Facebook shares sink 11 percent as reality overtakes hype(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday … More »Facebook shares sink 11 percent as reality overtakes hype
(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq …
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SHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract value from its most prized asset. Yahoo also increased its stock buyback authorization by $5 billion to $5.5 billion …
Wall Street rebounds, but investors dump FacebookNEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped … More »Wall Street rebounds, but investors dump Facebook
NEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. Tech shares were among the day's biggest gainers, with an S&P sector …
Apple still dominates world's top brands: study(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published … More »Apple still dominates world's top brands: study
(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 …
Exclusive: U.S. lets China bypass Wall Street for Treasury ordersNEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, … More »Exclusive: U.S. lets China bypass Wall Street for Treasury orders
NEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters. The relationship means the People's Bank of China buys U.S. debt using …
Silicon Valley takes Facebook fizzle in strideSAN FRANCISCO (Reuters) - Facebook's lackluster initial public offering performance is a black eye for many on Wall Street and could have ramifications for similar upcoming deals such as an offering by … More »Silicon Valley takes Facebook fizzle in stride
SAN FRANCISCO (Reuters) - Facebook's lackluster initial public offering performance is a black eye for many on Wall Street and could have ramifications for similar upcoming deals such as an offering by Twitter, but venture capitalists in Silicon Valley are keen to shrug off Facebook's stumble - at least for now. ...
Flurry of arguments start Gupta insider-trading trialNEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta "threw away his duties" by divulging bank secrets to hedge fund manager Raj Rajaratnam, a U.S. prosecutor said at the start of Gupta's insider-trading … More »Flurry of arguments start Gupta insider-trading trial
NEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta "threw away his duties" by divulging bank secrets to hedge fund manager Raj Rajaratnam, a U.S. prosecutor said at the start of Gupta's insider-trading trial on Monday. The defense punched back that the government had no direct evidence. Gupta, 63, once a boldface …
U.S. lawmakers frustrated in Wal-Mart corruption probeWASHINGTON (Reuters) - U.S. lawmakers investigating Wal-Mart Stores Inc for alleged bribery in Mexico are frustrated by the lack of cooperation they have received from the company, a committee staffer … More »U.S. lawmakers frustrated in Wal-Mart corruption probe
WASHINGTON (Reuters) - U.S. lawmakers investigating Wal-Mart Stores Inc for alleged bribery in Mexico are frustrated by the lack of cooperation they have received from the company, a committee staffer familiar with the investigation said. Attorneys for Wal-Mart briefed the committee earlier on Monday about the company's …
Insight: Morgan Stanley cut Facebook estimates just before IPO(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, … More »Insight: Morgan Stanley cut Facebook estimates just before IPO
(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to the huge initial …
- Some investors still await confirmation on Facebook orders
NEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday. Massive demand for … More »Some investors still await confirmation on Facebook orders
NEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday. Massive demand for the social networking giant's initial public offering on Friday, which set a trading volume record for U.S. market debuts, …
- Facebook stock slide puts new pressures on company
SAN FRANCISCO (Reuters) - Facebook Inc's underwhelming debut on Wall Street increases the pressure on the social networking giant to deliver stellar growth - a novel situation for Chief Executive Mark … More »Facebook stock slide puts new pressures on company
SAN FRANCISCO (Reuters) - Facebook Inc's underwhelming debut on Wall Street increases the pressure on the social networking giant to deliver stellar growth - a novel situation for Chief Executive Mark Zuckerberg, who has been clear he is more interested in building products than making money. Facebook shares fell 11 percent …
- Eaton to buy Cooper Industries for $11.8 billion
(Reuters) - Diversified industrial manufacturer Eaton Corp struck a deal to buy electrical equipment maker Cooper Industries Plc for $11.8 billion in cash and stock and said it would shift its incorporation … More »Eaton to buy Cooper Industries for $11.8 billion
(Reuters) - Diversified industrial manufacturer Eaton Corp struck a deal to buy electrical equipment maker Cooper Industries Plc for $11.8 billion in cash and stock and said it would shift its incorporation to Ireland to save on taxes. The deal, Eaton's biggest ever, will allow the company to offer a broader range of electrical …
- Nasdaq announces plan for unfilled Facebook orders
NEW YORK (Reuters) - Nasdaq has engaged federal regulators to untangle the problems that occurred at the opening of Facebook Inc's initial public offering on Friday that could eventually result in financial … More »Nasdaq announces plan for unfilled Facebook orders
NEW YORK (Reuters) - Nasdaq has engaged federal regulators to untangle the problems that occurred at the opening of Facebook Inc's initial public offering on Friday that could eventually result in financial restitution for investors who did not get shares at the desired price. The Financial Industry Regulatory Authority …
- Early Facebook mutual fund buyers still in money
(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares … More »Early Facebook mutual fund buyers still in money
(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares were priced at $38 per share in its initial public offering on Thursday. Despite an initial bump in their market debut …
Barclays to sell $6.1 billion BlackRock stakeLONDON (Reuters) - British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. … More »Barclays to sell $6.1 billion BlackRock stake
LONDON (Reuters) - British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. Barclays has held the stake for almost three years, a legacy of BlackRock's $15 billion purchase of Barclays Global Investors, …
Question
Realestate, rent-to-own question?
Last year, I filed bankruptcy. this year, I had a voluntary reposession, next month I am planning on letting my house go on either foreclosure or short sale. I've missed 2 or 3 payments on my house, I've not missed any payments on my car payments BUT there is this guy who wants me to put 5 or 10 thousand dollars on a rent to own house and then the contract says buy it, or loose all the money I put towards it. Will my credit be okay to buy it? Or am I just wasting my money? Do you think I should just rent until my credit built back up? I used to have a 950 credit score, but because of a bad loan its to 550. Is it possible that this lady knows that I won't be able to get a loan in 5 years when the due date is so that i can purchase the house so that she will be able to keep the money? Or will my credit be better in 5 years?
4 years ago - 5 answersBest Answer
You need to rent until you have good credit. You need to straighten out the issues that dropped your credit rating almost in half before jumping into any more commitments.
4 years agoOther Answers
Do NOT consider a rent-to-own scheme without having YOUR attorney draw up the contract! There are MANY pitfalls to this type of transaction. I have several personal friends who tried that only to learn that either the person they were dealing with didn't have the legal authority to transfer title or the owner had pledged the property as security for a loan. When they completed their contracts, they had no recourse except against a generally peniless seller.
If you can't afford to pay an attorney to draw up the agreement and run the usual title search then you can't afford to risk your money this way!
Boston is correct, if you are considering a rent to own, you need a rock solid contract.
Shysters are preying on those with troubled credit. They enter a contract with a bunch of stipulations to protect the property (which they should), but add provisions that are very challenging to meet. You rent for awhile, make a mistake and you are out without a dime.
Most rent to own contracts are set up a few ways. One is for those with troubled credit, you rent for a period of time (typically two or three years) to allow you to rebuild the credit scores. At the end of the contract you obtain a regular mortgage. Another option is for those with no downpayment, you rent for awhile and part of the payment is deposited in an account. When the contract expires, you have "saved" for a down payment. Some sellers carry the contract for the full term.
Make sure your contract covers what will happen to your deposit if you default or choose not to buy the house.
Whether your credit is improved in 5 years is up to you.
Source(s)
Oregon Realtor
by godged - 4 years ago1 - Right now your credit is in big trouble. A lot of things need to change. You need to take some time and assses what you can reasonably afford.
2 - Bankruptcy. In five years, this will not be a problem
3 - Mortgage lates. This will kill your ability to purchase at a decent rate for the next couple of years
4 - Foreclosure. 5 years will be adequate for your credit to recover.
Your credit could be in great shape in 5 years. It's up to you!
Source(s)
by MDHanner - 4 years agoMost rent-to-own fall through because the buyer keeps doing things to lower their credit score and often have a lower score than they had when they got into the rent-to-own.
Still I think it is a good way to go to buy a home. Your credit don't have to be as good as it used to be. If you can show your rent/option payment over the next five years were on time, buying the house will be a lot easier. Talk to a mortgage broker who work with people who are doing rent-to-own.
Also get yourself in one of those non-profit credit improvement program, your mortgage broker should be able to help you find a good one.
Then get a lawyer who has written lease option agreements.
Have the title checked for any liens or judgements.
Also record a memoraudum of option. Any lien attaching will then be in a junior position to your option.
