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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 has loud music playing constantly I am a RN i NEED MY SLEEP I just wish we could get those good old days back when if you struggle and someone helps you ,you had respect and gratitude jesus!!!!!!!!!!!!!!!!!!!!

Jean Said:

what is a top-up mortgage? can i get one? (UK)?

We Answered:

I am not sure about the specifics, but if you have no equity or cash buying a bigger house will not help your situation. Working on building up some savings and reducing any debts you have. Then after making some progress re-assess your situation.

Kimberly Said:

mortgage table the horizontal scale that run all the way from left to right a cross the table top show the?

We Answered:

There is no single standard for this. If you could tell us what the numbers are, someone might be able to help you.

Jerry Said:

Is it best to pay off your mortgage or keep making payments?

We Answered:

OK, there are a number of reasons not to payoff your house, only one of them being the tax benefits. Think of it this way. You are currently paying about 6% interest per month on the money for your house. So that money you are paying off and that $14k you sent in, costs you 6% per year to hold on to.

If instead of paying down your mortgage, you give that $14k and each additional payment to your stock broker. He invests this in a moderate risk mutual fund. The mutual fund will grow (currently) at about 10% per year.

So by giving your money to a stock broker, instead of paying down your mortgage, you get 4% per year on that money profit. Plus, your interest of $150 a month in tax deductions help you as well.

Basically, you are using the bank's money to further your own portfolio which will grow faster then what it costs to borrow. Please let me know if I did not explain well enough.

Realize the risk however, stocks and mutual funds can lose money, if you pay your mortgage, it's saved. But even on a bad year, most reasonable mutual funds will make you over 6%. call any stock broker and ask them.

Good luck, and I hope this helps

Angelo Russo
Title Plus Services, LLC
arusso@titleplusservices.com

Eva Said:

What is the interest rate for high credit scores and the differences in rates?

We Answered:

I work at a mortgage broker shop, and I believe that we can offer better rates to certain consumers then banks can. Sometimes they can offer better then we can. Also, watch the total closing costs as well. I know we get wholesale rates from lenders and offer these to the consumers and just add a small fee to it, but if you were to go to these lenders yourself they would offer you RETAIL rates. This is how my shop works we try to do as much volume as possible and work mostly off of referrals so we try to beat any deal out there, but different places go by different rules. The prime changes from day to day as well so keep that in mind when shopping.

Do not let a lot of people pull your credit cause it could hurt you if you have excessive pulls, maybe only like 5 people in a months time or so.

Good Luck!!!!

Lawrence Said:

Do you think mortgage rates will top 7% this summer?

We Answered:

yes rates will go up. maybe to 7% also a large increase in short sales and REO's and the market will continue to tumble

Sheila Said:

What monthly costs are involved in buying a house/flat. Mortgage repayment will be £500/month but what on top?

We Answered:

You need to give a little more information, council tax is worked out on the value of your property and the area you live in. the south east is a rather large area. The lower end of council tax is now at about £100 a month and it goes up from there. Then you got to add gas - which can see you at about £40 a month, electric £50, water £20, tv licience is £11, digital/telephone/internet £40, add food, travel expenses and such like your gonna hit the £1000 mark if you don't go over it!