Buy to Let Building Insurance

I’m just curious if anyone knows the legality of not paying your mortgage when you technically could afford to.

I know someone who lives with her boyfriend who owns a house. The mortgage went up $300-$500 a month. Instead of her helping him cover the costs, they’ve decided to “take advantage” of the whole housing mess, and let him go into forclosure (against everyone’s suggestions I might add). She is now getting a home loan under her name, for them to buy a new house…using the money they’ve saved by NOT paying his mortgage at all this year as the down payment. I understand a lot of people are walking away from their mortgages…but this just seems totally wrong to me, and there should be some sort of legal reason they can’t do this, since they obviously don’t care morally…or don’t care about his credit score. It just feels like they’re spitting on all the people who have worked so hard for their homes and are still losing them.

i have bad credit and have had a ccj within the last 12months will i ever be accepted for a mortgage?

My husband and I are approved to buy our first home this year. We are going through an FHA lender and planning on buying a HUD Foreclosure home since there are so many in the area we’re interested in.

We have outstanding loans for a car, and a stupid debt consolidation (big mistake). The car one I am not worried about, but the other loan I am.

Let’s say the HUD price is $81,000 and the value is above that. On a first mortgage can we borrow up to the value on the home so we can roll one of our debts into the mortgage and eliminate that? Or would I need to wait a year to do it?

Hi, does anybody know if 75% is all lenders wil lend on buy to let mortgages these days? meaning that you need to find 25%, or does anybody know of any lender that will lend more than 75%??? thanks in advance.

Both my boyfriend and I have very, very bad credit. We have paid all of our debts off, but that still does not help our cause.

We want to own a home and NOT rent.

How are we going to be able to get a mortgage w/ such bad credit. We do not want to be renters forever. We CAN afford a home, but we can’t get the loan.
Sorry, we are getting married. That’s why we are buying a home.

i need a mortgage and have little money down. monthly income is around $5500 and really no other bills. however, i have a bankruptcy that is just over a year old. my credit scores are 630, 624 and 600….does anyone have any suggestons where i could find a mortgage company that will finance me with the mortgage meltdown as it is now?

how long does it take to get a buy to let mortgage? i have chosen the bank i want to use and the house i have built is ready to be valued

Have a credit score of around 620-640. Past wage garnishment (a year ago) but paid off early. Past car repossession (reason for the garnishment.) Other small things charged-off. Only looking for a mortgage loan of $25K or less with $10K for down payment. With todays economy, is there any chance of finding a mortgage company? What kind of rates would I be looking at?

i have built a house and decided to rent it out. i am just wondering if anyone can tell me how long it is going to take to get a decision off the bank. they have all they need including bank statements, proof of income valuation figure etc and have been told it is ready for underwriting. does anyone no how much longer it is likely to take for a decision now that they are at the underwriting stage

And what about the average amount lent?

I want to buy a house to let out in the region of £60,000 to £70,000 do you think i would be able to get a Buy-to-let mortgage at 19 years old?? Earn about £8000 a year