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wetdawgs

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Advice

  • (55311 Contributions,
  • 1247 Best Answers,
  • 13841 Helpful)

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Monthly Debt

Answer

Debt is something that you are paying over time, a car loans,  student loans, credit cards (where you don't pay off each month), perhaps alimony and/or child support.   These are obligations where you have a beginning and an end.     Things that you pay on as "as you go" basis (food, utilities, entertainment etc)  are considered expenses (not debt).      Most calculators are pretty generic with a lot of assumptions.  The one Sunnyview linked to provided more hints on what may be debts, but didn't talk about taking your budget into consideration.   We always take our budget into consideration and buy far lower than the calculators (and loan officers) say we can afford.   We like the extra so that one of us can get laid off, or we can vacation luxuriously, or eat caviar for breakfast every day, and (most importantly) sae for retirement.It is easy to get all starry eyed and buy at the top of "what can I afford" levels, but being house rich and cash poor isn't always the way people prefer living.   Think through it carefully for your own scenario.

  (0)
when will someone contact me about renting the property on 3229 Collee Ct. Naples Fl.

Answer

The property you mention is not currently listed for rent on Zillow.    The landlord apparently has not modified the description, but has removed the "for rent" status. Zillow is place where many individual landlords and property managers advertise.   All communication needs to be with the listing party, Zillow does not coordinate the communication.

  (1)
How Soon Before We Get 'Serious'?

Answer

The very first step is to determine if you are financially ready to buy a house and approximately how much you can afford.     Have you spoken with lenders to assess how much you can afford?  (Note: the maximum amount they say you can afford may not be comfortable for your budget, so evaluate carefully)   Do you have a good down payment,  closing costs and slush fund saved up?    Have a pre-approval in hand before you start looking at houses (most agents will require this), although hitting open houses casually is probably okay before getting an pre-approval.  Zillow's buyer's guide is a useful overview.

  (1)
How to make borrrowing from family mutually beneficial? (NYC)

Answer

The basic issue with borrowing from relatives or friends for purchasing a home is that now that debt will count against you for qualification for a mortgage.   What it appears that you are asking is how can you buy beyond your means with the assistance of relatives.     It may be possible to get a co-signer.   I'd only suggest using a co-signer  if you have 99% confidence that you can refinance in your own name in a year or two because you are expecting a huge promotion at work or switching fields to one with more income.  Get this commitment to refinance documented in a legal contract with your co-signer.    Co-signing links their credit to yours, and isn't something anyone should agree to easily.  (It is not "mutually beneficial")     Tell your cousin that buying a home for you is not "investing in real estate".  If you wish to go together with your cousin or others to invest in real estate,  separate the business relationship from purchase of your own home. 

  (0)
my landlord wrote the incorrect dates on my lease.

Answer

That is a good question for your attorney.   I suspect you'll learn that your complaint is frivolous and the intent was clear.   As you signed it without pointing out the error, you share responsibility.   Let us know what your attorney says. Are you trying to break a lease simply because of a "typo"?  

  (0)
Haw can I get owner finance house

Answer

Owner financing is very rare, but you may be able to find one using the keywords section.Plan on a down payment of 20 to 30% (or higher).Plan on interest rate being higher than market rate, often considerably higher.Plan on the owner going through your finances in excruciating detail to qualify you so they are willing to take the risk.   If a traditional lender won't take the risk, they will be wondering why they wish to take the risk.

  (1)
My listing will not post

Answer

Most websites have a time out feature.   Often this is 15 minutes, I suspect this got in your way.   I know sometimes I start a response in advice and then get distracted by other things, and when I hit "submit" it won't enter.  This is an example of their time out feature at work.  IMHO, the best way to enter a listing in Zillow is to claim your home and then edit it directly on the home's detail page.   Every 10 to 15  minutes or so hit "continue" to save and then go back to editing.   Once photos, words etc are to your liking, you can hit "post for sale/rent" and then you'll be all set.

  (0)