I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time?
FYI – contract was signed with a builder. You can not qualify for an amount more than the appraised value, shouldn’t this be reason for them to take the price down? Also, since it is quickly becoming a buyers market, shouldn’t I be able to leverage that and negotiate with the builder? Any suggestions on how I can do that?

A friend of mine has been living with her boyfriend for 15 years. They meet the PA criteria for Common Law Marriage. They live in a house in her name only, which she is paying for. He drinks heavily, does not work (has not worked for over 5 years), and has lately started becoming very mean and borderline abusive. She has decided that she wants to either “force” him into rehab or just end things. He will not agree to get sober and she knows she cannot make him. But she has no idea how to end things with him. She has told him she wants to end it. But he will not leave. How can she legally pursue getting him out of her life without losing half of her house and everything she owns (remember, he has nothing. He is a freeloader) or turning this into an ugly situation where he gets violent and causes her additonal grief. Or is there any way she can force him to get sober?? I have no idea what to tell her.
Any help would be greatly appreciated. Serious answers only, please.

My sister makes good money and so does her husband. She just has bad credit. They both lost their jobs two years ago and got really behind on bills along with a new baby. They now both have really good jobs but they have bad marks on their credit. Does anyone know of a mortgage company that can help them get into a new mobile home?

expenses include all household and living expenses, travel expenses, entertainment and dining out expenses

I always have this stupid habit of doing things at the last minute.Probably thats what got me in this rut in the first place.

I sometimes lay out sunbathing topless on my stomach but always put the top on when turning on my back. My neighbor( boring prudish woman;) complained.
What are the laws about that? Would this be considered indecent exposure?
I own the house and there is a small fence between me and the neighbors but they can still see from their windows upstairs…Thanks for any info!

The banks get the most if not all the money back.

I’m a single mom. I have just bought a house with my partner of 3 years and we split every bill half ways, my half of the bills equivalent to what i was paying on my own. Now I have to claim him as Common law and this will not intitle me to any Child Tax Benifit. Without this I can not afford to take care of myself or my children. I will have to leave my boyfriend.

sell contract to other investors, I just started out as a BIRD-DOG found a mentor & company that will help me, did some due dillegence even pointed out some abandon buildings and a street full of house that maybe potential sales.I could not get in touch with my mentor for a week and a couple of days. I have to find more partners and mentors. I have to start all over again. where can I FIND SCAM FREE PROGRAMS or Real mentors whom will walk me threw deals. I thought Real Estate is a relationship business not burn your bridges business. I am looking to leverage myself to eventually partner and do deals on my own.(what is the fastest way to make money in Real Estate?) short-sales are 3 months? I thought about becoming an agent but I was told it my get in the way of doing certain things in Investing? I am honestly looking for a start, advice and building serious partnerships.
All answers will be very much appreciated.
looking for as much info about Real Estate/Creative Investing.
Thank you Precious for your answer!
Francis D, perhaps you did not read, what I wrote properly? I did free due due dillegence when asked, my time is not for free and took mentor/Investor to the area of the available properties meaning deals!!! in exchange for hands on experience and a small fee. If you look at it, the investor/Mentor would walk away with a way more bigger percentage than me. when you are the learning of course, the teacher walk off with most of the money!

I recently was the high bidder at a sheriff sale in Stark County Ohio. The owner will not allow anyone on the property for survey or appraisal. All that is available is the 3 court appraisals that were done but they are outside only. I tried conatacting the foreclosing bank and they are of no help. I cannot get the guy out of the property until I complete financing and I cant seem to get financed without the appraisal, any help would be much appreciated

What are the steps to repo? Yes there is a title like a car.

and subsequent collapse of the UK economy. I see news stories of redundancies, home repossessions etc and wonder if any one has actually been blamed yet?

I took out an auto loan for my brother to get a car last Feb. He failed to pay, so I took the car back and have been making payments for the last three months. I’ve listed the car for sale several times on Ebay, in the local newspaper, and now on autotrader with no luck so far. I have a new car myself that I am also paying on. I don’t need two cars and I can’t afford to keep paying for two vehicles. How will a voluntary repossession affect my credit since I am paying for another vehicle? Will it repair itself as long as I am paying on another car? I know that the bank will auction the car. If I pay the deficiency, will the repossession still go on my credit? I have very good credit and I really don’t want to ruin it, which is why I’ve paid on the car for this long. I am in the market to buy a house. Will a repossession affect my getting a home loan?

If you fail to make your mortgage payments, can the bank garnish your wages for the payments?Or do they just take repossession of the home and auction it off themselves?And if they just auction it and can’t sell it for enough to cover the remaining mortgage amount, can they come back and sue you for that, even if you no longer have access to the home?I’m asking because I need to know…if a person decided to deliberately stop making payments on their home mortgage because the home will not sell on the market quick enough and they have to move out of state, what are the repurcussions?(Besides bad credit)The goal is to just get rid of the house, regardless of the loss in profit from the sale of it, and regardless of how it will effect the homeowner’s credit.Please provide any information pertaining to this.

my parents helped my husband and i purchase a home this year. we have a loan agreement with them and have been making payments of principal and interest since june of this year. the loan is not secured on the home. the home mortgage interest deduction for federal personal income taxes requires that the loan be secured on the property. if i get the loan secured before the end of this taxable year, can i deduct all interest payment made this year even if they were made before the home was secured?

Trying to figure something out…

what are you going to do?

Last month I purchased a 150,000 from my in-laws, will this disqualify me from receiving the home buyers credit?

We have been looking for a fixer upper in our town for years. (We’ve rented the same place in this town for over ten yrs. Our landlord is awful but we’ve stuck it out.) We are in our late 20’s and are totally intimidated with the whole house-buying process!

I think we found a good choice at an affordable price (to us) of $129K. We might be able to cough up 10% for a down payment. My husband has been with his current employer for about a year or year and a half (prior employment was 6 stable years as an auto mechanic – new field is carpentry). He has little or no credit and is paid in cash. I have had minor credit problems in the past (5-6 years through 7 years).

My question is… do we have any shot whatsoever in securing a home loan as first time buyers? My mother has excellent credit (no current job, she became disabled due to her prior job) and said she is willing to co-sign, but I have no idea if that will help.

Advice, good or bad, would be most appreciated! Thanks so much!
I also wanted to mention that this type of fixer upper in our area is almost unheard of, and it won’t last. While I know we should work on building our credit, is there any possible way to be able to jump on this deal soon?

Lost it and were trying sale, but the person even though we have other proof we own the home seems to not trust us and wants us to get it, but we don’t got it, so is there anyway to get it fast, because the city is saying it could take 3-6 weeks and were supposed to be buying our new home in 30 days…