Riverside, Corona Ca, short sale.

House Rental Finances Does It Pay To Rent Your House There are many ways to do background checks on prospective tenants--credit reports, past evictions, and criminal background checks, to name a few. Image: Alloy Photography/Veer You have a single-family house and you are considering renting out your home. Perhaps you’re temporarily relocating for work, or maybe you inherited your childhood home from your parents, and you’re not quite ready to part with it yet.... Renting can be a profitable choice, but it requires an investment of time, money, and organization to make it work. Here’s how to determine whether renting out your house is worth the cost. Calculate your monthly expenses You want to charge at least enough to cover your monthly outlay. So the first step is to use our free downloadable worksheet to calculate your costs. Start with regular expenses like mortgage, maintenance, and homeowners association dues. You may also need to upgrade your insurance coverage. Your agent can advise you about adding landlord insurance, a special type of policy that covers rental properties. As a rule, landlord insurance costs about 25% more than standard homeowners insurance. If you’re renting the house furnished, make sure you’re covered for the personal possessions you leave behind. Jane Cline, the insurance commissioner of West Virginia, tells owners to prepare a detailed inventory of household items. If you’re renting the house unfurnished, figure in the costs of moving and storing your items. Read more: http://www.houselogic.com//home-th/house-rental-finances/ Follow us: @HouseLogic on Twitter | HouseLogic on Facebook

1. The Price is (Getting) Right As solar panels and installation methods get more efficient, the price of residential solar electricity has dropped a whopping 46% since 2010. Meanwhile, the national average cost of an entire household system one big enough to power the everyday needs of a family of four has fallen from about $36,000 in 2010 to around $24,000, factoring in permits and installation. ... That still puts solar in the range of a new car and out of the reach of many but there’s much more to the cost story. Read more: http://www.houselogic.com/h/solar-energy/solar-panel-cost/ Follow us: @HouseLogic on Twitter | HouseLogic on Facebook

3. A Government-Guaranteed Loan The new rules set a clear line for how much of your income, max, you should be using for debt: 43%. If you’re above that limit because you have too much debt or not enough income, there’s a work-around. You can go over the 43% limit if your loan is guaranteed by Fannie Mae, Freddie Mac, the Federal Housing Administration, the VA, or the U.S. Department of Agriculture’s rural housing loan program.... Read more: http://www.houselogic.com//getting-a-mortgage-when-lende/ Follow us: @HouseLogic on Twitter | HouseLogic on Facebook

1. Your State Housing Finance Authority State Housing Finance Authorities specialize in helping first-time and low-to-moderate income homebuyers and homeowners. They’ll often give you a below-market interest rate or the option of putting down as little as 3%. In exchange, you’ll likely have to agree to complete a financial education course and prove every penny of your income.... Historically, HFAs have had much lower rates of late payments and foreclosures than for-profit lenders, so they’re exempt from the rules. Read more: http://www.houselogic.com//getting-a-mortgage-when-lende/ Follow us: @HouseLogic on Twitter | HouseLogic on Facebook