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Old 09-18-2010, 05:04 PM
 
Location: North Carolina
52 posts, read 50,057 times
Reputation: 22
Quote:
Originally Posted by WhoFanMe View Post
FHA and FHA 203k (borrowing more than the purchase price to finance repairs) mortgages are available with as little as 3.5% down, which could be a gift. USDA RD (which may or may not be funded at this writing) are available with 100% financing (no money down) to qualified buyers in qualified areas. VA loans are available to qualified buyers with no money down and no Mortgage Insurance. While it's not as easy to get a mortgage as it used to be before the meltdown, those mortgages are readily available to those with a long term employment history and a good credit score. While this won't help the OP in July 2010, it might for others who are lurking.

Oh yea....you don't need mortgage insurance on a USDA loan either.
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Old 09-18-2010, 06:48 PM
 
Location: God's Country, Maine
2,052 posts, read 2,819,668 times
Reputation: 1269
Quote:
Originally Posted by OutDoorNut View Post
Whatever happened to the term, "assumable mortgage"?

I used to see it a lot in R.E. ads around twenty or more years ago, but it seems to me it's been a long time since I've seen that term.

What happened to it?
Assuming you have a credit rating of 800, probably.
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Old 09-19-2010, 12:05 PM
 
Location: Cooper Maine
392 posts, read 250,069 times
Reputation: 318
Quote:
Originally Posted by OutDoorNut View Post
Out of curiosity, what's so bad about living in Canada?

What do you miss living up there?

I'd like to know, because there is an outside chance I might consider moving to coastal Canada instead of to coastal Maine.
If your a American citizen you can buy a house there BUT you can not live there more then six months out of the year. IF you do they will take you house and boot you back to the USA. If you want to stay there you have to become a citizen and that AIN'T cheap. If you are staying there and use there system IE schools or hospitals then there is a good chance you will be put on the persona non grate list. IE the next time you cross into the USA they wont let you back into Canada not even to get your clothes. There is a very nice retired couple in Lubec who bought a very nice house on Campobello only to find out AFTER they bought the place that they could not live there full time. So they had to buy another house in Lubec ( sucking up a good portion of there retirement ) so now they jump back and forth to keep legal status in Canada to avoid loosing there home there.
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Old 09-19-2010, 10:14 PM
 
4,285 posts, read 10,133,379 times
Reputation: 3690
Quote:
Originally Posted by Maineguy04654 View Post
If your a American citizen you can buy a house there BUT you can not live there more then six months out of the year. IF you do they will take you house and boot you back to the USA. If you want to stay there you have to become a citizen and that AIN'T cheap. If you are staying there and use there system IE schools or hospitals then there is a good chance you will be put on the persona non grate list. IE the next time you cross into the USA they wont let you back into Canada not even to get your clothes. There is a very nice retired couple in Lubec who bought a very nice house on Campobello only to find out AFTER they bought the place that they could not live there full time. So they had to buy another house in Lubec ( sucking up a good portion of there retirement ) so now they jump back and forth to keep legal status in Canada to avoid loosing there home there.


Complete and utter rubbish.

Why would anyone assume that merely buying property in another country would permit them unlimited access to that country?

An American (or any other non-citizen of Canada) who has entered as a visitor is indeed required to stay only for a certain length of time and hten return home -- that's why they're called visitors.

Those who enter on Visitor visas are required to respect limits on their time in the country, but things haven't yet reached the point where private property is arbitrarily seized without compensation.
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Old 09-20-2010, 07:47 AM
 
Location: Cooper Maine
392 posts, read 250,069 times
Reputation: 318
Quote:
Originally Posted by Cornerguy1 View Post
Complete and utter rubbish.

Why would anyone assume that merely buying property in another country would permit them unlimited access to that country?

An American (or any other non-citizen of Canada) who has entered as a visitor is indeed required to stay only for a certain length of time and hten return home -- that's why they're called visitors.

Those who enter on Visitor visas are required to respect limits on their time in the country, but things haven't yet reached the point where private property is arbitrarily seized without compensation.
Really? You may want check with the queen on that one.

I personally know the people I spoke about and read the letters from the Canadian government telling them if they stayed longer then six months there property would be forfeit due to illegally immigrating to canada.


My neighbor has a grandson in Canada he can not have come visit him here in America as his grandson holds American citizenship his parents died and he lives with his mothers parents who are Canadian and live in Canada. The canadian gov will not recognize them as legal guardians and give the child canadian citizenship of the child but the child goes to school in Canada lives with them full time and has been to the hospital there. So he is free to travel to the United States but he is persona non grata from reentering Canada to live with him family.

So the fact is I actually have a little respect for Canada in the fact that they enforce there immigration laws with much more fervor then do our own free America. Though personally I would like to see us even tighter then Canada is. IE No papers you go directly to the airport or to the shipyard and get a ride back to whence you came. Unless you need to serve jail time first.
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Old 09-20-2010, 11:55 AM
 
1,061 posts, read 1,079,868 times
Reputation: 431
Quote:
Originally Posted by Maineguy04654 View Post
Really? You may want check with the queen on that one.

I personally know the people I spoke about and read the letters from the Canadian government telling them if they stayed longer then six months there property would be forfeit due to illegally immigrating to canada.


My neighbor has a grandson in Canada he can not have come visit him here in America as his grandson holds American citizenship his parents died and he lives with his mothers parents who are Canadian and live in Canada. The canadian gov will not recognize them as legal guardians and give the child canadian citizenship of the child but the child goes to school in Canada lives with them full time and has been to the hospital there. So he is free to travel to the United States but he is persona non grata from reentering Canada to live with him family.

So the fact is I actually have a little respect for Canada in the fact that they enforce there immigration laws with much more fervor then do our own free America. Though personally I would like to see us even tighter then Canada is. IE No papers you go directly to the airport or to the shipyard and get a ride back to whence you came. Unless you need to serve jail time first.
But there must be ways for American citizens to remain in Canada for longer than six months.

What if someone gets a job working for a company in Canada?
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Old 09-20-2010, 01:21 PM
 
Location: 3.5 sq mile island ant nest next to Canada
2,918 posts, read 3,101,513 times
Reputation: 1856
Quote:
Originally Posted by OutDoorNut View Post
But there must be ways for American citizens to remain in Canada for longer than six months.

What if someone gets a job working for a company in Canada?
I would imagine there is a way. We have work visas and so do they. We're pretty much twin countries. An Canadian is, after all, just an unarmed American with health insurance. They are more strict than we are on immigration though.
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Old 09-20-2010, 10:12 PM
 
4,285 posts, read 10,133,379 times
Reputation: 3690
Quote:
Originally Posted by OutDoorNut View Post
But there must be ways for American citizens to remain in Canada for longer than six months.

What if someone gets a job working for a company in Canada?

There are plenty of ways to remain in Canada for periods longer than 6 months -- work permits, student visa, etc.

Even folks who come in on visitor visa may apply to have their visitor status extended.
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Old 09-20-2010, 10:14 PM
 
4,285 posts, read 10,133,379 times
Reputation: 3690
Quote:
Originally Posted by retiredtinbender View Post
I would imagine there is a way. We have work visas and so do they. We're pretty much twin countries. An Canadian is, after all, just an unarmed American with health insurance. They are more strict than we are on immigration though.

You might be in for a surprise on that one.


You might also be surprised on some of the requirements of the US immigration system --- suffice it to say that both countries make foreigner jump through a series of legal hoops and the citizens of both countries often believe entry requirements aren't tough enough
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Old 09-21-2010, 05:13 AM
 
Location: 3.5 sq mile island ant nest next to Canada
2,918 posts, read 3,101,513 times
Reputation: 1856
Maybe it was a Brit that was an unarmed American with health insurance.

I worked immigration ion Calais for a bit a long while ago. We had a couple transferred from Texas up to here. He said it was funny. Down there the idea was to keep people out and up here we were trying to keep them coming in.

Oh, and good to see you back, CG.
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