You can sell your home earlier and pay off the mortgage but you might face penalties. Each bank has their own rules for the penalties but its usually a few month of your mortgage payment.

If there is a government lien even the wires that are in process will be frozen.

Powered by

I have my house listed with a realty firm for sale. i have it listed for about 80 days and so far no buyers. the economy is tough and we have actually decided that we will rent it to a couple that we know for the next couple of years and hopefully, ride out the storm a bit. i have rented our other house before and i am well aware of the risks associated with renting, so don't waste my time. i need to know the following, can we terminate our contract with the real estate firm and rent it out, without paying any kind of penalty? i think that our contract expires in about 1 month so we might even wait until it expires and see if we get a buyer befrore that. is there normally a time period that you have to wait until after the expiration of the contact that applies if you decide to rent it instead of sell it? our realtor did have an open house and also advertising costs and i would rather not have to reimburse them. i don't have to pay a fee to the realtor for the rental do i? i kow that certain exclusions apply with having to pay the realtor commission even if we sell the house to someone without the aide of the realtor and i think that it applies for a certain period after expiration of the contract but is there any provisions when you rent it out? if anyone has definite information regarding any of my questions then let me know otherwise, don'[t guess and leave a answer of "yes". if there is a broker out there then they should have this information based on the norm. i know that the realtor contacts vary but just reply based on the normal or average realty contract. i really don't think that i have to pay a fee if i find a renter but i am not sure. i think that i might have to pay for the fees associated with advertising the house for sale during the term of the contact if i terminate it prior to the end date but do i have to pay a fee for renting it out?

You are more than welcomed to terminate your contract immediately. For legal reasons, it is always best to mail him a dated copy of the termination of contract notice plus also keep a copy for yourself. To be safe, I usually recommend that it's signed and mailed back to you or you can do all of this in person. There is no rule that you have to keep your current Realtor. In fact, you can fire your Realtor and get another one. Just because you agree to list with a Realtor for X days doesn't mean you have to ride out the contract - it's a huge misconception. The Realtor might want you to reimburse him/her for the amount of money s/he's spent into listing your home (ie: time, advertisement, etc). To be sure about what you're liable for you, you should read your listing agreement with the Realtor. If you get a renter, you are not required to pay the Realtor a thing. Remember that you contracted the Realtor to SELL your home and not rent your home. If you signed a sell or lease agreement, then you might have to pay him/her. But if it's a listing contract to help you sell your home, then you don't have to pay him/her a dime when you have a renter.

Powered by

I would think this is illegal.....it reads the following; buyer will not openly market the unit, or allow another party to openly market unit for a 1 year period starting on the date of the close of escrow on the purchase of the unit of the buyer. the term "openly market" means any marketing efforts including, without limitation, (a) listing the unit with any licensed real estate agent or listing in the multiple listing service or its equivalent (b) advertising the unit as "for sale" in any manner including, without limitation, any form of media or physical signage if this was legal, i would think lenders would put this is in loan documents long ago. instead, lenders utilize prepayment penalties...... i need to find the statute that protects individuals and enables them to sell real property at any given time

they do this to protect the other homeowners in the community from investors

Powered by

Mortgage banking meltdown: there's no valid reason but that america's corporate politicians are subservient to wall street and the super rich. the bush administration on friday announced plans for a massive and unprecedented federal bailout of the us banking system. in separate appearances friday morning, treasury secretary henry paulson and president bush announced a series of measures to shore up collapsing financial markets and called on congress to pass legislation next week to use, in paulson’s words, “hundreds of billions” of taxpayer dollars to buy virtually worthless mortgage-backed assets that cannot be sold on the market from banks and other financial institutions. paulson said he would meet over the weekend with congressional leaders to lay out the details of the government plan. with this plan, the full cost of the immense debts piled up by the banks will be imposed on the american people. it will shift the banks’ liabilities onto the federal government, sharply increasing government budget deficits and the us debt, a process that can only further erode the creditworthiness of the united states and place a bigger question mark on the value of the us dollar. the immediate line-up of both parties and the media behind the bailout plan for wall street stands in the starkest contrast to their indifference and inaction in regard to the plight of millions of american working people, who face a rising tide of home foreclosures, layoffs and sinking living standards. when it comes to the social needs of the people, the universal cry from corporate america and the two parties is, “there is no money,” but when the fortunes of the financial elite are threatened, the full power of the government and unlimited resources are marshaled virtually at a moment’s notice. there was no suggestion in the statements of bush and paulson of any relief for the working class—nothing to stop home foreclosures or help those who have already lost their homes. rather, hundreds of billions—and more likely trillions—of dollars in public funds will be used to prop up the banks. the resulting bankrupting of the government will be used to justify a brutal assault on what remains of social programs, including medicaid, medicare and social security, and demand even greater financial “sacrifices” from workers, whether the next administration is headed by obama or mccain. nothing could more clearly demonstrate that behind the façade of american democracy there stands a dictatorship of big business. in his statement, paulson said “comprehensive” action was needed “to address the root cause of our financial system stresses. the underlying weakness in our financial system today is illiquid mortgage assets that have lost value as the housing correction has proceeded.” this is a lie. the root cause of the crisis is the unbridled parasitism of american capitalism, which over a period of decades has dismantled huge sections of industry in order to reap super profits for the rich by means of financial speculation and fraud, based on a colossal buildup of debt. now the bill is being passed to the american people. bush, flanked by paulson, bernanke and cox, called for a government bailout of wall street in the name of “our system of free enterprise.” “there will be ample opportunity to debate the origins of this problem,” he said. “now is the time to solve it.” there will, in fact, be no debate or discussion. nobody will be held accountable for the greatest financial scandal in world history. there will be no penalties. no one who made tens and hundreds of millions from the plundering of america will be forced to give back a dime. all of the financial resources of the united states are being placed at the disposal of wall street and every american citizen, without being asked, is being given the responsibility for covering the debts of the richest people in the country.

Yes, I obviously do, that was part of several of my answers concerning the financial debacle and an excellent analysis by Barry Grey of the World Socialist Web Site, my preferred site for straight talk

Powered by

Any editing? ....... brianna hanc of fort bend ymca a bill to be entitled an act requiring all texas animal breeders to acquire a license in order to breed and sell animals and declaring an emergency. be it enacted by the ymca youth legislature of the state of texas section 1: definitions clause a) “breeders”: any person or company who mates and sells animals for profit. b) “fine”: any designated sum of money to be charged for failure to comply to licensing rules and regulations. c) “license”: permit to do business section 2: purpose clause to ensure that all animal breeders practice humane, safe and responsible care of all animals when breeding and selling said animals for profit, and to ensure that animals are not over populated creating the need to euthanize the unwanted animals. section 3: provisions clause a) all animal breeders must complete the akc canine health foundation’s “breeder’s symposium” course on proper care and treatment of animals which includes health, safety, dangers of over breeding, and proper living conditions to obtain the animal breeding license. b) the license will expire after a period of five (5) years at which time the breeder will need to retake the course to renew the license. section 4: enforcement clause if any person is breeding and selling animals without the proper license they will be assessed a fine in the amount of $700.00 and/or a penalty of three (3) days in jail depending upon the conditions of the animals and their environment. section 5: effective date clause this act shall take effect ninety (90) days after its passage. section 6: repealer clause all laws or parts of laws in conflict with this act are hereby repealed to the extent of the conflict. section 7: severability clause if any portion of this act shall be declared unconstitutional, it is the intention of the legislature that the other portions shall remain in full force and effect. section 8: emergency clause the importance of this legislation and the crowded condition of the calendar in both houses create an emergency and imperative public necessity that the constitutional rule requiring a bill to be read on three (3) separate days in each house be suspended, and this rule is hereby suspended.

This is the photography section. This might be a better place to ask: http://answers.yahoo.com/dir/index;_ylt=Ak0.PzOBFrSXQ3LwW99FdMwjzKIX;_ylv=3?link=list&sid=2115500193

Powered by

We had three rental houses and all three went empty around the same time (back in early summer). we sold one and lost our shirts on it. we had to pay over $50,000 to sell it! the other ones stayed empty from august till january. we rented out one of the two, but the third one is still empty and i am two months behind on the mortgage. we have advertised on craig's list and have lowered the rent $400 from what we usually get. we are now offering the house for under the mortgage payment. we contacted a company that claims to "buy your home" but the guy i spoke to initially has failed to return my calls and now i wonder if he even is/was interested at all. because we are literally living paycheck to paycheck and can barely pay our own mortgage on our primary residence let alone the car payments and other living expenses, it has become difficult to want to keep the empty rental house. we contacted the bank in person and they agreed to defer payments for three months and modify the loan so we have 1.5% less in interest which has lowered our monthly payment. (november 1st was to be the first month to pay the new payment after the deferral period). but without a tenant in there to pay the rent, we can't pay it out of our own pockets. i think we have exhausted all of our options with the bank. our cars are almost paid off, so to sell them and get something less expensive would (in my opinion) be a stupid move since we have less than a year to go and those loans are paid off. we have tossed the idea around of dipping into our 401-k to cover our immediate needs, but there is a penalty to pay to do that and we would end up with less to retire on ultimately. i think our only hope is to walk. honestly our credit is bad now anyway because of late payments on other loans and bills because of this nightmare. we have bill collectors calling everyday from 8:00am till 8:45pm...even on sunday! does anyone know what would happen if we just walked away from the house? i know that our credit will take a major hit for many years to come, but it's already in the hole now, so what do we have to lose? can the bank come after my primary residence? help! i need advice before i take anymore steps into the abyss.

You don't have many options left. Try talking with the lender about "deed in lieu of foreclosure". While it has a similar impact to your credit, is less than a full foreclosure (from what I'm told). If you let them go, and the lender forecloses the balance of your financial status will change. Most credit card companies are having a field day with folks over this. Doesn't matter if you've paid them on time and paid balances off each month. They dropped us to $1300 in a heartbeat on a Friday nite. We live on our credit cards... Good thing we had groceries already. But realize this impact is for 7 years on the outside. You could talk with a bankruptcy attorney, but I would do that only as a last resort. That is 10 years on your credit. Just know and prepare for credit issues at every turn. And even employment can be impacted. I'm having a hard time finding work because of it.

Powered by

I have a plan to help the economy. it may be my one good idea for a lifetime. you get to decide? ok here goes. we stop foreclosures, and instead set up a foreclosure board, what this does is it allows the board to set the payments that the owners can afford. say one person loses their job. ok the payments go to half. no penalties. then the government pays the interest the bank would have made on the other half of the full payment,. so the bank loses nothing, and the home owner gets to stay in their homes. next the bank gets to continue listing the full value of the home, the value of the home on the day it was last sold. not the value of the neighborhood, and that value is listed till the home is sold, and only then goes down. that would spread the devaluation over a much longer period of time. finally, and any one involver in the housing scam would be taxed at 100 percent over 100, 000 dollars a year. that means all the bankers who were involved, and even if they leave banking the 100 percent tax continues for 15 years to fine them for doing this to america and to pay for the government help the home owner must now have. this includes the realtor's. there it is, what do you think of my "sky is falling plan?"

You state some good ideas, but it would not work because you are creating a false market for housing. The housing market is a market so prices of homes will fluctuate. If the demand of homes is very high, the price of the homes will be high, but since the supply of homes is high, the price drops. This would be creating a false market for homes and compensate people who made bad decisions and got ripped off. The government was involved in the housing scam first of all allowing people to purchase homes with close to no money down in adjustable mortgage rates. This created a false demand for homes and pushed prices to the max. Bankers were doing their jobs under the current laws, while the contracts may have been a scam, the contracts were still signed by homeowners which makes it a binding contract. When a bank forecloses on a house, they usually take a huge hit financially on their books, so it is not in the banks best interest. The government was the problem in the first place, pushing these loans to people who could not afford them, that is all we need is more government to solve this problem. When you think of government run organizations, picture yourself at the DMV and all of the brilliant minds who work there.