I own a dead asset i.e. land; could I use it as collateral to buy a used car?
Answers: It would really depend on your creditor if they accept the lot as collateral. If they do, it would depend on how much is the appraised value of that land. The appraisal also considers the location and use of that land. Say, if it's a commercial lot, it would usually command a higher valuation. But then again, not all banks or creditors accept buying a used car for loan purpose. If they do give car loans, it is usually for a brand new one.
Where do you get the idea of that land is a dead asset?
Land gains value, in most markets, like any other type of property.
However, if it's not gaining value where you are...why don't you sell it instead of borrowing against it.
NEVER use real estate to purchase something that DEPRECIATES such as a car or to pay of unsecured debt such as credit cards, etc.
NO,even if u own it and all paid off still no! unless u sell it and have it cashed in bank.doesn't make sense does it? i had the same issue to use my land to buy a house. unless u start building something on it - even framing a shade- u cant use it as a collateral.
Can a manager only suddenly stop accepting booth 8 contained by PA?
Does anybody know where to find the law out about screened-off area 8 in Pennsylvania or know the bit 8 laws? I enjoy a grandmother who has be a tenant of a row house for 20 years and they just sent her a memo this week saying they weren't going to adopt her section 8 anymore. She any pays them full price or she has to give notice. I need to know if this is lawful in Pennsylvania?Answers: Section 8 is flexible, no landlord is FORCED to adopt it indefinitely. Because of her long term residence they should give her a 60 days awareness of the change, to impart her time to move.
Take a look at the lease.
Does it say anything roughly speaking section 8 person the payment method?
Does it mention that the agreement is subject to revision?
A land lord can't correction the lease unless it says something around changes anyone possible.
But regardless, do you really want to see your grandma living in that big-hearted of environment?
I suggest helping your grandma find a new apartment
It's trial everywhere. Landlords are not required to accept Section 8 rental payments if they choose otherwise. That regulation changed about a decade fund. The ONLY requirement is that a landlord cannot debris Sec 8 from certain tenant while accepting it from others. It must be a uniform rule for all tenant.
If Grandma's annual Section 8 lease agreement is up now, the tenant can change the rules when it expires.
Yes it is officially recognized she can also contact http://www.phrc.state.pa.us/
http://www.phfa.org/pal/ to look for housing
Are in that first time home buyer programs for buyers that hold to do stated income?
My wife and I live in California and own to do a stated income loan because we both work for tips for a living. We both have credit score above 750. Our loan officer said that first time home buyer programs are only for buyers that be in motion full doc. Does anybody know of any local or federal government grant or buyer programs for stated income first time home buyers?Answers: You can go Full Doc as long as you can show you hold been depositing those tips constantly. You would necessitate verify with 1 year of guard statements and 2 years of tax returns. Credit Scores are great and would relief you purchase a home. Yes, you can get a first time home buyers program person in a tip worker position. Need Help! Ask. Happy Living!
Your loan officer is correct. I have never see a bona-fide first-time buyer program that was anything but full doc.
You DO NOT hold to claim stated income b/c you work for tips...can you not count your money at the end of your shift?? Is in that some reason that you own no idea of what you own in your pocket?
By the IRS guidelines, you are supposed to be reporting 100% of your profits to pay the appropriate taxes...what you are doing is nought short of tax evasion and I am sorry to enunciate, federal and state housing programs don't support that.
Now you know the drawbacks of cheating Uncle Sam.
I'll bet if you save up some of that tax-free income you earn, while the rest of us that are honest toll payers pay taxes on ALL of our income, you will probaby discover you don't obligation downpayment assistance programs.
There are. But you will need a down money.