Vivian Said:ATTN Mortgage brokers!!! Is any lender still doing 100% My Community or Flex products that you know of?We Answered:As of last week I know Chase was still doing Fannie Flex 100 loans, the pricing and rates were aweful, but they exist. I'm not sure about the 5% hit for the declining market, every lender I work with has the same thing. Good luck....
Paul Said:Are there any lenders out there which will lend 100% mortgages to people with bad credit score?We Answered:My friends Lefty and Sharky Rizzo will probably oblige. Go down to The Blind Beggar at 10:30 any night and tell them Mario NoName sent you....
BTW, do you have any limbs which are already broken? This may affect your credit score with us.....Darrell Said:best way to get a mortgage with no deposit...loan+mortgage the best way as theres no more 100% mortgages?We Answered:If you have loans, the mortgage company will take that value off your available credit, so you'll be no better...
Kelly Said:"Bankrate.com lists 15 year fixed mortgage rates for today 2/6 at 4.95%. Why can't I get that rate fromWe Answered:The 4.95% is the APY rate offered by larger banks to borrowers with near perfect credit. APY means the interest rate without figuring in all of their fees. With fees added in, your true rate, APR, may be closer to 5.3%. Some companies, such as Countrywide, claim to have no upfront costs, thus lowering your APR to near the APY.
Remember that the lower your credit score, the larger your risk and the higher your interest rate...
Vickie Said:Including credit card debt as part of mortgage loan - 1st time buyer?We Answered:Not the way most lenders know about. But there is a way to do such that will work. You have CC on your file and most lenders look at that almost the same as a BK. To qualify for a conforming loan the underwriters will need to see 1 year post CC program history so they know you have learned better credit habits. Your income will allow a non conforming lender to finance you including those payments as long as there are...
Marvin Said:just refinanced 1st and 2nd mortgage...Help?We Answered:Keep that deal. No guarantee you will be able to refinance 2nd mortgage. You will be hit with the PMI no matter what. The value of your home has plummetted. Keep the deal.Margie Said:Is this how a 10/1 30 year adjustable rate mortgage works?We Answered:I agree with the first answer
10/1 ARM would mean that the rate is fixed for the first 10 years, then it will adjust every 1 year after that. I've never heard of a 10/1 ARM though.
There are some loans called interest first loans. For example,...
Andy Said:i want to buy a foreclosure property forclosed on by a 2nd mortgage lender.If I become the highest bider what?We Answered:You become responsible for the payments on the first mortgage. The second mortgage holder foreclosed to protect their second lien position. Their payoff, in all probability, includes payments they have been making to the holder of the first mortgage holder to keep the first mortgage out of default.
In addition, you will want to check your state's statutes to determine whether any other lien holders have a right of redemption ( the second holder has, most likely, cleared...
Mike Said:I left my emotionally abusive husband a month ago. He has all of our mortgage tax information - how do I file?We Answered:If you file a separate return, you can claim mortgage interest you personally paid. This is shown on the table on page 5 of the following IRS Publication:
http://www.irs.gov/pub/irs-pdf/p504.pdf
If the IRS challenges your deduction, you would have to show that you personally paid the mortgage.
Since you owned and lived in the house, you could still take the business use of home, but you couldn't take a portion of the mortgage interest or real estate taxes since your...
Robert Said:How do I find out what are my rights relating to information obtained by a mortgage lender. Fico scores, etc?We Answered:Federal law now mandates that they tell you what your credit score is when determining your eligibility for a loan. So, they should tell you the score, however they do not have to give you a copy. You can get a free copy, from the only legal, government run website www.annualcreditreport.com
As for the appraisal, if you paid for it, you should get a copy, contact your lender and be insistent upon this or contact their manager. ...
Jack Said:Will all mortgage lenders need 2 years of work history?We Answered:You do not need pay stubs, your income tax return that you submitted to the IRS will suffice.Anne Said:How would I know which mortgage lenders allow bi-weekly payments?We Answered:Biweekly payments are just a gimmicky way to trick yourself into paying more than the average of the minimum payments every year.
And, a lot of lenders will charge you a fee to do this.
Since the mortgage amortization schedule is based on 12 payments per year, but there are 52 weeks in a year, if you send a half payment every two...
Karen Said:should i lock in my variable rate 2nd mortgage now to a fixed rate, or wait for interest rates to fall more?We Answered:I honestly don't see interest rates getting any lower.
Eventually they will start shooting up.
If you can get a 5% FIXED loan rate, I would do it now.
I read in Money Magazine that interest rates just on 1 year cd's could easily double by December.
Keep this in mind - and don't wait too long.
Remember, you will be paying penalties for paying off your old mortgage early.
It's not about what your monthly payment will be, its about what is...
Eileen Said:Why are 30 year fixed mortgage rates increasing so much over the past month?We Answered:I just asked the same question. I am so frustrated with my house still for sale here in jersey, watching the rate climb, yet the banks rates r dropping. Yeah, that'll help the economy!(at least my portion of it!)NOTJoel Said:Now that the 'Fed' lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-fixed mortgage rates?We Answered:Fixed mortgage rates are just that, fixed. So it will not change your rates. The only way to get around this would be to re-finance.Andre Said:How are...
Beatrice Said:The fed adjusts short term interest rates. What affects long term rates such as a 30 year fixed mortgage?We Answered:Yes the mortgage rates follow the 10 year bond. So you can go to yahoo finance and click on the ten year bond and you will be able to compare that to interest rates. We watch it for our loans in float waiting to lock them for our clients.Gregory Said:What affects the 30 year mortgage rate?We Answered:Anticipated inflation is the main thing that affects all long term rates. You should see a difference between US gov rates and other...
Christopher Said:Any mortgage lenders still doing 95% LTV FULL DOC with 570 credit scores?We Answered:It is almost impossible to get a sub prime loan during this period. Everyone is shutting down these loans.
The real people hurt are those that have had health issues and have to refinance to pay their bills. They can't get a 70% LTV with 570 scores nowadays.Casey Said:any HSMP visa holders got a good mortgage deal?We Answered:Hi,
Yes, you can get. Checkout http://mortgage.creditmortgagepro.com for some useful info and tips. Good luck!Rene Said:If I pay for my own appraisal can I present it to mortgage...
Danny Said:I am in desperate need of a loan to continue paying my mortgage and take my 9 year old daughter on holiday?We Answered:Dot make a bad situation worse!
Neither a borrower nor a lender be;
For loan oft loses both itself and friend and borrowing dulls the edge of husbandry.Lorraine Said:Isn't Fannie Mae in the process of creating ANOTHER subprime-esque crises?? (ask for additional $23B)?We Answered:Hey, let’s throw another $23 billion down the rat hole! The fraud-ridden money pit known as Fannie Mae needs more of your money.
Who among the Fannie-kissers in Congress will say no?
Say goodbye to another...
Joanne Said:Recession 2007 ???We Answered:Dang man! You make some really good points. It is scary. However with oil going down the tubes, technology and the development of alternative forms of energy come to mind. Most of our problems have come from money grubbing government and businesses all making the wrong decisions for the wrong reasons. JMHOMargie Said:State of the sub-prime market........?We Answered:Yes, that is exactly subprime market, and do not worry, they are not doing it anymore, learned their lesson....
Jeffrey Said:Is there any guarantor mortgages available for people with adverse credit history.?We Answered:http://www.remortgagesupermarket.co.uk/e…Jim Said:i have adverse credit, and have just got a mortgage. can i get a home loan to consolidate all my other debts?We Answered:If you have any equity in your house, then you can borrow money against that.Lauren Said:Where in the UK can I get 100% adverse credit mortgage?We Answered:there are many companies out there now who specialise in adverse credit mortgages. i would not feel negative about your credit history when looking for a mortgage. to be honest, many companies specialise with people who have poor...
Phillip Said:STOP paying YOUR MORTGAGE? - England.?We Answered:As a mortgage broker I have not heard of this and would like to point out that this would be extremely unwise. Not paying your mortgage will have a severe effect on your credit rating and your future ability to get a new mortgage or remortgage. Ultimately defaulting on your mortgage will result in repossession and your name will be entered onto the Council of Mortgage Lenders register of repossesions. Unlike the normal 6 year limit on credit records the register is for life and your name will never be removed.
A mortgage...
Clifford Said:Can i get a mortgage after i have been discharged from my bankruptcy?We Answered:There are mortgage companies who are willing to grant home loan approvals for those who filed for bankruptcy in the past. Tough competition among lending companies in the market drives these lenders to give special home loan packages for those who have been through bankruptcy. As long you have been discharged from your debts, you can go right ahead and submit that home loan application.
Lenders are not merely taking chances. After all, your home property will be used as a security for your loan so there's...
Courtney Said:Foreclosure on credit report after bankruptcy?We Answered:Perhaps your attorney misled you.
Although a borrower previously surrendered property during a bankruptcy case, a mortgage lender’s reporting of a foreclosure to a credit reporting agency is not a report of inaccurate information in violation of the Fair Credit Reporting Act (FCRA).
The lender’s argument was that it did not report any inaccurate information. The surrender of the property in bankruptcy did not transfer title to the property. The borrower argued that the reporting was inaccurate because the credit report affected him personally, even though the foreclosure only affected the property. ...
Douglas Said:What happens to a foreclosed home that has SERIOUS structural problems?We Answered:The bank most likely won't fix it. They will just try to get what they can for it.
All of this will take time and your next door eye sore will be around for a while.
If they can't sell it at all (needing $30k in repairs on a $100k place means they will be able to sell it eventually) they will stop paying property taxes on it and the city/county/town will possess it for back taxes and either auction it off or demolish it.
Foreclosure...
Francisco Said:Good lender that understands real estate investing.?We Answered:http://www.investmentpropertyguys.com/Te…
Call or email Rob Bonahoom - link above He's in MN but has awesome contacts all over the US - Trust me - this guy and his whole team are VERY good
I've worked with him before - you'll be impressed :) I'm in the "business" as a Realtor and working with good loan people is a must!Wesley Said:Arizona foreclosure questions?We Answered:Well, at this point, do they really have a choice? Live there til you get kicked out, but CA is different than AZ. They may be out...
Eric Said:Can I sell my home to my spouse?We Answered:Yeah you can but your wife will have to qualify for the home. Meaning the home will have to appraise for the sales price of the home. But if it can appraise for the sales price it sure as hell will appraise for a refinance. On an FHA you can go up to 97.25% LTV.
Anyway lets assume for some reason the home will appraise different for a purchase over a refinance. Your wife will need to have the 3% down minimum if you go FHA. There...
Donna Said:Do u have more debt than equity?We Answered:Nope, we bought a house UNDER what we were approved for, significantly, so if we sold our house this red hot second, we would break even, more or less. We do not struggle to pay our mortgage, though it is a big expense for us every month. As for the strict budget- we've always done that. in this time people are losing houses and selling personal items/taking out loans to stay afloat, we continue to live our meager lifestyle and sock away $ every month, for retirement, emergencies, a new car, and...
Norman Said:Assumable Mortgage?We Answered:Sure, you can advertise it that way - and could be a selling feature if it's got a good rate.
And you can ask more than the loan - the difference would have to be made up by the buyer either with down payment, another loan, or combination of the two.
Good luck.Sara Said:assumable loans on grandfather's house (passed away)?We Answered:Consult an attorney for legal rights and advice. Also if there is a Last Will and Testament, bring that to the attorney also.Shelly Said:question about non assumable mortgage?We Answered:Too late for you to remove your husband's name off the...
Jaime Said:Am I getting the best Mortgage Rate?We Answered:5% down on an investment property with a 6.75% rate is very good.
Most banks would require 10% or more down, and anything less pushes rates much higher.
Investment property rates are usually at least .5% higher than owner-occupied. With 5% down, it could easily be 1% or more higher.
Take the deal and run. It's good.Shawn Said:I need to sell my ugly home FAST! Can anyone help!?We Answered:me and my family just went threw this ourself. It needed repairs like painting and carpet, we went with a real estate place - there...
Robin Said:Most accurate Mortgage Rate daily report???We Answered:Sounds like what your lender is doing is a broker. He is buying a product from someone else and re-selling it. Its common and most mortgages are sold that way.
Bankrate is an average. However, if you go through the steps, they will also show you what products lenders are offering and at what rates.
Remember to look at fees/points and such when making your decision though. There is nothing wrong with shopping for a mortgage...Terry Said:What do you think about the companies that embrace illegal immigrants?We...
Zachary Said:I purchased new build in az 6/06 for $250, was told it was worth $350, now its only $200000 do I have recourseWe Answered:no. you have no recourse. unfortunately you are in a buyer beware type of situation. you are in the same boat as thousands of others in the country. at the time you bought, home prices were just beginning their cooling phase. the good news for you, is that it will be over soon. hang in there, give it time, and you will soon have equity in your home (it will probably...
Erica Said:Credit Check on Spouse Home Mortgage in TX?We Answered:I would not worry about it.
The lender may have your name but they do not have your social security number. They obviously cannot run your credit without it.
If they call and ask for it, tell the lender that you do not wish for your information to be included since you are currently not employed.
I would doubt that the lender can force the issue and why would they? they want to make the sale so it should NOT be an issue.
Dont call and make them take the stuff off...
Darrell Said:Looking for private investor to mortgage current home regardless of lousy credit have lots of equity?We Answered:As a former Realtor you are fully aware that the chances of you finding someone to bail you out of your dire straights are slim to none. You also know that there is really only one other alternative to save your equity ... you have to sell. And lastly, you also know that your credit will eventually recover enabling yourself to buy another house in the future. What confuses me most is why you are holding out hope and not...
Anita Said:Bad Credit Consolidation, I want to consolidate $50,000 student loan, $15,000 mortgage, $3000 medical bills?We Answered:Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a...
Clayton Said:Mortgage lenders that help people with damaged credit?We Answered:I sympathize with your situation. I made the mistake (or was basically forced into) a situation where my student loans went bad, because I could not afford 700 dollars a month, and I all 3 of my part time jobs within a month of each other, and my car died as well. Back then they didn't have to work with you on the loans, and they didn't.
Thankfully, after a few years I dug myself out, got my loans current, but my credit was very bad for years; as...
Glenn Said:poor credit need a mortgage lender ?We Answered:There are a few lenders that will do mortgage loans with large down payments. You should contact a local mortgage broker that does FHA loans this government backed agency is not as strict as most conventional lenders.
In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book.
Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA...
Guy Said:Does anyone know of a subprime lender who will give a mortgage to a person with bad credit?We Answered:Your location WILL make a difference, but I work with a national lender, with offices in several states. Try American Equity (www.americanequity.com) and see if there is a branch close to you. Remember, you are still going to have to qualify with income, LTV, etc., but they specialize in damaged credit and can help rapid rescore you if that's a possibility.
If that doesn't work, email me through here and let me know what state you are in. There...
Gene Said:Will asking my credit card companies to reduce my account limit help me get a better mortgage?We Answered:No. What will lower your credit score is accounts that are maxed out. So if you have a $5000 limit and a balance of $4800 it will lower your score. The reason is because you now have little credit to use on that account. However, having to many open accounts can affect your scores. Good luck on your mortgage hunting. Most lenders have stopped doing 100% loans unless they go thru fannie mae.Stacey Said:anyone managed to get a mortgage with bad credit?We...
Kristin Said:What is a good way to get a mortgage loan for a first time home buyer with bad credit?We Answered:There may be financing for you but a lot will depend on just how low your credit score is and how much money you have to put down.
Mortgage lending decisions are based upon "perceived risk". Most lenders use an automated underwriting system developed by either FNMA (Fannie Mae) or FHLMC (Freddie mac). These systems are score driven and make it difficult to get approval on a low down payment loan with low credit scores.
If your score is below...
Tamara Said:How bad is one negative point on your credit report when applying for a home loan?We Answered:Don't worry about it.
While the late will show for 7-years only the last 24-months worth of payment history actually shows on your report so while they will know that the account was 1 x 30 days late they will not know when the late was made.
The last 24-months of payment history is the most important.
Just make sure your brother in law doe's not mess up again and you should be fine....
Cory Said:Refinance my mortgage with bad credit...Help?We Answered:You might want to consider a roommate(s) for right now just to have some additional cash to pay the mortgage. I dont know how good your chances of refinancing at this point are with bad credit and a lot of banks shying away from doing any risky loans.
Talk to your local bank and see what advice they have for you. They might tell you to fix your credit so getting some roommates would help you pay off that 10k in debt. If you went overboard furnishing the house you might consider selling...
Marvin Said:Can i get a mortgage with bad credit and ccj history?We Answered:The way reputable mortgage companies are handling loans right now, I would doubt it. If your credit score is at least 700, then perhaps you could get a mortgage from a lender online. However, due to the recent mortgage crisis, many of the criteria that were used in the past few years to qualify borrowers, has been thrown out the window. Lenders got burned when many bad credit people walked away from their homes and wound up in foreclosure.
There is a new FHA Express mortgage available now and...
Gail Said:Names of bad credit mortgages please?We Answered:Have you tried to go to your local credit union or bank and ask for a mortgage?
You could qualfy for an FHA mortgage.
I think you only need a score of 680 and 3% down (may have recently gone up to 6%).
Check your reports for free at annualcreditreport.com
Make sure all info is correct.
Don't delete your oldest credit card - that establishes "lenth of credit history".
Get your score from Equifax.com for about 8 bucks.
Don't get trapped by signing up for services to monitor your reports.
Google "how much house can I afford".
Don't go for the max...
Jorge Said:With this recent mortgage bail out of lenders, are we rewarding bad behavior?We Answered:Basically; yes. As a country; we ALWAYS reward bad/stupid behavior. Every day people do foolish things with their money, run up creditcard debt and claim "bankruptcy" because they failed to live within their means and the only difference is that this round they ran up creditcard dent, paid it off by refinancing their house, and doing it again, and again, and again until the next" greater fool" failed to showup and bail them out of their overpriced house that has no equity because of...
Rick Said:Is it legal for banks/mortgage lenders to sell a foreclosure for more than what's owed?($19,000)We Answered:This depends on what stage of foreclosure the property is in! If the home is up for auction, they can sell it for however high people will bid. Of course, auction is different from a short sale, which would occur on the time line BEFORE the property got to auction. Once a bank forecloses on your property, they want to get it off their hands as quickly as they can, because it is a liability to them, but there is nothing...
Marjorie Said:Is it good for Republicans that Wells Fargo Bank is turning a profit, Mortgage Rates are falling, and the?We Answered:Actually it has been said over and over by leading economists, that we will see a slight turn around in the markets in spite of Obama's Policies, Not because of them...
When the "Other" Shoe Drops, it will be much worse then the first......
Cindy Said:Under what circumstances outside of a home owner's control (ie, lender bankruptcy) may a mortgage be called?We Answered:Due-on-Sale-Clause - A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home.
One trend in the mortgage industry has been the virtual disappearance of assumable mortgages. This is unfortunate for homebuyers, since an assumable mortgage allows them to retain a below-market interest rate and avoid many closing costs, such as a credit check and appraisal. Except for certain FHA and VA loans, almost...
Deborah Said:if you file bankruptcy, are mortgage lenders more or less likely to work with you for a modification?We Answered:I am a bankruptcy legal assistant and within the past year this issue has come up almost daily. We always tell clients to apply for a loan modification. At most mortgage companies, they require you to be at least 3 months behind on your mortgage. The majority of Chapter 13 clients are more than 3 months behind on their mortgage, so that is usually not an issue. They will send you an application where you will have to list your expenses,...
Chris Said:What's the best way for me to become a Mortgage Broker in CT?We Answered:You can try Countrywide, but honestly...your current position is the safer bet of the two. Mortgage Brokers and getting the short end of the stick lately and banks (like Wichovia) are no longer even dealing with them. It's not a good time to switch careers at all.Charlotte Said:How do I become a mortgage lender in multiple states?We Answered:Most states will approve you if you are approved in another state. I am approved in Illinois, but my license lets me originate in like 27 states....
Gertrude Said:New Home Mortgage-best place to shop?We Answered:Buying a house is a step by step process, this is the first step. Once this step is taken the others will fall in place for you.
In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book.
Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one.
He will fill out this application,...
Geraldine Said:Who is best to get a home mortgage through?We Answered:As of today's rates, depending on where you're buying and how much you're financing, 6.25% is dead-on for the 30 year fixed mortgages today. Assuming no more than 1% origination fee and other costs being reasonable.
I never discourage my clients from getting other offers. You should always talk to a couple places, I'd recommend 1-2 brokers, 1-2 banks, and try the credit union too. In my experience, credit unions have decent rates and low costs. Banks have higher rates and average costs. Brokers will come...
Steve Said:I want to get Housing Loan. Which Bank is best ? Can I get loan for vacant Land & subsequent house build loan?We Answered:yes it is possible with SBI and LICHFL.
for your salary structure you may get around Rs.13,00,000/- maximum.
don't opt MNC banks. approach nationalised banks or LIC HFLAlfredo Said:How good is Canara bank for a housing loan? Which is the best bank for housing loans?We Answered:Get easy loan.I think the below website helps you.Lucille Said:Which bank offers the best housing loan for a HDB flat in Singapore? Please include rate & details.?We Answered:Hi,
Check this website..
http://www.askdrmoney.com/Home_Loans--HDB.htm
Cheers..Carlos Said:How to identify...
Pamela Said:When purchasing an additional house, is it best to use the same mortgage lender or a different lender?We Answered:Irrelevant - go with whoever will give you the best deal.Teresa Said:When buying a home, what is the best lender to use for a mortgage?We Answered:I have two houses with mortgages, and here's what I learned:
Great banks = Wells Fargo Home Mortgage and Wachovia Mortgage. Great rates, minimal paperwork, intelligent banking staff.
Horrible banks = Bank of America and Ditech (legal name is GMAC). Rates are higher than everyone else, mountains of paperwork, and their banking staff are dumb as...
Lorraine Said:Is it common to get pre-approved from a bank and a mortgage broker and then shop for the best mortgage.?We Answered:keep in mind several things rates are climbing now! If you get pre-approved by one place chances are you will get approved with another! the pre-approval is basically for new home buyers (many Realtors wont work with a buyer that is not preapproved!)
As far as getting the best deal and shopping take you preapproval and find a home then shop for a mortgage. the fact is most brokers are fishing from the same pond and banks...
Terri Said:What is the best mortgage? which bank/ lender is most interesting a the moment?We Answered:i used supreme lending, LINDA SIVY, these people MADE a loan for me, i had a7.49 ARM that shot up to 10.49 at the end of the 2 yrs, linda and shari, her boss got me a 6.25 percent loan and not only that they explained everything to me in ways that made me feel like I HAD been doing this stuff for years!!!! and not only that they found a nice enough loan to pay off my 20 thous owed on my car at...
Amanda Said:Who is the best mortgage broker in dallas texas?We Answered:Impossible to answer. Best has many faces. If you are looking for a broker then shop at least three companies including one you have never heard of. Compare the Good Faith Estimates/Truth-In-Lending and do some additional homework. Look at the total closing costs paid by borrower and paid by seller. Look at the interest rate and the annual percentage rate (on the Truth In Lending statement).
Here's a good test: call the mortgage brokers, ask for an interest rate. The first one who says something like, "There is no way I...
Marcia Said:Who is the best mortgage broker in Portland OR?We Answered:me...lol.. You can check out my profile on LinkedIn. Actually, I'm here if you need the help. Best of luck either way.Mark Said:best mortgage broker for a rental investment?We Answered:You can try a diect lender like COuntrywide or Bank of America. It ownt be that hard to find a loan that will work for you as long as you can show income.Amanda Said:Where is the best place to advertise in the gay community for Mortgage Brokers.?We Answered:Publications aimed at people interested in the theater, hair salons, restaurant workers, interior design,...
Leon Said:fixed mortgage calculator for finance assignment in uni???We Answered:hey i found this one for you, hope this is want you wanted.
link for calculator: http://www.mortgagecalculator.org/
and heres another: http://www.bankrate.com/brm/mortgage-cal…
link for general info. on mortgages: http://en.wikipedia.org/wiki/Mortgage_lo…
i think what you need to do here is basically say what you think would be the best option for them and justify it. e.g it would be better if they buy the house through a mortgage because if they are thinking of buying the house cash they need at least 4 yearns saving of their whole salary. onviously this is imposible as they...
Kenneth Said:What is the best site for mortgage calculators?We Answered:I use this one it has about 20 of them.Howard Said:WEBSITE FOR THE BEST MORTGAGES?We Answered:Contact your mortgage broker as they will shop mortgage rates for you. If you go on a website, they are giving average interest rates & may not be applicable in your state. Call a local broker!Javier Said:What is the best way to estimate a mortgage payment?We Answered:A lot of mortgage calculators could have assumptions in the fine print - which is why the two estimates are off. I doubt the mortgage company is trying to...
Adrian Said:Who are the top 100 best mortgage companies?We Answered:i have a mortgage with HSBC. personally all is bad. after your money...
here is a list bancks offering mortgages.Stacy Said:What's the best mortgage company for someone with a largew downpayment and great credit score?We Answered:cut to the chase --shop around the local banks in your backyard and i would advise you to ask them to figure both a 15 and 30 note -- payment might be a little higher but you will be out of debt 180 payments quicker!!!Arnold Said:What is the range of income as an appointment setter for mortgage...
Kimberly Said:Any advice on what's the best mortgage company to go with?We Answered:I hate to approach this question so shamelessly, but I believe you should work with my bank! ;-)
It's really more about the individual loan officer than the bank. In today's lending environment, banks, lenders, brokers, etc. essentially have the same products to offer with similar pricing. It's really up to the loan officer to set the pricing structure (rates & fees). Personally, I like to see what seller concessions can be worked into the purchase contract, so we can use that money to get you...
Dustin Said:Best mortgage deals without paying penalty?We Answered:Your loan has a prepayment penalty? That means that you have a very low interest rate to begin with or some kind of subprime loan, due to regs on prepayment penalties.
When you do a refi, you can have that prepayment penalty "rolled into" the new loan. However doing so increases your indebtedness, and increases the amount of interest you pay over the life of your loan..Melinda Said:Which are the best mortgage deals in the UK?We Answered:Perhaps you need to consult an Independent Financial Adviser or Mortgage Consultant. They will help...
Jason Said:What is the best mortgage lender in Arizona.?We Answered:I believe HomeBanc does business in all 50 states, and you can apply on line.
Consider this....
HomeBanc Mortgage Corporation, an Atlanta-based firm that traces its ancestry to a bank chartered in 1929. In the early 1990s HomeBanc was a small company with about 150 employees, only one office outside Georgia, and mortgage volume of about $500 million. By early 2005 the company had grown to some 1,200 employees, twenty-two branches in Georgia, Florida, and North Carolina, and more than $6 billion in mortgage volume. CEO Pat Flood's loyalty-based strategy depends heavily on...
Antonio Said:What are the top best Mortgage Lenders in Calfifornia?We Answered:I have used Washington mutual and Indymac bank for my loans. Wamu.com is washington mutuals site.Derek Said:best home mortgage lenders?We Answered:I would personally shop around and get rates, you will have 14 days from your first inquiry to get as many companies as you can look at your credit for lending purposes and they will all count as one look. So it will not hurt your credit score.
Go with whomever gives you the best rate, since they tend to sell them to other lenders anyway. I would...
Julio Said:What's the best strategy for a first-time homeowner in getting the best mortgage rate?We Answered:I would get in touch with a mortgage broker. They search different lenders in order to find the best program that suits your needs and work in your best interest. You will most likely pay closing costs but that's to be expected. Nothing is free and you get what you pay for....
Lucy Said:searching for best mortgage rates?We Answered:You should never just give personal information on the first conversation! Get a copy of your credit report ahead of time and tell them your scores. This way you can feel them out if someone makes you uncomfortable or is pushy move on!
The best approach is to talk to a few tell them your scores how much you want to put down etc. They should easily be able to give you an idea of what you qualify for and what to expect.
you should not have to pay for an appliction but...
Dean Said:What's the best online site to lower my Mortgage interest?We Answered:Don't get scammed.
The feds set up a site called HOPENOW.com
To prevent foreclousures.
They can call your mortgage lender and negotiate with them to prevent foreclosure.
The HOPE NOW Alliance includes a number of counseling organizations, which consists of all HUD intermediaries that
have offices across the United States. The organizations play
a key role in the success of HOPE NOW, providing borrowers
in-depth debt management, credit counseling and overall foreclosure counseling
https://www.hopenow.com/
If anything - they will prevent you from being scammed by one of these restructuring companies.
The gvt is doing everything...
Claudia Said:What is the best sites to go to find a specific properties history (owners, prices sold for, mortgages etc..)?We Answered:A Realtor can get this information for you. If you are in southern california, send me an email through my website and I'll do what I can.Maxine Said:Is it better to go through a mortgage broker, or these mortgage web sites, or a bank?We Answered:Definetly a morgage website because there is less or no commission fee....
Wesley Said:Looking for UK Mortgage and Loan quotes?We Answered:That looks like advertising/spam, not a question.
In fact, all your other "questions" also appear to be spam.
Thanks for the two points, by the way. And no, I'm not clicking on your link.Jonathan Said:What is the best value mortgage to get in the UK?We Answered:Think a repayment type is best
I usually choose a tracker
it has variable interest rate that is fixed 1 or 2 percentage points above bank of england base rateKen Said:What company is the best to re-mortgage through? UK only please?We Answered:bank of england!!!...
Mattie Said:What is the best way to get a good mortgage rate in California?We Answered:I like that your asking about a good mortgage... not the BEST. There is no BEST out there. If your friend likes the rate (more importantly the payment) then he should be ok.
Find a loan officer you like and can trust. When you get the good faith estimate keep in mind that the items from the loan officer are going to be:
Origination, Mortgage Broker Fee, Processing, Credit Report and if they are sneaky an application fee.
Most of the items the loan officer discloses to you...
Ernest Said:What American financial company gives the best rates and services on mortgages to foreign nationals?We Answered:Uh none of them should be treating you any different if you are a foreign national. I think that would be a discrimination/ equal opportunity thing if they did.Claire Said:what are the best rates out there for Mortgages? what companies are the best?We Answered:HI the best thing for u to do is to "shop around".
Go to local banks, credit agencies etc and check out there rates.
Once you get a few rate, check what are the features of the loans and which one is...
Bob Said:Best Mortgage Company in UK for house?We Answered:I've heard good things about National Westminster (NatWest) Mortgage (which is part of Royal Bank of Scotland now I believe).
Good luck!Harold Said:Where is the best UK mortgage advice/tutorials online?We Answered:moneysavingexpert.com - Is a fantastic site for any advice on finanical based questions!Cheryl Said:Mortgages in the UK. What is the best kind to get?We Answered:get a repayment ....thats the only kind to go for unless u a financial wizzkid
also try lookin into this new goverment housing scheme they look reasonable where u only buy half your house ..
i feel ya...
Marjorie Said:How to know if I am getting a good/low interest rate for a home mortgage ?We Answered:There are two documents that are important to have when getting your mortgage loan.
One is the Good Faith Estimate (GFE) this document tell you the cost of the mortgage loan and an itemize list of each cost.
The other is called a Truth In Lending (TIL) this document will tell you the over all cost of the loan with the interest rate as well as the APR which tells you the cost of the mortgage loan that you will have to pay to include...
Marjorie Said:What is the best way to shop Mortgage Rates with Multiple Lenders?We Answered:Lending Tree...
Dan Said:bad credit lender remortgage?We Answered:Say it's for home improvements. They usually don't check unless it is for a huge thing like an extension or granny flat, etc.Rene Said:How can i find best remortgage broker in the uk?We Answered:try http://www.centralmortgages.com - this company heped me to find good remortgage dealHector Said:UK Mortgage Situation Question??We Answered:The trend appears to be downward due to affordability.
Now people appear to be borrowing 5 x their income and its the norm.
I think its going to go down but only borrow what you need and make sure that your look up what the application fee is...
Matthew Said:Is it better to pay down debt or save for bigger down payment for home mortgage?We Answered:Lenders will look at your debt to income ratio, and they will not like an outstanding debt. So clear the debt.
Put off buying a house until you are debt free and have at leat 20% saved for a house deposit. If you can't do that, you can't really afford a house. A house is a huge expense and not something to be entered on a whim.
You will need at least 20% deposit so that you don't pay mortgage insurance, which...
Janice Said:Should I use a mortgage broker to find me the best FHA lender?We Answered:screw these online companies I have worked for 3 major lenders and 1 broker by far brokers can get you the best deals find someone who knows what they are doing and they can for sure give you the best rate and closing cost. Some brokers are not fha approved but the good ones are. Even as a employee of a major lender I still went through a broker but did my loan through my company through the broker(if that makes sense) becuase the broker gets...
Raymond Said:Whats the chances my mortgage lender will give me permission to let?We Answered:Best approach is to be open, honest and upfront. Like you have been here. It's no good trying to hide any information - the decision will be purely a financial one, irrespective of circumstances. Just get there early, relax (but be confident) and rely on your exemplary 6 year history....
Vicki Said:Letting a house without buy to let mortgage?We Answered:They will probably issue a default notice on the mortgage and add penalty interest.
Also your insurance will probably be invalid.Alicia Said:Can a person obtain a buy to let mortgage being unemployed?We Answered:No. You need proof of income to apply for and get a buy to let (or any) mortgage.Colleen Said:Can a buy-to-let mortgage lender evict a tenant BEFORE the property is repossessed from the Landlord.?We Answered:I am not sure I understand your question, but normally repossession cannot occur before default on the loan, and the tenant cannot be evicted by anyone...
Dwight Said:Are lenders required to send advance notification in CA when the interest rate will adjust in a mortgage?We Answered:no not at all it is nation wide ruleAnn Said:Is the listing of a CA house for sale a defense to invocation of an acceleration clause by a mortgage lender?We Answered:No. You should work with the lender to sort out the issue they used to invoke the acceleration clause.Sally Said:Is it illegal for a mortgage lender in CA to tell me to miss or stop paying before they'll talk short sale?We Answered:One, it's not illegal for them to quote you policy.
I...
Howard Said:How do I find a "hard money lender" in Southern California? HARD MONEY LENDER is NOT a regular lender asWe Answered:I used to be a commercial hard money lender. Believe it or not a lot of my customers came to me because I posted ads on Craigslist. In fact my old company you might be able to find on there. VIP Lending.Gertrude Said:Can anyone refer to me a extremely good home inspector/real estate lawyer/mortgage lender...?We Answered:let lenders come to you http://www.lenderscompete.net or http://www.mortgagetuneup.netTom Said:What happens after ur home forecloses in California? Does the lender garnish wages to recover the...
Bradley Said:Does a consumer have a legal right to request this from mortgage lender?We Answered:My bottom line advice is to do whatever is necessary to stop dealing with Bank of America~ I closed my accounts about 3 years ago & my parents (the reason I had to answer this question) actually closed their accounts today after being pre-approved for a loan to build a house, the house is built now, they're ready to close next week and Bank of America denied them this morning~ the bigger issue is that they actually have enough money in Bank of America to pay...
Ida Said:I need a mortgage lender in so california,but have unusual circumstances, help.?We Answered:Let me ask you this, would you give anybody any loan if they come to you saying I make an X amount of money but I can't prove it and I have not filed returns for the past 5 years
Sorry, you are late to the table with stated income, you can't prove it, no one is going to lend you a mortgage loan today.Scott Said:how do I get a list of mortgage lenders for a geographical area. ie; Orange County California?We Answered:http://www.erate.com/orange_county_mortg…Jennie Said:I live in central California....
Melanie Said:Can the leaseholder refuse me permission for sub letting my flat? (i am the property owner)?We Answered:I think you are mixing up your terminology.
I'm going to assume that your landlord is the freeholder (the ultimate owner of the building). They are probably the management company - but might not be as the landlord could sub-contract the management company to do this job.
Each flat will be a separate leasehold property. The owner of the flat is then called a "leaseholder" or "tenant". So you are the leaseholder. I am also going to assume that you have a long lease -...
Gertrude Said:Can I get a mortgage in Canada if I live in the UK?We Answered:I am not sure about Canada but I am an ex pat living in the US. You can get a mortgage here without declaring your income and without proof of social security number etc. It is not uncommon at all. It will cost you 1-2% more and there may be other conditions attatched such as 2-% deposit.Beverly Said:Mortgage comming up for renewal?We Answered:Contact a Mortgage Broker to shop for the best rates.
Don't get the insurance through the bank. Its a decreasing face amount as your...
Lewis Said:Can I change lender after getting mortgage commitment letter?We Answered:You would start the entire process over again with a new lender, new expenses etc.
Read any and all contracts you have signed to this point. IF you are going solo on this without an Agent or Atty then get one given you needed to ask this question.Jenny Said:can you change mortgage lender if you are unemployed?We Answered:Most lenders will not take the unemployed on as a new mortgage customer. It's a shame, as it means the unemployed end up getting ripped off, with the less competitive...
Perry Said:Can a declining market designation affect your mortgage interest rate?We Answered:You are correct it does affect the loan to value ratio which in turn affects the rate. A loan at 95% of the appraised value is a higher risk then a loan at 90% so it warrants a higher rate.Dwayne Said:Is it a good idea to deal with an "Out of state" mortgage lender?We Answered:Unless you use a little local lender or bank, they're probably going to be "out of state" in some respect. I work for a very big lender, and we do loans all over the...
Claudia Said:choosing a mortgage lender...?We Answered:The guy they referred you to, probably is a mortgage broker. I dont think Prudential loans there own money. So what this means, the person they are working with will take your details, call 5-10 different banks and place it with the best one. What you want to watch out for is a guy who became very comfortable with one lender and no longer shops around on your behalf. Make sure the GFE makes sense, and keep in mind if they come in a little high, you may still want to use them, because they...
Pamela Said:Money, Banking and Financial Markets question related to the recent economic disaster?We Answered:Banks created money out of thin air (fractional reserve banking) and loaned this easy money to individuals (fooled by the low interest rates set by the Fed) causing a housing boom as people rushed to invest in housing.
Mortgage bankers also created securities and derivatives, to insure these mortgages against loss, and to allow investment bankers to gamble on their value (with cheap easy credit from the Fed). For example, here is a simple explanation of what went wrong with "collateralized debt obligations" - CDO
http://www.zerohedge.com/article/bank-cd…
Ratings agencies rated these...
Carole Said:does anyone know of a lender who wouldnt require half down for a commercial mortgage loan?We Answered:If you are in Alberta Canada I can find you financing, you can contact me @ http://albertamortgageguy.comSheila Said:Mortgage/commercial loan question?We Answered:Let's start with the first question first. It is POSSIBLE to get one loan to cover multiple properties for purchase. I honestly believe that there is a lender for everything these days. Now, as to whether or not it would have to be a commercial loan, that depends on the property. How many units is each property? If it is more than 4...
Jeff Said:What´s the best site for applying for a commercial mortgage loan?We Answered:Speak with a commercial real estate agent who will be able to suggest some lenders to accommodate you. Commercial loans are not easy and many commercial lenders will only consider one million plus so the smaller loans are more likely to be found in the local market.
We financed a warehouse for under $100k through a local bank and that lead came through a commercial real estate broker.Veronica Said:Are there REPUTABLE LENDERS who will refinance our mortgage via the internet?We Answered:In my professional opinion, no one in the US...
Steve Said:is it best to do a deed in leiu of foreclosure with the lenders on a preforeclosure mortgage ?We Answered:That is one measure. Another thing to try and is go for a short sale. List the property with a real estate agent and sell it. You of course don't get anything and all the sales proceeds go to the lender less costs (closing costs and agents fees)...........worth discussing with the bankKarl Said:I would like to set up a Bed and Breakfast and would like advise on my finance options?We Answered:No, if yo'ure running it as a business you'll have...
Esther Said:Is my mortgage lender stalling me?We Answered:It was not your place to contact the appraiser. It was wrong of the appraiser to even talk to you. This may be where the problem lies. With the housing market the way it is today I am not sure why you would want to pay above appraised value. I would be surprised if they order a new appraisal.Perry Said:negotiating with mortage lender?We Answered:Most all transactions are negotiable in the mortgage business. You have to be smart and do your home work to make sure you can intelligently negotiate...
Christian Said:Is credit pull by multiple lenders within a 30 day period reported as one pull on credit report?We Answered:All inquiries will show on your credit report. Multiple inquiries from different mortgage or car lenders will only be considered as one in your score calculation. This takes into consideration that people shop for finacing for these large purchases and are not really looking for multiple mortgages or car loans.
However, it is a different tale with credit cards and any other type of loan. Since you could very well get multiple credit cards or other loans.
In the schedule...
Mabel Said:In general (not at the moment!) why are mortgage interest rates so low?We Answered:A mortgage is supposedly a secured debt. The bank can theoretically get their money back even if the borrower fails to pay their debt. Credit cards are unsecured debt and banks frequently get stuck holding the bag. So they charge much more. Clearly there's a big penalty for not keeping up one's payments. Mathew Said:what are 2 advantages and disadvantages of option A mortgage compare to option B mortgage?We Answered:google mortgage ammortization schedule
Start your answer with an example like a $200,000 house.
You...
Alma Said:karen tumulty should be nominated for the best jounalism 2008?We Answered:I have watched her on some of the political talk shows like CNN.
She is, as you would expect, intelligent and bright, but I didn't find her particularly illuminating. Her topic on the selection of a vice presidential nominee does not reflect anything new.
In this age of 24 hour cable television and the Internet, one would have imagined a new take on the process - she did not offer one.
Sorry, as I can see that you especially enjoyed reading her article.Larry Said:Condo mortgages?We Answered:There are many lenders who...
Julian Said:re: mortgage lending- What is the difference between a mortgage broker, correspondent lender , and bank.?We Answered:The lender is the one who provides the money to the borrower at the closing table. In exchange, the lender receives a note evidencing the borrower's debt and obligation to repay, plus a lien on the subject property.
Mortgage brokers do not lend. They are independent contractors who offer the loan products of multiple lenders, called wholesalers.
A broker finds potential customers and counsels them on the loans available from different lenders. They also counsel on any problems involved in qualifying for a...
Emma Said:How much does it cost to build a dream home?We Answered:To build a dream home, the financial cost is zero. Zip. Nothing but some invaluable time to dream.
The dream home is the only home that has no defects, no mortgage, no insurnace cost, no taxes, no lot cost, no monthly utility cost, no heating, ventilation, air conditioning cost.
The dream home is adaptable globally to any location, any person, any financial group, any society, any family size, multiple family units, single family units, rich, poor, talented, skill inhibited.
The dream home is not limited to lot size, lot configuration,...
Daryl Said:Which mortgage insurance should I get?We Answered:Mortgage insurance pays off your mortgage, if you die. I think you're REALLY talking about homeowners coverage.
And, it should really be specifically tailored to YOUR needs. I don't know if you have a fur coat you need to insure. I don't know if you have a business in your home. I don't know if you're in a flood plain. You really need to sit down with a local agent, and talk to them about what coverages you need, and what's the most cost effective way to...
Francis Said:how much does your rent or mortgage cost you every month and what type of home do you live in.?We Answered:TX. 1816 sq ft. 3 bed 2 bath 1 story cul-de-sac home. $1275 a month, but that includes mortgage, tax, insurance.Leo Said:What is a typical income requirement for a mortgage? 4x? Also, no initial cost mortgages, worth it?We Answered:Banks you GROSS income per month.
They use ratios. They will do up to 32-36% of gross income for a total mortgage payment (principle, interest, taxes, insurance and PMI (if less then 20% down).
HOWEVER!!!!!! I would recommend never to go...
Monica Said:Who and where i can find the lowest closing costs on refinancing a mortgage?We Answered:Look up Atlantic Bancorp of CA..or Atlantic Bancorp of America..they may have changed their name. But I've been closing deals with them for 3 years. They're pretty great. You can look at www.atlanticloan.comKyle Said:What are closing costs on mortgage question..?We Answered:Some of the costs include things like title searches, fees to record a deed, appraisal fees, credit check expenses, homeowner's insurance and mortgage insurance. Other fees are also included, such as a loan application fee.
There are many closing costs involved in real estate purchases,...
Kristen Said:i am so upset but ill try agian next year.?We Answered:you won't get anything from the government. you should visit the bank. i don't know if you have debts or bad credit history but either way use this year to pay everything or do it as quick as you can. you may end up paying a little extra on your mortgage but you can get good deals out there.
you could look into part owning somewhere too just to get you started. I think you start with 25% of the house then can buy 10% every 2 years. this...
Charlene Said:My mother is looking into buying her council property but will need me to be a guarentor for the mortgage.?We Answered:Going as guarantor doesn't mean you cover the cost of the mortgage, it just means, if she defaults, the lenders can look to you for the money.
Be warned, if she does default, that will reflect on your credit score.
You may want to set up a system where you set up a standing order for the mortgage payments out of your account, and let her pay you the mortgage payment, so that if she's late, the payment is covered and...
Harry Said:Why do we need the federal reserve? Aren't they bad for the economy?We Answered:wait till McCain sells off and privatizes our social security.
vote Obama/Biden "08"Timothy Said:want to purchase neighbours' repossessed house in UK before it goes to auction!?We Answered:Neighbors do not get the first right of refusal.Jane Said:What can I do if my house gets repossessed?We Answered:DON'T GIVE UP YOUR HOME WITHOUT A FIGHT ..
1) You should be getting housing benefits (and maybe a lot of other benefits) .. see link, go ask the Job Center people (or look up your Council on-line) they will provide you with the...
Anita Said:What is the current VA home mortgage rate?We Answered:VA interest rates are set every Friday. So, for 10/27/08, the rate quoted was 6.5% w/0 points for 30 yr fixed with APR of 6.618%. You can check out:
http://www.valoans.com/ ...
Ricardo Said:What is the current mortgage interest rate in Canada?We Answered:Fixed rates - 5 year - 5.89%
Variable - Prime minus - .06% - 5.15%Lewis Said:what is the current mortgage interest rate, I am coming out of a fixed rate and not sure what to do now?We Answered:I'm in same predicament!! I'm coming off a fixed rate in February and I'm scratching my head a little bit!!
Theres talk of a interest rate cut within the next month or so, which is great for me but maybe not great for you!!!
Personally, I believe that interest rates are still low if you look...
Henry Said:anyone have an eye on current mortgage rate trends?We Answered:6% is pretty good. You could get the lowest rate by putting some more money into it, but trying to get it down another 1/8 of point is not worth the effort.
Rates are going to stay the same for the next 6 months (move up or down a 1/8 point.) since the Federal Reserve has indicated that they are not going to change interest rates soon unless it gets data that differs from their expectations. Go ahead and lock it in.
To see the difference, I suggest you go...
Loretta Said:Is there a good web site that shows me how the most current mortgage interest rates are?We Answered:www.zillow.com gives you average rates as reported by lenders nationwide. I found it to be an excellent indicator of what rate you can get and when.
Click on the "Mortgages" tab at the top, followed by the "Mortgage Rates & Charts" tab on the right. Trends for 30- and 15-yr fixed, and 5/1 ARM are tracked by latest day, week, month and three-month. Latest day rates are updated hourly. Be sure to click the "quote volume" checkbox, as the...
Marie Said:Can anyone recommend a good mortgage lender in Dallas?We Answered:My mother, Sherri Stone, is a mortgage broker in Dallas. She's a great business woman, totally dedicated to her job! Her email is stonesherri@att.net
Good luck!Bob Said:Can anyone recommend a good mortgage lender in Dallas, TX?We Answered:Merrill Berman with Prime Lending helped me last year. He is very trust worthy and very informative. I ahev recommended him to friends that are also using his services....
Stephen Said:Would you like to see accountibility in Washington DC, Obama promised it but we're yet to see it?We Answered:Emanuel is untouchable as long as he is in the administration.
And whatever he is found guilty of between now and then will be pardoned.Marc Said:Subprime mortgage rate freeze plan: what kind of rates are we talking about?We Answered:So far Treasury secratary Paulson hasn't worked out the rate scale yet to deal with this. But many question it.Colleen Said:Looking for a local mortgage lender MD/DC only!?We Answered:http://1stmdloans.com
PG County MD
Prime / Sub primeDana Said:Politicians in Washington to prevent current economic crisis ?We Answered:It...
Jamie Said:what is the difference between mortgage from a bank and from a direct lender?We Answered:Not much really except when you get a mortgage from a bank you pay the insurance and everything through the bank, so you have one payment. When you use a direct lender you pay the taxes, insurance and mortgage separately. So you will have to set up a escrow account for the taxes and insurance....
Stacey Said:Are you looking to refinance or need financing for a new home purchase? Are you working with a direct lender?We Answered:Not the place to drum up business. Go out and do it like the rest of us.Doris Said:Mortgage loans........?We Answered:What you did is totally against the law. Who was your mortgage guy? Chop shops like this are horrible for our industry and consumers at long. He should have his license revoked for approving that loan, and if he encouraged it then he should be fined and placed in prison. Your deal artificially raised prices for all of your neighbors...
Lucy Said:I have just taken out a loan, will this affect whether a lender will give me a mortgage?We Answered:The bank will certainly take into account the fact that you are already paying off a loan, just as they will want to know your other fixed payments each month. The amount they will lend you will depend on how much you earn minus how much you are already comitted to pay each month.Maurice Said:Credit Score and Mortgage Situation..?We Answered:freecreditreport.deep-ice.com - try this service to boost you credit score before getting loan. After credit repair you can get the loan with...
Melinda Said:Have anyone heard of RMC Vanguard mortgage company? Are they a broker or direct lender?We Answered:That is a difficult question to answer. Some lenders act in the role of mortgage banker broker, because they have a line of credit that allow them to approve their own loans and fund them, therefore in this situation they are in fact the direct lender.
When they chose they can also act as a broker and farm the mortgage loan out to a source to do the approval and funding of the mortgage loan.
You would have to ask them what capacity they are...
Maria Said:Can I use equity built in an owner finance situation towards a down payment for mortgage?We Answered:It depends on how the contract is worded.
In some cases this can actually be treated as a refinance instead of a purchase which will allow you to utilize the existing equity for qualifying purposes.Sara Said:does anyone know anywhere which does shared equity mortgages?We Answered:Ipswitch Building Society offer a good deal on a minimum 40%. They go as low as a 5% deposit depending on where you live.Vanessa Said:Why do you need equity in your home to refinance your mortgage?We Answered:Since mortgage companies have...
Marian Said:Is there mortgage relief help for homeowners with fha loans?We Answered:I AM IN NEED OF MORTG HELP. I PAID $800.OO TO COMPANY CALL MORTGAGE HELP SERVICE, TODAY THE GOV CLOSE THE COMPANY DOWN,FOR THE SCAM.THEY TOLD ME THAT THE COMPANY COULD HAVE MY MORTGAGE ADJUSTED OR LOWERD THE MONTHLY PAYMENT.Holly Said:Which is better? Conventional Mortgage, FHA Loan Or a VA Home Loan?We Answered:Before you consider going to a broker, research rates from your credit union, the VA and banks. As a customer, you stand a better chance of getting a good rate. A conventional loan is ALWAYS better...
Nicole Said:What's the best mortgage interest rate I can get in Northern Virginia at this time?We Answered:Lets see for Northern Virginia you're looking at 4.375% today no points. Any of your local companies should be able to help you.Alberto Said:When can my husband and I get a home mortgage?We Answered:You will be able to qualify for an FHA loan 3 years from your BK discharge date & your scores must be above 580. If you are renting currently, make sure that you are paying by check & also make sure that there are no late payments on your credit report...
Allen Said:FHA 203K mortgage with a Homesteps Foreclosure home?We Answered:So your realtor thinks they are a mortgage professional? 203 K loans require a contractor amd bids in the file. There is no do it yourself type of 203K loans. The easiest is a streamline 203 K where the rehab is less than $25.000 but either you or the contractor must put up the materials cost and then have that work inspected before funds will be disbursed. If the rehab is over that amount then there are draws at certain intervals for the repairs.
Realtors should only sell homes and not...
Cassandra Said:Can a conventional home mortgage loan be refinanced using FHA?We Answered:yes you can but the correct answer is...you can financing a FHA mortgage, but ONLY up to 95% loan to value for refi's cashouts, and it depends on the COUNTY limits...not the state limits. They have county limits....not state limits.
Streamline FHA refinance is for those who dont plan on taking money out, but those who just want a lower rate.Myrtle Said:I have a home equity loan I want to ditch. Can I use an FHA loan to refinance both my mortgages?We Answered:Great question! You're on the right track, too!
Since...
Bobbie Said:what is a fha housing loan?We Answered:Check out these sites for info:
http://www.nahb.org/generic.aspx?generic…
http://www.hud.gov/buying/index.cfmDoris Said:Can I get FHA loan if house does not have appliances?We Answered:A FHA mortgage loan is not predicate on the fact that the place you are buying has appliances in them or not. This is not a FHA requirement.
If for some reason the current owner would like to throw in the appliances such as a stove, refrigerator, washer and dryer either one or a combination would not have an effect on the sale price. Some home owners would leave them for] ]various reason or might attempt to...
Rita Said:What is the difference between Conventional Financing AND Federal Housing Administration (FHA) Loans?We Answered:I'm not a lender, but a REALTOR. I believe we will be seeing modifications in all the loan programs soon. But as far as I know:
FHA requires owner occupancy, the required amount of 3 - 3.5% buyer participation (part required to be used as Down Payment, and part can be used for closing costs), allows for "gifts" for help with expenses in buying. Property must appraise for the sales price. Increased maximum loan amounts in place thru 12/31/08 vary according to the average...
Sean Said:Attention any mortgage brokers/bankers ! I have been approved for an FHA mortgage...?We Answered:You have a few more days, until Oct 1.John Said:Is an FHA loan cheaper with mortgage broker or credit union?We Answered:Keep in mind that a broker is a middle man & you will pay extra (broker fees) for his help. Go to a mortgage banker instead of a mortgage broker.Colleen Said:How do I find a reputable FHA mortgage broker in Houston, TX?We Answered:Well there is nothing wrong with a broker. I mean ironic they suggested Bank of america which just bought the company that supported...
Joyce Said:If your approved for a FHA loan and your mortgage lender is using the Genesis program is there any more help?We Answered:FHA is not theonly way to go. what is your reason for going FHA?
maybe you should shop your mortgage broker. I'm sure you shopped for your home. your mortgage will end up costing you 10 times more than your home over the next 30 years.
Good luck and congrats on your new home!Stacy Said:Do FHA mortgage loans interest rates vary by lender or are they the same across the board in your area?We Answered:Yes it can vary. ...
Alfredo Said:What are some current really good FHA mortgage lenders. Im in the state of Tennessee.?We Answered:Quicken Loans is one of the largest FHA lenders in the U.S. Their rates are among the lowest and if you don't have any credit problems they are who I would recommend. If you are outside the box, like self employed, can't show income, marginal credit. or where you down payment came from then it might be better to go through a mortgage broker that specializes in problem loans. They cost more, but they do a lot more work.Marsha Said:FHA...
Gary Said:Will our current mortgage lender automatically finance us for another home purchase?We Answered:No, the rate will be based on the rates at the time of the finance, not at a former rate.Jennifer Said:Is there a lender that will provide mortgage finance for a trust (rather than for an individual)?We Answered:Yes, there are many lenders who will allow trusts now. However, the trust must allow it in its wording, and most likely the trust administrator will have to ok it as well....
Marilyn Said:Where can I find some mortgage calculators?We Answered:here are a ton of websites with calculators, most of them will give you a general idea but try talking a real estate agent, they will have some people they can recommend to go to so you can see if you will qualify for a mortgage.
http://www.google.com/search?hl=en&q=mor…Jesus Said:where can i find a mortgage interest cancellation calculator online?We Answered:Try this one:
http://www.bills.com/homeloan-calculator…Samuel Said:Where can I find a good mortgage calculator?We Answered:If you are going to need such a specific calculator, you should build your own in Excel.Ron Said:Where can I find a mortgage calculator...
Katherine Said:where can i find a mortgage company to refinance my loans after bankruptcy and what are the company names?We Answered:I don't think you can get off from this situation from any company. because no company wants to give loans on this situation. But if you have property then you can apply from anywhere to get loans and finances but upon a bit higher rates.Terry Said:How can i find a mortgage company to refinance me with bad credit?We Answered:Hi,
Depends on where you are, if you are in US, there's a lot of problem right now going on on Real Estate/Home...
Stacey Said:Is there anyone here who could me find a mortgage lender who offers the cheapest interest rate???We Answered:whats your credit like that determines your interest rate...
Monica Said:How and Where do I find Mortgage and Insurance Leads with a reputable company?We Answered:There are surely a lot of leads company out there.
I, too, am a broker and have been in constant search for a good company who will back me up and provide me with good leads. I can recommend you to this guy... his name is Jaffer and he is very accommodating and will surely help you all throughout your goals.
We constantly communicate through email so you can email him at liveleads4u@gmail.com or call at 313-778-1493.
I believe he has his website up at www.livemortgageleads4u.com
Hope you get...
Cynthia Said:How do you find out the mortgage lender of a particular property if you need to contact them ?We Answered:It should be on file with the county. Most counties have web sites . . ....
Wade Said:how do i find out what lenders a certain mortgage broker uses without acutally contacting them?We Answered:You can't, they will "shop" your loan. You can tell them which lenders that you do not want to work with.
Keep in mind that the deal does not close until you are happy and signed the closing documents.Jerome Said:I have excellent credit, and 5% for a downpayment. Why can't i find a mortgage lender?We Answered:Try Ditek or Quicken Loans on the internet. Both are FHA direct lenders. That makes a big difference in speed of doing the loan and...
Benjamin Said:Where to find reasonable mortgage rate?We Answered:With a credit history as you indicate you possess, you will do just as well with any local mortgage broker or bank. Do your homework and shop around. There's more to it than the interest rate, such as origination and other fees.
If you are looking to PURCHASE rather than re-finance, I definitely recommend a local broker or bank. I have dealt with a few homebuyers who have done 'online mortgages', and most have been a total disaster.
Loan docs incorrect, not on time for closing, etc. When the customer called...
Lydia Said:What is the best way to find mortgage pool investors?We Answered:Try http://www.breadstreet.com they have thousands of investors, Private individuals,angel investors, Venture capital groups also check out their 15 day risk free trial .Larry Said:Where I can find the best mortgage deal?We Answered:go to www.moneysupermarket.com they compare lots of different prices.Paul Said:how do i find the best mortgage rate for a given credit score?We Answered:Best thing you can do is contact a mortgage broker and explain him/her your situation. They have more than one option to explain but make sure they dont try to sell you a mortgage reduction program.Henry...
Terry Said:How do I find a mortgage lender that does US/Canada loans?We Answered:Go to www.daveramsey.com and look for one of his endorsed local providers. Check 'em out and see what sort of deals you can get...Harold Said:I need to find good mortgage lender?We Answered:I think one of the sponsors here are Quicken Loans.Doris Said:How to find Mortgage Lender when on Fixed Income?We Answered:Your credit rating will be key here since you have low income. Also your debt load. To qualify for a loan, it's the WHOLE package of you: adequate income, sufficient down payment, stable employment/stable...
Jimmie Said:Can anyone help us with finding a mortgage?We Answered:the unfortunate answer im afraid is nowhere, due to the credit crunch there are no lenders offering 95% mortgages unless you are a current borrower.
the lowest is 90% which both Abbey & Nationwide both have availableRonnie Said:Any good websites for finding a Mortgage?We Answered:I don't recommend shopping for a mortgage on line. Compare the rates with your local mortgage companies. Your local newspaper will have most of the current rates posted on the weekend. If you don't have the time, consider going through a mortgage broker. They will do the leg...
Derek Said:What's the best method for finding the absolute lowest rate on a 30-yr fixed mortgage?We Answered:Go directly to the website of your local banks, credit unions or retail lenders such as Countrywide, B of A or Wells Fargo (aahh).
Steer clear of mortgage brokers unless you know someone in the business who is willing to waive some closing cost fees.
By the by you should put stock in customer service....the big 3 I just mentioned have horrendous customer service records. Lack of customer service can put you in a foreclosure situation that you don't deserve....
Isaac Said:what is the best mortgage rate that I can find with a score of 773,746,698?We Answered:Your credit is outstanding and would not have a problem getting qualified but my concern is how are you going to pay your mortgage. A mortgage payment for an average priced home in California is going to be about your monthly income as it is. I would recommend a condo or town home but even then your looking at $2000 a month mortgage payments. My opinion is to not buy but rather rent as if that is your only income I don't feel that...
Wayne Said:Does anyone know the best way to find the best mortgage?We Answered:Rates change as often as several times a day so shopping by rate doesn't make a lot of sense, especially since it is only one component of what makes a mortgage loan the best one for you.
Call you current lender and ask about a streamline refinance. These can be very, very cost and time effective.
We all send our loans to the same investors, rates don't differ enough from lender to lender to make that much of a difference. It takes a pretty good differential to make...
Jeanette Said:Why did Countrywide continue to purchase enormously inflated mortgages from first level lenders?We Answered:They were lied to by Fannie Mae and Freddy Mac and lead to believe that those mortgage backed securities were government backed.
This was THE FRAUD of the century, if not the largest ever in history.
That Fraud has crashed the entire credit system world wide with the exception of some small off main stream lending institutions. The world economy depends on the credit system, and without flow through that system nothing moves and our economy crashes. Most of the world economy crashes.Louise Said:Can I turn down a...
Brad Said:Best Mortgage company for first time home buyers in Central Ohio?We Answered:yes go to lendingtree.com and they make finance companies compete for your loan and this normally results in low interest rates allot of companies have really good deals for first time buyers so be sure to ask about them also dont forget you get the tax credit next year of 8900.00 dollars if you buy this year hope this helps yaRyan Said:What are the best mortgage company to apply to for first time buyers?We Answered:It depends on your concerns. If you don't have money to put down...
Rosemary Said:Who really caused the sub-prime crises Democrats?We Answered:Henry Cisneros under the Clinton adminisration authored the entire mess.Howard Said:The Government-Created Subprime Mortgage Meltdown?We Answered:I have to disagree. The sub-prime crisis was created by the lenders, home builders and borrowers out of "GREED". Lenders teamed up with home builders to take advantage of the low interest rate environment and came up with all kinds of "fancy" loan products to allure those low-income buyers into purchasing homes they couldn't afford down the road. Our government has been allowing these loan products to be offered to the public. You...
Wesley Said:Am I eligible for an $8,000 first time home buyer tax credit, if I assume a mortgage? Lender says its OK?We Answered:The financing has nothing to do with it. You just need an accepted offer and by 04/30/10 and you must close by 06/30/10.
If you qualify under the other guidelines of the first time home buyer's credit and the lender will allow you to assume, you don't have to get your own financing.Melinda Said:I have a different kind of mortgage for a first time homebuyer loan. Will I still get the credit?We Answered:It depends on how the current owner...
Harry Said:Do lenders only include the first mortgage in a foreclosure?We Answered:Find out if your state is a recourse state for the purpose of deficiencies in loans after foreclosure. Generally on a lower down payment foreclosure, if the lender doesn't think the property will bring enough to cover the first mortgage, they will not include the second mortgage in the foreclosure proceedings. That will allow them to pursue you for the amount of the second mortgage. Whether or not this will work for them depends on a number of things that are specific to the laws of...
Mattie Said:How long does a short sale take with two loans once the first mortgage loan has already accepted?We Answered:the first mortgage is usually the easy one, as they get paid off first. Is there anything left for the second? If not, then why would they approve it?
What are the numbers? 1st, 2nd, and amount offered?Bradley Said:What are all mortgages loans for first time buyer? What is the current interest rate on mortgages loan?We Answered:There are no "first time home buyer" loans as such. There are loans available from FHA, VA and the USDA which don't require as...
Pedro Said:My fixed rate mortgage has come to an end. Should I get a new one now or hope interest rates fall again?We Answered:Run, not walk, to your bank and get a 15 year fixed rate loan. With all the stimulus borrowing (UK,EU,US) crowding out cosumer loan demand, it will be a very long time before you see anything near 5% fixed.Deanna Said:What happens when your fixed rate mortgage has expired?We Answered:When most people call something a fixed rate mortgage they mean a fixed rate fully amortized mortgage.
What you must have is a mortgage that the rate was fixed...
Maureen Said:Do husband and wife have to be on Mortgage in florida?We Answered:I have problems with all of the answers above. (Please do not use a lender or broker for your loan who is not familiar with the laws in FL.)
Unfortunately, I can only give you a generic answer to the MI question, but I can address the FL.
The person you spoke with is correct. However, I think you may be confused on what a "mortgage" in Florida is.
The "Mortgage" puts the property up as collateral and the "Note" is the obligation to pay.
Since Florida...
Jorge Said:Where can a report a deceptive mortgage practice?We Answered:HUD, Housing and Urban Development, might be the place to go. Their website lists HUD approved Foreclosure Avoidance Counselors. My experience with them is that they are knowledgeable about mortgages and working with lenders.
I recently read a very interesting book called "Mortgage Wars" by Iris Martin. She had quite a bit to say about mortgages and deceptive lending practices. The Federal regulations are the Truth in Lending Act and the Real Estate Settlement Procedures Act. There may be quite a bit you can do. An attorney would be VERY helpful. Fair...
Aaron Said:Do Different Mortgage Lenders Charge Different Closing Fees Or Are They All Pretty Standard?We Answered:the fees do vary but they are pretty standard. FL does have some additional state and local taxes that are pretty hefty so be prepared.
You should look at either seller concessions to cover your closing costs or a USDA loan which will allow you to roll the costs in to the loan with some restrictions.Erik Said:What happens with the 2nd mortgage in the state of Florida if our 1st mortgage forecloses on us?We Answered:If your first mortgagee forecloses, the second mortgage will be eliminated, unless...
Shirley Said:Savings on state taxes for mortgage insurance payments?We Answered:Depends on what state you are in. Some states don't allow any deductions, even the items you can deduct for federal.Don Said:How do i add a formula to calculate for adding mortgage insurance?We Answered:In the us mortgage insurance will change with the amount financed and how much above the 80% the loan is. The tricky part in putting this in a calculator though is that it will also change some with different loan programs. Basically what I am trying to say is there is no set formula that can be...
Michael Said:Need help with getting mortgage approved?We Answered:Can the military help you in this situation? Don't they have offices on base that deal with issues like this?Connie Said:Wife owns a house, I'm not on title or mortgage. Can I buy a house on my own income?We Answered:If your income was included for getting the mortgage on the home then you might have a problem with the debt to income. Next if it is because you are trying to get the home buyers rebate, forget about it as you are married and own a home (especially if the interest is...
Duane Said:Mortgage Broker. who does he work for?We Answered:You have asked 2 questions: who does the lender work for and are you getting a good deal.
The lender represents you the borrower. By law they can't disclose information about your loan to the builder - even if it's the builders own lender (like NVR mortgage is owned by NV homes). The main reason the builders pay closing to use a referred lender is that the builder knows that the referred lender will get the loan done. The builder can put pressure on the lender to settle on time....
Phillip Said:Does changing jobs affect my ability to get a mortgage?We Answered:While no one can give you an absolute answer, typically mortgage companies want you to be at the same job with the same employer for two years. HOWEVER, the one major exception is when you make a lateral move to a new employer. Since your income remained the same and you are doing a similar job, it may affect your chances of getting a mortgage very little.Carrie Said:Can international home buyer get a mortgage to buy a house in Australia?We Answered:yes -- with 30% down plus...
Ted Said:What are my options in getting a new mortgage; will it be a regular one or an investment mortgage?We Answered:As long as you plan to live in the new house it should be an owner occupied mortgage. However, you will need to have a written lease on your current home to count the rental income in qualifying for the new mortgage and generally they count the rental income at 50% of what you receive.Dana Said:How does getting a joint mortgage work?We Answered:the answer to that is very easy - if u both re loaded with cash and have...
Eugene Said:Does anybody know of some good mortgage lenders in South Africa?We Answered:I suggest you visit the websites for banks and financial institutions in South Africa. Insurance companies should have worldwide offices so you may check where you live.Christy Said:What should I look for in a good mortgage lender?We Answered:Always shop. Use the big ones as they are MUCH less likely to nickel and dime. Ditech and Bank Of America have great programs, especially for firs time buyers. Stay away from mortgage brokers!...
Wallace Said:buying a property in Ontario, Canada on mortgage. need info regarding interest rate stuff.?We Answered:Interest rates are competitive and you can find the posted rates at any of the banks' website. This website is for a mortgage broker in Ontario that places private mortgages, usually for less than you can get at a bank. http://www.omac-mortgages.com
Property taxes vary between municipalities. You should contact the municipal office where the property is located and ask them what the taxes were last year.Frances Said:What is variable fixed mortgage?We Answered:forget it. . . . .
rates are at historic lows
get a fixed rate loan....
Ella Said:Any recommendations for a mortgage company?We Answered:i could help you set up on a biweekly program that would take half of the full payment every other friday instead of the full payment once a month. this also brings a 30 yr loan to a 22 yr and 7 mo loan and pays your principal down faster as an excellent savings on paying the interest.Freddie Said:Are you looking for a great mortgage company in colorado?We Answered:I looked them up. No complaints with the BBB, of FHA. They have been in business a little over 7 years. 9 branches in Denver...
Priscilla Said:I'm looking for a great mortgage rates in Sacramento, CA? Where should I look???We Answered:Anywhere in the US, I'd use bankrate.com. They have information for banks all over the country. You can also use the information there to leverage with other lenders. On my last home, my builder pushed me hard to use their lender, but their rate wasn't that great. I used what I found at bankrate.com to negotiate a rate 0.75% lower (a HUGE difference on a mortgage).Dennis Said:Anyone have experience with Quicken loans who offer great mortgage rates over the radio?We Answered:I work for Quicken Loans...
Adrian Said:Would being a Guarantor affect our Mortgage?We Answered:Yes, it will affect your credit of being the Guarantor because if your husband's brother default on his rent, you will be responsible for payment. You will be asked a question at the time of refinancing whether or not you are the guarantor on any potential debt obligations.
For the brother to be needing a guarantor spells out clearly that he does not have a good credit to rent a flat by his own credit rating.
In the end, it's the decision by you and your husband. I also understand the emotion. But one...
Chris Said:Can anyone help me find a lender to help stop foreclosure?We Answered:My sympathies That's not a good situation to be in...
One thing to remember is that your existing lender will lose money if they foreclose - they have some motivation to negotiate with you. The trick is finding out who to talk to.
Another avenue to try is one of the credit help agencies, they can often help you negotiate with your lender to avoid foreclosure.
See if there anyone who will lend you the money to get current on your payments.
If you have to...find a buyer for the...
Diana Said:why would a hard money lender not make this loan? 65% 1st Mortgage from lender seller second for 35%?We Answered:It is the total loan to value on the home @ 100% I don't think there is a hard money lender out there that would do this loan. The buyer has to put some money down, probably at least 10%.Ricky Said:What is a "hard money lender or loan"? vs a regular mortgage lender?We Answered:a hard money lender is for people that have poor credit and can not get a good loan from a regular lender.......they charge you a very high...
Erika Said:Calling all professional mortgage lenders........hard question?We Answered:Your FICO score should theoretically go up with a higher limit, and a lower usage percentage, both on that card and on overall credit availability.
Your friend is simply wrong. Or at least he is when it comes to mortgages.
I have yet to ever hear an underwriter express concern because there's too much available credit. It may be handled differently by auto financing, but I doubt it, since most of that is FICO-based as well.
My best guess is that your car salesman friend was told that, because it's a good way to...
Christine Said:who are some mortgage lenders in hawaii?We Answered:First Hawaiian Bank
Bank of Hawaii
American SavingsMelinda Said:Why do Mortgage lender's interest rates vary? is it wise to choose the cheapest?We Answered:Whether you take a 15 or 30y mortage is up to you. Most people take 30y. 10 years ago it was unheard of to have anything but a 30y mortgage.
- Also the 4.25% is the highest PUBLISHED rate, the highest rate (low down payment, low credit) could easily be over 10%.
It's wise to talk to a mortgage broker to find out what is the best situation for you.
I'm...
June Said:can anybody think of a good name for a mortgage broker who helps with problem mortgages with high st lenders?We Answered:The Loan Arranger
Hope you find a TontoFrances Said:Who are most competitive mortgage lenders for people with really high credit scores?We Answered:Ask your real estate agent. they typically have a few people they like to deal with - usually because their past clients have been happy with their product and services. Be very careful about taking the info from the newspaper. If a company's rates look too good to be true, they usually are. While you...
Patricia Said:What happen when a Adjustable Rate Mortgage the adjustment period is longer?We Answered:Not sure what your question is but I think you are asking does the mtg company make more or less when the rate adjusts. It doesn't matter to the mortgage company. The adjustment is based on the index at the time the change will happen. So, the change will reflect the current economic conditions. They are not in the market to lose money so it is well thought out....
Phyllis Said:how did the Republicans get the democrates to force lenders to handout high risk mortgages to deadbeats?We Answered:Lenders never lend money unless they have the property as security in case of default so they can repossess the property. They must have been government guaranteed loans. The government guaranteed to repay the lender the whole amount of money that they were owed. Lenders never loose. There is expected to be 4 million homes repossessed in the United States of America in 2010. (That's approximately the whole population of New Zealand.)Enrique Said:Would a tax credit for mortgage payments be more effective...
Sally Said:What Mortgage Lenders/Banks should I avoid?We Answered:Quicken, Everbank, and Compass are names I know.
But... be careful - they are pushers of things that are Evil.
They will try to scam you into variable loans, ARMs, 5/1's, 5/5's.
Interest rates could easily double in 5 to 7 years.
Making your interest portion of your payment almost double - and you could lose your home.
None of these companies are your friends.
You must stick to 15 or 30 year FIXED.
And don't let these sharks take advantage of you by signing something you do not undertand.
Google:
How much house I can afford and do your research.
These banks...
Seth Said:Can my wife take a home equity loan for personal use on a jointly owned home without my consent?We Answered:If your home deed is in both your names, then no, she cannot take out a loan in only her name without your consent. She can only take it out in only her name WITH your consent legally. If your mortgage company has done this.. then they did something incredibly illegal. You need to call the mortgage company on this.. Best Wishes!Dustin Said:Can I pay off a home equity loan with my credit card ( lower interest...
Ivan Said:What to look for when shopping around for home equity loans?We Answered:You have to have a mortgage license to collect a commission. It is not legal to be involved without a license.Erik Said:what can you tell me about home equity loans in Galveston Texas?We Answered:It is possible, but everything is dependent on the value of the improved property where the house will be moved. Assuming the house you will be moving is not a mobile home, the value of the lot your already own will rise dramatically, but you are not guaranteed the value of what...
Andrew Said:If I purchase a home in all cash would I get a mortgage or home equity loan?We Answered:If you purchased the house with all cash and shortly thereafter refinanced the property it would be a first mortgage.
The mortgage are determined as to which mortgage is recorded first no matter what they are called.
Why would you purchase an investment property with all cash, and shortly refinance it. Qualify for and get the mortgage, keep the cash for other things. The only way this make sense to an investor is that time prevents you from getting a loan.
There are tax...
Justin Said:Has anyone financed a home mortgage loan through eloan?We Answered:E loan is neither a mortgage bank or an investor so, no, they do not service their loans but sell that servicing to others for a profit, just like many wholesale lenders.
A successful borrower/lender transaction is determined just like anything else, the proficiency of the lender and the quality of the communication between the two parties.
As a direct mortgage lender I am, of course, somewhat suspect of reaching into a barrel when I don't know if I'm going to come up with an apple or a snake, but it is...
Peter Said:After closing on a home mortgage how long after the 3 day cancellation period may the lender delay payment?We Answered:about http://www.google.com/custom?hl=en&clien…...
Dianne Said:After closing on a home mortgage how long after the 3 day cancellation period may the lender delay payment?We Answered:If you are looking for the best home mortgage rates or want to reduce your mortgage loan payments, check out this site
http://Best-Mortgage-Refinancing.com
Here you can get free quotes from all available companies in your area. its the best way to find an affordable payment with a reliable company.
Hope this help,...
Lucille Said:Is it true that certain mortgage lenders can approve a home loan but refuse to have the seller pay 6% of the?We Answered:depends how it is written
if it is written as such..it may look like part of the mortgage closing..
or if it is written as an addition after all the contracts were signed and as a "perk" to help you close as an after thought..
rather than a "fruit basket" a gift of cash to help you close..
so..it is how it is written..has to be after everything is done....and agreed to....not with the finance/mortgage part..
so ask your realtor............
if the realtor...
Lisa Said:Can some banks/lender close a home loan within 10 days after they receive the home loan application ?We Answered:Yes, if the buyer has all of their ducks in a row.Anna Said:When am I tied up to a LENDER during home loan process ?We Answered:You are committed as soon as you have signed the loan paperwork (not application), usually called "settlement" You can get up from the "settlement" table and walk out, you may be out some money, but your never "tied" to a lender until they have a signed contract. Same goes for them, they are not...
Oscar Said:Home loan lenders are crazy?We Answered:Assumedly the offer is contingent on you getting a loan from the lender you put on the contract, which you have been unable to do. However, the seller will probably happily let you use the other lender (I mean do you really think they care where the money comes from as long as you can get it).
So, I'm sure you can use the new lender but you better have your agent write up an addendum to the offer changing the contract to be with the 2nd lender (you and the seller will...
Nicholas Said:what are my basic concerns an priorities when i look for a home mortgage loan? I am a first time buyer?We Answered:Shop around to get the best deal on a conventional 30-year fixed rate mortgage. This is the "standard" mortgage that offers very competitive terms for you, the consumer. Needless to say, you get the best deals the larger the down payment (10-20%) and the better your credit rating.
See what your bank or credit union offers, as well as other local lenders. Mortgage brokers seem to be out of favor these...
Lee Said:Can we get a home mortgage loan with poor credit?We Answered:It is absolutely possible to get a mortgage. Our lease on the house we are renting is about to expire and out of curiosity I called to find out if it was even possible to get a loan. My credit score is around 550 and we were able to get a mortgage with only 3% down and a 30-year-fixed with an interest rate of 6.625. Maybe some think that is high but I'm definitely willing to lock that in for nowf until I can get...
Andrea Said:Do you think the FEDS meeting which started today will lower the home loan rates tomorrow ?We Answered:Most people I have read think that the Fed will wait at least another month before doing anything. They really only have one option (speed up their purchases in the bond market) and they may be loathe to do this because of the possible ramifications on inflation. However, the Fed has surprised before, so who knows.Randy Said:Do you think home loan rates will come down this week ?We Answered:I don't think so its going to come down any soon. In...
Randy Said:Which of the following 30-year fixed home loan (refinance) is a better deal?We Answered:It can depend on how long you stay in the house.
The first option is better long term
Second option better for short term
Reasons: Option 1 costs more in fees, but the lower rate calcs to a lower monthly payment by around $15 a month (assuming fees are rolled in the new balance in both cases) It will take 38 months for that $15 a month to "pay for" the $575 in extra fees. From that point on, you are better off, so it's better...
Tim Said:How many home loans/mortgages can I take out at a time (on separate properties)?We Answered:as many as you can afford.
However, each deal needs to stand on their own merit.
With investment loans, you usually have to put 20% down. Plus the lender will count only about 60% of the total income. other 40% goes to non loan expenses.
For example: rent is 1000 a month. Lender will say you have 60% income. Your mortgage is 700 a month. Cash flow you have a $100 positive. But to the lender you have a 100 negative.
I have many...
Jesus Said:What are the names of the BIG loan lenders.Personal, Home,Business loans.?We Answered:Capital 1, HSBC, Countrywide, Bank of America, Wells Fargo, Chase, Washington Mutual......
Norman Said:interest rates of student loans vs. home mortgage which one are higher?We Answered:Since mortgates are secured by the house, the rates would be lower than unsecured student loans. Florence Said:the interest rates on mortgage loans are based on prime?We Answered:I don't know. I'm justing hoping that it stays low for another few months, so we can sel our house, and buy a new one with a good interest rate.Allen Said:Mortgage vs. home loans?We Answered:Both terms refer to a loan secured by the home. Technically, the mortgage is a separate document that actually pledges the home as security...
Pedro Said:If I have 2 homes and default on 1 mortgage, does the bank come after the 2nd home too?We Answered:No. But if you let property get foreclosed and they sue you and get a deficiency judgment (if home sale doesn't cover loan balance), then they can place a lien against that second property.Doris Said:how do you renegotiate the terms of your home mortgage with the bank?We Answered:You are not exactly in a good position to negotiate .. let's be honest, if they refuse to cut you a deal, exactly what are going to do (take your Mortgage elsewhere ?)
In...
Carrie Said:Is it o.k to Pre qualify yourself with different banks for a home mortgage?We Answered:You can have as many as you want, if they are all within 60 days of each other there is no more impact then 1.
Many of the REO properties require you to pre-qualify with them in order to make an offer. This is not unusual, and you are not required to use them for your loan, only qualify.Colleen Said:what do home field inspectors charge mortgage companies and banks to inspect the exterior of a home with photo?We Answered:I would say that the...
Nora Said:Just purchased a home, and mortgage broker said we could refinance in 30 days. I need to know how that works?We Answered:Some lenders go by the appraised value but many go by the purchase price that you purchased the home (since it was so recent that you purchased) Did you purchase with 100% financing? Then you will need to find the lenders that go by the appraised value. Since it sounds like this is your primary residence it may be easier to do.
If you guys were satisfied with what the broker did the first time around go back...
Jane Said:A question for mortgage brokers regarding home equity?We Answered:Sure you can take out equity lines to buy other properties, but there are various restrictions that will hold you back. First off you can usually only get about 80% of the appraised value of the place where you are taking out the line. You could probably get a new mortgage that goes to 100% but you'll have to pay lots of fees to refinance and also need to pay PMI. Also, typically the bank will make you wait a few years (2 I think) until you can...
Stephanie Said:Will the home Mortgage companies stop loaning money because of Obama and his goofy ideas?We Answered:This is what happens when a completely unqualified, economically ignorant community agitator gets elected by the Dumb Masses.
A housing crisis created by Dems ( Subprime Loan) is somehow going to be fixed by Dems.
yea. and lets throw a bucket of water to the drowning guyJune Said:Does anyone know of any mortgage companies in eastern lower michigan that will finance my home?We Answered:I am a financing specialist. I work with home sellers everywhere.
My company Contour Mortgage can assist you, If you need our services.
as fast...
Lori Said:Liability of mortgage company for a home closing?We Answered:The closing is set up by several factors. If the title company and closing escrow are prepared to do the closing by having all the demands from any liens against the property then the closing agent or closing attorney will ask the lender to prepare the loan docs for signing and a date to send them.
The other factors in the lender or mortgage company preparing the closing docs is the underwriter might still need a few items to satisfy the investor requirements.
If you have a mortgage broker then this person might,...
Ken Said:How can i get 100% financing in Las Vegas for a Home Mortgage?We Answered:Las Vegas is identified as an 'at risk' market in our business. You probably already new that. Lenders have scaled back the maximum LTV's in the hardest hit areas. You may have luck pursuing an FHA with minimal down payment requirements. And the VA loan is an option if you're a vet. Here in Texas the HUD office has a promotional going for FHA repos with only $100 down. Check the HUD site and see if they have any deals running in Vegas. If you don't...
Ernest Said:How to request a copy of mortgage contract?We Answered:You may have to ask your parents to make the request. Unless you have their permission in writing to represent them. If you do; ask for a copy of the mortgage and the note. If this house had a closing then the closing company (title company) will have a copy of the docs.Joan Said:Is Home Capital Group Inc. HCG.TO a (Foreclosure Mortgage) stocks a wise "short" candidate?We Answered:As per TA on Yahoo Fin, HCG.TO seems in very higher range, its price is close to upper bolingerband, way above 10...
Ben Said:How many people hold a mortgage in the USA?We Answered:Eureka.
http://www.plunkettresearch.com/BankingM…Jacob Said:i need information about the mortgage credit for texas veterans first time home buyer?We Answered:Are you looking to get a VA loan and see if it falls under the first time home buyer? YES, it does. I can give you more specifics - I'm even in Texas.
The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased...
Armando Said:how do i figure home mortgage interest rates?We Answered:Most banks have them posted. They vary depend on the duration of the term...........Jessie Said:home interest rates?We Answered:Down, slightly.Naomi Said:what are the current home mortgage interest rates?We Answered:Bank Rate {.com} http://www.bankrate.com is a good site, but not all programs run on their rates which are determined by the Federal Reserve Bank.
There are several indexes that are used by different lenders and different lender programs. Such as the, COFI (Cost of Funds Index), COSI (Cost of Savings index), LIBOR (London Interbank Offered Rate), CODI (Cost of Deposits Index), and the MTA (Monthly...
Byron Said:Can I default on my home mortgage and walk away without lender going after my other assets?We Answered:If you own a house worth $100,000 but the mortgage is $110,000 - and you walk away - the lender has the option of foreclosing and coming after you for the difference. It's up to the lender, but if you just walk away without any communication, they will most likely come after you.
If the bank takes the house into inventory (bank owned) it will try to sell it for the best price, fast.
That could mean a sales price of...
Ralph Said:What Laws and regs are manufactured home mortgage lenders subject to in Oregon?We Answered:manufactured home, meaning trailer? Landlord, meaning trailer park owner?
Go to http://www.ftc.gov, and look up the consumer credit information. You'll find the Fair Debt Collections Practice Act, which will tell you what can and cannot be done. If you see a violation, document it, and file a complaint with whatever state regulatory agency (usually Commerce) handles collection agencies in your state.Allison Said:Question about home mortgage when house prices fall?We Answered:No. As long as you keep payments current they can't "call the loan."Rodney Said:Mortgage /...
Herman Said:attn: mortgage lenders, will me being laid off affect my home loan application?We Answered:As long as you have been at the new job for 6 months they should be OK with it, but the fact that it look so long to find a job will make weary if you have not had the new one long....
Julie Said:How do I know if I am getting a good home loan offer ?We Answered:If the seller or someone else is paying your "closing" costs, that's a good deal! You can negotiate that and you should be working with a mortgage broker or wholesale person. Banks tend to charge you "retail" and you might not get the best deal. In this market, your 30 year fixed rate should be in the 5.25% range. Your APR will be higher than this amount, as the government requires that any finance costs over the term, be reflected in that APR rate...
Marvin Said:How can I find out which bank will give me mortgage ( Home Loan ) on low interest rate?We Answered:Generally speaking, it is usually recommended that you shop three different mortgage lenders. It is up to you whether visiting them in person, calling, or applying online is the best route to choose. If you go to different lenders they will each check your credit separately. It is possible that new inquiries can drop your credit score. However, typically the impact is not significant. I am unclear as to whether you are trying to purchase a home or refinance....
Wesley Said:Does anyone know a reputable online Mortgage Lender?We Answered:There aren't ANY reputable lenders doing loans online. There is simply no such thing, they are all scams. You need to use one within your own state, preferably your own city.Mildred Said:If I get prequalified for a home mortgage loan online...?We Answered:A pre-qualification is nothing more than YOU providing the circumstances of your income, debts, etc. so that another person can give you a good idea of what amount you may qualify for.
Once you actually apply somewhere, then credit checks will be run and verification of...
Lillie Said:Is there a difference between a condo mortgage rate and a home mortgage rate?We Answered:since you are talking mortgage rates your mortgage company has the answer, ask them.Mabel Said:What are the negotiating terms/drivers for a 40 year fixed rate home mortgage refinancing deal?We Answered:If you are looking for the best mortgage refinancing site, try this site
http://best-mortgage-refinancing.com/
Here you can find the lowest interest rate in your areaDeborah Said:What is the average First Time Home Buyers mortgage rate?We Answered:The fact that you are a 1st time homebuyer is irrelavant in the rate.
Factors that determine your rate are your debt to income...
Jane Said:How can I moniter the home mortgage interest rates? I do not want a rate quote.?We Answered:My website has current rates updated daily. Scroll to the bottom of the page.
http://www.lenderhomepage.com/content/te…Antonio Said:what are the fannie mae and freddie mac mortgage home rates at this time Fixed?We Answered:The question can be answered by looking in your local newspaper. Looking in the newspaper will tell you what a person with perfect credit will be able to get it they applied for a mortgage loan with the lenders, bankers or brokers listed there.
This in all probability will not be the interest rate...
Peggy Said:does anyone know where you can obtain a Home Mortgage refinance while in a Chapter 13 Bankruptcy?We Answered:you would need to have no credit lates in the last 12months to do FHA.....
FHA also allows chapter 13buyoutsSamuel Said:How low should the interest rate be so that refinance home mortgage will be worth my while?We Answered:Emma without knowing the following, there is no way any of us can give you a realistic answer:
1. current interest rate
2. prepayment penalites, if any
3. how long ago was the mortgage originated and did you pay points
4. current costs for re-fi: appraisal fee,...
Ann Said:Website Problem?We Answered:if you are reffering to visitor counter there is a god web counter for free at www.gostats.comPenny Said:Is the zero refinancing home loan real ?We Answered:Get it in writing and read every single word of that, especially the fine print. It is very unlikely that they do not have a million clauses, including the right to rescind at any time....
Edgar Said:Will I get my escrow money back from American Home Mortgage after refinancing?We Answered:it is yours; now as to whether they kept it separate [in a client trust account like they should have] ...
tough to guess
might depend on state law in your state ... you'll have to google that for yourself.
***
it is almost certain sure that the refi was recorded the same day or the next day ... you can check on this at the usual place, possibly online [land records ... just put your real name in].
***
one thing's for sure ... your regular monthly payment is still due...
Jeffery Said:Are there loan home re finance mortgage debt consolidation in the Uk ?We Answered:consolidate debt in uk
More consolidate debt in uk Resources at:
http://www.creditcarddebtguidesite.com/3…Vicki Said:Thinking of buying a home for my student son.Mortgage Advice? UK?We Answered:If you buy the house with a mortgage, you could rent out the spare bedrooms to other students and receive tax relief on the interest.
On the other hand, just purchasing a house for 3 years sounds like a lot of dead money in terms of agents fees, stamp duty, etc.Cindy Said:Is there a mortgage or a loan company that deals with mobile home purchases in...
Clara Said:What is included in a monthly 'home' payment?We Answered:There are several costs to owning a home. First is the mortgage payment, which includes principle and interest. Depending on the lender you may have to set up an escrow payment (usually tacked on to the mortgage payment) to cover insurance and taxes.
Next you have utilities. This is gas, electricity, and water. This varies depending on your lifestyle and climate.
The last set of items are non necasary items. This is usually cable and telephone. The cost is determined by the options...
Leo Said:mortgage company trying to take my home, i have paid all my monthly mortgages and they still are trying to tak?We Answered:it makes no sense - what are you leaving out?Holly Said:how many months can you be late on your home mortgage before the mortgage company notifies of repossession?We Answered:3 months then your house goes into "foreclosure." Pay that mortgage ASAP. Your home is on the line. Don't think about filing for a "Chapter 11," because you will have to pay the money you owe and you will not be able to get ANY LONES from...
Charles Said:How will the recent cut by the Fed of the discount rate affect the intrest rates on home mortgages?We Answered:In 1983 I bought a home with a 13% interest rate. They had just gone down from 18% so they were great!
Today interest rates on homes are terrific. The Fed rate cuts only effect short term rates. Mortgage rates are more dependate on what the investors believe inflation rates will be over the next 10 years or so (statisticaly the life of most mortgage loans). Anything that makes them believe the inflation rate will be higher...
Vernon Said:how much is the usual interest on home mortgage in UK? pls explain?We Answered:i just got a fixed rate mortgage at 5.59%. so expect something similar. that means for two years the rate will not change but after that it will go up quite a lot depending on the changes in the bank of england base rate. at this point i will probably try to remortgage to another fixed rate.Salvador Said:how should we get home mortgage when we have 4 years valid visa to live in uk? and what do we need to have?We Answered:I thought, depending on your...
Vicki Said:Can I get a mortgage on an investment home after purchase?We Answered:I have known people to arrange the financing to close on the following day they make the original purchase. The major difference between the mortgage on the investment house will be the higher interest rate and higher insurance costs associated with non owner occupied property.Todd Said:Is it possible to sell a house with negative equity, and roll that into a new home purchase mortgage?We Answered:No.
You could contact your mortgage lender and attempt to do a short sale, where they agree to accept less than what is...
Wilma Said:what were typical mortgage rates in 1981? for a note carried by the seller of a house, and commercially?We Answered:They were terrible. I had a home back then. I paid close to 10% interest, with excellent credit and high (for the time) income.
Prices were really low, and interest was high. Back then you could write off EVERYTHING though, making it much easier to survive then it sounds.Alan Said:Can I get a mortgage in America for a house in Israel?We Answered:Speak to a loan officer at a US bank that has branches in...
Bruce Said:example of national fiscal policies that can affect mortgage rates, housing starts, and housing prices?We Answered:In the US, there is no fiscal policy that will affect the mortgage rates,housing starts and housing prices, except the crounding out effect. When the government has borrowed money from the public,it will affect the market interest rate. In developing countries, there are a populist policy such as soft loan, tax reduction etc to stimulate the property market.Tommy Said:How is that Bush Administration housing boom going with the adjustable mortgage rates?We Answered:You should've been watching NBC Nightly News with Brian Williams. They were...
Franklin Said:How to choose mortgage lender?We Answered:FICO scores 300 to 850, so you can't have an 890. Your best bet for buying a home is agreeing to a price verbally without signing something unless you are afraid of losing that price. They will want a 500 payment to honor thier price and give you 30 days to get the financing, so you need to get a verbal agreement on price from the owner before looking for a mortgage provider. I suggest bankrate.com to find a mortgage company or bank to finance your house. They will want...
Sara Said:how can i find a realtor that works FHA loans?We Answered:FHA loans are traditionally for people who have less than excellent credit. If you have good credit , check out some conventional loans. They are better in most ways. ( i have gotten 2 FHA loans in my life so i know they aren't terrible, just not wonderful).
The best lenders charge the least in fees, the lowest interest rate, close on time, don't surprise you by saying "There is a tiny problem" 3 weeks into the purchase. But how do...
Frederick Said:How does a mortgage holder get out of PMI payments on their mortgage loan?We Answered:PMI protects the lender in case your loan goes into default. The only way to have it removed is when you owe less than 80% of your home's value.Charlie Said:Can I get a Home loan with bad credit?We Answered:The 20%'s a huge help. Most people before the housing collapse didn't have the funds to put down a payment.
It depends on how good your wife's credit is and your income. You can use a mortgage calculator to see how affordable the mortgage will be for...
Linda Said:will our lender start foreclosure if we are in the midst of trying to obtain loan modification?We Answered:Truly, only Wells Fargo can answer this question. Part of the problem with the big banks is that none of their departments talk to each other. Even though you are trying for a loan mod, the department that initiates foreclosures won't know that and will likely move forward if it's reached that point. The most important thing you can do at this point is constant communication with them. Call them and let them know you can't make the...
Lori Said:How did Bush encourage the mortgage companies to develop exotic loan products for the subprime market?We Answered:You can't hang this on Bush. All the elements were created before he came into office. The R/E bubble collapse is not a "disaster." It is a perfectly normal end to the latest financial bubble. Everyone who got hurt voluntarily took the risk.Ashley Said:How is this going to affect the banks and mortgage companies?We Answered:They would have to show economic impact from the oil spill in order to qualify.
If many people default on their mortgages, the economic impact would...
Travis Said:A loan officer who work for a mortgage broker license under Department or Corporations in California can be inWe Answered:depends on how you're compensated. 1099 is reserved for commission only employees or contract employees. were you to receive a salary then you would be an employee. did you fill out a W-2 or W-4 when you started there? W-2 is salaried employee and a W-4 is an employee who is paid on a commission only scale. check your HR and see if either or is possible. shouldn't realy matter but in your case I'd go with 1099 (if they...
Willie Said:change in career from bank business manager to mortgage broker...?We Answered:I am sure you will be greatly respected as well. Try doing something meaningful with your life, or you will end up with a semi-detached bungalow, hundreds of yards from a Public-House, and unable to talk of anything but newest Mobile Phones. Dolt.
Try looking at, for example,
www.slavery.org.ukRick Said:If i was ripped off by a mortgage...
Mabel Said:Is there a statute of limitations concerning when a mortgage lender can refute an appraisal report?We Answered:It depends on what they sue your for. Presumably, they are claiming your appraisal was no good and they suffered loss as a result. If they say you breached a representation in a contract, it arguably could fall under the rules for contracts, which vary. If it is fraud, it is 6 years from the alleged fraud. For negligence, it is 2 years from the discovery of the negligence. Personally, my money is on the negligence, since they'll...
Barbara Said:Which mortgage: 'interest only' or 'principle + interest'?We Answered:INTEREST ONLY LOANS ARE GOING TO BE LITTLE BIT EXPENSIVE.
AND NOT MANY LENDERS ARE OFFERING THEM THESE DAYS.
THEY ARE NORMALLY MADE FOR 5 ,7 ,OR 10 YEARS.IF YOU WANT TO KEEP THE PROPERTY MORE THAN THAT,YOU ARE GOING TO HAVE SOME VERY HEAVY PAYMENTS ALONG THE WAY,BUT IF YOU PLAN TO SELL THE PLACE IN THE NEXT 5-7 YEARS,THEN YOU WILL BE PAYING LESS EVERT MONTH. FOR THE SECOND PART OF YOUR QUESTION,NO THEY WON'T LOAN MORE MONEY BECAUSE IT IS INT.ONLY.Margaret Said:I have an interest only mortgage. My lender...
Thelma Said:How much can I expect back in a tax refund If I am deducting 100% of my interest only mortgage payment?We Answered:We would have to know how much you payed in to answer that. Assuming all of the $1200 mortage payment was interest and that none of that went to an escrow account for PMI or real esate taxes (which some of it probably did) you adjusted gross income would be $32,300 ($50,000-Itemized dedution 14,400-3,300 exemption).
That means you owe $4,626. Anything you paid in more than that would be a refund. If you paid in...
Billy Said:What is an interest-only mortgage? How does it differ from fixed-rate and adjustable-rate mortgages?We Answered:An Interest Only Mortgage is when the payment that is due only covers the interest applied to the loan balance.
How is differs from a Fixed Rate Loan is that an Interest Only Loan is only fixed for a certain period of time (2, 3, 5, 7, or 10 years) and then it will adjust. So in essence an Interest Only Loan IS an Adjustable Rate Mortgage once the fixed period expires.
An Adjustable Rate Mortgage is a loan that is fixed for a certain...
Lorraine Said:Fixed rate mortgage and interest rates going low?We Answered:If your mortgage is fixed rate, then that is the rate you'll be paying on it, regardless of what is happening to interest rates in general.
For example, say when you took the mortgage out they said "we'll charge you 5% interest fixed for 5 years" then even if mortgage rates go to 1% or 20%, you'll still be charged 5% for the next 5 years. It's a "gamble" that you entered into. If mortgage rates went up to 20%, you win, because you still pay 5%. If they went down...
Ralph Said:International mortgage for Brazil property (high end apartment)?We Answered:If you can afford for a apartment for 1m $, you can afford for a decent lawyer as well. Don't waste your time here, get an appointment.Charlie Said:Whats the best advertising for my mortgage company??We Answered:WOW !!! A mortgage company, religious group and a charity all rolled in to 1 entity.
How convenient !!!!!
Betcha Jimmy Swaggert is pissed he did'nt think of this SCAM first.Mabel Said:international mortgage?We Answered:No US Banks or Credit unions will mortgage foreign property period. Your going to have to deal with the Banks in Costa Rica.Gary Said:need...
Amy Said:Will mortgage rates drop anytime soon? I am about to refi an investment property?We Answered:I have read that the Fed is worried about inflation and is reluctant to push rates down despite the current recession and credit crisis. They may go a little lower, but it won't be much. At these levels, definitely do a fixed rate. Rates will likely climb back up in a year or so.
Make sure the lender you choose has the money to fund! Ask to see their balance sheet. A lot of lenders may promise great rates, but they...
Laura Said:I cannot get a loan to save my life and we have perfect credit.?We Answered:I want to make sure I am understanding your information correctly.... You currently own a home with a mortgage of $500k you are looking at purchasing a new home putting $400k down and financing $800k.
Then you mentioned "income from my band" so I am assuming that means you are self employed. You will need to look at your last two years of tax returns and take the average of the two years to truly determine your gross monthly income. If...
Carolyn Said:Mortgage lender offer no point no cost program but requires my CC number.?We Answered:NEVER have I been charged up front for a credit report - NEVER.
And you can find loans that offer no points ANYWHERE.
Google the name of that company followed by the word scam.
Be careful if there are no complaints - even churches have complaints.
If there is nothing it could be a company that just popped up overnight.
Sounds like you are doing an online mortgage loan - really not a good idea AT ALL.
I've seen many companies that offer jobs and charge for a credit report upfront.
They don't...
Vernon Said:When do you think the mortgage crisis will reach its apex?We Answered:BOTH. it's so distressing cause I bought my house a year and a half ago and now the market dropped and it's worth 30 thousand less (all the money i saved to put into a down payment is gone) but when I signed my contract, i KNEW what it meant. i KNOW i have a 7/1 year ARM, i KNOW that after 7 years my payment will more than likely go UP UP UP. I know what I can afford, and i figured i'd be...
Franklin Said:will a mortgage lender finance a home that is real estate owned?We Answered:There is no difference in the financing - unless the appraisal shows significant damage and the lender chooses to not lend on the property because of that....
Deborah Said:what are the largest mortgage lenders in the united states ?We Answered:Countrywide is one of the largest.Shelly Said:What does it mean when mortgage lenders "pump $200 billion" into the "markets?"?We Answered:You are close to the answer, the point is to try and bail out the banks by allowing the Fannie and Freddie Mac agencies to buy up the loans. Unfortunately, the agencies are a bit tight on cash at this time, so the oversight committee is letting them bend the rules in hopes they will go out and spend billions on more loans. Considering that the agencies...
Chris Said:Is it typical for a lender to charge a PMI on a VA loan?We Answered:All of these answers are slightly incorrect. VA does have mortgage insurance, but it is financed through the VA funding fee the is collected through the loan, resulting in no monthly payments. Size of fee, depends on if you've used your VA benefits before, or in other words on your entitlement.
Still though, you should not see a MI or PMI payment present on your good faith estimate. It could simply be a mistake, most loan systems are automated now and these things happen....
Clayton Said:How does the recent rise in Mortgage Rates Affect Selling Prices?We Answered:This is the reason why the bailout won't work. You are right about the housing prices dropping. Any rise in additional expense of purchasing a home will hinder buyers from entering the market. The sale price of homes will fall to adjust to the higher expense. With the lower sale price, appraisers will need to use the lower prices to compare value of new sales. Thus reducing the number of new sales. Then the banks will suffer again and guess what ? We will bail them out again...
Courtney Said:Mortgage lender application fee up front?We Answered:I think it's a scam.Maureen Said:Have mortgage lenders put up arrangement fees?We Answered:Mortgage arrangement fees have risen massively over the last few years. Rates on tracker mortgages have trebled in the last year to an average of £750, according to some reports, and fixed-rate mortgages now routinely come with fees of £1,000 or much more.
Cecil Said:what is meant by lender-based loan fees in the mortgage analytics industry?We Answered:According to mortgage analytics firm Heitman Analytics:
Lender-Based Loan Fees —
Fees collected by banks and lending institutions to cover lender’s costs associated with originating the loan for...
Ronald Said:mortgage company vs lender?We Answered:There are lots of mortgage brokers out there who will take all your info and then shop it around to different lenders. They are supposed to find the best mortgage for your situation, but I've not had great experience with them.
I've found them to be more expensive (since there is an extra middle man) and they seem to look for the mortgage that gives them the biggest fee, not the one thats best for me. Anyhow, I'm sure there are good ones out there too, and I digress as that wasn't your...
Ann Said:In foreclosure process, second assumed by lender's mortgage insurance. Now what?We Answered:depends on the security instrument. HELOC can be collected in almost all cases.Adrian Said:Does mortgage insurance (PMI) protect or assist the buyer in mortgage default or just the lender?We Answered:1- The benefit the "lendee" gets is that he/she can buy a home with as little as 3% down instead of the customary 20% down payment.
2- The only time (as I understand it) that PMI pays out is if you actually have to forfeit your home. Then it pays the lender any money that is lost from the...
Harold Said:If my employer disables my corporate email and network access, how will it effect my Outlook program etc?We Answered:better get a printout out your contacts or save the file as a personal outlook file I thinks it's called before they cut you off or send an internet bomb to your accountHerman Said:Are "mortgage bankers" pretty much considered sleazy like used car salesmen?We Answered:I don't think I'd call that job 'sleezy', but that's just my opinion. Also, you should worry less about what everyone thinks about your husband's job and worry more about him being happy. If he's happy with...
Wayne Said:Where can I look to find a private mortgage lender?We Answered:A private lender would work for you for ~10% but *NOT* with no money down + low credit score + recent bankruptcy.
Best thing is to save up some $ first. That's really your only way. Or find some $ to put down from friends/family.Evelyn Said:I am going into foreclosure. A private lender has a 2nd mortgage on my property. What will happen to that?We Answered:The first mortgage company has to share any available proceeds---after getting their own money-- with the second lien holder.
If the sale is...
Jesus Said:Is there a mortgage lender in Illinois that will do a legitimate 125% LTV mortgage with reasonable rates?We Answered:Highly doubtful. You will pay in rate.Caroline Said:Does each lender pull your credit when scoring you for mortgage rates?We Answered:YesLois Said:How do I decide which mortgage lender to use (interest rate) - not closing on the house for two more months?We Answered:If you can get 6.38 right now on a fixed, just lock it and go with who you know. It's a good deal and it'll give you peace of mind. You can shop as long as you want,...
Susan Said:I am paying PMI on my mortgage. If my home value reaches 20% in less than a year can I refinance out of PMI?We Answered:You don't need to refi, all you need is to have 20% equity. Your problem is you just bought the house and have not even made the first payment. How could your house appreciate 20% in 1 month? 2nd problem is when you have your home appraised (required for PMI deletion) the appraiser will have to explain the 20% appreciation in one month and back it up with supported facts and I don't know of...
Norma Said:Is it better to deal with the lender or use a lawyer for a mortgage modification?We Answered:Don't you think you are better off working with your current lender rather than hiring an attorney and possibly alienating them from being able to work with you even if they wanted to? I think your lender would be more willing to try to help their own company keep the loan if they can. If not, you haven't lost anything by going to them first.
And I've never heard of a lawyer that does mortgage modificiation. Just FYI- once you sign...
Mae Said:Can anyone reccommend a reputable UK Buy To Let Mortgage lender?We Answered:Check out www.npda.co.uk.
Its the national property developers association so I'm sure someone there will be able to advise you.
You can become a member (for free) and ask in the forum.
Hope this helps!!Holly Said:Are diamond lifestyle any good as a mortgage lender in the uk?We Answered:There are better ones out there:
http://www.mirror.co.uk/news/mirrorinves…Diane Said:Buying a property in America (UK mortgage or US mortgage lender?)?We Answered:With dual-citizenship status, you <presumably> have a Taxpayer Identification Number(TIN) already, so - if your credit is good - it should be no harder obtaining a mortgage...
Lonnie Said:refinanced gone wrong Empire Wholesale Lender took thousands from me. who can help me fight back?We Answered:Don't look for answers on this forum for such a complicated situation. You need a very good real estate attorney ASAP....
Toni Said:In Canada is the purchase of Life Insurance from your lender compulsory? (Not referring to CMHC Mortgage ins.)?We Answered:It's not compulsory, and they are by rights supposed to clearly indicate that on the paperwork.
You are correct that the insurance is a bad deal, it's some of the highest insurance going, and costs the same each month whether you pay down the debt or not, yet only pays the mortgage owing at time of death. Bad deal....
Colleen Said:Should I apply for a mortgage with my bank, my credit union, USAA, or lending tree.com?We Answered:seek out a mortgage professional in your area. Rates vary by company just a bit. They also post some days 3 times or more depending on market conditions.
I am a mortgage banker in TNKathryn Said:what do I do first for applying for an FHA loan do I have to get a Realtor first or a mortgage lender first.?We Answered:you need to talk to a lender thay perdy mutch will do every thing for you !!
a realtor is need to help you find...
Joanne Said:i have just bought a house and got a letter from my mortgage lender..?We Answered:Call them and check, but I think the point is they want you to send a check for the first month, and they'll use automatic deductions for months after that. Your first month is cheaper because it's only a partial month - you said you bought the house 4 days into the month? That's why it's lower.
I think you just mail that one check and they take care of it after that. But call and check with them.April Said:Wills and probate and solicitors?We Answered:As long...
Nellie Said:My fiance and I trying to buy a foreclosure. What are some lenders that offer mortgages for about $25,000?We Answered:Have you talked to your normal bank? They might do a personal loan instead of a mortgage loan.Audrey Said:Do you think Obama's moratorium on foreclosures will mean disaster for mortgage lenders?We Answered:He speaks only for the people who have shown good faith and one who are trying and only for the banks that have been bailed out
So...no will not mean disaster...for the bnks BUT will be disaster for people who just got pink slips all over the country....time to...
Sherri Said:Where are the low-income home mortgage lenders that actually make home loans to families with low incomes?We Answered:Hello
I am a broker. Do you make 2k a month? How much is the house that you are looking at? Do you have a down payment? or is the seller of the property willing to give you a seller held second on the property plus pay your closing costs. If you can answer these questions realistically, then i can help you acheive your dreams, the rate might not be favorable but your credit score might be higher than...
George Said:Who do you feel is mainly at fault for the sub-prime mortgage meltdown, lenders or home buyers?We Answered:Builders, lender and buyers. Even when there wasn't outright fraud.
Buyers for buying into the dream when they should have known better; the lenders and builders for thinking the housing boom was suddenly immune from normal business cycles.
I would never buy a house if my ability to pay was based on my not only having my current job for the next 10 years, but on getting significant raises as well.Lydia Said:Are there any mortgage lenders who will re-mortgage your home if you...
Constance Said:Are there any mortgage lenders/brokers you'd steer clear of in this RE market when considering buying a home?We Answered:Anyone that posts spam in here or emails you with a solicitation. This violates the Y!A TOU, and anyone willing to disregard the TOU is unethical. If they will break the rules here to get business, what else will they do?
I also recommend that you use local lenders, they have a stake in wanting you to be pleased with their service. What are the chances that you'll go back to some lender you found on the...
Anna Said:Can I pay in advance for mortgage insurance?We Answered:Of course. Everyone always smiles, and accepts it when you offer them money!Florence Said:In California why mortage lenders require fire insurance but not earthquake insurance?We Answered:California has lots of brush-fires when it gets hot, especially around San DiegoStanley Said:Is my mortgage insurance allowed to contact me?We Answered:if you don't make your payments EVERYONE is allowed to contact/call you and even sue you.
knock knock ... pay up !!Edward Said:Can a bank waive Mortgage Insurance for a borrower?We Answered:My experience is in the USA, but for here the mortgage insurance is charged by...
Elsie Said:Do you think mortgage lenders will start to lower their rates with the Bank of England base rate at almost 0!?We Answered:With the base rate at zero, there's a limit to the controls on inflation. Lenders will lower rates (which tends to increase money supply) if they feel confident that their lending will be secure, and if they can find no better way to invest capital. They'll raise the rates, on the other hand, if equities are a better play, or if they don't trust their borrowers. Whatever the case, the conditions are bound to change...
Kathleen Said:Is it a common practice for mortgage lenders to not call you back if they can not provide you service?We Answered:They do not want to waste their time with someone who does not meet the criteria. A friend of mine is waiting to hear back from a Mortgage lender who called almost 2 months ago.
Go with a mortgage broker who is likely to give you more personalized service and be brutally honest about your prospects.
I'll be frank - the mortgage business must be pretty slow right now because three other mortgage brokers have nothing else to do but...
Margie Said:How do mortgage companies make their money?We Answered:Lenders price individually using a procedure called hedging. Some lenders have a higher cost of doing business and so will hedge accordingly.
One thing to check though is to find out if the lender quoting you 6.5% has the same APR as the one quoting you 6.75%. If the APR is higher on the lower rate, there are extra costs in there someplace.
For a 30 year fixed rate today my rate sheet says that 6.75% is at par (no buying the rate down) with a 1% loan fee on...
Charlene Said:Does anyone know of a mortgage lender that will .......?We Answered:There are none despite some of the other asnwers you'll get recomending this, that and the other building society. If you run a buisiness from home you need a commercial mortgage which I believe is 1.5% above base rate.Nathaniel Said:What is an Residential Mortgage Credit Report? Please Read On...?We Answered:Residential Mortgage Credit Report (RMCR) is a supplemental report that provides details on four or more items that were flagged from an Instant Merge® report. RMCR is the most complete and comprehensive reports and include separate information going back two-to-seven...
Melinda Said:capital gaines taxes and no money will be made from the sale of our fathers home?We Answered:Whoever is the executor of your father's estate should be using an estate attorney to advise him/her on these matters. You won't get informed advice here. However, any taxes due on the estate's assets are paid for by the estate prior to final settlement. Heirs are not taxed directly....
Clayton Said:I have a Buy To Let mortgage on a fixed rate which is due to expire soon. Any suggestions?We Answered:Yes you can still remortgage on a buy to let mortgage.
Most buy to let mortgages, as the name suggests, are designed to look at the rental returns and not your salary. You can even get a buy to let mortgage without certification (self cert) though there are now less options available than a couple of years ago and the lending rates reflect this.
If you don't have a long term tenant, I would carefully consider whether you can make this work?...
Cathy Said:Where can i find a list of large mortgage companies?We Answered:I recommend www.bankrate.com. There's a ton of helpful information as well as payment calculators and charts (if you're into that sort of thing). Keep in mind that any posted rates you see online or in printed ads assume perfect credit, good income vs. debt ratios, etc. Since most buyers do not meet this criteria anymore, slightly higher rates than posted can usually be expected.Yvonne Said:how can I find a list of title and mortgage companies in my area of town houston, texas?We Answered:Here's a link to a...
Stacey Said:Need a list of mortagage lenders accepting Ameridream program.?We Answered:Any legitimate licensed professional should be able to locate all that is available to you. lenders that allow down payment assistance are numerous
this is a HUD program! email the link below they will give you what you needAnn Said:Can someone list the most important points to use to compare lenders for a mortgage?We Answered:The two most important factors are the interest rate and prepayment penalties. The interest rate will determine how much you'll actually pay for the loan, and a prepayment penalty will take a chunk out of...
Victor Said:I have a 1 year home mortgage plan ending in Feb 2009, 7.9 to 6.9 on a 398000 home in Cali should I refi now?We Answered:It would depend on the following:
1. How much is your pre-payment penalty?
2. Are you willing and able to verify your income and/or assets?
3. How are property prices holding up in your area?
4. How strong is your credit profile now?
Even more pressing are the recent modifications to the Loan Level Pricing Adjustments made by Fannie Mae and Freedie Mac. Basically these are premiums that lenders are forced to assess onto interest rates depending on how risky a loan is....
Dean Said:list of lenders no longer offering FFEL loans?We Answered:Finaid has a list of lenders who have dropped out of FFELP.
http://www.finaid.org/loans/lenderlayoff…Angela Said:Where to find a list of companies/ lenders that offer loans to people with bad credit?We Answered:hi
If you looking for a legitimate online loans in 1 Hour.once approved your loan will be transferred directly to your checking account promptly, and securely. Now you'll be able to use the cash for all your necessities.
http://fast-loan-usa.info
• 100% secure and processing
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Good luck!......Gertrude Said:Where can I find a list...
Dennis Said:where can I get a list of Mortgage brokers in san francisco, and the Peninsula ca?We Answered:Here's a couple of links. I used to work for one of the companies on the second: Greenpoint Mortgage. They have a lot of different programs, but not necessarily the least expensive...good luck....
http://www.insiderpages.com/s/CA/SanFran…
http://yellowpages.superpages.com/listin…Dennis Said:How can I find lists of mortgage brokers in need of quality refinance leads?We Answered:What I would do ? Search for some mortgage brokers web sites, visit them, and contact those who looks the some agressive in their sales strategies.
Hope it helps,Paul Said:Where can I get a...
Barry Said:annual report is saying I I have a mortgage?We Answered:That is a very common security question. There is usually 2 parts to this question. One is the company you have it with which you selected none of the above(in your case correct). The other will be the amount of the payment, which you also need to select none of the above, if by chance you did not select it or selected a different value it will not validate you.
Unfortunatly since it did not validate you will have to mail in your information. I would not...
Cynthia Said:does this mean it is a balloon mortgage?We Answered:No, a disclosure is just a disclosure. Nothing else. It is not a contract, not an offer and not a loan commitment. It is saying that if you agree to a loan through a private lender and it is a balloon mortgage, it can be less than 3 years. It does not mean you are applying for a balloon mortgage. The signature on that disclosure is just to say yes, the mortgage broker has follow state laws in telling you all these.Ross Said:How Can I get a satisfied judgment placed on...
Brian Said:High Mortgage Rate?We Answered:Purchase a mailing list.Troy Said:do I have legal recourse on mortgage broker getting .25% on back end?We Answered:If your APR is lower than your rate, you got a really good deal. Most times, the APR is higher than the rate. You should be thanking the broker, not thinking of a lawsuit.
If your broker only made 1.25% on a $130k loan, he/she is not one of the bad guys. That amount is barely enough to cover the costs of doing the loan. Where I work, it costs me $1900 to get...
Marion Said:which insurance company in Singapore offers the best mortgage loan insurance plan?We Answered:NTUC. Just call their hotlines. Don't get conned by those agents. Just buy the cheapest mortgage loan insurance, the rest are not necessary. You can always buy when your funds are settled.Miriam Said:Can mortgage insurance come off of an FHA loan?We Answered:Generally YES, but may require you to wait set time or to get professional appraisal
It's an extra expense, and one avoided by putting down 20%Paul Said:refinanced and put paid 3100 upfront mortgage insurance in the loan. Can i recover this after paying 20%?We Answered:NoPauline Said:FHA loan...
Jose Said:Which is better for VA loan, a mortgage broker or a mortgage lender?We Answered:You will hear many different opinions on this. Here's what I do know. Most of your larger lending institutions, Bank of America, Wells Fargo, HSBC, etc all have VA programs. Now you could try a smaller regional bank, I assume that they would have a VA program, but I'm not absolutely positive about that. You should be able to walk into any of the larger lenders and discuss their va programs. The typical turn time can be between 30 and 60 days....
Hugh Said:Who to talk to about mortgage loans for first time home buyer?We Answered:Here is a summary of my personal experience:
When I first considered getting a loan I went to my local bank. I was given some information about who to contact reguarding a home loan because they said most local banks don't deal with home loans any more just the larger mortage companies...especially if you are a first time buyer.
I think part of my problem is being rather young also because I went to a couple other banks after that and was basically told I probably didn't have...
Antonio Said:Should your mortgage lender be local?We Answered:Hi, I'd like to explain a bit about the mortgage business. There is a difference in the service you get at the time of application and at closing the loan, local is easier since you have someone there to help you vs. originating a loan on the phone or internet and mailing documents all over the place. So, local is better.
The ONLY kind of mortgage you can get from a lender that stays in the community is a short term balloon mortgage with an adjustable rate or one that is fixed for no...
Tracey Said:Why does everyone blame Bush for the failure of the financial industry?We Answered:George Bush has been in office for 7 1/2 years. The first six the economy was fine.
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars, taking cruises, vacations overseas, living large!
But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress and yes--we got 'CHANGE'...
Gwendolyn Said:How do I get a real low mortgage rate?We Answered:there are no 0% loans..
a flawless credit record can get you as low as about 3-7/8%...Georgia Said:Qaulifying for a low mortgage rate?We Answered:Your income is about half of what is considered for a mortgage loan. Your credit history is the other half. The better your credit rating, the lower the interest rate you'll be offered.Enrique Said:Is it possible to get a LOW rate mortgage for 4 years NO DOC with large cash assets?We Answered:Sorry can't be done. Currently we have a flat yield curve in the market so even...
Andrew Said:how can i take advantage of todays low mortgage rates???We Answered:You can't take advantage of today's low mortgage rates without a piece of property...The problem is that the mortgage is a secured loan that uses the property as collateral...That's why its interest rate is so much lower than personal/unsecured loans.Brett Said:How long will mortgage rates be low?We Answered:Mortgage rates are going to be low for a long time. The economy is falling apart and keeping interest rates low is one of the few things that the government can do to help the economy.
The Chairman of...
Dawn Said:Where can I find the lowest mortgage rate?We Answered:I know of a wholesale lender that gets pretty close to that on conventional loans as long as you have excellent credit and 90% or less on the loan to value.Elaine Said:What is the deal with those low mortgage rates? I have perfect credit and the lowest rate I could get was 5.5We Answered:if that is a fixed rate, you have done goodFloyd Said:What is the lowest mortgage rate in Colorado right now?We Answered:After looking at the all the major players and searching for the lowest rate the best i see...
Dustin Said:Why is Freddie Mac reporting the lowest mortgage rates since 1971?We Answered:Because Bernake is keeping the index rates and the short term rates artificially low.
Once those rates return to normal, the mortgage rates will go up as well.
Here's another little tid-bit. Inflation will go up too. Right now, inflation is in a single digit of 2.
Yet, the misery index is at 11.72 up from 7.42 under Bush.
Misery Index is Unemployment + Inflation.
The number is being driven by Unemployment almost exclusively.
If Bernanke raises his rates, the sure inflation spike will cause the Zer0bama administration to implode.
BTW, New home...
Erika Said:Amcapital loans ALERT!!!!!?We Answered:They also work under the web address www.amcapitalloans.com which has a physical address of 41 Marietta st nw in atlanta, ga. There is no such company in this building. DO NOT SEND THEM MONEY! No one should have to pay money to receive money. I just lost $1000 to them so I speak from hard learned experiance. I'm making it a priority to see them shut down. Post to every website you can find, call the AG off ice in you state and send a report to the BBB. None of the above can return your...
Veronica Said:Why hasn't the government jumped in to help people in foreclosure because of predatory lenders?We Answered:Yikes, here is the best I can do to alliviate the concern
Foreclosure requirement by HUD guaranteed loans: http://www.hudclips.org/sub_nonhud/cgi/n…
HUD consumer complaints: http://www.hud.gov/offices/hsg/sfh/res/r…
HUD Sample of Good Faith Estimate: http://www.hud.gov/offices/hsg/sfh/res/r…
HUD Real Estate Settlement Procedures Act: RESPA the entire statute
http://www.hud.gov/offices/hsg/sfh/res/r…
HUD Initiations of foreclosures, an explanation
http://www.hudclips.org/sub_nonhud/cgi/n…
Fixing your debt problems information from the US Government
http://www.ftc.gov/bcp/conline/pubs/cred…
National Home Recovery Program for foreclosures http://www.nhrp.com/
FTC: High Rate – High Fee Loans (know your rights): http://www.ftc.gov/bcp/conline/pubs/home…
Steps that can be taken to prevent foreclosures: http://www.consumerlaw.org/initiatives/s…
Dreams Foreclosed –...
Chester Said:A friend is looking for a loan for a Manufactured Home. He has Excellent Credit and needs options.?We Answered:I would think the dealer would have the best financing optionsCynthia Said:Can my husband and I borrow against our IRA to finance a modular home for retirement?We Answered:You can use the cash from your IRA (up to a certain amount) to purchase a home (not an investment property, but a home that you intend to live in) without penalty.
Speak with your broker about it.
EDIT: well heres an article and apparently some IRA allow you to even buy investment property.
http://www.realtor.org/rmomag.nsf/pages/…Bertha Said:Manufactured...
Jessica Said:First time homebuyer... I need help/real estate lawyer? Big problem with lender from J.P. Morgan Chase?We Answered:I sold a property in San Diego several years ago and had a pre-approval letter from the buyers lender. Like you, in the last few days the lender pulled out because the buyer couldn't verify income.
I sued the Realtor and the mortgage broker that represented the buyer in small claims court because of their written statements about the buyers ability to purchase my property. I ended up winning about $3500, my costs while the property was tied...
Raul Said:I think a Maryland mortgage lender broke confidentiality and violated my privacy.?We Answered:"So I told the lender all my income information and how much money I had in the bank etc."
There is something about your question that makes me think you are overreacting. If you meet with the guy and give him your information, that isn't preliminary. And unless he ran your credit without your signature authorization, you don't exactly have a very solid complaint.
I think that both the agent and the lender presumed you were working with that agent, and for that time period, you were, because...
Kirk Said:Can anyone recommend a specific mortgage lender?We Answered:I would go through a mortgage broker. They approve you and then they sell your contract to a service provider. If the rates get better they will inform you of that and transfer service for you.
Also, credit unions have good rates, check there.
Check Union National Mortgage. I am not sure if they are regional or national but they are really helpful.Travis Said:Statue of limitations and small claim court?We Answered:The statute of limitations for a qui tam action is found in Title 31, Section 3731(b) of the United States Code.
“A civil...
Ken Said:I would like to know about getting a Loan Modification with a company out of state or deal with my mortgage co?We Answered:I have not heard of a single legitimate loan modification company. Not one.
You should just deal with your company yourself. I started my second one for a relative last week, the bank was calling me within 72 hours of me mailing my stuff off to them. I expect we will have a deal within 2 weeks of starting.
You will never hear from that other company. Kiss your money good-bye...
Rosa Said:Who can I contact to help me avoid foreclosure in Michigan?We Answered:I am not sure what county you are in, but contact a local non-profit housing agency. They can work with your lender to help you get a modification or forebearance. I work for Northern Homes CDC in Charlevoix county. If you contact MSHDA at 866.946.7432 they can put you in contact with someone in your community who can possibly help. Remember, do not pay for these services! They should always be free.Tracey Said:Deed in Lieu of Foreclosure in Michigan?We Answered:The agreement you signed to allow the attempt to...
Hector Said:Is there a MORTGAGE EXPERT out there????We Answered:Approach that with some care. It could work, but it could also leave you owing more on a house than it is worth, which is a bad thing for both you and a lender: for the lender, because the loan security is impaired, and for you because if you have to sell for some reason you will have to pay the bank the shortfall between the house price and the loan amount. Also, such a loan may well carry a higher interest rate than one with better security. Talk...
Keith Said:Need answers fast!!!?We Answered:do you not have a down payment? If not I would not suggest buying a house. If you have that many bills why do you need another one... I would suggest selling the cars and buying used ones that you can pay cash for and getting rid of the car payments......
Marcus Said:Foreclosure / Deed in Lieu laws in Missouri What will the process be like???We Answered:Keep in mind that a short sale and a deed in lieu are two totally different approaches to avoiding foreclosure. I will do my best to explain both sides in some depth.
With a deed in lieu, whether in a state that allows deficiency or not, a lender WILL NOT pursue deficiency. That is the upside to a deed in lieu. However, you will have a "voluntary foreclosure" on your credit report. This can keep you from purchasing a...
Adam Said:Denied first time home buyer tax credit because an old lender was still reporting mortgage interest. What can?We Answered:Mortgage interest doesn't matter. All that matters if your name was on a title in previous 3 years....
Leonard Said:Who Will Refinance My Mobile Home And Land?We Answered:People do that here in Oregon all the time, finance land and a manufactured home together (they're not called mobile homes any more). Most lenders operate nation wide too. As long as it's on a permanent foundation it's not a problem but if it's set up with blocks and skirting, no way, because then it's considered personal property, not real property. Shopping around at some mortgage companies should find you what you want.Anthony Said:Where can I get a first time home loan with very bad credit and little to no money...
Naomi Said:Bank rates when down, how long should I wait b4 checking on refi a mortgage. Should I check right away?We Answered:If you like the current loan, by all means call the bank you currently have a loan with. There are many different places to check out current rates for mortgages Just be careful and look at the points the lenders charge for those rates. You might think a lender has a good rate, but it is because you will be paying a lot up front for that rate. It pays to shop around. Good luck.Tony...
Miguel Said:Do you trust the The British Bankers' Association ?We Answered:lol. No.Did they tell u that Northern Rock were going to run into difficulties, no they didn't so what the hell do they know or care.
Listen up, they aint Mummy or Daddy.Edgar Said:Which one of these sentences is grammatically correct and why? ?We Answered:It is the first one.
You can tell this by takinkg the subject of the verb tense (homeowners) and seeing which one sounds correct.
Homeowners were....
Homeowners was....
Since homeowners is plural, the choice is "were"
Hope that helps!Brett Said:WHO SAID HYPERINFLATION IS NOT COMING?We Answered:We're seeing an...
Jose Said:In Ontario, Canada how much does a Mortgage broker get on average in fees from the lending institution?We Answered:If you work as a mortgage broker for an independent company you can make .5% of the loan amount. For a short time this was as high as 1.75% but it has fallen since 2006.
If you work for the big institutional banks, you will begin in their Phone Centers. You will get a salary instead of a commission. That is because the phone calls are all generated by the bank; not by your personal efforts. Most of those callers want...
Walter Said:Can I move a construction loan from a mortgage broker to another lender?We Answered:Yes, you could refinance the whole deal with another lender. There are lenders that only deal with construction loans. You just need to find one in your area....
Bessie Said:How can I find out what lenders a mortgage broker uses without asking that broker?We Answered:You could not know unless you knew the names of previous customers. Then you could look up those names at the County Recorders Office and see the lender's names on their mortgages. You could also ask competing brokers who they think your broker is using. They might know..William Said:Can we ask the mortgage broker/lender to stick what there GFE at the closing ?We Answered:No..the GFE is just that..an estimate - those numbers fluctuate right up until closing and in most cases, the broker is...
Roger Said:What are the comissions charged by mortgage brokers? Lender or Borrower pays them?We Answered:The paperwork CLAIMS the lender pays the brokers. In reality, the borrower ALWAYS pays all parties involved....
Vincent Said:Is it difficult to get a mortgage for a condo as the first buyer into the building who has to setup the assoc?We Answered:It shouldn't be a big issue - especially because there are only 3 units involved. You would be wise to contact a local real estate attorney and have him/her help you draw up the condo association CC&R's according to Illinois law.
A good website is:
http://www.ehow.com/how_2050262_set-up-h…Sharon Said:What do you think ? Do you see any violation?We Answered:If he charged you a fee, he's guilty of misfeasance, a crime. Possibly you could prove fraud. Did you...
Sherry Said:Can I move to Australia?We Answered:Get a working visa first and then when you are over there try to apply for immigration. Get someone to sponser youwhen your over there. Now that the Labour Government are in power they are more lenient with immigration so now is the best time to give it a go.iLois Said:Prove you can save for 3 months in order to get Home Loan?We Answered:Most lenders require you to have at least 3 to 5 percent deposit to put towards your home. Apart from government grants your deposit will either come from your savings, the...
Dora Said:what questions to ask mortgages brokers/Lenders?We Answered:My advice is that you can probably get the same loan and same deal locally. Then if there is a difficulty it is easier to drive down there and meet face to face, pointing at the same paper, and work things out.
I have had several problems where out of town loan officers have avoided emails and phone calls and left me wondering what the heck is going on.
Buying a house is stressful enough without the loan process being a huge unknown.
I always suggest you ask several friends that have bought houses recently...
Joan Said:Java Mortgage calculator help.?We Answered:import java.util.Scanner;
class MortgageCalculator2 {
public MortgageCalculator2() {
intro();
}
public void mess(String s) {
System.out.printf("%s%n", s);
}
public void messIn(String s) {
System.out.printf("%s > ", s);
}
public void intro() {
Scanner sc = new Scanner(System.in);
boolean run = true;
...
Vivian Said:Rent VS Buy --How do those Mortgage companies work?We Answered:I am a Realtor Honestly, you should probably get with a Realtor and tell him what you are looking for. I say this because an area specialist will help you in purchasing the property. Rather than paying $10,000.00 over the price, the Realtor should know better and lead you in a way that you get the most for your money. Now every Realtor is not honest so see if there is someone that you trust. If they have used a Realtor and they recommend them, go...
Billie Said:can i pay my mortgage online the last day of the month and have it not considered late?We Answered:if you pay online won't the money deduct from your account immediately or the next business day which would be Monday
just according when your payment is due though
a few days late will not be reported as a late payment...
Norman Said:Why Isn't My Mortgage Company Listing to me...Help?We Answered:"What you want is a deed in lieu of foreclosure. It's totally up to the bank to decide if they want to give it to you or not.
Just to check, you do realize that you purchased a property and not rented one right? A mortgage company isn't a landlord that you can give 30 days notice that you are moving to. You are on the hook for whatever amount of money you signed mortgage papers for.Edward Said:Can a mortgage company blackball a seller by placing him...
Mary Said:What mortgage company gives the best rates?We Answered:It is a mistake to just compare interest rates.
Obtain a truth in lending good faith estimate on closing costs, comparing these can save you thousands.
Ask about pre-payment penalties, this varies widely by lender.
What happens if you are a few days late on a payment? Some lenders charge a huge late fee even if you are a few days late.
Good luck!Colleen Said:What mortgage company gives the best interest rates to someone after bankruptcy?We Answered:if your bankruptcy is recent, I doubt you will find an affordable rate... which is...
Erika Said:How long will it take a typical Mortgage Company to review and decide upon my applicaton? (first time buyer)i?We Answered:Anywhere from a week to 10 days depending on the company. I do hope you submitted it to more than one company. I never just bank on one, I shop all the time for mortgages and I find that there are so many deals out there. At least apply with 3 and possible 5. Some have better rates than others.
I remember my first buying experience, no one told us what to expect. Ask your realtor...
Christopher Said:Is there a website where you can learn about mortgage lending?We Answered:I believe the National Association of Mortgage Banking has some great info.Harry Said:selling my house and transferring a mortgage to the new owner?We Answered:Mobile homes don't usually have mortgages unless the land they are resting on is part of the deal and since VMF appears to specialize in modular homes combined with land, that appears to be the case. Often mortgages can can be assumed (or transferred) and is actually a very common procedure in selling houses because it lessens the loan fees for the buyer by...
Leona Said:Does anyone know what direct lender use only "experian" credit score to refinance on mortgage?We Answered:None of them only use Experian. They all pull a tri-merged credit report. They all use the middle score. You won't find one that just uses Experian.Frances Said:any1 here is a mortgage specialist for a bank or a direct lender?We Answered:You should look for some quotes from a broker that can access the rates from multiple banks, like at www.bestmortgageanswers.info
The important thing to remember is that you can bring these quotes to your local bank, and they will match them.Janet Said:Seeking a recommendation...
Bonnie Said:which direct lenders will still lend to investors who own more than 4 properties?We Answered:i don't know, but if you do own more than 4 properties, then how do you fill out the tax form cause there is no more space...
Debra Said:What if i don"t pay my Equity loan payment?Can they take my house?I still have a mortgage with another lender.?We Answered:You're in a pickle, for sure. If you borrowed against your home equity, that lender certainly can take your house - and then the holder of your primary mortgage can sue you because you no longer own the collateral on THAT loan - the house! You'd best retain an attorney right away - or you'll not only be out on the street, but up that famous creek without no paddle! You cannot afford NOT to...
Teresa Said:Will the UK mortgage market achieve positive growth in 2008?We Answered:It may, closer to 3rd Quarter or the end of the year, but I expect we'll see more write-offs first during Q1 and Q2. Pound may well follow the Dollar's slide first part of 2008 due to this.Marshall Said:Getting a mortgage (UK)?We Answered:If I understand you correctly, you are asking your father to co-sign your loan. There is a better and more tax efficient way to do this; get your parents to mortgage their house, loan you the money and then buy the house you want...
Renee Said:how much is mortgage insurance?We Answered:PMI is there to cover a lender in case of a foreclosure (and for other reasons). You have all of you facts correct. To get rid of it you need to prove 20% equity in the property based upon the original purchase price. Homes appreciate, you do improvements, you make extra payments - there are various way to get rid of it. By federal law your lender must cancel it when you reach 78% loan-to-value however you can cancel it yourself at 80% LTV if you have a solid payment...
Tracy Said:How long do you have to pay Mortgage insurance on FHA loans?We Answered:you can check Ah LongMisty Said:How is mortgage hazard insurance calculated? Rate in Houston, TX?We Answered:Your mortgage hazard insurance is based on alot of different factors. Your zipcode, claims history, price per square foot, etc. Here is a piece of advice and that is don't take your mortgage companies quote they provide for you because they sometimes receive kickbacks from they insurance companies. If you want to see who is going to get competitive for your insurance then you should compare. If you just google auto insurance,...
Rhonda Said:I heard that Federal lowered mortgage interest rate by 0.5% who are qualified for this benefit?We Answered:It is not true.
Mortgage interest rates are determined on the open market and not fixed by any agency.
The Fed lowered the funds rate by .5%. That is an interest charged by one bank to another and has some effect on other rates because the cost of funds to the banks are cheaper. But the effect on long term loans like housing loans would be very limited.
It may help the economy maintain some strength and help job growth. But the federal...
Brittany Said:How to check as what banks are giving good mortgage interest rates ?We Answered:There are a few ways to check -
First Bankrate.com allows you to search based on interest rates and will list from lowest to highest if you want. Also, fill out the form at lendingtree.com and you should get up to four banks you can negotiate with.
A good mortgage broker can shop around for you and get the best rate going for your financial situation (remember that brokers make money off commission, so it is not always in their own best interests to get you...
Janet Said:Since wall street got "bailed out", is it any surprise that DIDN'T LEARN ANYTHING AT ALL?We Answered:MR. ROTHSCHILD'S ENERGY DISCOVERY
What Mr. Rothschild had discovered was the basic principle of power, influence, and control over people as applied to economics. That principle is "when you assume the appearance of power, people soon give it to you."
Mr. Rothschild had discovered that currency or deposit loan accounts had the required appearance of power that could be used to induce people (inductance, with people corresponding to a magnetic field) into surrendering their real wealth in exchange for a promise of greater wealth (instead...
Derek Said:Can I get a mortgage with bad credit rating and 2 months self employment?We Answered:I would say no, especially the way the economy is going.Esther Said:how do u refiance a mortgage with a high interest rate with bad credit?We Answered:More than likely you are not going to get another loan unless you can convince the company you have your loan with now to refi you, no new company is going to take that risk and your ownly hope is to convince your loan company that you cant afford the payments and they need to refi you or you...
Gladys Said:Why would a mortgage lender (bank) decide not to foreclose and charge-off a property instead?We Answered:She signed a deed in lieu of foreclosure. It's better for her in the long-run.Richard Said:Can a mortgage lender,ask your bank for details of your earnings ?We Answered:They cannot ask without your written permission. Whether they accept your word or not is entirely up to them.Virginia Said:What happens to your mortgage if the lender/bank goes bust?We Answered:It get's sold on to another lending institution. It doesn't go away. Unfortunately!Deanna Said:Is it better to use a bank or mortgage lender when applying for a...
Phyllis Said:Mortgage Lender filing for bankruptcy?We Answered:It won't affect your mortgage payments. This is how it works. If the mortgage lender files bankrupcy everyone gets fired except for a hand full of people that can service the loans while the CEO is busy finding another company to take over the loans. Worst case scenario, someone buys you loan and you send your check to a different place every month.Bryan Said:Does anyone know of a mortgage lender that will buy out a bankruptcy and/or foreclosure?We Answered:Yes, you should be able to refinance this person with an active foreclosure...
Dennis Said:Mortgage Lender or Mortgage Broker?We Answered:Disclaimer: I am a mortgage broker / planner so I see this from my point of view.
But here's the main difference between a Mortgage Broker and a Mortgage Banker (lender).
A Mortgage Banker works for a single lender, and only has a set number of programs and options to offer you, and are captive to their own products.
A Mortgage Broker often works with 100's of lenders, including wholesale lenders (who often don't deal directly with the public consumer), and have a very wide range of product and lending options available to them.
Also, if you walk...
Bonnie Said:Can I get a mortgage for $11,000?We Answered:There was a great point made. What kind of property is this? If it's a trailer, you may have difficulty getting a mortgage, some lenders do not lend on trailers. I would pursue either a personal loan or a home equity. I'm not a huge fan of home equity but it could make sense here with a line of credit. Lender do offer purchase lines of credit, but your credit better be sterling. I would shop around to see who can do what, look up the...
Charlie Said:In California, after foreclosure, are you still responsible for your second mortgage?We Answered:Yes, you are fully responsible for the second, third, etc. You only owe state income tax on the first if you never refinanced it. Mark Said:Must I complete a "Verification of Rent/Mortgage" a lender sent regarding one of my apartment tenants.We Answered:you are within your rights as the landlord/owner to NOT sign it until the rent is paid. if you wish to resolve this matter quickly, simply tell your tenant either pay the rent he owes or you will write down on the...
Teresa Said:I have purchased a home with fha mortgage and I want a 203k to modernize the home?We Answered:The comparable can be found by your realtor or appraiser.
The 203K will require a subject to appraisal which simply states an opinion of value as if the repairs/improvements have already been made. It sounds like you need to find comps in your area that have sold in the last 90 days that will justify the higher value of your home....
Jennie Said:Hi, i am going to sign a commercial loan contract approval, any advice is helpful?We Answered:don't do it. there are plenty of loan companies that will give you a better deal with out a down payment i use wells fargo and they have always been good to me and the interest is low. check it out before you end up in troubleRoland Said:Low APR Rate Home Mortgage Lender?We Answered:OH heavens, I wouldn't get a mortgage from Cash Call. LOL They are a payday lender, and I highly doubt they are going to save you much money on fees....
Suzanne Said:Will mortgage companies come after the lender in the event of a foreclosure?We Answered:Your question is confusing.
Let's get the players straight.
The mortgage company is the lender. If you borrow $100,000 to buy a house, you're borrowing from the lender. That's the mortgage company. For example: Washington Mutual or Countrywide. They lend/lent money.
The person who receives the money is the borrower. If the borrower fails to repay the mortgage, then the mortgage company forecloses on the borrower.
And, yes, in the event of a foreclosure, the lender/mortgage company comes after the borrower.
The only way you could foreclose on properties is if...
Linda Said:Anyone have any experience re: their mortgage lender selling their mortgage to another company?We Answered:Making sure property taxes are paid is the responsibility of the owner of the property no matter if there is an escrow or not. I'd try contacting the customer service manager for the new note holder, explaining that the lapse was a result of the unapproved escrow agreement change, and ask them to work with you on it. If the situation is as described (depending on the state you reside in) you should be able to come to some sort of compromise agreement.Danny Said:Is it...
Lonnie Said:can i sue mortgage lender for fraud??We Answered:The first things I would do is contact your attorney general's office and see if there have been any complaints on the people you originally worked with like the builders, appraisal company, and I'm assuming it was a mortgage broker but it might have been the lender also. The attorney general's office will also be very helpful on recommending what to do and they may even investigate it or may know of a class action suit to join in on.
Unfortunately, you are not the only one this happens...
Thelma Said:Who do Icontact to file a complaint against a mortgage company and builder?We Answered:Contact the Better Business Bureau...
They will act as a third party on your behalf...Trust me you'll get it resolved!Anthony Said:If i want to file a complaint against my mortgage company who do I complain to in England?We Answered:Fixed means that is what you pay regardless of how high or low the rate changes. To change it you would need to re-finance. A variable rate is bad since if interest goes very high, you will be paying the higher rate.Ronnie Said:Why is the lender and...
Beatrice Said:How is Florida real estate getting better?We Answered:Wow, you should be a writer!! lol The way you typed this; your wording, ect is great!
Yes I do agree that here in FL it is very hard to obtain a loan & have all other requirements met as well. But the truth is...if you search hard enough & have a great real estate agent you will be able to find a good home that will except FHA loan & meet all the requirements. (I am going through the same thing right now in FL as well.) What part of FL...
Christopher Said:What other fees are included in a mortgage APR?We Answered:The APR is supposed to be an accurate method of calculating the cost of borrowing including all fess and should include the following:
1. Discount Points
2. Origination Points
3. Pre-paid interest
4. Loan Processing fee
5. Underwriting fee
6. PMI
7. Application fees
These fees can often be hidden and its important you discuss tem...
Bernard Said:I live in Florida, I am a mortgage broker. I need new investors who will allowance sales incentives.?We Answered:None. Those guidelines come straight from the agencies.
Sounds just like every new realtor that tries to get their client a $2000 carpet allowance. Don't know why they still teach that nonsense in real estate classes, but they do it.
Assuming that $20K is meant to buy furnishings (personal property), not actual items for the structure of the home, there's just no way to do it. If it were to go towards upgrades of appliances, finishes, etc..., they'd...
Geraldine Said:FHA Lender with Bad Credit?We Answered:credit-report-score.10001mb.com - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate....
Victor Said:Do you agree that the credit score system is very flawed?We Answered:i am against credit score system being used for employment purposes. Using credit for employment means tying your credit to your personal character. This just shows society believes "credit is your character". NOT...
Maxine Said:Obtaining a mortgage with poor credit?We Answered:No matter how small the mortgage lender is, they are not likely to go out on a limb for someone who is "trustworthy". That's what caused the housing crisis in the first place.
These days, your credit has to speak for you and it has to speak well. 650 is almost the bottom of the barrel of credit scores that banks will take for mortgages. Anything else, and you're looking at high interest rates.
As far as them re-writing the loan for you, you would have to consider your state laws. Your husband...
Barbara Said:I want to ask my mortgage lender for a home loan - need some advice please?We Answered:Hi
I saw your question I have decided to help people out due to the fact that I myself has been scammed twice by fake lenders in my search for a loan but at last I got a reliable lender that gave me the loan($60,000 USD) that I was in dire need of even with a bad credit. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can...
Todd Said:upsidedown mortgage in california, need to refi--foreclosure the only option?We Answered:What an awful loan program. I would keep pressuring your lender. Threaten to go to the attorney general and to the media if they do not work to help you out of your predatory loan. You would be surprised what they are able to do in terms of calling in favors.
Call your lender. Tell them that you fully intend to go into foreclosure without them getting another penny if they cannot help you out. The only way you are going to get...
Kimberly Said:My wife bought a house with her credit while we were married. I am on the deed but not on the mortgage.?We Answered:Sounds like that mortgage showed up on your credit report. Don't know why that would happen if you're not on the mortgage.
But if she defaults, you're not getting the house until that mortgage is settled.
If you're not together anymore (you said were married) shouldn't the divorce paperwork state she got the home? If it does, you should be OK. Usually the divorce paperwork showing it's not your home anymore is enough for lenders to...
Kay Said:Can a mortgage lender pursue an owner that is not on mortgage for a deficiency balance?We Answered:The answer is NO. A mortgage is a "contract" stating that in the event you do not pay the debt, the collateral (the real estate) will be seized by the lender. You were not a party to this contract.
A Deed (normally a Warranty Deed) is a legal document showing ownership. It does not obligate you to any debt.
You were most likely put on Title after the mortgage was already placed on the property. By not signing the mortgage "contract"...
Scott Said:which lenders are currently giving mortgages to foreigners?We Answered:Were you disapproved for lack of items needed to complete a mortgage loan application. It is illegal for a bank or other public institution to be bias against anyone because of race, age or other RESPA related bias laws.
You should contact a local mortgage broker who will take a mortgage loan application from you to refinance your property. There are things he/she will need such as proof of income, a credit report with credit scores. You would be able to find a local mortgage in your telephone book or you might...
Sonia Said:Is there a mortgage lender in Kansas City who will write a loan uner 20k?We Answered:It depends on:
what your going to do with them
How many
what there worth.
www.webuyuglyhouses.com...
Jerry Said:How do you get a mortgage lender license in Minnesota?We Answered:go to thomas-law.com. They list all the states licensing requirements.Linda Said:Should creditor/lender need license to place lien in other state?We Answered:A lender may need a license to make loans, but placing a lien is not making a loan. Courts routinely recognize the judgments issued by other states. If that doesn't apply, they can file a second suit (making you responsible for more court costs.)Kent Said:How to get my mortgage licence?We Answered:I wanted to know this too. I asked the same question earlier but I didn't...
Hilda Said:Trying to find a mortgage lender?We Answered:I found myself in the exact same position a while ago. Once i turned to the internet, i was rather surprised to what i found ! Whether you have bad credit or not, there are thousands of mortgage lenders as well as second mortgages lenders out there specializing in all mortgages for all types of people with all types of credit. I have used second-mortgages.yolasite with my quest. Very resourceful and helpful. Good luckMarian Said:Where can I find a list of mortgage companies the FBI is looking into???We Answered:FBI.gov...
Lucy Said:Does anyone know of any lender who can help me get started with my wish to become a MTG Loan Originator?We Answered:Yoy might want to get in touch with a local real estate agent or company and see who they would recommend. They usually know what their prefered lenders are doing. Also watch the paper and monster.com
Good LucK!Nancy Said:Other than the kids & the Grandmother do you feel sorry at all for the 14 kid mom for the latest mess she->?We Answered:Those children should be removed from that stupid horrible 'mother'. I feel sorry for her parents but perhaps...
Audrey Said:What happens when you mortgage lender says the property you are buying is worth what the seller is selling it?We Answered:Get the seller to reduce!! Its not worth what the developler wants for it. The housing market we're in at the moment is a falling market. In six months time the house won't be worth £235,000 - I can guarentee it will be less.
There is nothing you can legally do but I would talk to the developer and TELL him to reduce if he won't then honestly? Walk away - its not worth £247,000. Valuers research the area...
Claudia Said:The Lender gave me a 1099 after they reposed my house, does it mean I own it free and clear?We Answered:Well what's fair?
You bought a house and agreed, promised lender to pay the mortgage
You didn't fulfill your promises to lender, you breached your agreement
Lender foreclosed on home (homes aren't repossessed) and took property
If they can sell it for the mortgage they gave you they'll be very happy, but in Michigan it's unlikely. . . .IF they sold it for a profit, they will cover their huge costs in foreclosing against you, maintaining home until sale, and pay you anything...
Tim Said:My wife puchased a home before we were married in Minnesota and only her name is on the loan and title.?We Answered:Because you are legally married the impact is to both of you regardless of who is on the title/mortgage. The lender can file a 1099 to the IRS for balance, or forgive this loan, once they have the house back. The 2nd loan however, with another lender may not be forgiven, as they nothing secured to recover and sell like the house. So on that loan as long as you stay current, you're fine. But if...
Leonard Said:What shall I do about my business?We Answered:Being a good business owner and operator is knowing when to quit. Just like a star athlete who's body cannot take another season.'
Hanging on for emotional reasons up until this point is quite understandable. But, it is time to let go. Know that there are many hundreds of thousands and perhaps even millions of companies like yours that have fallen victim to this horrible economy. So, it is nothing you did or did not do to cause the decline in your business. But, you already realize that....
Ruben Said:Can anyone give me feedback on personal experiences with American Interbanc Mortgage?We Answered:Just because someone "offers" a low rate online doesn't mean you'll get it. That's kind of like believing what you hear the media say about interest rates. I don't care what anyone says, rates are not in the 4's. Well, they're not in the 4's unless you pay up front to buy your rate down. Most likely, you'll end up with something closer from 5.25% - 5.5% for a 30-yr fixed conventional, FHA, or VA Loan.
Remember, you can't lock into a rate until...
Alma Said:How does a joint mortgage application work when the two parties have very different credit scores?We Answered:Hello Every One,
I am Brittany David by name, I live in Gege Shiselweni Swizerland , just a few weeks ago I was in
search for a loan of 50,000 Pounds, as i was running out of money for
feeding and my bills. I was scammed about 3,000 Pounds and I decided not to
involve my self in such business again finally A Friend
of my introduced me to a loan firm due to my appearance and doings. I made a
trial and I...
Nancy Said:If I assume a mortgage will the lender change the interest rate?We Answered:Are you sure her loan can be assumed?
With most mortgages these days you have to qualify to assume it if it is assumable.
The lender typically has the right to change the rate to the prevailing rate now if someone else assumes that loan.
You need to talk with the lender and see what they say.Alan Said:What is the highest interest rate a lender can charge with a mortgage?We Answered:Back in September of 1981 rates were 15.38% (looked it up)
Those were the highest rates for people with...
Clyde Said:Once I "lock in" a mortgage rate with one lender, can I still shop rates and lock in with another lender also?We Answered:Absolutely not. I'm a loan officer and I lock rates all the time. During the contract negotiations to buy the property I continue to shop rates for my clients. If a better one is available I will take them with the lower interest rate and just let the other one expire. If your bank is telling you that you don't have options show them you do by walking. Contact a reputable mortgage...
Bobby Said:Can i get a better mortgage rate with my existing lender without all the additional fees?We Answered:Every refinance involves some fees but the lower interest rate offset that. You will not know until you ask.Louis Said:How do you know that your mortgage lender is giving you the right rate quote?We Answered:there are legal opligations that mortage lenders are prone to, so thearetically you should be able to trust them. But this doesn't mean that it doesn't happen. Here are some ways to judge:
1.Often, if a deal is too good to be true, it is.
2. ALWAYS make sure you have...
Alex Said:Do companies really lose money when you don't pay on time but incur their over due charges?We Answered:The value of the late fee is designed purely to encourage people to pay on time. It also protects companies against having to draw money out of their cash flow to cover the expenses your paymet was supposed to cover. The companies that fund mortgages owe their investors dividends and such that may be paid out quarterly. If you're missing your payments then they will need to draw from their cash reserves to pick up the slack.Catherine Said:Why Do...
John Said:Anyone know of a mortgage lender who will refinance with poor credit at a decent interest rate for a new startWe Answered:Try E-LOAN, Quicken Loans, and Choice Finance.Ellen Said:Should a mortgage lender be held responsible when a past due homeowner commits suicide?We Answered:I'm very sorry to hear about your friend's suicide. This is a very sad story.
It sounds like the lender was horrible.
I think you would have a hard time finding a lawyer to take the case. My experience is that lawyers only want to take case that they know they will win....
Rick Said:Whats a good site to compare Mortgage Lenders?We Answered:My advice to you, is to find a mortgage broker that you can trust. They can do that work for you and really compare more lenders than you ever could alone. You can also shop broker's the way you would banks, which means that each one will be looking to get you the best deal. An easy way to do that is to go to a place like lending tree or nextag, you will have more offers than you can count within a day. I hope that helped.Irma Said:Has anyone used...
Claude Said:Am I getting ripped off from my mortgage lender (countrywide), they locked in a rate without my permission?We Answered:First thing..... your rate and loan term is really "locked in" the day you sign loan documents. That is when it becomes legal and the deal. Until then, everything is just "an estimate", hence the title "GOOD FAITH ESTIMATE".
Now asking is it right that they change the terms that they promised you before signing and at signing? That is an ethical question more than it is a legal question since nothing is guaranteed until you sign in...
Rafael Said:Is it possible to write a program that will prepopulate a text boxes in a webpage.....?We Answered:Both Firefox and Internet Explorer have the Autocomplete function which will remember user names and passwords for Web forms.
http://www.microsoft.com/windows/ie/ie6/…Myrtle Said:After my divorce, what is the best way to file my federal taxes? I divorced in June 2008, but didn't move out?We Answered:It's impossible to file jointly with him as head of household. If you filed jointly for 2008 and were divorced in June 2008, you filed a fraudulent return. If you filed as single and he filed as head of household...
Geraldine Said:I have a home equity loan. In Texas, the 2 parties must agree on a fair market value. If not, is my loan null?We Answered:Howdy. I live in Texas and have had a few real estate dealings. It sounds to me like you don't have much of a case. If you signed the FMV form, that's all that necessary, since the lender usually fills the thing out and submits it to you for approval. The lender's signing is an implied agreement, given that they provided the value figures on the form. Remember, lots of things in the Texas Constitution...
Kathleen Said:Start-up mortgage brokerage bus. desiring to apply to multiple lenders at once. Any suggestions or websites?We Answered:hi mr ross
you can go to http://www.lendingtree.com
:>peaceSherri Said:First Time Mortgage in NSW?We Answered:I work for a bank that competes for business in 48 states through Lending Tree. Be careful it is very easy to get taken advantage of in this industry.
For example I never charge points, origination, or other hidden fees. It is easy to bury them in the fine print.
It really depends on your credit. I would be happy to quote you a rate at no cost. Do not let...
Marcus Said:Are any mortgage lenders still offering 100% financing?We Answered:If you find one, let me know, but I think you won't find this anymore. I know Wells Fargo offers like 90% financing plus a heloc. This may come to 10% financing but I haven't tried this and not sure (maybe its like 80% plus a 10% heloc or something - and undoubtedly you have to have really excellent credit to get it).Ryan Said:When do you think the mortgage lenders will return to 100% ?We Answered:I can't see them ever returning to the insane lending that we have witnessed...
Darryl Said:Can i get a mortgage after I have been discharged from my bankruptcy?We Answered:Yes you could, but you'll need a big deposit if you want one anytime soon. You can rebuild your credit rating over the next few years but you will be looking at a sub prime lender.Brad Said:Does anybody know who will finance me a for a mortgage loan after bankruptcy?We Answered:You have to really check the local telephone book, read many adds in the local newspapers and call many mortgage brokers/bankers. Looking in the local newspaper you would be looking for ads that read
These...
Jacob Said:Is a person required to provide a copy of his homeowner's policy to the lender?We Answered:No, but a copy of the insurance binder in an amount sufficient to replace the dwelling in case of a loss is required prior to closing.Jesus Said:Arizona Foreclosure scenario: the customer/homeowner has his mortgage payment taken out every month and?We Answered:Why would a lender be responsible for tracking any payment, it's the mortgagors responsibility to send in the payment and just because the mortgage and the bank account are with the same institution, it does not mean they work in conjunction with each other....
Pearl Said:If I choose a 7 or 10 year ARM am I paying the same towards equity as a 15 or 30 yr fixed mortgage?We Answered:Unless you have the money invested and are earning more than interest would be it doesnt' make sense. Interest is low, especially on a 10 year probably low 4% maybe maybe high 3%. If the money is earning mroe than that do a morggage, if you have it sitting in a bank account just pay off the house.
If you need to look into financing hceck out loanhomonline.com/findamortgage. Thats how I got my loan.Wesley Said:I'm 33...
Milton Said:can i get a mortgage with bad credit rating?We Answered:you always shop around no matter what your credit is like!!!...
Kim Said:Mortgage Lenders?We Answered:No, you have nothing to worry about. Your mortgage may be sold or taken over by someone else, but the terms of the loan cannot change.
When you see lenders filing for BK protection, it is mainly the lending side that is in trouble, not the loan servicing side, although they're often lumped together....
Rhonda Said:best mortgage lenders?We Answered:Hi Suzanne,
There are a number of quality lenders out there. Make sure to read online reviews and ask family and friends who they have gone with. Going with a lender you can trust is a better bet than just a company that gives you the best deal.
Check out Quicken Loans when you have the chance. We can close your loan in half the time of most other lenders and are the nation’s #1 online lender. We’ve helped almost a million clients get the perfect mortgage for their financial situation.
If you're interested in refinancing or buying a...
Erica Said:Anyone know of any good 100% Financing Lenders in CA?We Answered:borrowers try directlendingplanet.com
95% ltv and cltv and A paper rates best i have seen
dont think your gonna find a 100% ltv on that kind of L/A if you do the rates gonna be high! par aprox low 6"S at par
In my humble opinionMelvin Said:Mortgage options in CA and TX?We Answered:I've lived in both So CA and SA. I'd pick SA long before I'd ever consider returning to Cali again!
National lenders cover both markets. There are some differences in mortgage products but mostly they protect the borrower, not...
Carole Said:Can I get approved for a home loan?We Answered:Oh my! First please don't give anyone claiming to be a lender on these answers your personal info, being in the industry for over 20 years, they look very suspicious to me.
To answer your question:
Getting a mortgage loan approval involves your credit score AND income AND debt ratio. Your income will not qualify you for a mortgage in the $100k range, it will most likely require both of your incomes to qualify. The good news is that once the foreclosure is 3 years old (there are...
Joshua Said:Is this mortgage company a scam?We Answered:scam
ripoff
after you send them $3500 they will never contact you again. Give you some excuse about why no loan.
scam
ripoff...
Reginald Said:Should I Be Worried! Please Help - About to Purchase Condo?We Answered:First of all what you need to do is go get yourself pre-approved for a mortgage!!! That should have been the very first step before you even started looking at condos. I'm surprised any lenders would accept such a deposit without approving you completely for the loan!
Next, 680 is fairly average for a credit score (not great, but definitely not bad). They will mainly take that score into consideration for your interest rate (which could really only fluctuate about .3 percent). Income level is good, but considering...
Matthew Said:Mortgage from neighborhood bank or a mortgage broker?We Answered:As a licensed real estate agent I would recomend that you not do LendingTree. Too many nightmare stories.
But shop both the mortgage broker and the bank. Go with the one that has the best deal. And don't just look at the interest rate. Look at closing costs as well. A lot of junk fees get thrown in.Leona Said:When deciding to give a mortgage, do lenders take into consideration the popularity of an area?We Answered:If you are referring to the home itself it is subject to appraisal. As long as the...
Tina Said:Is this Obama's plan for this country?We Answered:yes it isMartin Said:Is this Obama's plan for this country?We Answered:Excellent analysis of the current trend by this Administration. Very little to add except post scripts.
There does exist ONE small light that may grow in all this Obama darkness.
The Democrats "appear" to have finally decided, enough is enough with Obama. For a variety of reasons, mostly because of their "opposition" that 50 BILLION dollar Jobs Bill "scam" of Obamas is DEAD in the water.
I'm "hoping" that they, like a vast majority of Americans went with Obama on the off chance he...
Hugh Said:Direct mortgage lender/broker in irvine cali. has anyone worked with this co. before i am looking for a reviewWe Answered:I'd personally be leery. Their website contains minimal info. Their link to HUD appears thrown in without formatting (unprofessional in appearance) No testimonials from previous clients. No investor info or way to look up their public stock (if any) that would have financial recommendation for investors.
http://www.mortgagedirectfs.com/about_us…
Click on all the links.
If they've offered you what seems to be too good a deal, it probably is.
If you are refinancing to avoid foreclosure, read this article first. It addresses The California Refinance Mistake...
Milton Said:What are the effects of foreclosure in USA...?We Answered:You need to check with a Florida real estate attorney. Some states like California have a anti deficiency law for home loans which means that they can not come after you if the house does not sell for enough to cover the loans. Others don't. A foreclose will lower your credit score. That may or may not be a problem. Depends on if you will apply for credit in the future.Vanessa Said:How many years can a mortgage company come after you after a foreclosure?We Answered:Each...
Lewis Said:Will lenders look at my wife's credit score for mortgage application in NJ?We Answered:They will only pull her credit if you put her on the loan. If you think that her score will hinder getting the loan just leave her name off. We do that ALL the time.Gail Said:Michigan Mortgage / Bad Credit / HUD homes / HELP!!?We Answered:I suggest contacting a mortgage company that does not charge for pre-approval and ask them the questions you pose. http://mumloans.com is an affiliated lender of my broker. According to their website they do not charge for pre-approval.
They will be...
Anna Said:Who is doing something to help homeowners with bad credit?We Answered:I am not sure why the government (tax payers) should have to step in. Those loans were signed, the borrowers knew the rates would go up. And NO ONE has bad credit who pays all of their debts on time. Again, bad credit is a choice, and people made the decision to have it.
I certainly hope that the government keeps out of private home sales, this is not a communist country and it would be disgusting to force Americans to support people who made...
Caroline Said:I would like to get a loan. I have a house with equity, but my credit is poor. Where's the best place to go?We Answered:credit-report-free.totalh.com - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate....
Allen Said:What lenders do an FHA mortgage with less than 3 years foreclosure seasoning given extenuating circumstances?We Answered:As I understand your question is you had a foreclosure about 3 years ago and now want to purchase a new home underwritten by FHA mortgage. All the mortgage brokers so far are telling you this is not done, yet the HUD handbook say it can be done.
You need to find a mortgage broker that do FHA loans that understand the nuances of doing a FHA backed mortgage loan with a previous foreclosure or call a local HUD office to get an interpretation...
Sean Said:Anyone know any Portfolio Lenders who will give a residential mortgage on a mixed used property in California?We Answered:Building a relationship with a portfolio lender is the best thing a RE investor can do to build his/her business.
Do some research, you probably pass a bank every day that is a portfolio lender. FYI: that bank will not be BofA or Citi but will be a 6 +/- branch concern that knows your local market.Casey Said:What are the maximum front-end and back-end ratios for home loans in California?We Answered:It actually has nothing to do with the lender per say.
The...
Sharon Said:Can any Mortgage Broker help us?We Answered:Yeah, something is fishy. I am a real estate pro. It makes no sense. I got a friend that lends in Colorado, and deals with hard cases. Feel free to e-mail me at sst_vandy_2000@yahoo.com with your contact info, to hook you guys up.Dustin Said:The mortgage holder of this house is deceased, can the bank foreclose with quitclaim deed?We Answered:they can and will foreclose unless you get ahold of them and make arrangements, it is actually not that cost effective for the banks to foreclose so they will try and...
Jerome Said:Do I wait until I file for homestead March 1 to file my taxes?We Answered:homestead and Federal Income Taxes are not related.
Florida does not have personal income taxes.
so, file your income taxes when you are ready.
***
the homestead exemption for property taxes in Florida is handled through the county tax assessor's office [i think -- it's been a while].
that office is probably online -- check 'em out.
of course, if you are a registered voter somewhere else, or otherwise are not a Florida resident, you are not eligible for Florida homestead property tax exemption. You have to actually live here...
Edward Said:Can anyone help with me resume?We Answered:Just with a quick glance, take out the objective, it's not needed anymore and it's rather blah.
Do not put responsibilities include but are not limited to...Just put Responsibilities and bullet point all the things you did, making them one sentence and to the point.
* Analyzed the needs of customers, answered questions and resolved problems
*Maintained (make sure you stay in the same tense throughout the resume) client accounts (you may want to include specifics on how you maintained them.
*Contacted Abstractors to verify legal information
Your school info needs to be switched so that you have...
Cheryl Said:Attention Michigan Lawyers!!?We Answered:Lawyers are often asked to work pro bono. And most do quite a bit more than average people think they do. But to ask a lawyer to do that is as rude as asking a grocer for free food or an auto dealer for a free car.
What you really want is a lawyer who might work on contingency. Check www.martindale.com to see a listing of lawyers in your location.Leo Said:Foreclosure consequences on my rental property in Michigan?We Answered:In the last 5 years there have been almost no instances where a bank came after...
Anthony Said:Should we sell our house?We Answered:any transaction is affected by the bankruptcy until its removed 10 years from the date of bankruptcy court dischargeMathew Said:What does Endorsement Allonge to Note and Allonge to Note mean? Please explain.?We Answered:"allonge" is a rarely used term that means that there is too much to write and it won't fit on the 1st piece of paper. It warns you to look for a separate piece of paper. It often is used for long lists of names.
This paper shows that the loan at one time was owned by Ohio Savings.
If you received...
Christine Said:If I make 48,000 a year, can i be qualified to buy a house that ranges from 170,000-180,000?We Answered:I would suggest going to your local bank for a pre-approval. This is a simple process and they will give you their estimate of the amount of loan you would qualify for. This is not a guarantee, and you are not entering into an agreement with the bank. This is just to give you an idea how how much house you can afford. Remember that just because the bank says they'll give you a loan for $170,000...
Peter Said:Can we make an appeal after judge dismissed a case because of statute of limitation?We Answered:it's still a crime.....i would think statute hasn't run out yet....as part of a plea and a year in county lockup they must pay restitution.......talk to the cops and the DA...
Tracy Said:Would you hire me? Feel free to correct any thing?We Answered:For starters...it's way too long!!!!!
Definitely change your objective....especially the part where it says "to grow with a company." It sounds kind of like something a teenager would say in their resume (please don't take offense, you asked for help).
Say something like....... "Seeking a position where I can apply my experience and knowledge toward the growth and success of the company."
Or
"Looking to use my experience and knowledge to help in the growth and success of the company."
Of course, those are generic, but something along those lines sounds much more...
Bobby Said:Mortgage Protection Insurance for my UK home. I need it, but which insurance company shall I choose?We Answered:I used Abbey National, but they were a bit expensive. I have looked into using British Insurance who I wish I'd used.
You can get a quote direct from British Insurance at www.BritishInsuranceQuote.comDon Said:If you have 20% equity in your home can mortgage lenders keep PMI insurance on loans because of late payments?We Answered:Home Owner's Protection Act
http://www.frbsf.org/publications/consum…Irma Said:Are lenders required to disclose Lender Paid Mortgage Insurance to borrowers?We Answered:hire a RE attorney, and pay the $100 consultation fee, or whatever it is, the...
Robert Said:Where can I find a list of mortgage lenders which went out of business in the last year?We Answered:I'm a mortgage broker and this is the website that I use to keep up to date on which lenders are going out of business.
www.mortgageimplode.comJeanne Said:How can i get a list of mortgage lenders?We Answered:The easiest way to get a list of mortgage lenders who are active in Hawaii is to go to any real estate agent (even if you are not buying or selling). Most real estate offices keep lists of lenders and are happy to provide...
Chris Said:Why did mortgage lenders give loans to people who they knew couldnt pay them back?We Answered:Years ago lenders were tightly regulated once it was lifted it allowed the lender to loose loan out funds. They now sell the bundled mortgages to the stock market. That's part of the reason the lenders are not able to reduce or make changes to the loans. They no longer own the money. They make money by closing costs and then sell to get the liquidity back to make more. If your loaning out someone Else's money and the...
Natalie Said:Consequences of a foreclosure versus-LA AREA?We Answered:The consequences of a short sale, foreclosure and deed-in-liu are all similar.
The main thing that changes as far as consequences goes in all these three is you the consequences with your credit report. A short sale is much better than a foreclosure, that is for sure.
The legal consequences well.....that all depends on the type of loan (recourse or non-recourse) and on the lender.
Tax consequences well......you many end up paying taxes for the TOTAL amount that the lender loses when the property is finally sold as a short sale or foreclosure. BUT you may...
Jason Said:Economic crisis - root of the problem.....Congress? ?We Answered:The root of the problem was that Clinton Administration who passed this ridiculous legislation. Now we have morons like Pelosi and Reid at the forefront of congressional decision making. THAT it what is wrong with this country!!Shawn Said:If a primary mortgage is foreclosed on in MN, is the borrower still obligated to pay the second mortgage?We Answered:yes. the lien is still owed; it is just not supported by the property or the threat of repossession. Note; any payment out of the foreclosure over and above the balance should have...
Robin Said:Forclosure Question Please help!?We Answered:Yes this is VERY legal and VERY common. In addition, since a modification is NEVER something you are entitled to, you have no recourse....
Florence Said:Who qualifies for a deed in lieu of forclosure?We Answered:You can not force this at all. You need them to volunteer to accept the deed, otherwise they will foreclose and it is in their best interest to do so. If they accept the deed you do not owe the deficiency.
The only things that all banks would require is that they are the only lien and you have no other means to pay the loan. You will have to prove this, must like you proved you had means when you bought the property.Juanita...
Bertha Said:What was the "Unintended Consequences" of this Liberal Policy?We Answered:Maybe the mess the housing market is in now.
But there will be probably a dozen posts that blame it on Bush when you clearly show it started years before he even announced his run for president.Erika Said:By Blaming Bush, is Obama taking advantage of an ignorant populace?We Answered:Yes. Too many people buy into sound bites and the daily feed they get from Twitter - remember Obama was the first candidate to utilize the power of the Internet to get his canned message out. When people fail to do...
Vickie Said:Can someone help me find a broker that can find me lenders that would give me another loan?We Answered:Go to the bank!Julian Said:Getting Pre-Approved for a Mortgage?We Answered:Just go to a strong lender (ie not one of those maybe near going under). A local one is fine or just a big one not having problems. Bank of America, Wells Fargo, or some others (not WaMu or Wachovia - to risky)....
Adrian Said:Is bank of america a mortgage lender with Fannie Mae or Freddie Mac?We Answered:I am sure that Bank of America sell some of their loans to Fannie Mae and Freddie Mac that are immediately qualified to be sold to these two and as others become qualified they are also sold to the two agencies.
Bank of America is considered a direct lender. Direct lenders make their own loan decisions and fund the loans themselves under their own company name.
At times when a loan application is identified as one that can immediately be sold to the two agencies then the underwriter...
Elizabeth Said:Obama's appointments: almost criminal in themselves?We Answered:And if his appointments weren't bad enough, his choices for "special advisers" go beyond criminal. His 48 Czars, and counting, are a mixture of Communists, Fascists, Marxists and Socialists.Elizabeth Said:Mortgage company won't give wife any information?We Answered:"Only my husband's signature is on this document"
And he will be the only one they can legally release information on this mortgage to for whatever stupidity caused it to happen that way.Annette Said:Mortgage loan question. Advice needed!We Answered:Paying bi-weekly will save a little because you'll have less interest.
But truth be told, it really doesn't sound like...
Marilyn Said:I found out that the mortgage company was in the process of foreclosing on my home. They had a default judgmenWe Answered:I agree with the first poster. Get an attorney to sort out the mess. You should be able to have the default judgment from the court set aside based upon the failure to properly serve you.
Was the assignment signed prior to submission of the paperwork to the court? Because if there was something else in writing, assigning the loan to them, and the paperwork hadn't been completed until 1 day before the hearing, that might...
Erik Said:Why would a seller's credit issue delay closing on a house we're buying?We Answered:she may not have enough money to pay off the mortgage and taxes. boy that would be huge screw up by someone if that is just determined to be the case now.Patricia Said:Denied Loan Modification, NOW WHAT? Where can i get help on short sale or other options?We Answered:A short sale is probably your best option since the condo is probably worth less than what is owed.
Contact a few real estate agents in your area and interview them and see which one gives you the best...
June Said:First Time Buyers, 1 with Excellent credit, 1 with poor? will we get a mortgage?We Answered:I agree with most of the answers above. However, if you engage the services of a good, reputable mortgage broker, they are going to run the various scenarios (single purchase, both of you on the loan, compare incomes, qualifying parameters, etc.) and he or she will tell you the best way to handle the mortgage. You have to remember that you may need to temper the price of the home you want to purchase if only your BF's income is used to...
Cindy Said:When mortgage lenders say "the bond market moved" so the rates are going to go down, what does that mean?We Answered:There are two bond markets in general that affect mortgage rates. The first is US government bonds, which help establish a "credit risk free" yield (or rate).
The second is the mortgage bond market. When you get a mortgage, it is put into a pool of other similar mortgages. That pool is then sliced up and sold as bonds to investors. Those bonds trade in a market of their own.
When you...
Herman Said:Does it affect your credit rating if you get a mortgage quote from a few different lenders?We Answered:Well for the correct answer (as backed up by reference), according to FICO, scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. When you need an auto or home loan, you can avoid lowering your FICO score by doing your rate shopping within a short period of time, such as 14 days.
Hope this answers your question....
Kent Said:How can I get a small, cash loan 1 year after a bankruptcy?We Answered:There is some good info here.Georgia Said:Who's to blame for the subprime meltdown?We Answered:The lenders are the ones who took the risk of lending money to people who cannot afford to repay the money. It is that simple....
Danielle Said:My husband and i are buying an apartment, as my greencard is being processed i cannot take out a mortgage, ?We Answered:Some lenders are really bitchy about names on deeds if one
party is not borrow-eligbile. Dumb rule.
ASK your title firm if you can be on the deed; I see no reason why not.
Also, you should be on the mortgage too, with the husband as
a co-signer if not an equal.
Lenders want every borrower to be qualified and when one party
is not yet working, it throws off their systems.
The MINI CONCERN that exists with the deed is some lenders
will call...
Jessica Said:Want to start a cleanup business on foreclosures. Do I go to Banks or Mortgage Lenders & what do I show them.?We Answered:When a borrower defaults on his mortgage and the mortgage company (who is "servicing" the loan on behalf of the lender) forecloses upon the property, the property goes on the lenders books as an REO (Real Estate Owned). Large mortgage companies may have an REO Department which is dedicated to selling these properties and getting back as much of the value for the lender as possible. While they are attempting to sell, they must keep...
Roberto Said:value added mortgage in texas?We Answered:I have been in the business a long time and the only added value is for the lender. Have a lawyer look at this before you sign anything. You onlyhave everything to loose.ppCourtney Said:Texas refinancing mortgage law?We Answered:Your lender is FOS. There's nothing in TX law that restricts you from refinancing any loan.
TX does restrict home equity loans to improvement of the property itself but there's nothing in TX law that prevents you from retiring a HEL with a first mortgage as long as you are not attempting to cash out equity. ...
Amber Said:Are Mortgage Lenders Doing !00% Financing?We Answered:There are still plenty, some counting on the foreclosure for the actual loan profit.
You have never been required to be a citizen of the US in order to purchase property here. You do have to prove you are here legally though.Ruby Said:Who are the current top buy-to-let mortgage lenders in the UK ?We Answered:"Best" is a very subjective term but, here in the UK, you may find the link below to be of use. It has various bits of info on buy-to-let, including mortgage information. Spend a bit of...
Cassandra Said:How can I get a mortgage in the UK to buy property in Ukraine?We Answered:1. If you have a UK property raise the capital against that by way of Further Advance (subject to income and equity)
2. Find a UK subsidiary of a Ukraine Bank and see if they can offer you a mortgage (don't even know if this option exists!)
3. Find a company or broker specialising in mortgages in foreign countries. The only one I Know of is Conti in Brighton (check yellow pages/Internet, not a recommendation).
As Ukraine is an up and coming nation, I think you may be...
Teresa Said:Does anyone know of a mortgage lender that will finance a mobile home in West Virginia?We Answered:Isn't going to happen.
Lenders have tightened their restrictions so much on lending, especially on MHs, even worse if it is in a park, you won't find any reputable lender to do this.
If your current wife has a much better credit score and an income, she might be able to obtain a loan.
The only thing I can suggest is perhaps a personal loan for the $20k, but the interest rate is going to be stupid.
The best thing you could do is fix your credit,...
Paul Said:What is the future for mortgage brokers?We Answered:The future is NOT GOOD for mortgage brokers! The National Association of Mortgage Brokers (NAMB) is having to do some fast talking to convince everyone that these are capable, honest and competent professionals. One of the actions that the NAMB is working on is to adopt a Code of Ethics that all licensed brokers would be expected to adhere to. I'm afraid this might be the classic example of "too little too late." I'm sure there are many excellent brokers out there. However, with the subprime boom,...
Jonathan Said:Is it impossible to find a mortgage with severely bad credit?We Answered:There are very few "bad credit" lenders anymore. Expect that IF (a big IF) you can find one, you will need 20% down and will pay a relatively high interest rate (probably in the 7.5% to 8% range). even FHA requires two years of clean credit before they will guarantee a loan....
Fred Said:What is the shortest lease mortgage companies will lend to?We Answered:I think you may be right, but just contact the leaseholder and ask about extending the lease term in conjunction with the purchaseKimberly Said:What is the rating of Washington Mutual customer services, compared to other lending/mortgage companies?We Answered:http://www.epinions.com/content_87019720…Franklin Said:how do I check out a mortgage lending company?We Answered:It is tough. There were hundreds of lenders operating in California prior to the bust. That would explain the closed offices. That is happening everywhere. Ask at Bradley where they have closed loans in the last 2 months...
Jeanne Said:If the Bank of Canada raises the prime lending rate to 8.8, does that effect mortgage rates? ?We Answered:Variable mortgage rates in Canada are usually set to adjust up and down with the bank's prime rate. As of today, Oct 16 2008, Scotiabank's Variable Rate Mortgage's interest rate is set to 5.25%. It's Prime Lending Rate is 4.25%, and the Bank of Canada's prime business rate is also 4.25%.
If the Bank of Canada rate were to rise to 8.8%, rates on your variable mortgage would certainly rise. Assuming your mortgage rate jumped from 5.25% to 9.8%...
Jennifer Said:Is First Universal Lending real? They negotiate your mortgage to lower payments & interest rates for $299 a mo?We Answered:Are you saying the charge you 299 to do this or that is the payment on your lan?Ana Said:Seen the Lending Tree mortgage rates? They are now advertising on YA.?We Answered:No, I personally didn't see them. Advertising is usually planned months in advance. Life is enjoyable thanks to these little moments of irony....
Jo Said:where can i purchase a mortgage calculator for a mortgage loan officer as a gift and recommendations welcome tWe Answered:Any Staples/OfficeMax type store will have them.
A solid and relatively inexpensive option is a Texas instruments BA II (2) PLUS. Costs 20-30, it's very very easy to use.
The gold standard is the HP 2C. It's more complicated to use, the button sequences are inverted, and it's far more expensive.
Stick with the TI. It handles everything a mortgage LO would need easiest and simplest....
Lucille Said:Mortgage Loan Calculator?We Answered:Yes, go here and use one of the calculators offered...
http://mortgages.interest.com/content/ca…Cindy Said:Real cost of mortgage loan calculator?We Answered:Look for an amortization table calculator. That will give you the run down on payments/interest. The tax amount is the interest paid.
Typically though, the amount of interest paid on the loan will be equal to, if not greater than, the original amount of the loan. Add the closing costs to it as well and that is the total cost of the loan.
Ex: a $120k note financed at 6% over 30 years would have a P/I payment of...
Ricky Said:How do I write a letter to a mortgage loan company explaining bad credit and late payments?We Answered:I don't know if it will help to give them reasons you didn't always pay. If you think it will help explain that you couldn't get your mail out due to being in a war. If you didn't have a support system at home like parents that could handle your accounts while you were deployed explain why.
You may have to wait to buy a home until you have good credit and are out of debt.Jerome Said:What are the benefits if I...
Gary Said:if i got pre approve for a mortgage loan do i have to stick with this lender ?We Answered:It depends if you put anything down for the pre-approval, if not, then definately shop. You should have a GFE or a good faith estimate from the lender, use that to shop around to get a good rate and see if some fees can be lowered. If you do have an investment in the pre-qual, then it's a matter of how much. Be advised to two things, the more lenders you go to, the more your credit will...
Courtney Said:what do mortgage lenders require to qualify for a 'no down payment' home loan?We Answered:Good credit. Over 700 if not over 720 fico. Reserves help also. Have around 6 months house, taxes, and insurance in the bank. You can get a loan without all these items, however the better loans will want them.Edward Said:does anyone know if mortgage lenders are willing make loan adjustments due to divorce?We Answered:Wow, that would drive up the divorce rate! Lower interest just because you are single!Tracy Said:What do mortgage lenders look for when reviewing loan modifications?We Answered:1)...
Geraldine Said:I am looking for loan modification leads and mortgage leads.?We Answered:This website offers 250,000 Leads and everything else for one price of $99
http://www.directcapitalsoftware.com/
* Loan Modification Software $500 Value
* Loan Wizard $200 Value
* Forensic Loan Audit Toolkit $200 Value
* Pre-Qualification Toolkit $100 Value
* Complete Lender Contact Manual $300 Value
* Complete Customizable Contracts $500 Value
* Complete Loan Modification Guide $100 Value
* Loan Modification Marketing Guide $100 Value
...
Gerald Said:Is there a website that will create an amortization schedule for an ARM loan (adjustable rate mortgage)?We Answered:Hi, I found this site's press release the other day:
http://www.checkmyarmonline.com
They seem to offer interest rate and balance audits for ARM loans, which I think is what you are asking about. The site says you only need your Adjustable Rate Mortgage Note and about 15 minutes to do this online. Hope this helps!Mae Said:Why is the home equity loan rate going up while mortgage rate is going down?We Answered:The two are not the same and have nothing to do with each other. ...
Bobbie Said:Can I receive HUD mortgage rates (3-10%) even though I am not a first time home buyer?We Answered:no as you are not a first time buyer.Alicia Said:Can an American obtain a mortgage loan from Japan where the mortgage rates are much lower?We Answered:Only for property located in Japan and with a japanese co-signer.
For usa mortgages I found interesting information & the best options here.
http://all-mortgage-calculators.blogspot…
Good luck!Lori Said:What are good indicators for future mortgage loan interest rates?We Answered:I worked in the mortgage industry for many years. Rates this week are great. The 10 year T-Bill, which the...
Ramon Said:Which mortgage estimate is right?We Answered:Not knowing your taxes how could anyone tell.
Principal & Interest on $105,000.00 at 5% over 30 years would be $563.66 add your taxes and insurance and you have your mortgage payment.
I suggest you get a good faith estimate which your loan officer will give you at application. You will need to give them an estimate for the property taxes and insurance and they will estimate your payment based upon a interest rate they can lock in on that day and they will estimate your closing costs.
Why go on what "Someone says" when you can...
Clyde Said:How do I calculate a monthly mortgage payment by using a electronic calculator?We Answered:You could also use a payment factor for different interest rates... This will get you in the ballpark...
For 6% interestrate use a factor of 6.0 per $1000 being financed. ie Loan of $100,000( 100 x 6.0= $600) for Principal & Interest on a 30 Yr Fixed.
For 6.25 %use 6.16 as the factor.
For 6.5% use 6.33 as the factor.
For 6.75% use 6.49 as the factor.
For 7.00% use 6.66 as the factor.
For 7.25% use 6.83 as the factor.
This should get you real close to figuring a paymebt but...
Lee Said:Where should I start for a mortgage pre-approval?We Answered:Talk to them both! See who can get you a better deal!Marilyn Said:How long should it take to get a mortgage pre approval?We Answered:This must be your first house. Banks and mortgage companies are very slow in getting back to you. I don't know what the people do at those companies but the all seem to close only on the last day of the month. It has taken me from 2-4 weeks.Cassandra Said:What does it mean to be coming with a Mortgage Pre-Approval?We Answered:it basically means she has...
Vanessa Said:what is better? My husband and I are looking at homes within the 150-160 thousand range.?We Answered:Put price aside when you consider buying a home, and think instead about those towns where you wish to live. Focus on those issues that are important to you (Good schools? Reasonable taxes? Commuting distance? Access to public transportation). Make sure to carefully inspect your prospective home (termites? radon gas? major potential repairs to plumbing, electrical, or heating systems?). As make sure to careful inspect the neighborhood (I once looked at house in a beautiful neighborhood that...
Eileen Said:Will the APR always be higher than the quoted rate for a 30 year mortgage?We Answered:APR would always be higher because it also factors in the fees you pay to get the loan as part of the interest cost....
Evelyn Said:When buying a fixed rate mortgage - what does the term "Overall Cost For Comparison" mean?We Answered:The overall cost is the total cost for the term of the mortgage.
That is 5,10,25 years.
It should show all costs for getting the mortgage any fees that are payable on completion of term etc.
AER is the annual equivalent rate which is interest rate that you will pay.
The for comparison is so you can compare the overall cost of the mortgage against any other quotes from banks, building societies who will have different overall costs.
If you have not any other quotes then it would...
Bertha Said:Why don't mortgage lenders lower the rate for buyers who face foreclosure due to the bubble burst?We Answered:Well, a lot of that is going on. Things are never as simple as they seem however. No longer do banks make loans on homes and then hold the mortgage. The mortgage is packaged with other mortgages and sold as a bundle to lenders throughout the world. This makes it more difficult to connect the buyer with the lender holding the mortgage (although it is happening). You can imagine the difficulties dealing with lenders from different cultures who may have diferent attitudes...
Kelly Said:will a bank lower your interest rate or refinance your mortgage if you tell them that you can no longer pay?We Answered:They may allow you to short sale the property. You need to prove that you can't make the payments in order to do this.
You can always apply to refinance.
And no, they can't just up and break the contract and lower your interest rate. You have to refinance in order to so that, signing new documents....
Melinda Said:Is there an explanation for these mortgage results?We Answered:The different down payments will result in different monthly payments (although the interest rates did not change to reflect the normal difference you will see in interest rates for .1%, 1%, and 10% down payments.Salvador Said:how do i figure mortgage payments?We Answered:The monthly payment can be found by using the following formula:
P = (Pv*R) / [1 - (1 + R)^(-n)]
where
Pv = Present Value (beginning value or amount of loan)
APR = Annual Percentage Rate (one year time period)
R =...
Veronica Said:What is causing mortgage rates to drop?We Answered:On a very fundamental basis, it is that mortgage demand has dropped. Rates can only decrease if the mortgage lenders (1) have access to cheaper funds (2) willing to squeeze their margins.
Regardless of the trade imbalance we currently have, mortgage lenders have money to invest in mortgages and are lowering rates to do it.
It is a further sign that a recession is right around the corner. When the yield curve inverts (longer rates are lower than short term rates), a recession is coming. Just in time for the 2006 elections!...
Sue Said:mortgage rates?We Answered:I would suggest either way also, but try looking at some sites that will provide rate sheets and maybe that will give you a bit of an insight.Jeremy Said:What are the mortgage rates today and how can you check?We Answered:This site compares rates.Clyde Said:I am going to buy a home in 1 year. Can I lock in mortgage rates today?We Answered:I hate to be blunt but everyone in this thread is incorrect.
Yes you can lock in a loan rate for a year, it will likely cost you a point or so (not such a big deal...
Philip Said:My grandmother is the lender for a home.We would like the borrowers to refinance or can we sell the mortgage?We Answered:Yes, you would have to use that to ask them to refinance. I would contact a real estate closing attorney (depending on what state you are in) or contact whoever is RESPONSIBLE for closing real estate transactions, whether it's just a notary or an actual closing attorney.Valerie Said:What happens if I no lender will refinance the full principal on three year balloon mortgage bought @ the peak?We Answered:You are stuck with your existing lender, or you go into foreclosure...
Herbert Said:Mortgage refinance?We Answered:If you miss a credit card payment, they'll scream and yell.
If you refinance your credit card debt by attaching it to your house, you'll be paying off your credit cards for the next 30 years, and then if you miss a payment, they take the house.
Get a copy of "The Total Money Makeover" by Dave Ramsey.
He explains a plan to never need credit cards again.
I'll summarize:
STEP 1: You're worried about emergencies. Good! Save up for them. Pay only the minimums on your credit cards for a month or two, until you get $1,000 cash...
Casey Said:For California, do both names on a mortgage refinance loan need to be on the house deed?We Answered:This is not legal, it is contractual, with the mortgage company.
The mortgage company is not going to lend your father money for property he does not own. He will have to be on the deed.Sarah Said:Will a mortgage company refinance a loan currently in forebearance?We Answered:They will if your credit still qualifies. If you are in a repayment plan its most likely you have hurt your credit. It may not be high enough anymore.Carlos Said:my credit score is 645 and...
Ken Said:Looking for mortgage and/or refinance loans data to extract from a database.?We Answered:This information is available through title companies but is provided to those in the business. If you are a loan officer consult your title rep.
Here is some additional info. Hope this helps.Judy Said:How to refinance my mortgage?We Answered:The internet will offer literally thousands of choices for mortgage loans so you no longer have to rely on the few banks in your hometown to give you the best deal.
Because the Internet has so many lenders, they work hard to compete for your business. They genuinely seek to...
Connie Said:What's a good mortgage refinance rate right now?We Answered:Try to hold out for 4.5% fixed for a 15 year loan. There is always the possibility of a 3.5% rate if the economy does not recover by summer..Frances Said:Where to find the current refinance mortgage rate?We Answered:When you finance a mortgage you lock into a rate such that the market trends up or down do not effect your rate until the loan closes. Thus a search for a new index is moot. This is a great question for your individual loan officer.Sue Said:Which bank offers the lowest interest...
Ben Said:does my mortgage have to be backed my Freddie Mac to qualify for lower refinance rates?We Answered:as long as you can qualify for the new loan it doesn't matter what your current mortgage is or who backs it. if you want a govt backed loan (like fha) you have to qualify and the property needs to be your personal residence.Marion Said:Any idea how low mortgage refinance rates expected to drop.?We Answered:The Fed Funds Futures are pricing in another 1/2 point rate cut by December. It could happen by the end of November.
I don't know for sure if this will...
Alberto Said:Is it more work to refinance with another mortgage company than refinancing with your current lender?We Answered:The work involved with your old lender or new lender is about the same, unless you are doing a FHA streamline refi, when it would probably be easier to stick with your current lender. If you have an FHA loan and 20% equity do a conventional refi.
How long are you planning to stay in this property? If you are going to stay in it more than 5 years it would probably be a good move, but anything much less...
Dave Said:What are the advantages/disadvantages of converting lenders' fees to points when refinancing a mortgage?We Answered:Advantage: Less cash to have up front at closing- a good thing to some and depending on the situation might be feasible.
Disadvantage: You are paying interest on an amount that really isn't part of the loan and while many can't come up with 'extra' cash, seems silly to borrow lenders fees and THEN pay interest on top of it. Try to find the cash and don't put them/roll them into the loan.Wesley Said:Mortgage Refinancing Process?We Answered:There is nothing to stop...
Patricia Said:Mortgage Refinancing and Fed Rate Drop?We Answered:I wouldn't do it just yet because it takes awhile for the secondary market to adjust pricing and it doesn't necessarily happen when the Fed makes a move. In recent years the rates go the way the market is moving. If you've noticed recently, the rates have dropped considerably, right along with the market.
The credit writedown info hasn't all been released yet, and there is more bad news on the way. In addition to that the greatest amount of mortgages slated to adjust is set for Feb. and March of this year.
If...
Clara Said:Online calculator? I type in my salary and it will tell me how much mortgage I can take out?We Answered:UK reply
Agree with 2nd answer re 3.5 x salary but in the UK there is an even bigger importance now!
If you haven't got 20% deposit - forget it! That is 20% in real money not borrowed from someone else!
Banks do not want to lend anyone at present, so they will only lend to the best possible repayers!
Also in the UK now is not the time to buy!
Houses have dropped 16% in the last...
Matthew Said:Does Clinton want his Treasury Secretary Rob Rubin to go to Jail for Predatory Lending in SubPrime Mortgages?We Answered:Angelo Mozilo is the CEO of Country Wide under investigation...Michael Said:Why is it bad to borrow Subprime loans?We Answered:They usually have higher interest rates because a higher percentage of them go into default. Those loans have unforgiving late penalties. As soon as you are a day late, your rate will go sky high. They typically have hidden fees and penalties that are not obvious to the borrower.Suzanne Said:How long will the subprime mortgage dilemna keep sending the...
Brian Said:Mortgage Wholesale Line?We Answered:You have to go in person to all the local "2nd tier" banks. The ones that don't have a big loan origination department. They save money by using mortgage brokers to find the borrowers. Even they probably won't let you sell home-equity loans but you can do regular 1st mortgages and make a good living.
The biggest national banks have cut back on using loan brokers.Byron Said:How can I (wholesale lender) get brokers info and ask them to use my services as a primary resource for loans?We Answered:Go out and meet the brokers face to...
Clayton Said:I have a question about Line of Credit and possible mortgage fraud.?We Answered:You questioned the line of credit initially and found out that it was a 3rd mortgage placed on your home.
Had you returned the money and then asked to see the loan documents you would have a good case. But instead you used the money (why not tell us what you purchased with it). You had full knowledge where the money came from at the time you received it.
Now that it is time for someone to take responsibility for that money you want to say.....
Harvey Said:People who are currently on fixed rate mortgages (UK)?We Answered:hi, i would say no they wouldn't as banks are set to lose quite a lot of money in the near future so will be relying on people such as your son who are on the high fixed rates to compensate.As you probably already know they make most of their profit from interest from the money they lend to their customer, however because of the current climate they will be lending less therefore getting less in return.
That all said if you don't ask you don't get - it can't hurt...
Rodney Said:What would be a market mortgage interest rate right now?We Answered:Got to www.bankrate.com and enter your information. They have many local rates. You have a great credit score so you should be able to get the best rate available.
As to the small vs big, the only concern I would have with a small lender is if they are really a reputable company. Check the rates first. If the big banks are offering the best rates, then you don't have to worry about the little guy.
Good luck.Loretta Said:Is this a good time to become a Mortgage...
Natalie Said:Is Aasent Mortgage Corporation a good mortgage lender?We Answered:use a local MB or bank, not someone on line!!!Loretta Said:Do mortgage lenders take local demand for your occupation into account when evaluating your application?We Answered:lol..about your "curse".
It seems you & HB are in great standing to qualify for a home-loan, except the employment history...The problem I fore-see is, it takes time to get the application for financing filled out & approved, so if you are waiting until your HB has a year into his job (about the time your lease is up?), you still have that waiting period for...
Dwayne Said:Lender changed amount during offer for home!?We Answered:Pre-approvals are barely worth the paper upon which they are printed. Nothing is carved in stone until you actually close the loan and money is transferred.
You have no recourse whatsoever....
Jackie Said:Realestate agents? Are you the one who is supposed to find the lender or is the buyer?We Answered:First of all, I think I would rather work with someone more experienced, as buyers need considerably more expertise than a newbie can provide.
As for mortgage and closing that is up to the buyer. As part of my services, I generally give me clients some names and let them choose. They should talk with at least three lenders to see what different programs are available and of course rates. While I can make arrangement for closing, I always...
Jessica Said:Nevada deficeny judgement and my credit report?We Answered:The laws for foreclosures on homes vary by state.
In your case it does look like Nevada has the law that they have 3 months "from the date of the sale" to sue for the deficiency.
I would suggest that you contact your local real estate commission or a local real estate attorney for confirmation - especially written confirmation that also contains the specific statutes.
(having it in writing from the real estate commission would go far in having a suit dismissed if the 2nd decides to sue)
Even though they would be barred from suing...
Kevin Said:Foreclosures and age?We Answered:Before you purchase any foreclosed property at auction, you would be foolish if you did not have a title search (exam) done. Contact a real estate attorney or title company. Have them check the title to see if there are any defects, other liens, judgments, easements, restrictions, zoning limitations, real estate tax arrearages, boundary line disputes or reversion clauses. The title exam should also confirm that the foreclosure was properly performed. If the property is a condo or part of a planned unit development, it may also be subject to association dues, assessments or...
Jerome Said:Did you see this breaking news ACORN’s Illegal Alien Home-Loan Racket uh oh should La Raza be investigated to?We Answered:Of course LaRaza should be investigated. They are also corrupt!
LaRaza helped write the pork spending bill. They are a racist group.Diane Said:Can't afford the house mortgage, can the house be given back to the bank?We Answered:Nope! You owe the bank the money. They will not take it off your hands, just because. They wouldn't make any money. Maybe it's time you try to sell it, and hopefully you will get enough to cover what is owed...
Alice Said:How long does a New York Mortgage Lender usually give on their foreclosure notices for owners can pay/leave?We Answered:It would be the same time frames for a non paying tenant eviction, as you are considered a tenant once the sale is final.
http://www.forecloseddreams.com/new-york…
http://www.entrusthome.com/39-stop-forec…Betty Said:We changed mortgage lenders and now our 1st lender will not release our FHA loan # to the new lender. Help?We Answered:I've seen this happen a few times and there isn't much you can do about it. Go down to the office of the old loan broke and try and change his mind. If...
Alberto Said:Why would the govt. make the SAME MOVES that caused the subprime lending crises to begin with?We Answered:You are correct- FHA is the new sub-prime loan. However, you do now need a 620 credit score- you do have to prove income & you do have to put 3.5% down. The really bad subprime loans were a 500 credit score- zero down & no proof of income.Kevin Said:Need to get approve for a FHA Loan in New York?We Answered:Go online at www.gmacmortgage.com
They have an online applicationPatrick Said:What is the procedure for loan modification?We Answered:The loan will stay with...
Catherine Said:I am trying to find info on SEMA tax in New York State?We Answered:Maybe a lender from NY can give you a specific answer I can't, all I can do is give the link where you can find out. I think California and N.Y have a secret competition going to see which one can write the most laws and impose the most taxes so that they can beat each other in the number of public employees that the tax generated can employ. Hey that's a good conspiracy theory ha.
Anyway here is the links:
PROPERTY TAXATION LAWS: http://www.orps.state.ny.us/pamphlet/tax… or http://www.orps.state.ny.us/star/index.c…
New...
Yvonne Said:Can I refinance an ARM that hasn't reset yet?We Answered:Hi Mathew, my answer to you on your other question was removed for some reason.
Regarding this question, I do short sales for a living (even have one in Naples). Although you are upside down on your mortgage, Aurora loan services will do a loan modification to get you into a fixed mortgage or a lower mortgage payment. However, based on what you described here and in your other post, I doubt that will be beneficial to you.
E-mail me if you have any further questions.
Regards...Joseph Said:Can second lender...
Angela Said:Does anyone need a mortage or looking to refinance in PA or NJ?We Answered:hahaha come on dude, have you run out of leads? What's the rate?Brent Said:What's the deal with Foreclosures? I live in NJ and I can't really afford a house any other way.?We Answered:A foreclosure is a house that a bank owns because the owner didn't pay the mortgage. The bank doesn't know anything about the condition of the house so they sell it as-is. Most banks list the houses with Realtors so call a local agent and ask what is listed. You can...
Christine Said:IS Time to Sell BOA ?We Answered:Unlike most people's advice, I'm going to say to "never catch a falling knife" (you learn this after you are burned a couple times).
I'd have to say that you should look at the future and try to put your money where it has the best potential to gain value.
Forget about BofA and think of where your money should be. If you believe that BofA has the best potential going forward, stay with the stock. If another investment is a better place, move your funds there.
Managing your money is like driving. ...
Edward Said:After foreclosure (North Carolina), can your mortgage co.make you pay what they lose in a foreclosure sale?We Answered:North Carolina's Statute of Limitation laws are complex.
Basically, they have 3 years on most debts, but 10 years for judgements.
I would assume you have a judgement. And if you do they have 10 years to sue you.
Sounds like you are talking about a large sum, it might be worth your time to consult a lawyer about your legal standing.Carrie Said:How can I find a good deal on a mortgage in New York state?We Answered:hate to say this but you...
Elizabeth Said:Should mortgage lenders charge off these loans?We Answered:No. I really think there is a better way for everybody, but sadly nobody wants to look at this.
1. Allow people to stay in their homes, this keeps the place nice, and keeps out the rift-raft
2. Put in place a mandatory 40-year loan instead of the 30 year loan. We did it for cars in the eighties and nineties. That lowers the monthly payments.
3. Allow those who are behind on their mortgages to put that amount at the end of their loan. You can't bleed a turnip...
Maxine Said:My credit score is 606, can I buy a house in ohio, with this score?We Answered:640 is starting baseline for FHA.. there are some lenders that may work with you look for the product called FHA Refer. it can be done, the interest rate will be about .75% higher (3/4%)... we do them all day long in Nevada.
the person above me does not specialize in FHA and should not give advice were ignorance is so obvious....
Rita Said:2006 Unclaimed real estate tax from lender's mortgage interest statement?We Answered:It appears that half of your 2007 tax was paid in 2006. In that instance you'd have to amend your 2006 tax return to take the extra deduction there. You can only deduct what was actually paid in 2007.
The only other fix would have been correcting the error back in 2006 when it occurred. Obviously it's too late to do that now.Salvador Said:I am having problems with my mortgage lender... any help would be appreciated. Thanks!?We Answered:Looks to me like this lender has burned you twice.
I...
Claude Said:If my aunt is cosigning on my mortgage, does her husband have to sign too according to oklahoma law?We Answered:I don't know Oklahoma law, but so long as your aunt is not putting up, as collateral for your loan, any property that she co-owns with your uncle, then my guess that she doesn't need his signature. However, if she is pledging any co-owned property, then the co-owner will need to sign also.Pedro Said:Does a house have to be deeded for a year before it can be flipped (state of Oklahoma)?We Answered:I am a mortgage banker and broker. ...
Eric Said:Hi need to get a credit report done online to show to my mortgage broker?We Answered:if you are looking for the best credit report online site, check out this site
http://Credit-Report-Online-USA.com/
Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating.
Hope this help,Vicki Said:Mortgage Broker or Mathematician please help?We Answered:FV = PV x (1+r) power of n - then square it by number of years
ie
The value of 100000 today is 100000.
FV= 100000*(1.10) power of 1 year = 110000
FV= 100000*(1.10) power of 2 years= 121000Kristen Said:How do I become a mortgage broker in...
Jean Said:Where is the best place to find a mortgage broker or are there better options?We Answered:Your going to get many different opinions to this question. As it stands now, banks are tough to get mortgages through, think about it, b of a, wachovia, wamu, citi all reported tremendous losses recently. This means that they don't have the capital they used to in order to lend so they have tightened their lending requirements, and rightfully so, I personally believe their requirements were too loose in prior years. They also tend to take 30-60 days to process your loan...
Dave Said:online companies offering mortgage loans?We Answered:I would stay away from these types of companies. It is nothing but a clearing house. They send your information out to a number of companies.... they ALL pull your credit, and there is not local representation. Multiple credit pulls, hurts your score, and personalized representation is very important. Your best bet is to either go to the bank where you do business, or a local mortgage "banker" (not mortgage company). They have access to many programs that should address your needs. You also will have a real...
Lois Said:Mortgage Lender, 1098 documents, Foreclosure?We Answered:Unless the advice came from your attorney, don't ignore them. Once you let them know you aren't making anymore payments the calls will reduce if not stop.
realtor.sailorBrittany Said:questions for mortgage lender?We Answered:you must find the lowest rate avalible to you without having to pay a discount fee! rate sheets are given daily in alot of cases and can change often some times during the day.
the ones that do send you a rate sheet will tell you that.
you need to find the lowest fixed rate, period!
without having to...
Herman Said:How can online mortgage lenders come up with your rate if they don't ask for your credit score?We Answered:They really can't with any accuracy, so they will quote you a rate based on the best possible scenario. In a lot of cases they will even low ball the rate because they know you are "shopping" for the best rate.
The low ball is really easy to cover since the lender can always come back and say well your credit is lower so the rate will be higher....
Felix Said:Does the mortgage interest rate different from the online quote ones and when they run the history ?We Answered:1) yes
2) yes
3) no... only the first inquiry will 'ding' your credit. (and its only a few points) The way it works is the credit bureaus look at the kind of inquiries and if they are all mortgage brokers, etc., they only ding you for the first one. It's not enough to have a negative affect on your FICO score.
To give an accurate estimate they will have to run your credit, otherwise it's just guesswork on their part.Warren Said:Where can I...
Nicole Said:With a mid fico 530, I need to get a 350K loan, possible?We Answered:This is possible, but more information is needed.
Can you prove your income?
Are you w-2 or self employed?
Have you had any charge offs in the last 12-24 months?
What are the amounts?
How do you currently pay your rent?
Do you have check stubs to prove you payments?
Do you have a potential non-occupying co-borrower? (we can still work with you if you don't)
How long have you been on your job?
I would be glad to see what I can do to help. Be sure not to get your...
Terry Said:Oregon home buyer:why prepaid property taxes for 12 months?We Answered:The taxes should be pro-rated. There needs to be enough in your escrow account to pay the taxes when the bill is due. It may look like you are paying a year's worth on page 2 of your HUD1 but I bet you are getting a credit from the seller on page 1 from the portion of the year they have lived in the house.June Said:Just stopped paying the mortgage in Oregon ... tell the lender "straight up", or let them figure it out?We Answered:Boy, that JTT guy...
Hilda Said:UK Mortgages: Can I get a mortgage at 18?We Answered:(1) If you dont have savings to put down a deposit....now is not the time to be trying to get a mortgage (of any size)...the economic situation is just too difficult...and you never know what's round the corner.
(2) Although we don't know where in the country you are looking to live, and despite the fact that £35k is unbelievably cheap for any type of property (in fact maybe too cheap....this would probably spark concerns for any lender)....it's almost certain that house prices will go down by at least another 8-10%...
Perry Said:I have a mortgage originators license in Maryland, but am looking to also work for a broker in Pennsylvania?We Answered:I work for a broker in PA and we had a guy come up from MD to work for us. However, the company I work for has a PA license and he operated under the company license. Call around in PA and see what you can find. There are plenty of Brokers up here. Alot to choose from.Kelly Said:Does anyone know of any loan sharks in PA?We Answered:Try prosper.com. It may help you. Or try auto title loan place...
Kurt Said:What do you think of these people?We Answered:"These people" are Typical Democrats = Believing themselves Above the Law.
Has the Main Stream News media ever exposed this information?
Does this prove the media is Owned by "Progressive" / Liberal mindsets?
Review the Source of the Spin & Lies the mainstream news regurgitate!
GUIDE TO THE GEORGE SOROS NETWORK
http://www.discoverthenetworks.org/viewS…Maxine Said:As FBI may investigate White House's job offer to Rep. Sestak, does FBI have score to settle with Obama & crew?We Answered:I agree. The voters of Pennsylvania, most likely feel as though they've been dealt with quite dirty. At the very minimum clear evidence that...
Kelly Said:Foreclosure times please??!?We Answered:You need to yahoo search the foreclosure laws and time frames for your state. It's really important that you know what your time is and rights are.
Example: In Minnesota, that notice is notification of sheriff sale. From the date of the sheriff sale we had 6 months to stay in the house and not pay rent. During this time,you do need to save money for your move, IF you've decided to let the house go. But first, please do this, call 888-995 HOPE to see if there is ANYWAY you can keep...
Margaret Said:Can I still get a mortgage with poor credit score even if all debts are paid?We Answered:you need a credit fico profesional on your side.
somene who shows you how the game works and how backwards the financial system is.
Someone who gives your the tools you need to empower yourself and succeed!
Most of the old school ways to building credit does not work anymore.
I have a few methods that work and its all legal and legtimate this takes months not yrs!
The game has changed and most people are not qualified to answer these questions.
If you would like to discuss...
Jill Said:Is the 1.75% Mortgage Insurance Premium (FHA loan) up front payment tax deductible in the tax year its paid?We Answered:When did you buy the house? The itemized deduction for the premium is only deductible if you recently bought the house. See 1040 instructions for schedule A.
Since you appear to have paid a lump sum, you must prorate it over the life of the loan.
Also see IRS pub 530.Julio Said:What is the purpose of Mortgage Insurance Premium?We Answered:MIP is another form of security for the lender. Where lenders have different requirements in this area it will many times...
Wallace Said:Thinking about buying a home.. How much more over mortgage can I expect to pay?We Answered:You need to figure in other costs, such as homeowner's insurance, repair costs, PMI (if you don't put down 20%), in addition to your monthly mortgage payment.
A breakdown of these monthly costs is shown in the site below. Good luck!Jamie Said:how and where to obtain information about someone's purchase of a house, price, down payment, mortgage pymnts?We Answered:Possibly, if they went to the wrong lender.Leo Said:How can I get more money out of a mortgage than what the selling price is?We Answered:Have the...
Tamara Said:can i get mortgage financed after discharge?We Answered:problem-ably not going to get a prime loan. the new cut offs for them are a 700 credit score for more lenders now. Look into FHA programs. Be patient. Work with a good Realtor that has contacts with mortgage brokers. Lot of Luck!...
Ramon Said:What is the sup prime mortgage loan crisis?We Answered:...
to put it in plain terms:
sub prime mrtg loan crisis is a period (like what we are in right now) where lenders are very strict in credit requirements which makes it hard for most folks to be financed
the prime lending rate as of now is 6%
the leading sub prime lender is: CountrywideAnnie Said:Which prime mortgage lenders also offer sub-prime loans?We Answered:most of them if you can show you got the means to pay, because these would be for rather large sums of cashJacob Said:what is the difference between prime and...
Harvey Said:Question about a mortgage loan: private party vs. traditional lender/bank?We Answered:your plan is not a plan, it is a wish wait for it to come true one day. Dreamer!Jeanne Said:How do you refinance a mortgage? Who's best to go to? Bank? Private Lender?We Answered:Step 1. Get a copy of your credit report and FICO score.
Step 2. Go talk to loan officers at several banks and mortgage lenders and show them your credit report and FICO score and get their best rate in writing.
Step 2A. Buy a current publication (business newspaper or journal) that lists mortgage rates....
Judy Said:private morgage lender?We Answered:You can reasonably trust most private mortgage lenders as long as you do check the contract completely. look for payment clauses, prepayment penalties and any out of the ordinary terms. good reputable private mortgagors will provide you with a copy of their note for review prior to any transacton. do insist that a neutral licensend 3rd party perform escrow. that same firm can collect payments and enforce the contract. in the event the private mortgagor goes bust, your contract would then be handled by a trustee, but the terms of your...
Christopher Said:Any private lenders out there interested in purchasing a $250,000 2nd mortgage to make 6%? 61% LTV, 660 fico?We Answered:For a small percentage I can guarantee a private investor
that will purchase your mortgage. If you are interested you
can email me @ pcg7342@sbcglobal.net...
Constance Said:private lenders?We Answered:Your best bet is probably to put an ad in your local newspaper and try to get them to call you.Margie Said:If FHA mortgages are insured by the government why do some lenders still require / charge you for PMI?We Answered:because the pmi isnt on that loan its on the part of the loan that couldnt be financed under those terms right? at least i know thats how it was going to be for us until we realized we could still use the va loan even though we already owned another house....thank god because the pmi was...
Jeanne Said:Does all mortgage companies charge a fee just to consulte you?We Answered:NO THAT IS A RIP OFF!!
The most they should charge is a fee for the credit report which could be anywhere up to say $35 which is what they pay to pull your report. They only should get fees once the loan closes and it should be a percentage of the loan amount. Try a different company, good luck!Warren Said:mortgage fee question,please help?We Answered:I'm not sure exactly what you mean by "attorney fee". Is that the document preparation, the title insurance, or something else?
Every good faith estimate...
Willard Said:companies or private companies that offer to cosign on a mortgage??We Answered:yes however you will fall prey to a take overRoberta Said:Since the mortgage companies offered loans to "high-risk" people, more than likely the "high-risk" people did ?We Answered:AIG insurance went bust because the PMI charges were insufficient to cover all the defaults. Plus, if people could not pay their monthly bills, PMI would probably be the first thing they stop paying. Julie Said:Mortgage company seeking private lending sources for international mortgages on Margarita Island in Venezuela?We Answered:Is there a question here? Terrance Said:investing in private mortgage companies good...
Brent Said:How do you calculate private mortgage insurance for a home loan?We Answered:Private Mortgage Insurance rates are usually set by the insurance company insuring the loan which is calculated with consideration to how much of the loan needs to be insured. In the case of an FHA loan (government insured), you pay part of your PMI upfront (1.5% of the loan amount) and the rest (.5%/12) in your monthly payment. On an FHA loan of $115,000 you would $1725 at closing plus a monthly PMI of $47.92. Plan on $67.03-$86.25 extra per month if not an FHA...
Tracy Said:Where can I find a hypothecation lender to lend me money so that I can buy private mortgage notes?We Answered:www.LOANIO.com (not my website) has investors bid to loan you money. Hypothecation loans are "pledged" loans; you must have something to pledge as collateral..Naomi Said:How do I find a private lender for a 2nd on a VERY secured Mortgage?We Answered:Go to your local bank and ask for a home equity loan.Tammy Said:How can a private lender add payment history to credit report?We Answered:Your lender would have to pay the fees to subscribe to the credit bureau. It isn't cheap....
Deborah Said:how soon can you refinance if you got mortgage from private lender?We Answered:You can do it now if you do not have a penalty.Larry Said:PRIVATE MORTGAGE LENDERS?We Answered:Don't exist....
Clifford Said:Insurance: Mortgage or addtional life?We Answered:This Accidental Death Mortgage Insurance is often called "Optional Insurance" by mortgage industry professionals.
In the mortgage industry, Optional Insurance is thought to be a rip-off. If you have any sort of Life Insurance, then your beneficiaries will receive a ton of money if you die. If they choose to pay off the mortgage with that extra cash, nothing is stopping them. If they wish to buy a new house or open a new business (and leave the mortgage balance as it is), then they would have those options as well.
I recommend against...
Sally Said:where to find 105% mortgage loan to purchase a home?We Answered:DON'T DO IT!!!!!Roberto Said:What happens to the mortgage on our existing house if we use a bridge loan to purchase a new house?We Answered:1. On the Bridge loan, you can take out up to 85 percent of the value, and put it into a new home - payment is deferred for 6 months. That will enable you to #1 buy the new home, or build the new home #2 gives you time to sell your other home.
2. You are still responsible for all mortgages.
3. Lenders...
Glen Said:How do I check daily FHA mortgage rates?We Answered:I disagree with the previous two answers. MOST rates on the internet are very misleading. Unless you understand the difference in rate and APR this will not be helpful to the average person. Also, many rates on the internet include points but the real question is how many. I recommend you shop several banks on the same day and get an estimate of the rates. This will help you determine who is comparable and who is out of the game. Just to give you an idea the average rate...
Allison Said:Why a higher interest rate on modular home mortgage?We Answered:It's my understanding that the rate can be as much as double, so, possibly, 12% or better. That's because these homes don't appreciate as much as a traditional home (the buyers market is smaller, there are still some people with negative feelings about modular homes), they can be moved (literally, someone could drive away with the banks equity), but most importantly, because there is a higher rate of loan default with modular homes. Why there is a higher default rate is immaterial. Statistically, the loan is higher risk than a...
Sally Said:How to choose a mortgage company? as the rate going down I'm checking the option to refinance my house?We Answered:the rates are at 6.25% for 30yr fixed...you can probably get it at 6.125% with the right company.
also depends on your LTV....credit score..loan amount...etc
there are a lot of companies that DONT CHARGE YOU closing costs...but Nothing in life is for free...so you will see their rates at 6.75% or 7%
edit* 5.99% sounds like an ARM.....30yr fixed is higher than thatGeraldine Said:I would like to find a web site that rates mortgage companies, i.e., how customers rate them, and how others...
Lydia Said:Can a mortgage company increase your rate after you've already locked in?We Answered:That depends on what you have in writing from the lender. If the lender locked in you rate based on your application, with your credit score known, I would think not. However they could have had you sign something that said they could, or they may not have a signed lockin with you just their word.
Welcome to the world of untrustworthy lying cheating mortgage lenders, banks etc. Some are and Some aren't!!!
You should have your agent go to bat for you to get the lender to reverse...
Ricky Said:Will mortgage lenders penalise someone who has a small / no deposit by only offering a higher interest rate?We Answered:No, it depends upon their credit history.
There are 3 categories
1.Sub prime (very bad credit history)
2. Near Prime (not bad)
3. prime (very good)
So, sub prime customers get very high interest rate to avoid risk involved in lending.
This is how it is calculatedPatsy Said:What is the lowest credit rating most lenders require to get the best rate on an owner-occupied mortgage loan?We Answered:Right now you will probably need to have a minimum of a 680 mid score with a 20% down payment...
Joan Said:What do think the Mortgage Lenders and the Government will do about the rising defaults and foreclosures?We Answered:The government will do little if anything.
Mortgage lenders have already started by tightening up guidelines. Just a few months ago, someone with a 580 credit score could qualify for a 100% mortgage, but now the minimum score is 620.
Interest rates will not go down as a result. Mortgage rates are determined by the secondary market, not regulation.
Woof....
Shane Said:What are the average rates for mortgages today?We Answered:Here are a couple good websites:
http://www.hsh.com/
http://www.bankrate.com/Teresa Said:Do you think interest rates will fall for fixed rate mortgages for new customers?We Answered:Yes. And there are reports of a 2009 promotion that would lower fixed rates to 4.5%..Joe Said:How are variable rate mortgages set? Is there a method to find historical trends for variable rates?We Answered:Most adjustable rate mortgages have an initial period of a fixed rate (usually 3 or 5 years), and then convert to fully adjustable each year. The floating rate is usually agreed to be some publicly available interest...
Cecil Said:Are there any honest mortgage lenders anymore?We Answered:I won't say that there aren't any honest mortgage lenders, but in my experience you are much better trying to deal with a bank instead of a mortgage company or mortgage broker. They simply tell it like it is without all the run around nonsense. Mortgage brokers can string you along for months and in the end all you are left with is no loan and a lot of lost time....
Douglas Said:Can you refinance a 2nd mortgage?We Answered:Yes you can refi your 2nd alone. however it would not be cost effective for you.
I highly suggest you refi both and combine the loan. That way you have only 1 loan to pay for, plus reduction of payment. Keep in mind that you do get a tax write-off for refinancing as well.
I have been in the business for over 10 years and own my own mortgage company.
Please check us out at www.1stcontinental.com for ligit information, then email me if interested at fabbian@myfirstcontinental.com.
P.S.
this guy "bostonian" who just answered before me sounds super skitso,...
Herbert Said:can I refinance my international home loan in US?We Answered:you can but ask
i doubt it. no US bank will know anything about the proper procedures in India relating to mortgages.
as best I understand the laws of both India and the US, there is no bank that does business in both countries -- not even a foreign to both countries bank.Joanne Said:Is now a good time to refinance my home loan?We Answered:Stay where you are ! That is a great rate! Unless you want to consolidate debt or you are in an ARM, don't refinance.Audrey Said:How much money do...
Perry Said:mortgage,loan,loans,home mortgage,refinance,home refinancing,mortgage loans,mortgage refinancing,refinancing?We Answered:May be this site can help you
http://www.thetechnology.netRosemary Said:Is it wise to refinance your home mortgage to consolidate auto loans?We Answered:NO.
Cars depreciate in value - if you owe more than you can comfortably pay - sell it and get a cheaper car, preferrably one you can pay cash for.
Best case is to never finance cars, and buy good, dependable used vehicles.Kyle Said:Can a veteran get help with closing costs to refinance a home mortgage loan?We Answered:Try this, Its good
http://mortgagerefinancingatlowrate.blog…Allan Said:Should I refinance my Home Mortgage Loan now?We Answered:Great question! Although refinancing a mortgage...
Katrina Said:What's a good approach to refinance home mortgage?We Answered:Shop around for your best rates.Some companies may offer you an even lower rate if your credit history is good.Also shop for one with no fees on refinancing. Theyre out there, you just have to look.Ana Said:How can a refinance home mortgage help me?We Answered:It can be used for many reasons. It can be used to lower your interest rate which will lead to a cheaper payment. In many cases if you've had your mortgage long enought if you refinance you will be making payments on a smaller loan amount therefore...
Mitchell Said:Why Don't Mortgage Companies Refinance?We Answered:You are working under the assumption that the problem in the ARM (Adjustable Rate Mortgage) and not the borrower. The reality is that in most cases the borrower is the problem. Changing the type of loan doesn't change this. The truth is that a lot of people were given home loans that should not have been given them. Mortgage companies are now realizing this. It makes sense for them to cut their losses, as heartless as that may seem.Edgar Said:Are there any mortgage companies willing to REFINANCE someone with a great credit score?We Answered:call...
Nora Said:Can anyone recommend a mortgage company to refinance a mortgage that was in default but is current now?We Answered:first, let me say---do not apply with these on-line offers (where people write in and say "call me---i can help you")...they can't...and if they can...they will only get you deeper....
Best advice is to go to your local banks...they are reputable, close, easy to work with and will not scam you with all kinds of loans.
Also keep in mind that today's market is really bad...foreclosures everywhere everyday! So be savvy any DO NOT fall for those ARMs or any other fancy...
Donna Said:Refinancing. Will I pay less in closing cost if I use my current mortgage lender/bank?We Answered:This can be true. To make sure you are getting the best total deal (lowest interest rate and lowest closing costs) be sure to shop around by talking with your current mortgage lender and bank, along with talking to other lenders. You can quickly find other lenders who are offering good deals by looking at the consumer-friendly website BankRate.com (under "Mortgages," go to "Compare Local Mortgage Rates" and enter a few quick details).
When you are shopping around, ask about closing costs and...
Suzanne Said:What lenders only use Transunion credit scores when rating people who want to refinance their home mortgage?We Answered:As credit scores have become the predominant decision making tool in the mortgage industry, I have not run across any of these companys. You are corrIect that the norm now is the middle of three or the lower of two. The country is broken up into regions where one of the three bureaus would be the predominantly used by creditors in that area. Daily I see bureaus where the low score could be in the 500's and the high...
Melanie Said:Will getting a refinance mortgage loan help me save money?We Answered:Yes if the terms of the new mortgage are better than the terms of the existing mortgage, and taking into account the costs of refinancing. You can decide that only be evaluating the mortgages available to you and comparing with your current mortgage.
Normally, a refinancing is not feasible unless the new interest rate is about 1 percent point lower than the old rate. But other factors have to be taken into consideration....
Marcus Said:Will anyone refinance my adj rate Mortgage at 120% LTV?We Answered:Yep, unfortunately this not an unusual situation around the country. You either 1) keep up the payments until you are in a situation to refi, or 2) if you are in default, see if you can find an investor who can try to negotiate a short sell and take the house. I'd recommend if you take this route, you work with an investor who demonstrates they don't make promises they can't keep, and push to put your deed in escrow.Elizabeth Said:5year fixed rate refinanced mortgage, must...
Leroy Said:Anyone know of refinance mortgage rates of 4.5% or -?We Answered:Right now the rate on a 15 year mortgage is about 4.8% and on a 30 year 5.30% according to Bloomberg.Juanita Said:Should I refinance soon or now since mortgage rates are dropping?We Answered:There is no real good answer to this. Rates are down now, and this MAY be a good time to refinance since some think that rates will go up as inflation hits because of all the borrowing the government will have to do. Are rates at the bottom now ?? No one knows....
Robin Said:refinance mortgage offers, "no costs to you" are these legit?We Answered:These no cost loans, mean no closing costs will be paid by you. But, the lender will give you a higher interest rate so they can afford to pay for those closing costs. Ultmiately whether you like it or not it will end up coming out of your pocket. Typically unless you plan to sell or refi again in the near future it is worth paying the closing costs up front and taking a lower interest rate. It may cost a few thousand at first,...
Lloyd Said:Can I refinance a second mortgage with another bank to get a lower rate?We Answered:You can always shop around as much as you want; you are a consumer and you have the right to do business with whomever you want! Credit Unions and commercial banks are always looking for good people to lend money to. There are web-based companies that shop for you then get a commission if you do business with the firms they recommend. You have many options! Keep in mind that credit is very tight right now and without strong credit scores you'll be offered higher...
Jacqueline Said:questions about refinancing home mortgage? ?We Answered:Quit thinking "Monthly Payments". The banks want you to think that way. It is only a 6.25% interest rate if you pay it off in the first year of the loan. Sure your payment would lower but your balence on the house would not. Instead of paying the bill early, pay extra money on the principle. Your paying 90% interest on the monthy statements. Dont pay early, pay extra only to the principle. This wont lower your payments but it will lower the amount that you...
Marsha Said:Are the interest rates the same between people who take a new mortgage and those who refinance?We Answered:I would go to a reputable, bricks and mortar (physical location) of a known bank to refi. Part of the mortgage debacle was using anyone and everyone (including the big banks, though) and it is critical to be sure you know who you are dealing with and what you are dealing with! Get a referral and go with someone with a good track record. Also, start with the bank you deal with. They want to keep your business and...
Erin Said:Can I refinance with a reputable lender following a loand modification?We Answered:Yes, unless the modification had a provision saying that you had to make up any shortfall. Most lenders would not require that. They just want their money....
Erika Said:Can I, as a non-licensed mortgage residential loan broker, be independant and work from my home in Va.?We Answered:You need a license to be a loan broker. I would think you have to be an agent first, working under a broker, but I am not positive.Danny Said:Mortgage Broker, or as they are fixing to call it, a Residential Loan Originator or a Real Estate Agent?We Answered:jkshack:
a; a residential loan originator works for a mortgage broker.....
b; a real estate agent works for a real estate broker.
c; you may get schooling for, test for and get a...
Raul Said:I need a mortgage on a home that is zoned commercial/mixed - what is a good company to go through?We Answered:If the property is zoned commercial with no commercial building on the property you might have a good chance of getting a very good loan.
Now you will have to find a mortgage broker that can find a person or mortgage lender that will fund and close on a mixed use property.
You might have to prove that the house was legally built there and that there is no plans in the near future of adding to the property or...
Ernest Said:Retention when re-mortgage?We Answered:Retention is only usual when there is necessary work to be done on a property eg damp proof course, roofing repair etc. before funds are released, sometimes other requirements may need to be met eg. paying off car loans etc. So no there shouldn't be, but obviously it depends on your circumstances and lender, if there is equity in the property for example.Roberta Said:What can I do about mortgage lender that falsified documents?We Answered:Why are you worried about it 3 years later?
Since you didn't borrow the money you were not harmed and you would not have...
Daniel Said:What is the difference in the repossessions process between buy to let and residential mortgages?We Answered:You should discuss any (fixable) problems you have making payments with the lender ..
If they can see your problems are temporary and you are making efforts to resolve the situation, they may agree to freeze interest or (temporary) reduce payments until eg. you find a new tenant OR sell the house (or some other house) to raise cash & pay off the mortgage
If you keep making at least SOME payment (even if not the full amount) they should again be more willing to compromise...
Fernando Said:Do you have to have permission from lender to add a name to a deed creating a joint tenancy? (Floroida)?We Answered:He owns half the house now, including half the equity. She gave it to him. The deed is legal, what the lender will do is call the mortgage due, she is going to have to refinance....
Sue Said:Paying off reverse mortgage?We Answered:The only way I would recommend prepaying a reverse mortgage is if your mom is very low income and is going to move into a subsidized senior apartment complex. In that case, it might be a good idea. Otherwise, I wouldn't recommend it. For one thing, where will your mother live if you sign it over? Are you or your brother prepared to take her in or pay for an apartment?
For most reverse mortgages, the heaviest expense was upfront in the financing fees. You won't get that back if you...
Dale Said:We are ready to move, but can't sell... Should we foreclose?We Answered:No do not let your property go to foreclosure.
If you have a foreclosure on your credit report you will not be able to get a mortgage on the house that you want to buy.
I recommend that you contact several attorneys who specialize in real estate law.
Ask the attorney about getting the lender to modify your mortage to reduce your payments to a level that you can afford.
Also have the attorney review your loan documents to determine whether or not your lender violated the law.
I am currently working with...
Katherine Said:Is it better to be married when applying for a mortgage?We Answered:Sometimes it does, You just have to shop around with different companies stay away from brokers, and some of those on line companies they stick you with major closing cost, and our bank was very hard and didn't want to give us much. Ask about first time home buyer programs in the area. My husband has the job but I have better credit and they approved him for the loan without me on it so maybe one of you needs to do it and see....
Christian Said:FHA 203k Loan Closing Costs - Am I being ripped?We Answered:That's high and it sounds as if you are getting screwed. The broker is betting on the fact that at this late date, you are not going to walk away.
The 1 point origination on an FHA loan is standard and allowed by FHA. I have never seen $2000 in processing and admin. fees, but as a disclaimer I am not in California. The MIP...again that it is standard and the rates are based by FHA. As for the "mandatory" discount points...who made them mandatory? If the broker is...
Tracey Said:Please recommend some good mortgage lender in san diego?We Answered:In the general sense, the lender does not have to be in San Diego. Your information is not very exact as to what you mean by excellent credit score and good loan to value. However, if you mean a FICO over 720 and LTV less than 80% LTV, you are to be able to get good rates even from a major bank where you are a customer. If you want to shop visit http://www.budgetrealestateloans.com and provide more precise information or ask a questions. Your closing costs will be kept at...
Phillip Said:what qualifies as a second home for mortgage loan?We Answered:Yes! Well... no, not since you just told us it will be rented out. Investors will consider it a second home if it is;
A) not going to be rented out.
B) farther than 50 miles from you primary residence.
C) in a place where people would typically vacation.Eduardo Said:Is it possible to get a second home mortgage?We Answered:Yes, of course, most adults over 40 or so have multiple mortgages. There is nothing at all unusual about that. Obtaining 2-4 is easy, after that it gets tougher.Pauline Said:Buying...
Jason Said:If I pay off my first mortgage, and still owe a second, can the second mortgage company foreclose?We Answered:Yes, as you pledged your house as collateral for that 2nd mortgage. It's secured debt!Crystal Said:My second mortgage company recently sold my acct. , the new holder is acting aggressive, will they foreclose?We Answered:Depends on the facts, if the new owners bought the second loan including the security interest on the property and depending on how much equity you currently have on the property and how much pennies on the dollar your second was purchase for,
It maybe financially feasible...
Adam Said:Need Advice: What happens to the second mortgage after the home is foreclosed. Does the 2nd mortgage disappearWe Answered:Although the foreclosure may have eliminated all of the junior liens, the loans continue to exist. The mortgage is the security interest in the property, that secures the amount due on the loan. Even when a mortgage is removed, if the loan is not satisfied, the loan remains due and payable. The loan and the mortgage are two separate documents.Mary Said:is bill consolidation using your home on a second mortgage a good idea?We Answered:no man.
never roll unsecured debt(c.c.)in...
Bessie Said:Where can I find information on clean energy loan financing?We Answered:I believe in solar panels, but not enough to ruin my family's life with debt.Derrick Said:I bought a second mortgage?We Answered:Actually its depent on whats in your mind. If you think there is another way that you can have profit back... There will be !Elsie Said:My mortgage bank is offering me to pay my second loan at a reduced amount. Should I take it?We Answered:I'd jump on that immediately. That's an unbelievable offer. Go talk to a CPA and see what the tax consequences might be. ...
Casey Said:How do I, as a lender, report a borrower's default on a loan to a credit agency for a second Mortgage note?We Answered:They are on a contract for deed on the 2nd. So they have every right to try to sell.
Quit bothering trying to report it to the credit bureau. There is zero benefit to doing this, and would prevent them from being able to refinance to pay you off.
Make sure your 2nd note is recorded at the county, so they can't sell the property without paying you off. And if there...
Kelly Said:How do you subordinate a second mortgage?We Answered:I have successfully gotten subordination agreements from Chase. They have a form to fill out, will want $100 or $200, & more than likely will want a copy of your appraisal. It will depend on what your CLTV will be. And they do NOTHING quickly. I agree. This is basic mortgage 101.Esther Said:Isn't a second mortgage included in the approval process of a short sale?We Answered:Your daughter is the first of many whom I'll afraid are going to deal with this.
The short sales was agreed to by...
Tyler Said:which law covers a second mortgage loan after a foreclosure?We Answered:I'm carefull not to get thrown off here while I try to help others (wow) But, Bush passed legislation about negotiating a short pay and no tax applicable - that is not really your deal as you are n default. First, so what, it happens. Second, you have a deficiency judgment against you by the lender and they knonw that is not allowed. There is a legitimate and proven technicality the lenders do not want you to know about. Wake up America, These guys are predators and you don't...
Hazel Said:Can anyone suggest a good mortgage company that works nationwide?We Answered:Countrywide for sure, but don't expect a low rate on investment property with a 653 fico.Gary Said:what are the mortgage rates for second mortgages?We Answered:They vary but are usually higher than the first. I'd say somewhere around 10% to 12% is a good ballpark. Of course credit history has something to do with this as well.Carlos Said:When is interest rate set on a second mortgage?We Answered:Technically, you can benefit from a decrease in rate if you have not locked in your loan. The likelihood of that happening is slim...
June Said:If you become self employed, what and when do you have to tell your mortgage lender?We Answered:providing your still living at the house and more than 40% of the house is occupied by you and your family you dont need to tell them anyting... if you are using the premises as a place of business and occupying more than 60% with the business or renting the house you may be violating the terms of your mortgage.....Michael Said:How do lenders calculate how much the self employed can borrow for their mortgage?We Answered:Hi there,
Self Employed Mortgages differ from lender to lender....
Johnny Said:Self cert mortgage?We Answered:Get in touch with these guys:
http://www.freshmortgagesolutions.com
They got us the right mortgage in the middle of a complicated situation (I won't bore you...)
Hope that helps.Lewis Said:Does anyone know of an understanding nonconfirming home lone lender in Queensland?We Answered:Fill out the free evaluation form at
www.totaldebtsolutionsllc.com
and a loan officer will contact you Monday.Ana Said:Should I allow my home to foreclose?We Answered:If you bought the house before you got married and your husband isn't on the mortgage paperwork.... then his credit should be safe.
But since I don't want you to make major financial decisions on my advise I would suggest...
Ann Said:Beware of Countrywide Bank Lending "Impound account set up"?We Answered:Ultimately, you are always responsible for property taxes or assessments. So if the county has a website, it is best to find out previous taxes on that specific property, or whether they have a way to "estimate" based on value (since Proposition 13 or tax on an empty lot before new construction might make previous taxes artificially low).
And it is best to check the county site to track if your lender is properly paying your property taxes from escrow on time.
I had problems with my lender neglecting to pay...
Antonio Said:how much mortgage will i pay monthly if i borrow £34000?We Answered:Over 25 years at 5.25% = £206.09...
Javier Said:Mortgages with a 5% deposit? UK?We Answered:Check out www.charcol.co.uk and look at calculators online to find out what products are available with a 5% deposit or contact a mortgage broker in your area (your estate agent might be able to direct you to one). They can search the market for you and state the interest rates/fees you'll need to pay. In this current economic environment, a 5% deposit will limit your mortgage options and you may pay a higher than average interest rate on your mortgage. You may need to consider saving up for a 10%...
Joan Said:When should I refinance my mortgage?We Answered:Now would be a good time I think because interest rates are set to rise again. Have you considered seeing an independent mortgage broker? They have access to lots of different banks and home loans. Sounds like you are probably doing the right things if you've paid off your mortgage by so much already but don't be afraid to find a better deal.George Said:I have a balloon payment coming due on my home mortgage, should I refinance or pay cash?We Answered:While there are many guidelines, it's generally your own financial...
Lee Said:When is a good time to refinance my car, or should i trade in for something else?We Answered:You must either be a first time buyer or have bad credit to get a 21% rate.
Either way, if the lender you financed with reports to the credit bureaus? You need to make at least 12-payments as agreed and make sure they show up on your credit.
After 12-payments show on your credit, you should have no problem refinancing your car at a lower rate because you will have a established pay history.Erik Said:How do I know if I should refinance my mortgage?We...
Erik Said:Mortgage programs with stated income borrowers?We Answered:If you could get a better LTV it would help a lot, you're skating too close to the line even with a non traditional lender. Do you have a credit union available to you? That may help. You would be A paper with an 80/100 LTV. Can you get documentation to prove that property values have risen to that extent or is your market stagnant or has gone down, those are all factors. Whatever you do don't have all these people look up your credit score or it will go down, you probably...
Hector Said:Who are some of the best subprime direct lenders in mortgages for southern california?We Answered:Check out the following sites:
http://www.brokeruniverse.com
and
http://www.scotsmanguide.com
Both have search engines designed for what you are needing....
Susan Said:Who are some Subprime Lender websites who still giving mortgage loans?We Answered:Subprime has gone away. Sorry...you missed that gravy train about 2 or 3 years ago. Conventional loans had all of the subprime. Now you can't get a conventional loan with out at least a 640 credit score. Most are over 680 if you aren't doing 20% down. Reason being that if you don't put 20% down you have to pay PMI. PMI companies will only do LTV of 95% and require a 680. So you will need good credit and 5%....
Evelyn Said:Can you list the reasons you think houses prices went up so high during the housing bubble?We Answered:The Bush family has been stealing money from real estate for a long time, and they manipulate the market to make it easier for people to get loans so they can be foreclosed upon later.
Was anybody fooled when Li'l Bush talked about "everybody should own their own house" back in 2004??? He was setting up the table for his banker friends (and his own family) to start raking in the cash. And now Americans are losing their houses...
Helen Said:Why * were * Mortgage Lenders WILLING to lend to SUBPRIME borrowers ??We Answered:Because they made a HUGE profit off it. Its all about the allmighty dollar. Credit card companies dont care if they are charging an old lady 30% interest b/c she was one day late on her payment, whats the difference. All of a sudden, the mortgage lenders are supposed to "care" about the consumer, but no other corporations do. Doesnt make sense. People want to blame others, not take the heat for the fact that they really couldnt afford the 500,000 dollar...
Ronnie Said:Can we switch mortgage lenders?We Answered:You signed a loan contract with a certain company that lent you the money to purchase your home.
You are now not allowed to just decide that you want to change mortgage companies, call another mortgage company and they take charge of your mortgage.
Most mortgage companies hire someone to collect the monthly mortgage, so the company you might be dealing with may not be your lender. They could simply be the collectors of the mortgage. They collect mortgages for many mortgage or lending companies.
You may refinance the house if you have enough equity to do...
Elaine Said:"Honk if I'm paying your mortgage" bumper sticker... I'm sorry am I missing something here?We Answered:The Republican party is floating around in half truths and inflammatory sayings. That's the only thing they're good for these days.
That being said you are correct about your neighbor.Antonio Said:Father charged with Aggravated Assault from trespasser?We Answered:Sound advice? Hire a lawyer and defend. The trespasser did not issue a warrant and cannot press charges. That court issues warrants and only the prosecutor can decide to press charges. The person probably gave a different version of the events to the...
Jennie Said:Mortgage business in Texas?We Answered:I am a mortgage broker in Ohio. I have been generating my own leads for two years now. I am about to close on a loan for 340,000 that I self generated. All you have to do is run a small add in a small neighborhood newspaper. Say something like why rent when you can own. Homes available now in _____. Call for details. When you take the call, tell them who you are ,and see if you can get them done. Once you get them done ,than contact a Realtor and say," this guy...
Velma Said:Need help with mortgage ideas for refi-ing and lowering payments?We Answered:I am from Texas too, so I know a little about the laws there. Let me start by saying Texas only allows 100% finance option at date of sale. Some states will allow up too 125% of value financing. Our state is unfortunatly not one of them. Having said this even if your home appraises for 230 you will only be able to finance 80% of that amount. So if you owe 172 on it know you will only be able to borrow 184 now (if it appraises for...
Judith Said:Mortgage lender?We Answered:The one that gives you the lowest rate with the lowest closing costs. Otherwise, who cares, it makes no difference at all who services your loan....
Ronald Said:Who is the best mortgage lender? I have been dealing with two?We Answered:There are no loans that do not require a down payment.....excepy a VA loan. If you are a Veteran or presently in the armed forces and with enough entitlement available you qualify for a VA loan. I would assume if you are being offered any other kind of loan that allows 100% finance you are dealing with a sub-prime lender...........and unless you live in a cave you have heard all about the dangers of getting a sub prime loan....
Dale Said:Finding the best mortgage rate, credit ding?We Answered:http://loan-seeker.info/mortgage-loans/ has mortgage requirements, good lenders and mortgage rates, how to get approved for a mortgage, and all other laws and information.Michele Said:I live in Florida, Palm Bay. Looking for the best mortgage rate. Is anybody could give me some advise? Thanks.We Answered:One point is 1% of the loan amount and should be able to get you at least .25% better in interest rate. Get some referrals. Do all of your shopping in one day. Compare costs as well as interest rate. Tell them you have a signed purchase agreement, closing within...
Greg Said:in georgia, which bank is giving the best mortgage rates?We Answered:I would go to a bank. Look at places like CitiMortgage or Lendingtree they can almost always beat a local banks rates...
Kimberly Said:What is the best mortgage thing 30 years fixed or 30 years jumbo?We Answered:fixed. definately.
of course the more years you go, the more interest you pay in the long run
but yeah i have a 30year fixed on my home, and everything is reliable and steady.
dont do jumbo.. cause they can surprise you and increase it some months n it gets all confusing..
go now though! interest rates are decentWendy Said:When buying a home, what is the best lender to use for a mortgage?We Answered:Wells Fargo is good because they are an actual lender - they aren't going to sell your...
Kent Said:Who has the best mortgages for first time home buyer in St. Louis Missouri?We Answered:if you have a 620 you can look at mycommunity....it's zero down....otherwise you can use the FHA with 2.25% down payment.
make sure to get the seller to pay for the closing costs!!!
*710 is good but it will not change your rate on the government programsRicardo Said:Does Lending Tree really have the best mortgages available?We Answered:If you're interested you could look into hard money lending. There is a great website out there, http://www.pitbullmortgageschool.com . You should check them out.Jacob Said:If you have bad credit...
Francis Said:Can the bank sell the mortgage on the foreclosed home to another bank when you're under contract to buy itWe Answered:I'd never heard of it either, but it's surely legal. What I don't comprehend is why another firm would buy paper in foreclosure. Doesn't make sense, but sounds like they did it.
At any rate, it doesn't sound like it's going to cost you anything other than more time to resign all the documents.
Good luck with your new place.Mike Said:whats the better bank for a home mortgage in washington state, wells fargo or banner bank?We Answered:Actually, Chase is...
Christy Said:Can a mortgage company keep money from a homeowners insurance settlement without paying contractor?We Answered:file your contractor's lien on the property immediately. [you did file the necessary building permits and forms, yes?]
then sue. you argument in court is that because your work was necessary to get the house into salable condition, your lien should be paid before the mortgage, just as if the mortgage company had foreclosed and hired you to repair the property.
and get a competent attorney -- who ever drew up your present contracts seems to be a fool. your contracts should have required...
Lawrence Said:How can I convince my mortgage lender to lower my interest rate?We Answered:You really have no control over your interest rate. You can try to plead that you don't have the money if it increases, but... tough ****. You can try to compare interest rates in your area, but it won't do any good because the terms of the loan you signed are unique.
That's the entire point of an ARM, the interest rate stays low for the first few years, then is subject to increase after that. Sorry if you don't understand this, but that is not your lender's...
Robin Said:What sources does one use to find jobs and mortgage lenders in Houston, Texas area?We Answered:the houston chronicle, yahoo hotjobs, alot of jobs are posted online.
you just gotta search for them.
Leslie Said:I am buying a house, the outside wall is single brick, why is the mortgage lenders giving me hassle?We Answered:a single stack can fall away from the home if it was only stacked and not layed into the foundation like a rod and concrete would have been. Tell them it is attached to the wall on the inside by flat PCs of metal called lath...
Jesus Said:Can I sue a mortgage company?We Answered:http://diylegalinfo.com/lawsuit_Links.html has help on how to file a civila lawsuit, class action lawsuit, and how to file a lawsuit or sue someone....
Brian Said:Obama supporters answer this?We Answered:He has been out-raising Hillary by about that same proportion, so it's not surprising. But what can't be said is that Hillary has more support from the average American donor than Obama. And McCain can't even come close.. His scrupulous business monetary support will come in time as he is the Republican nominee.Allan Said:Do you think Obama's going to help with the mortgage problems?We Answered:Maybe he can take his limo around to few people who are getting foreclosed on and give the hope,and change.That's after he goes to Church with Oprah new age teacher.To help...
Janet Said:want to buy a home but need extra money to pay off other loans, what banks will do this,and names off banks?We Answered:No banks are doing that.Robin Said:How may PAC's be linked to the current mortgage/banking crisis?We Answered:It depends how you want to connect the PACs (political action committees) to the mortgage/banking crisis. Do you want to see if the PACs gave money to certain members of congress or other elected officials? You'll have to do the research on the reports filed by each PAC which list the politicians who received donations and the individuals and companies...
Stacey Said:What benefit in voting[AGM] for the same Fatcats to run my Nationwide Mortgage company?We Answered:To vote for the same 'Fatcats'. The fact that they are well fed also means that they are able to run the mortgage company properly and profitably. Your voting in the AGM is a vote of confidence to them and for them to continue running the company.Eva Said:If a sole breadwinner of a household earns about $150,000 per year, how high of a mortgage will a bank allow?We Answered:Depends on the type of mortgage.
1. Are you A paper or sub prime?
2. Is the mortgage fixed,...
Rachel Said:Which company offers the best Mortgage Insurance for price, *AND* quality ?We Answered:Since this is more of a financial guarantee, there is no regular insurance company I know of that writes Mortgage Insurance. I believe most loan companies have mortgage insurance companies that they work with. I would recommend speaking with your mortgage broker to get the information on coverage.
Good luck to you!Jaime Said:my mortgage company keeps posting my payment to credit instead of payment. i have talked to mgr. what can i doWe Answered:Send a letter to the bank president explaining the situation and informing him/her...
Lydia Said:how do i serve a writ against my mortgage lender for mis-information?We Answered:Financial Ombudsman Service Ltd. South Quay Plaza, 183 Marsh Wall, London E14 9SR,
These are the people to write to, they regulate the Banks, and will investigate your complaint for free. I have used them with good results. Note that it could be a few weeks before they get back to you as they are very busy.
Good LuckJustin Said:Mortgage Lender company asking for too much money in short notice?We Answered:Most likely, the taxes being collected are legit. Going FHA does not matter.
Unfortunately, these are not fees, but...
Lawrence Said:Can somebody explain the stimulus package to me?We Answered:Sadly, fixing the problem isn't the main goal of this bill. The Democrats were planning to go this direction (towards a France-like socialism) before this economic crisis hit. Never mind that Democrat Barney Frank (among others) dismissed concerns about sub-prime mortgages. Never mind that he called the representative from the Congressional Budget Office "incompetant" and possibly "rascist" for bringing up the matter of Fannie and Freddie back in 2004! No, Barney gets a pass, because "he loves me, I love you."
They do not want to "fix" the...
George Said:Are Tea Party Ideas an Easy Sell or a Hard Sell in USA in 2010?We Answered:Easy minds, easy sells. It is just that simple. The tea party (at least their official website) has said they want lower taxes, less government control etc but their 'constituents' are hardly that focused. They include the racists, the bigots, the 'birthers', etc. The fact that the tea party candidates have no actual plans after the words above show they aren't riding on policy and planning but on other undertones which aren't so 'under'.
Great arguments, well thought out.Colleen Said:Are Tea...
Janet Said:Why did the former CEO of Countrywide receive a $62 Million severance after causing the company to fail?We Answered:He's a criminal. He engaged in unethical practices or so some employees allege. Isn't it obvious who the Republicans support? The democrats would not allow this to happen (real dems).Eugene Said:What will McCain do about our economy and the housing crisis?We Answered:Actually McCain has already voted to expand the FHA program and the raise the fannie mae and freddie mac limits. This has all been done in the past 6 months. Too late? Yup, but both parties are at fault. This...
Howard Said:with super low mortgage rates and the $8,000 tax credit are we headed for another disaster?We Answered:we truly need to get back to the day that when you bought a house it was a sense of feeling proud because you did the right think work hard had good credit now it makes me mad and this is not a race issue or a social issue but it makes me mad that I live in a now 150.ooo dollar house and its ladies on section 8 living next to me making up a great deal of noise and...
Mabel Said:Okay, my little brother's gotten himself into quite a mess- HELP!?We Answered:How long did he live in the home? If it was over a year, you should be able to rent it out with little legal dificulties as most "Owner Occupied" provisions will have been met.
The moment that the house is caught up in mortgage payments, refinance that bad boy into a 30-50 yr fixed.
You can cover your own home payment and his? Sweet. What job do you have, and how do I get it (or a similar one). =)
This may save his credit, but how much...
Anthony Said:Why did Bush ask/order fannie mae to make 440 BILLION in subprime home loans to minorities in 2002?We Answered:He done that for financial gain first for his friends and himself the second reason was that most of the time minorities are discriminated against the first reason was really what he wantedRobin Said:Why does Fannie and Freddie keep getting blamed for the economic crisis?We Answered:Straw man argument. No one is claiming that Fannie and Freddy were making the loans themselves.
What they were doing was announcing that they wanted to buy these bad mortgages. The banks obliged by making more bad...
Gabriel Said:Can I sue my employer ?We Answered:if you signed a warning that wasn't true just to satisfy them you made a mistake, if you are fired for cause which usually is documented . i.e. written warnings you cannot collect Unemployment, you have to be layed off, sounds like they do not want to pay their share of unemployment, I wouldn't sign anymore warnings unless they are accurateVirginia Said:How would you handle this - hubby, in-laws...?We Answered:be the bigger person, hand him the cheque, and NEVER ask them for anything. I would just keep it to the minimum with...
Tommy Said:Need a different type of home loan with lower payments?We Answered:You can't touch a 5.5% fixed rate right now if you searched every state in the country, without paying points out the wazoo.
If you have no equity, then you cannot do a debt consolidation loan.
However, if you are moving in 5 years, my recommendation is to sit tight until you sell. Between closing costs, etc. There is no way you are going to "break even" in 5 years.
I wished you posted how your down payment assistance program worked, but at only $20K, when the bulk of your...
Vernon Said:Does anyone know if there are any types of first time home buyer loans out there to repair houses?We Answered:The following is a summary of information about an assistance program or grant available to individuals or families through an agency of the U.S. Government. ("CFDA No." is the program's listing number in the Catalog of Federal Domestic Assistance.)
CFDA No. 10.417 VERY LOW-INCOME HOUSING REPAIR LOANS AND GRANTS
CATEGORY: Housing Assistance
OBJECTIVES
To give very low-income rural homeowners an opportunity to make essential repairs to their homes to make them safe and to remove health hazards to the family or the community.
TYPES OF...
Claire Said:Can anyone tell me what type of mortgage loan this is called?We Answered:Unlikely. Unless the seller is providing the $125,000 financing, you'll have to reveal the purchase to the lender and tell him you want money out. Then the property will have to be appraised by the lender's appraiser for $210,000 to allow you an 80% loan. That will pay off the $125,000 and leave you enough to do what you wish.Rick Said:what is the difference between Alt B type mortgage loan and other types of mortgage loan?We Answered:I am not really sure of your question..But...
Robin Said:CHRISTIANS: Have you ever built a home inside a haystack?We Answered:Brittan ain't free any more either....
Lance Said:(UK) one account mortgage - what are the catches??We Answered:When both of you apply a mortgage to a bank. And after the bank had studied your particulars, especially both your income and savings, they may offer you an option to take a one account mortgage. With the terms and conditions as in the mortgage agreement or as what you mention in your question. There is no pitfalls, if you confine strictly to the arrangement, that is to pay in your savings and income plus the monthly instalments promptly....
Cheryl Said:How worrying are Pensions in the UK?We Answered:Very worrying! Since the chancellor decided to tax pension plans the situation has become very grave. I have had friends who paid into a pension plan for 29 years and have lost everything! I really do not understand how insurance companies and fund managers can not be prosecuted for fraud there have been so many people fleeced of thousands. Most of those who have lost money are just ordinary people who thought they were providing for their old age. Company pensions have been the worst losers. ...
Mark Said:who is the uk's biggest mortgage lender?We Answered:Historically it has been HBOS (Halifax Bank of Scotland) with a share of 18-21% but they had a disastorous 2007 first half with there share of the market slipping to 8%. (They have said they expect this to recover though back to the levels mentioned above)
Otherwise Nationwide (Approx 20%)
Northern rock (Approx 19.5%) (Note they in the top 5 but I think they are better placed than 5th)
Woolich- 8%
Bradford & Bingley- 9%
HSBC- 3.5%
PS- I work for HSBC...
Fernando Said:Who Are The Major Mortgage Lenders In The UK?We Answered:Abbey - Abbey, Alliance & Leicester, Bradford & Bingley
HSBC - HSBC, First Direct
RBS - Royal Bank Scotland, Nat West
Lloyds - Lloyds, HBOS
Nationwide
Northern Rock
are the usual ones- also one or two smaller building societies on a local levelCasey Said:Who is the most honest and fairest mortgage lender in the UK?We Answered:A borrower should constantly be making efforts to place him self in a better financial position by looking around for loan products that are cheaper. Remortgages for the UK residents are considered and are popular as source for borrowing...
Stephanie Said:fixed rate UK mortgage ending! struggling single parent with poor credit history?We Answered:Sell the house.... the intent of a adjustable rate mortgage was for you to refinance the house long before the "adjustment" date rolled around or sell it with a profit and pay off the loan within the teaser rate period of time.
Of course... reality came in between you and Utopia and now you are stuck with a house you can't afford. that is what it is.... a house you can't afford now and never could afford. You paid rent to a mortgage company and will have...
Jimmy Said:Should i move my mortgage to a tracker rate now that Int rates have dropped in the UK?We Answered:Moving to a tracker rate won't necessarily make it cheaper. It just means it tracks the Bank Of England rate.Sue Said:Anyone know if the UK mortgage interest rates will follow USA's 1/2 percent drop?>?We Answered:If I knew that I would be making a fortune in the money markets.
My guess is a 1/4percent drop.Jeanne Said:what are the current average mortgage rates in the UK?We Answered:Yahoo UK finance pages are excellent for this.
http://uk.biz.yahoo.com/mortgage/index.h…Gilbert Said:Does my mortgage rate go down if interest rates are...
Leah Said:Need advice on mortgage process?We Answered:I have never heard of this practice before...If you feel the mortgage lender is a reputable company then I'd simply make a call to them asking if this is a service they provide and how much is would cost...might be that they guy is without a job if it's not something they provide but then better him without a job than you without money and a house...Carol Said:I applied for a mortgage, I met all the guidelines and was approved. At the last minute they turned it down...We Answered:I'm a mortgage consultant with a...
Virginia Said:How many US auto loans and home mortgages financed by banks are out there?We Answered:Go talk to an officer at your local bank. There are many tens of millions of each, but I don't have exact data.Misty Said:Can I lend money from a US bank at their lower interest rates for a home mortgage in Australia?We Answered:You can probably find that banks in Australia can arrange foreign loans for you. They will take care of the details.
Note that this is risky behavior. If the exchange rate goes the other way, then you can get f*cked up...
Elmer Said:so far all mortgage lenders are asking us to wait two years until we can buy a house.?We Answered:Acermill is correct. This is not normal, there must be something you need to correct and for some reason they think it will take 2 years to correct it. I can't think of what that could be unless you are 18 and have no credit.
The loop hole is to pay cash.Penny Said:Need a good mortgage lender and program for us?We Answered:In order to find out the type of loan programs you are qualified for you will...
Richard Said:How do lenders work in terms of pre-approval?We Answered:In general they will send you loan information in a good faith estimate that will detail the loan amount, payments, etc. From this you can make the choice as to whether it's something you want.Nathan Said:How do I find more capital for Real Estate Investments?We Answered:Your only remaining option is a partner. You enter into all future deals with 2 of you as purchasers. In return for future profits, the partner provides money today. You could advertise for partners. With bank CD's paying 1% interest, you could offer 10% interest...
Francis Said:anyone do a FHA or VA home loan?We Answered:you are very correct! Peeling paint, issues with siding and lack of railings are the biggest issues. Electrical outlets must be grounded or gfi's installed> termites is another biggy!
Usually easy fixes, just make sure it is done before the appraisal in conducted.
Good Luck!Patsy Said:VA Home Loan Assumption?We Answered:See here: http://www.valoans.com/va_article.cfm?id…Teresa Said:What is a wellness letter requested by the lender for VA home loans?We Answered:I am Joy Anderson i was in need of a loan of $100 000 USD and was scammed by those fraudulent lenders and a friend introduce...
Charlie Said:will the current economy make it harder for me to get a home using a VA loan?We Answered:Nope, acutally just got one a month ago, be prepaired for all the paperwork though.... ...
Ellen Said:How can I find a VA construction loan lender?We Answered:Are you a member of USAA? I know they hand VA loans. Most banks do as well, you will need to get your preapproval, I believe you can apply at www.VA.gov, they will send you a certified document stating how much you are approved for and then you take it to pretty much any lender. If you find a lender you like they will help you through the process and probably have a way to fast track it. Its pretty much the government co-signing on your loan, that they will...
Beth Said:out of state mortgage lender question?We Answered:she is trying to get you to use her lender cause they will get the cash to settlement on time but you have the right to use lender that you want if she keeps trying to get you to use her lender i would look for another agent to work with and i would look at reporting her for her actions cause this is very unprofessional of her you can check with the va if your not sure what to doSam Said:approved lender by veteran affairs for mortgage?We Answered:If your rate is low...
Clara Said:How can I find lenders that are authorized by VA to do automatic processing? Is there a directory?We Answered:http://www.ezratequotes.com/LoanApplicat…
http://www.alamode.com/DirectoryGenerato…
http://www.mortgageloan.com/Mortgage/Vir…
http://www.mortgage-lenders-plus.com/mor…
http://www.business.com/directory/real_e…Elsie Said:Where to get a VA Home loan mortgage for low income but good credit, cautch 22, MINNESOTA?We Answered:It really depends on your wifes credit score. With FHA if she has over a 580, normally that's not an issue. If it's over 560, it is more difficult but can be done especially since your credit score is good. 530-560 we can still do but this is a very difficult loan to get through and we have to...
Ruby Said:Can the lender go after the buyer after a Foreclosure in VA?We Answered:if the bank takes your home and sells it for 200,000 and you owe 300,000, , yes they can and in all probability will come sue you for the difference. In the event they don't, (i would be surprised) you will get a 1099 for the 100,000 and you will owe fed and state tax on that amount. I hope you get it worked outAlvin Said:How do you find out who the lender is for my home in VA. I am renting & my landlord...
Karl Said:Can I sue lender in federal court?We Answered:Virginia Supreme Court Rule 5:9, provides that an appeal will be considered only if a Notice of Appeal is filed within 30 days of entry of the final order in the case. If a hearing was held on 03/02/2009, and the judge dismissed the case, when was the order from that hearing entered? The clock starts running from the day the judge signs the order (not the date the judge announces the decision in open court, or issues a letter opinion).
As for whether it could be refiled in federal court......
Kevin Said:How do you sell a house when a family member is the lender and your mortgage is not paid off?We Answered:The same thing that happens when you get a mortgage from the bank. You sell the home and the proceeds are used to pay off the unpaid mortgage.
Your father should record this mortgage with the county.Tommy Said:Am I entitled to a refund of my deposit when a mortgage lender says he cannot finance me?We Answered:no. when he says "I cannot finance you" he really means you are a bad risk and are unfinancable, if that's a word....
Lawrence Said:what is the roman catholic belief about abortion if the mothers life is at risk?We Answered:Ah I just wrote a paper that deals with this that I'll be presenting at a conference soon. The current Roman Catholic teaching is that an abortion is never to be willfully procured. If there is a case where the mother's life is in danger, a medical procedure (like a hysterectomy) may be performed that saves the mother's life while at the same time ends the child's/fetus's.
The doctrine that is used is Aquinas' Principle (or Doctrine) of Double Effect. ...
Ronald Said:Which Mortgage Lender is not so strict? who give the best rates?We Answered:Ummmm are you telling me that you have provided amended (falsified) accounting information to a bank for the purposes of obtaining a loan? This is called bank fraud and is actually a felony in the states. I suggest you try another tactic. My sense is that if you need to lie, you should not be getting this mortgage anyway....
Priscilla Said:Does any mortgage broker know of a wholesale lender loaning over 100% CLTV?We Answered:Go to Scotsman Guide - they have postings by lenders of available programs. You can also post your scenario and have lenders respond if they can work with your loan.
Good Luck!Louis Said:I am looking for a list of wholesale mortgage lender web sites?We Answered:If you're a mortgage loan officer looking for lenders your best bet is the Scotsman Guide. They a great search engine on their site, www.scotsmanguide.comAmy Said:Is there wa way to sell your house mortgage to a wholesale correspondent lender?We Answered:lenders dont...
Clayton Said:I have a question about Line of Credit and possible mortgage fraud.?We Answered:I would look for a lawyer or attorney that specializes in that field and/or find out who the district attorney is that imprisoned them and notify them of your situation and if there is anything you can do, write a letter. Notify the BB&T co. that you are disputing their fraudulent account.William Said:Does your boss ever give you something ridiculously impossible to do at work that can't be done?We Answered:Yes he asked me to take his mother-inlaw out. or face the sack' i chose the sack' cause...
Janet Said:Question about legal loan process.?We Answered:You may find it impossible to read everything before you sign it, but it is not impossble. I have done it several times. We take a break of an hour or so and I read every word. If you sign stuff blindly, the conclusion is that the terms don't matter to you and you would have signed it regardless of the terms.Sonia Said:What kind of violation is this.?We Answered:Your question gave me a headache.
I would suggest strongly that you contact an attorney that specializes in real estate.
To me it sounds...
Janice Said:Mortgage Loan sales-what are the pros & cons of wholesale vs. retail sides of the fence?We Answered:You are now into an industry where you need to work, work, work and work. Really, Mortgage business are getting more harder day by day as the Interest rate are rising like anything.
Basically mortgage business is a referal business but most of the Loan officers do not get refrences in the beginings. So they left demotivates.
According to a survey 80% of the loans are closed by 20% of the Loan officers and the rest 20% of the Loans are closed by the other...
Javier Said:mortgage lender problem?We Answered:Man, I'm sorry to hear about all of that! I just can't believe it! I am going through some trouble right now; I was trying to buy my first home & got screwed & pulled along for 3 months; paid out over $4000 for nothing! Anyway; I think you should do what I am about to do! REPORT them to the Attorney General's office Asap!! Then maybe they will consider answering your calls! lol If I could afford it, I would pack up & move to another country to pursue the American Dream also! lolAnn Said:I...
Jeanne Said:I want to get a zero down mortgage in Arizona.?We Answered:You are wanting to get a loan which currently isn't being offered much any more. These kinds of loans are mostly the cause of the current crisis. If, and that is a big if, you can get a zero down mortgage with the incredibly low monthly rate, you will have a huge interest rate. Talk to some mortgage consultants if you don't believe me, good luck you silly dreamer.Jean Said:Is there any programs for property managers to purchase investment properties with zero down mortgage?We Answered:Not any more....the days of...