Personal financial statement?
Friday, 13. August 2010
Does home equity loan belong to Note payable section or Real estate mortgages section in liabilities?
Easy Home Equity Loan
Home Equity Loan Information
Friday, 13. August 2010
Does home equity loan belong to Note payable section or Real estate mortgages section in liabilities?
Wednesday, 11. August 2010
I purchased this house two years again in bay area the value has dropped 30%. My current loan is fixed 30yr 6.125. We both have jobs so far.
1. If I can take advantage of any loan modification program giving the real estate is getting worse or worse
. 2. If not, I want to refin to bring down the monthly payment.
I do have another house that has equity that I can get 250k no problem. is that ia good idea? I keep heading people saying don’t refin unless I am in AMT program. Can someone list to pro and cons .
thanks.
LW
Thursday, 8. July 2010
I am a private investor, I invest in stocks, small businesses, real estate and commodities.
I need money to expand, and I don’t want to get loans because I like to be debt free.
I know that I can get money from relatives and friends, that would be called also equity financing, but I was wondering if there is any other way for other people to invest with me.
Is forming partnerships the only way to go?
Wednesday, 30. June 2010
Here is what I’m interested in doing … have an eye on a great condo, list prices were around 0k a few years ago, but they are just building and did it right during a down turn in real estate in the area. As a result they dropped the asking price to about 5k. We got a good walk thru with a realitor and she said cash is king here and if they have a cash buyer she knows they’ll likely settle in around 0k just to move the first few units (they build them by the entrance and that was a bad choice!)
So … my credit isn’t going to help with a conventional loan since it can’t be an FHA loan since the project is only about 15% complete and apparently they must do conventional loans for until the project is further along (that’s what the told us, so it was limited to 1 bank) …
Now to the point, I have a relative who may have around that amount in liquid finances. Can they "lend" me the money to purchase the condo and in turn I would then take out an equity loan to repay them? It should appraise at well over 0k and all I would need to to is pay them back to be free and clear. I’m guessing we could even wait a little while to pay them back (build credit up higher?) but I’d like to do that sooner than later.
What are my limitations? Is credit going to bite me on an equity loan if I own outright? Any resources, tips, info would be appreciated!
Monday, 28. June 2010
I need to stay at home temporary because of my mother’s health, but I also need a monthly income. I have equity from the sale of my home, should I invest that, and get a 100% real estate loan for a home? Help!!
Thursday, 24. June 2010
I know very little about real estate. However, I do know property management.
This is my current situation: I rent a 3 bedroom house for 50. However I have roommates and only have to pay 500 (share room w/ bf also, but I don’t depend on that.). All of the financial responsibility is on me, since the lease is in my name, and I have done this successfully for over 3 years. (Note: I live in Los Angeles.)
I’d rather buy than rent, and build up equity. I have a friend that can get me a very low interest loan. If I buy a duplex or triplex, and rent out the other units as well as any spare bedrooms, would I be most likely be making a monthly return?
Also, is it ridiculous to consider building a guest house in the back yard (if there is one) to have another unit to rent out, or is the cost too high?
If I have a loan is it absolutely necessary to have a big down payment, and if so, what would be the required on a 0,000 property?
10 POINTS TO THE FIRST BEST ANSWER, Thank you.
Saturday, 19. June 2010
I helped buy some real estate for 310’000.00 with the promise from a friend that I would be on the deed to then house. 2 years later I found out that he never put my name on the deed to the house because as he says " no home loan agency " would give us the loan because I owned a special needs trust fund. do I have any rights to the house? Or should I ask for my money back that I put forth towards the equity of the house?
Friday, 18. June 2010
Yesterday’s Wall Street Journal had an article about Fannie May and Freddie Mac experiencing vulnerability due to the mortgage/housing market. The article quoted an analyst as saying, "We are seeing unprecedented foreclosures and declines in home prices not seen since the Great Depression."
For those who are blessed with great equity in their homes and the ability to pay their mortgages, should they be selling their homes? Do very prominent real estate experts expect a major depression that would affect not only the housing market as well as jobs? If so, it seems the only way to somewhat insulate oneself from a housing disaster would be to own your home outright, have virtually no equity (thereby no financial loss), or sell and rent.
What about those of us who don’t have subprime loans, can pay our mortgages (in a relative stable economy) and don’t want to sell? What are some of the well-known financial advisers like Suze Orman and others like "Wall Street" saying?