Forum Replies Created
-
AuthorPosts
-
seattle-relo
ParticipantHLS – I’ll be sending you an email in a couple of minutes.
ParticipantCan you recommend a mortage broker who can do loans in TX that can look at our situation and help us decide if its possible? Thanks.
ParticipantCan you recommend a mortage broker who can do loans in TX that can look at our situation and help us decide if its possible? Thanks.
October 12, 2007 at 9:02 AM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88398ParticipantWe were in temp housing in that area and I would say that it’s not the best. Some parts are okay, but there is enough “rough” areas that you might want to consider other places. I think you have to be a little further west to go to Los Pen Elementary – which btw, now has very good scores.I think in the past Los Pen was one of the worst Poway Unified Schools, but they have had a lot of changes and is considered very good. They have adopted some kind of “No Excuses University” program and it’s done wonders.
October 12, 2007 at 9:02 AM in reply to: Good deal in Ranchc Penaquitos, House near golf course #88403ParticipantWe were in temp housing in that area and I would say that it’s not the best. Some parts are okay, but there is enough “rough” areas that you might want to consider other places. I think you have to be a little further west to go to Los Pen Elementary – which btw, now has very good scores.I think in the past Los Pen was one of the worst Poway Unified Schools, but they have had a lot of changes and is considered very good. They have adopted some kind of “No Excuses University” program and it’s done wonders.
ParticipantHow do you get around the lease issue if it wasn’t a rental previously? My husband travels a lot to the Austin area and have thought about purchasing a rental there. You still can get a decent SFH for around 175K in the nicer burbs that can rent for 1650 a month.
ParticipantHow do you get around the lease issue if it wasn’t a rental previously? My husband travels a lot to the Austin area and have thought about purchasing a rental there. You still can get a decent SFH for around 175K in the nicer burbs that can rent for 1650 a month.
ParticipantHLS – When you are qualifying for the rental property mortgage, how does the bank consider the rental income? I heard they allow you to apply 75% of the income to qualify. Is that usually the case? And how does the bank decide what the rental amount would be if it’s on a home that wasn’t previously a rental? My husband and I have talked at different times about rental property investments, but honestly we haven’t looked that much into all the areas to consider. It’s something we have interest in at some point in the future.
ThanksParticipantHLS – When you are qualifying for the rental property mortgage, how does the bank consider the rental income? I heard they allow you to apply 75% of the income to qualify. Is that usually the case? And how does the bank decide what the rental amount would be if it’s on a home that wasn’t previously a rental? My husband and I have talked at different times about rental property investments, but honestly we haven’t looked that much into all the areas to consider. It’s something we have interest in at some point in the future.
ThanksOctober 11, 2007 at 4:26 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88218ParticipantSorry, I meant foreclose on the old place, not the new place.
October 11, 2007 at 4:26 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88223ParticipantSorry, I meant foreclose on the old place, not the new place.
October 11, 2007 at 4:25 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88214ParticipantSo would it be considered fraud if the second home was purchased as rental property, then the owners decided to move into it, not rent it, and foreclose on it? Would that be illegal?
October 11, 2007 at 4:25 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88219ParticipantSo would it be considered fraud if the second home was purchased as rental property, then the owners decided to move into it, not rent it, and foreclose on it? Would that be illegal?
October 11, 2007 at 1:34 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88160ParticipantI am sure that there are some people who do have enough savings for 20% down and could declare the second property as a rental, then move in the “rental” and let the old house foreclose. I think my husband worked with someone who did that back in the 90’s. I think they did because they had to relocate to Chicago for work and couldn’t sell their CA property.
-
AuthorPosts
