Ontopic Foreclosure
- Thread starter Shalimar
- Start date
Post some pictures of said windows, lack of gutters shouldn't cause water damage outside of rotted sills and water running into basements which you apparently lack.
it just f'ing doesn't.
what are they called, eaves? the roof (6 years old btw after a hurricane put a tree through it to the tune of 8K, a month after insurance canceled my policy because I had trees over the house that I cut back to satisfy them and they canceled anyway) has about a half inch lip. that's it. it's an old house.
that obviously requires gutters.
They are called eaves. It's not surprising really. Tract housing, especially ranches, esp from the 1950-1975 era, are commonly sans eaves because it is cheaper and faster to build. As soon as you add eaves you have to add soffits (or brackets) which require more labor and materials. Not a lot, but cutting a lot of traditional design elements adds up to dolla dolla bills when you are building an entire subdivision.
Big question is whether or no he has gables or if it's a hipped roof.
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That's easier since rain is only flowing down two sides. It just has to be flashed carefully.
If you decide to keep it I would see if there are any reputable rehab companies. You don't want to have a window/siding/door/or gutter company working on it because they aren't just selling labor + expertise, they are selling materials and their profit margin comes from their main "product." Most of the construction industry is made up of idiots who fell into it and don't care about doing a good job.
Finance is all about making your case/demonstrating you know what you are asking for then just looking for the right fit. There are books and free info on home ownership lending...
http://www.nw.org/network/index.asp
The Emergency Homeowners' Loan Program is over... *sigh* http://ehlp.nw.org/
http://www.makinghomeaffordable.gov/pages/default.aspx - is pretty good info in there
Several reasons not to pay cash:
A) Equity in real estate and cash are not the same thing.
B) Non leveraged position if the value of the property increases (also works the other way of course).
C) Depending on tax bracket you could be cleaning up with interest deductions that you wouldnt otherwise have access to.
Paying cash makes more sense when interest rates are high, or when you would be tying up less than 50% of your liquid assets.
i haven't checked but I will. did some online research that told us most didn't. but yes, i need to check.
i mean yeah.. what ZRH said.
that's why pro athletes still finance their houses right ZRH? dudes get hundreds of millions of dollar salaries and still have mortgages.
but obviously i don't know too much.