Why would a bank-owned property require a cash-only purchase? What are they not telling us? related questions

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Why would a bank-owned property require a cash-only purchase? What are they not telling us?4Bobby Joe2012-09-09 23:57:05
We are pre -approved for a conventional mortgage , but interested in buying a house that has been foreclosed and is owned by the lender . They insist on a cash purchase only. The price is substantially lower than the market value and the house has some problems, but still a bargain , we ... Besides home inspections and tax records , what questions should we be doing ?
If I wanted to buy a Bank Owned Foreclosure property with cash (one payment) would I need a real estate broker?3Nokthula2012-11-05 17:26:02
I'm a buyer , in cash, with a single payment . Should I pay the realtor for nothing ? What other fees or taxes might apply? I should be able to negotiate the list price down significantly because I am paying without a mortgage loan in advance ?
I owned property in Arizona. Both properties went into foreclusure as the bank rejected short sales and deed i?0on fen eng2012-09-14 04:50:02
n lieus . I originally bought the house for 150,000 and put 20 % down. Later refinanced and took money from each house . Loans were 175,000 at the end . What happens after . They are non-recourse . I live in California . help
How to purchase a property and get Cash Back?2travie2012-09-22 18:31:02
I was told by a lender that has a way to obtain cash from a property undervalued . I said all I had to do is have the dealer write an annex that will pay X amount for me (the buyer ) 24 hours after the loan has been funded . All I had to do was to legalize the addendum dated 1 day after the purchase contact . He said the lender did not mention that this is between you and the seller , because I hate to see such a thing happen . Is this legal or is there something I need to consider before you make a bid ?
Is cash-out allowed to purchase a rental property?0emmelie2012-08-28 17:54:15
Wondering if lenders allow a cash outflow of $ 200,000.00 from my primary residence free and clear of buying a rental property ? That's a 50 % loan to value on my refinance and would own the rent-free and clear . My debt to income also would be very low .
What are the requirements for buying a bank owned home on cash/203K loan basis?1Zabo2012-10-01 14:19:03
I saw a " bank owned property " , which stipulates a requirement of the "box or 203K loan only . As a first time buyer I was thinking of having the mortgage because they have no cash. So the only other option in this situation is the 203K loan , I think mainly cover repairs . What is the procedure for the 203K loan ? Are there any restrictions to obtain it ? It is the highest interest rate ? Can you return the 30yr mortgage as usual ? Is it a part of the normal mortgage or a loan is separately only to cover the repairs ?
Can I purchase a certified pre-owned car?0raequan lyon2012-09-17 07:23:04
I wonder if you can buy a certified pre-owned car with our income and credit score . I prefer a Toyota , Honda , Nissan or . My credit score is 689 but I have only had credit for 2 years . My husband has no credit because it only came to the U.S. last summer . Currently makes $ 638 a month, but will start making $ 1,800 from November . After registration is removed , I get $ 1,800 a month for me . We put $ 1500 - $ 3000 down payment. We have a year 3 . old , so we would like a reliable car , and this is the first time you purchase a vehicle at a dealership . The bank will not lend me a car loan because my credit history is too short , and credit unions do not pay us any good because my husband worked for only two months. MedlinePlus MedlinePlus I looked at Craigslist to see if we can buy used cars, but in our area used cars are generally 2000 + and the mileage is high . I prefer to use this as a down payment . By the way , I live in Santa Cruz , CA . Is it possible to buy a car ?
Can I file bankruptcy without any property owned?0jigar2012-10-03 04:25:12
In the Philippines , I have credit card debt and cash loans that have been able to pay on time for many years but now I can not afford to pay more and not have any properties on the left . I can file bankruptcy ? ? What are the consiquences I can face ?
I have a property which I own outright but don't live in. I am looking to purchase a property?0Aletha2012-10-03 05:21:48
to live , my question is , when obtaining a mortgage for this new place , instead of paying a deposit that banks ensure that part of the loan against another property that I have my absolute ? , Or if I have yet to come up with the deposit before I pay the money ? MedlinePlus MedlinePlus thanks for any advice
Property division in divorce if I owned homes before marriage? Iowa?0EEMAN2012-09-21 10:12:04
We have been married for a little over a year, no children. I've had my own home for 7 years in another city, he moved 60 miles to be with him, and have been renting the house to make the mortgage payments. I bought a new house in the city two years ago, the mortgage and title are in my name only, before our marriage. Will you have any rights to these properties? He does not want / I can not afford the house we live in now, however, a threat that can take half of the capital, more than half of the shares of my other home. MedlinePlus MedlinePlus I've been looking online and see conflicting answers. Some say Iowa is a community property state and all property is divided equally. Some say that property acquired before marriage can not split the circumstances warrant. I'd say it's just to keep my two homes, make more money and all that is in my name. MedlinePlus MedlinePlus We have a few thousand dollars in credit card debt that is in my name only, do not go after him in half. I know that is not going to pay anyway. He did not tell me before we got married (plus they had bad credit from when he was younger), but the student loan company garnish your wages began and achieved with papers from the sentences twice, to my knowledge in previous debts. Everything we have, to utility bills, is in my name. MedlinePlus MedlinePlus Also, before we got married I bought some things on my own credit card interest without furniture, some furniture, tv, etc shall be entitled to such items if some payments out of our joint account? MedlinePlus MedlinePlus We basically bought anything together since their marriage because he prefers to spend all you have alcohol and gambling. Divide the total of both our paychecks in half, after all, and I make twice. I think it's fair for me to keep these items as they earn more and are bought with a credit card before the wedding. MedlinePlus MedlinePlus I think it will go one of two ways, once served the divorce petition. Either ignore it and let it happen, because he is lazy and has no money and no way to get money for a lawyer. Can not get a loan, his family all struggle financially. Or if you can somehow get the money from a friend, will make this unpleasant for me to try to take everything I can.
Can I get a tax deduction for mortgage interest on foreign property owned jointly with my dad?0ARul2012-10-02 14:26:02
This is the apartment that I would have. MedlinePlus My father filed taxes in the foreign country and I can file my U.S. taxes . MedlinePlus The property will be jointly owned . The property will be used to secure the loan and I would be solely responsible for the repayment. MedlinePlus In that case, I can take deductions on mortgage interest ?
If I purchase a home for cash or through a private loan, how soon am I able to refinance with a bank?1dmm2012-10-24 15:09:02
If I buy a house for cash or by a private loan , how soon I am able to refinance with a bank?

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