Questions

Questions about buying a foreclosure home in CA.???

Jul 042011

My husband and I are thinking about buying a home that is in foreclosure, but are unsure of a few things.
*The property we are considering has been in this other family’s hands for ten years, but a couple of years ago they took out a $ 350,000 2nd mortgage. So between the first and second mortgages they owe close to $ 700,000. The property now is only worth about $ 425,000. From what I understand, it is the second that they have fallen behind on.

So, if we were to purchase this property, would we pay what the home is worth, or would we somehow be responsible for the entire debt?

Also, does anybody know anything about the HUD Officer Next Door program? (It’s where officers can buy HUD homes for 50% off) The website says their are no homes in my desired area at this time. Do they use foreclosed homes for this program, and if so will it be just a matter of months before they are flooded with available homes?

foreclosure questions when buying in california

Loans, credit questions……?

Credit Repair 2 Responses »

Jul 042011

Im looking to clean up my credit. It’s not bad but not good so i figured to clean it up to buy a home. My problem is this. credit report repair? debt consolidation? What one is better and how do i go about doing them? I know i’m about to get scammed and bogus offers [...]

10 points best answer. please help me. please im begging you. consumer/economical questions. multiple choice?

Debt Management 2 Responses »

Jul 032011

4. Which type of debt is the least attractive for a consumer? (Points : 1) Unsecured debt Secured debt Mortgage debt Lease debt 5. If you receive paid sick days, personal days, and/or paid vacation, what type of employee are you? (Points : 1) Salaried Hourly Management Lucky 6. Which of the following is an [...]

Questions on consolidating credit cards. Help?

Credit Repair 3 Responses »

Jul 032011

My boyfriend has about $ 5k spread out over a few credit cards (furniture, car repair, regular credit card, and best buy I think) and we were wondering if it’s easier and/or cheaper to consolidate them. Would it make the monthly payments less (currently it’s $ 50 – $ 85 each)? What’s the best way [...]

First time home buying questions?

Buying Your Home 8 Responses »

Jul 032011

I have been doing research on the net on buying a home (most likely a new t/h for about $ 140,000) and am curious in knowing all of the steps that are needed go ahead with the purchase. I am assuming that a realtor is to be contacted somewhere along the way but just not [...]

Bankruptcy Chapter 13 questions.. Can I let it get dismissed and file a chapter 7 instead?

Credit Repair 4 Responses »

Jul 032011

Here’s the deal: I am 3 months into a 3 year Chapter 13 bankruptcy. I want to convert to Chapter 7, but it is way too much for me to afford right now. If I fall behind on my Trustee payments (of 90.00 per month), and the Ch 13 is dismissed, will it still show [...]

IF U WERE GOING TO BUY YOUR FIRST HOME, WHAT are the most important questions to ask the sales agent?

Buying Your Home 8 Responses »

Jul 022011

Questions about buying a house from my parents?

Home Insurance 4 Responses »

Jul 022011

My parents want to sell me the house that I live in now, that I am currently renting from them. We agree on 100,000 even though the market value is closer to 140-150,000. Pretty much, I figure the mortgage with taxes and insurance will probably be the same or less than my current rent, and [...]

Questions on financial management?

Debt Management 1 Response »

Jul 022011

i got 3 questions out of 15 questions from my assignment and i have no clue how to do them. if u know, please help and provide steps too. Many thanks. Mary compant predicts that its earnings in the coming year will be $ 40 million. Mary Company adopts the residue dividend policy. It has [...]

Questions about Debt consolidation programs.?

Debt Management 1 Response »

Jun 252011

I’ve got about $ 1,500-2,000 dollars worth of debt I need to get rid of. I’ve been paying it for a while, and I seem to be getting nowhere. Has anyone ever used a debt consolidation program? If so, was it effective? Were there any consequences? I’d like some input!

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