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MacDaddy1381

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  • Sump Pump Cycling frequently?

    My sump pump cycles every 2 minutes

    The water is flowing from one of the drainage tiles so it is not a matter of adjusting the pump itself

    The water discharges into a pipe underground which leads to a collection basin buried undergroud and about 10 feet away from the house

    house is 5 feet away from each neighbor. One neighbor is higher and one is lower and the water is flowing from the drainage tile on the side of the higher neighbor

    There are no leaks in the house.

    Yesterday we had some people dig around the collection basin and after the dig and removal of some mud in the basin. Immediately after this, the water slowed to a trickle and the pump was running every 15 minutes. After filling the hole back up the pump is now runnning again every couple of minutes. This leads me to beleive that the water from the basin is somehow getting back in around the house or there is some clog in the basin because water keeps getting pumped in but has no where to go except back into the drainage tiles around our house..

    Has anyone had any experiences with this type of setup for a sump pump and collection basin? I am thinking about rerouting my discharge to somewhere else instead.

    4 AnswersMaintenance & Repairs9 years ago
  • joint mortgage with parent?

    Currently I have a property that is underwater. I'd like to buy a bigger place and make a good income (200k) and have a significant downpayment of 100k. Id like to buy a place costing abotu 750k. Rather than to sell my place at a loss, I've decided to rent it out and have renters lined up already. However, in talking to several banks, they will not consider rental income unless you've been a landlord for a year and in some cases, many banks dont consider it at all since the place is underwater. If rental income is not considered, I am not able to qualify for the mortgage I need to buy my second house. However, I thought if i added my mom and did a joint mortgage, that would push me over the edge so that rental income would not need to be considered for me to qualify for the mortgage i want. My mom currently rents, has no debt, and only makes 45k a year but that is a lot more than what my rental income would be anyways. 2 questions:

    1)Do some lenders consider rental income right away if I have a signed lease already?

    2)Will adding my mom as a joint owner in the house make the consideration of the rental income irrelevant?

    Bottom line is I know I have rental income coming in and can afford the place. I just need to get over the the hump of qualifying for the mortgage I need. I also have an excellent credit score of 800.

    Thanks

    3 AnswersRenting & Real Estate9 years ago
  • Renting Apt After Bankruptcy- Cosign?

    My parents are going through a bankruptcy and a foreclosure of their home right now. My mom needs to rent an apartment to live in. They actually have income and can afford a place. I also make a very good income and have a very high credit score and own my own home.

    Question is - for her to rent an apartment, would it be better for her to apply on her own and I and my wife cosign for her or should I just rent the place and have her live there?

    Would the cosigning work in this case since her credit is obviously ruined?

    2 AnswersCredit1 decade ago
  • Business Transfer Legal Help!!?

    If my father wanted to transfer 90% ownership of his restaurant to me ( I am currently 5% owner already), are there any tax implications? How does he go about doing this to make it official? The restaurant is incorporated as an S corp.

    1 AnswerSmall Business1 decade ago
  • If I declare personal bankruptcy can i still keep business?

    I own a restaurant and it is a C corporation. If i have to declare personal bankruptcy because of credit card debt and i can't afford my home, what impact does that have on my business? will i get to keep it?

    5 AnswersPersonal Finance1 decade ago