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How can you get a bank loan for a house when you don’t even have nearly as much for collateral? March 18, 2010

Posted by Banking in : Renting & Real Estate , 1 comment so far

I was looking at a book about real estate investing and it says you can take a small amount of money (Example:$10,000.00 and have the bank give you a $70,000.00 loan added to your $10,000.00 and you can invest in real estate by buying your first home. Now, how in the world is the bank going to give anyone that much money when they don’t even own that much? Plus, what if they’re credit is bad? I guess they can’t invest in real estate can they? If they still can, please explain to me how this is possible regardless of credit history?
I got this information out of a book about little or no money down on real estate investing. I think this is B.S., especially I went in the bank and tried to get a home loan and they told me my credit was way too bad.Submited by:God’sStrength

Where can I go to do a credit check on a potential renter? March 7, 2010

Posted by Banking in : Renting & Real Estate , 1 comment so far
I just became a landlord and need to do a credit check. Where can I go to do this?

By: KB

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Can banks adjust your interest rate on a home loan without actually going thru the whole refinance process? March 3, 2010

Posted by Banking in : Renting & Real Estate , 5comments

In terms of today’s economy and given all the programs to help people keep their homes, I heard from someone that some banks are just modifying loans with high interest rates, by lowering them to 4 or 5%. Is this true? Is there a program like this avaliable?
This is in the case that someone is near or in foreclosure because of some financial hardship.Submited by:Chad G

How do you as a preforeclosure investor get the loan money needed from the bank quick enough in order to? November 26, 2009

Posted by Banking in : Renting & Real Estate , 5comments
close the deal on time? Say the auction is in 10 days, how can you get that kind of money in Cash, into Escrow by then, and even find a bank/loan officer willing to approve you in that short of time? What’s the fastest amount of time that one can get a loan? 1 month? 2 weeks? Thanks!

By: kubex1

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What is the difference between a FULL background check and a credit check? November 22, 2009

Posted by Banking in : Renting & Real Estate , 3comments
I am renting my home and need to screen a potential tenant. Shoudl I do a FULL background check or credit check? Is credit history included in a background check?

By: albalicious

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How does rent to own homes work? Can I buy without a credit check? October 28, 2009

Posted by Banking in : Renting & Real Estate , 4comments

A Rose asked:


My credit is not good. Is there a way a home owner can sell to me without a credit check.

Dealing with Banks when trying to purchase a foreclosed home? October 24, 2009

Posted by Banking in : Renting & Real Estate , 3comments
I am trying to purchase a foreclosed home. I offered the bank the asking price for the home. The banks agent has yet to present the offer to the bank. He said he waits a week and then presents all offers.
Isn’t that practice a little unethical? Is that the “norm” for foreclosure sales? How long does it usually take a bank to respond to an offer?

By: countrylovin

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What do I need to do in the process of having a credit check run? October 18, 2009

Posted by Banking in : Renting & Real Estate , 3comments

SalexS asked:


I am renting a house with several other girls. The landlords want to run a credit check on us and our parents. Do we need to sign anything for them to be able to run it?

Also, the landlords want a parent to co-sign on the lease because we are students. My parents won’t sign anything to help me out. Is a co-signer necessary? Could one of the other girl’s parents co-sign for me?

Thank you!

Is it possible to get an apartment is wichita ks without a credit check? October 11, 2009

Posted by Banking in : Renting & Real Estate , 2comments

justinsyrell asked:


Is it possible to get an apartment is wichita ks without a credit check?

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