Is it necessary to file a eviction when the home owner and yourself never had a lease to rent out the home?

Q. The home owner was to resign the house back to the REAL home buyer after 2 years. Home owner will not resign and moved out. Left the buyer with all the payments and now is planning to move out.

A. Honeslty, I am not really getting what you want.

The home owner has to file an eviciton to either forably remove someone from their property, or to garnish wages from someone who rented (no lease is required) from them and owes them money. There are no other reasons to file an eviction. There are also no other ways to either forablyl remove or garnish wages.

Original Question

How exactly does a rent-to-own house deal work for the renter?

Q. I keep finding articles geared toward the home owner putting their house up, but what exactly are the pros and cons for a renter? And how exactly does it work?

A. You might pay $1,000 a month in rent. The owner agrees to accept $300 per month as a credit towards your final purchase. After 3 years, he has $10,000 of your money held for you. If you decide not to buy it, you walk away.

The problem comes if you agreed to pay $100,000 and the value drops to $70,000 in one year. You already agreed to pay $100,000.

Original Question

I need a good website for renting a home?

Q. I am looking to rent a home but I do not want to go through LPM or MPM or any company like those. I have dealt with them before and it is a big hassle. I can't find a website that lists homes for rent by their owners though. Any help I would greatly appreciate. I have already tried Craigslist.

A. Rent.com
apartmentlad.com
craigslist.com

Jim Pendleton � Mr Mortgage , (Google me- about 9,180 results) having been blogging and answering hundreds of questions, as well as helping thousands of clients like you. Jim Pendleton is a person of personal integrity and someone you can trust. Being an affiliated with a Federal Chartered Bank, operating in all 50 states, doing FHA, VA USDA, construction loans, residential and commercial lending. We cover all scenarios and can help you accomplish your goals and desires.
Thanks,
Jim Pendleton
Mr. MortgageTM direct lender -All 50 States
631-451-7400
631-963-9626 FAX
631-834-5427 cell

Original Question

Where is the best place to find a home for rent?

Q. I've been looking for a home to rent for quite some time. The internet has been no help at all. Every time I search for rental properties, I end up just seeing apartments. I cannot move to an apartment due to the fact that I have a dog that needs a yard to exercise. Do you know where a good place to look for rental HOMES is. I live in the Hamilton area of Ohio.

A. Many people with homes for rent advertise in the local newspaper only. They don't want to deal with overseas scams, and people who don't know the area. So check the paper. You may have a hard time to find a rental if you have a dog, and consider that owners don't want the yard torn up by a dog that is let out unsupervised and allowed to bark for a long time. If you can show that you always walk the dog, clean up after him every time, and get a reference from your present landlord, you may have an easier time.

Original Question

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Is it necessary to file a eviction when the home owner and yourself never had a lease to rent out the home?

Q. The home owner was to resign the house back to the REAL home buyer after 2 years. Home owner will not resign and moved out. Left the buyer with all the payments and now is planning to move out.

A. Honeslty, I am not really getting what you want.

The home owner has to file an eviciton to either forably remove someone from their property, or to garnish wages from someone who rented (no lease is required) from them and owes them money. There are no other reasons to file an eviction. There are also no other ways to either forablyl remove or garnish wages.

Original Question

How exactly does a rent-to-own house deal work for the renter?

Q. I keep finding articles geared toward the home owner putting their house up, but what exactly are the pros and cons for a renter? And how exactly does it work?

A. You might pay $1,000 a month in rent. The owner agrees to accept $300 per month as a credit towards your final purchase. After 3 years, he has $10,000 of your money held for you. If you decide not to buy it, you walk away.

The problem comes if you agreed to pay $100,000 and the value drops to $70,000 in one year. You already agreed to pay $100,000.

Original Question

I need a good website for renting a home?

Q. I am looking to rent a home but I do not want to go through LPM or MPM or any company like those. I have dealt with them before and it is a big hassle. I can't find a website that lists homes for rent by their owners though. Any help I would greatly appreciate. I have already tried Craigslist.

A. Rent.com
apartmentlad.com
craigslist.com

Jim Pendleton � Mr Mortgage , (Google me- about 9,180 results) having been blogging and answering hundreds of questions, as well as helping thousands of clients like you. Jim Pendleton is a person of personal integrity and someone you can trust. Being an affiliated with a Federal Chartered Bank, operating in all 50 states, doing FHA, VA USDA, construction loans, residential and commercial lending. We cover all scenarios and can help you accomplish your goals and desires.
Thanks,
Jim Pendleton
Mr. MortgageTM direct lender -All 50 States
631-451-7400
631-963-9626 FAX
631-834-5427 cell

Original Question

Where is the best place to find a home for rent?

Q. I've been looking for a home to rent for quite some time. The internet has been no help at all. Every time I search for rental properties, I end up just seeing apartments. I cannot move to an apartment due to the fact that I have a dog that needs a yard to exercise. Do you know where a good place to look for rental HOMES is. I live in the Hamilton area of Ohio.

A. Many people with homes for rent advertise in the local newspaper only. They don't want to deal with overseas scams, and people who don't know the area. So check the paper. You may have a hard time to find a rental if you have a dog, and consider that owners don't want the yard torn up by a dog that is let out unsupervised and allowed to bark for a long time. If you can show that you always walk the dog, clean up after him every time, and get a reference from your present landlord, you may have an easier time.

Original Question

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If you own a company and the company pays home office rent, does the company have to 1099 the owner?

Q. If you own a company and the company pays home office rent, does the company have to 1099 the owner? In other words, I assume the office rent is rent exp to the company and the monies rec'd by the owner is rental income. How is the rental home rent income classified on the personal tax return.

A. The company would need to send the owner a 1099-misc for any rents paid to them if the owner is not incorporated. For example, if the owner is an individual, an LLC, or a partnership, they will need to send them a 1099 for the amount of rent paid to them as it is income. If the owner is an incorporated company, they do not need to do this. Regardless of the owner, the company will report it as rental expense on their tax return

Since you are asking how the income is classified on a personal tax return, I assume its an individual you are asking about. They would report it on Schedule C of the 1040 as rent income.

I hope that makes sense. Good luck.

Original Question

Home for rent in owner says its in mortification stage of bankruptcy, what does this mean?

Q. We are looking at homes to rent and we found one that is going to eventually be foreclosed on. The owner said its in mortification stage right now and he has filed bankruptcy. He said its another 1-1 1/2 year out before its going to be foreclosed on. Can anyone tell me what this means? We live in WA state. Thanks!

A. mortification? A mortified house? Mortified bankruptcy? This makes no sense. There is no such term in real estate.

Original Question

Where do home owners advertise rental homes in North Dallas?

Q. I look at the internet sites and they all have the same homes for rent. I am wondering where do home owners advertise their homes. I will drive through neighborhoods and see homes with rental signs in their yards Do these home owners also list in newspapers or weekly flyers? What newspapers or flyers are out there for me to read?

A. Try Craigslist

Original Question

Can you own two home owners insurance policies?

Q. I have one Home owners insurance policy. It just barely covers the cost of rebuilding which is close to the mortgage amount, in case of fire etc. Can I get a 2nd Home owners insurance policy to compensate me for my losses outside of the actual building of the house it self?

A. Owning two identical insurance policies and collecting on both of them is illegal. HOWEVER, you can read the current contract of your insurance policy (I know, it is absolutely impossible to read b/c it is confusing, but still...) and try to see whether your personal property (i.e. items INSIDE the house are covered) Also, your homeowners insurance should have a set amount of coverage to cover your expenses in case you need to rent a place while your home is being fixed if it was affected by a "covered peril." You should also have a coverage where your insurance company idemnify (cover) you in the event that you committed a tort (civil wrong) and are being sued (if it was intentional tort, you will not be covered). If you are having difficulties reading your policy, go to your insurance agent and ask him all these questions. Make sure you are covered and HAVE him/her show you in the policy where it discusses that specific coverage. If the insurance agent tells you one thing and then you are not covered in the event something goes wrong, you may have a claim (law suit) against the insurance company (if that insurance representative was insur. company's AGENT) or against that representative himself (if he was your broker).
Additionally, you can also look into UMBRELLA coverage. Umbrella insurance coverage is available to individuals who want protection BEYOND what they already have. It is usually not as expensive since you are paying for the coverage in the event that your primary insurance policy doesn't cover your loss completely (i.e., you have a $300,000 homeowners policy, then umbrella insurance will cover if there is damage above $300,000 to the specified amount). It is also a good idea to have such policy if you earn a lot of money b/c then if you are sued for something, you will not be PERSONALLY responsible for the damages.
Remember though that the first place to start at is reading your policy, then if your property is underinsured, update your policy limits. You may want to ask for additional excluded peril coverage (i.e., flood, hurricane, natural fires, earthquakes, mudslides, etc. are NOT covered under the standard h/o insurance). If you go with the umbrella coverage, make sure it covers YOU, and not the property b/c if your property is worth $x amount, neither umbrella nor your h/o insurance will pay you more...
I hope this helps =)

Original Question

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Is it necessary to file a eviction when the home owner and yourself never had a lease to rent out the home?

Q. The home owner was to resign the house back to the REAL home buyer after 2 years. Home owner will not resign and moved out. Left the buyer with all the payments and now is planning to move out.

A. Honeslty, I am not really getting what you want.

The home owner has to file an eviciton to either forably remove someone from their property, or to garnish wages from someone who rented (no lease is required) from them and owes them money. There are no other reasons to file an eviction. There are also no other ways to either forablyl remove or garnish wages.

Original Question

How exactly does a rent-to-own house deal work for the renter?

Q. I keep finding articles geared toward the home owner putting their house up, but what exactly are the pros and cons for a renter? And how exactly does it work?

A. You might pay $1,000 a month in rent. The owner agrees to accept $300 per month as a credit towards your final purchase. After 3 years, he has $10,000 of your money held for you. If you decide not to buy it, you walk away.

The problem comes if you agreed to pay $100,000 and the value drops to $70,000 in one year. You already agreed to pay $100,000.

Original Question

I need a good website for renting a home?

Q. I am looking to rent a home but I do not want to go through LPM or MPM or any company like those. I have dealt with them before and it is a big hassle. I can't find a website that lists homes for rent by their owners though. Any help I would greatly appreciate. I have already tried Craigslist.

A. Rent.com
apartmentlad.com
craigslist.com

Jim Pendleton � Mr Mortgage , (Google me- about 9,180 results) having been blogging and answering hundreds of questions, as well as helping thousands of clients like you. Jim Pendleton is a person of personal integrity and someone you can trust. Being an affiliated with a Federal Chartered Bank, operating in all 50 states, doing FHA, VA USDA, construction loans, residential and commercial lending. We cover all scenarios and can help you accomplish your goals and desires.
Thanks,
Jim Pendleton
Mr. MortgageTM direct lender -All 50 States
631-451-7400
631-963-9626 FAX
631-834-5427 cell

Original Question

Where is the best place to find a home for rent?

Q. I've been looking for a home to rent for quite some time. The internet has been no help at all. Every time I search for rental properties, I end up just seeing apartments. I cannot move to an apartment due to the fact that I have a dog that needs a yard to exercise. Do you know where a good place to look for rental HOMES is. I live in the Hamilton area of Ohio.

A. Many people with homes for rent advertise in the local newspaper only. They don't want to deal with overseas scams, and people who don't know the area. So check the paper. You may have a hard time to find a rental if you have a dog, and consider that owners don't want the yard torn up by a dog that is let out unsupervised and allowed to bark for a long time. If you can show that you always walk the dog, clean up after him every time, and get a reference from your present landlord, you may have an easier time.

Original Question

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