Property Law area
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Landlord Tenant -- Legal Forms
By WORLDLawDirect [March 18th, 2010]
Whether you are a landlord or a tenant, we have exactly the form you're searching for. From the creation of a lease to its termination–whether commercial or residential. Simply click on your State and select the appropriate form. When you purchase our products you receive up-to-date, high quality forms approved and adopted for use in all relevant courts. You may also obtain information on filing and serving the documents when necessary. There's no waiting–our forms are available for instant downloading.
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FAQs
Your most common questions answered:
- What determines whether they give me the mortgage?
- [August 21st 2006]
- Mortgage lenders use two formulas to determine if you're likely to meet your monthly payments. In regard to the amount of monthly payments, the rule of thumb is that you should pay no more than 30 percent of your gross income. If your gross income is $3,500 a month, the mortgage payment should not exceed $1,050. Also, your total debt ratio should be below 40 percent - that is, the mortgage payment plus all the rest of your debt (school loans, car, other debts) should be under $1,400.
- Should I use a broker to buy a home?
- [January 14th 2007]
- Brokers know something about the inventory in your target neighborhoods and, if they're good at what they do, they'll quickly know something about you. But brokers are legally - and in fact - agents of the sellers who pay them a commission that usually runs from five to seven percent of the purchase price. As such, they are obliged to get the highest possible price for the seller. Property sold without agents are known as FSBOs, or For Sale By Owner.
- What is a mortgage?
- [March 13th 2009]
- A mortgage is a loan from a financial institution to buy property that is then used as collateral for the loan. The three main elements of a mortgage are: amount, the total sum you owe the financial institution, interest rate, which is determined by current market conditions, competition among lenders, and your credit-worthiness, and loan term, how long the borrower has to pay off the loan, usually 15 or 30 years. If you have questions, contact us!
