• Home
• About
• Site Map

« Can you divide an undivided Moiety? | Legal help needed for condo owners with a big problm.? »

My husband went and took out a second mortgage on the house on my name. What do I do?

Posted by Real Estate Investor on Jul 09 | Real Estate Investing Chatter

He went and signed my name on the legal mortgage papers, and the mortgage company knew about this. I had no clue, I just found out. The mortgage is on forclosure now. Do you have any solutions as to what I should do., more 
and Reasonable Re-letting Fee?  Okay, the “standard” reletting FEE is 85% of one month’s rent. For this example, let’s say that the reletting COST is $630 (and the reletting FEE is $630, because the cost and fee are suppose to be the same amount legally).
Tenant signs 6 month contract.
6 month contract then ends after 6 months.
Tenant signs another 6 month contract. (Thus, saving the landlord $630 in reletting cost, right?)
6 month contract then ends after 6 months.
Tenant enters 1 month contract [under the terms of the previous contract] (Thus, saving the landlord another $630 in reletting cost, right?), and continues month-to-month for 8 months. Tenant pays an additional $100 per month for the month-to-month option. (Landlord is charging more to make up the difference for possibly an empty apartment, right?)
So, at this point, the landlord has saved at least $1260 in reletting cost, right?
Now, let’s say the tenant gives a 26 day move-out-notice instead of a 30 day notice. Let’s say the landlord finds a new tenant within this 26 day time frame.
At this point, (regardless of what the contract says, because the contract is not the law) how is it RESONABLE for the landlord to charge $630 for a reletting fee, when in fact they lost no money at all?
The true legal purpose of liquidated damages clauses is to set a flat fee when itâ??s impossible to determine the monetary harm that could result from a breach of the contract. This doesnâ??t apply to apartment management companies. They know (within a slim margin) how much money itâ??s going to take to fill a vacant apartment as they use these statistics everyday to project sales and calculate expenses. Reletting fees must be reasonable, and cannot exceed the landlord’s actual damages., more 

and We need a bigger house, but aren't ready with a big down payment! Advice- 3% down, rent to own, rent?  We listed our one bedroom place because it’s pricey and we’re outgrowing it (baby is 10 months) and we may have a buyer! We can afford a cheap “interim” place with two bedrooms right now, but what if we want a nicer spot in 2-3 years and lose more money? Any ideas on renting/current market/ other options?, more 

Where Can I Buy Mixmag in the US?  It’s like $90 for 12 issues in the US. Do they sell Mixmag anywhere in the US? And why is it so expensive. Barnes & Noble doesn’t have it and neither does borders.
Thanks, more 

and breaking a lease, but stay in same complex?  so i rent an apartment with my sister, my brother, and my brothers girlfriend. well im moving out in september for school. my brother and his girl are spltting, so the plan is to “break” the lease, but my brother wants to switch to a one bedroom in the same complex.
my question is, if he stays in the complex in a one bedroom since there is no need for a three bedroom anymore, will we still have to pay for breaking the lease?
hope that made sense, thanks!, more 

Tags: bank owned, real estate, investing advice, houses