We are in the process of purchasing another home and would like to turn our current home into a rental property (we have already been approved to carry both loans). Our current loan is an FHA loan, and we have lived in the house for almost 3 years. Is it legal to do this with an FHA loan?

Also, do we have to change our homeowner’s insurance, and is it more expensive for rental properties?

 

Just looking for some tips dealing with home loans, realtors, private sale or foreclosed-homes. Have you encountered any bad situations you can share? What are some tips to make home-buying safer?

 

We have had our house on the market and have been unable to sell it. A representative from HomeVestors (We buy Ugly Houses) contacted me and said that they would do a short sale on the home where they negotiate a price and they will buy it from them. He said they they negotiate to [...]

 

is it possible? I want to know my current credit score without having to pay? any sites that could give me this information?

 

This question is for experts only.I have cleared all the derog from my credit and all three bureaus show as paid on all outstanding debt. I currently have an average of 590-610 score on all three EFX,XPN,TUC.I have a $ 1900 deferred student loan.And I have a $ 15,000 auto with FMCC that show six [...]

 

My IT job is going to be eliminated in 1-2 months due to a merger, but a) I am covered by a severance package that includes full pay for about 10 months and b) I know I want to stay in my current area. I am literally miserable living in my current apt due to [...]

 

I unknowingly didn’t pay my house insurance for last year (Sept 2008-Sept 2009) and now the mortgage company sent me a letter stating that they assigned $ 1,900 for insurance of their choice, and which is double the market rate. How can they forcefully make me pay for the past? Nothing happened to the house [...]

 

We are looking at buying a home in Indianapolis and we’re asking as a part of the agreement that they pay out our current lease at our aparment, but the builder came back and said they can’t because it’s now against the law. Is this true or are they playing hard ball with us? builder [...]

 

i bought a big home and now i have built up some equity, i tried to get some home improvement loans and my credit score took a bad hit. I currently am stretched out too far and would like to get a cheaper home so i can breathe. If i sell my home can i [...]

 

I have “good” credit but my score is low. I have over 50k in installment loan debt such as student and car loans. In revolving debt I have 4. I have had most of these accts going over 3 yrs. Everything is current. Will my score improve if I consolidated my student loans?

© 2011 Mortgage and LoanSuffusion theme by Sayontan Sinha