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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 or a person out of work. But you can help them out. What good is writing off a trillion dollars in bad debts.

4. Outlaw credit cards and pay-day loans to everybody, this is what got many people in trouble to begin with. And now people with $800 and more in credit card payments can't keep their homes. This is a scandal that keeps on giving. And it is worse than loan-sharking.

5. Make money management a mandatory course for anyone needing a loan. People have to know how to live within their means.

6. Knock of the welfare and food stamps for those who will not give back in their communities in for of work-fare, and volunteer in gardens.

We are a strong nation, only 10-12% out of work, that means at least 85-88% are willing to work, and are employed. We can and must help each other, but not in give-aways.

Victor Said:

What are the best Mortgage lenders out there with the lowest interest rates and the lowest closing costs?

We Answered:

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Mildred Said:

Are Mortgage Companies allowed to give an Adjustable Rate Mortgage(ARM) to lenders of a certain age?

We Answered:

what law requires that lenders violate the fair housing act?

i wouldn't think that they could discriminate on the basis of age for ANY reason. it is illegal.

Ross Said:

What do mortgage lenders look at when deciding to qualify you?

We Answered:

1) your total debt payments / your total income before taxes
2) delinquent and past due account balances on credit report
3) cash balances in your checking, savings and investment accounts
4) FICO score
5) Collateral value of property you are buying (they get it appraised)
6) last year W-2's from your employers

Lori Said:

Is it true that mortgage lenders specifically targeted black families in order to make a quick buck?

We Answered:

you may "friend" are a TOLL looking for a fight.

Lenders DID NOT do this. In fact, it was the black caucus of congress that actually push Freddie and Fannie into loosing credit requirements to increase home ownership for non-whites.

Jimmy Said:

How to find a best mortgage lenders, in terms of rate, fee and service?

We Answered:

check online...easiest way to go...