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lendingmaestro, how about 3.) Make more money.

Trooper, how long did it take for your credit to recover?

Shay, with respect to your name on your grandfather's account: your "ownership" of the account must be seasoned--in most cases for three months. If you're going to use grandfather's account as qualifying assets, you should "hop on" his account immediately. In that case, you would need no gift...

If you get an FHA loan, the down payment--as low as 3%--can be 100% gift. There are (literally) thousands of homes in Orange County that now qualify for FHA financing to a maximum loan amount of $729,750. The "gift letter" is a special form that the giftor fills out.

jbatzmaru, the seasoning period for foreclosure, deed-in-lieu and short sale--that is, how long you must wait to qualify for another institutional loan--is now five years (used to be four).

All Home Loan Rates to Increase 2% Overnight Says MBA http://originatortimes.com/content/templates/standard.aspx?articleid=2765&zoneid=1

biscuitninja wrote: ...you can check to see when the house was bought, if they owe any taxes and how much money is owed on the house. [...] Example: They bought the house for 600k and the rent is 1900, uhh, no. Unless they put something like 400k down, then the 1900 won't even cover 50% of...

The definition of "rent skimming" is found in Calif. Civil Code ?890 et seq. There's no rent skimming issue until the owner has done it on more than 4 properties. http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=00001-01000&file=890-894 b) "Multiple acts of rent...

RSweetman wrote: Has anyone had success fighting any of the reporting agencies? Ohmigoodness, yes. For years, I held credit repair workshops where the participants got tons (no, scads) of derogatory entries off their credit reports. Send this form...

Irvine Renter wrote: Short sales are little different than a bankruptcy as far as a credit hit is concerned. No, they're not. The "seasoning" period for a subsequent mortgage loan is exactly the same for (1) foreclosure; (2) short sale; (3) deed-in-lieu; and (4) bankruptcy = 5 years (new...

Savinglots$$$Renting, pay no attention to the rude pretentious posters above who live in Irvine. Enjoy your view in Long Beach and love your life. My son lives a few yards from you at Villa Riviera and he enjoys his view, too.

Raise an eyebrow all you want, Eva. Graphrix chastising me was utterly rude and your comment was, too.

That's right, Graphrix is the moderator, and I would think he would be more gracious to newcomers until he gets to know their snarky ways. In any event, scolding me as if I was a child is also "uncalled for."

<< That was uncalled for, and I will give you one warning only, and it will stop right here and right now. >> Do not threaten me, sir. It's not nice. I, too, was being "snarky," although a < teasing > would have made that crystal clear. Yavol!

http://www.foreclosureforum.com/mb/index.html

It was a good day for bonds today. FNMA 30-Year 6.0% $102.69 +50bp FNMA 30-Year 5.0% $99.62 +100bp FNMA 15-Year 5.0% $101.31 +56bp GNMA 30-Year 5.5% $102.28 +59bp US 2-Year T-Note $101.00 +31bp US 10-Year T-Note $101.34 +134bp

<< most likely these types of people >> Apparently, one needs (1) a down payment; (2) a year's worth of living expenses and (3) perfect market timing to not be a "these types of people."

Yes, I see the distinction you're making. Since the money you use to trade options isn't borrowed money, you feel unleveraged, despite the nature of the investment vehicle itself, even though your stake can go to zero. EvaLSeraphim, stuff it.

I heard the same thing on a discussion board where the "pirates" meet 'n greet.

It's most likely unwieldy and will take months to get money out of the FDIC if the bank folds.