Archive for November, 2009
I have poor credit and no money, who would loan money for me to invest in flipping houses?
L H asked:
I am interested in purchasing investment properties below market value, rehabing them, and selling them as affordable housing. Is there a company out there that would finance me with a hard money loan or a bad credit/no credit loan?
I am interested in purchasing investment properties below market value, rehabing them, and selling them as affordable housing. Is there a company out there that would finance me with a hard money loan or a bad credit/no credit loan?
Posted in Investing | 
Tags: Affordable Housing, Bad Credit, Credit Loan, Finance, Flipping Houses, Hard Money, Investment Properties, Money Loan, Poor Credit, Purchasing | 
5 Comments »
Interest rate on a home loan after bankruptcy?
Madgreek asked:
My bankruptcy will clear on appx Mar - May of next year 08 and i am wanting to buy a home ASAP with as much as 20-30 percent down on a $100,000 - $150,000 loan. I only have utility bills and mobile phone, tv, etc. No car payments making 40K-50K What would be my appx wait time to get a loan and interest rate for it.
My bankruptcy will clear on appx Mar - May of next year 08 and i am wanting to buy a home ASAP with as much as 20-30 percent down on a $100,000 - $150,000 loan. I only have utility bills and mobile phone, tv, etc. No car payments making 40K-50K What would be my appx wait time to get a loan and interest rate for it.
Posted in Renting Real Estate |
Tags: Appx, Car Payments, Loan After Bankruptcy, Loan Rate, Mobile Phone |
7 Comments »
Should I refinance my home mortgage?
Being offered a new 30 yr mortgage at 5.25%, closing costs of $250 + $60-80 recording fee, $275 application fee. Current mortgage has a rate of 6.0%. Have a good credit score of 750-760. Refi’d in early 2008 from 6.5% to 6.0%. Newly proposed refi will drop my monthly payment by $100/month. Plan to stay in the house for sure another 5+ years.
What are the pros/cons? What am I gaining/losing? What else should I be aware of. Thanks for any input.
By: IU Hoosiers
About the Author:
if i get home loan secured in this taxable year, can i deduct interest payments made before loan secured?
Elizabeth K asked:
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?
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?