Mortgage

what are the steps to follow to get real estate that is in foreclosure or take over somebodies mortgages?

edwardwarior — Mon, 22 Feb 2010 01:17:10 +0000

edwardwarior asked:

there are multiple website that show you where the real-estate opportunities are. however, there are ways to acquire homes without the involvement of banks or real estate agents for huge equity.if anyone has good advices do share.

bank loans and real estate is not what I am looking for here

R&S Christians: Do you think poverty & joblessness are problems that religion can cure, but not government?

Andy_F — Mon, 22 Feb 2010 01:04:55 +0000

Andy_F asked:

If so, what do you think the Christian churches of the United States should be doing in this time of widepsread poverty, when nearly 10% of Americans are unsuccessfully seeking work, and about 20% of all home mortgages in the US are in danger of foreclosure by the banks?

Does your church or your religious denomination have a good plan for tackling poverty on this scale?

If so, what is it?

Will this end up at closing?

Kahmal_towz — Mon, 22 Feb 2010 01:02:22 +0000

Kahmal_towz asked:

Im buying a short sale house. First mortgage was with through Bank of America…this was approved, second mortgage on the house was with Old Republic, they want $4000 and will sign off on the title for the house. Sellers and buyers are negotiating the $4k for the second mortgage and I will pay the $4000 if I have to to get the house. Will I get to close on this house??

How much of a home equity loan will we be able to get?

curious — Mon, 22 Feb 2010 00:49:13 +0000

curious asked:

In 2001 my fiance bought our 3 bedroom ranch house for $80,000. At that time, our house appraised at $84,000. We have made improvements such as water softener & purifier(2001), new roof (2003), new tub surround & toilet (2004), new windows in master bedroom (2006), new carpet & tile throughout (2006), water proofed the basement (2010). We now owe around $55-60,000. We want to add onto the house, expand the kitchen/dining room, add a full bath, & add a bedroom. One contractor thinks it will cost $50-60,000 to do this. He makes around $55,000/yr. How much of a home equity loan do you think we’ll be able to get? If we can get a home equity loan, will we be able to keep it at 5% (which is the interest rate on our 15yr home mortgage)? If you don’t think we could get that much for an equity loan, is there some other loan we may be able to get?

I am single and exempt why should I owe taxes?

Andrew_M — Fri, 19 Feb 2010 01:54:51 +0000

Andrew_M asked:

My question is I am Single no dependents what so ever, I have no car, no mortgage, and received a full refund last year and expected to receive one again this year. I claimed exempt as I always have because like I said my refund status was good. I receive no government assistance what so ever. And lastly I barely make just over minimum wage. Why do I now owe money in taxes?
Oh and also why is that on the W4 form next to where you write Exempt does it say “This year I expect a refund of ALL federal income tax withheld because I expect to have NO tax liability.” If that’s not what it means?

Renting out a house for Mother-in-law.?

bmurph — Fri, 19 Feb 2010 01:47:05 +0000

bmurph asked:

My mother-in-law inherited her fathers home free and clear, no mortgage. She has been trying to sell it for a year now. I had suggested to her that she should rent it out, until the economy turns around, and then put it back on the market. My father-in-law is terminally ill, and my mother-in-law has no time to spend dealing with the house. My wife and i have discussed renting the house for her and we would take care of the maintenance and collect the rent, and work out a percentage of the rent for doing this. We have mentioned it to her, but have not talked seriously about it yet. What would be a fair percentage for managing this for her? Is this a good idea?

McCord Financial Statement Ratios?

Lost — Fri, 19 Feb 2010 01:33:37 +0000

Lost asked:

McCord Financial statement ratios?

Selected year-end financial statements of McCord Corporation follow. (Note: All sales are on credit; selected balance sheet amounts at December 31, 2004, were inventory, $32,400; total assets, $182,400; common stock, $90,000; and retained earnings, $31,300.) McCORD CORPORATION Income Statement For Year Ended December 31, 2005 Sales . . . . . . . . . . . . . . . . . . . $348,600 Cost of goods sold . . . . . . . . 229,150 Gross profit . . . . . . . . . . . . . 119,450 Operating expenses . . . . . . . . 52,500 Interest expense . . . . . . . . . . 3,100 Income before taxes . . . . . . . 63,850 Income taxes . . . . . . . . . . . . . 15,800 Net income . . . . . . . . . . . . . . $ 48,050 McCORD CORPORATION Balance Sheet December 31, 2005 Assets Liabilities and Equity Cash . . . . . . . . . . . . . . . . . . . . . . $ 9,000 Accounts payable . . . . . . . . . . . . . . . . . . $ 16,500 Short-term investments . . . . . . . . . 7,400 Accrued wages payable . . . . . . . . . . . . . . 2,200 Accounts receivable, net . . . . . . . . 28,200 Income taxes payable . . . . . . . . . . . . . . . . 2,300 Notes receivable (trade)* . . . . . . . . 3,500 Long-term note payable, secured Merchandise inventory . . . . . . . . . . 31,150 by mortgage on plant assets . . . . . . . . . 62,400 Prepaid expenses . . . . . . . . . . . . . . 1,650 Common stock, $1 par value . . . . . . . . . . 90,000 Plant assets, net . . . . . . . . . . . . . . . 152,300 Retained earnings . . . . . . . . . . . . . . . . . . 59,800 Total assets . . . . . . . . . . . . . . . . . . $233,200 Total liabilities and equity . . . . . . . . . . . . . $233,200 Required Compute the following: (1) current ratio, (2) acid-test ratio, (3) days’ sales uncollected, (4) inventory turnover, (5) days’ sales in inventory, (6) ratio of pledged assets to secured liabilities, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders’ equity

Okay moving in with a guy and I have a question…?

curious_female____ — Fri, 19 Feb 2010 01:26:34 +0000

curious_female____ asked:

So he is buying a house, putting the down payement on it and we are going to live there. He is going to rent rooms out since he has, 3 other sbesides his own, that he wants to share with me. So if he really cares about me should he be asking me to help pay the mortgage??What is your take?

Im filing for Chpt 13 Bankruptcy.I want to keep my house and first mortgage. Can I make my 2nd?

Zippy — Fri, 19 Feb 2010 01:19:04 +0000

Zippy asked:

Mortgage part of the bankruptcy and not pay it.

Republicans, how can I put the cost of my mortgage off budget like you put cost of wars off budget?

da_yooper57 — Fri, 19 Feb 2010 01:12:58 +0000

da_yooper57 asked:

I need to balance my budget when you balanced your budget you did so by putting cost of wars off budget theN you claimed you balanced the budget.

PLEASE SHOW ME HOW TO DO THAT IN REAL LIFE!