Sunday, January 24, 2010

An oil refinery is located on the north bank of a straight river that is 1 km wide.?

A pipeline is to be constructed from the refinery to storage tanks located on the south bank of the river 3 km east of the refinery. The cost of laying pipe is $200,000 per km over land to a point P on the north bank and $400,000 per km under the river to the tanks. To minimize the cost of the pipeline, how far from the refinery should P be located? (Give your answer correct to two decimal places.)


w = width of river

you need to minimize function (3-a)*200000 + sqrt(a^2+w^2)*400000 in terms of a (take derivative, find zeroes and so on)

My rented home is being repossed off the landlord by the bank how does this effect me?

i rent a house and the bank is now reposing it off the land lord. i have had no electric in the upstairs for 10 weeks and now i know why he has yet to do the repairs as he is losing the house. But he still expects me to pay the rent!! But what am I to do now? do i have any rights to be rehoused?


In the US the only rights you have in regard to renting a home that is being reposes is the New Federal Law that gives you certain rights to occupy the rental for another 90 days or a full year depending on the facts

Any other legal issues like the remedy for the landlord breaching the lease agreement is a civil suit against the old owner and not the lender or the new owner taking possession after the official judicial foreclosure

Also getting back your security deposit is an issue you must bring up with the old owner the SD does not transfer in a foreclosure proceeding

You have a few options depending on what you want to do. If you want to stay there, file a complaint with the proper housing authority or small claims court over the electricity which may get you out of paying all the rent until he provides what you originally rented. You can check with the city attorney or a free legal clinic. You can also approach the bank that's repossessing or foreclosing on the property with a deal: you stay and put your rent toward getting the house fixed up. You have to work out the details then, and that includes whether you would hire someone or do it yourself. You probably won't be evicted by the bank because it needs the income as much as your landlord does. You might get better terms working with the bank though. As for rehousing, you're only renting, not leasing, so you're likely to be on your own.

If the house is being repossessed, the bank will probably be evicting you anyway. It is probably time for you to find a new place and move. When the eviction notice comes, it may require you to leave very quickly (in some jurisdictions, in as little as 1 week). If you don't have a new place already, you will be very hard-pressed to find a place and make the move in such short time. Certainly, don't pay more rent to the landlord if he is not paying the mortgage. Tell him that you can only pay him if he proves that THE BANK isn't going to kick you out in the next month.

But, this may also be an opportunity for you. I don't know what your finances are like, but if you like the house, you may want to talk to the bank about buying it. The bank doesn't want a house. They just want their money. Depending on the outstanding balance on the mortgage, you may be able to get a really good deal. If so, either hire a licensed realtor or a real estate attorney to help with the purchase. They will work for you, so you don't find out too late about liens, unpaid taxes, etc... that could cost you a fortune later.

Good luck!

Wednesday, January 20, 2010

What to look out for in land auctions?

I just saw an ad in my local paper about a land auction that is taking place a few counties away. I was wondering why someone would have a land auction? Is this a legitimate thing that a bank does, or is this something a little more sinister?


For the most part, land auctions are quite common and can happen for a lot of different reasons. Maybe the land is in foreclosure, or it is government owned and they are selling it for tax purposes, or it could be a farmer who is parceling off his huge amount of land and moving on now that he is out of the farming business. You will want to make sure that there are no liens on the property, but if you are dealing with a reputable broker, that work should have already been done for you since the brokerage firm has more than likely put up the money to secure the property beforehand. I highly recommend that you look at a property before ever bidding on it. This way you can get the lay of the land, see if any of it has flooding or water issues, and get an idea of what type of building is going to go on it. You will need to get financing prior to purchasing, but sometimes the brokerage firm holding the auction can secure financing for you through them. It is important to note that all sales are final regardless of the condition of the property. If you do your research first, like on www.recordssitereviews.com, you can check the history of the property, who has owned it, how long they owned it, if there has been any debt on the property, etc. This is a great site that will give you accurate information quickly. I highly recommend it if you are going to buy property from one of these auctions.

u did not volunteer WHO was holding the auction.

banks hold them

real estate agents hold them

cities and counties hold them

and individuals hold them

[zoning and size of lots]

Wednesday, January 13, 2010

Wednesday, January 6, 2010