McMansion dreams give way to family -friendly realities

Detroit Free Press

Planning on building, buying or improving your home this year? Chances are you're thinking smaller, smarter and more family -centric. ...

Ohlone College star Reggie Jones has survived, thrived after family tragedies

Contra Costa Times

Reggie and his parents had once shared a home with his aunt and grandmother ... and one by one his family was stripped away. Ohlone coach John Peterson ...



and more »

Family upset after resident moved from Oroville nursing home

Mercury-Register

oroville -- The family of an elderly man who lived at an Oroville nursing home was told he needed to move out, ...



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Going from a townhouse to a single family home - what should we expect in cost differences?
Q. Besides a slight increase in our mortgage payment, what are some other costs we should expect when moving into a single family home. I'm kind of worried about all the hidden costs in this decision.
Asked by Cookie On My Mind - Thu May 31 09:37:36 2007 - - 4 Answers - 0 Comments

A. My husband and I are also facing this dilemma. We are closing on our first home mid-June. So far, we've had to shell out quite a bit of cash just to get the home in option pending period. Once we move in, we will now be paying higher mortgage, Home Owner's Association fees, lawn maintenance fees, higher utilities as the home is much larger, property taxes and this is just what I know so far. Who knows what surprises may come when we really move in. If you check back with me next month, I can try to give you a heads up.
Answered by Patty R - Thu May 31 09:47:44 2007

I am looking to possibly purchase a two family home?
Q. I am looking to possibly purchase an income bearing 2 family home. However I am not looking to reside in the duplex but keep it for income purposes only... The thing is is that the property available to me is only by rent to own. Im not sure what is involved with an option to buy? Can anyone help?
Asked by kaleenalynne - Wed Jun 7 08:26:35 2006 - - 2 Answers - 0 Comments

A. I would call a real estate agent and have them explain all the details to you. You'll need one anyways! Sounds a little fishy... most people offer rent to own but if they want to sell it they will sell it straight out. Why won't someone want all the money up front. I would def. have someone with a real estate cert read it over.
Answered by BUBBLES - Wed Jun 7 08:37:06 2006

How can I get information on refinancing a home after I purchase it out right to pay back family?
Q. I would like to purchase a home that a close friend has that is going into foreclosure. I am able to get the money to purchase this home from family if I can assure them I could get it back to them by refinancing the money out. I would purchase the house for right under 200k and it is worth a little over 400k. So I would not take out all of the equity in the house out. Only enough to pay back family and have some money for appliances and furniture.
Asked by sandybeachfrontoffice - Wed Nov 7 05:50:03 2007 - - 2 Answers - 0 Comments

A. Assuming that your figures are correct and not just a pipe dream, you can go to a mortgage broker and arrange for a mortgage on the property. If you are buying the property for $200K, you would need about $40K to get a mortgage at a reasonable rate without having to pay mortgage insurance. If the home is appraised at $400K, and you are paying $40K, there should be no problem financing it with a $160K mortgage, providing you have income with which you can repay the loan. If you are counting on family to provide the entire $200K, you still need the ability to repay the debt, and you need an income from which to make those payments. Keep in mind that owning a home involves additional expenses, such as maintenance, property taxes, insurance,… [cont.]
Answered by Serge M - Wed Nov 7 06:36:54 2007