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My house payment is actually pretty low. We only pay like 590.00 a month and that includes escrow. The only thing I'm confused about with renting is, will that loan still be attached to my credit as a debt or does it become investment property and they write that off as income? Will I be denied another mortgage if I already, technically, have one, but it's being used as a rental property?
Hi Kaylamay
Welcome to Citi-Data - good posts above.
I have talked to countless of individuals across the country before, during, and after foreclosure. This is one option that will 100% destroy your financial future.
Your current mortgage will remain on your credit report until you sell the property or refinance without your name of the loan. If you are looking to move and keep the property by renting it out. When applying for a new mortgage to lower your debt ratio; want to show enough rental income (on a lease agreement and bank deposits) to cover (wash) the old mortgage payment.
The pit bull was taken and put down, even so the owner is still liable for your losses. Was there a police report? You may still be entitled to legal or civil action against the other pet owner.
I have a three year old rottweiler / chow mix (rotten-chow), named JD that is my companion. When he was 6 months old weighing 20 pounds, a group of Jehovah Witnesses came knocking at our door. When we opened the door to say we were not interested. Our dog got out and chased them off our property. At first actually kinda funny, but they called the police and I ended up in court. Resulting in me paying a fine.
Every weekend take JD to our local dog park, instead of running around. He sits with me on the bench watching the other dogs. He still has a habit of jumping up when me, my wife or son walk into our home. When a friend comes over, have to let him "sniff" the person, then he calms down. As he matures he is acting much better.
My view is if you and move now will bring even more stress, especially with the little one of the way. You do not need that. Focus on yourself and household organized and plan for the new addition into your family. You have time - the little pit bulls are still puppy's. Acting to quick can result in you getting into a situation you will later regret.
If you improved the security of the fencing, could you stay there and be happy? Fencing is a doable proposition!
We actually had a quote for fencing last night. 4800.00 for chain link. UGH. Seems kinda pricey. Anyways, now I'm fighting with the hubby because he doesn't want to invest that much money into it if we plan on leaving the house. I'm being torn in so many directions, I don't even know what to do.
OP, if your house is worth 60k (or 55k) and you have $4800 for a fence, you may just want to throw it at your mortgage instead to bring you closer to being able to sell the house. If you just throw extra money at it when you can, soon enough you can reach the point where you're only underwater by a few thousand. At that point, you can get a 0% intro CC or two and sell the house and rent.
OTOH, if the house is really just $20k, you might consider saving up to pay cash for another $20k house that doesn't have such troubling neighbors. Then you can move and rent out the current one. No worries about loan qualification if you aren't getting a loan.
The middle area, if it's worth $40k, is trickier since it's "too expensive to just buy another one and too cheap to sell this one".
180-200 linear feet.... I think...
and that's just chain link. I really wanted a privacy fence...
Estimate may be too high.... Just found this looking around for cost estimators:
Top-rated fencing pros tell Angie's List that, based on the average price for material type, and a typical fence length of 200 linear feet, here’s what you can expect to spend:
• $2,600 for chain-link, at $13 a foot
• $3,200 for wood, at $16 a foot
I'd get another estimate. And consider whether you can do any of it yourself to save costs. I would do it myself, but we have a farm... we're into that kind of thing.
I have talked to countless of individuals across the country before, during, and after foreclosure. This is one option that will 100% destroy your financial future.
Your current mortgage will remain on your credit report until you sell the property or refinance without your name of the loan. If you are looking to move and keep the property by renting it out. When applying for a new mortgage to lower your debt ratio; want to show enough rental income (on a lease agreement and bank deposits) to cover (wash) the old mortgage payment.
The pit bull was taken and put down, even so the owner is still liable for your losses. Was there a police report? You may still be entitled to legal or civil action against the other pet owner.
I have a three year old rottweiler / chow mix (rotten-chow), named JD that is my companion. When he was 6 months old weighing 20 pounds, a group of Jehovah Witnesses came knocking at our door. When we opened the door to say we were not interested. Our dog got out and chased them off our property. At first actually kinda funny, but they called the police and I ended up in court. Resulting in me paying a fine.
Every weekend take JD to our local dog park, instead of running around. He sits with me on the bench watching the other dogs. He still has a habit of jumping up when me, my wife or son walk into our home. When a friend comes over, have to let him "sniff" the person, then he calms down. As he matures he is acting much better.
My view is if you and move now will bring even more stress, especially with the little one of the way. You do not need that. Focus on yourself and household organized and plan for the new addition into your family. You have time - the little pit bulls are still puppy's. Acting to quick can result in you getting into a situation you will later regret.
Good Luck
Thank you.
We are actually having to go to court because animal control was called and I asked to press charges. But the court is only for criminal charges, fines from the city. My husband wants to take him back to court after all of this to see if we can get compensation. I know we won't get pain and suffering for this loss, and they will treat my dog as property-- he was more than property to us.
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