We’re borderline desperate, and I’m simply not sure where else to turn for help. Our lease for our apartment runs out next month, and the apartment has been flooding for over a week now and we’ve been fighting with maintenance to fix it, so we really don’t want to renew. We’re paying $1100/month in rent right now, we both work full time making a combined 80k/year approximately. It seems like house payments in our area are at least $400 less than what we pay in rent, so it seems doable, however 1) we have no down payment and 2) we have no idea where to start. We’ve got two car payments each month as well as a personal loan we’re paying off and I have student loans, if that means anything. I’ve tried various google searches and keep getting different answers. We just want to be in a house. Any advice would be greatly appreciated,\n\n

Hi Jignesh,\n\nI understand your situation and I\'m sorry you are experiencing this. My advice to you is get in touch with a lender. They will be able tell you exactly how to move your money around so you can get qualified for a mortgage for a house given your current situation. It may take a little time, it may not. If you would like some suggestions for lenders, please send me a text at 281-607-6760 or an email to vanesmarealtor@gmail.com and I can point you in the right direction. I wish you the best!

I work with a community bank moving into the Houston market and want to try and fill in any white space that realtors have identified in the mortgage market. What is the industry missing that we can provide?

Hi Matt!\n\nAbsolutely! There are two big ones that I see repeatedly. \n\nOne is for people with ITINs. According to the IRS, an ITIN, or Individual Taxpayer Identification Number, is a tax processing number only available for certain nonresident and resident aliens, their spouses, and dependents who cannot get a Social Security Number (SSN). It is a 9-digit number, beginning with the number \"9\", formatted like an SSN. HUGE market for this. \n\nThe other is for people with low credit scores. I´ve worked with several people who meet the cash/income requirement but whose credit scores are below or just below traditional financing limits. I only know one lender who can go as low as 520 because he works with private investors to get people financed. There is room for another lender serving that market. \n \nPlease let us all know when you\'re ready!

Property is under a lease contract. Lease will start on Aug 28th, but as agreed on a contract tenant has failed to pay deposit and fIrst month rent on Aug 20th. How can landlord terminate lease due to breach of contract. Tenant has not occupied the property as lease will start on aug 28th,

This sounds like an issue for a real estate attorney, so please have your landlord consult one! That said, in this case, the tenant is in default. Your landlord may have legal recourse (should they choose to pursue legal action). \n\nPlease see below, extracted from the TAR Residential Lease (TXR-2001), 27. B.\n\n27. DEFAULT:\nA. If Landlord fails to comply with this lease, Tenant may seek any relief provided by law.\nB. If Tenant fails to timely pay all amounts due under this lease or otherwise fails to comply with this lease, Tenant will be in default and:\n(1) Landlord may terminate Tenant\'s right to occupy the Property by providing Tenant with at least one day written notice to vacate;\n(2) all unpaid rents which are payable during the remainder of this lease or any renewal period will be accelerated without notice or demand;\n(3) Landlord may exercise Landlord\'s lien under Paragraph 23 and any other rights under this lease or the Property Code; and\n(4) Tenant will be liable for:\n(a) any lost rent;\n(b) Landlord\'s cost of reletting the Property including but not limited to leasing fees, advertising fees, utility charges, and other fees reasonably necessary to relet the Property;\n(c) repairs to the Property for use beyond normal wear and tear;\n(d) all Landlord\'s costs associated with eviction of Tenant, including but not limited to attorney\'s fees, court costs, costs of service, witness fees, and prejudgment interest;(e) all Landlord\'s costs associated with collection of amounts due under this lease, including but not limited to collection fees, late charges, and returned check charges; and\n(f) any other recovery to which Landlord may be entitled by law.\n\nHope this helps!

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