[HLS]

Nic,,
Hope that it all works out for you. I understand that you wanted to ‘do the right thing’ and (hopefully)get your deposit back.
Hopefully you didn’t throw away your money.
If they are not happy with the work that you paid for, they are going to hire someone else to do it and charge you for it anyway.

Had you let the landlord pay for repairs out of your deposit, you would have had no additional out of pocket expense, and the burden of satisfaction was on the landlord to have the work done.

Now you are in the position of being out the money that you spent for repairs and possibly your deposit as well.

I hope that you don’t walk away from this because you don’t like confrontation.
Small claims court may be your only remedy.
If your landlord tries anything illegal in front of the judge, hopefully the judge tears them apart and awards you.

You should not ask your landlord about the status of your deposit within the 21 day period, add a couple of days to be safe.
If you put them on notice that you intended to file, they may be fair with you.
Who knows what they will do, each case is different.

*General advice to anybody is: IF you are comfortable, Owe your landlord rather than have them owe you. You have negotiating power that you don’t have when they owe you*
Although a ‘security deposit’ is not the ‘last months rent’ it can be used for unpaid rent after vacating. Even if landlord charges a late charge for that last month, it puts the burden of filing in court on them rather than you IF they want more money.
If you give notice, they usually will not/cannot evict you in 30 days.
You can often settle out of court and spend less than you thought you would have to spend if they already have your money. Nobody ‘wants’ to waste time in court, it just boils down to money.

[HLS]

PS:
3 weeks is not impossible, but there are multiple parties involved that could include agents, escrow, title, insurance, termite company, appraiser, inspector, your employer, IRS, loan underwriter, lender funder, current landlord, etc.
It all needs to come together.

They all may try to accommodate, but they won’t be rushed because of your commitments. Underwriters have a tough job to do and it’s just another file to them. (Special favors can be requested)

The stark reality is that many, many people do not qualify for loans, regardless of credit score, equity, income, cash, assets etc.

In many cases it is easier for someone with bad credit and 3.5% down to qualify for an FHA loan than someone with
an 800 credit score who makes $200,000 a year and has 50% to put down.
It’s ALL about qualifying for the program, and not only based on income/assets/equity.

[HLS]

NOBODY on the planet can absolutely ‘guarantee’ when a funding will occur.
There are a million variables.

(It’s like asking when your car is going to run out of gas. Even if you fill your tank today, the answer will be different for everybody)

There might be someone who will offer some compensation if it goes beyond a certain date, but it’s just impossible to predict how long it will take.

I recently had a ‘flood zone’ requirement for a property that never needed flood insurance before.
Turns out that FEMA changed flood zone map in 2012. Lender didn’t request it until 3 weeks after submission. Borrower had to get flood ins or there was no loan, this delayed getting docs by a few days.
SO many things can pop up. Labor day weekend is a loss of 3 calendar days at this time.

However,
Loan docs can be signed almost anywhere, domestic or foreign. I have had notaries meet with people while on business trips or vacations out of state, and in a foreign country they can usually be signed at an embassy.

If you wish to discuss, feel free to contact me, and I will try to help,otherwise best of luck and have a safe trip!

[HLS]

With an idiot/ignorant/clueless landlord,The problem if you have the work done yourself, it may not be satisfactory to them and they will hire someone to do it again/differently.
My claim to a judge is that the work didn’t need to be done at all. It was normal wear & tear.

I seriously would tell the landlord *in advance* that you intend on taking them to small claims court to justify their repairs to you.
Put het on notice that YOU are in control and not afraid of her, and that what she is asking for is unreasonable.

You are going to need to stand up to this bully or it is going to cost you. I would also follow through with filing in small claims court.

If they have already filled out the form needed for your loan, there probably isn’t anything else that will be needed from them, ever.

It sounds like in the long run you are willing to pay for ‘damage’ that you think you have done.
Let a judge decide what ‘damage’ is VS. wear & tear.
A sympathetic judge might even say that stickers placed by kids is normal wear & tear!
Many judges enjoy reaming people who are clueless about laws that exist and are bullying.

You stated that you don’t like confrontation, but that could cost you greatly in this situation if you don’t stand up top her.

There is also a chance that she will not provide you with proper receipts within 21 days.

[HLS]

If they violate the Fair Credit Reporting Act, you can go after them.
A new lender will NOT contact your landlord in 7 years!!

They sound like an ignorant landlord and need to be called on their nonsense.

Within 21 days of you vacating, they MUST provide receipts for work done to you and can deduct them from your deposit. If it’s unreasonable you have to sue them in small claims court to get money back.
If they do not provide receipts to you within 21 days, you are entitled to receive your entire deposit back. DO NOT TELL THEM THIS, it’s not your obligation.

they CANNOT legally charge you for vacant days after you move out, that’s insane and their threat tells me that they are ignorant.

It’s up to you to decide what you want to do. You will have to get a judge to tell them the law.
They cannot make up their own rules!

[HLS]

[quote=new to SD]Thanks for the reply. I can put 20% – 25% down. I need to borrow $500k to $700k and my Short sale was finalized in September last year.[/quote]

Guidelines are constantly changing, it has not even been a year yet, which is probably why your credit score is still low.

There are things that you can proactively do to raise your score.
You may need to wait 2 years from date of short sale to sign a contract to purchase again.
It could be difficult to qualify for a new loan for awhile, regardless of your down payment.

Your score is ALWAYS going to be a factor for a conventional loan. low 600’s is a huge difference in rate, you may need at least a 620 middle score.

I’d like to know what you are doing to raise your score. If you contact me privately I can discuss this with you in confidence.

It may also depend on whether your short sale was voluntary OR hardship.

General guidelines:
Short sellers normally have to wait at least two years after closing the short sale to qualify for a mortgage.

The minimum wait period and down payment requirements to get a conventional loan after a short sale are:
•Two-year wait with a 20 percent down payment.
•Four-year wait with a 10 percent down payment.
•Seven-year wait with less than 10 percent down payment.
Loans above $546,000 can be more difficult to qualify for too.

Lots of variables!

[HLS]

You say NO. For $1700 I would take your landlord to small claims court and let the judge decide what normal wear and tear is.

I don’t think that you have anything to lose.
Many landlords are clueless about what they can legally charge for and bully tenants.

You didn’t rent a brand new house and your landlord doesn’t get a brand new house at the end of your tenancy.

You cannot legally be charged for ‘normal wear & tear’ I would inform the landlord in advance that you are leaving it broom clean and if you don’t get your full deposit back, you will be filing in small claims court to get it back.

Even if you miss a few hours or a day of work, is that worth $1700 to you ?
Best case is you have to pay nothing, possibly a portion of it rather than all.
Worst case is you lose and pay, which you say you are willing to do anyway.

Did you do damage to the property OR is it just normal wear and tear ??

[HLS]

What is your current interest rate and how much is your PMI ?
Did you get an FHA loan or conventional ?
If you have 20%-22% equity now, you should be able to get mortg insurance removed if you did not go FHA.
that can help a bit. $500 off for a rental ?
Rents are decent in the area, are you dealing with Mello Roos ?

Most info on Zillow is worth what you are paying for it.
I don’t believe that Temec will increase much in the next year, a lot depends on interest rates.

[HLS]

How long has it been since your short sale closed ?
What have you done to improve your credit score ?
Score may only be part of your concern.

There are very specific guidelines regarding new loans after a short sale and I don’t know if any lender deviates from them.
The guidelines require proof of whether the short sale was voluntary OR a true hardship situation AND depends on what % your down payment is going to be on the new purchase.

[HLS]

They still do have jumbo loans, but the pricing on the above loan that was 3.50% locked in April is 5.75% today.

There are ALWAYS hoops to jump through with EVERY loan, regardless of income, assets, credit score, equity, net worth or borrower’s attitude.

[HLS]

Not sure what you are trying to find out.
Loan pricing depends on your specific situation.

Scenario I just checked with them for a 30yr. $400,000 loan is 4.50% today at no cost.
I can offer the same thing,no cost.

Do you think that they have something special to offer?

[HLS]

I have had many month to month tenants in multiple properties over the last 30 years, most worked out very well.

A lease obligates you more than them. People break leases all the time, and it’s a real hassle to get a judgment and/or collect.

A lease is not a guarantee that a tenant will stay there.. It IS a guarantee that it’s a lot harder for a landlord to get rid of a crappy tenant when they are paying their rent.

If someone has a lease and wants to break it, do you really want them in your property as disgruntled occupants ?

Being a landlord comes with huge risks and obligations that most people seem unaware of, until something goes wrong.

If you feel better with a lease, you can raise the rent with 30 days notice, and offer a lower monthly rate, or keep it the same as now if they sign a lease.
I once had a month to month tenant stay for 13 years and the only reason she left was because I sold the house.
Month to month does have to be a bad thing.

[HLS]

[quote=spdrun] Talking conventional loans, not GSE-backed, of course.[/quote]

What do you think a ‘conventional loan’ is ???
they ARE GSE backed.
Who else in their right mind will loan money for 30yrs in the 4%+/- range?

[HLS]

Here are some statistics that are about as useful to me as the foreclosure comparisons, draw your own conclusions.
I’m sorry that I don’t have time to provide additional data for you to determine trends.

99.999% of people who died in the last 12 months were breathing before they died.

100% of people who turned 21 in the last year, were 20 on their previous birthday.

98% of people who died in the last 6 months either ate carrots, bananas or watched TV in the 30 days preceding their death.
********
The complacency about the economy and faith in ‘the recovery’ is a severe case of hypostatization.
It was only a mild case around 2006 when virtually everybody though that their house was really worth what it was selling for.

I will give the govt credit for creating the illusion that the economy has improved, we have turned a corner, and are well on the road to ‘recovery’ (WTH that means)

Most people are either brainwashed or delusional, complete ignorant and unaware of the risks ahead that someday cannot be avoided.

The current administration is doing an outstanding job of kicking the can down the road.
This has nothing to with the party, the previous administration was just as inept.

Commitments and unfunded liabilities have possibly never been greater. The cost to perpetuate this illusion has been many trillions of dollars, and is far from over.

There are far greater problems ahead for many than they faced in the past, regardless of the ‘trends’ being reported today.

Eventually the problems will cease to exist, however, eventually we will all be dead.

[HLS]

SK,
I’m sure that you know how to read data.
I’m not sure that you understand the meaning of the information gathered to provide you with this meaningful data and thus your contention that the trends are improving.

Lie 10 times, then 9, then 8, it certainly indicates that the trend is improving.

There is no point in discussing this with you, you are the final word.

You know how to read data. You stated that an article written about an official report issued in May 2013 from the highest level possible is ill-timed and you have drawn your own conclusions, therefore any other view is incorrect.

If I said that CAR was 1 in a million, it would mean that there are about 314 other people in this country that get what I am talking about. That might just be accurate.

Enjoy your govt manipulated, misleading statistics and charts. Continue on with the trends that you believe are accurate and I hope that this serves you well and continue on with your agenda of support to the propaganda.

[Author]

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