Tag Archives: investment property

MORTGAGE UNDER WATER: SHORTSALE OR FORECLOSE? OR REFINANCE?

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How do you transfer your house under another family member’s name in order to refinance it?

My sister owns a house. The house is in Arizona, but she lives in New York. She’s stuck in a CRAPPY ‘interest-only loan’, and our mortgage is underwater. Now they said that she can’t re-finance it because it’s an investment property, and the person must live in the house to refinance it.

I’m her younger brother and I’m about to get married. Me and my fiance are looking for a place to live. So we were thinking of moving into her house, and then refinancing it.

So would she have to ‘sell us’ the house? Gift it to us? can she just add one of our names to the mortgage? and then when we move in, it’ll be considered ‘owner-occupied’, so we can refinance it?

thanks for your help guys!


will she give me a second chance?

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my partner and i are having a break from each other and ive got some issues to sort out for myself first,weve been together 14 years and i dont want to lose her,and will change my life around completely for myself&her(getting helo now)we are still at the moment(only been a week)paying a investment property off and my stuff is still with her at our house,she says she needs some time to sort herself out and it makes her sick when i contact her with my raw emotions,crying,nervous,etc.im truly in love with her and i think that deep down a little fire off me burns so what should i do?i know give her space but will it be forever?i cant help but i will trying to not contact her,to give her the respect off her request,i just long to be with her there is a lot off good between us and i hold onto hope every second off the day but it is so painful to think she mightnt give me the oppurtunity to mend our beautiful existence together on this earth.


does anyone else who rents a house gets frustrated by their real estate?

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Our rent’s always on time,we have made improvements to the house and garden (eg: garden beds,garden path, cubby house,carpeted top stair and made minor repairs)yet when we want something repaired it takes them months to get around to it.at the moment our shower exhaust fan is out of action ( think: mould and peeling paint) and we have requested a stair rail as 3 people have fallen down our slippery stairs already.the real estate rep keeps saying that they are in the process of getting quotes.
in our first rental it was so bad there was a cracked pipe which leaked water everywhere, they went as far as saying it was our brandnew washing machine which was the problem, THEN the owner couldn’t afford the repairbill and put the house up for sale (yes and they even tried to sell the house to us!)
on the flip side i have a mate who owns an investment property managed by an agency.the rent is always late,she’s had to make numerous major repairs yet she’s not able to evict her tenants.
am asking for advice on getting a pro-active result from my real estate or similar experiences i can relate to.
location:sydney-west,autralia


The Bank loans officer lied about the interest rate & the locked in lower repayments on my home loan !?

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I recently refinanced with the National Australia Bank at North Sydney on an investment property, previously mortgaged with a non-bank lender. At the time of application I was assured the interest rate was locked in at the "introductory rate" of 6.99%. The loans officer set up my repayment schedule at 0.00 per fortnight to cover the monthly repayments. I found out today that this amount was insufficient and that the rate was variable NOT fixed and will be increasing. I was assured this would NOT be so ! Please advise me how to proceed with a misleading loans officer who lied to me and set up an insufficient repayment schedule ! Am I really liable for their mistakes ?


prenup agreement?

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im only 18 so im not planning on getting married in the near future any time soon but i do plan on getting married. anyway i am going to buy investment property in a couple of years and i would like to start my own business after that and keep expanding with investments but when i get married it is going to be hard to tell her i want a prenup! any women out there had their husbands ask for this? how did you handle it? i really really dont trust women with money and assests i dont care who it is i do not trust women in that area (my mother would be the only one). would it be a good idea to put all of my assests and my business in my mothers name when i get them? that way when something happens it would go straight to my mother because it is in her name right? then that way i wouldn’t have to ask for a prenup, true or not? any other alternatives?


financial help, re: borrowing against a home?

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in 2006, i built a new home, my first home.

i’ve almost paid off the loan, to own it outright. its worth roughly 0,000 – 0,000

im looking to build again (as an investment property) wen i have finished paying off my loan on my existing house. but to do that one needs money, i know its possible to borrow against an already established property. but that’s my question,
- how or where do i start.
- r their any little traps i should look out for.
- can u suggest an easier way for me to do this?

i earn 41.00 per fortnight.
ive got no other loans or responsibilities, as im single and live alone. (long story that one)
ive only got my credit card which has a 00.00 limit.
i currently pay 0 a month off my home loan, 0 per fortnight.

after my loan repayment and fortnightly expenses i also save 0 a fortnight.

in conclusion
i earn 80 per month
pay 0.00 on my home loan
save 0.00 per month

can anyone offer me a way to build my second home, so i can rent it for 12 months, then sell it.


Buying a house and getting second mortage?

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We are buying a investment property for my mother in law to live in , its our first mortage, and we wish to buy a block of land 100 acres and build a dream housefor husband ,me and four kids , we have been given approval for the first loan, 5,000 thats the house price, how much do we need to pay off the first property before they will lend another 0,000 for the 100 acres we want, husband works full time and i run part time business from home and earn more than him! we budgeted to pay extra mortage to have house paid in four years
iam in nsw ,australia
thanks


Can i get approved for a Mortgage at competitive interest rate if i have a bad credit history?

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I’m hoping to buy my first investment property. I will doing a partnership with my partners father but i have recently found out i have been credit listed for failing to pay a credit card installment on time.
the debt has since been paid so i have no credit cards and my car loan has also been paid off.
my partners father has no bad credit history and owns a house worth 0,000 which has been paid off and he does not have any other loans. we have approx ,000 deposit. The cost of the investment will be approx 0,000

i would like to know if i will have problems getting the loan due to my bad credit and if not will i still be able to get a loan at a competitive price and not a bad credit loan which usually incurs higher interest rates taking into consideration the joint application, existing house as a guarantor and large deposit

Thanks


How can I claim Depreciation for 206 day of 365 days.?

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Hello,
(1)Investment property in WA settlement on 7th Dec 2009 Should I claim Landlord insurance premium for 206 ? Or we can claim full premium?

(2) We have got Depreciation schedule for the property.
Claimable depreciation for year 2009-10 is 00. I think I can not claim 00 but it should be
8500 X 206/365 =97.26
Please advice what we should claim 00 or 97.27?


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High School Maths Question. Will Choose Best Anwers RIght Away?

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Oscar bought an investment property for 0 000. He paid a deposit of 10% and borrowed the rest from the bank at 7% per annum simple interest. He leased the unit to a tenant for 0 per week.

If Oscar pays annual rates and maintenace expenses of 00 and monthly loan repayments of 50, calcuate his total annual income from the investment property.

pls help me solve this… (i need clear working out too..) i’m waiting by the computer. will choose ba as soon as i can thanks