NLIC.org

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 guy

June 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 as you respond the faster the problem can be resolved.

Email: waynej@ymail.com

# (516) 227-2500 contour mortgage

Kim Said:

Do home mortgage companies use gross earnings income for loan applications?

We Answered:

Yes
Unless you are self employed!!!!
If you are self employed, or a contractor, they take what you make AFTER you claim deductions!

But, for regular working folk, they take your gross earnings.

Derek Said:

Does anyone know of any WELL-KNOWN home mortgage companies?

We Answered:

I've always gotten great service from US Bank.

I IMPLORE you to rethink the "buying a house with your boyfriend" thing though...If your relationship doesn't work out, you may end up at the cleaners.

I know it's not nice to think about and it's not sexy documenting your every expenditure, but you need to protect your investment assets...

...or you could just wait...

Good luck!

.

Lydia Said:

why are the Banks and mortgage companies crying about loses when all the home loans have mortgage insurance?

We Answered:

Actually, insurance companies have insurance. Ever hear of reinsurance? I know, it pissed me off to learn that as well. None of them are really losing which is why they keep getting richer. Did you know insurance takes about 12% of your net income? Auto, health, dental, life, unemployment, etc.

Also, the properties that don't have PMI are the ones where there is 20% I believe already paid up. That's why the PMI goes away since there is enough to recover from factoring in the house, insurance, etc., etc. It's a whole numbers game, but don't believe that the banks lose out. They've been practicing the art of banking for hundreds of years, you've been doing it for like ten? Whoever thinks the banks will lose on more than a tiny fraction of deals is in la la land.

Diane Said:

Why are the banks, loan companies, & mortgage companies forcing home owners into foreclosures?

We Answered:

I wish it were that simple. When you buy a house and get a mortgage you sign a contract. It is not only with the bank, but you are in essence being loaned the money by all the depositors of that bank. Us the people who loan you that money. The bank is our "broker" lending our money to "credit worthy" people. The house is the asset, the house is the property of the bank, until the mortgage has been paid in full and the transaction is completed. If the debtor defaults on the loan, it becomes the full property of the bank, and the debtor "loses" the house. the asset (house) stays the property of the bank. An Asset, beneficial to the owners, or us the depositors to the bank, Unfortunately there are too many 'foreclosed" homes on the market, and the Banks are having a difficult time selling the asset to make $$

Isn't it a little bit different picture when you think of it as YOUR money being loaned out there?

I don't know if I would want my Bank to "forgive" the debt and allow the debtor to stay in the house (asset) at a reduced dollar amount, perhaps only as a renter. Until the Asset could be then sold at a profit, thus making money for us the depositors.

There were definitely many unscrupulous brokers out there selling "bad loans and really raking in the commissions. A lot of people with really questionable credit got Million dollar homes which they never really could afford .

I feel sorry for everyone out there who is in a financial dilemma. But I can't help but wonder if they were just being a little too greedy and made bad decisions. Or lost their jobs; or whatever. We just live in tough times. SORRY!