to give the house to the bank, but as you may know, he will still owe money to the bank and we will lose everything. Are there any creative way for us to be helped? Do you have any suggestions? He is thinking to move to the first house where we had a tenant. The tenant will move house soon, and they are going to move in and he is planning to give the house to the bank. As far as I know he still will owe money to the bank because they will respect the contract which was signed a few years back, even though the purchase price is very low at the moment. If you have any suggestions, please let me know. Regards, nasi

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One option might be to do what's called a "short sale" of the home where the lender might approve a ...

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Asked 12/12/2007 04:28 pm CT (Hoffman Estates, IL)

My husband (prior to us being married)bought a house 7 years ago and due to a job change, moved to another state in '05. He put up his house for sale at that time and wasn't able to sell it. In '06, he rented it out to a couple who were supposed to do a rent to own. Based on this, we signed on to build a house together in the state we are currently living in. 6 months into it, the renters stopped paying rent. He had to evict them. They trashed the house and we had to spend about $5,000 getting it back into selling shape. He put the house back on the market in Feb. of this year. The house wasn't selling still so he took it off the market and tried to rent it out again. No luck. Meanwhile, we moved into our new house in July and could no longer pay the other mortgage so he told the bank in October that he would no longer be able to make the payments. He also has a home equity loan on the first house. THe bank told him to put that house up for sale again and lo and behold, we got an offer. The offer is at a loss(due to the home equity loan, of which we would not be able to pay about $22,000 of with the offer we got). We figure we have to take the offer because this is the only offer in almost 3 years that we've gotten. My question is, is it better to short the home equity loan or pay off the home equity loan with credit cards? We are going to have to refinance our current home in about 5 years as one of the loans that we have is an ARM so we are wondering which is going to hurt us more, the shorted loan that much more credit card debt? Please help. Thank you.

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Nikki, There are several issues here to consider. First, generally speaking you would probably b...

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Asked 11/13/2007 09:36 pm CT (san pablo, CA)

ive just recieved this mailer by a company called apf/ov.They are offering some kind of program called a NAPF program what is it??? ive been searching online for a web site or other info but they had neither a site or info on the program.We are in a BIG problem right now with our mortgage the 5yr fix prematurally ending after 2and a half years of paying and we are paying more than quadrupale the amount we were before and no one will help use!!!.They only gave us 3 options pay,forclose,or sell..Those options are hard we have a big family of 13 and mostly all of them are children and we owe more on the house than what it is worth!!..The peron who signed the loan for us didnt tell us about this happening or anything else she just wanted her money and didnt care if she screwed peoples lives up...we were uneducated because this is our first house CAN SOMEONE PLEASE HELP US OUT!!!

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Hi Chris: Sorry you got involved with a lender that did not explain te loan program you bought. If ...

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Asked 12/06/2006 01:07 pm CT (staten island, NY)

My wife and I are starting to have interest in buying our first house however my credit is less than stellar(mid 6's) and her's is excellent (over 800). I make a good living at about six figures and she is a stay at home mom. Will this be enough to get a mortgage? And how much could I expect to get approved for?

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Larry, As a very approximate rule of thumb, you can easily borrow 2 to 3 times your total gross annu...

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Asked 11/28/2006 05:41 pm CT (Las Vegas, NV)

I am currently looking to move out of state to Washington. I want to purchase my first house. I already quit my job in anticipation of the move (as well as other issues). What are my chances of getting a home loan on my own with no job, about 600K in the bank (I don't want to buy the house with cash) and decent credit. Will I need a co-signer who has a job first?

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I must concur with Darrell Justin Coleman

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Asked 07/16/2006 07:53 am CT (toledo, OH)

hi, my husband and I bought our first house about 10 months ago. On the day of closing we found out that I was pregnant with our third child- a little unexpected. Anyways, we purchased the house knowing we would be comfortable with our payments because we both worked full time. During the pregnancy I had to cut my hours down in half then I had an unexpected c-section which put me further out of commision from work. Now the baby is 3 months old and we have already taken one house payment and spread it out over 9 months. However, we are so behind on everything that i'm not sure what to do. Would we have an option of a second morgage to get back on track? The house was appraised at 11,000 more than what we bought it for. Furthermore, our rate was 5.85% can we refinance at the higher rate to get extra funds? Please help with any suggestions.Thank You

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Kristi, Jeff's answer is good, but I would consider selling before you put yourself in a worse si...

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