Monthly Archives: December 2011

How much will cell phone tower affect my rental asking price?

Q:  If there is a cell phone tower on the building across the street and clearly visible from my apartment, how much will this affect rental asking price? Read More.

How can I start building my credit?

Q:  I’m in my early twenties and am looking to get my first credit card. My parents are not in my life financially and every time I apply I am denied, assuming its because my credit is non-existent. How can I start building my credit without help from my parents accounts? Is there a certain site? Or do I go to my bank? And is applying to random cards hurting me in anyway? Read More.

If I should have to sell, what would be a better tactic to present to the buyer: offer a credit at closing or drop the asking price?

Q:  I own a condo in which the kitchen and bathroom are not yet renovated. If I should have to sell without having the work done, what would be a  better tactic to present to the buyer:  offer a credit at closing or drop the asking price? Read More.

I recently heard every time your credit is reviewed it hurts the score. Please explain how this works and what it does to the score?

Q:  I recently heard every time your credit is reviewed it hurts the score.  Please explain how this works and what it does to the score? Read More.

Which is a better, a coop with a high or low tax deductibility?

Q:  Which is a better building, a co-op with high or low tax deductibility? Read More.

We were told our loan was going through and now they are saying our debt to income ratio is probably too low.

Q:  We have a house appraised at $720,000. We recently applied for a refi and home equity loan since our current mortgage is based on LIBOR and we are concerned about interest jumps on our adjustable. We have never had an issue with not being able to make payments till now. My husband is a financial adviser and hasn’t been able to earn enough to pay our bills. We have dwindled our savings to nearly nothing. We were told our loan was going through until the mortgage guy was fired last month and now they are saying our debt to income ratio is probably too low. We need the home equity loan to hold us over until we can figure out how to increase our income, etc. Now what? My income has doubled but is very low given my profession … Read More.

Can you please tell us how general credit balances affect the scores?

Q:  Can you please tell us how general credit balances affect the scores? Read More.

If a buyer is looking to move quickly on a property, do they need to be pre-approved or pre-qualified?

Q:  I’m a realtor in PA with a well known company, and we also have a mortgage company. You keep saying that you need to be pre-approved, not pre-qualified. Our lender says that it cannot be a pre-approval if a client is looking to move quickly on a property because pre-approvals need to go to underwriting, and underwriting is working on all the transactions in the works, which can be a time-consuming process. They of course check credit, get W2, and pay stubs. Read More.

How does a co-op work? Are appliances included? How soon should I start working with an agent?

Q:  I will be relocating to NYC within a few years for work and have started casually looking around for housing options.  I had a few questions. How exactly does a co-op work? Are appliances generally included? How soon ahead of moving should I start working with a real estate agent? Read More.

Do I have any legal recourse to force a buy-out?

Q:  I co-own a home I live in with my ex-fiancé. I have offered to buy her out of her share of the home. Her legal residence is at the home, but she hardly occupies the home (though she is paying her half of the mortgage every month). Do I have any recourse to force her into a buy-out (file for a “Partition” in court)? Read More.