PebHmong Discussion Forum
General Category => General Discussion => Topic started by: Risingstars on November 11, 2020, 08:40:26 AM
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Hello i was wondering if anyone has experienced purchasing a home and was living in an apartment at the same time?
My current situation is that my brother is purchasing a home and is also living in an apartment and the underwriter thinks that he is jist using his credit towars the home purchase and not actually live there. Is there a law that states you must live in only 1 home? I thought you can do primary and secondary home addresses? The underwriter says its illegal to do that.
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Hello i was wondering if anyone has experienced purchasing a home and was living in an apartment at the same time?
My current situation is that my brother is purchasing a home and is also living in an apartment and the underwriter thinks that he is jist using his credit towars the home purchase and not actually live there. Is there a law that states you must live in only 1 home? I thought you can do primary and secondary home addresses? The underwriter says its illegal to do that.
it might just be the lender (bank) policy
if you are applying for like FHA loan (government assistance loan) and stuff
first time homebuyer and stuff
and you don't plan on actually living there
might be fraud
check other lender out
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when you apply for a home loan
they ask you all those question
don't lie on the paper
it will ask you if going live on this property or secondary and etc....
if you lie on the application and the lender (bank) find out
you might be in trouble
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The problem here could be homesteading since this can affect taxes on the property purchased. If the house won’t be his primary residence, then there may be tax implications on the property.
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dude if your brother just want to invest in real estate
just do what i do man
just buy REIT stock
like ticker symboer: $VNQ
save your headache, man
both you and I, ain't plumber and electrician, etc....
do you know how hard it is to fix houses and stuff man??
its hard man... when shyt start breaking down
old sump pump i had to take out
p=pebhmong
(https://i.imgur.com/KifEAqq.jpg)
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Well the thing is he is on a month to month now at his apartment. He has been living in the new home for 4 months now but still has the apartment leased month to month.
Nothing in a house isn't going to be perfect. Things break and you have to fix it. You can YouTube how to fix things around the house to save money. Plus your investing in your home in the long run so gotta think long term and not short term.
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a lot of the FHA loan run by the government and stuff
first time homebuyer
require you to stay in the home
on your application, they ask all those question
bro.... trust me
it's not worth lying on the application and going to jail
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Well the thing is he is on a month to month now at his apartment. He has been living in the new home for 4 months now but still has the apartment leased month to month.
Nothing in a house isn't going to be perfect. Things break and you have to fix it. You can YouTube how to fix things around the house to save money. Plus your investing in your home in the long run so gotta think long term and not short term.
talk to the leased landlord
and see if you can break out of it
might have to pay a early penalty fee O0
it's worth it, if you don't even live in the leased apartment
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a lot of the FHA loan run by the government and stuff
first time homebuyer
require you to stay in the home
on your application, they ask all those question
bro.... trust me
it's not worth lying on the application and going to jail
He not lying though lol, you can't just up and leave a lease can you? I know you gotta let the landlord know 28 days before you leave a month to month lease. If you can just up and leave that will be awesome.
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He not lying though lol, you can't just up and leave a lease can you? I know you gotta let the landlord know 28 days before you leave a month to month lease. If you can just up and leave that will be awesome.
you have to talk to the leased landlord
see if you can break out of it
there might be a penalty, most likely
if they nice, they let you go ;D O0
otherwise, you have to pay up till the leased term is over
HAHAH FAWK LEASED!!!
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If he intends to make the house his primary residence then there shouldn’t be any issues. There are many people that do this when transitioning from one home to another.
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you have to talk to the leased landlord
see if you can break out of it
there might be a penalty, most likely
if they nice, they let you go ;D O0
otherwise, you have to pay up till the leased term is over
HAHAH FAWK LEASED!!!
Yeah thats whats crappy about apartment lease. You have to pay for the break of your lease.
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Yeah thats whats crappy about apartment lease. You have to pay for the break of your lease.
yeah, man
fawk leased!!!
they are really predatory
hahahah
how long he has left on his lease term???
if the price is right
i would just pay the penalty and get out of it
NO POINT IN PAYING FOR A PLACE YOU DON"T LIVE IN
talk to the landlord, work something out
ALSO WELCOME TO THE HOMEOWNER AMERICAN DREAM
get ready for when shyt start to break down
ENDLESS HEADACHE
hahahahha
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Gratz man
WELCOME TO HOME OWNERSHIP
the American dream
My only advice is to buy a good lawn mower
Going be mowing grass every week during the summer
;D O0
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Hello i was wondering if anyone has experienced purchasing a home and was living in an apartment at the same time?
My current situation is that my brother is purchasing a home and is also living in an apartment and the underwriter thinks that he is jist using his credit towars the home purchase and not actually live there. Is there a law that states you must live in only 1 home? I thought you can do primary and secondary home addresses? The underwriter says its illegal to do that.
There are not any law that says you are tied down to any one location as your resident. I think your brother is confused. The Federal Government, for tax purposes, demands that you choose a location as your primary residents. But again, this is only for tax purposes. Mortgage Lenders also requests that you declare a location as your primary location because that determines your risk against the loan you're requesting. I have 2 rentals and both the interests on my rentals are much higher than my primary residents. Hope that helps.
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I have 2 rentals and both the interests on my rentals are much higher than my primary residents. Hope that helps.
see if you can refinance
my local bank offering 30 years at 2.5% depending on your credit scores
get them rate while it's cheap
i'm tired of dealing ENDLESS HEADACHE fixing houses
that's why i just go EZ MODE REIT stock
(https://i.imgur.com/o4VroCv.jpg)
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You are not azn enough if you don't know what to do.
You can live anywhere you want, as long as it is not in your name.
The new house can be put as his primary and his apartment, you can stand on it. They will find out if he use it as a rental cuz the loan term at that low rate is for him to live in it instead, he rental it out.
But still, you got to be azn to do this still. I'm not advising you to do it cuz that is criminal minded of me.
IF you rent out that new home, keep the utility bills under your name and trust that your tenant is honest enough to pay your bills on time. Your tenant can direct deposit your rent to you. There is one thing though. When the tenant move out, do not expect them to pay the final utility bill. They could go to city hall or utility company to pay but without the proper id of the person on the bill, they will not close out the account so you will be stuck with the collection bill.
Did I call it the AZN way? IT should be the criminal minded way. :2funny:
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I have 2 rentals and both the interests on my rentals are much higher than my primary residents.
damnnnnn...... bro
GRATZ man...
i got a hard denial when i try to apply for more mortgage loans
not enough income
it's hard man, require lots of capital to start up
hahahaha
that's why i just buy REIT stock
i probably own/share over 1,000 houses i never seen before ;D ;D O0 O0
less stress too
instead of $100k.... you can just pool in $1-100 per month... whatever
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You are not azn enough if you don't know what to do.
You can live anywhere you want, as long as it is not in your name.
The new house can be put as his primary and his apartment, you can stand on it. They will find out if he use it as a rental cuz the loan term at that low rate is for him to live in it instead, he rental it out.
But still, you got to be azn to do this still. I'm not advising you to do it cuz that is criminal minded of me.
IF you rent out that new home, keep the utility bills under your name and trust that your tenant is honest enough to pay your bills on time. Your tenant can direct deposit your rent to you. There is one thing though. When the tenant move out, do not expect them to pay the final utility bill. They could go to city hall or utility company to pay but without the proper id of the person on the bill, they will not close out the account so you will be stuck with the collection bill.
Did I call it the AZN way? IT should be the criminal minded way. :2funny:
dude i told you to come to WISCONSIN man
cheap houses
even your broke ass can live in a mansion ;D O0
here you go $30k house for you
that's one year of rice and bean
you can pay it off in one year
https://www.zillow.com/homedetails/51-S-Water-St-Glidden-WI-54527/232622031_zpid/? (https://www.zillow.com/homedetails/51-S-Water-St-Glidden-WI-54527/232622031_zpid/?)
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I would not want my name on any bills... this is just asking for trouble. You're save yourself a lot of future headaches and pain. I would just get out of the lease on the apartment and live in the house, since COVID, there are many legal ways to get out of a long term lease.
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I would not want my name on any bills... this is just asking for trouble. You're save yourself a lot of future headaches and pain. I would just get out of the lease on the apartment and live in the house, since COVID, there are many legal ways to get out of a long term lease.
how you deal with fixing broken stuff man???
i had to change this sump pump this spring
pain and headaches
wrong pipe size and everything
multiple trips to the store
i just bag it up and took it with me
(https://i.imgur.com/KifEAqq.jpg)
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how you deal with fixing broken stuff man???
i had to change this sump pump this spring
pain and headaches
wrong pipe size and everything
multiple trips to the store
i just bag it up and took it with me
(https://i.imgur.com/KifEAqq.jpg)
Get a good Home Warranty... 400 bucks per year for me, which is then baked into the price of rent.
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Get a good Home Warranty... 400 bucks per year for me, which is then baked into the price of rent.
me... personally, i think HOME WARRANTY is a waste of money
i bought all my stuff washer, dryer, etc... new when i move in about 10 years ago
haven't had any problem
still kicking strong
this sump pump only cost $80 to replace and some $10-15 pvc pipe
it just the endless headche of going back and forth to the stores
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dude i told you to come to WISCONSIN man
cheap houses
even your broke ass can live in a mansion ;D O0
here you go $30k house for you
that's one year of rice and bean
you can pay it off in one year
https://www.zillow.com/homedetails/51-S-Water-St-Glidden-WI-54527/232622031_zpid/? (https://www.zillow.com/homedetails/51-S-Water-St-Glidden-WI-54527/232622031_zpid/?)
about 3 hours to the closest hmong chick i can bone in Minneapolis. Not bad..
but nah... That city is cheap living for a reason. If I was in college and had the money to finance it and use it as a trap house to throw them college parties then sure. If there is no structure, no foundation, at least a friend who lives there long enough to bring me into his circle of friends so I can develop my own foundation so I would not miss home then sure.
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about 3 hours to the closest hmong chick i can bone in Minneapolis. Not bad..
but nah... That city is cheap living for a reason. If I was in college and had the money to finance it and use it as a trap house to throw them college parties then sure. If there is no structure, no foundation, at least a friend who lives there long enough to bring me into his circle of friends so I can develop my own foundation so I would not miss home then sure.
Suck
They scamming yall rent money in California
Hahaha
Not going spent 60-80% of my paycheck on rent
Thats fraud
;D
Come here if you want to be DEBT FREE
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Suck
They scamming yall rent money in California
Hahaha
Not going spent 60-80% of my paycheck on rent
Thats fraud
;D
Come here if you want to be DEBT FREE
You guys are used to living in misery. Yall are used to it. Cold is misery, Driving in snow is misery, Even your houses looked miserable to live in. :2funny:
I extended my vacation for an extra month and had it not for the abundance of hmong people sight seeing, I wouldn't want to spend more than a weekend in the midwest.
Now with covid, mn to the wis is a handicap place to enjoy the weekend night life. Downtown minneapolis is dead on the weekend, according to my cousin who lives in the suburb so what is left of there? Now to get me to live there, I need to fall in love with a local flavor. At least with that, it will be a party for 2 and I don't need to hunt for others.
I'll just stick with covid living in california. Expensive but a price to pay for commonality to what I'm used to and my sanity. Another good reason for a sudden move is if there is a tragic of something. Like I wake up and no one left for me. Hard break up, covid wiping out my people, my friends all left me and I'm back being a free agent and so with that, it forces me to give up california for all else is equal now. To find my identity and to come up in life again, I'll choose where my dollars can be stretched. Be bored in the midwest is better than bitter sweet memories in california.
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You guys are used to living in misery. Yall are used to it. Cold is misery, Driving in snow is misery, Even your houses looked miserable to live in. :2funny:
I extended my vacation for an extra month and had it not for the abundance of hmong people sight seeing, I wouldn't want to spend more than a weekend in the midwest.
Now with covid, mn to the wis is a handicap place to enjoy the weekend night life. Downtown minneapolis is dead on the weekend, according to my cousin who lives in the suburb so what is left of there? Now to get me to live there, I need to fall in love with a local flavor. At least with that, it will be a party for 2 and I don't need to hunt for others.
I'll just stick with covid living in california. Expensive but a price to pay for commonality to what I'm used to and my sanity. Another good reason for a sudden move is if there is a tragic of something. Like I wake up and no one left for me. Hard break up, covid wiping out my people, my friends all left me and I'm back being a free agent and so with that, it forces me to give up california for all else is equal now. To find my identity and to come up in life again, I'll choose where my dollars can be stretched. Be bored in the midwest is better than bitter sweet memories in california.
Bro
Winter is my favorite season
Ice fishing, skiing
Damn fun lur
Missing out
I come to California and there like homeless people everywhere
THATS MISERY
I almost step on a meth needle
I even bleed the fish too so it taste better
(https://i.imgur.com/phEWfPM.jpg)
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ALSO WELCOME TO THE HOMEOWNER AMERICAN DREAM
Living in other's basement with fake sump pump photo is not "HOMEOWNER".. ;D
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get ready for when shyt start to break down
ENDLESS HEADACHE [/color][/b]
AND NOPE, that just depends on the house and/or the owner..so it's not "always" .."ENDLESS HEADACHE".. ;D