bargainsecrets asked:


My name was added on the house when my father passed and now my mother wants me to buy her out and take full control of the house. I am confused since my name is already on the house can I even get a mortgage. I have never bought a house before so am I techinally a first time home buyer.
The house is on zillow.com for 430,000 but she is letting me have it for 225,000 which is a no brainer. I just don’t know what I need to do. From what i have been reading i would like a 30 year fixed mortgage but I dont know if I even qualify for one.
I currently live in the house and the house has been paid off for years.

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stargirl asked:


I am starting a new job soon. I was on my prior job for almost 4 years. Will this prevent me from being eligible for a home mortgage?

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He Gone! He Gone! asked:


is foreclosed on, can or will the mortgage lender sue the mortgagor for the difference between what they can sell it at auction and total debt?

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amanda asked:


I’m buying a small starter house with my sister.
My credit is in the mid 700s and my sister has only had one credit card in her name (paying off monthly).
We have about $15k in savings.
I work part time, she works full time but only $7-8 an hour.
I’m fairly certain the payment will be less than the $555 rent I am paying now by myself, plus we will be gaining equity.

How was your experience purchasing a home?
I have a credit union, will rates be cheaper there?
What and how much fees will be involved? Inspector? I will not have a buying broker, but they are selling thru a realtor. Do I need a lawyer?

Please let me know the good and bad things you have encountered while buying your home. Thanks!

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triguyinla asked:


Do I have any other options? What is a short sale and is it hard to use this option? I can’t afford my vacation home mortgage and I’m thinking about walking away. Do I have a better option than this?

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Hint asked:


can they make me sell the 2nd property to pay the lien on my primary or does that just keep me from ever selling it without paying the lien off. lost my job, the second property is paid in full on the same street. in ohio.
it was a personnel loan, with 21k cash downpayment

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oscar asked:


I know that home mortgage interest payments are tax-deductible. What I dont know is when I take off the tax-deduction - is that something that can be done ONLY when I file my taxes at the end of the year?

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v.complex asked:


It’s a signature loan for less than $10k, I live in MD, and the company says it can foreclose my property in 30 days.

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berkeleygolden_bear asked:


My wife and I have been saving for our 1st home and have $125K liquid and an additional $120K in stocks for a home in SF Bay. My FICO score is 799 and we have a high combined income.

Here is the problem: About 5 years ago, she opened a credit card for her older brother who needed a credit card to pay for international work travel. He had very bad credit, so shockingly, he racked up $23K in charges, late fees and interest on this “emergency only card”. He stopped servicing the account last Dec, without telling her, and the account was just sent to collection agency, which is threatening legal action if we do not settle.

Questions: 1) How important is her credit report for our 1st mortgage (can we do it just on my score and income) and 2) what is our best approach for settling with the collection firm to best as possible clean up her credit record (e.g. we could pay the $23K tomorrow, but want to trade that for a clean credit record, or the best possible outcome)

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Katie asked:


please help me. this is for college applications.

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