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They don't have black doors that would match our other cabinets - they have something called 'black brown' that has a bit of a wood grain. I actually like the color a lot, but I think it would look strange next to our black, black existing cabinets.
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Mar 9, 2012 19:43
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Thing is, you're not going to be able to match black cabinets anyway perfectly. I think the white and black looks fine, especially with the checkerboard tile and countertop thing you've got going on.
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Mar 10, 2012 18:11
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AA is for Quitters posted:So....question, any of you have experience in buying a mobile home? Anything to look for in particular, outside of the general structural stuff that applies to any building? I've been reading this thread on and off for a while as a "when I finally get rich" sort of thing, but I just found a place that is...well, too good of a deal to not at least look at and see what the catch is. Are you buying just the home or the land the home is situated on as well? Buying the home minus the land isn't that good a deal, no matter how little you pay. You have to pay rent on the land yet get none of the benefits of a traditional landlord-tenant arrangement. Plus, the landlord has you over a barrel, as he can raise the rent on the land, forcing you to scramble to sell your mobile home for whatever you can get. There is a reason why mobile homes without land are so cheap.
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Mar 12, 2012 04:36
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moana posted:Thing is, you're not going to be able to match black cabinets anyway perfectly. I think the white and black looks fine, especially with the checkerboard tile and countertop thing you've got going on. Thanks for the input. I think we're leaning toward the white cabinets anyway - just didn't want it to be too bizarre for anyone that might want to buy it in the future.
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Mar 12, 2012 14:12
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Konstantin posted:Are you buying just the home or the land the home is situated on as well? Buying the home minus the land isn't that good a deal, no matter how little you pay. You have to pay rent on the land yet get none of the benefits of a traditional landlord-tenant arrangement. Plus, the landlord has you over a barrel, as he can raise the rent on the land, forcing you to scramble to sell your mobile home for whatever you can get. There is a reason why mobile homes without land are so cheap. Place reeked like mold and stale smoke so i passed on it entirely, but it would have been $8500+$475 in lot fees if i took it. I knew lot fees could change a whim and I budgeted for them adding up to $100 to their monthly fees, but i just passed eniterely when the place had a noticeable stank.
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Mar 12, 2012 15:17
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We are thinking of doing a major addition this spring and are a little unsure where to start. Anyone go down a similar route and know what the first steps are? We are looking to add a double garage with two bedrooms above it to our 1400sqft house. Not sure if we contract an architect to do plans or a contractor first to get their opinion on the current structure. Also no one we talk to off the record is even willing to ballpark what an addition like that would cost. I'm hoping its in the 50-70k range and not the 80-100 range.
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Mar 12, 2012 15:27
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A couple of noobie questions here: My wife's name is still currently on the house that her and her ex-husband bought together some 7 years ago. He's been making the payments on time with no issues but he's having a hard time refinancing. How will this affect her and I purchasing a new home. We both have good credit. Also, does anyone have experience with timing the ending of their rental lease with the move in of their new home? We're now month to month on our apartment and while our rent hasn't increased, the 60 day notice of ending our lease worries me. My fear is that when the time comes, we either will close early and end up paying rent for an apartment we've vacated or we'll have to move out without a new place to move into.
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Mar 12, 2012 15:50
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whaam posted:We are thinking of doing a major addition this spring and are a little unsure where to start. Anyone go down a similar route and know what the first steps are? We are looking to add a double garage with two bedrooms above it to our 1400sqft house. Not sure if we contract an architect to do plans or a contractor first to get their opinion on the current structure. Also no one we talk to off the record is even willing to ballpark what an addition like that would cost. I'm hoping its in the 50-70k range and not the 80-100 range. Your first step should be to contact the city you live in to find out if the addition you want to build is in any violation of city codes or if you need a permit for the addition. It would suck to get started on the project only to have the city inspector drive by your property and shut you down for violating code/not having the right permits. I would then get an architect involved to draw up plans for the addition. Find one specializing in home design. Once you get the plans, you can look for contractors. Having the plans will help them better estimate the cost of the project. And it's always more expensive than you think. Something will go wrong, so be prepared to pay more.
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Mar 12, 2012 16:02
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I Might Be Adam posted:Also, does anyone have experience with timing the ending of their rental lease with the move in of their new home? We're now month to month on our apartment and while our rent hasn't increased, the 60 day notice of ending our lease worries me. My fear is that when the time comes, we either will close early and end up paying rent for an apartment we've vacated or we'll have to move out without a new place to move into. If you are month-to-month on your lease, you should be fine. Generally, closings are scheduled a month out from going under contract. You can also specify when you want the closing to be. Just let your landlord know when you go under contract (or better yet, let them know you are looking now). Worst case is, you'll have to pay a month's rent after you close, which isn't so bad since your first mortgage payment won't be due until a month after closing. At least that's how ours was...
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Mar 12, 2012 18:35
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new home, old colors, same Arsenal
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I Might Be Adam posted:A couple of noobie questions here: Get your credit scores. If you can, apply for the loan using the person with the highest score. quote:Also, does anyone have experience with timing the ending of their rental lease with the move in of their new home? We're now month to month on our apartment and while our rent hasn't increased, the 60 day notice of ending our lease worries me. My fear is that when the time comes, we either will close early and end up paying rent for an apartment we've vacated or we'll have to move out without a new place to move into. I'd suck up the 2 months. Only cancel your lease when closing is 100% or you feel like gambling. I had a deal fall through a week from closing and was lucky my apartment wasn't rented yet
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Mar 12, 2012 18:44
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pimpslap posted:If you are month-to-month on your lease, you should be fine. Generally, closings are scheduled a month out from going under contract. You can also specify when you want the closing to be. Just let your landlord know when you go under contract (or better yet, let them know you are looking now). Worst case is, you'll have to pay a month's rent after you close, which isn't so bad since your first mortgage payment won't be due until a month after closing. At least that's how ours was... Paying for two places for a month isn't that bad if you can afford it. You can perform any needed repairs or remodeling before you move in to your new place, which is a big convenience if you plan on doing major work. Even something as simple as new carpet or paint is a ton easier when the house is empty and you don't have to work around furniture.
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Mar 12, 2012 19:06
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Konstantin posted:Paying for two places for a month isn't that bad if you can afford it. You can perform any needed repairs or remodeling before you move in to your new place, which is a big convenience if you plan on doing major work. Even something as simple as new carpet or paint is a ton easier when the house is empty and you don't have to work around furniture. Agreed. It was worth it for us to have a little rent/new overlap to paint all the rooms, new hardwood flooring and carpet, and move-in over the course of a week or two. It also gives you plenty of time to clean up your rental so you get back your full security deposit.
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Mar 12, 2012 19:56
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Yeah, I budgeted 2 months overlap on purpose when I bought my current place. I spent 6 weeks remodeling, and 2 weeks moving, so I was able to put things away as I brought them in. The moving process was pretty painless because of it. And I had an extra 2 week buffer on the remodeling if I needed it. Highly recommended if you're doing anything like painting or counters or appliances.
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Mar 12, 2012 19:58
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I Might Be Adam posted:A couple of noobie questions here: When you say her name is on the house I assume you mean she is responsible along with the ex for the mortgage and it shows up as her debt on her credit report? This is a problem and your wife had a terrible divorce attorney if it is the case. Also if you are worried about two months rent home ownership might not be such a good idea. You will often face repairs costing 12 months rent, i.e. do never buy. On a plus side you can normally skip a month before payments start making it not so bad if you are low on liquidity.
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Mar 12, 2012 20:19
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Elephanthead posted:When you say her name is on the house I assume you mean she is responsible along with the ex for the mortgage and it shows up as her debt on her credit report? This is a problem and your wife had a terrible divorce attorney if it is the case. I'm not worried about budgeting the 2 months of rent necessarily. Just wondering how that works is all. Like I said, I'm new to this. As far as my wife goes, they divorced on good terms and him refinancing wasn't really possible at the time. She's a goodhearted person and they had a good enough relationship after it was over for her to be ok with leaving it alone until it became a situation. Basically, he wasn't missing his payments and she's been building good credit with it. Her divorce attorney basically encouraged her to take him for everything he had, but she wasn't interested in taking the house. He's agreed to move forward with refinancing so we can get a loan. Just not sure how long thats going to take.
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Mar 12, 2012 20:39
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(bad divorce lawyer meaning either she should have gotten the house or had zero liability for the house, not the worst of both worlds)
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Mar 12, 2012 20:48
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Getting one's name off a house (usually? possibly always) requires a refinance. If the house was underwater, that might have been literally impossible. I don't believe a divorce judge has the power to just declare it by decree.
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Mar 12, 2012 22:27
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Leperflesh posted:Getting one's name off a house (usually? possibly always) requires a refinance. If the house was underwater, that might have been literally impossible. I don't believe a divorce judge has the power to just declare it by decree. Consider my point retracted. Is this, then, the default and only way to split up a house that hasn't been paid off if it's underwater? It seems like it would be very common if so.
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Mar 12, 2012 22:40
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Check out CornHolio's thread. Basically, his wife is on the mortgage of a house (along with her sister). Until it is refinanced, she cannot take her name off, and it was apparently underwater making it hard to get a refi. There are now some government programs that allow for refis on properties at greater than 100% loan-to-value, so doing something like that might be a possibility. But basically, divorce court is for getting a judge to help split up assets and liabilities when the couple cannot come to an agreement they both accept outside of court. But it would probably be to neither party's advantage to be forced to sell an underwater house just to get their names off of it, if one party is willing to keep making payments (eventually, one would assume, bringing LTV below 100%). In the meantime, it's not an asset, it's a liability - and one which both parties are 100% responsible for (as named signatories on the mortgage). So, I'm not sure if divorce court would be able to affect that note, but if they did decide to split it, it'd probably have to be compensated-for by whatever actual assets the couple owned. So I could imagine a scenario where she received additional cuts of their assets to compensate for the loss on the house from selling it - or he did, or they both split it. My point though is that it's not a given that she had options her lawyer could advise her to pick from. Aside from that though, it's also not a given that she even needed a lawyer. Not all divorces are adversarial, despite what TV might have you think.
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Mar 12, 2012 22:49
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I Might Be Adam posted:Also, does anyone have experience with timing the ending of their rental lease with the move in of their new home? We're now month to month on our apartment and while our rent hasn't increased, the 60 day notice of ending our lease worries me. My fear is that when the time comes, we either will close early and end up paying rent for an apartment we've vacated or we'll have to move out without a new place to move into. The way its going to work on my payments is as follows: Close April 5th. Pay interest for all of April. Get May free. Pay mortgage in June. My understanding is this is pretty common. IE-pay interest to close the first month, get first month free, start month thereafter. I could be wrong, though.
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Mar 13, 2012 02:09
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Dead Pressed posted:The way its going to work on my payments is as follows: With mortgages, you pay for the previous month rather than the month you are currently in, so you would be right.
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Mar 13, 2012 02:23
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Leperflesh posted:So, I'm not sure if divorce court would be able to affect that note, but if they did decide to split it, it'd probably have to be compensated-for by whatever actual assets the couple owned. So I could imagine a scenario where she received additional cuts of their assets to compensate for the loss on the house from selling it - or he did, or they both split it. I can tell you straight up mortgage companies don't give a gently caress about divorce decrees. Only thing that is getting this out of anyone's name is a quit claim/assumption, short sale, deed in lieu, or foreclosure.
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Mar 13, 2012 02:26
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Princess Putout posted:I can tell you straight up mortgage companies don't give a gently caress about divorce decrees. Only thing that is getting this out of anyone's name is a quit claim/assumption, short sale, deed in lieu, or foreclosure. The mortgage company that holds the current loan doesn't have to give a gently caress, but the lender on the new loan certainly can. Fannie Mae Guidelines posted:Court-Ordered Assignment of Debt This applies to conventional loans only (Freddie has similar verbiage). I don't know for sure if FHA and VA do the same thing but I'd be surprised if they didn't have similar requirements. This may or may not be helpful to you I Might Be Adam, depends on what exactly was put into the divorce decree. You've been a bit vague so far, but if the decree has verbiage in there indicating that the ex husband is responsible for the residence and all debts/liabilities associated with it (or similar) then your prospective lender is not required to include the debt in your ratios. I know you mentioned he's been paying on time, but for others reference when this occurs you may still be dinged a bit on this if the ex had been bad about paying on time though, since that would still be reflected on her credit report which could potentially result in an unacceptable response from the automated underwriting systems. Depending on your lender they may proceed with a manual underwrite due to the derogatory info, and manually underwritten loans are stricter on debt to income, credit history, etc. Assuming the divorce decree does NOT specify that the ex is responsible for the home/mortgage, all hope may not be lost though. This will only work if the ex has been paying on time, but if you can document that the ex has been making the payments on the mortgage for the last 12 months and that he's obligated on the note you can potentially exclude the debt as well. This may be a bit hit or miss though since lenders are generally going to be more hesitant about excluding a house payment compared to say an auto loan. We probably wouldn't go for it, but we're also fairly conservative on that sort of thing.
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Mar 13, 2012 02:55
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Thanks so much for all the info and advice. Bottom line is we definitely want him to refinance and get her name out. I was just curious what kind of impact it would have if that wasn't the case. They didn't buy a house they couldn't afford or got themselves into some shady deal like so many people did right before the housing bubble popped, so I don't think it's underwater. Also, I believe property values didn't take a massive hit in that area.
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Mar 13, 2012 03:14
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Put in an offer on another house yesterday afternoon around 4pm. Got a call at 7:45 saying they accepted the offer. Seems like I could have gone lower but that's ok, I would have paid asking price for the place and instead got 5k knocked off and all the nice appliances are staying. Now I'm hoping everything else goes as well. Thanks house buying megathread.
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Mar 13, 2012 15:36
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I'm looking to pay a lump sum on somebody else's mortgage principal. 1.) I believe that if I make the lump sum payment that the additional principal payments don't lower the mortgage payment. Instead they reduce the loan balance so more of each monthly payment goes toward principal repayment instead of interest expense? 2.) If I pay down on the principal amount, does the other person have any tax ramifications from someone else making payments? Taxes/Income go up? Can someone else make a principal payment on the mortgage?
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Mar 17, 2012 09:12
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SmutAnEggs posted:I'm looking to pay a lump sum on somebody else's mortgage principal. 1.) correct, although with some lovely mortages you have to make sure you specify that excess payments go to principle and not into escrow (though I have a vague recollection of some regulatory change basically making all extra payment go to principle, either way just double check with a 5 minute phone call) 2.) I'll let someone else answer this one.
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Mar 17, 2012 09:17
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In planning for the future purchase of a home and saving money I have been looking more into closing costs. I am really confused by something. I've heard most banks in my area want 12 months of property tax in the escrow account. Now lets say I close on a house in June, would I only have to put in 6 months adding to what the seller already had or would I have to pay the whole 12 months regardless of when I buy?
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Mar 17, 2012 12:23
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SmutAnEggs posted:I'm looking to pay a lump sum on somebody else's mortgage principal. I imagine that 2 would be considered a gift and would fall under the IRS gift tax regulations. I believe you can give 12k a year in gifts before it starts hitting your lifetime tax free amount.
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Mar 17, 2012 14:54
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Home inspection was yesterday overall it went well, two things need to be looked at. First is the pillars that support the floor over a crawl space, inspector wasn't sure the distance (12') was right for code so I'll have a contractor take a look. Second issue is plumbing, master bathroom sink was turned off and had a bucket under it...assuming it leaks. The second bathroom's tub drain was pouring water into the crawl space. Plumbing is an easy fix that even I could do in an afternoon but they obviously knew about it and didn't mention anything on the disclosure. I'm worried about the supports because that would be a big expensive project. Other than that I found out the garage is insulated which is awesome and it looks like I'll be spending some time painting/sealing things and going through a few tubes of caulk. Also need to do a little insulation work in the attic but there is plenty of space and it is easy stuff (spring rods). I'm pretty excited and look forward to moving in. Well bank is being a pain in the rear end, wants to push closing from April 13th to the 30th. I've already agreed to give the current owners 7 days after closing to move out. Just wonderful... NitroSpazzz fucked around with this message at 17:05 on Mar 17, 2012 |
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Mar 17, 2012 14:57
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Bovril Delight posted:I imagine that 2 would be considered a gift and would fall under the IRS gift tax regulations. I believe you can give 12k a year in gifts before it starts hitting your lifetime tax free amount.
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Mar 17, 2012 20:42
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Are there any sites that keep track of houses that have been taken off market and what they were listed for? I'm helping my parents search for a home, and I remember last summer / fall there were 25-30 houses listed on a particular lake in Michigan. Now there are only 8 (and personally I think they are way overpriced for what they offer, which is why they might still be up), but I'd like to see if I could go back and see the details about the houses, what they were listed for, and if they sold. If they didn't sell, I'm hoping they will come back on the market and maybe at a lower price than last summer. Thanks!
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Mar 17, 2012 23:45
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I know Zillow has a "Recently Sold" option, on the map pages.
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Mar 18, 2012 01:50
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Thanks, I checked that out. I ended up zooming all the way and finding info on a few more properties. Now I guess it is just waiting to see if any will get relisted at a reasonable price. The trend I'm seeing is houses end up selling for $100k or so less than what they were listed for at one point (after being taken on and off the market for a few seasons). Hopefully when some of these places get relisted we can use that historical data to our advantage. Another question: any way to track down the last sale price of a house? I've checked the tax records, and sale price isn't listed, just current assessment value. Would I have to contact the county directly? Is there any rough conversions from assessed value to what it could be sold for value?
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Mar 19, 2012 21:32
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Any really good resources out there about the process of selling your first home and buying your second? Seems like everything is targeted to first time buyers, there's very little solid info for us trying to ladder climb a bit. Our realtor has filled in most of the knowledge gaps but I'm an overkill kind of guy and like to read every last bit of information on any endeavor I'm undertaking.
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Mar 19, 2012 22:41
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It's pretty straightforward. Any specific questions?
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Mar 19, 2012 22:44
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RichieHimself posted:It's "working" it's just slow as gently caress as there aren't enough people to handle the workload. My wife works harp poo poo for a large bank and things are a mess and getting worse as more people apply. They've been hiring temps like crazy for the past few months but they're barely staying above water. Some groups have mandatory overtime of 26+ hours which is pretty crazy for an hourly worker. Its March 19th and apparently these online systems for Harp 2.0 should be in place, but I still can't find anywhere to apply. Can you bother your wife for me, say its for your estranged cousin. CatchrNdRy fucked around with this message at 01:57 on Mar 20, 2012 |
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Mar 20, 2012 01:52
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CatchrNdRy posted:Its March 19th and apparently these online systems for Harp 2.0 should be in place, but I still can't find anywhere to apply. Can you bother your wife for me, say its for your estranged cousin. Where have you been looking? I haven't heard from any of our customers that there other big lenders aren't participating to one degree or another - BoA, Wells Fargo, Citi, etc. Your local mortgage broker or community bank should have lenders they will work with that are doing it as well. These aren't exactly complicated mortgage products, it would be kinda weird for a mortgage company to not be doing them at all. I think I remember you mentioning you were with Provident currently? I think they're not doing it, but they seem to just be a servicing outfit so that's less surprising.
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Mar 20, 2012 02:09
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Captain Windex posted:Where have you been looking? I haven't heard from any of our customers that there other big lenders aren't participating to one degree or another - BoA, Wells Fargo, Citi, etc. Your local mortgage broker or community bank should have lenders they will work with that are doing it as well. These aren't exactly complicated mortgage products, it would be kinda weird for a mortgage company to not be doing them at all. No that's someone else. I have the mortgage with Bank of America. The current page is for old Harp? http://homeloanhelp.bankofamerica.com/en/home-affordable-refinance.html I guess I was expecting some mortgage rate aggregator like Lending Tree specifically with a Harp pull down selection. Should I just be applying generically for a refinance, do I not need to specifically look for a Harp designation?
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Mar 20, 2012 02:17
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Lt Moose posted:Another question: any way to track down the last sale price of a house? I've checked the tax records, and sale price isn't listed, just current assessment value. Would I have to contact the county directly? Is there any rough conversions from assessed value to what it could be sold for value?
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Mar 20, 2012 02:17
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