Posts Tagged ‘Fiance’
Does this seem fair for owner financing (on a house)? Or is the guy trying to make a few bucks?
Sunday, February 14th, 2010My fiance and I have plenty of $ for a down payment on a house, but can not obtain a mortgage. A seller is offering financing @ 8%, and after 1/2 of it is paid (30k) he will give us a deed for trust. If we fall behind and don’t pay for 30 days, he pockets all of the money we have invested and we’re evicted. He has offered to pay taxes/insurance and just add it on to our principle.
He said that he has "been doing this all of his life". What do you think?
We would be dealing w/a real estate attorney as well (for the documents).
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Is fiance taking advantage of me? Should I buy house & not have name on deed to give him exempt tax status?
Sunday, January 31st, 2010My fiance and I own our own homes and he has an LLC with two partners. Recently we were looking at buying a new home together without selling our respective properties and both of us pulling our money together for a down payment. He informed me that he would have to have his name on the deed, without mine being on it, for a tax shelter/break because he claims exempt at work to not pay taxes because of all of the losses he has through his real estate investments and that he would have to use our home as a shelter to continue to claim exempt at work to continue to make more money for us. Is this true? would me being on the deed make that big of a difference with regards to his tax status and claiming exempt? He says we can do a side agreement stating I am owner of the home too. I told him I don’t feel comfortable with buying a home, not being married, and not having my name on the deed. He says he won’t let me hold him back so he is going to do it on his own.
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Anyone know of hard money loans to buy a house(s) at tax deed sale?
Wednesday, December 23rd, 2009I have been trying to find info on the internet about hard money loans to buy houses at an auction for like 2-50K worth. We have some money saved in savings but dont believe we can get a home loan becuase they say if they cant inspect the house which is usually the case with these auctions, then they cant give you a loan, or because the condition of these homes when the people are foced to get out. SO ANY ADVICE OF WHAT LOAN, I HAVE BEEN REJECTED FOR PRIVATE LOAN BY MYSELF, BUT MY FIANCE AND I WANT IN THIS TOGETHER. What are requirements for this hard money loan?
Is is it very likely we could qualify for this loan.
We dont own a house. We dont rent. I own a brand new car, little debt.Fiance just rid of his car,little debt. combined monthly income, ,000. Fiance credit is 690. Mine 715. Only colateral is my car. If they ask for a colateral do they do that when you get the house? as the colateral??
