Yolanda Said:Investment Mortgage Loan Question: Cashflow is everything?We Answered:Something isn't closing properly on your math. Your loan for the 90% of the purchase price in Option #1 is at 6.875%. That part is ok, but on the second loan with 80% at 7% and 10% at 9.14%, the blended interest rate on that package is 7.24%. Your higher interest rate option has the lower payment which doesn't add up with the statement that the both loans on the second option are 30 year fixed.
The rates may be fixed for that long, but the 10% loan...
Cecil Said:Is anyone offering an 80/10/10 loan or a 90/10 loan on investment properties?We Answered:No one, you need 30% down, from yourself, not another bank.Lauren Said:80/10/5 Home loan - conver to Home Equity Line of Credit?We Answered:There is no rule about not refiancing an REO for 3 months. I think the poster is confused with the flipping rule.
Your current 2nd is probably fixed so even thought the rate seems high, in the long run I doubt a HELOC would be better because it is probably adjustable..
$555,000 may be what the lender went with for your appraisal, but...
Christy Said:Have 80-10-10 mortgages and 80-15-5 mortgages gone away entirely due to the credit crisis?We Answered:Yes, these loans are gone.
The reason for 80/10/10 or 80/15/5 were to save the monthly PMI.
You can still do 5% or 10% loans. However, you have PMI. BUT it is now tax deductable.
Bonnie Said:Selling property to a LLC, bank will loan 80% Buy wants 90%. Second mortgage 10% I need personal guarantee.?We Answered:absolutely ... and from every owner of the LLC. Plus proof that those persons are the only owners. and a requirement that no transfer of the ownership of the...
Jeff Said:Does anyone know of any lenders who still currently do 80/20 loans?We Answered:Yeah, you can try lehman brothers bank, Aurora. I think they are the only bank right now that are doing the 100% financeRosa Said:Do 80/20 Loans Exist for Multifamily Investment Property?We Answered:The rules that apply to residential lending are not the same rules that apply in investment lending. This is the surprise that a lot of people get when they start trying to buy investment properties.
Truthfully, it will be very difficult to find and arrange and 80/20 loan for and investment property. I'm...
Fred Said:I have an 80/20 mortgage with two different linders and both are facing foreclosure how does that work?We Answered:If your getting foreclosed upon by both lenders, the property will be sold by the first, any extra that they receive from the sale will go to the second mortgage co. If the 2nd company does not receive the full amount of their loan depending on your state they may be able to go directly to you and sue you for the extra amount.Geraldine Said:Has anyone gotten themselves in over their heads with an 80/20 mortgage?We Answered:So you are tired...
Alberto Said:Can mortgage company pay utility bills after we moved out of our foreclosed house?We Answered:They can, but they are not obligated to. Those are still your debts as they were incurred when you owned the home (except maybe the lawnmower one)Allison Said:What can I do about a mortgage company checking my credit without my permission?We Answered:I would ask the lady for the name of the person at the original mortgage company who gave her your information. Someone is lying here. If she won't tell you, then you know it's HER (or her company). She might be pulling your...
Delores Said:When is the first repayment due on a new mortgage?We Answered:6 monthsHarvey Said:Does a Certificate of Title issued at Foreclosure guarantee a free and clear title?We Answered:No. A foreclosure does not convey clear title. A buyer at foreclosure obtains property that is free of all liens that are JUNIOR to the lien that is foreclosed. Anything SENIOR to the lien that is foreclosed will remain.
So, for instance, let's say this is the chronology of events:
1. Owner grants driveway easement.
2. Buyer buys property; secures $100,000 1st mortgage.
3. Buyer obtains 2nd mortgage of $30,000
4. ...
Leo Said:What is the best way to market a new mortgage company?We Answered:Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Hope that helps! I wish you much success & happiness in all your ventures!Oscar Said:What type of mortgage to get when buying new house before selling old one?We Answered:I wouldn't do a HELOC on your existing house because of the closing costs, possible early termination fees, and because...
Anna Said:Stay at home moms...have you ever thought thru an accidental death of your husband and what you would do?We Answered:You've made me really think here. I know I'd be okay - like another poster said - I know where everything is - who to call - etc etc.....if it were the other way around........I'm so going to make a box with all of that stuff in it separately just in case it's me that goes and not the other way around. (I hope not - I look forward to siting in my rocking chair on the porch with him,...
Gene Said:Where can i find affordable life insurance for my 81 yr old granmother?We Answered:medicareVirginia Said:What is an affordable life insurance for a cigarette smoker?We Answered:It depends on age, the amount of benefit and the term of the policy. You can visit this site for comparing life insures rate
http://free-best-life-insures-comparator-usa.blogspot.com/
Also, if you are looking for term or Whole Life. For a smoker I would suggest a 10 yr term policy for $150,000. It may cost you around $2,000 - $3,000 per year. If you quit smoking for 1 year your premium will decrease by half or more. I would...
Billy Said:How much spousal support should be in my case? marriage lasted 7 years, i did not let her work as I wanted her?We Answered:You neglected to mention how much her rent/mortgage is, How much she spends on food and clothes for her and your children, vehicle expenses. Medical bills (if this applies) utilities, phone, insurance and anything. once you calculate what she has left over i could answer weather she deserves $ 300 dollars from you.Ken Said:I'm interested in starting a home-based business in Alberta. I need help determing what I can deduct on taxesWe Answered:The expenses that...
Rebecca Said:According to John McCain, to be rich you gotta have 5 million dollars, do you agree with him?We Answered:yes I have to agree with him...
Diana Said:Do I have to have Mortgage Insurance?We Answered:There are several different types of mortage insurance. If you are referring to PMI you need 20% down to escape that. If you are talking insurance that will pay off your mortage if you or any other signer would die, that type is optional. It is only a good deal if someone dies, how much is peace of mind worth?ppAlex Said:My mortgage will be 80% of the home value, can I avoid paying PMI since I am financing only 80% .?We Answered:get a FHA 203K mortgage.....they will lend you extra money for...
Tina Said:Should I have to pay my mortgage bank to cancel PMI?We Answered:no thats unfairLauren Said:Can a bank require more flood insurance than the mortgage is worth?We Answered:Well, how much coverage do you have? If it is to rebuild this is reasonable. Also covering your belongings. If the insurance coverage tops out at 50k then I can not see how they would justify this....
Wanda Said:how long do insurance benefits last after you quit a job?We Answered:In most cases health insurance continues until the end of the month (or in the case of my last employer the end of the following month that you terminated employment). You'd best check with your employer's HR department for verification.
After this time you can continue your health insurance by utilizing COBRA coverage.(But of course that is expensive).
Hope this helps!Clinton Said:i have 1 rental property, a dba. is it better to go llc? will i gain tax benefits? will i lose the write offWe Answered:the other answer is...
Terrance Said:What's the best life Insurance place to go to that's good/ Cheap with high cover but also good for a smoker?We Answered:To compare life insurance companies around you, visit
http://free-best-life-insures-comparator-usa.blogspot.com/
Fill out the form, and you'll get the quote of life insurance companies at your place.Don Said:Best life insurance for me and relative?We Answered:You really need to sit down with an insurance agent and discuss your goals and the purpose of this life insurance.
Don't listen to anybody who states that you should only buy term, or that you should only buy permanent. Those people are ignorant as to the real...
Eva Said:What is the best house insurance to buy?We Answered:House insurance is insurance to cover your house, if it burns down or such.
YOU are talking about LIFE insurance, either a decreasing term insurance policy, or straight term. It's going to be rated based on how old you are, what your health is like, how much the mortgage is, and how many years you have left.
Ever thought about consulting an estate attorney, and putting the house in trust? Then letting the life insurance policy fund the trust, to pay property taxes, insurance, food, and utilities, after you pass...
Phillip Said:Is investing in the stock market a good idea to make a living from?We Answered:What you can do depends on how good you are. If you aren't good, then you are gambling- and that's luck. Given the hype and cons always around, it will probably be bad luck. If you can't do it well, don't do it.
Complicated game- requires knowledge, skill, instinct- and money. To make a living doing it as an employee of an investment bank requires the skill to manipulate and grow other peoples money. To make a living as an individual investor requires you have...
Dora Said:what is the best way to shop around for the best mortgage rate?We Answered:all depends on what you want-do you want a redraw facility?Do you want to make extra repayments?I have been with Aussie home loans for about 13 years and they are really fantastic.Chester Said:what is the best mortgage rate for a 30 year mortgage following the FED action this week?We Answered:with 5% down...if you have 720+ and the loan amount is over 200k...then 6.125%...
Greg Said:Any reason a 77 year old woman should buy life insurance?We Answered:The short answer is no -- you are correct about the purpose for life insurance.
I won't give you the long answer because it is most likely irrelevant, but there are a handful of situations -- mostly in estate planning -- when life insurance may make sense.Mabel Said:Where can I buy life insurance for my dog?We Answered:I would hope you take such good care of your dog that it will live a full and long life. You should look into pet insurance for your dog, we have Trupanion pet...
Tanya Said:is it really necessary to buy mortgage insurance?We Answered:Private Mortgage Insurance is an insurance policy that YOU purchase to protect the LENDER'S interest in the house. The lender isn't protecting his interest, you are.
Then there's mortgage insurance to pay off the house should you die. It is a relatively expensive decreasing term policy that makes the lender the beneficiary of your policy. Decreasing term means that the payout is less and less the longer the note is held. You have NO SAY as to who gets the money, it goes to the lender. Instead,...
Robert Said:Buying a home; calculating mortgage payments?We Answered:If you can afford around $600 a month, then it's around a $300 mortgage because you also have to add in taxes and homeowner's insurance. This equates to roughly a $70,000 loan. Keep in mind these are rough estimates. With housing prices at an all time low, you can definitely get a decent house in this price range depending on where you want to live. Check in the sources section for a mortgage payment calculator, and keep in mind that taxes, fees, and insurance really make the mortgage payment...
Bernard Said:Buildings insurance - we're buying a house and need to "put the insurance on risk"??We Answered:Try going through an insurance broker and get professional advice instead of the half-baked and often incorrect information given here.
Once contracts are exchanged you are responsible if the home is damaged and so acquire an insurable interest. If you know the date of the exchange of contracts then you can take out insurance effective from that date i.e. put it on cover. The policy schedule is evidence that an insurance contract has been entered into (you can get renewal notices/ policy booklets but they...
Stacey Said:What percentage of people buying a home in America get a mortgage?We Answered:I have sold homes for 29 years. I would imagine that about 8%-10% of the buyers I deal with on normal size homes don't get a mortgage- they pay cash....
Shawn Said:Questiona on annuity,please solve it, its urgent, if u r gud at it do ans it as soon as possible.?We Answered:All your home work you want others to solve???...
Bobby Said:When Underwriters calculate debt to income ratio for a refinance, do they use new mortgage pymt or old one?We Answered:The debt will be based on the new mortgage payment and the income will be your gross income....
Jay Said:I want to buy a house, is it possible?We Answered:You really need to begin your homework by talking with several lenders in your area. Each will have different loan programs and they need to take into account your whole financial picture. If you skip a step to get a quick answer, you will get taken advantage of and be unhappy with the buying process. Let's be smart here from the get go, do your mortgage homework, then find a Realtor you're comfortable working with and listen to them to keep yourself out of financial trouble. Two more...
Esther Said:Broker equation question. Need help with numbers?We Answered:Okay so how the math is done is like this: 50% DTI x $3,258 = $1,629. That figure, $1,629 represents the MAX amount of monthly debt you can have out-going, including the new mortgage payment. So what you have to do first is take away your current monthly bills of $673. $1,629 -$673 = $956 = maximum amount your mortgage payment can be, including taxes and insurance. All depending on where you live and how much taxes run will impact how much you're approved for. For...
Kristina Said:Excel: Calculating yearly rising property taxes and insurance premiums for mortgage?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Monica Said:When calculating a cap rate, do you figure insurance?We Answered:Cap rate has nothing to do with insurance. The capitalization rate is the rate that is assumed for that given area. It depends on the area, location of the property and types of property. It has to do more with the prices that other buildings are getting in the area. You are safe to use a 8-10% cap rate (keyword:...
Oscar Said:How did they come up with this monthly mortgage?We Answered:You are right, according to the ad, this house would have a loan value of $158,424.176. Add in the 3.5% down payment and you have a purchase price of $164,174.00.
Maybe it is a typo, if not, then it is deceptive advertising
---Thirstquencher Nice itemization, but the property tax rate in that area is at the very most 1.5%.
That got me thinking.... maybe loan origination fees of around 1.2%?Tamara Said:Mortgage Question???We Answered:I DO NOT HAVE PMI OR MI ON MORTGAGE (not sub prime loans either)
IF YOUR CREDIT...
Rick Said:Home purchase monthly payment items?We Answered:-utilities (electric, gas, sewer, trash, water)
-lawn maintenance
-pool maintenance (if applicable)
-home furnishingsFelicia Said:Apartment building investment?We Answered:Your investor is either very stupid or is going to want 20%, which is fair to them. 10% is too little as they are the one putting up 100% of the money.Alvin Said:help understanding how "PITI" works when buying a house?We Answered:Your mortgage must cover the (P)rincipal, (I)nterest, (T)axes, and (I)nsurance, they then make the various disbursements as they are due. It is the way to go saving you time and aggrevation....
Joyce Said:How do doctors actually pay for liability insurance?We Answered:What if you didn't pay for insurance (ie didn't have insurance) and somebody won a million dollar lawsuit againist you. You'd have to pay the money yourself (it may bankrupt you). Doctors pay so much for insurance because they get sued alot and sometimes have to pay millions of dollars lawsuits. I'm sure many of these verdicts are justified, but some probably are not. Anyhow, thats the way the system works.
Another point - the docotrs do pay these costs but probably pretty much pass the...
Terrance Said:How do I get more buyers?We Answered:Hi, I would like to help you with this.You need to find the right niche that not everyone else is using. Something that people need badly that you can provide.Courtney Said:Denied admission to the states - I am a Canadian citizen?We Answered:The problem is that you apparently convinced a US Immigration Officer that you planned to illegally immigrate to the USA. For example, you said you "drove...to the ambassador bridge to cross and pick her up and bring her back" yet you had a "lot of clothes packed". Giant red flag.
You...
Jill Said:How can I find house owners' names and address for marketing purpose in Ontario, Canada?We Answered:make sure you speak French. English and French are the 2 main languages of Ontario. Find out if there is a free online public records search. You can search by mortgages and filter it by dates. If someone has a mortgage on file within the last few months they either refinanced or are new homeowners. Either way they have a home. This would be the most accurate way to get your information.
An alternate method is too purchase a list. From mailing list companies.Phyllis...
Wayne Said:Must I carry insurance on my Canadian home that backs my line of credit?We Answered:If it's not contractually required, then no you do not need to carry insurance on your home. However you would be better off speaking to the person who arranged the line of credit and confirm this just to be sure as you may have misread the contract. Beyond that you are only in trouble with yourself unless you somehow have enough money to rebuild your house on your own saved somewhere. No insurance company is going to let you insure your house for anything less...
Darren Said:Do you have to have PMI (Private Mortgage Insurance) if buying a home below market value of the 20%?We Answered:No, It is 20% of the purchase price. Once you pay less your value literally is less, no house is worth more then someone will pay for it on the day it is purchased....
Sylvia Said:cheap home insurance?We Answered:Finding an insurance agent in your community is the best way to go. You should talk to your family and friends to see if they may be able to refer an agency to you.
An insurance agency has the ability to find the best insurance for your needs, at the lowest price.
You can also look in your local yellow pages under insurance agency to find an agency in your area.
Good Luck!Julia Said:Where can i find cheap home insurance in Oklahoma?We Answered:Oklahoma Statewide Insurance Agency is an independent insurance agency that shopped numerous insurance providers for me...
Kelly Said:How can I get free/cheap life insurance, Im 14?We Answered:You are still 14, you don't need life insurance. What do you need is health insurance. You can compare health insurance rate here:
http://top-usa-health-insurance-comparator.blogspot.com/Tommy Said:I want a cheap life insurance policy, should I use an agent?We Answered:Try this site to find cheap life insurance
http://free-best-life-insures-comparator-usa.blogspot.com/
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.Sally Said:Where can we find cheap life insurance?We Answered:You always get what you pay for with life! Cheap insurance from a cheap...
Sergio Said:How to drop mortgage insurance?We Answered:According to federal law (the Homeowners’ Protection Act), it can be canceled the date the remaining principle balance of the loan is first scheduled to reach 80% of the original value of the property, or the date the principle balance actually reaches 80%. There are also stipulations including requirements for a good payment history and no subordinate liens.Joy Said:Is it still possible for me to get a mortgage with no money down?We Answered:100% financing is no more. Save some money, take out a personal loan if it makes sense (if you have a good...
Regina Said:We closed on our home yesterday and I don't understand the escrow and insurance?We Answered:You are putting money into escrow to pay next year's homeowners and flood insurance when it comes due. So you are not double paying.Jean Said:What do you think about women spending a large portion of their income on their looks?We Answered:While I tend to agree with you...it is really none of my business nor yours...they are single and althougn their living conditions may not be what you or I may choose...they have chosen it...so be it!...
Robin Said:Cheapest Term Life insurance policy?We Answered:a 30 yr term policy is not a good choice--you will overpay the premium the first 15 yrs, and underpay the 2nd 15 yrs, to get a level premium.. a better choice would be ART, annually renewable term..this is more a pay-as-you go premium..it increases some every yr, yet you don't overpay in the early yrs to get a level premium..also, you can renew it for as long as you want to keep the policy.. much more flexible, and a better value, premium wise..look for an Independent Insurance Agent in the yellow pages, under...
Veronica Said:Cheapest Life Insurance out there?We Answered:cheapest isn't always the best. shop around and see what's in the policy.Dolores Said:Where can I find cheap life insurance with no medical exam ?We Answered:Well, you're going to have a hard time. You can get a "no medical exam" low value policy through Globe Life or Mutual of Omaha, but you have to live AT LEAST two full years after taking the insurance out, before you die, for them to pay out.
Otherwise, just start saving your money now.Cynthia Said:How can I get free/cheap life insurance, Im 14?We Answered:Depending on the...
Alex Said:cheapest and best flood insurance?We Answered:If you have a mortgage, the bank may require flood insurance. If you don't have a mortgage, the decision on flood insurance is up to you. But if you choose not to get it, your homeowner's policy won't cover floods.
The amount of the premium will depend on the value of your property and the risk of floods in your area. There are also policies for building only, contents only and building + contents. Here's a link to a website that might be helpful.
http://www.floodsmart.gov/floodsmart/...
Tim Said:can i chose different Personal Protection Company?We Answered:You should be able to select you own insurance company, however the lienholder may initially put their coverage in force to cover the exposure until you secure your own policy with their name as lienholder. You would only be charged for the time their policy was in force. If you secure your own policy make sure you contact the other carrier and cancel as the bank may not.Calvin Said:Does anyone know any car insurance auto so i can put my 19 year old on my protection?We Answered:If you want to find...
Roberta Said:Can someone offer reasonable mortgage Help/advice?We Answered:Lisa:
Try posting your question in the Mortgages forum below.
Good Luck!
BobHarry Said:How can i transfer the title of house on my name?We Answered:Have her sign a deed to you of her undivided one-half interest in the property. She should also sign a letter to the bank asking to be removed from the liability on the mortgage.Jay Said:How can i transfer title of house on my name?We Answered:If you can show that your making payments, and shes not around there is a real good chance you can do this.
go to the law library in...
Don Said:What is a great career to get into?We Answered:Be a consultent of some sorts. People pay big bucks for advice if you have a lot of advice in a field.Keith Said:HELP!!! We owe too much on a truck..their is no leinholder?We Answered:No. If their investigation didn't find any evidence of insurance fraud, they are obligated to pay you the actual value of the truck. They will not, nor are they required to pay you what you still owe on the loan. That is your problem, not theirs.Leonard Said:How can I become a pilot for hire (commercial pilot) without...
Victoria Said:Can I buy Life Insurance Policy On-line without Medical Test ?We Answered:Yes, you can compare and buy life insurance online without a medical test.
Here is a list of three options available for you to consider for life insurance with no medical test:
1. HSBC - offers you up to $250,000 of term life insurance with no medical exam required. You can apply online and get approved usually within minutes, if you qualify. HSBC started in 1865. HSBC is rated "A+" Superior by A.M. Best for financial strength. To get a free quote go to https://insurance.hsbcusa.com/quotal/sim…
2. RBC Express Term - offers...
Roland Said:Have YOU Ever Had A REALLY Embarassing Moment Like These???We Answered:I took my young son to pay our television cable bill at Cox Communications.
They had a bowl of candy on the counter for Halloween.
Imagine my embarrassment when my son pointed to the bowl and yelled "Look, Daddy, they have Cox suckers."
I have since payed my bill by mail.Julian Said:I want to make a product search engine and need help to find the quote from designers for designing the site?We Answered:We are not a website development company. If you have everything on the development side taken care of, we can...
Keith Said:Is it better to add taxes and insurance to your mortgage?We Answered:Here are the benefits of escrowing tax and insurance vs. not escrowing...
BENEFITS OF AN ESCROWED LOAN.
1. You don't have to worry about paying your property taxes every year. The mortgage company is responsible for paying your taxes in such a way that they save the most money (most tax authorities give a discount date for early payment).
2. Slightly better interest rate on your mortgage. An escrowed loan is less risky to the lender. If the loan is escrowed, the lender knows that the taxes will...
Kent Said:Can I afford to purchase an apartment?We Answered:I'd be very cautious. 20 years is a long time and if you want to move or need to move and needing to rent the apt out in order to avoid repaying the 50K loan could be a mess. Another thing to consider is assessments. If the building is foreclosing, maintenance could have been neglected and expensive things like the roof, or termites, the furnace or boiler, could be on the verge of implosion. Apartment owners need to chip in to pay for these big ticket items, and...
Cynthia Said:what is the realistic cost of living in bangalore and hyderabad for an R2I family of four?We Answered:At Bangalore, for your estimation, Schooling for 1 Kid at the best School:
Your monthly take home earnings should be around 1.25 LakhsShelly Said:Life insurance policy for dying father?We Answered:Legally you won't be liable for your father's debts. But life insurance is no solution at this point, since no insurance company will take that bet.
If you are worried about your personal safety, why don't you liquidate your considerable property and disappear? Start over somewhere else in an untraceable way?...
Sonia Said:How much does the firefighters can refused the service when fee are not paid?We Answered:Since they had this particular system, requiring payment for service, I believe the fire department has no legal compulsion to save the house or save anybody's life. Maybe they have the moral obligation to save a life, if they can do so without endangering themselves. But after all, they didn't set the fire. They would have no more obligation than anybody else who happened to be nearby.
I don't know whether fire insurance is even available in that location. If it is,...
Alberto Said:PMI Insurance Help!?We Answered:Try this link:
http://rateestimator.rmic.com/
Most of the questions are pretty intuitive - your coverage level needs to be 35% unless you are doing a reduced MI coverage program such as My Community or Home Possible, in which case it would be 20%.
If you need any help in determining it, shoot me an email - but I doubt that someone has calculated it wrong for you.Lloyd Said:Las Vegas, NV. ALL costs associated with buying a house.?We Answered:ALWAYS work with a REALTOR when you buy a house and I don't mean the LISTING agent of the house you want to...
Leslie Said:Other than Bank of America, because they don't service my area, who offers no PMI, Closing costs, or fees loanWe Answered:Oh brother.
No one. B of A would not even think about it either.Erik Said:What are the current rates for PMI on a conventional mortgage?We Answered:Put down 20% and avoid PMI.Holly Said:PMI would cost ??? on a $280,000 loan with 3.5% down FHA loan 5.25% interest?We Answered:$123.84 per month.
Purchase price $280,000
Down payment $9800
Base loan amount 270,200
$270,000 x .55% = $1486 / 12 = 123.84Clifford Said:I need advice I want to buy my first home but I...
Benjamin Said:Is homeschooling the most economical way to teach children?We Answered:Homeschooling can take many different forms and can have different costs associated with it. There is no easy answer to this question, as it will depend on what your specific objectives are.
With that said, some things you should consider in evaluating the costs of home school.
The cost per student in a public school varies depending on where you live from about $6000/year to about $13,000 year. How the school receives these funds also varies. In my area there are 13 different property taxes plus the state income tax...
Alberto Said:which is best joint insurance or single for couple taking out a mortgage?We Answered:It depends on whether the mortgage is a repayment or interest only!
if a repayment then you both need decreasing term insurance (actually a special form of if to cover the decreasing amount of the mortgage) - e.g. you take out the policies and put the benefit into trust for the partner.
if interest only then you need level term insurance on the same basis....
Bill Said:mortgage payment protection?We Answered:The latest scams......MPPI: Mortgage Payment Protection Insurance.......drop it!!!! It doesn't even kick in right away and there are many exclusions......I'm in the U.S., but it sounds the same....save the 55 per month - you need an emergency fund anyway.....Julia Said:Mortgage insurance cover?We Answered:you need a seperate income protection insurance to cover you from unemployment or sickness eg broken limbs usually with pinnacle insurance. critical illnes covers you in the eventuallity of cancer or other fatal diseases which will pay off your mortgage. life insurance covers your mortgage on your death.Terrence Said:I have personal...
Vicki Said:Is it too late for a 39/40 year old to get a mortgage?We Answered:you are certainly not too old at 39/40
you say you are looking for a 25 year mortgage well this would only take you up to 64/65 so for the biggest majority of lenders this should not be a problem at all.
many lenders ( though there are exceptions) prefer to offer terms which ensure that the term ends before a person is due to retire. this is mostly to reduce the risk to themselves since for many people a sharp decrease in income is likely after...
Toni Said:my husband just past away he owes credit cards, the house but he left life insurance, will they go after it?We Answered:I am sorry to hear of your husband's passing.
Maybe this will help you: http://locate-power-of-attorney.info/?id… you can post your job then they'll post it to their lawyers who will get back to you with a definite answer.
You then choose who to hire. It's a free service.Mathew Said:Personal Finance / Mortgage Questions?We Answered:I just know 5---------> dDanielle Said:Will my parents' life insurance payout be used to offset their debt when they pass away?We Answered:You aren't responsible for your parent's...
Geraldine Said:How can you have a great financial credit score but a lousy home insurance credit score?We Answered:The length of time you have a credit account ADDS points to your score for every year. Additionally, for every two consumer initiated credit checks in six months, your score gets DECREASED by 20 points (mortgage is the exception - all mortgage inquiries within a 30 day period are treated as ONE inquiry).
Because of that, if you shop out your Mastercard every six months, to four different vendors to get the cheapest rate, and switch it over, you...
Ana Said:how do i do the course of insurance? where do find and how much it cost?We Answered:yes, well, most people can't sell enough to cover their costs, and drop out.
You can find courses through your state insurance department, or your state independent agent office www.iiaa.org ....
Julie Said:Should banks inform customers about accidental death insurance when the account owner dies?We Answered:Privacy laws specifically prohibit them from telling anyone besides the executor/administrator of the estate, that information. If your husband was not yet named executor or administrator, they couldn't have told him, legally.
If you want to contact someone anyway, you'd contact your state banking commissioner.Brad Said:Life insurance/living will question...?We Answered:OK, that accidental death policy, you KNOW it only covers if he dies in an accident, right? Natural causes, like a heart attack, cancer, or stroke, are NOT covered. You know that, right?
And...
Douglas Said:what type of insurance company buys your mortgage and lets you stay and rent?We Answered:If the person owns their home (or most of it), then there is what's called a "reverse mortgage", which is where the bank pays YOU a bit of money each month, slowly buying back the house from you.Rick Said:Is homeowners insurance in case of death really worth the monthly premiums for this?We Answered:You've answered our own question. On both counts. Credit life is a terrible deal, especially if you already have enough life insurance.
Short term disability isn't such a hot deal either, especially...
Anita Said:What is included in finding the escrow amount for our house mortgage?We Answered:Did they send you anything with totals for last year? It could be that they didn't hold out enough last year and are making up the difference. It might also take until the next time they change your payment for the new insurance rates to be entered in their payment formula. They are only allowed to have a certain amount in escrow so if it turns out they have too much because of the lower insurance rate then they should send you a check...
Marcus Said:How good is a life/health insurance agent career, would it be a good choice?We Answered:It's true. You can make a ton in this industry. Of course everyone is going to tell you they make great money--who ever says "My income is down the crapper with this business!" The reason most people wash out of this business is the same reason mortgage salespeople wash out--bad prospecting and no one to see. If you were successful in another sort of financial sales, selling complex intangible products to people, you'll do fine in the insurance business. I...
Dwayne Said:For a special 15 year decreasing term life insurance?We Answered:It's normally preferable to get a level term policy. The death benefit will remain the same for the term of the policy even though the premium will be comparable to the decreasing term. The decreasing term would only be preferable in a couple of situations. Decreasing term policies are often offered on a guaranteed or simplified issue basis, so if there is an insurability issue, it may be the better (or only) option. Also, many decreasing term policies are offered on a joint first-to-die basis which...
Neil Said:FINANCE QUESTIONS!.. Help?We Answered:1) b
a is wrong as a conventtional morgage has a fixed rate by definition
c and d are wrong because all morgage interest and real estate taxes are deductable.
2) a
b is wrong. a whole life premium is the same for the life of the policy
c is wrong. in decreasing term, the death benifit decreases over time.
d is wrong. Universal policys allow loans, not withdrawals.
****note I am not 100% sure of the insurance question as I can not find my old insurance textbook. If nobody confirms this you should run this question in the insurance...
Willie Said:Saving a home from foreclosure due to illness?We Answered:When people get near foreclosure they usually simply give up. What they don't realize is that by simply calling the lender that holds the mortgage you can discover multiple options that you didn't know were available. If that doesn't work and If your mother bought her house with an FHA mortgage I suggest you call FHA directly, they will help for certain. Other options include refinancing the house in a manner to allow for a more affordable payment or even a "reverse mortgage" which basically uses existing equity...
Annette Said:is to possible to freeze mortgage payment if a person becomes disabled?We Answered:You're going to have to call the lender and work something out....
Milton Said:Are Doctor notes considered legal documents in relation to insurance claims?We Answered:If it was the specialist who filled out the disability forms, that is who should be answering the questions for you now. Seems to me your family doctor was just answering truthfully--he is not the one certifying your disability.
Get your records from the specialist and try again.Gladys Said:what is the name of the insurance that pays off your mortgage in invent of death or disability?We Answered:In the Mortgage Banking Industry, this insurance is known as "Optional Insurance" and its premium is known as the Optional Insurance Premium...
Kristina Said:do I recure life insurance, really?We Answered:No one here could possibly know if you need it or not. Maybe you've got young kids to raise? Or maybe you're a trust fund baby set for life....
Carlos Said:buying a nd home and need mortgage insurance.?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Carole Said:I need to know what kind of insurance to buy. I am remodeling a home that will be vacant for six months.?We Answered:You need a course of construction policy (builders risk) in the amount of your loan.
If you are remodeling for lets say $X, you need to add that on top of your loan to cover the entire thing (the current structure and the addition/remodeling portion).
Just be aware that this kind...
Theodore Said:Do you and your spouse have life insurance? How much?We Answered:lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.Janet Said:Do people over 65 need life insurance?We Answered:No life insurance. No debt and plenty in savingsCorey Said:WILL HAVING NO LIFE lNSURANCE PREVENT ME FROM INCREASING MY MORTGAGE SO CAN SELL MY HOME TO MOVE TO ANOTHER?We Answered:Hello Sean. Unless there are some laws in Ireland to control this, which would seem pretty weird, my advice would be to just go ahead and try. As far as where i...
Maria Said:Life Insurance test in Utah?We Answered:Your states insurance department should have a listing and the sucess rate. The test in Indiana is really tough, self study only works 20% of the time. Classes only end up with a 60% pass rate, so hopefully Utah is easier or study hard!...
Joann Said:do you need mortgage insurance in case of fire?We Answered:No. Mortgage insurance protects the lender only, in case of your death.
Your building insurance should cover fire....
Debra Said:Estimate the affordable mortgage and the affordable purchase price for the Bergholts? Please help if you can.We Answered:Thank you for setting out the parameters so well here. There are a few things that I would need to know to know if a better option is available to them.
Given what you've put here, the family you're talking about should be able to see a better loan (fixed rate for example) and lower loan costs (fewer points to pay) from most lenders or brokers. A lot depends on their credit histories. Since they only have 1...
Delores Said:Is it better to work for an Independent Insurance company?We Answered:I'm not a big fan of being a captive agent. I spent my first 4 years in the industry as one but gave up my book of business to become independent.
If you can work for an independent broker you'll be able to close more of the leads than if you are captive. Out of the 20 leads you'll probably close 60% as an independent (if you have a good selection of companies) as opposed to maybe 20% as a captive. Also, as a captive if you're unable to close...
Carmen Said:FHA mortgage, Mortgage Insurance Premium?We Answered:The 1st answer has mortgage insurance and mortgage insurance premium confused. It is 2.25%. You will have to pay it for your FHA loan but You have the option to finance it. Most people do.
Even after you eighter pay or finance this amount, you will still need to pay your monthly PMI(mortgage insurance)Debbie Said:FHA Insurance on mortgage that had more than 20% down?We Answered:FHA loans always have upfront mortgage insurance and monthly mortgage insurance. The only time they don't is if you do a 15 yr. term with at least 10% down. ...
Melinda Said:FHA has permitted what kind of refinances on insured mortgages since the early 1980's?We Answered:is this a trivial question?
you can do rate/term and cash out refinances.Beatrice Said:Do FHA or any of the gov't insured loans require PMI private mortgage insurance?We Answered:Pretty much any loan where you are putting down less than 20% of the purchase price will require PMI.Kristen Said:FHA loan underwriter?We Answered:3 days maximum in underwriting..all the other stuff is waiting for insurance and appraisal and etc...soemthign is wrong with what tehy are doing...or something you have needs further verif...Thomas Said:my fha mortgage is not insured - what...
Leah Said:Removing PMI on a FHA Loan?We Answered:With FHA it is when your LTV reaches 78% (not 80%) by paying down the principal. However, there is a minimum of five years that you have to have MIP (called MIP on FHA loan). It will come off automatically at the 78% mark. Look at the Truth In Lending you were given at closing. If you never pay any extra towards principal this will give you an indication when you will reach that mark. Don't be surprised if it is about 12 years....
Jerome Said:I have a scenario here that I am pondering...?We Answered:First, you better make sure there is no clause in your insurance about suicide. They usually have it, and if they determine that the cause of death is suicide (believe me, they will investigate diligently), then the insurance contract will be void, and you or her won't get anything, including your payments.-- I'm not condoning suicide, just wanted to tell you the fact first.
I know that in desperate times, can sometimes culminate in some desperate thoughts. Offing yourself is not a selfless act, contrary to your belief. It is...
Alberto Said:Do you have to pay an ufmip on a FHA loan for a condo?We Answered:Yes you must pay this up front fee. You might also consult with your tax consultant, as on your 1098 from your lender a certain portion of this might be tax deductible on your future taxes. There is a formula for the taxes that might be charged.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"Beth Said:How painful can the Truth possibly be?We Answered:You won't get any libs to comment on this because facts are like soap to a hippie. Besides it...
Marvin Said:How to decide between a conventional v/s FHA loan?We Answered:Traditionally FHA loans have been for people with bad credit. Everyone else would do better getting a conventional loan. The conventional loan fees are less. The FHA has upfront and monthly mortgage insurance. The conventional won't have that "double whammy".
FHA also tend to have more "miscellaneous fees" so you pay more in the final accounting.
But FHA allows a lower down payment and only you can decide how much you can drain your bank account in order to own a home..Jeff Said:What would my mortgage payments be on this?We Answered:My wife...
Brandy Said:Mortgage co grossly over estimated property tax escrows 07 & 08 I have provided proof yet they wont adjust ?!We Answered:If your impound account is overfunded, it should be adjusted (downward) next year to account for that. they have to provide you with annual impound account statements. I think you're making too much of this....
Crystal Said:Is FHA Upfront Mortgage Insurance Tax Deductible?We Answered:Under code section 163(h)(3)(E), FHA mortgage insurance premiums are deductible. The premium has to have been paid in conjunction with the purchase of your principle residence. It has to be paid on a mortgage issued after December 31, 2006. The deduction only applies for 2007 through 2010. If your adjusted gross income exceeds $100,000 the deductible premium is reduced by 10% of each $1,000 of AGI above the $100,000.Louise Said:does fha mortgage insurance cover your mortgage if you cant make a payment?We Answered:No, Ryan, not at all.
FHA mortgage insurance is for the...
Elmer Said:Buying a house and have questions about closing costs?We Answered:The answer above is correct, you have to pay monthly. You are misinterpreting what is meant by reserve. A reserve is not there to pay the bills, a reserve is there to pay the bills in case you default. What the bank wants in escrow is, as you found out, a year of taxes and 6 months of insurance premiums. Then, once you have started paying the mortgage, your escrow will include taxes and insurance from month 1 and these will go towards paying the taxes...
Florence Said:brother is a first time home buyer with mortgage question?We Answered:yes there is a way, some banks allow you to do what they call "stated income, stated assets" that is a program that allows the borrower to state their income to whatever (within reason) to make them qualify for the loan. The down side is the intrest rate is a little higher than normal usually about .50 of a %. with that kind of down payment I could get him into a home fairly easy, and depending on his credit score he may not have to put all of...
Javier Said:Flood insurance?We Answered:The ways they don't have flood insurance:
They don't have mortgages.
Their house slipped through the cracks and mortgage co didn't see they were in flood plain.
The owners paid off surveyors to say they weren't in the flood plain.
The most likely reason is: Flood insurance is only required for 100 yr flood plain and this flood is a much greater magnitude. Some people in this flood actually weren't in the flood plain. This is one of the greatest floods on record. A flood of this size is mapped or planned for because it...
Donald Said:Do you have to buy insurance on land with no home in Florida? What if someone trips on the land and sues you?We Answered:Not sure about the 2nd question but I think they would be trespassing, and the only to make it legit. you need to post no trespassing signs.Ross Said:My whole house burned down rats chewed wires in attic I am 2 mths behind in mortgage will insurance pay claim?We Answered:As long as your not behind on the homeowners insurance payment you should be fine.Roberto Said:Anyone with florida homeowners insurance here? Keeping windstorm?We Answered:Is buying the windstorm coverage...
Sheila Said:Find the amount to be paid by the mortgage insurance company?We Answered:Like you said, 37%.
You know the answer, it is confusing that you would ask.Josephine Said:How much $$ does an surance agent get for selling mortgage insurance?We Answered:Considering the mass mailings I get since I bought my house I'd have to say that you wouldn't get paid jack in commissions. You'd have to make up for the lower payouts with A LOT of sales volume.
Admitedly every company is defferent and would have differing levels of payouts for 1st year and then residuals, your better off just going ahead...
Violet Said:What do you have going out for bills?We Answered:How about personal toiletries. Also you can add anything that has to do with any form of self entertainment, such as tv, music, movies, computers, internet service.Kathryn Said:Adults, How much do you usually spend a month, including bills/taxes and such? And, how much do you make?We Answered:It's a good question, and I'm glad to see you thinking ahead
rent/mortgage/tax: 425
Water Bill:50
Electric Bill:150
Phone bill:80
Cell Phone Bill:pat-as you-go
Internet Bill:in with phone
Tax:
Garbage:15
Car:0
Insurance health:125
fines/fees:
Groceries:
general stuff for home (bathroom stuff, bulbs, pens,soap e.t.c):50
Entertainment:90
Shopping mall:0
supplies:
If you have kids: Genral stuff:
Stuff your kids beg you to buy:
What...
Rick Said:Could I get a mortgagae? Low income?We Answered:Ask a broker to do the leg work for you. They will be able to tell you quickly what your chances are. Also approach the estate agent as they will have a mortgage firm attached. See link for advice on brokers.Larry Said:Is it possible to get a mortgage with a high debt to income ratio?We Answered:Every loan program has their own DTI range the borrower must fall into. There is no way around this anymore. In the old days there was a way around this but the majority of those...
Charlene Said:How do you get rid of PMI?We Answered:It depends on how much your house has appreciated since you took out the mortgage, you can have a few options to choose from. The most simple and least expensive way is to submit a formal appraisal that shows your house's current value to be at least more than 20% (please call your lender to double check if it's 20% or 22% ?) above your current mortgage balance (for example, your mortgage balance is $160,000, then your house should be appraised above $200,000's) to your lender and request the removal of...
Herbert Said:Get rid of PMI on condo or put money in savings account?We Answered:Get rid of the PMI. PMI only benefits the mortgage company. It is there to protect them in case you default on your loan. It makes it easier for them to recoup their loss in the event that they must forclose on a home.
At any rate, it is wise to cancel the PMI when you reach 20%. You are just throwing money away if you continue to pay it. If you want, figure it out mathematically. I would bet that the...
Annie Said:Want to see the American company's that give money to La Raza?We Answered:Wow well I can see a couple I have done/do business with on that list and that is going to end PRONTO..no more $$ to them from me.
Thanks for the info I will pass it on to others.Ellen Said:Are you aware of corporations who support La Raza?We Answered:Many of these I already have or have notified and told them what I think. Toyota was the worst with their reply. I will never own a toyota.Brittany Said:Is anyone familiar with the CRA Program and/or Mortgage Guaranty Insurance Co.?We...
Debra Said:Hazard Insurance?We Answered:This is correct.
When you purchase the property you will need to pay a years in advance.
Then you will need 3 months deposited into your escrow account. (1 month for the closing month as no payment is due and a 2 month cushion.)
This is standard....
Jerome Said:Need your opinion, first-time home buyer?We Answered:It may be a good offer, but no one can really say for sure without seeing the comparable home data, etc. It's certainly right in their range, which can't hurt.
For the escrow account, it needs to be started with funds so that there is enough in it to pay the bills when they come due. The 12 months of insurance pays for the next 12 months, you still have to pay in to your escrow account every month in order to make sure that there is the full premium when the...
Debra Said:Is there home mortgage insurance available in Canada for diabetics that isn't overly expensive?We Answered:Mortgage insurance is a useless product for the following reasons: a) Only the mortgage company gets paid; b) The premiums stay the same but the amount insured decreases as the mortgage is paid off; You'd be better off purchasing a life insurance policy with a limit that will cover the mortgage and leave something for your loved ones after you die.Clifton Said:Are property taxes and home insurance included as part of mortgage debt?We Answered:When it comes to qualifying for a mortgage loan every lender WILL...
Bill Said:Is home insurance quote negotiable?We Answered:There are some coverages that are optional. Ask if they are including those in the quote and maybe there are some that you can do without.
Take home and auto in the same company to get the most discounts available. The company will also treasure you more as a valuable customer.Kevin Said:Home insurance quote question about 1st time buyers - what is its relevance?We Answered:Well, if you're NOT a first time buyer, then you have prior homeowners insurance - and a track record at maintaining (or not, as the case may be)...
Amanda Said:I want to take home loan also been ad viced to take Home loan insurance. Which company i should go for ?We Answered:Try looking at this site: http://www.localinsuresearch.com/myhomei…
Home insurance is becoming more important especially as natural disasters such as flooding, hurricanes and fires increase. As a homeowner, getting the dream homeowners insurance is not impossible with this site.Lauren Said:Home loan insurance for a house which is 15 years old?We Answered:Yes it is possible.
Contact General Insurance offices.Pedro Said:Which is best insurance scheme "Home loan insurance or Life Term Insurance to protech Home loan?We Answered:your asking whats the best policy to...
Eugene Said:Do mortgage companies force you to put your home insurance and property taxes on escrow?We Answered:It depends on your equity in the home. Generally if your mortgage balance is greater than 80% of the appraised value of the home the lender will require escrows. So, if you are buying and you pay less than 20% down on the price of the home the lender will require escrow....
Jeffery Said:REVISED Does Insurance Agency Owe Me? If so, what?We Answered:This is going to be complicated and you are definitely going to have to get the Insurance Department of your state involved because the agent broke the law.
The $50 you brought to start the policy acted as a 'binder' and bound the insurance company to the coverage from that point on you were fully insured (as long as you didn't lie on the application).
So at that point, the mortgage company's insurance was unnecessary which means that coverage can and should be retroactively cancelled with a full refund of premium.
The agent...
Tanya Said:Choosing Home Insurance and How to Switch?We Answered:where r u from?Armando Said:Buying house as second home or as an investment property? Which one is better?We Answered:In the lender's eyes, an investment property is much riskier to provide financing for than a second home. However, you cannot just call it whatever you want to try to save a buck.
As "Mazziatplay" stated, it has to make sense. A second home would typically be in a vacation area, for instance. If it is less than a few hours away, why would you need a second home there? These are the type of...
Raymond Said:Home Insurance/Mortgage Question??We Answered:First of all, the owners affidavit would be provided by the mortgage company.
Second, if the damages are under $5,000, the mortgage company doesn't have to be listed.
Third, you could have your adjuster pay the contractor directly, and totally avoid the mortgage company issue.
I don't think you'll have the mortage company on your check, $5K pays for a HECK of a lot of siding....
Rose Said:home insurance was not started by mortgage advisor?We Answered:Did you sign a cancellation request form to cancel the old building insurance and did you sign the application to purchase the new insurance on the new house? Do you have a copy of the application? Did you give them money to start the new policy? Your agent just can't "start" a policy without your request (which is the signed application and payment). If you have proof you did sign the application and make a payment, you may have something, if you do not, then you don't.
It...
Philip Said:Can I place the remaining mortgage payment on my existing home towards a mortgage on a new home?We Answered:No, you can't transfer anything. When you sell the townhouse, you have to pay off the mortgage on the townhouse. You should talk to your realtor and/or mortgage rep about this.
Good luck.Leon Said:If I want to increase my home mortgage payment, do I need to refinance?We Answered:If you're with Countrywide, you're in a good position with 6.5%. On the wholesale broker side, I can tell you that Countrywide does not have a pre-payment penalty. Also, it would be worth...
John Said:Approved with FHA Home loan but they require payment protection?We Answered:First things first. If you are buying from your mother at $90,000 and the house is worth $160,000 you should be doing this as a gift of equity purchase. This way you will not need the 3.5% down payment.
As far as the mortgage insurance, this is an FHA requirement no matter how much equity you have. The only time you do not have monthly mortgage insurance on an FHA loan is if you do a 15 year fixed at a loan to value of 89.99% or less. Feel free...
Larry Said:Where can I find out if someone has taken out a mortgage on my home without my knowledge?We Answered:All good answers here. Keep in mind the calls you are getting are about "life insurance" to protect against the early death of a breadwinner who might be paying a mortgage. That's what the term "Mortgage Protection" means in the business. My guess is it's just a cold telemarketing call. The person calling may not even know if there is a mortgage on the property. They are just dialing phone numbers perhaps in an area...
Claire Said:Is R.S. Andrews Home Protection Insurance a rip-off?We Answered:I'm a realtor. I don't know of this company specifically but I do know that most home warranties begin coverage the day of signing and no inspection is necessary to warrant the home. Now, there is usually a deductible but has nothing to do with the age or condition of the repaired item.You might try to check out a company like Old Repulic Home Warranty or Prestige Home warranty and compare yours to theirs for some guidelines so that you can compare an argument. They usually all offer the same services....
Nancy Said:HomeOwners Insurance?We Answered:They will not deny you an umbrella policy because you are unemployed or disabled. And, they will not cancel your other insurance for that reason either.
They are just trying to figure out why you need an umbrella. An umbrella policy is to protect you from lawsuits. If you have assets to protect then you still have a need for an umbrella. But say, you are unemployed and have no assets, no home, no auto, no resources to protect then you have no need for an umbrella.
So, they just need...
Elizabeth Said:Is Mortgage Insurance the same as Homeowners??We Answered:No mortgage insurance protects your bank if you can't pay your mortgage, if you don't have a certain amount to put down they will require you to get it.
Homeowners insurance protects your home in the event of a fire or something.Jo Said:What type of lawyer do i need to for this matter regarding my Mortgage/Homeowners insurance Please read?We Answered:You should consult a chapter 13 bankruptcy attorney and/or a real estate attorney. It seems like your message got cut off so I'm not what the "mediators" called about. It probably wasn't...
Edward Said:What protections/put options are accessible by individual homeowners to protect against SF Housing price dropsWe Answered:This is complex and may not be worth your time to investigate. You could hire a securities broker to do this for you.
Find a Real Estate Investment Trust, that invests in SF Real Estate (preferably residential) and short the stock.
Good LuckAlan Said:Foreclosure question?We Answered:You are correct, the bank is not required to do anything under the "Hope for Homeowners Act of 2008"--participation was voluntary.
What was the source of the $10,000? What programs was that from?
At the very least, the bank will...
Howard Said:How to estimate the replacement cost of a house in Zip 76133, Fort Worth, Texas, for insurance purposes?We Answered:Well, it's a bit more complicated than I have room to explain here. Basically, YOUR AGENT should be calculating it, as different insurance companies use different calculation models.
Effectively, you take the square footage, and construction, and look at a chart. You usually have to "interpolate" to get the ACTUAL base value for your house. You add for extras, like fireplaces, garages, built ins, porches, etc. There's a HUGE list of extras, and how much each one...
Leslie Said:We purchased a house & pay mortgage insurance here in Canada.?We Answered:Likely not. Most mortgage insurance, only pays the LENDER, if you default on the loan. They can still foreclose on the house, sell it out from underneath of you - the mortgage insurance then pays them the difference between what they got for the house, and the mortgage balance. THEN, the unsecured amount is transferred to the mortgage insurance company, who can sell it to collection agencies, and try to collect THAT way.
It really depends on the type of mortgage insurance you have. If...
Jonathan Said:Housing loan insurance coverage? my big problem pls. help?We Answered:First take the rejection letter photocopy from the bank > go to insurance company which has rejected your proposal > take information, why they have rejected > than only you can start your action.Renee Said:On a end loan. Do I have to have my property taxes and house Insurance added in on my monthly payment?We Answered:This will probably depend on how much equity you will have in the property.
If the LTV (loan to value) is more than 80%, then your lender will probably require you escrow for property...
Tamara Said:How does Mortgage Insurance work?We Answered:Mortgage insurance will pay off your mortgage in case of the breadwinner's death. You should stay away from decreasing coverage policies sold by lender's. These are hooked into how much you owe and decrease as you pay your loan back. unfortunately the premium stays the same. These lender issued policies protect the lender more than you. You should look into a product offered by an independent agent. They can offer you a policy that covers all,part of or a percentage over your loan value. The coverage stays level throughout the policy period and the...
Juan Said:Getting rid of my mortgage payment without hurting the credit that much?We Answered:Well, first of all I'm sorry your finances look that way. I suggest you to read the book The Total Money Makeover by Dave Ramsey.
Now, you can only sell your house on a short sale when the bank has already began the foreclosure process, otherwise you can sell it or rent it. If you rent the house, it will be considered an investment for tax purposes so you will have to report all your income against all of your expenses on that...
Leah Said:Does anybody have an idea how much a mortgage of £21,000 should cost?We Answered:Over what period of time is the mortgage for?
A 25 year mortgage with the Coventry BS will cost you £124 a month for a £21000 mortgage.Gordon Said:How much does it cost to move out?We Answered:Woh thats a big question.. and its going to need a lot of thorough research from you. Best thing to do would be to break things down into bite sized chunks. Here is a link to an excel spreadsheet where you can do your budget planning. There are quite a...
Tom Said:How much house can i afford?We Answered:25 cents.Kristina Said:How true are the "how much house you can afford calculators"?We Answered:Forget about those type of calulators.
If the max that you can afford for a house pmt each month is $860 then you can get a house for around $90,000-100,000.
At 6.5% APR, a $90,000 house is $568 a month according to the Ditech mortgage calculator. You then have to add on about $300-$350 a month for taxes, home owners ins. and PMI (which is required if you put under 20% down pmt).
What you should do is figure out...
Daniel Said:Can I sue my lender to get out of my mortgage, how can I tell if it is an illegal mortgage?We Answered:Advice is worth what you pay for it. This is a free international forum. If you want actual legal advice, pay for it. If you want people to agree with you, ask your spouse or people down at the diner. We don't have your contract or your bills to look at, we don't know the details of your escrow calculations. We know organizations like CalVet (which is part of the CA Dept of Veterans Affairs and funded by...
Tommy Said:Is it worth it to get my home refinanced?We Answered:Not really - but the amount you have going into escrow reflects the taxes, PMI and insurance. Dig out your last statement, check your payments and see how much goes to principal and interest.
Now, find a mortgage calculator, plug in your balance with 5% interest due over 30 years and calculate the new P&I. Subtract the new P%I from the old P&I and that is your monthly savings (and in real life, your savings are a little less than that because part of the difference comes from extending the...
Clinton Said:how big of a down payment do you have to give to avoid paying mortgage insurance?We Answered:20% of the purchase price as down payment on primary residences. Mortgage insurance rates can vary based on loan to value and credit scores. Ask your loan consultant about lender paid mortgage insurance. That may be just what you need. Good luck!...
Brenda Said:what exactely is PMI insurance on mortgage? Who determines how much it is? Do I have to pay this for the rest?We Answered:You cause PMI by not making a 20% down payment. . .You are a higher risk borrower because you have little equity in property. . . Lender insures the 20% down payment you don't make and YOU pay the fee for this
It is an extra cost which you pay up front and monthly
After 5 years, you can pay for a professional appraisal and if you have 20% equity in the property, eliminate the PMIArnold Said:Mortgage help...
Jerome Said:which is the better mortgage for us?We Answered:Hello, and Happy Holidays to you and your boyfriend.
Now to the loan question. Sounds like you have done some homework already, by knowing about the PMI or MI as some call it.
Do you know how your credit is? If it is great, you go conforming or FHA or My Community program at 100 percent. These do have PMI (ok), if your credit is lower like 580 - 600 middle score, than you go sub-prime and that is a 1 loan (or 2, you choose) and...
Christina Said:when I make an offer on a home on average how much below asking price will they sell to me?We Answered:This is a critical mistake . . . do not make it. Home value is completely arbitrary (much like stock value). You could value a home in dog biscuits and still have the same effect . . . Monetary value is assigned on an arbitrary basis . . . Any given object is only worth what someone is willing to pay for it . . . not most likely to pay for it . . . nor...
Alexander Said:how much mortgage can i afford?We Answered:How much debt do you have and how much money do you make???Jason Said:How much can I afford for a monthly mortgage?We Answered:I believe the financial guru's rule is 30% so $603.Derrick Said:How much mortgage can we afford?We Answered:NOT more than 2.5 times your annual income for house price. So if it's 80K for the two of you that's $160-200000 or so for a house. If it's $160K for the two of you, multiply it out. Depends on your debt ratio, too.
Having good credit rating and 20% down payment...
Lillie Said:How much insurance do you pay?We Answered:You are probably paying mortgage insurance (MI) because you have not hit the 20% ownership threshold. The 20% threshold is what is commonly used here in the US to determine whether to force MI on you or not. Then again, not every mortgage company does this. ING Mortgage does not charge MI, for example.
I personally understand the reason why mortgage companies impose MI but I also suspect that it's a great money spinner for them. You could try negotiating with your mortgage company to seek a reduction but your chance of getting away...
Nina Said:How do you make money with a rental?We Answered:Investing in a rental will take a while to make money; it's one of those buy and hold investments. You will take a loss for a few years but once you break even you are good to go and after a few years you will start to get some cash flow. The biggest advantage is that you will enjoy the appreciation of the property and can use the equity to finance others. It really depends on what area you are in. If you buy in a good location such as NYC...
Jason Said:How much to pay down on a new home?We Answered:The answer is...it depends! Many Financial specialists believe that it is wise to use as much leverage as possible. One of the hardest things for people to do right now during these economic times is to put and keep money in the bank. Putting 20% down is an extremely viable option. The question is, can you afford the monthly payment with your current cash flow position? If the payment is no problem and you are comfortably living in and enjoying the house, what is the...
Norma Said:Can someone please show me the math for how they work out a monthly mortgage payment?We Answered:On a 100,000 loan P&I payments @ 6% would be: 599.55 or $6/thousand to estimate other loan amounts (good luck finding 6% without some good points).
Then you have to add in real estate taxes. On 100K, mine are $2,000/yr, but this varies widely from one area to another. Divide by 12 to get monthly or about $167.00.
Then you have home owners insurance. Mine runs $730/yr or $61/month.
Then you may have PMI if you borrower more than 80% of the value of the property....
Glenda Said:How can I find mortgage financing?We Answered:Lending Tree, with a market today, I had my mortgage co. go bankrupt one week before closing. Went to Lending Tree was approved and closed a week later.
Good Luck.Kelly Said:How to find mortgage?We Answered:NO you can not walk into any bank becasue no one can tell you that based on the info here. Take this over to homework and maybe someone will do your homework for you but not before you give a lot more details.Wade Said:how to get the find mortgage in ontario?We Answered:first Ontario U.S.A or Canada. either way...
Stacy Said:How can I get a USDA home mortgage?We Answered:You have to meet certain income restrictions, and you have to live in certain specified rural areas. Here's info on the program:
http://eligibility.sc.egov.usda.gov/elig…
Remember that legitimate info on government programs can always be found at dot-GOV sites, not necessarily at dot-COM sites.Joel Said:How can my fiancee get out of a home mortgage?We Answered:He can't just have his name removed from the mortgage contract. And assuming he co-signed with the ex-wife, he is still responsible for the debt. The options are to convince the ex-wife to refinance the loan in her name only, so...
Rachel Said:how do i get my personal mortgage insurance cancelled,as i have more than 50% equity.The lender says no.?We Answered:Contact your state Banking Department. They will have information on your state's lending practices. If your mortgage has such a restriction, it will be worth your time to refinance and get a lower rate and no mortgage insurance. Good luck!Rene Said:Can a private individual get mortgage insurance? If so, how?We Answered:I would go to a company like www.mgic.com and call their helpline to see if they'll offer PMI for a seller financed deal. They'll definitely want to...
Dwight Said:How to Get Rid of Private Mortgage Insurance (PMI) on an Existing Loan?We Answered:Option 1 is to refi the loan and hopefully there is some unrealized appreciation on the house that lower your LTV to 80%, if not you can try a combo loan like an 80/10 or 80/15, basically just getting a 2nd mortgage to follow the first lien.
Option 2 is to request an appraisal done by your lender (they will only accept an appraisal ordered by them) and hopefully you have more than enough equity for an ltv of 80% or below
Option 3 Pay down your mortgage...
Juanita Said:DOES ANYONE KNOW ABOUT A CONTINGENCY RESERVE FOR A HUD HOME?We Answered:Usually it means the lender wants to see that you have enough money in the bank to take care of any repairs that would make the home uninhabitable. Typically this is used when HUD homes are in major disrepair. They want to make sure you can actually live in the home, and that you haven't tapped out every last dime you have to buy the house.
Sometimes they are held in an escrow account with your lender. Othertimes, they just want verification that you have a...
Tina Said:Can income from renting out rooms help you qualify for a larger FHA mortgage?We Answered:Realestateguy is correct, they will not consider this income. Keep in mind that while your friends may like you and be trustworthy now, anything could happen over the course of a 30 year loan. Don't expect that they'll be happy paying 600.00 a month for 1 bedroom each when they could have an apartment of their own for nearly that much for very long.
Find a home you can afford on your own, just in case.Karen Said:HELP!!I need JOB advice?We Answered:just like anything in life...
Tom Said:Somebody Please help!!! People Who are good at math! PLEASE!?We Answered:Honestly, this looks like all of your homework problems. If you want people to do your homework for you, forget it. Just flip back a few pages to the section that tells you how to set-up and solve these problems. If there a few specific problems you don't understand at all, then ask them here. Other than that... Sit down for about 1-2 hours and do your homework!
Work for your grade!
Good Lord... Don't be so lazy!...
Irma Said:Wouldn't it be nice to have something to show for your years of consistently paying permiums?We Answered:I prefer to buy guaranteed renewable term insurance and invest the difference. I can use this for my family's financial security, my children's education, my mortgage protection, and even retirement.
When you signed up for Yahoo answers, you promised not to solicit others for any purpose. You also agreed not to post content for advertising or commercial purposes. See #4 and #9 of the Yahoo! Answers Community Guidelines:
http://answers.yahoo.com/info/community_…
You broke that promise. How do we trust someone who breaks their promises?Larry...
Michael Said:income protection home mortgage insurance?We Answered:If you have life insurance from a mortgage company, then you have what is known as "decreasing term insurance.' That means premiums remain level, but the coverage decreases over time. But as you mention earlier, you also have other financial responsibilities such as your daughter and maybe some other debts. That means this type of life insurance is not enough to cover your other financial responsibilities.
Insurance is not suppose to pay you back. Its an agreement between you and the insurance company that as long as you pay your premiums, the insurance company will...
Lydia Said:A little help with mortgage information and first house buying?We Answered:yes this is very realistic.
My husband and i have just bought a house for £228,000 and we had a deposit of £11,000 which is 5%.
Our income is similar to yours, and i think that £150,000 is very achieable, and you may be able to go for something more if you can afford it!Bradley Said:Where do I find current information about mortgage modification, refinancing, and new mortgage rules?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...
George Said:First time mortgage information?We Answered:To cover the basics, you should make sure you at least understand these aspects about your mortgage:
1. The principal - Your mortgage principal is simply the amount you are borrowing to buy your house.
2. The type of mortgage - Is it a fixed rate or adjustable rate mortgage? If it is adjustable, when will the first adjustment take place, and could you afford a higher payment if the rates increased?
3. The APR - The best way to understand the overall cost of a mortgage is to look at its annual percentage rate (APR), which takes...
Jesus Said:What's the difference between Mortgage Insurance/Hazard Insurance & Homeowner's Insurance?We Answered:Mortgage insurance, is PMI - if you put down less than 20%, YOU pay for the insurance that covers the bank, if you default on the loan. You pay this, until you have 20% equity in your house.
Hazard insurance is mortgage talk, for insurance that covers your house if something happens to it. Homeowners insurance, is insurance talk, for the cheapest kind of policy, that covers your house if something happens to it.
So. Mortgage insurance is PMI, and hazard and homeowners insurance are sort of...
Naomi Said:Is selling mortgage protection insurance a good job?We Answered:It depends on whether or not mortgage protection is the only thing you're allowed to sell. Mortgage protection is a great door opener. People are not very open to discussing life insurance out of the blue, but a discussion of their mortgage payment disappearing is an effective way to get them thinking.
As usual, when life insurance is involved, always ignore Judy. Her post here illustrates perfectly. She apparently hadn't even heard of mortgage protection, and yet she jumps right in! Mortgage protection is nothing more than...
Dennis Said:can a mortgage company force you to buy homeowners insurance though a certain insurance company?We Answered:Hi, well you're absolutely correct! A mortgage lender requiring you to purchase insurance through a particular company or agent is in violation with Truth In Lending Laws, as it's not disclosed if there is any financial relationship between the lender and the insurer, with the Fair Housing laws requiring a borrower to conduct business with a particular insurance carrier, and probably several State Laws if the mortgage company is a licensed mortgage broker, a federally insured bank or a national bank.
The Deed of...
Robert Said:Need information for insurance for home loan which covers EMI in case of job loss.?We Answered:you should talk to an expert.Edith Said:Hi, I have applied SBI home loan. Would like to know how much time they take for approving loan?We Answered:If all the papers are in order it will take less than two weeks.Louise Said:Which will help you when you file a claim for home insurance?We Answered:Seriously, you don't know the difference between a loan, a budget, and an inventory?
You're going to have to look up all three of those words in the dictionary, and think about which you...
Byron Said:Insurance or a Mortgage???We Answered:The guy above me seems to have some issue with being secure in himself! Anyways... The market is slower right now and sales are down. It is the dead season for buying and selling because people are focussed on giving not getting, so they are less likely to buy a house for them self. The fact that you have not been doing this long is why your not seeing the money in mortgage and it does take a bit of time and sacrifice to get ahead in this business. I think...
Leona Said:What is mortgage insurance?We Answered:It sounds like you’re talking about private mortgage insurance (PMI), but you might wondering about something completely different: mortgage protection life insurance. This is a type of term life insurance that covers you for a certain number of years, often the same number of years as are remaining the your mortgage. The death benefit coincides with the mortgage amount, so that the policy will pay off the balance of the mortgage should you die before the loan is paid off. If the mortgage balance is less than the death benefit, then the additional money will...
Robin Said:Home insurance, Mortgage insurance, and life insurance?We Answered:An agent should come out to calculate the cost to rebuild the home - it's part of buying the policy, so no extra charge.
That same agent should be willing to take the time and sit down with you, and explain which coverages you need, and explain all about the policy. If they don't do that, you need a different agent....
Connie Said:I was recently laid off and have a chance to go into mortgages or insurance sales any suggestions?We Answered:Give it a shot because the economy has botttomed out and there is no place but up at his point and time.Armando Said:Why not make the governmetn pay for car insurance, homeowner insurance, our mortgages, phone bills, credit car?We Answered:It should be my RIGHT to have health insurance, car insurance, electricity, food, etc. I'm on board. Of course we'll have to shred the Constitution buy hey...the libs have done a good job of that. Personal responsibility is so over rated....
Andy Said:ky custody/child support questions - please help!!?We Answered:Health insurance is considered when establishing support. BUT with that said, $25 per week is a very very small support payment. My son's father didn't have a job when we went to court and they based his at minimum wage in 2000 which was $5.15 per hour at 40 hours per week and I get $51.41 per week. He really does need to be paying more then he is right now. It doesn't really matter how she gets her money.
Now, if you believe you would provide...
Valerie Said:for those of you who think Obama has accomplish nothing?We Answered:you stole that from me
http://answers.yahoo.com/question/index?…
but thats cool as long as its for a good causeViola Said:Rejected for platinum card application...what to do next...?We Answered:The only reason I can think of for their rejecting you is that you have a very high utilization rate on your existing cards...i.e. you are carrying balances that are close to max. out levels....If this is the case, pay the balances down.
FYI: My basic CapitalOne card has rental car collision coverage....almost all do...Platinum cards aren't the only ones offering this type of service. ...
Ernest Said:Question regarding Non-Compete Agreement validity if I went through a 3rd party?We Answered:I don't think B has any case against you - you're just doing website maintenance - that work is too general to put into a non-comp - which you never signed for BGabriel Said:Accept XENU now and save on your mortgage...?We Answered:ITS BETTER THAN GEICO!Sidney Said:Did the Democrats deliberately tank our economy to gain power?We Answered:Those people are not that stupid, and the democrats are the power, the ultra wealthy in the country who own the big banks, controlled Freddy Mac and Fannie Mae, Control the Entertainment...
Franklin Said:Where would Joe the Conservative be without whiny Liberals?We Answered:Then he wakes up, shakes his head and laughs, ' If liberals had their way during WW2, support for the war would be questioned. Protesters would burn our flag and say that it was our fault Pearl harbour was attacked, because we are war mongers and after all we cut off trade, what else could the poor Japanese do? The liberal anti semites would say the Jews were at fault for owning so much and poor Germany was overrun with vicious Zionists. Hitler would have avoided Normandy because...
Anita Said:Who thinks the comment McCain made about middle class making 5 million is for real or a joke?We Answered:It was a joke comment to show how ridiculous it is to try to divide people into rich and middle class and poor, and then punish one of these groups for their status.
I agree... lets lower everyone's taxes and figure out where this money is going to that government takes from us. Lets make government more accountable for every cent they take from any American. Neil Said:Films with terrific narration at the beginning?We Answered:Sunset Boulevard: http://www.youtube.com/watch?v=r9TIDthcI…
A Clockwork...
Jeffery Said:Does anyone know anything about refinancing a mortgage?We Answered:When you ask your lender about this you will find the amount is not a fee, but an estimate for the annual cost of your hazard or home owner's insurance. Even though they already have information about your policy in file, they are making this offer to hundreds if not thousands of their customers and the number for the estimate was generated by a formula, not by looking up your actual premium. They are required to include and estimate of the cost whether you pay it with the loan...
Erin Said:Term Life Insurances-Insurance Law?We Answered:Your biggest exposure is probably auto insurance. I would suggest increasing your limits, and getting an umbrella policy. Also, increase your physical damage deductibles for damage to your vehicles. Regarding the life insurance, there are many ways to deal with that. I would increase his term life insurance.
If you want more information,You can refer to this blog which show you an article about
Affordable Term Life Insurance Quote and Term Life Insurance Quote :
Affordable Term Life Insurance Quote Online:
http://affordable-termlife-insurancequot…
How to get The Best Term Life Insurance Quote ARTICLE
http://term-life-insurancequotes.blogspo…
Affordable Term Life...
Adrian Said:Life insurance for 18 year old?We Answered:it would be good but no she doesnt need itByron Said:what is life insurances?We Answered:Life insurance is the transfer of risk from oneself to another, for a fee. For example, I go to an agent, fill out the forms and am approved for insurance, now I must pay the company each month for the coverage amount I agreed to. Should I die, my beneficiaries will collect that face amount. If I stoppaying the premiums, the insurance will also stop.
Types of life ins.- Two types Term and Whole Life. 1) Term is...
Lauren Said:Best place to get life and critical illness insurance for a mortgage?We Answered:Mortgage protection life insurance has its place; it offers a degree of financial control after you pass. Sure, you can get a standard life insurance in the same amount as your mortgage, but who’s to say that’s what the money will be used for? Grieving family members do not always make the best investment decisions. And, unfortunately, disreputable financial advisors often try to take advantage of survivors. Mortgage protection life insurance guarantees that the insurance money will be used to protect your largest asset, your home. It...
Dawn Said:Does health insurance cover mortgages as in payment protector ?We Answered:NOPE...
Gene Said:how to sell these leads?We Answered:If I were you I would look at the FSA website as I think you will find that you will need to apply for permission before you can run this as a business.Janice Said:Who buys leads?We Answered:Buying leads can be costly and consider the fact that leads are sold over and over and over again. You could be buying leads that are a couple of years old also...
Why not go local? Go to some of your local businesses and ask if you can put a fish bowl out at their counter for business...
Nellie Said:insurance company refuses to pay compensation?We Answered:There may be a wait period such as 30, 60, 90 days of consecutive illness before the policy will pay. Find out what your waiting period is.Margaret Said:Is a monthly premium of $113 for MPPI on a $937/mo mortgage reasonable?We Answered:If this is protecting your mortgate payment against layoffs or illness, then it's extremely high. You'd have to have a claim every 9 months to equal the mortgage premium. I've had mortgages continuously for over 30 years and have never had a claim.
If you're talking about PMI -- Private Mortgage Insurance,...
Jerry Said:Is it good to escrow tax and insurance in your mortgage payment?We Answered:Here are the benefits of escrowing tax and insurance vs. not escrowing...
BENEFITS OF AN ESCROWED LOAN.
1. You don't have to worry about paying your property taxes every year. The mortgage company is responsible for paying your taxes in such a way that they save the most money (most tax authorities give a discount date for early payment).
2. Slightly better interest rate on your mortgage. An escrowed loan is less risky to the lender. If the loan is escrowed, the lender knows that the taxes...
Ann Said:Do you deny that there is a health care crisis in USA?We Answered:The crisis is the fraud in Medicare and Medicaid and the huge costs doctor's have to insure for medical malpractice, and this health care bill does nothing to address these issues. It's just another power grab from a power-hungry socialist president and his administration. It is unconstitutional for the government to tell us to buy something, anything, health care included....
Helen Said:AS an INSURANCE AGENT, how long are insurance appointment consultations for Life Insurance?We Answered:Of course there are many variations but you should budget 2 hours for the life insurance and mortgage protection and 3 hours for annuities. You'll also want to budget 1 hour for travel, even if the appointments are close to each other. The 1 hour gives you a buffer in case you go long with an appointment. As you gain experience you will be able to anticipate many questions and answer them in your presentation. This will cut the time drastically. Be aware that many people...
Walter Said:Can I get short term disability insurance to pay my mortgage if I have to have knee replacement surgery?We Answered:No, it's too late now. But anyway, you only collect the difference on the part your job pays you (likely STD) and 70% of your gross. You don't get gross pay.
It's rated based on how much you make, and how old you are, and what kind of health you're in. But again, it's too late to buy it now. I'd suggest you postpone it as long as possible, and start saving.Jimmy Said:I asked for a...
Sara Said:Will my credit scores allow me to get a mortgage at a goord rate?We Answered:Unfortunately, due to the recent mortgage crisis, anyone with less than a 660 is going to have a hard time getting a mortgage of any kind. There are plenty of people in your shoes though, who have had a crisis to two. My advice is to talk to a mortgage broker who may be able to work with a company that will accept your reasons for having a low credit score. Illness is the number 1 cause of bankruptcies in this country,...
Charlene Said:Will I qualify for pregnancy medicaid in texas?We Answered:Hi, I don't know the texas laws down there. But here is the site where you can find out if you do indeed qualify. Infact you can register online alot of times.
http://www.hhsc.state.tx.us/medicaid/med…
Below is the income requirements...
http://www.hhsc.state.tx.us/Help/HealthC…
It looks like if there are only the 2 in the household..your income amount cant be over...
$2,247 for preg medicaid
Also if you don't have insurance and cant afford it, they really cant deny you. I know that's in the state where I live now, and where I use to live in that state as well.
BTW CONGRATSNellie...
Wesley Said:im being made redundant in april i have a mortgage with a Friend, help need about what help i will receive? uk?We Answered:You will be entitled to some help with council tax. Contact your local department. Nothing will be done until you are actually out of work. The same goes for your mortgage insurance.Jennifer Said:Are there any Insurance Networks in UK?We Answered:Hi mate, some of the mortgage networks will actually let you join as a protection or insurance adviser only. So in effect they become both mortgage and insurance networks.
i hope this helps.
cheers,
kristianCurtis Said:UK buildings insurance for...
Cheryl Said:I have a FHA home loan with escrow. When my home owners insurance came due the bank would not pay.?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Timothy Said:Home loan v/s term insurance?We Answered:Home loan insurance is just a wrapper to sell term insurance at high rate. It is just a reducing term insurance (the insure amount reduces as you pay EMI).
It is always better to go for pure term insurance.Bobbie Said:When you include taxes and insurance into your home loan, does that only cover the first...
Benjamin Said:Will filing for bankruptcy benefit my home loan modification case (currently under review)?We Answered:There is no benefit to bankruptcy if you are up to date on your unsecured debt. There is a good chance you would spend a bunch of time and money going through the process and end up in Chapter 13 with only a small reduction in your payments. Things like car insurance could not possibly be reduced by bankruptcy and may actually go up if your credit is trashed.Bernard Said:For PMI insurance on a home loan. Isn't it the responibility of the Loan company...
Jeanne Said:Why would a investigator from a mortgage insurance come to our door asking questions about our loan?We Answered:Checking for Fraud and the possibility of Taking your current home to pay off your old mortgageLois Said:Is it a bad idea to get CMHC mortgage insurance when buying a house?We Answered:No, you don't have to put 20% down. But if you don't you need mortgage insurance - either from CMHC or another company to borrow from any major lender in Canada. There is a sliding percentage, highest with 5% down and reducing to nothing at 20% down. ...
Marie Said:i purchased payment protection insurance from npower how do i contact them?We Answered:Simples ! You can phone on 0845 071 4525 or use this link to email their Customer services
https://www.npower.com/At_home/Forms2/Cu…Tommy Said:Do you still trust Banks? £1.5 billion in excess profits made from unclaimable Payment Protection Insurance.?We Answered:If you or I were to do it we would be prosecuted for fraud. I fail to see any difference.Dora Said:PPI (Payment Protection Insurance) Help?We Answered:If you believe that you were missold this PPI, you can still make a complaint, but you'll need to be quick. I think the time-limit is...
Leonard Said:Insurance claim for home badly fire damaged. Does owner get replacement value, or only mortgage paid off?We Answered:totally depends on the policy - there are many kinds of policies...
Rafael Said:What good is housing insurance if the insurance companies don't pay you?We Answered:Not much! I don't think most of us have a problem with "passing around the hat" and helping these people.
Katrina was a horrible disaster. I have no problem faulting everyone in authority with not doing enough. Like many issues, though, it is so politicized that I doubt we will ever know all the facts about what happened and who failed to do what.
Find the problem and fix it. Worry about assigning blame later - there will be plenty of time for that, before...
Roberta Said:If you home is destroyed does insurance company pay off the mortgage and give you the rest to rebuild??We Answered:Not exactly.
First of all, there are a variety of possible "valuations" to a policy. The MOST the insurance company will pay (with a few exceptions), is the policy limit. So if you've way underinsured your house, you're NOT going to get the mortgage paid off, and money in your pocket. If you have a "market value" policy, you're only going to get "sales value", not cost to rebuild.
Secondly, the VAST VAST VAST majority...
Michelle Said:two people on a mortgage paying into mortgage insurance, one person dies what happens next?We Answered:It doesn't matter who's actually PAYING for the insurance.
You would have to read the policy, to see what's covered, under which circumstances. It's possible that your mother ALSO has to die before they pay out; or it's possible that the house will b e paid off.
You can't do anything. Your mom has to contact the insurance company, and file the claim.Anita Said:When do loans ( FHA and Conventional) require mortgage insurance?We Answered:VA does not- but does require a "funding fee"...
Karl Said:How to get out of a interest only mortgage!?We Answered:you have 2 options: refinance and again pay closing costs or pay more, than your mortgage payment like with credit card. if now you have good interest rate i will pay more on my mortgage payment. for about 3-4 first years of your 30 yrs mortgage you pay off your principal in about 1% per year, so it is really easy to calculate how much more you need to pay. there is no interest mortgage that you can't pay more on your principal- some of them have restriction no more...
Carol Said:i am applying for a mortgage for a townhouse. is mip insurance required up front plus a monthly fee?We Answered:As of December 27, 2005 condos require the up-front MIP. There are still a lot of references out there that say otherwise, but the HUD site is going to have the right information.
Some sources say that you can finance your up-front MIP costs, but you should speak to your lender to get advice about what is right for your situation.
Good luck with your purchase, and congratulations!Raul Said:do i have to have mortgage insurance?We Answered:Mortgage Insurance protects...
Willie Said:Is rental income loss tax deductible?We Answered:You need to read IRS pub 527 to get a handle on this.
1. Your mortgage payment is not an expense--the interest paid is.
2. Instead of principal, you get depreciation on the building (roughly 3-4%).
3. You need to rent at fair market value.
4. The depreciation invariably puts you negative.
5. The passive loss rules kick in. If you actively manage the property (while you don't do the plumbing, you are the one who calls the plumber if a pipe breaks) and your income isn't too high, you can deduct...
Erika Said:Expenses with regards to a step Daughter?We Answered:Ask your wife what she expects from you in that respectMiriam Said:Help me decide what to do to feed my family please!?We Answered:God forbid I would berate someone for needing help!
See if you can trade in the car, but if not, let it go-you're down, now, but you won't be forever. You'll recover from this low point.
Also, ask if you can get your food stamps sped up--if you have an immediate need for them, and the social worker can see you'll likely get them, she can request an "advance",...
George Said:Insurance for loss of job?We Answered:You may just want to save up money as an emergency account, that way when you pay enough into it to have 3-6 months worth of expenses, you can stop. Insurance, you'll just keep paying and paying...Doris Said:When someone gets indefinite leave to remain?We Answered:You are a little ignorant aren't you - i have a few friends who have ILR status and guess what they work and pay their own rent and council tax so get your facts straight before you go making these unpleasant and generalised statements.
I feel sorry for immigrants...
Rebecca Said:Married Filing Joint or Married Filing Separately?We Answered:If you file separately, then you can only claim the medical bills on one of the returns. In almost any case, filing jointly will give you the best advantage, Consult a tax professional to be sure.Erica Said:joint mortgage with ex girlfriend?We Answered:Your solicitor should be able to advise you further.
If you still have your keys you can wait till she is out and get the locks changed and they speak to your solicitor with regards to getting her removed from the deeds and the mortgage.Heidi Said:If a couple who had...
Claude Said:Why isn't PMI (Personal Mortgage Insurance), ever mentioned in the lender fiasco? Are banks collecting twice?We Answered:Good question. Just remember when you borrow you are asking someone to trust that you will repay. The lender is exposed to risk. Insurance is usually only required when you put down either a low or no down payment. Otherwise the value of the house is colateral. Beef up your down payment and insuance should not be required....
Tammy Said:Shuld there be an escrow account if the insurance and taxes are being paid by me and not the mortgage companyWe Answered:The mortgage, insurance etc. should be payed from the Escrow account.
But generally the way it works is that the home owner pays a monthly payment that includes mortgage, insurance etc. The portion for insurance accumulates in the escrow account and then is dispursed in a lump sum to pay the insurance.
Here's an example. You make a monthly payment of $1000 on a $700 mortgage. $300 is taxes, insurance etc. and accumulates in the...
Jose Said:Can your mortgage lender require PMI when your home value decreases?We Answered:Most mortgage contracts do not have a PMI clause for future equity changes. Furthermore, the mortgage holder doesnt have the time nor the money to order appraisals on mortgage inventories, to see if you need PMI.Eddie Said:FHA loan or lender PMI loan?We Answered:Joan,
There are some new rules in the FHA program. Now under the new legislation PMI does cancel at 80% LTV (when requested) or 78% LTV when reached through payments and pay downs. Here is the kicker in your situation, you have a lower payment...
Rodney Said:When does the clock start ticking in a short sale?We Answered:I am 57 days into a short sale.
It has been 57 days since lender received our purchase offer. BPO's have been done about 3 weeks but still no answer.
yeah it sounds about right. You cannot set a closing date until you hear from lender. And then they typically require 30 days to close. Then all of a sudden the bank is in a hurry.
I doubt you will make the July 15 date. Even if you heard this afternoon I doubt your lender could close in...
Francisco Said:Is Immediate Refinance an option?We Answered:I am a Senior Mortgage Officer. You have every right to refinance whenever you want. Here are a couple of things to consider:
You may have just paid closing costs on the loan you just closed unless your seller paid them. You will have closing costs on the new loan so you could risk paying them twice.
You may have a prepayment penalty on the loan you just closed. If so, these can often be steep charges ranging anywhere from 1% of the balance of the loan to as much as 6 months of interest....
Jorge Said:My lender transferred my mortgage. Why?We Answered:Except for the place where you send your check, it should be transparent and have no effect on you.
Most loan originators sell the loans shortly after closing.
In the financial products industry a mortgage is a product just like a car or a loaf of bread. It is possible your loan will be sold again, maybe 2 or 3 times.
In the old days local savings and loans usually held mortgages throughout their lives, however in the 1990's it became common practice to sell the loans to a consolidator that purchased thousands of them. The...
Colleen Said:do lenders really require wind and hail insurance?We Answered:OK, If you're in TX or Florida, and wind isn't built into your homeowners policy, then yes, a lender will require it.
I'm in Houston - we have wind coverage built into our policy, but with a 5% deductible - different from the rest of the policy.
Your neighbor could well be grandfathered in under an older policy form, which HAS wind coverage, or maybe he doesn't have a mortgage. In any case, it's crazy for him to assume that he can get an SBA loan to rebuild his house....
Scott Said:What, exactly, do banks do to EARN the interest on a mortgage loan?We Answered:I am not a lender. You are paying to use someone elses money. They give you 250k, and you agree to repay it with money to the lender.
This money, the interest collected, is the interest paid to the investors, people with their money in the banks accounts.
But, since we are greedy, the banks actually had to borrow that money from somewhere else and are paying a huge chuck of the interest collected from you to the entity they borrowed from.
If you have...
April Said:What type of insurance(life, health, motor, property, accident) that is suitable for this couple?We Answered:Any form of insurance is best to go accordance to your budget and needs.
I think most country now is mandatory to purchase motor insurance for your vehicles (if not, you may not be able to renew either your road tax or registration).Premiums are lower if your car is non-metallic colour, low CC, and park in lock-up garage.
It is advisable to get building and contents insurance (against fire, flood, damage and theft) because rebuilding or renovate your home will cost a bomb, in the event...
Leona Said:A company to provide accounting & taxes, life & auto insurance mortgage heloc debt consolidation, suggest nameWe Answered:I used "DebtConsolidationCenter" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%. It's legitimate. I came across this company on NBC News Special Edition. Check it out here.
FREE debt consultation online. Featured on NBC. Get Your Consultation FREE of Charge:
http://www.wahor.net/debt
:)...
Chris Said:Is a mortgage broker best?We Answered:His best interest should be the same as yours. If you feel it's not then you should look elsewhere. In my opinion, a mortgage broker should not be charging more than 1 point. Those that charge more are not doing a better job. They are just making more money.
As for shopping around yourself, if you have good credit and a straight forward situation then this is possible. If you may have problems qualifying, don't understand a lot of the finance terms, or want non-standard terms then you should stick...
Gina Said:any advice about cheap life insurance people, to pay for funeral when i die?We Answered:Look, when you're talking about a very low value policy to pay death/funeral benefits, that's the MOST expensive kind of insurance to buy. The amount of coverage you get, for what it costs, is NOT a good deal for people who are good at math.
Let's assume you're 30 and perfectly healthy and not overweight. You can buy a $10,000 guarangeed issue whole life policy for about $10 a month. Or, you could buy a 20 year term policy, for...
Angela Said:Do Joe Conservatives need cry baby Liberals?We Answered:So you are saying libs did all these things on their own with no participation from conservatives? Really? I would like you to name the libs in each of these cases that you copied from somewhere but didn't show us the link.Jeremy Said:Are all republicans like Joe? I believe so, what do you think?We Answered:a bit long winded, but, a partisan mind can easily believe up is down, good is bad, and only what one believes is noted!Tommy Said:Why is conservatism a mental disorder?We Answered:This is old, but it does make a...
Bessie Said:Is mortgage disability insurance a good idea?We Answered:I would get whole life insurance outside of our employers program. Many times there is disability coverage, plus there is a cash value on whole life that can be borrowed against in the future for loans to yourself, like for other real estate purchases. If you're a non-smoker with no DUI's on your record its only like $25 per month. Money well spent!Betty Said:I want to take a mortgage life insurance plan. Please tell me what is that?We Answered:Mortgage life insurance plan is a form of decreasing term life...
Lauren Said:how can i get started or how can i become an independent broker for life insurance or other investment product?We Answered:I started out the EXACT SAME WAY! I started with an insurance company but I felt they were not doing what was best for my clients (they weren't doing anything wrong or shady, they just weren't the best at everything all the time).
I left and became an independent broker. Now I can mix and match and find the best product to match the situation EVERY TIME! The good news in you are likely already trained, now...
Franklin Said:if someone becomes a life insurance broker how does he obtain quotes for clients?We Answered:If you have been in the Insurance field for any length of time you should already know this, but I might be able to clear away any remaining "fog" you might have.
First, if you are a captive agent, you have to terminate your contract with the company you work for. If you are an independent agent, you have to terminate agreements you have with any and all GA's, or MGA's you are entered into.
You then approach every insurance company whom you want to market...
Billie Said:Will it be possible to use VB 6.0 programming language for a hand-held calculator. ::: Manmadha Rao :::?We Answered:go ahead and write, its more like is VB compatible with most portable operating systems, but alright go head give it a shot....Phyllis Said:Is this really possible? Mutual funds vs Whole life insurance?We Answered:no it is not too realistic. 8-10% is about what you might actually expect. Call it 9%. $486,000.Jacob Said:I have a a term life insurance calculator?We Answered:I don't know of any site that lists all insurance companies off hand, you will want to probably start by...
Erika Said:Are private Life Insurance players as good as LIC?We Answered:Yes.Jo Said:Term life insurance and Type 2 Diabetes?We Answered:1: NEVER SHOP ONLINE FOR INSURANCE! online quotes are almost 100% of the time based on super preferred health status so their quote comes up on top. Super PRefered health status is essentially subhuman health....hardly had a cold in your life type of thing. If you have any doubts that you are super prefered, don't apply online, if you get approved, you're rates will be increased in most cases.
Go to a lisensed insurance broker so they can assess...
Victoria Said:how much for term life insurance? compared to whole life?We Answered:The Term vs. Whole Life is an odd debate. Most people often recommend term and forget about all the details becuase they've read "Buy Term and invest the rest" so many times. Sadly, most people that Buy Term, don't invest the rest and when they hit 50 years old they are now paying hundreds of dollars a month for insurance and have nothing for savings or they don't have the disapline and knowledge to invest to 'self-insure' themselves. Then when they hit age 75 or 80,...
Naomi Said:How to get quotes from insurance providers for a new comparison website?We Answered:You can buy an app to place on your site from services like CompuQuote, iPipeline or Norvax. I'm not sure if they'll let you wrap your own UI around the API, but you should call them to ask.Glenn Said:Looking to purchase life insurance, know very litle bout it, just know i want to be covered, where do i startWe Answered:No life insurance is FDIC insured.
I would suggest you first find a independent broker. Try searching yellowpages.com for life insurance brokers in your area.
I would not use...
Willie Said:What is the average cost of life insurance?We Answered:Thats a tricky question because without knowing more then you really cant actually give you an accurate qoutation. However, the important thing is to know that there are really two types of policies - term life and whole life - the former requires a lower monthly/yearly premium but does not give any cash value during the life of the policy. So say you pay 350.00 for a year, if nothing happens, you dont get back any money. The Whole life has a much higher premium but you do get back money...
Julia Said:Liberals,what do you think of this story?We Answered:Very well said.Todd Said:Have you heard about Joe the Republican's day?We Answered:Ah...to see things from one point of view. Ignorance really is bliss....Erin Said:Have you heard of Joe the Republican?We Answered:I'll drink to that....
Phillip Said:What sort of Life assurance / mortgage cover do i need?We Answered:You need a level term insurance policy to run the length of time your mortgage is left. Options you also have are
Joint life first death - Meaning one policy with two people on it and the first person to die the money pays out and policy ends.
Two Single Policies - For a small price more you can have a single policy of which when the one who owns the policy dies the money is paid out. The benefit of this is that something happens the both of you...
Mattie Said:Life Insurance?We Answered:Use a thirty year level term policy. The agent who helps you get the policy should provide a financial needs analysis, free of charge, to be sure you get the correct amount of coverage for the correct length of time. The face amount you get right now, does NOT have to be the same in 5, 10, 15 years. At each of those places, you could sit with that same planner and review your goals. You can then increase or decrease the face amount as needed.
By using the thirty year level term, you pay the same premium...
Bill Said:bad credit, in debt, need a loan for $15,000.00 would like to find a collateral assignment lender (Life ins.)?We Answered:There are plenty of places that offer loans for people with bad credit with no-hassle applications and easy requirements.
Some of these lenders even offer 1 minute approvals, and have both secured and unsecured loans, depending on your need and situation. Check the page listed below, it has information and bad credit lenders listed off and on.
http://www.axalda.info/bad-credit-loans.…Lois Said:How would foreclosure and/or bankruptcy affect securities and life insurance licenses?We Answered:Have you considered a shortsale? When people are facing foreclosure the first...
Patrick Said:do we need more life insurance?We Answered:Hi Chocoholic - love your ID. If you wish, you may reach me by my email on my profile page. I suspect if I knew more facts about your situation, that you may need little, if any, more life insurance. Remember that salespeople only eat if they sell you something. Whether you actually need it at all, or need as much as they wish to sell you is secondary to the goal of getting the big commission they get from your early premiums. Note the suggestion above to buy $1,000,000. This...
Suzanne Said:Is it normal to fall in love with two men at the same time?We Answered:I'd have to say that it is possible to fall in love with two guys, but you can only ever be with one.
For you, the choice should be easy. #1
# 2 has struck you before. That just means he will do so again if you give him half a chance. Men like that deserve to live their lives alone. And die alone. He isn't "macho," he's a scared wimp....
Cynthia Said:Democrats, what do you think of this story?We Answered:Great analogy, people can be extremely hypocritical about the facts but the reality is that responsible Fiscal programs have always been in place in order to provide us with the basic necessities of life...If helping others is Socialistic than I guess everyone in this country is a Socialist....
the fact of the matter is that Social Programs can be part of a responsible "Fiscal Policy", because they help lift people out of poverty and prevent people from falling into poverty.(this is why Social Security was established)... The regulations put in place by...
Judy Said:Best type of Life Insurance for a 43 year old male smoker (UK)...??We Answered:This is quite simple to sort.
If your mortgage is repayment then you need a decreasing mortgage term by guarantee policy.
If your mortgage is interest only you level mortgage term by guarantee policy.
(A mortgage guarantee policy simply guarantees your mortgage to be paid off whether there is a rate increase or not. Rather a decreasing policy which is normally set between 5-10% runs into trouble if the rate goes higher.
Once you have decided on that ask yourself how much extra do you need above mortgage being...
Billie Said:Do I need to buy a life insurance because of mortgage?We Answered:An independent financial adviser would be able to help you answer this one. I guess it's partly down to how much of a contingency versus risk couple you are. The insurance may be an additional burden that you don't fancy much but then how much more of a burden is losing a partner unexpectedly who isn't as fully insured as they could be.....therein hangs the tail. I don't like to rain on any ones parade but having been put in a similar position, while money does...
Tonya Said:what is best pay my mortgage or invest ? I have 50,000 from a life insurance and my mortgage is 90,000.?We Answered:Since you are looking at reducing a mortgage or investing, I assume your home loan is either the only loan you have or it has the highest interest rate. If this is untrue, then the choices should be paying the highest interest loans or investing.
The smart move is to invest only if the net earnings from the investment would be higher than the interest you pay on your loans. A proper analysis would consider the present value...
Maurice Said:What type of Life Insurance is best for my husband and I? (We just purchased a home, we are both 23 years old)We Answered:This is a tough question, but this is Yahoo! Answers, so I'm here to help.
First, bankrate.com is a well-known, excellent website that has a calculator for this (see below).
If your insurance agent is "pressuring" you, I surmise that he/she is not acting in your best interest, but rather, his/hers. Purchasing life insurance, while prudent, is something that should be done with an advisor whom you trust completely and feel zero pressure.
For more information, please visit...
Matthew Said:Can any one give me tips to find the most affordable life insurance?We Answered:Try this site
usainsurancequotes.net
Here you can compare quotes from different companies...
Wanda Said:Life insurance quote online?We Answered:None. Find a reputable agent in your local area.Larry Said:Whats the best way to sell a non life insurance online?We Answered:. It is either LIFE insurance or it's NOT. There is NO 'non' life insurance. That might be called accident or health insurance.
But if there was NON life insurance, you couldn't sell it online because it has to be Regulated. And it isn't because it does NOT exist.
thank you.Mary Said:Is it wise to buy life insurance online?We Answered:Short answer: no
Online quotes are always based on the best...
Audrey Said:Can Life Insurance refuse payment after the 2 years suicide clause expires? Contrary to public belief, I've f?We Answered:The two year exemption is there to prevent someone from taking insurance with the intent of killing themselves. You would be hard pressed to find someone who planned to kill themselves more than two years down the road. So, unless the company is able to find proof that the policyholder did this, which they would be unlikely to even look for, they would not be able to refuse payment.Theresa Said:If someone commits suicide do the family get life insurance payment?We Answered:Most...
Anthony Said:Can States Take out Whole Life Insurance Policies on Their Employees?We Answered:Strictly speaking, if *any* companies are allowed to take out ''dead peasant'' policies on their employees, then the State or state agencies themselves would be able to do so. Whether or not they actually *do* may be a matter of political ethics - and would be an extremely interesting series of media articles that most politicians would just as soon avoid, I should think.Penny Said:Is there life insurance policies available through the military for spouses?We Answered:yes they do. its a supplement to the sgli that your...
Christian Said:How do I find insurance life policy for deceased ex-husband?We Answered:Here's my advice:
1) Call his employer and ask whether your ex-husband purchased group insurance there;
2) Check his bank statements and cancelled checks for at least the past year to see if he was making any electronic or check payments to an insurer;
3) Check his safety deposit box and personal papers.
4) Read his will, which may sometimes refer to insurance policies.
5) Ask his close friends, who may be able to give you information about insurance he mentioned to them.
6) If all else fails, you may be able to obtain limited...
Danielle Said:What is The Best Life Insurance Policy?We Answered:There is no best life insurance policy but there is a life insurance policy that is more suitable to your needs.
You need to look at your current financial situation before buying a life insurance policy.
Do you have home loan repayments, car load repayments, cost of living, children s education etc etc?
If this is the case then a term life insurance policy would be the better option.
With a term life insurance policy you can select the term the insurance will cover IE 10 years.
Also with a term life insurance policy the policy is...
Allan Said:How to Quickly Find the Best Term Life Insurance Quote?We Answered:The concept of term life insurance is very easy to understand. Term life insurance remains effective for a limited, predetermined time span. A term life insurance holder pays regular premium during the term of his life insurance policy. If the insurance holder dies during the term, death benefits directly go to the beneficiary.
Most of the life insurance policies offer variety of options but term life insurance offer only limited flexibility. Additionally, term life insurance does not make any cash value or any residual. After the expiry of term life...
Andy Said:Where I can compare life insurance quotes in India?We Answered:one website that i know is policybazaar (www.policybazaar.com).Samantha Said:What is a good website to compare life insurance quotes?We Answered:Try this site
http://free-best-life-insures-comparator-usa.blogspot.com/
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.Leah Said:Life insurance quotes make me save money?We Answered:Life insurance quotes are worse than worthless. First, any quote given doesn't take into account your health or other underwriting criteria, so they're rarely reliable. More importantly, comparing quotes is a...
Florence Said:What factors will affect term or permanent life insurance rates?We Answered:The insured's risk, policy design, administrative costs of the policy, and the company's competitive stance.
There are more risk factors than those who have tried to list them and there are other factors besides risk to the price of the policy.Charles Said:What height/weight ratio will get me best life insurance rates?We Answered:Each company has different height/weight charts, so there is no single answer to this question. However, the height /weight charts of several companies are available on the internet, and if you do a search using insure.com and enter...
Sam Said:Exactley how does term life insurance work?We Answered:OK, term is PURE insurance - a straight bet on whether or not you'll die, within a certain time period. I LOVE term insurance.
"Regular" life insurance would be whole life, universal, variable, etc - where they've added gimicky extras to it, at about 10X the price of term insurance.
Don't worry about the labels - think about what you want the insurance to do for you. PIck the product AFTER you've set the goal.
Me, I want my kids to be able to go through college, and hubby to...
Mario Said:Whole life insurance + "enricher" or extra payments on the mortgage?We Answered:As it turns out, yes, setting money aside for a whole life policy will generate commissions for your agent. That's how he makes money. It's an honest business folks, car salesmen get paid by selling, medical sales, same thing. Sales is a business, not a scam. There are bad advisors who represent so-so companies, I would check his credential's with the state insurance commission if I was concerned, and find another agent that represents a company with a proven track record. A smart agent would recommend the...
Angela Said:Ball park figure on how much life insurance would cost me? (more details given)?We Answered:If slightly overweight means 5-10 pounds, $200K of 20 year term coverage will likely cost you about $150 a year. With your husband, it would probably cost him around $300 a year.
These are WAG's. (Wild A** Guess). In order to get a real quote, you'll have to see a local agent, and fill out applications....
Patricia Said:Should I pay off my mortgage early or use this money to invest some where?We Answered:Paying off your home is a good investment, but usually not the best one. Investing in the stock market usually beats it, and buying another property, if you've got the cash flow, blows it out of the water.
I actually answered this in depth, with numbers, here:
http://www.searchlightcrusade.net/posts/…...
Jeanne Said:life insurance...(UK)?We Answered:I'm not trying to sound horrible, but at that age I would probably go for a high-interest savings account (out of which you could then pay for the funeral, etc.). She could then put monthly payments into that account, just like insurance payments. Also, if any circumstances change, she could stop payments for a while until everything is back on track. A lot of insurances would stop the cover in that case and many of those advertised on telly targeting older people would not even refund the payments you have made so far.
Life insurances are useful if...
Marlene Said:If i have life insurance with my employer, can I claim for a separate mortgage insurance with critical illnessWe Answered:Yes, there is no limit to the number of life policies you can have. However, the insurance company will want to know about the other policies before issuing a new policy. If you have too many policies that add up to a very high payout for your beneficiaries they'll wonder if you're planning on doing yourself in. For example, if you are making $30,000 per year and all of a sudden try to get several life policies that add up...
Ian Said:I have some mortgage life insurance. If the mortgage has changed is the insurance still good.?We Answered:If your question is, is the policy still in force, the answer is yes. The policy stays in force regardless of what happens with your mortgage.
In fact, it is important to realize that there is no such thing as "mortgage insurance" at least not in the category we're talking about. What it really is, is decreasing term life insurance. The product was created to somehow mimic the way a mortgage goes down when you pay it down over time. ...
Cathy Said:What is the difference between ordinary life insurance and term insurance?We Answered:Hi Abhik,
Here are the details:
1. term Insurance: Term insurance is pure insurance product. It is the base of any insurance product, be it a endowment insurance or ULIP. In term insurance, if policy holder dies, then only his / her nominee receives the sum assured. But in case policy holder survives the entire term, then he / she doesn't receive anything.
However premiums are very low and it should be taken to insure your financial obligations like home loan, personal loans etc. as well as your life.
2....
Shelly Said:Who owns a totaled financed car if loan is paid off by the other driver's insurance?company?We Answered:I'm in California, this maybe different for you-
If the other carrier is handling the total loss of the vehicle, they should be in touch with you to go over your options.
1). Depending on the carrier, they may settle it as "owner retained" meaning, they pay you the actual cash value of the vehicle (determined by the insurance co.) minus the salvage value and you keep the vehicle to do with what you wish.
2) They salvage the vehicle and keep the car and pay...
Lester Said:Taking out a student loan in the fall -- will it cover what I owe on my car loan?We Answered:Whether the student loan will cover these amounts will depend on the cost of attendance at your school and what your school's actual cost is. As a dependent student, you are able to borrow up to $5500/freshman year, $6500 sophomore year, and $7500/junior and senior years (if you're an independent student the amount increases by 4000/year). However, you cannot borrow more than your school's cost of attendance (so it depends on how much your school grants for living...
Jimmie Said:Is it standard policy to give a home loan without asking , borrower to have insurance policy ?We Answered:When applying for a home loan your credit report will be reviewed and you may be required to provide a number of other details, including: Employment and income records, Tax Returns for the last few years List of assets, List of liabilities and what you owe, Your budget showing monthly living expenses so that you can demonstrate an ability to pay.
http://www.worldbestloans.com/homeloans.htm
With this information you and your lender will be able to determine the kind of home loan and size of the...
Agnes Said:Can I get separate loan repayment insurance that isn't from the loan provider?We Answered:Look mate I price this insurance for a large bank and we do charge a lot more than independent insurers.
These people are probably the cheapest you'll find - I think you'll be amazed at how cheap they are:
www.paymentcare.co.uk
And yes you should be able to apply for cover even though you have already repaid some of your loan.Donald Said:can i cancel protection insurance on a loan?We Answered:It depends. What type of a loan is it? Some loans may come with the stipulation that you have protection insurance...
Pamela Said:Gross Income vs. Adjusted Gross Income?We Answered:Generally gross income!
To be conservative, use your AGI!...
Peggy Said:How much is mortgage insurance on mortgage loan of 122k? min washington state.?We Answered:Is based on how much you put down.Sherry Said:Private mortgage Insurance (PMI) I have on my mortgage loan. My loan is with Freddie Mac?We Answered:PMI is required if your loan-to-value ratio (LTV) on your first mortgage is more than 80%. For example, on a $100K home, you would not have to pay PMI on an $80K first, but you would on an $80.1K first.
Lenders require PMI to ensure that they don't take a loss on a home with an LTV that's greater than 80%. This is...
Frederick Said:How much should a GP charge to complete a short form to claim on loan protection insurance?We Answered:You should just call the GP and ask. Whenever I needed a doctor to sign off on a medical clearance, I needed to pay for an office visit, but maybe your doctor will make an exception.Terri Said:where can i get stand alone payment protection insurance form for a loan?We Answered:As a Financial Adviser I can confirm there are various life assurance companies that offer what is called income protection. In reality 90% of people working in the UK need some form...
Philip Said:Decode this man's behaviour!!?We Answered:I agree that he may have OTHER personal issues that he may be dealing with that he is not sharing with you. I also agree that he may not be entirely ready to "walk away" with out you taking the initiative to control your own affairs. I also agree that his face to face behavior is due to his own "putting his own foot in his mouth" and now is not happy about having to stand behind "his word". A man who is a REAL man will always stand behind his...
June Said:What is the best manual transmission car to purchase for a 16 year old regarding low insurance cost?We Answered:honda civicRosa Said:Low cost insurance?We Answered:a term policy for 150,000 will be cheaper if you get a 5 or ten yr policy instead of a 20 yr policy--also check into ART-annually renewable term policy-it will be even less premium yet the cost will increase annually--check with an insurance broker for some ideas--i am a retired insurance broker & retired CFP & CPA..good luck to you......Dwight Said:I am 40 yrs old male, lives in CA. Just out of job. I need low...
Tracy Said:What are the monthly expenses that would be added to my monthly mortgage?We Answered:Only PMI (Private Mortgage Insurance) will not be required if you put down 20%.
Other's like home owners insurance, proterty tax will be part of it apart from Principle + interest component.
Home owners Insurance can be coupled with the car insurance to get some discount on both.
Property tax is dependant on value of your house and rate can be found on your city/county web-site.Christy Said:If you refinance your home into FHA loan and have 20% equity do you still need monthly mortgage insurance?We Answered:FHA always requires PMI...
Jamie Said:For a mortgage affordability calculator - credit card debt is my monthly minimum payment? Or the balance total?We Answered:Total debt owed. If it wants monthly payments, it will say so.Amanda Said:Credit limit issue (Canada)?We Answered:That's what I did.
I reduced the limits on the cards.
I also pay in full - which is best for your credit.
When reducing limits keep in mind that any time that you use more than 30% of your available credit limit your score starts reducing.
Make the limit something you know that your usage will not exceed 30%.
Example: New limit 5,000, make sure you do...
Denise Said:have a question about monthly mortgage payment...?We Answered:Okay this question is so hard to answer not knowing where you live or values. I will give some advice.
First time homebuyers normally have a 3% downpayment. this will affect your MI Premium.
If you are going FHA its 1.5% of mortgage insurance upfront. That is added to your loan. Then its .5% of your mortgage. So say its 100,000 loan. They add 1.5% to that loan and your montly payment would be around 42 dollars a month for mortgage insurance FHA. FHA is always the...
Charles Said:Problems involving divorce, children, and money?We Answered:Every state is different. I live in NYS and my ex was responsible for paying 17% of his annual income for child support. In addition to that he was responsible for paying 60% of child care expense and 60% of medical coverage for our son. That was based on our income. He makes a great deal more then me so he paid the larger percentage of those things. If you leave he will pay child support based on income and whatever percentage is used in your state, he...
Katie Said:How do you access mortgage insurance if you are unable to make a payment?We Answered:You don't! While you do pay, it is to protect the lenders position not yours! If they have to file bankruptcy. The insurance helps them not you! Now to address the real issues. If you can't pay and have a good reason...you should contact the lender and talk to them about your situation. The phone number is on the monthly statement. Don't speak to the collection department that is just an exercize in futility they get paid to COLLECT! See the problem? Find a way...
Sarah Said:Mortgage Life insurance or regular Life insurance?We Answered:Mimi, actually, yes, Mortgage life DOES name the lender as BENEFICIARY. The LENDER is the one who gets paid. That's the POINT of it. I'm not talking about homeowners insurance, I'm talking about decreasing term life insurance, where the MORTGAGEE gets paid off, if you die. ONLY the mortage balance gets paid. ONLY the mortgagee gets paid.
Mortgage life insurance, is another name for "decreasing term life insurance". I'm not a fan, and here's why:
The premium you pay, stays the same, for the whole...
Ben Said:i had a survey done on the house i wish to purchase mortgage broker said everything went fine,,, but today?We Answered:I think the problem is you imagine you are dealing with an intelligent, professional person. No, you're dealing with someone who wants to sell you a mortgage, and neither knows nor cares about the state of the house you're buying.
Please don't worry too much about this, sounds as if the surveyor is being conscientious, and simply checking that the vendor has done the work she promised. This is in your interest, so it's good he's doing it....
Melinda Said:Mortgage Guesstimate...?We Answered:At 30 years this would be about $820 for principal and interest.
Taxes and intererst would bring it to about $980. This assumes you put 20% down so you don't have PMI. Don't forget home owners dues....
George Said:Will I be able to afford living on my own?We Answered:The banks have told millions of people that they too, would be okay. And look at them now....they just couldn't afford it and they're broke. But honestly, I think you are doing pretty well. With all of your monthly payments, and let's say your utilities come to an extra $200 a month, that puts your monthly spending at right around 2,000. Add in food shopping and other miscellaneous things, and there's a couple hundred more a month. Then there are those other things that...
Mario Said:Mortgage Calculator?We Answered:Bankrate has a decent one. The link below is for the calculator. You may want to look around the site though, it has some other useful calculators and loan comparison rates from companies....
Ken Said:Payment Calculators?We Answered:Property taxes differ from state to state and county to county. Same for insurance. Try to find a website for a local Real Estate Agent and take a look at some listings in your area. The listings should give you an idea of what property taxes are like in your area. Check with your local insurance agent for insurance rates. As you may or may not know, most mortgages will include in the monthly payment an amount for the taxes and insurance. Your monthly payment will consist of taxes, insurance, principle & interest. The principle is...
Harold Said:Can I afford this home?We Answered:As long as you are not leasing a Ferrari you should be fine. The bank will take all of your current payments that are showing on your credit report (credit card, cars, boats, recreational vehicle, timeshares) and add the new housing payment (principle interest taxes and insurance). The total is divided into your monthly income. As long as the total comes to right around $3k per month or less you should be fine. That based on 43% back end DTI on a monthly income of $7,083.
Something else I want to bring to your attention....
Sarah Said:Life insurance question - term life and term life with return of premium?We Answered:You can locate an independent agent by typing in your zip code at the agent locator tab, at www.iiaba.net, to answer your last question first. Sorry, I'm hitting them in opposite order! Online life insurance agents are going to deal with many areas of the country, and probably won't be as familiar with LOCAL options, as a LOCAL agent. Plus, you might get shuffled around the call center, to get to an agent licensed in YOUR state.
I'm not Pickle, but I can...
Theodore Said:How to use a Mortgage Calculator?We Answered:You must be entering something wrong. I just plugged your numbers ($85K annual income, $1000 monthly debt) into a mortgage calculator, assuming no down payment whatsoever and an interest rate of 6 percent, and wound up with a mortgage of about $230-$250K. That fits right in with the general guideline that your mortgage should be between 2.5 and 3.0 times your annual salary.
This is the calculator I used:
http://cgi.money.cnn.com/tools/houseaffo…Kristin Said:can a disabled couple on SSD get a mortgage?We Answered:I suspect you'd need to go with a WHEDA loan. You'll know more by...
Lydia Said:How do I figure out how much my house payment will be?We Answered:To cover living in the house you need to figure out 2 things for the loan, principal and Interest. On top of that you need to figure out what taxes and insurance are for the property. These two items vary greatly by location. Your real estate agent can tell you what taxes are for the area you are looking to live in.
For insurance, it not only varies greatly by location, it varies greatly by the age and type of house you are...
Bruce Said:Do you have a Will, Life Insurance and Insurance to cover your mortgage in case the worst happens?We Answered:I have all of those and even funeral instructions and I'm only 39.Marcus Said:What type of insurance do I need to get to cover me financially if I am unable to work / get to work?We Answered:Sounds like you are after income protection policy. There are price comparison sites to compare policies (be careful about small print). The Post Office have a policy called Lifestyle Protection (see their website). You say how much cocer you require and cost is based on...
Don Said:Mortgage buyers typically have to have homeowners insurance and do credit checks b4 receiving a loan...?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service....
Myrtle Said:If I seek help from my GP about depression, how will it affect my credit rating?We Answered:Hi
If it is depression it would be recorded as depression, it will not affect anything to do with credit and checks as it means breaking the data protection act.
Also you can ask your GP to do the appointment on the clinical IT system as personal and so if people do have access to the it will not been seen on the system only as confidentiality and will not be accessed.
I know people who have been in the Priory for worst believe...
Mildred Said:Need to get accident and critical illness cover for a mortgage in UK..?We Answered:Different companies will over diifferent types of cover. It should not be to difficult to find somewhere which gives life insurance and critical illness cover. Have a look at www.moneysupermarket.com under the life insurance section.
In fact the standard type of life and critical illness cover is to pay the sum assured (set to be the size of your mortgage) on death or diagnosis of a particular illness.. The kind of cover you mention above seems to be more of an income protection policy rather than a...
Terrence Said:husband(death),spouse disabled(mortgage,insurance)?We Answered:There's no where NEAR enough information to begin to give you advice. You don't mention if:
your stepfather has life insurance that would pay out
how much money mom has
if mom qualifies for, or has, disability insurance
if you even want to try keeping the house, or how much equity mom has in it
how much "stuff" or value for what they own
if your mom is at full recovery
if mom can live on her own, or needs nursing care for the rest of her life
So you should probably talk to a financial planner, an estate planner, an...
Eddie Said:pls help me. Financial Statements 2.1 Consider the following balance sheet entries for War Eagle Corporation?We Answered:I recommend the following text reading to solve your problems.
esminfo.prenhall.com/sample_chapters/p…Vivian Said:Personal finance help only 10 questions!?We Answered:1. Lease
2. Bumper to bumper warranty
3. Depreciation
4.
5. Insurance premiums
6. Reliability
7.
8. Wholesale value
9.
10 Kelly blue book...Nina Said:Accounting question of course having a real hard time.?We Answered:1) classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued revenue (accrued asset).
1.subscriptions received in advance by a magazine...
Alexander Said:Is mortgage Default insurance are mandatory or optional?We Answered:It will depend on the lender but industry practice is to require insurance with less than 20% down.Georgia Said:Why did i pay default insurance on my mortgage?We Answered:I have never heard of a "default Insurance thing" you need to use big boy words so that we understand.
It may be PMI (private mortgage insurance), since you put less then 20% down.
Who has the mortgage (loan) on the property.
The problem is, fraud was committed here and YOU KNEW ABOUT IT. I'm guessing you don't have much recourse. It...
Roger Said:"Hardship Letter" for Mortgage Company.?We Answered:the deciding factor would probably be the reduced income - you'll need good proof of that, but ifCorey Said:My grandmother bought a house for my mother to stay in. She passed away 5 years ago with no will.?We Answered:You will have to go to probate court and have the ownership legally transfered over to your mother and any other heirs. Your mom is not committing a crime, but she should have the property probated.
There might be some IRS penalties because all estate taxes are suppost to be paid within one year after the...
Dianne Said:My mortgage disability insurance is running out,december 2006,plus I'm behind my property taxes,wat would I doWe Answered:Get in touch with a Real Estate Agent and find out what the property values are doing in your neighborhood. Make a list and see how much you owe. Then go to the Bank and let them know whats going on. They will give you some grace period to sell your home before they start foreclosure. Good luck!Paula Said:Mortgage disability Insurance policies?We Answered:You cannot purchase disability insurance once you are disabled. The time to purchase this type of coverage is BEFORE...
Doris Said:Can anyone show me where I can find typical insurance agent contracts (employment)?We Answered:Unfortunately, I have not seen ANY "standard" agent contracts out there. It seems that each company's legal department wants to show off their prowess and make it a "one sided" contract - where it SHOULD be a "two way street."
If she doesn't feel comfortable with the contract, tell her to walk away and find some other company.
I have seen contracts that have a clause "if we think you owe us any money, we own YOUR furniture and all office equipment." Just tell...
Howard Said:Who should I contact about Mortgage Fraud?We Answered:call the deparment of justice.Salvador Said:Possible Home Insurance Fraud - What to do?We Answered:Well, there are two things going on.
First, it doesn't sound like the tenants actually committed any insurance fraud. Getting the money to fix the damages, and NOT fixing the damages, is NOT fraud. Telling the insurance company they own the home, when they don't, IS fraud. If the deed hasn't been transferred to them, it's under contract, but still YOUR house.
Second, you are probably going to have a VERY hard time getting a...
Glen Said:Becoming a landlord, advice please!?We Answered:England/Wales
Deposit protection is the landlords cost - but http://www.depositprotection.com don't charge.
References can be paid for by you or the tenant - making the tenant pay can be off-putting for prospective tenants.
Electrical tests are not compulsory in a non-HMO property - but you do need to know what the electics are safe.
Again, in a non-HMO, fire precautions are not compulsory
If you are letting to more than 1 family, you will need C4 planning permission
If you are letting to more than one family, you MAY need a HMO license - phone the council housing department.
Make sure...
Annie Said:In Florida, how much (or what %) escrow can my mortgage holder legally withhold for taxes & insurance?We Answered:They can only withhold the amount specified in the mortgage or escrow documentation. This is called an "impound" account. This money is not theirs, they just collect it for your and give it to the taxing authority when it's due.
The amount is really simple to calculate. Call your tax assessor and ask them. Also ask them to send you a copy of all tax bills that are sent to the mortgage company.
Since taxes don't change, you can demand that they withhold...
Enrique Said:You've recieved the memos from your work, insurance, and mortgage companies about the health care bill....?We Answered:Like my name says, Liberals are delusional. As we type, insurance companies are sending out letters of rate hikes, coverage changes and possible insurances being dropped altogether in preparation of the employment of Obama Care.Judith Said:Those of you who have worked and managed your money to be able to pay for your home mortgage while struggling?We Answered:It makes me want to work harder so I am never eligible for those government programs, call me selfish but I believe if you want something,...
Danielle Said:Home Insurance? Home Warranty? Mortgage Insurance?We Answered:1. kommonly kalled homeoeners inshuer...inshuer hous & stuf init.
protekt ginst fire, storm hert hous, buglar
maby add riders tu protekt ginst flood, erthquake
1.2 if yu get morgage wen yu bi hous, bank will insist on homeoeners inshuer on the hous. Most banks hav inshuer kumpanee em yuze & em bi this.
Bank setup eskro yu pae intu tu pae for this inshuer & for property tax
2. If theer is warantee, seller provide it...protekt ginst stuff in hous brake down for next 2 or 3 yeers...thangs like furnans, ac, plumbing.
3. morgage inshuer...If yu put...
Ramona Said:Is it mandatory that you carry homeowners insurance?We Answered:If you own your house free and clear you do not have to have insurance. Your mortgage has a clause explaining to you that , if the house burns down, they don't have anything to put a mortgage on. So you must protect them by keeping insurance. If they don't receive proof that you have insurance, they will hire an insurance company for you and add it to your mortgage.Frank Said:when buying a house do i have to get homeowners insurance through the mortgage company, or can i...
Eileen Said:How do I get a home loan whilst you are Centrelink Payments and earning cash in hand money with bad credit?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....
Bessie Said:What is HUD 1 or final HUD in US Mortgage ?We Answered:a hud 1 or final hud it the final figures you have when they close the loan on a mortgage. this includes your lender fees APR and all fees included in the loan and the closing to include title insurance etc. this is the final numbers it is exacty what you paid and will pay in interest and fee's to the penny! you get a preliminary estimate in the initial stages of the loan once the rates are locked and the loan is approved...
Dawn Said:Benefits agency- is it illegal for them to expect me to live on 20p a week?We Answered:Call the job centre and make an appointment to explain the situation to them. Show them letters from the bank (if you have them) saying that they are not supplying you with any sort of income, and perhaps take bank statements showing how little you have coming in. Explain that you are living on 20p a week (I assume it is the rest of the job seekers that they send to the bank). I would also contact the bank, because if they're both...
Marvin Said:Would the world be a happier place if we were charged a fixed fee for our mortgages....?We Answered:islam is not a complete waste of time then
fractional reserve banking will be the death of this planet
what's sickening is, banks keep all their profits, yet, when theyre in trouble, we all have to pay for their losses (northern rock)
and now 1000s of northern rock staff have lost their job because the bosses were too greedy and stupid
it stinksJuan Said:Mortgage indemnity insurance & negative equity?We Answered:With a mortgage - all borrowers a jointly and severably liable for the debt. MIG only protects...
Edgar Said:Inherited house but no funds to pay mortgage, taxes, insurance, etc. Any advice? ?We Answered: Each state has different laws and I have no idea which state the house is in. If the person who died had money (cash) that money must be used to pay all monies owed before family's get anything. For an example your aunt had a bank account and the balance was 55,000 the day she died. That money needs to settle her estate. If the mortgage is over that then make payments from this account until the house sells.Edwin Said:how do i go about...
Marshall Said:How do I rent my house out? (LLC? Insurance? Mortgage?)?We Answered:Hi Jay -
Don't bother with the LLC. Your mortgage will not transfer to one anyway. It does not give you the protection you think it does. Your current insurance company should be able to just change to a non-owner occupied policy. Your best bet is to get a good property manager to handle the details for you, but if you'd like to rent it out yourself, make sure your tenants are advised to get insurance on their personal belongings. As far as your fiance/wife is concerned, as long...
Jeffery Said:Mortgage insurance, will it pay my mortgage while husband is sick?We Answered:I hate to sound morbid here, but generally speaking mortgage insurance payments become effective only in case of the the person's death. I am pretty sure it does not include illness which may cause him not to work. This would probably be covered by Workman's comp. Or disability insurance.Leona Said:Can I get out of paying my mortgage insurance if my home appraises for more than 20% of the amount I owe?We Answered:YES!
Talk to your mortgage servicer (the co. that sends you the mortgage statement) about their proceedure...
Chris Said:Do you believe in the Denticare system for Australia?We Answered:No not at all, it is a bad ideaKenneth Said:Renting our UK property out and moving overseas. TAX ?We Answered:Hi!
You should register to join the NRL scheme with forms NRL1. This allows you to get your rents paid gross to you, so your letting agent will not withhold any tax at source. They are obliged to do this by law but when the NRL1 is prcessed, they get a letter (NRL8) sent to them. If your house is jointly owned, you will both need to do a form.
http://www.hmrc.gov.uk/cnr/nr_landlords.…
You will more...
Jean Said:How can I deal with a mean person every day?We Answered:Check around for your community's social or legal services and talk to an attorney asap. If the house is in your name, it's your house....period.
However, since he's violent, you might be able to check with a local shelter. They can guide you on how to get out safely and of course your kids would be there, too.
But you can't play games with this. You don't mention if you still think you love him or not...but your kids need out of this environment ASAP.
There's...
Alberto Said:If you had to choose which one Mortgage Industry or Insurance?We Answered:I do both, and I recommend you do the same. As a Financial Planner, I work in all financial areas for my clients. The more tasks that you can complete in-house, the better you can serve your clients, and the higher will be your retention rate.
On a personal note, you don't leave as much money on the table if you can do everything. If you had to choose, I'd stick with mortgages for now.
Good luck!Carlos Said:How much does a homeowner's insurance broker make?We Answered:In many...
Andrew Said:Rental Business: question for mortgage brokers. if I recevied social services..?We Answered:u cannot be a landlord and RE investor and collect SSI; that
is committing a felony. AFTER their auditor learns something
is fishy, you will have free time for many years to contemplate
future investments.
studying investing while on SSI is one thing, to own
rental prop and being on it........in one minute, the
state can attach your prop.
YOU are, excuse me, begging for trouble.Lonnie Said:Mortgage brokers, realtors, and Lawyers take so long to pay?We Answered:First: Appear PERSONALLY at your lawyer's office and demand the contact information for...
Emma Said:how do I calculate mortgage insurance?We Answered:there are too many factors for you to calculate it - starting with which KIND of mortgage insurance you're talking about.Sergio Said:how do you calculate Mortgage Insurance?We Answered:Here is a rate(factor) card:
http://www.mgic.com/pdfs/71-6704.pdf
This is for calculating standard MI. Look at page 2, it will give you a little more of an idea. This card is the actual card we Lenders use to price MI for GFE's. If we are off, underwriters will adjust MI appropriately.
As far as the actual calculation... here we go(so I believe). Take the appropriate factor and...
Diane Said:can itemized deductions be less than federal adjusted gross?We Answered:Some states allow for additional deductions, so, yes, your state itemizations can be more than your Federal itemized deductions.Doris Said:Can someone pls explain how my house mortgage payments benefit me in terms of tax credit?We Answered:There is no guarantee that it will "benefit" you. However, mortgage loan interest and property taxes are deductible on your income tax return if you itemize your deductions. For most people in that situation, itemizing deductions results in less tax liability than taking the standard deduction.
Your monthly mortgage payment amount is not...
Jean Said:The pattel family purchased a home and took out a mortgage. Piti payment of the loan?We Answered:B. $1932 principal and interest monthly payment + 528.75 month tax &123.25 home owners insurance.Cassandra Said:How can I accurately calculate a mortgage payment?We Answered:your monthly principle and interest on a $125,000 loan at 6% for 30 years is $745.71 with $635. going to interest and $120.71 to principle in the fist month slowly changing to more princplie then interest over time, the you add taxes, insurence, home owners *** if needed and mi if needed to that
what you figured is almost as if...
Sandra Said:Do the online mortgage calculators take into consideration taxes and mortgage insurance?We Answered:In general, "NO". some will give you an opportunity to put in taxes, insurance, and PMI.Adrian Said:Mortgage Calculators?We Answered:Your mortgage broker can supply most of the information you will need.
If you wanted to do this by yourself consider the following.
You can figure out the mortgage payment with the online calculators.
The property taxes are set by the county and there will be information that they can provide. Depending on how the taxes will be paid it might be something you pay in 2 payments or it might be...
Lewis Said:Southern California residents who work for a mortgage company?We Answered:Yes, both my daughter and a friend's daughter work in mortgage lending. They have both experienced major downsizing because of the problems with the sub-prime loans. Both these ladies are in L.A/San Bernardino area. It's all over the country, too.Marilyn Said:Is there any assistance for my underwater mortgage in California?We Answered:Most people offering advice only go by what they read. When you're the one who is actually trying to go through the process it is quite different. I have associates who are doing what your friend is doing and at...
Josephine Said:Chances of getting approved for a mortgage? Canada?We Answered:I don't know, but I had a discharged bankrupt woman get approved for a mortgage, so it is possible. What are the lenders worried about? Would your debt to income ratio be too high? Are the carrying costs too much (including some heat and taxes)?
Have your mortgage broker provide more information as to the reasons - then you can more likely find a way to remedy them.Mattie Said:Rental Business: Mortgage Insurance Fee Dilemma?We Answered:that is for a judge to decide. Canada and the US want more
properties...
Ian Said:Home owners insurance cancelled?We Answered:There is no appeal process.
All you can do is shop around and find a policy with another company.
You may want to talk to an independent insurance broker. That's an agent that writes for more than one company.Casey Said:If I buy a house as an investment, hold it one year, and then sell it for a loss, what's the tax treatment?We Answered:This is a facts and circumstances thing.
You have to show that this *wasn't* a second home. If you ever used it personally, it won't qualify as investment property.
If you do not regulary flip houses,...
Felicia Said:What right does my Mortgage company have to lay hands on MY Homeowners Ins. Claims check?We Answered:Every insurance company will put the mortgage company on the check if the damages are over a certain amount. For most, it is $5,000.00. This is a fail safe for the insurance company and the mortgage company.
Lets say for instance, you have an older home, that might not be worth a lot of money, but to rebuild it after a devastating fire would be more than the market price of the home. Without the mortgage company on the check, the homeowner could just...
Scott Said:Why is the government growing bigger than ever, regulating insurance co's and buying up home mortgage notes?We Answered:Brthurst is correct. I would only like to add one thing. It's a well known fact that it is the Democrats that are trying to socialize the US. Universal health care, social/welfare programs to make more and more people dependent on the government, re-distribution of wealth, etc. Some of it may sound like a 'warm fuzzy' idea but in reality it is a failed idea. Especially to people like Americans who have lived with and value our freedoms. ...
Francisco Said:Please reference the FL law preventing release of info to parties not listed on a homeowners policy.?We Answered:Yes, there are Federal and State privacy laws in place.
http://www.bbbonline.org/UnderstandingPr…
is a place to see them.Lonnie Said:Insurance claim question?We Answered:First, you did nothing wrong. Second, you are NOT required to hand those claim papers over, BUT, be aware that when the buyer goes to get HIS insurance on the house, YOUR CLAIM will be reported to his new carrier, and they might likely refuse to insure the house for him, without that information.
That means, the sale will fall...
Nellie Said:Trying to buy a short sale...?We Answered:Justin is correct, it all depends on what its worth.
I should let you know that you probably have at least a 45 day wait before you get an answer back from Fannie and the the PMI, as to whether they will approve the file or not. I should also warn you that one of them may come back and counter as well. Not trying to discourage you, just letting you know reality. I have had a couple files at BofA that had both, and had a quick turn around, but most of...
Andy Said:Which insurance companies offer mortgage unemployment insurance?We Answered:I have heard of disability coverage but not unemploymentHolly Said:What insurance companies in California offer mortgage unemployment insurance?We Answered:None. There is no mortgage unemployment insurance. Unemployment insurance is so unprofitable, that it's only offered through the states, with mandatory participation by all employers in that state.Bobbie Said:The US Gov't now owns a mortgage companies & Insurance Companies (AIG). What's wrong with this picture?We Answered:It is a very distorted picture. If the federal government did not step in, the global system would be collapsing right now. So much for free markets...
Linda Said:Why not universal health care for the United States?We Answered:You won't get a sensible answer here I'm afraid. Americans are too attached to their overpriced and overated system. They are told it's the best so they believe it and just try to trash other countries.
The truth is in almost every country with universal health care people live longer on average (3% longer in the case of your country) and the infant mortality rate is lower (30% lower in Canada than the US).
Those appaling figures are with the most expensive healthcare system in the world... and for some reason they...
Erika Said:Can mortgage company file an insurance claim on 3 year old foreclosed home that was included in bankruptcy?We Answered:I'm not an expert in Bankruptcy and foreclosure procedures but this doesn't smell right. If the damage to the roof occurred during the time that your insurance was in force, why are they only now contacting you? To my knowledge, all HO insurance coverage is based on the date of the occurrence or loss. That means that whichever insurance company was insuring the home at the time the loss occurred, is responsible to handle and pay the claim....
Mark Said:How should I start off my path to real estate?We Answered:Check ALLIED real estate school online for info, I got a license from them.Arnold Said:Any other women in their early twenties feel this way?We Answered:YEAH I FEEL YA GURL I'M 24 AND FEEL THE SAME DAMN WAYShirley Said:Could you please give me some advice on a refinance of my mortgage? Details...?We Answered:What you've been offered is a very, very bad deal.
The lender is using your mortgage as a debt consolidation loan. You're taking all sorts of little and moderate debts--ones that'll be paid off soon--and putting them into a...
Jay Said:Obama cuts, looks more like taxes and more taxes, will he ever tell the truth?We Answered:People wonder why we hate him.
and he has the gall to do it with a straight face.
what a skid mark on the white house....
Don Said:So what do you think of the fact that McCain is linked to the Mortgage banking crisis?We Answered:More democrat talking points. Maybe you should blame McCain for the everything that has happened in the world for the last ten years. He must be very powerful.Georgia Said:Corporation Home Ownership?We Answered:I'm pretty sure you have to allocate any and all expenses between personal and business use. So the tax advantages wouldn't be as great as you're describing in your question.Courtney Said:What do you think about this Bailout Could Help Illegal Immigrants ?We Answered:Another reason I don't support a bail out.Illegals benefitting.Janice...
Melinda Said:What is the lowest possible amount a mortgage company will allow you to insure a house for flood insurance?We Answered:It is for the same amount as your fire insurance policy, up to the maximum amount of coverage insurable under FEMA rules. This coverage is based (or should be based) on the replacement cost of your home, but can be based on the amount of your mortgage loan if that is the lower. If your house is in a Flood Zone A or V, this flood insurance coverage is expensive and will cost you about twice as much as your...
Velma Said:Mortgage closing costs question?We Answered:I had to put 20% down to avoid the private mortgage insurance...Joann Said:What is the average cost for private mortgage insurance on a FHA loan?We Answered:Around $50-$70 a month....
Lucille Said:What exactly does Private Mortgage Insurance cover?We Answered:Private mortgage insurance, covers THE BANK, if they have to foreclose on your house, and end up selling your house at auction after foreclosure, for less than the balance on your loan.
Then they STILL can sue you for the difference! And you'll still owe it!
You have it until you have 20% equity in your home.
It's something YOU buy, but you'll NEVER benefit from it. Except being able to have a mortgage.Leo Said:What does mortgage insurance cover and do you need it?We Answered:It covers the bank - if you die,...
Chester Said:if you are paying a mortgage and have full insurance coverage on the home does it matter if you live somewhere?We Answered:yes. most insurance contracts require the named insured to live in the residence. Better to let your agent know you don't live there, and he can write a different policy for you for the house. All the lender cares about is if they are protected, so they won't give you a hard time.
Call your agent, let them know you don't live in the home, they can write a rental property policy for you....
Dale Said:mortgage insurance?We Answered:Life insurance. Either a plain old straight term life, which is the best deal, or a mortgage life, which is actually a term policy with a decreasing amount that pays the lender directly....
Mattie Said:Mortgage interest deduction?We Answered:Hello There!
Well, I have a few questions for you.
Do you live in the house? Why is the house in your name? That is a very dangerous thing to do for a friend or a relative! You could end up with really screwed up credit if the house should ever go into foreclosure or have any late payments on the mortgage.
You should immediately go to a lawyer, and get your cousins name added to the ownership of the house. Yes, get it in both names if you aren't paying any thing for it....
Tommy Said:i need help with vocabulary words?We Answered:What no online dictionaries? And use them in a sentence so you show your teacher that you know what each word means.Leonard Said:Base flood probability?We Answered:what's the probabiliyu the flood won't occur?
(1-0.01)^100 ~ 1/e ~ 0.368
so the probability it will occur =
1 - 1/e ~ 0.632Bobby Said:How much of the $2 trillion in new debt would you pay this year to see Obama's policies implemented?We Answered:If we could have all the debt we incrued by the illegal Iraqi war, we could pay for all of what Obama wants, and more.Lillian Said:Need...
Norma Said:Mortgage Insurance?We Answered:Mortgage insurance does not help the borrower in any way. Mortgage insurance is insurance the lender has on the loan in case of a default. The borrower pays the costs of the insurance. Usually, a 20% down payment will eliminate the need for any mortgage insurance unless you are getting an FHA or VA loan. It is not the type of insurance that will pay your payment if you loose a job or become disabled. You may want to contact your insurance agent to see if they can recommend or if they...
Becky Said:Is there any way in arizona to not have mortgage insurance other than putting 20% down payment?We Answered:You have 3 choices:
Find an owner with a free and clear house who will accept payments. You don't get a mortgage at all. The seller holds your "mortgage" in a carryback. No MI.
Ask the seller to carry the difference between your down payment and the 80% mortgage. The law is that the seller must carry for at least 5 years. Most sellers are willing to help but they want to be paid off in 2-3 months. They must wait 5 years.
You find...
Everett Said:check out this mortgage good faith estimate of settlement charges?We Answered:What amount are your borrowing?
The Underwriting fee and Processing fee is the lenders charge. $1590.
Appraisal fee is a bit high.....should be $350-$450
Notary fee shouldn't be more that $50-$100
Recording fee is charged by the county and is based on the sales price or the loan amount on a refi.
Title insurance seems about right
Your Hazard Insurance seems very high...shop around for various quotes from insurance carriers unless you have either flood or earthquake insurance included.
You shouldn't have to have mortgage insurance if you are getting a conventional loan. FHA loans...
Ella Said:Tax refund estimator shows our refund will be higher if we do married filing separately. Is this okay?We Answered:If he itemizes then you are required to itemize also EVEN IF YOU HAVE NO ITEMIZED DEDUCTIONS. This means you do not even get the standard deduction. Put that scenario in and see how it plays out....
Tina Said:Mortgage insurance preminum on there twice?We Answered:If you are refering to the $5000 down payment as being payment for the insurance you could look at it that way. But fact is you paid $5000 down on the $127,100, which leaves the 122,100 you still owe. Either way you are paying it off. They did not add it twice. You are just calling what you paid the insurance premium. If they are in fact showing it was paid, then showing it again then you need to call the insurance company and argue with them about it having been paid already....
Kathryn Said:Other than Mortgage Insurance, are there fees that wouldn't be added to a home loan (P&I) if you put 20% down?We Answered:You don't have to pay your taxes monthly, you can elect to pay them only twice a year. It may help some people with cash flow.Nellie Said:I give my parents cash for them to pay all their bills & their home mortgage. Can I claim them as dependents?We Answered:you should be able to declare them as dependents, but they need to know this so that they don't declare themselves as non-dependents and take the standard deductions....
Charles Said:Is FHA prepaid mortgage insurance deductible?We Answered:Up front premiums are NOT tax deductable....
Sean Said:I need advice: My husband left me with his mortgage/bills/tenants, to move to Florida with his mother?We Answered:Diane, what really concerns me is that your TENANTS have to tell you that he'll be back after he settles his mother in. That to me sounds like a very odd dynamic to have in a marriage. That alone tells me its time for you to get ready to get out of this marriage.
There are divorce lawyers in the phone book who will give you free consultations. I would call one in an enormous hurry. You...
Jeremy Said:Accidental Death Insurance?We Answered:Those are typical Accidental Death rates, but keep in mind it only pays if death by ACCIDENT. If you need life insurance buy a regular policy. ...
Vivian Said:What if the person who had Power of Attorney over my dad cleared his account on the day of his passing?We Answered:I agree! She is going to have to live with the consequences of her actions!!! Now the house is in arrears, and it's possible if SHE doesn't catch up on those payments, you will ALL lose the house! Good going SIS! You screwed everyone! Now the State will take over your father's estate, and divy out whatever money is left over after all your Dad's Bills are paid, taxes and the Government! They may...
Robin Said:Should I take a job I hate?We Answered:I would take the job if offered and keep studying for your transition career. It is too tough out there to find any job and you don't have years of savngs to fall back on especially with a mortgage! Good luck!Tara Said:Ap Government Help, Please?We Answered:This is too many questions.Derrick Said:Are child labor laws unconstitutional?We Answered:Outsourcing and closing factories, perhaps you should look at what the government's imposed to send those jobs overseas.
Unemployment; A worker pays into it, they're entitled to it. Extension after extension is unsustainable....
Neil Said:Does mortgage insurance kick in when a mortgage goes into foreclosure?We Answered:Nope, your screwedJesus Said:Why are banks in so much trouble (due to foreclosures) when mortgage insurance should have covered the losses?We Answered:lets say you live in one of those areas where the housing prices were so far artificially inflated by too much government involvement in home buying that you bought a 3 bedroom home near LA for 500000. As the bubble popped your house is now worth what it should have been worth around 200000 - 250000. having some insurance for 20% of the bill (100000)...
Javier Said:Do you agree that we’re all up the creek?We Answered:I think those are just a few examples of things happening that are about to "hit the fan." I am worried about unemployment, even though my fiance nor I have ever been on it. It is winter, and many people will be hurting with the jobless rate so high. I am also worried about all the Republican governors we now have after the midterms, including my state. They will be slashing the budgets, social programs for the poor first of course. Haley Barbour said on Cspan he will be ending...
Jay Said:How much is mortgage insurance per month money wise?We Answered:unluckily, there is no general number. PMI is based on the amount of the mortgage covered and the larger the mortgage, the higher the percentage. It is also based on your credit score - the higher the score, the lower the rate. It can range from 1/4% for a high down payment, high FICO score to 1.3% for a low down payment, low FICO score.Lydia Said:about how much is mortgage insurance in CA? And...?We Answered:Private Mortgage Insurance is based on the borrowed amount, and yes, if you...
Fred Said:Real Estate Investment – Property Insurance: Contact Insurance Broker? What to tell current Insurance Company?We Answered:Don't know about the first question. I would just call the general office line, tell them what you need to do, and ask them who they think you should talk with.
Regarding the second question, there are lots of insurance brokers down here, anyway. There is one in San Diego called B.H. Gold that specializes in finding lower priced insurance for people who have existing policies and changing them over to the new company. The company provides a commission to the broker for finding the...
Chris Said:In the auto industry can you make great money if you are a auto insurance agent?We Answered:If you make the move to insurance, you can make a great deal of money if you are willing to work hard. You will want to make sure that any producer agreement you enter into spells out exactly what your responsibilities are and what split of commission you will receive, both on new sales and renewals. I made exponentially more money on renewals than on new sales. That is because I treated my clients with respect and they stayed with...
Neil Said:Regarding the debate about centralizing medical information within a single repository?We Answered:As an emergency physician, I'm more than a little biased. I'd just point out that privacy issues have legal recourses. Death, not so much.Elizabeth Said:Find the following for a $200,000 fixed-rate mortgage and the given information.?We Answered:do your own homework!Catherine Said:Mortgage Bailout Information?We Answered:You can check with FEMA.
http://www.fema.gov/
How to and application FAQ link:
http://www.fema.gov/assistance/index.sht…
They have various assistance programs for disaster victims.
I'm surprised about the insurance. Did you not have sufficient (hurricane) insurance to cover the cost of the mortgage?
Also, in most if not all states one is not able...
Kyle Said:ethics in medicine cystic fibrosis?We Answered:If Darren declared his condition, he would most likely be unofficially discriminated against for a job or mortgage or any type of loan. It would be illegal for a potential employer to not hire him based solely on the fact that he has CF. It would also be illegal to reject his loan request for a house, car, or any other type of purchase.
A health insurance agency may reject him, because some agencies will not cover people with pre-existing conditions like CF. While it is immoral, it is not illegal.
As his doctor or physiotherapist,...
Clifford Said:What is the best kind of mortgage insurance here in Canada?We Answered:Totally depends on what your future needs may be. We have our basic insurance on our mortgage through the bank itself. In case of accident or death it is quicker and more efficient to use the banks policy. If you are adding on huge details and extras, then maybe you should shop around a bit more for a different carrier. There are many out here. Just go visit your local insurance agent and they will give you better ideas.
Of course CMHC is the biggest carrier and is...
Julie Said:my husband saved 10000 to move our credit is under 600 can we try a condo or rent we are on a budget?We Answered:talk to a loan officer in your area, see about an FHA loan they dont have a minimum score req. so even if you are under 600 you can still get a rate between 6-7.5% $150,000 @ 6.5% your lookin at about $962 monthly and of course you are going to have to escrow your taxes and insurance depending on where you live that might add an extra $150-300 a month. good luck to you...and most...
Jacqueline Said:What type of home-owners insurance will pay off my mortgage if I die or lose my job?We Answered:Nothing will pay off your mortgage if you lose your job, but mortgage protection life insurance will cover it if you die. Mortgage protection life insurance is a type of term life insurance that covers you for a certain number of years, often the same number of years as are remaining your mortgage. The death benefit coincides with the mortgage amount, so that the policy will pay off the balance of the mortgage should you die before the loan is paid off....
Allison Said:Are there any good financial services lead generating website/company?We Answered:business-
http://hyparoffice.com/Norman Said:Does it bother you that the US government is taking over the two largest mortgage, loans, and ?We Answered:In a small way, yes, I am not sure I want the government making all of those decisions. But, if this is what it takes right now to get our economy back on track-I am all for it.
edit: I have to agree with several of these answers. I have sat and wondered forever how the hell so many of these people got away with loaning money to risky clients. The ARM...
Marcus Said:how to sell these leads and?We Answered:Try advertising them in business services on Gumtree...
Harvey Said:mortgage life insurance best companies?We Answered:do you mean mortgage insurance from a finance company or decreasing (or level) term for Trying to cover your mortgage or the biggest part of it. If uninsurable, go with the fiance company, but they may not offer it if you aren't healthy enough.
If term insurance try American General, Prudential, Met., Nationwide, etc. Most mortgage insurance from Banks, finance companies you only have one company offering coverage. On your own try adds on the internet. Find one and research the company. Sometimes a little higher premium willbe better than too low cost insurance....
Constance Said:Should I rent my House or Rent my Rooms?We Answered:rent the whole house to a family. I think if its a 5 bedroom home you could easily rent it for 3000 a month to cover all expenses. If u rent the rooms seperately there will be a LOT of traffic comign through your house of other tenants guests, etc. It will create a problem. I have never heard of anyone renting a room and having it work out to be a positive things. Whomever you decide to rent to do it the legit way. Interview them first to see...
Martha Said:Is it reasonable to live out of a car in New York City?We Answered:"You need to think about it, blah blah blah"... ;-)
Seriously, though, you wrote, "I want to live there badly..."
Well, you're right, if you live in your car in New York City, you WILL be living there "badly" so, your dream will come true!
Seriously, though, WHY in the world do you want to live in New York City SO badly that you're willing to live like some sort of freakin' HOBO to live here? I mean, if you really want to live like a TRAMP, there...
Diana Said:What can a widow do in the state of NJ to avoid losing her house?We Answered:If she is over 62 and has a low balance left on her mortgage, have her check into getting a reverse mortgage...make sure she goes through HUD or another good source. Look at the hud link below for more information.
Refinancing may be another good option, she should again find a reliable source (there are alot of evil companies out there ripping off people, so she needs to be very careful). It depends on what her interest rate is now and...
Marcia Said:Mortgage Insurance...?We Answered:What he is talking about is taking a second lien loan to cover the downpayment. You are on the hook for 2 loans, so make sure you can service them. I can't beleive they are still doing that, given all the mess that they have caused. Generally a lot of those types of loans have defaulted, and one would have thought that they would be limiting the use of them. There is no con if you can service the loans, while I think PMI is paid for completely at closing....
Angel Said:What is your experience of using financial services online?We Answered:Extremely good.
By sticking to well known / existing 'brands' and shredding all the paperwork they sent through the post, I've managed (so far) to avoid being taken for a ride ..
Main improvement would be when companies start to accept automatic liability for all on-line fraud (this will force them to start using things like 'one time Credit Cards' and RSA Key Fobs etc)...
Kurt Said:Looking for Cottage Insurance that covers it as a Seasonal a Rental Property?We Answered:You have two issues to solve here. First, you need insurance on a property that is vacant for up to nine months per year. Second, you don't live in the same country as the property.
An insurance company will not typically issue a Landlord Protection policy on a property that is going to be vacant for more than 30 days. The risk is too high on vacant properties as they are targets for vandalism.
The non-country issue is not as big a deal, but can...
Donna Said:What other types of insurance do you have besides homeowners, auto, health, and life?We Answered:You may want to look into an Umbrella policy. This will cover you if you should get sued for more than the coverage you have on your auto or home insurance. See your agent for details.
I recommend the you see a LOCAL agent and have him/her do a free Financial Need Analysis (FNA), or other Total Need program, to help YOU determine how much, and what type, or combination of, life insurance YOU need to reach YOUR own short and long-term goals and objectives. You...
Bobby Said:Can I have my insurance and taxes taken out from my fha mortgage payment ?We Answered:yes and then at the first or second month of the year they readjust the payments ... sometimes they take more to ensure all will be covered....
Daryl Said:Why do people choose to separate mortgage, prop tax, insurance payments?We Answered:The mortgage company benefits from your escrow account, meaning that you're allowing them to hold your money, thus they make a percentage off that money, cause it's in savings. Some people prefer to put the tax and insurance money into their own savings account, so they can make a little off of it, as opposed to the bank.
I'd rather have my own savings account for these things and benefit from the savings rate than have my mortgage company do it. It's not that difficult to pay...
Gloria Said:are fannie mae or freddie mac related to primary mortgage insurance (PMI)?We Answered:No...PMI is underwritten by insurance companies in the private sector of the economy....
Daryl Said:buying a home my question is should I have another insurance policy to go with the mortgage insurance?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service....
Curtis Said:will mortgage on a house use supplemental insurance policy to pay that off?We Answered:Well, I think you're very confused, by this question. What TYPE of supplemental? Disability? Disability only kicks in if the insured becomes DISABLED. And a mortgage company can't "invoke" someone else's policy.Brandon Said:Deed in my name Mortgage in Mom name-whose name on Home Owners Ins Policy?We Answered:I would imagine both you, as owner, and the bank, as mortgagee. The bank is entitled to be paid back their interest should there be a catastrophe affecting the property's condition, and you as owner...
Lewis Said:Why do liberals lie and say the Bush tax cuts were for the wealthy?We Answered:same kind of thinking as when obama said he would actually cut taxes for 95% of americans when 30% dont even pay taxes...
faulty math, and no educatin in economics.Rosemary Said:Unmarried, co home owners, how would itemizing work?We Answered:If you both paid the house payments equally you can split the deductions. If he paid all then he deducts all. This is probably better anyway since splitting puts you below the standard deduction. If his SS number is on the 1098 form this should...
Lewis Said:Is it worth it to refinance my present 5.875% mortgage to a new rate of 4.750%?We Answered:You will only save about $100. And it will cost you $7700. It will take you 77 months to break even. That is over 6 years. Plus you're adding two more years onto your mortgage. That is probably not worth it.
Keep shopping around for a better rate and much lower closing costs. If you can repay the costs within 3 years, then it is probably a good idea....
Jack Said:I recently switched my homeowners insurance - the yearly premium is $300 less than my old insurance...?We Answered:Yes, once a year the escrow account should be recalculated and adjusted. You'll have to call your lender, to see when that happens....
Carole Said:Can I deduct the points paid on tax refund?We Answered:Yes they are deductible on schedule A if you have enough to itemize.
Your total itemized deductions should be more than your standard deduction to benefit you. You can claim on schedule A such things a medical expenses in excess of 71/2 of you adjusted gross income,mortgage interest and points, property taxes, sales tax or state and local income tax., Charity,and unreimbursed employee business expenses in excess of 2% of your adjusted gross income.
I am sending you a few links that might be helpful.
Christine EA Master Tax Adviser
Check...
Jim Said:Does Mortgage Insurance Premium (MIP) last for the term of the contranct on a house?We Answered:There are 2 forms of mortgage insurance:
1) MI- this is on FHA loans. This is a requirement even if you are borrowing less than 80%. You have to pay this for a minimum of 5 years. If you borrow more than 80% you still have to pay it until you drop to the 80% level but it cannot be less than 5 yrs.
2) PMI- PMI you have to pay if you borrow over 80% of the homes value. This will automatically drop off...
Kent Said:What are the income limits for PMI deductions in TY2007?We Answered:Your income limit is $100K....
Mario Said:FHA STREAMLINE DECISION HELP?We Answered:I sure hope you didn't pay this "FHA specialist" anything extra...because any bank that does FHA loans can do an FHA streamline.
It's a scam if they tried to tell you that you could get a "better deal" with them.
It came out to $419K because of the closing costs and the re-setting of escrow...but your monthly payments should be lower.
You are also re-starting your mortgage....but 7 months ago is not significant.
The way you figure out if it's "worth it" is this:
1. Take the total closing costs associated with the NEW mortgage (do not include set...
Sandra Said:Please tell me if these are deductible?We Answered:Master card interest -- Only if business related.
Dental expenses -- Yes, to the extent that they exceed 7.5% of your AGI
California state income tax -- Yes
Charitable contribution -- Yes, if to a registered charity
Mortgage interest on home purchase (personal) -- Yes
Real estate taxes (personal) -- Yes
Life insurance premiums -- Only if business related, and even then there are limitations
Investment interest -- Yes, but only to the extent of investment income
Automobile registration fees -- No. However if an ad-valorem personal property tax is levied that is deductible. Some states lump this...
Cecil Said:Annual Mortgage Insurance Premiums?We Answered:those mortgage insurance coverages are from gov't insurance companies, not all mortgage insurance is deductible
I have had only one client who ever was entitled to itTerry Said:FillingTaxes...what does the Mortgage insurance premiums refer to? The amount of insurance that I paid?We Answered:PMI - private mortgage insurance. If you have less than 20% equity in your house, in addition to the mortgage payment, you're paying the bank PMI. They should break it out on their tax statement they send you.Ricky Said:Can i deduct Mortgage insurance premiums paid at closing?We Answered:You can deduct your PMI....
Jessie Said:can a mortgage with PMI be modified under the new bill?We Answered:Call your bank. There are lots of options available....
Greg Said:What is Mortgage Protection Insurance?We Answered:Mortgage Protection Term Insurance is a form of life insurance that is intended to provide enough money to pay off the home in the event of the premature death of the insured -- in essence the coverage amount follows the loan amount, i.e. as the loan balance goes down the amount of coverage goes down. This is also known as a decreasing term life insurance product. Because of how the product has been set up it ends up being one of the most expensive life insurance products on the market when comparing...
Jonathan Said:Do I have to buy buildings and contents insurance from my mortgage provider?We Answered:Many years ago, some mortgage lenders used to insist that you bought their (often expensive) home insurance. Thankfully this was stamped out and now you are not tied to them for buildings insurance.
You do have to demonstrate that you have cover but any insurer is happy to issue a certificate to your mortgage lender, it is a fairly common request.
Historically there was a £35 charge made by the mortgage lender to process this 'administration' but I am pretty sure that is also no longer practiced...
Dustin Said:FHA Mortgage Homeowner's Insurance?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Roger Said:First time home buyer-question about insurance?We Answered:My guess is that they want to know where the insurance proceeds should be sent if the house was totally destroyed so the mortgage money could be covered. It would probably state the amount of the mortgage. Your house can be completely destroyed but you still are obligated to pay off the mortgage even if you don't have a house any more. Just a guess. So...
Cynthia Said:Can a mortgage broker's license enable people who aren't licensed for insurance to write ins quotes?We Answered:In some states yes, a supervised layman can duduce premiums, but not all. The person generating the quote needs to be an agent and most states require anyone dealing with the public to be licensed as an agent.Linda Said:Is is common for homeowners insurance much higher than mortgage?We Answered:Time to find a new homeowners insurance company.
Who insures your cars?
Call them, some companies work with partners for home insurance and you can get a discount by combining home and cars.
Google companies like Geico and...
Jeremy Said:Can a insurance company rise your rate by sending it to your mortgage provider without your written and expres?We Answered:If you have a mortgagee listed on your homeowners policy, the insurance is required to send a copy of the renewal policy to the mortgagee. Mailing a copy of the policy to the mortgagee, does NOT increase your rate.
If you originally set the policy up to "bill the mortgagee" because you have an escrow account, the mortgage company will also get the bill for it. This, also, does not increase your rate.
Your written and expressed permission, is...
Bernard Said:Help! I am stuck on the last section of my accounting homework?We Answered:Once you can get out the adjusted trial balance, the rest is actually quite easy. The illustration at the link should be useful to you.Shawn Said:Intermediate Accounting , adjusting entries?We Answered:Nice...Adrian Said:Should I refinance my ARM into a fixed loan even if it means a higher rate/payment?We Answered:Mortgage lenders have no clue as to what the future holds for them or borrowers. Borrowers have even less knowledge of what the future hold for them. But lenders expect you to know. That's why then write...
Nelson Said:What are the four elements of a mortgage payment?We Answered:If you're studying for Real Estate, this was taught week 1.
P I T I =
P rincipal
I nterest
T axes
I nsuranceCraig Said:Should I refinance my current mortgage?We Answered:No, it does not make sound financial sense to spend $5400 in closing costs to save $45 per month. It would take you ten years to break even.
Don't do it. Just see if you can negotiate a lower interest rate without refinancing....
Luis Said:What is the difference between an insurance underwriter & mortgage underwriter?We Answered:The tasks are completely different because the products are completely different, so the procedures must be different.
These days, there's more call for insurance underwriters, because the housing sales market has fallen. Additionally, since Obama is talking about making it illegal for banks to foreclose, the natural result of that, is that they'll flat out stop making mortgages, as no one will have ANY incentive to pay their mortgage!! And the housing market will further fall.
www.salary.com for average salaries.Dawn Said:Mortgage Insurance Question?We Answered:The previous answers about what...
Vivian Said:Is my tax refund going to be delayed?We Answered:if a refund is due and there you meet one of the things that would delay your taxes, you will get delayed no matter how long before feb 11 you filed...
Juanita Said:How can I find out if I am due a refund from Mortgage Insurance that is unclaimed on a home we owned?We Answered:Private Mortgage Insurance (PMI) is there to protect the lender in case you default on your loan. If you stop making payments, they will evict you and the lender will take back the property. In the process, it may be that the lender loses $2000 because they value of the property has decreased. If that is the case, the PMI company will cut a check to the lender for $2000 to make him "whole."
The purpose of...
Tonya Said:How do I get my bank to reduce my hurricane insurance requirements?We Answered:Why wouldn't you want replacement value? Can you realistically rebuild your home if a hurricane blew it down and you only got the mortgage value back? Or, are you saying you are willing to walk away and start over if you suffer such a huge loss?
Basically, if it is in the mortgage contract you signed, you don't have too many choices. The choices are: (1) buy insurance at the level they require from a provider that you select. (2) let them buy...
Herbert Said:what is a good sales career for a man in his late thirties?We Answered:I think automotive sales would be good for you, if you are knowledgeable about cars, trucks etc.
Real Estate would also be good, especially if the market picks up.
Bottom line is, that you should do what ever you feel most passionate and confident about. What will you enjoy doing and at the same time, be able to maintain a decent income.
Money matters.Luis Said:Mortgage Insurance Phone Scripts?We Answered:Contact a local marketing firm, and hire them to write one for you....
Emma Said:Mortgage consultant in Singapore?We Answered:I would assume the large banking institutions will be available to help you worldwide. If you use Bank of America, Citibank, Chase, etc, I'm sure they can point you in the right direction or work with their associates.
Educate yourself about mortgage at:
http://www.thetruthaboutmortgage.com...
Virginia Said:is it really so sinful not to have a mortgage?We Answered:Does it really matter what everyone else thinks? There is no law saying that you should have a mortgage by 27 and if your friends are judging you on your lifestyle then you have to ask yourself why...are they just jealous? At the end of the day, as long as you are happy with your situation then that is all that should matter. And just because 'everyone' does things one way doesn't mean that that is the right way for you. It is your life so only do what...
Julia Said:Is Upfront Mortgage Insurance paid at a mortgage refinancing deductible from income taxes?We Answered:I provided a link below... and I think the answer is there. Not sure the deduction works for a re-fi. But if it does, pretty sure you would have to amortize it for the duration of the mortgage.Barry Said:Is payment of a mortgage escrow shortage tax deductible?We Answered:Sorry my friend, but payments toward escrow accounts are NOT tax deductible. What IS tax deductible is your property tax. The IRS and your state don't care how much you paid for homeowner's insurance -- they're only...
Kyle Said:How much of a tax deduction would we get back on our home mortgage?We Answered:Do you itemize your taxes? If you do then you will get about $6500 in the first year back.
There is a confusion when it comes to this, you don't get $6500 back you get a credit of $6500, meaning you would not pay your taxes on that. So it would only 1000-1800. It really depends on the tax bracket you are in.Shannon Said:Tax deduction for landlords with income more than $150K?We Answered:no same with me
i get tax deductions still and i make 200K...
Deanna Said:Should a roommate pay part of mortgage insurance and property tax? Or just 1/2 of the actual mortgage?We Answered:You should pay fair market rent and let her worry about the rest.
It is none of your business how much the mortgage, tax , etc is. ...
Mary Said:If FHA Upfront Mortgage Insurance Tax Deductible?We Answered:yes but it is subject to income limitation. If you and spouse make less than $100,000 it is fully deductible. If you and spouse make more than $109,000 then none is deductible.Debbie Said:Any one know if you can claim mortgage insurance on your taxes? Not regular homeowners insurance, but the...?We Answered:Just curious, what is an SAHM?
Here is a link and article I found for you. I hope this helps a great deal:
Mortgage insurance gets tax break -- themorningcall.com
Deduction for people earning up to $109,000 extended by Congress.
By Arden Dale |...
Edgar Said:House Damage, Insurance Check & Mortgage Company Rules? Some stuff not included under mortgage.?We Answered:Any building that forms part of the realty is covered by the mortgage. So, if you now have an outbuilding that you did not have when you purchased the home...that is part of the mortgage.
If the mortgage company foreclosed on the home - the get the out building to. It goes to sale as part of the same property as the house.
Therefore, the mortgage company is on the funds for the outbuilding.
It is not uncommon for the mortgage company to give you part of...
Morris Said:Can you still get a mortgage in the uk after being diagnosed with adult adhd. can it effect your car insurance?We Answered:you should be able to. That would be discriminating if they didnt let youKent Said:UK only -Do building and contents insurance have to be included in your monthly mortgage repayments?We Answered:Nope. Paying it with the mortgage is possibly the most expensive way to do it.
You can get it separately and pay it annually, no problem.Max Said:can you still get a mortgage in the uk after being diagnosed with adult adhd. can it effect your car insurance?We Answered:everything...
Anita Said:How can all those unemployed people afford to buy health insurance?We Answered:Under Obamable care, they will have to pay an annual fine if they choose not to budget their money for health insurance vs buying a six pack. They will buy the insurance only when they get sick, then cancel after their sickness. It's like buying auto insurance only when you intend to drive.Douglas Said:Mortgage protection insurance?We Answered:Ok I see this mistake all teh time on teh internet so once and for all.
There are two things we are talking about here PMI which is compulsary on over 80% funding...
Martin Said:My husband and I are buying our first home. What insurance will we need?We Answered:get as much as you can afford defo life ins for mortgage.
get ready to be skint !Carrie Said:Can you purchase unemployment insurance?We Answered:No; what you should have done is purchased disability income protection, which would have replaced a substantial portion of your income when unable to work due to illness or injury. DI coverage is probably the most overlooked insurance coverage, yet is probably the most important. One is more than three times as likely to become disabled for an extended period than...
Steven Said:Is fishstix stupid or just blind to the fact that USA is a communist country now?We Answered:Wow, I feel so special that you need to post a question about my intelligence. You called me a liberal, but you may be surprised to find that I've been a lifelong registered Republican. I believe in the death penalty, the right to bear arms, have strong views regarding immigration, and am pro-life. Because I disagree with you does not make me a liberal nor stupid.
If we are now a communist country...
What job did the government assign you to do?
When...
Kristina Said:What are benefits of 'investment' life insurance vs. other tax reducing investment vehicles?We Answered:You are smart about being cautious toward your friend who is trying to sell you the idea of life insurance being an "investment." Life insurance is not an investment. Its insurance that provides your family income in case you die. There's two types of life insurance. One builds cash value (otherwise known as whole life, universal life, variable universal life, etc) and the other type doesn't (which is term insurance). All financial experts agrees that term insurance is the best way to protect your family against...
Geraldine Said:I'm after low cost ideas for those on low income during the heat wave here in Australia to save electricity?We Answered:Seems to me you have been taking the right steps..
You have it pretty well covered...
I don't live there I live in the USA and if only more people acted such as you do they wouldn't have the problems they do with the Bill
I know here in the South it's Hot as hell too
I cut down as much as possible but I have to give it to you for the lengths you are going to save!!
They should give you a...
Toni Said:Can i file the mortgage interest on my tax return even if the mortgage is not in my name?We Answered:The loan is not your obligation, so you are not allowed to deduct the interest on the loan even if you paid it.Brandon Said:Can you deduct home mortgage interest, home insurance and real estate taxes on home you never occupied?We Answered:Yes, he has committed tax fraud. Federal crime. It does not matter that no one else can claim it either. He is basically a landlord, this is not his residence.
You can not claim this...
Ben Said:Do I have the right to retrieve my possessions?We Answered:Since you have no legal interest or rights to the home, you would need a lawyer to straighten this out. Did your mother in law have a will? Did she leave the home to her son? Did your son have a will? Did the estate ever go into probate?Arlene Said:How many people hate living in Northeast Ohio as much as me?We Answered:Sweetie trust me I hate it more than you do. I love what you wrote. You made some great points. I have lived in many...
Hector Said:is there any regulation of mortgage lenders that charge MASSIVE amounts of money for thier insurance binders?We Answered:You have pretty much answered your own question. It is "tough luck" as Suntrust put it. When your signed mortgage docs you agreed to this seemingly unfair agreement. So in a nutshell, yes this is regulated. The regulation is of the mortgage agreement as a whole, the insurance being a part of it. I believe the conventional wisdom is that mortgage institutions don't want any part of the insurance business, so they do this as a deterrent....
Yvonne Said:Can I afford a new more expensive house?We Answered:Run your finances with the financial analyzer on this site and you pretty much should have the answer. It's one of a kind because it digests your finances all at once, and it's free.
http://www.ameri-financial.com/financial…
It doesn't ask for personal identification information (no address, no phone number, no social, just a nickname) and you have to register. You can run scenarios and then compare. I like it a lot and there is no analog.
Hope this will help.
Good luck!
Moni....
Kristen Said:What actually is Mortgage Reducing Term Assurance(MRTA)?We Answered:I not aware of how the product with that full name works and suggest you speak with an insurance agent you trust, but I've not heard of anyone being required to buy it for a loan.
Often if you put down less than 20% will have to buy mortgage insurance which would pay the BANK a portion of the value of your loan if you default, but this sounds more like an insurance you would take for your heirs.Rhonda Said:What %age in the UK population do NOT have any financial products...
Benjamin Said:my husband and I have a joint life policy to cover our joint mortgage, if one of us dies can the kids claim?We Answered:Surely the payout from your policy is already signed over to your building society or bank which means that whoever survives will be sitting mortgage free.
Your kids may have some rights over the deceased's estate but they have no control of the insurance policy.
All the same, you should consider making a will one of your priorities.Beth Said:do i need life cover for a repayment mortgage?We Answered:If you want to get a policy paying off the...
Gladys Said:My disability income is less than my mortgage, and I can't pay my bills. Help!?We Answered:I also think that the best way would be for you to try to sell your art online, preferably at e-bay. It is easy for you to create an account there, so it might be orth a shot, since you can sell your art to other people in countries that aren't hit so bad by the economy.
I am sorry since I can't help you much as I don't really understand the funds and how they work over there. But I would just like to...
Jennie Said:How is it that welfare is so little for prices that are so high?We Answered:I'm actually working for a living, not depending on others to provide it for me.Monica Said:I am the next of kin, there is no will. What to do?We Answered:Texas Probate Courts apply intestate statutes when the decedent left no Will. Thus, if a person dies without a Will in Texas, their property will be distributed under Texas intestate law. This typically means that heirs will have to go through the Texas Probate Courts to determine who the proper heirs are and to settle...
Vera Said:I'm looking for an honest, good life insurance company. Anyone with experiences on this?We Answered:Make a list of loans/expenses that need to be paid in the event of your death, add them up and that's the amount of life insurance you need to have. Go for Term of insurance of this amount and the duration of Term should be long enough to cover your mortgage amortization period and also to cover the period till your kids are financially dependant on you.
All life insurance companies are good. You should prefer the one which offers you the lowest premium....
Daryl Said:hardship help?We Answered:It is inconceivable that there could be a foreclosure solely because of a delay in issuing a death certificate. Furthermore, you could have gone to the Department of Health (or other authority that issues the certificate) and walked the documents from place to place (i.e., if your state requires the burial (or cremation) information on the certificate, you could have collected the paperwork from the funeral director and submitted it yourself. Once the attending physician and/or medical examiner has(have) signed off, the rest is administrative detail.
(Indeed, a few years ago a funeral director wrote the wrong city...
Matthew Said:Why isnt Fox News covering this?We Answered:HMmm.
Several bank faliures in the heavily leftist Illinois
1 bank faliure in heavily right Texas.
interesting...
Brian Said:How much does a will cost in the state of Virginia.?We Answered:There are some online forms that you can get and do it yourself for free. If you contact a lawyer to do it, it will cost from $200 upwards depending on the lawyer and depending on how complicated you make the will....
Zachary Said:If I went to volunteer overseas and got killed does that invalidate my life insurance policy I have to cover?We Answered:That would probly be covered. Most of the time it is. But read your policy or ask your insurance company or agent.
I would take out a regular level premium 30 year term policy. Mortgage life is a decreasing death benefit. So, make sure you know what you have and see if you need to change what you have now.Jose Said:Can the bank ask to be put as a benificiary on...
Lonnie Said:homeowners. have you any advice for me?We Answered:As long as your existing life cover if enough to pay the outstanding mortgage should anything happen to you then yes, you can use that. You don't HAVE to have life assurance at all, its just advisable to if you have dependents. Your critical illness cover is a good idea and you may want to look at redundancy insurance as well, but again its your choice. Only other thing you need to be aware of is that you'll need buildings insurance on the house your buying, but this can be done really...
Stanley Said:What's a newspaper editor's salary in Florida?We Answered:No one can give you a detailed response because her salary negotiations will be between her and her potential employer. $30,000 per year as a single income in Miami isn't anywhere near middle-to-upper-middle-class lifestyle. Sorry, but it's not even close. 20 percent of the nation's households make between $34,000 and $51,000, only 15 percent of Miami's households are in that income bracket. Miami-Dade County's median household income is $35,966, far below the national median income of $41,994. The city of Miami's median household income is even lower at $23,483. Go to this...
Gertrude Said:what do you think of refinancing your mortgage to get equity and put that equity in a life insurance policy?We Answered:one of the worst ideas ever. If a sales agent is proposing this to you, you should report him to the Better Business Bureau. This is NOT in your best interest at all and not at all an ethical recommendation from an agent....
Albert Said:what kind of claim can i file?We Answered:Most mortgage protection policies only cover the mortgagee, but hey, it's worth a shot. You should be receiving lost wages from your workers comp claim. If you have DISABILITY coverage, that's a seperate policy, you can surely file for that, as well.
Homeowners won't cover your injury. Life insurance covers death. You're typing, so you're not dead. Workers comp, sounds like you're already claiming that. Disability, well, that was kinda vague.Erik Said:Is it illegal to hold a Real Estate license and Life and Health or Property...
Claudia Said:What is the meaning behind this quote in the film trainspotting?We Answered:it means that now a' days peeps are really selfish and they want the biggest and the best but you should really just be thankful for the little things and be happy for a simple life...
Lois Said:Benefits of Survivors?We Answered:Let's cut to the chase:
If I were killed in Iraq, these are the following basic benefits:
1. my beneficiary gets $400,000 tax free cash fairly quickly
2. my beneficiary gets I believe either $12K or $15K cash upfront almost immediately for the funeral related expenses that are different from the $400K
3. my wife gets Dependency Indemnity Compensation ("DIC") of approximately $1150 tax free cash every month
4. kids and spouse get free tax free tuition at a state college and various medical benefits and so forth
To be brutally frank, the above benefits will inject that family into serious middle...
Jim Said:How much life insurance should we get?We Answered:You need to cover all your liabilities, final expenses, mortgage payment fund, emegency fund, and provide an income to keep the suviving spouse in his/her own world financially.
Life insurance proceeds are not taxed as ordinary income. They would only be taxed if the estate at death was $3,000,000 for 2009. Anything over that amount would be taxed at 45%. The Federal Death Tax is eliminated for 2010, but it will be reinstated in 2011, with the taxable estate being over $1,000,000. Any amount over that would be taxed at 55%. (This is...
Tom Said:need advice ASAP on critical illness inurance with mortgage?We Answered:Yes, she'll make a commission off of it.
It's dumb to buy critical insurance or life insurance for the bank. That means, YOU make the payments, and THEY get the money.
If you want disability or life insurance, buy real disability or life insurance - usually for less money - that pays YOU or your spouse. That way, you can spend that money any way you want.
Buy insurance to benefit YOU. Not the bank....
Kimberly Said:Gastric Band..........?We Answered:u will only get it free on the nhs if your wieght is causing bigger problems and at risk x good luck xLorraine Said:Would asking get me anywhere?We Answered:This operation kind of forces you to be a bulimic, then if you don't fix your eating habits that cause you to gain the weight in the first place will stretch out your belly eventually and you'll gain the weight again, sigh. I've never believed in a low calorie diet, I always managed my weight with exercise and then I became disabled & couldn't exercise and gained weight....
Donna Said:what insurance do i need?We Answered:I can't answer for the UK, but in the US your mortgage company only requires that you have Homeowners insurance to protect their investment. You don't have to have life insurance, although it is a good idea, and you certainly don't have to have critical illness insurance. Why don't you just call the mortgage company and ask them what is required? Then you will know for sure....
Freddie Said:What would be the best option of the mortgage or life insurance in case of serious illness? ?We Answered:Everybody is pretty much right. Mortgage Life Insurance is usually a rip-off. It's usually either more expensive or just as expensive as a 30 year term, but you're paying the same premium for 30 years and getting less coverage every year. Plus, if you ever refinance or take out an equity loan or LOC it becomes a giant hassle. If all you're looking for is coverage on the mortgage, in most cases you're best off going with...
Robin Said:which cover is better? level term life or mortgage protection life?We Answered:Term Life (or term critical illness or disibility insurance) is better than Mortgage insurance (whether it's life, CI or DI). Without question. If you googles search it there will be litterally hundreds if not thousands of sites that compare them and not a single one will pick Mortgage Life over Term Life. The bank websites don't even try to justify their product in a direct comparison...they just stick to the positives of why insurance in general is good, not even noting the benefits of their product...
Tracy Said:How to use a mortgage calculator?We Answered:Don't use a mortgage calculator and don't listen to people on YA, go see a lender and get qualified by a professional that knows what they are doing.
Edit:
Using 3 times your income to determine your eligibility is ridiculous. It does not work. A person that makes $12,000 / year cannot qualify for a $36,000 house and a person that makes $250,000/ year can qualify for more than a $750,000 house. Someone who makes $1000 a month and has 50% of their in some used on a mortgage has $500 left and that's unlivable....
Jamie Said:SERIOUS QUESTION: does anyone here loan out money, or know someone who does?We Answered:http://www.ioucentral.ca/ is Canada's peer-to-peer lending company.
I lend on prosper and to family, but I wouldn't lend that much money to someone I don't know well -- especially without a formal setup (like prosper).Elaine Said:Toronto, Canada. Living Expenses.?We Answered:Some of it will depend on your lifestyle for sure, as I am sure you have already considered. Cost of housing is going up in the Toronto area, but you should be able to keep cost of housing under $1000 a month especially if you intend to buy...
Samantha Said:In a mortgage loan, how do you get rid of an MIP?We Answered:If it is an FHA loan and you are paying MIP, you have to pay the loan down to 78%. It is only .50% of the loan amount a year if it is an FHA loan. Pretty cheap considering it allowed you to get 100% financing that is assumable....
Christian Said:Will I make money as a mortgage loan officer/insurance agent?We Answered:are you good in sales?? some people are natural hustlers, those are the ones that succeed. me, i am not, so i know that wouldnt work out for me.
eventhough it is not a straight "sales" position, that is exactly what that is! you need to get people to buy your insurance or take out loans with you, that takes a pushy person for that...Kathleen Said:what's a good estimate for mortgage insurance on a 160K loan?We Answered:It doesn't make sense to buy a foreclosed home for $160K, fix it,...
Robin Said:Can my friend get a mortgage loan?We Answered:Hi tina,
She can. Her interest rate would not be the prettiest.
~TreyJacob Said:Mortgage Loan to an LLC?We Answered:There is no such thing as a non-recourse investment loan.
ALL of the banks loan to a LLC, it is common practice. Your problem is the amount, you need to borrow more.
I just borrowed some hard money (I can't get any more mortgages) and even with that I had to take 100k. It was short term, 6 months.Calvin Said:Can you still get mortgage financing if you have overdraft protection and use it? I...
Jeffrey Said:Life advice from Experienced programmers sought?We Answered:My answer is: None of the above. You need to repair your self-image before you do anything else.
We can't do anything to change the past or the future. We can only change the moment we're in. Change is scary, especially when we're in a deep dark cave of self-pity. But tomorrow is a brand new day. A good day for change.
Redirect your focus to something beyond yourself. Help yourself by helping others. Volunteer at a homeless shelter or a food bank. Place yourself in a position among people who are worse off...
Rodney Said:is it worth getting mortgage protection payment when you get full pay when you are sick?We Answered:I have never bought these products and never would. Often the cover they give you is limited to the first few months anyway.
If you get full pay when sick then you do not need that element at all, although you might think that you want some cover in case you are made redundant.
I am not an insurance expert but if you are worried about what might happen if you become too ill to work long term you might want to think about general...
Amy Said:6 basic math questions, best answer 10 points !? BEST ANSWERS?We Answered:1. The premium is $1.26
2. Repayment amount $604,798.89 Total cost of interest: $364,798.89
3. Millions - 8, Thousands - 2, Hundreds - 7
4. 7,700
5. 3,447- 2,278 =1,169
6. $64 * $79 = $5,056Jeremy Said:Buying a condo..can someone please helpWe Answered:You’ll have to call insurance agents for quotes. That will really depend on geography & amenities. You’ll want to find out your annual property taxes (from the county) because that will also be factored into your payment.
Is your agent an agent in the market where you’re looking?...
Alex Said:Should we have still been paying this insurance?We Answered:I hate to be the bearer of bad news, but your best bet is probably trying to plead ignorance in court. You will probably have to name the building society as the defendant.
Either way, I wouldn't hope too much to see the money back, the fact is that the insurance was in effect and if you would have needed to claim against it then you would have succeeded.
This is something akin to eating at a restaurant and leaving before you get the check.
Raiddinn...
Vernon Said:I am looking for a website I lost that calculates your mortgage payment, taxes, and insurance all in one for?We Answered:www.restructureyourmortgage.comTanya Said:Should land taxes and home insurance be combined in a mortgage payment? What is more economical?We Answered:this depends on the degree of security you have to have as well as your trust for yourself. if you really need to know that those taxes and home insurance premiums have been paid in fulll and on time, keep them with your mortgage.
on the other hand, i, for one, know i can trust myself to set aside a monthly escrow...
Rick Said:is anything better than bi-weekly mortgage payment plan without any fees?We Answered:Better?
You can send in all the money you can afford each month and note on the stub that the additional payment should be put toward principal.
But to me the word "better" would include a program that is automatic and requires no continuing thought on my behalf. Those types of programs usually involve money to sit them up.
Have you looked at a 15 year or a 10 year mortgage?
I just don't know what you mean by better.Bryan Said:How many times will a mortgage company work out payment plans...
Everett Said:Mortgage payment protection / maternity allowance?We Answered:No there correct but whilst your on maternity allowance you can claim housing benefit/council tax benefit against the payments of your morgage. I doubt it will be all but i will be the majority. Have a word with either your local council housing department or CAB, they'll be able to tell you how much you could claim....
Lynn Said:What is a 75/25 mortgage and how does it work? Would I be making 2 mortgage payments a month?We Answered:It's two loans. It's a first loan for 75% LTV, with a subordinate second of 25% LTV. In many cases, it's cheaper to do that than pay MI. But if LPMI is available, it's usually cheaper to do that. It usually depends on your Fannie findings, and really more things than I can go into and keep your interest. Anyway, if the same lender funds both loans, they'll probably only send you one bill, but...
Helen Said:I have some money in the bank that I could use to payoff my mortgage, however I am not sure if that is good.?We Answered:Fully fund your retirement plans. You can still contribute to an IRA for 2007 right now, and also for 2008. If you've already filed your 2007 taxes, file an amendment. You can also contribute to ROTH IRAs.
You can make extra payments of principal, without paying off your loan in full, and that will reduce the amount of interest you pay over the life of the loan, as well as shortening the lifespan...
Andrew Said:Is there an equivalent of Private Mortgage Insurance (PMI) for business loans?We Answered:no PMI on commercial loans many commercial lenders want 20-305 down there are exceptions on course but as a rule no pmi
bussiness loans are case by case you can get a commercial lender to lend a portion and a SBA loan for the rest! on commercial loans with less than 30% down this is what is normally done!
there are many options for commercial borrowers
here is my pick for commercial money!Cody Said:Will mortgage insurance (PMI) protect U from a deficiency judgment in a foreclosure?We Answered:No, it...
Eric Said:accident cover ppi.?We Answered:try http://www.portwood.co.uk/asuone.htm the correct policy will depend on the type of cover you want. but the rate of accident only will be pretty cheap.Jose Said:Help. I have absolutly no money, what can I do?We Answered:Go out and find a job, even if it's flipping burgers someplace. Show your creditors that you are at least trying to stay busy with gainful employment, then work out a payment plan with them that meets your new (lower) budget. You'll find that creditors will take lower payments rather than going to the expense of losses in the event that you...
Virgil Said:Mortgage Insurance Premium?We Answered:If it is connected through your bank, PMI (private mortgage insurance), it only protects the bank that the payments will be received. If you are behind they will throw you out. Now if you took out a life insurance policy separate from being attached to the loan which can be called mortgage insurance, it can step in on your behalf and make payments or pay off the loan depending on how it is set up. I would talk to the person who sold you the coverage or loan and have them explain what...
Annette Said:I have a huge hole in my ceiling, who is supposed to pay to fix it? Maintanence or Mortgage insurance?We Answered:You need to stay on them. Call, write letters and document them. If that doesn't work call an attorney. Hopefully there is no limitation on time or you could be out of luck.Max Said:What does mortgage insurance do for me?We Answered:PMI protects the LENDER. Not you. If your home gets foreclosed on, they will STILL seek the balance of the loan from you.
PMI pays up to 20%, based on your equity...
Melinda Said:What do you think, would illegal aliens take limited Medi-Cal funds from children and elderly?We Answered:I am sick and tired of the undocumented illegal aliens/ Mexicans/Hispanics/Latino's coming over to the USA
and using our Hospitals to have babies and get medical care and then never paying for it. This sucks and needs to stop!
We need to focus on our own people and help them not some people from another country.. The laws need to change.
We who are American Citizens are and should be #1.
Most US citizens without MediCal or health insurrance cannot even walk into an ER and...
Doris Said:If a company breeches the data protection act, who do I report them to?We Answered:They are not breaching the Data Protection Act. You have your mortgage with them, therefore they are legally entitled to keep data about you.
It's annoying, I know, but not a lot you can do about it. Try writing again to their head of marketing.
Serious suggestion: if they have a Freepost address, send them a letter informing them that you have already asked them to stop sending you marketing material, but include a house-brick, or old telephone directory.
Keep doing it until they stop.Hazel Said:I want to...
Jonathan Said:Mortgage Protection Policy For Unemployment?We Answered:They have freedom of speech in the UK? I'm not being flip, I just didn't think there were "rights", just like the people there are "subjects" and not "citizens".
IF there's such a coverage in the UK, I'm not aware of it. There isn't any in the US. There IS "unemployment" insurance (but only through the government program), which pays you if you lose your job, and you can use the money for ANY bills, but most of the time mortgage protection only protects the LENDER. And...
Amber Said:mortgage insurance question?We Answered:you need emergency funds not insurance. There are some rip off company's that write this but it is very costly and is short term before it expiration date. get 6 months living expenses in total for an emergency fund and if you ever dip in replace it first...
Jaime Said:I've got a major dillemma and need advice! I insured myself for employment loss- I need advice- please read.?We Answered:You would seem to have two completely separate events to tackle here;
1. The Bank problem
2. The Employer problem.
The employment issue can be dealt with quite simply on a no win no fee basis. ACAS can only offer you facts so is probably not a great deal of help. CAB can appoint someone to act for you at minimal to nil cost. Until you resolve this you remain with two major concerns.
Regarding the Bank (or the broker if independent) you may...
Connie Said:claiming on insurance when off sick from work then get finished through ill health?We Answered:You need to call the insurance company, but typically you would be covered until you are cleared to return to work. Then if you are cleared and have no job you would be considered unemployed and the payment protection would stop....
Sara Said:My resume shows that I last worked till Feb. 2009. How detrimental is this for my chances of getting hired?We Answered:A few specific suggestions:
1. Remove all months from your employment dates on your resume. At first glance, they will not know when in 2009 you stopped work. And first glance is all you need to at least get a call.
2. If you haven't already done so, I suggest you remove your graduation dates from your degrees, and drop some of your older positions. 15 - 20 years is more than enough.
3. Try to do some meaningful,...
Don Said:Does anyone know about "Default Protection Programs" ?We Answered:It's technically not insurance, but "ensurance". It is not regulated as strictly as the actual insurance industry....
Daryl Said:Health Insurance!?! Who is the reform really helping?We Answered:Congress and the Senate have no choice now but to pass this bill. Sad to say with all the kick backs they cannot afford not to. Yes we are going to suffer but who is to blame? Well Government is for sure but also we have to take our share of the blame for not insisting on term limits for congress and the senate. Power corrupts, that is a huge part of the problem. These goons up in Washington have long forgotten about the job they were sent there to do....
Brenda Said:hey everyone I have a question please answer?We Answered:vote for smell this for best answer lolGlenda Said:How much does the firefighters can refused the service when fee are not paid?We Answered:The fee is for service. No fee, no service. It's quite clear. In the case you are describing, the fire dept responded in order to protect the neighboring homes that had paid their fee.
I own an insurance agency and we are notified by the local fire dept anytime one of our customers hasn't paid their fee. We are notified that no protection will be granted unless the homeowner...
Nathan Said:Will I be better off unemployed than on maternity leave? And can I get away with it?We Answered:I am from the US so it may be a bit different, but I thought I would share. A woman in my neighborhood got laid off from her job at 32 weeks. She was able to collect benefits because of this up until the baby was born. After the baby was born she as considered "ineligible" to work due to the mandatory 6-8 weeks most physician's place on those who have just delivered a baby and in order to get the benefits...
Annette Said:Is mortgage protection insurance a good idea or is it a scam?We Answered:If you are talking about private mortgage insurance, no and besides it is required by the lender if you have less than 20% equity.
If you are talking about separate insurance to cover your mortgage payment if you were to lose your job, get hurt, etc than it is a toss up. I can't say I know of anyone that has actually bought it and I am a Realtor. In theory it sounds reasonable but I am not sure if it is worth it...
Cody Said:Career Vs Stability.. what option should I take?We Answered:You two are about to open Pandora's Box. Loan, mortgage? That is already a huge threat to your security. Since we have all those energy and environmental crises coming up, trying to cope with long-term mortgage and large debts in general as well as advance your career in an economy which ain't about to get more stable is iffy.
Feeling ambitious? You can probably satisfy your urges for greater achievement without replacing your job. Art is a typical outlet for this. Hobbies with profit or performance orientations are even more common.
On the...
Judith Said:Does a co-signer for a mortgage have to pay if the borrow dies or becomes disabled?We Answered:The bottom line is that if the mortgage doesn't get paid one way or another, the bank will take the house. If you died or got hurt and couldn't work and couldn't afford it, your parents would have to sell the house and use the money to pay the loan off.
If you get mortgage payment protection, you're basically buying a separate life insurance policy that covers you for the amount of your mortgage. This is a very bad idea. The price of...
Julia Said:I had a claim for a mortgage protection plan turned down by Countrywide Assured...?We Answered:Not 100% sure but isnt there a 7 year period in which you have to make financial claims???? Banks can chase say unpaid overdraft for 7 years likewise businesses can send invoice out up to 7 years. 7 rings a bell anyway. If you are in UK and I think if you use CA then you will be try this # 0845 345 4345. It is fully registed legal practise but offer help FREE. You may have mitigating circumstances and because it's...
Jack Said:Can I transfer a mortgage protection policy I have paid for 15 years into a life or any other type of policy?We Answered:I don't believe you can transfer the premium. Sometimes insurance co will let you convert term policy to whole life policy. However, if it's allowed, it will say so on the policy itself. You are better off canceling the mortgage protection and shop around for regular life insurance policy. I used reliaquote.com before and found it very reliable.Marilyn Said:Are mortgage protection policy premiums refunded if you don't claim?We Answered:This sounds like the real estate version of...
Dianne Said:If an ins-policy is sold with the title 'TOTAL MORTGAGE PROTECTION' - is it classed as being False description?We Answered:Seems to be 2 issues here .. loss of job and Mortgage payments ..
Your Mortgage cover will pay the Mortgage (some pay the Interest ONLY - check the policy wording) whilst you have no income .. it may well have been 'miss-sold' to you (check MoneySavingExpert site)
As for your job issues ... I suggest Citizens Advise Bureau and Employment Tribunal .....
Rebecca Said:Can I find out if I am an authorised tenant or not?We Answered:I shouldn't imagine you are entitled to know unless there is a specific reason that it affects you in some way. Maybe if there was a court case and this is relevant to you you could get a court order to disclose a document showing whether or not you are.Joshua Said:business leads?We Answered:After you collect the lead information, send out a mailer to see who's interested, THEN contact ppl that respond. By this time, you've already gotten only those that are interested.
I'm a court researcher,...
Paul Said:Did you know that Bill and Hillary's mortgage on their NY house is being paid by you and me?We Answered:No, of course I won't vote for her. Her idea of running our country and mine, don't coincide.
Yes, I read about this some time ago. You've got to hand it to her, she's certainly industrious with OUR tax dollars.Jesse Said:Wells Fargo sent me a letter?We Answered:Alert.
I get junk mail from Wells Fargo Also.
But.. this mail is NOT from wells fargo.
WF sells their mailing lists - or someone is stealing them.
I reported one of these letters to...
Jamie Said:How to apply for Data Protection Licence UK?We Answered:Registration is the first step, you can find a starting point by going to the ICO.gov.uk, but then you must decide what you are going to do with the data you collect, in your business.
carey@privacyandrights.co.ukMae Said:Is there a consumer protection law in the UK, to right to cancel the mortgage, without occuring charges?We Answered:The estate agent is incorrect. They should be providing any and all documentation which would be relevant to the buyer and the leasehold agreement would be one of those documents.
Speak to a solicitor and get them to...
Leon Said:Made redundant what to do next?We Answered:When you go self employed the rules change. Basically you would be taking a gamble that it will work and you need a personal loan from the bank and a business start up loan and possibly a grant.
You need to make yourself an appointment with Business Link or In Biz and speak to a business start up adviser.Franklin Said:if your employer told you you lost your job tomorrow, would you loose your house or have you got back up plan?We Answered:I'm already living plan B. I lost my job as a financial/loan manager...
Jeremy Said:How to manage my debts and survive this year? Is suicide the only way out?We Answered:Suicide is never the way out, while there is life there always is hope.
One day the sun will shine bright again, it would be a great shame not to be there to see it.Roy Said:redundancy insurance advise?We Answered:Assuming you're in the USA, because you posted on the USA board, "redundancy" is called Unemployment, and is ONLY available through teh government program.
You can't buy private unemployment insurance in the USA....
Joann Said:Medical repayment arrangement = mortgage/promissory note, what are the risks?We Answered:Boy...these are brutal terms...In ten years I've never heard of terms like these before. I know that hospitals can be aggressive debt collectors but this takes the cake. This is Exhibit A on why this nation so desperately needs health care reform.
You might want to think about letting them take you to court...and take your infant son with you and explain to the judge what occurred so you can work out a manageable repayment plan with the court as opposed to signing a document that may put your house...
Violet Said:can i claim off my mortgage repayment protection plan?We Answered:Ask them for the Insurance terms, they will send them to you, then go straight to Is not covered section, then go to you are covered by, then you will have a pretty good idea what is covered. You must do this now, as otherwise you can miss out on any claim. They do not pay retrospectively. So make sure you get your claim in asap...
Harold Said:Harassing Phone Calls From Mortgage Company?We Answered:Third party collectors have laws restricting calls, but the lender being the originator of the debt has much more lean way in their communications with youGloria Said:Oh dear got pregnant and can't afford time off work?We Answered:I think that 6 weeks is plenty to take for maternity leave. A lot of people in America only take around there..some even get less. And as long as your mother is ok with it, then I don't see a problem with leaving the baby there while you work. If it wasn't your mother,...
Stacey Said:What are the initial and ongoing expenses of buying a house?We Answered:Initial:
Solicitors fees = Varies, ring around
Stamp duty = depends, if the house is below the set amount, then nothing (not sure what it is).
Survey/Valuation fee - depends on the mortgage provider.
Mortgage fee - some products charge a fee, from what I see it's usually between £500-£1000, but again it varies.
Im single and these are currently my monthly bills = average (remember this is mine and can be different to yours):
Mortgage: £255 (currently)
Water - £30.35 (not on a meter)
Council Tax - £70 (I get 25% discount living alone)
Gas -...
Keith Said:Does anyone know if the VA Funding Fee (mortgage insurance) is tax deductible?We Answered:If this fee is listed on a separate line of your 1098 Mortgage interest statement then yes it should be.
Most likely, however, it is not.Timothy Said:Is private mortgage insurance tax deductible now?We Answered:As of my tax return at the beginning of this year it was not. I live in illinois. It may be different state to state.Larry Said:Help w/ mortgage insurance tax deduction...?We Answered:Refer to IRS Publication 936....
Pauline Said:What do I need to to before I even look at purchasing a house?We Answered:i know that buying your first home can be very intimidating, but remember it isn't as complicated as it seems, and there are alot of industry people and resources to help you out. home buying for dummies was the book that i used and it was super helpful. i bought my house a couple years ago in the middle of the housing bubble and it is harder to get financing now. the good news is that the prices have come down very...
Glenn Said:Find the monthly mortgage payment, including taxes and insurance with the following conditions?We Answered:Sounds like a homework assignment. There are lots of calculators on the 'net that will do this for you - it's really NOT an insurance question.Irene Said:Is it better to pay your home taxes & insurance yourself or let the mortgage pay it?We Answered:You should have paid a full year in advance on the homeowner's insurance at closing to keep that out of the bloody escrow. And arranged to pay your property taxes. It would save you escrow fees and interest for starters....
Heather Said:we just purchased a 200K piece of property. My husband is 67 yrs. old & we need either mortgage insurance or tWe Answered:Most agents should know how to structure a plan that looks like term insurance for your needs (ie. lowest possible level guaranteed premium, no accessible cash value, coverage terminates at a specified period of time). Unfortunately, there is a large knowledge gap in our industry because it is so complex. What state are you in? Email me and I'd be happy to help.Leah Said:How will health care insurance public option resemble Fannie Mae mortgage...
Bryan Said:Do I need life insurance? Whole or term?We Answered:Term life pays a flat amount to you if you should die before the term is up. Whole life also pays that flat amount upon death, but also includes a "savings" component, so the policy gains some value as time goes on.
Term is the better choice for most people because whole life is very expensive. Go look at the premiums -- the same coverage for whole life costs something like 8 - 10 times what term life does. Basically, with whole life, you are buying term insurance plus...
Dave Said:Can you write off all the interest you pay on your mortgage when you do your taxes?We Answered:Both are somewhat correct, just saying the same thing in a different way but probably meaning the same thing. The second person has the more complete answer.
Mortgage interest is an itemized deduction, and if you have enough deductions to itemize, then the total of your itemized deductions is subtracted from your income before your taxes are figured. But since otherwise you'd get a standard deduction, and don't get that if you itemize, the only savings to you is the amount...
Sidney Said:Is the only thing keeping our country from falling apart right now government bailouts?We Answered:Our country IS falling apart......
That 's why they (government) bailing everyone out.......
Government caused this problem (bad regulations, wrong deregulation, est.......)
So now they think they can fix it.....
It's like putting wolf in charge of the hen house.....
Undecided-Independent...
Alma Said:accident, sickness and unemployment insurance? UK?We Answered:Sounds like you are in the UK.
What you are after is a Personal Accident & or Sickness Policy and or a Permanent Health Insurance. These can be sold by independent financial advisers or general insurance brokers.
xxVPRhonda Said:Do I need homeowners insurance during foreclosure?We Answered:Look at it this way - what if the house burns to the ground. Then whose going to pay? You will be fully responsible. However, I'm surprised that the mortgage company isn't paying. I used to work in a foreclosure department, and we were...
Wendy Said:How does one find out if there is Mortgage Life Insurance on a house?We Answered:The mortgage company that holds the mortgage on the house may or may not be able to help - my guess is most likely not. Mortgage life insurance is a form of decreasing term life insurance, tied to the amount of the mortgage. The policy could have been written by any company that writes life insurance.
I would suggest that you start with the individual who was handling the divorce for the husband (attorney??), or check with the individual who is named as the...
Franklin Said:how to do a Mortgage Protection Insurance ?We Answered:Mortgage protection coverage for an individual is typically not cost effective, as it is has a death benefit that continually decreases in proportion to your mortgage and usually doesn't cost much less than level term. It is usually better to include your mortgage amount in your regular life insurance planning.
Exceptions:
1) If you are married or have a joint mortgage, many mortgage protection plans will offer a joint first-to-die option that can be more cost effective, particularly if there is otherwise a modest or no life insurance need.
2)...
Sandra Said:taxes and Insurance impounded???We Answered:He is correct, but that's a guideline from the bank he is brokering your loan through. Not all banks offer a lower rate for impounds, if you are worried about him being shady and BS'ing you find out what the origination fees are and if he is getting a rebate on your interest rate. I brokered loans for 4 years, just FYI.
You should do the following when shopping for a loan.
1. Never take the first offer
2. Get a good faith estimate from 2 or more brokers or direct banks
3. Read up on bankrate.com because you...
Debra Said:Is Mortgage Insurance real or a scam?We Answered:Private mortgage insurance (PMI) is "real". PMI is often "required" by the lender in cases where the downpayment from the borrower is less than 20%. At 20% or above, it cannot be required.
The "purpose" for the PMI is to "guarantee" pay-off of the mortgage in case the borrower defaults.
Also, once your home value increases to the point where the loan to value ratio is at 78% or less, you can petition your lender to remove the mortgage insurance requirement. I did this when my home increased in value....
Penny Said:Can I buy a house with no money down & no PMI but can still get a loan?We Answered:Any time you finance more than 80% of your purchase price in one loan, you'll pay something extra for it. Whether it's PMI, or a higher rate that the lender uses to insure the loan themselves, you're paying for it one way or another.
The alternative is to get an 80/20, where you finance 80% on your first mortgage and 20% on your second. You avoid MI, but you have a higher-rate 2nd mortgage instead. With good credit scores,...
Christopher Said:PMI and Mortgage insurance?We Answered:Lord, you don't know how it works hon.
PMI just makes the interest payments, it doesn't pay the house off...that is why the BANK still has to sell the house.
PMI will not pay for the shortfall in a shortsale or a foreclosure...so that is where the bank loses.
There is no such thing as "federal" PMI...they are all private companies.Gladys Said:Are you required to have PMI on a mortgage that is 70% of the property value?We Answered:you are correct unless it's a purchase, then everything is figured on the sales price.Arnold Said:PMI Mortgage insurance Default, no longer...
Francisco Said:Can you take the life insurance license exam online? What is FLASH?We Answered:FLASH stands for Fast Licensing Aplication Service. You can apply for your license online, pay the fees and schedule your licensing exam but you cannot take the exam on line.
See the link below....
Clayton Said:Getting a Mortgage today as first time home buyer?We Answered:The first thing you and your girlfriend should do is complete an agreement as to the division of the property, payment are to be made by whom, who stays in the property in the event of a possible break up and other things that might solve unforeseen legal problems.
It is best to do this while everyone is still speaking to each other civil. It is too late to agree to anything when the yelling start.
You both may qualify for the mortgage loan and both go on the title deed. Make...
Marc Said:Ways to pay house's mortgage from 2,000-3,000?We Answered:The bank doesn't care where the payment comes from. If you can afford the mortgage payment, then go to the bank and make it. If not, and your name is not on the loan then it may be time for you to consider more affordable housing.
If you are legally separated then there should be some arrangement that spells out his financial responsibilities, including what happens to the house.Amber Said:Cost of living in Canada, Ontario.?We Answered:When coming to a new country there are many things to consider. Many independent immigrants come...
Darlene Said:Is there an upfront payment for PMI(Private Mortgage Insurance) due at closing?We Answered:my goodness, some of these answers are off. The guidelines for determining PMI were changed effective 7/14/08 to a risk based model. Now for a 30 year, you pay upfront, which can be anywhere from 1.25-2.25, depending on what your doing. You will also pay a monthy charge, anywhere from .25-.75, again depending on program and risk. The upfront is usually factored into your loan amount and can raise what you need to bring to closing. What you need to toy with...
Patsy Said:payment protection insurance advice please?We Answered:You'd need to hire a solicitor . . . and most likely, you're right, the £20 bit is a scam.Dawn Said:are there any company's who offer life insurance,critical illness and payment protection in one mth paymentWe Answered:Friends Provident does , However you should phone a independent Financial adviser who will get you the best value for money in the UK Market local phone book will do itMichele Said:Mis-sold Payment Protection Insurance policy???We Answered:Look on the FSA website http://www.fsa.gov.uk
Then search for the company in the FSA register and look for disciplimary action.
The most recent...
Douglas Said:Auto Insurance BS?We Answered:No not all insurance companies STINK like progressive.... and I answered your other question and I will answer this question with my same response!!!
Well that's just silly! BUT that's progressive for you!!
Call another company for an auto quote!!!! The last thing you want is to have your insurance lapse because they won't allow payment plan arrangements.
Maybe you could even find better insurance for less premium!
There are other companies who are more accommodating with payment plans and special claim handling service (rated better in expert claim handling and customer service) than progressive. Progressive is pretty...
Albert Said:Does anyone know of the best and cheapest companies to get back payment protection insurance?We Answered:Call your local agent. They will find out for you.Derrick Said:Why is payment protection Insurance not worth the paper its written on?We Answered:If a credit card company is selling it to you, that should be a red flag that it's a rifoff.
Contact the credit card company and try to get them to honor the agreement.
I'm not sure if there is anything that you can do about this.
Good luck.Roland Said:can i get payment protection insurance having survived recent redundancies at work?We Answered:I think most policies...
Wendy Said:Is it better to buy term life insurance or permanent life insurance?We Answered:Term insurance because it cost less and you decide where you want to save your money. I wouldn't let any insurance company decide what to do with my money. I only need insurance to manage my risk against financial loss.Patricia Said:Term Life Insurance vs. Permanent Life Insurance?We Answered:Whole life insurance is a form of life insurance which has a guaranteed level death benefit until death or age 100, which ever comes first. It also builds a guaranteed cash value which will equal the face amount of the...
Mary Said:What company offers PMI insurance on a rental house?We Answered:It's not a private coverage you can buy.
With the recent sub prime mortgage crisis, that extra 10% is going to keep you out of a standard mortgage - and most sub-prime lenders won't touch you, either....
Henry Said:how much will pmi insurance cost in alabama on a 128400 dollar house with 100% financing?We Answered:Probably somewhere around 50$ a month.
Dont go with PMI.. see if the bank offers a piggyback loan. You end up paying higher interest on the 20% the banks want down, but it normally ends up saving you money. Also, you can pay off the 20% piggyback loan first. Unlike PMI which will be with youthe entire time you have the mortgage.Lawrence Said:Can I lower my PMI (private mortgage insurance) after a flawless 5yr payment history?We Answered:All that really matters is your loan...
Sandra Said:PMI insurance pre-paid?We Answered:When you buy a house, and have an escrow account, you pay all the first year fees UP FRONT - PMI, insurance, taxes. BUT, a part of each monthly payment goes into the escrow account, and after the first year, your mortgage company pays PMI, insurance, taxes.
So yes. You paid it up front. They pay it now. PMI isn't a "once and done" thing. You pay it EVERY YEAR, just like with property taxes, just like with homeowners insurance. So you didn't pay "in full", you only paid...
Hazel Said:How to follow Rural Development Mortage Rates?We Answered:The first problem is with Bankrate, they advertise a national average rate that does not take in to account all of the various rate adjustments for things like score, loan to value and location. In addition USDA is not as well known or used as conventional or FHA.
I have 5.5% for a 30 day lock as of Friday.Eduardo Said:I need some clairfication on PMI Personal Mortgage Insurance.100% financing $249.?We Answered:If you put down less than 20% you will need PMI utill you have 20% equity by paying the loan down or by...
Shirley Said:Will PMI coverage factor in on whether the mortgage company can file a deficiency judgment against me?We Answered:As long as you are making payments on the mortgage and are not in default, the mortgage company will not seek a judgment against you. Even if the value of your house declines below the amount you owe, your contract with the mortgage company remains in good standing if your payments are current. Home prices have fallen recently and many homes are worth less than their mortgages. It is when the debtor goes into default that the trouble starts.
Home prices...
Kim Said:foreclosure questions Please help!!!?We Answered:I don't think you want to have the forclosure on your record. You won't be able to buy the house and get a good interest rate on the loan. Remember, people will be bidding against you and you'll be paying the full market value of the house.
The best way is to find another bank and refinance the house. Ask for a continuance on the forclosure. It'll be costly but it's still better than a forclosure....
Shannon Said:What right does my insurance company have to Include my Mortgage Company on my claim check?We Answered:Your mortgage company has a lien on your home. To protect the lien it expects the property to be repaired after a fire loss.
By including the mortgage company the insurance company is trying to guarantee that its money is properly used.
PMI is a guarantee you don't walk away from the house and mortgage and really has little to do with maintaining the value of the property....
Gordon Said:How do I find an investor who will buy my mortgage. V-High FICO, Low Debt/income, will pay 6% NO PMI!.?We Answered:You will not be able to find an investor. But you may be eligible for the 2nd round of mortgage modifications that are expected later this year..Arnold Said:My current interest rate on my mortgage is 6%. If rates drop to 5% should I refin? I've been here 4 years now.?We Answered:need to know the loan amt to figure out the savings. However, take 1% of the loan amount divided by 12 and this is the avg savings a...
Terry Said:how much will be a PMI Mortgage Insurance for a 200000 house?We Answered:The rate varies with your credit score, the term and type of loan you have and the mortgage insurance company. If you have a credit score of at least 720 and a 30 year fixed rate term, the monthly PMI through MGIC will be $106.08 to purchase a home with a $190K loan. The monthly PMI payment stops once your balance is paid down to 78% of the original purchase price after about nine years of regular payments or sooner if you pay more. ...
Sylvia Said:Question about PMI (Private Mortgage Insurance)?We Answered:Generally its required on all loans that are less than 20%, although some banks will allow you to go without with a smaller % down. That being said, for all new loans, PMI is now tax deductible. So it really is not nearly as painful to pay as it used to be. Going with an 80-20 loan is far less advantageous than it used to be as well....
Billie Said:What happens if you sell your house below payoff?We Answered:With all due respect to the other responders, you CAN pay off a house with less money than you actually owe. It's known as a 'short sale' and you can negotiate one with your bank or mortgage company. They would rather take a short sale than let you go into foreclosure, because foreclosures have the potential to be disastrously expensive for a bank. Ask your bank what steps you need to take in order to work this one out, and make it obvious that you are doing...
Joyce Said:I have a Premium Mortgage insurance,(P.M.I)when i bought my Townhouse about 2years ago,?We Answered:I think you mean Private Mortgage Insurance (PMI). This was not forced upon you because your credit scores were low. It was forced upon you because you borrowed more than 80% of the value of the property. Translated to mean your LTV was over 80%. In order to get rid of the PMI you would need to get an appraisal showing your house has increased in value enough to have an 80% or less LTV. I would also check with my mortgage company before I spent...
Kay Said:How can I negotiate a better price on my home owners Insurance?We Answered:Companies usually have grace periods so being behind in premium does not always mean that your policy has lapsed so you should verify that with the agent. Then have the agent check the policy to make sure that all discounts are being applied (multi policy discount, safe driver, claim free, in force, etc). If not, then the agent can request that they be added to your policy by underwriting.
If your agent is captive, meaning that he/she represents one company, I would suggest taking a copy...
Jon Said:Can I refinance my mortgage for half the price?We Answered:Absolutely.
You can make extra payments of principal on your existing loan, which greatly reduces the amount of interest you pay over the life of the loan.
There are costs to a refi, and some lenders don't do such small loans, or the rates are not as good. So check out your options before doing this. It might be better to keep the existing loan, make a nice principal payment, and put some money in investments to feed into your monthly payments.
Start with talking to your current lender. Ask...
Everett Said:Will it be financially advantageous to rent out my home and move to an apartment? What do I need to do?We Answered:Think about being a LANDLORD-you have to overseer the property OBOY are you up to this-people can be destructive-will your home depreciate if you get a bad tenant and you need to know the renting laws and contracts-your insurance probably goes up, you will still have taxes, repairs,mortgage's and plus a new although small rent. You will pay taxes on rental income earned. Not sure about your loan. Would the new tenants mow their own lawn, and remove...
Dave Said:Is there anything I need to know before renting out my "primary residence" home?We Answered:Personally, I would have a reputable Real-Estate company that specifically deals with leasing homes rent out your house for you. It is not wise to do this on your own if you are confused about the legalities of this type of situation.
Things to consider:
If you have a VA loan, it requires that the mortgagor (the one that is the veteran) lives in the household.
There is no guarantee that your home will not become "waste" after the lease expires. ...
Anthony Said:Is the fastest way to pay off a mortgage is to not pay any principal?We Answered:What your friend suggest is a valid option. He also is biased because he would make more money in commissions by making you do a refi, buy life insurance and set up a Roth IRA.
However, if your goal is to pay off your mortgage as fast as possible without changing your lifestyle, this is the best way to do it:
http://www.mortgage-accelerator.com/?jra…
However, you will need to have a positive cash flow every month to make this work. As a mortgage broker, this is the program...
Nathaniel Said:what is position of icici in private life insurance?We Answered:they are in the 1st placeDean Said:which is the number 1 private life insurance company in india?We Answered:ICICI Prudential Life Insurance Company is the largest private life insurance company in India. It has an overall market share of 11% and of 32 % among private operators.Erik Said:i want market share of private life insurance companies in india in 2007?We Answered:Vinoth,
By understand the market share of each companies, you cannot do anything or valuate the product that company offering.
Remember, huge sales or subscribed customer number of any insurance product...
Clayton Said:Can I Sell My Private Mortgage Notes?We Answered:In this country millions of homes are sold every year. In most cases buyers go to a bank or finance company to seek mortgage financing.
In some cases, 200,000 in the U.S., home buyers rely on the seller rather than a financial institution to provide financing because:
? The purchaser may not qualify for a traditional mortgage.
? The purchaser may be a relative looking to save on closing fees.
? The seller may be interested in having a long-term income stream.
Often the seller is pressured into providing financing for the purchaser instead of receiving a...
Lydia Said:How do you calculate private mortgage insurance for a home loan?We Answered:About $50.
But ask lender. it depends upon what % you do put down. Someone who puts down 15% pays smaller premium than a borrower who only puts down 5%.
If FHA then .0055/12 of loan is monthly premium...
Grace Said:Private Mortgage Insurance?We Answered:PMI does not cover the full exposure of the lender. They are covering the top slice (usually 20% plus some fees. In order for the Lender not to void their claim for the PMI coverage, several things must happen. The lender must manage the default to its completion, usually foreclosure or a workout or short sale. Any agreement short of foreclosure must be approved by the PMI company....
Wayne Said:How can a mortgage company go bankrupt?We Answered:Not everyone has PMI...Mortgage companies don't want to own or manage properties...they want the cash. Foreclosure means they own a property and incur all the expenses associated with maintaining it. Mortgage companies don't want this overhead and often have to sell the property to recover something/anything they can. In the end it's often not enough to cover their loan so they end up bkrpt. PEACE!...
Phyllis Said:[Help} Decision analysis Case study ?We Answered:This problem is a multi-faceted one that requires a few different calculations having to do with the future value of annuities. if your working problems like this you have the tools necessary to figure them out. with that being said, I have a peice of advice for you. Don't in any way associate this person with yourself, real life never acts like the calculations in your college textbooks. Don't make this your financial plan - remember personal finance is 90% bahavior. 5% plan and 5% luck. good luck...
Teresa Said:Did anyone use the Bank of America no fee motgage yet?We Answered:There are definitely costs involved in all mortgages regardless of how it is marketed to the consumer. Appraisals, credit reports, title insurance, etc. all come with fees.
What BofA is probably doing is charging a higher rate in return for not collecting the fees upfront. They could also be playing with the verbiage. Some lenders, such as Ditech, claim little to no "fees", but then charge outrageous "origination points". Is an origination charge a closing fee? Depends on who you ask.
When talking to Bof...
Julio Said:What happens when the bank forecloses on your home?We Answered:A foreclosure means the bank is going to sell your home to get back the money you owe in non payment of your mortgage. I do hope you have been to the bank to discuss your situation to see if anything can be done to prevent this. Mortgage insurance is usually for the benefit of the lending institution. If they sell your home for less than is owed, the Mortgage insurance company will pay the balance. Normally it is the Mortgage Insurance Company that forces lending...
Sergio Said:Buying 1st Home and Private Mortgage Insurance (PMI)?We Answered:I've seen some other answerers on other questions like this say that some banks will let you avoid the PMI if your appraisal give that 20% cushion. However in all my experience the bank will simply take the lesser of the sales price and appraisal and say they need a 20% cushion beyond those prices (ie is sales price is 100K and appraisal is 120K, they will still say the loan must be 80K or less, 80% of lower number, to avoid the PMI).
So, I think you are going to...
Leona Said:What would an opponent of healthcare/insurance reform do if...?We Answered:the opponents of this new healthcare bill fail to care about other people's health.
"Everything is fine the way it is"
"I'm going to be taxed to death - I just know it"
wrong and wrong
learn to give a little.. what would Jesus do?Nancy Said:When should the Federal Government be Allowed to Forbid Certain Contracts?We Answered:I think one of your basic ideas is incomplete. You wrote:
"Insurance is a bet. The insured is betting that he will get sick. The company is betting that he won't. "
No. Everyone knows that almost everyone will get...
Paula Said:Will someone explain what this article means? (easy best answer)?We Answered:if government paid 100% of healthcare costs, people would go see doctor for every minor problem, or even just for fun. This means waste of taxpayer's money.
If people pay a bit every time they see a doctor, they will be way less likely to go waste doctor's time.John Said:application question on functional operations of private insurers?We Answered:An insurance company's underwritings are limited by its balance sheet (this is known as the solvency ratio). When that limit is reached, an insurer can do one of the following:
1. stop writing...
Sarah Said:What Does the Public Option Health Insurance Really Mean?We Answered:This is not a question. This is a rant. And an ill-conceived one, utterly devoid of compassion or accurate facts.
Recently I visited a doctor and, over the course of 15 minutes of smalltalk, racked up a $600 out of pocket expense. I had health insurance I was purchasing myself, at considerable expense, but that that wasn't structured to pay such "small" fees. I couldn't afford better insurance anymore than I could afford that medical bill. I'm likely better educated than you, have a permanent address,...
Carmen Said:To stay at home with baby or work and use daycare?We Answered:I think you should go back to work. You said that you and your husband are not great at sticking to a budget. With all the expenses you have to pay, it might be the best idea for you to have two incomes. I know staying at home is ideal for any new mom, but it might not be the best idea for you. And the quote you got from BC/BS is crazily expensive to pay without having two incomes. You could consider...
Patricia Said:We are getting a mortgage through Wells Fargo.?We Answered:You might have looked at APR which is always higher than the actual interest rate, ask them.Earl Said:I need help on this economics essay!!?We Answered:try investopedia.com. it's like wikipedia.com, but it focuses on explaining finance terms. you can look up all the terms there.Kristina Said:Does Private Mortgage Insurance change yearly?We Answered:Most conventional loans require you keep paying PMI on the loan balance until you pay off a huge part of the loan or until you prove (by paying for a new appraisal) that you have a very large equity....
Katherine Said:What is the advantage of a VA Loan?We Answered:I would also like to first thank you for your service to our country.
Next, I think it's important for you understand that a "VA Loan" is not a program whereby the (US) government lends you money; rather, it is simply a guarantee the (US) gov't makes to private lenders that they are protected against loss if the veteran fails to repay their loan obligation. Each lender will have their own requirements - within set gov't guidelines - for final approval of loans within their individual VA programs.
The first step in applying...
Glen Said:can an existing private mortgage insurance premium be increased during the mortgage term?We Answered:Yep, you can count on it too. It will not remain the same for 30 years.Maurice Said:How to have Private Mortgage Insurance removed from your mortgage payment?We Answered:Pay enough into your mortgage balance so that you've got 20% equity in your house.
That's it. That's the only way. You can pay for an appraisal, and see if your house went up enough in value, or you can pay the balance down. PMI is required on all standard mortgages, until you have...
Marcus Said:I have a question regarding private mortgage loans?We Answered:That normally means you are charging 10% per year. Mortgage rates are normally quoted as annual rates. It's all good until a bankruptcy judge writes down the debtor's debt and you eat the difference.Debra Said:Is it possible to find a private mortgage loan with poor credit?We Answered:In today's environment you'll likely have to put up more than 20%. If you can afford to put 30% down, you'll certainly have a shot. Alternatively, you may be able to have a family member cosign or form a partnership to share ownership.
Ricardo...
Joe Said:what is the interest rate for newly approved mortgage(private home)?We Answered:As on 1 Feb 2006....the mortgage rate is ..
30 yr fixed mtg 5.76%
15 yr fixed mtg 5.35%
5/1 ARM 5.29%
30 yr fixed jumbo mtg 6.00%
5/1 jumbo ARM 5.47%
You can also find as per your area.Annie Said:Does anyone need a private mortgage?We Answered:I don't think anyone will want to do business with a person who violates the guidelines of Answers by posting an ad here.Chris Said:What is the lowest legal rate a private party can finance a mortgage for?We Answered:uhhh,...
Jared Said:If I contribute 1/3 of downpayment to a property should I have mortgage insurance for in case of death?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Dora Said:How does a mortgage company buy insurance on property one day and file a claim the next dayon the property?We Answered:The mortgage company is listed as a lien holder on the property and would have been paying the premiums on the policy for the property since you were not. The insurance company would have had the mortgage company information...
Maurice Said:advice with mortgage payment protection insurance (sickness ,redundancy,and unemployment cover)?We Answered:think about wage protection that cover your actual wage.Agnes Said:Do you think this is a bad time to try and start selling insurance?We Answered:It is a bad time to make any money selling insurance. But it might be the perfect time to break into the business. For the first time in years, the companies have time to properly train you. So that you are ready to make some money when the economy improves. You will have to have enuf money to get thru the bad times.
The normal...
Jill Said:No Doc, Bad Credit, First time Home Buyer Purchase Mortgage?We Answered:Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they...
Renee Said:Can a person purchase a home, have a mortgage on a home, if they are on the title of another (not on mortgage)We Answered:What you have on title will not show. You are responsible only for your debts. If you are on title for another home in another state, its an asset not a debt. List it as such.
The answer is yes, you should be fine.Matthew Said:Can i rent out my house which still has mortgage and purchase another home?We Answered:A lot depends on your debt to income ratio (how much you have coming in versus...
Beatrice Said:how to tell if a home buyer purchased mortgage insurance?We Answered:Unless you are that buyer, you'd have no way of knowing, nor can I think of any legitimate reason why you'd have any right to know.
And if you are the buyer, look at your monthly statement or call your lender....
Brandy Said:Why can Gov. bailout "Big3" when folks on medicare have to choose between food and medicine on their budget?We Answered:Because people are told that the provision of healthcare to those groups is bad.
FACT - the USA spends more on healthcare PER PERSON than any other nation on the planet.
FACT - the US has higher death rates for kids aged under five than western European countries with universal health coverage.
That means that a dead American four year old would have had a better chance of life if they were born in Canada, France, Cuba, Germany, Japan...
Saying...
Marcus Said:How easy is it to get ceMap qualified (as a mortgage adviser)?We Answered:There are plenty of ways to become cemap qualified just google it but it will cost you for the course material and to sit the exams. Or if you wanted i know there are a few mortgage brokers that will pay for you to become cemap qualified, just go on some recruitment websites and search for "trainee mortgage advisor". Good luck.Joann Said:How do i set up my own mortgage advisory business?We Answered:All the info you need to know about regulatory, licensing and qualification matters can be found...
Clyde Said:Advice needed on redundancy insurance?We Answered: talk to an independentt financial adviserColleen Said:What would you do?I need help?We Answered:well firstly where do you live and what can you do ? as i am an employer i also have properties etc this could be your lucky day but it depends on what you are capable of
give me a shout with your detailsFelicia Said:Redundancy insurance (UK)?We Answered:try http://www.portwood.co.uk/asuone.htm - a couple of links there to provide online quotes for mortgage payment protection insurance where unemplyment/ redundancy cover is all you need.Robin Said:Mortgage cover for redundancy ?We Answered:I would think the best...
Diana Said:How do I refinance if I am upside down in my mortgage and I am paying PMI?We Answered:You can't. You can only refinance to 80% of the appraised value, and if you are upside down this isn't going to happen unless you bring the rest of the cash to the table.Joel Said:i have 20% equity in my home yet my fha refinance is charching me with mortgage insurance is this right ?We Answered:All FHA loans have mortgage insurance for the first five years no matter if you have 20% equity or not.
If you have 20% equity...
Eddie Said:Do you pay the Roof Contractor pror to installation?We Answered:no not until the job is done,Phillip Said:Home owner's insurance for condominium house?We Answered:1. As a general rule, in the states that allow it you should take an HO6 policy - for condo owners. It's pretty broad. If you live in an earthquake or flood zone, you'll have to balance out your risk vs. the master policy coverage vs. your loan agreement vs. how much you can afford to lose. In hurricane prone areas, frequently you have seperate wind coverage, NOT...
June Said:Should I go for a 5% down mortgage then?We Answered:If you buy this year, you can get a $8,000 first time home buyer's credit when you file your taxes. I would buy now while interest rates are down, then as you have extra $ you can make over payments as long as you do NOT have a pre-payment penalty.
It is possible as well to shorten the life of your loan, you can shave years off your mortgage by making one extra payment a year. Once you have paid enough principal only extra payments and have 20% equity,...
Shelly Said:Whats your best economic stimulus idea?We Answered:Kick out the log jams that hinder business and let er rip; like they did in Hong Kong.
It's the stinking democrats version of "regulation" that got us into this stinking mess, the whole mess. Of course we need to make sure things are fair, but then the government needs to stay out because it's those self interest driven pieces of crap which cause most of the problems, and caused all of our problems recently that really hurt us.
They should also take environmental "scientists" who block economic growth enhancing projects like clean hydro electric...
Charlene Said:Instead of giving $85B to bail-out AIG...what about this idea?We Answered:Very creative idea, but I do not think that our Congress, Senate and White House thinks as much about individuals as they think about the just a bundle of "economy."
I was thinking that to boost the economy and give people more security, they could give us a year or two of no personal federal income taxes. This would allow regular Americans feel more secure instead of bailing out the companies that we will have to probably bail out again in another 10-15 years after the next real estate...
Ray Said:What are the ideal requirements for getting a home loan?We Answered:All you need is a 10% down payment, PLUS 3 months of mortgage payments in the bank. Other than that, you are looking great!Wayne Said:What kind of requirements for a first time home loan?We Answered:Easy, Call Paul from Nation Mortgage (310) 795-3903
http://www.NationMortgage.com
http://www.RefinanceHomeLoan.comGreg Said:Requirements for VA home loan?We Answered:The only guidelines I've ever been given came from an appraiser a few years ago. At that time it didn't need to be 200 amp. It may have changed since then though.
Best bet would be to talk to a...
Elizabeth Said:How long do you have to wait after providing a split to a beneficiary to act on if they are contest it and act?We Answered:My condolences on the death of your father.
There are many, many variables here. You cannot get "good" legal advice over the Internet - the field of Law is too complicated for that. Also, remember: Each state's estate laws differ. Each county's estate laws differ.
It sounds like your brother's attorney is bluffing. But my strongest suggestion is to consult with an attorney. Just because your brother won't agree to your proposal...
Josephine Said:Who gets more help? A native worker or an Asylum Seeker?We Answered:The asylum seeker. You would also get more help if you were unemployed or just come out of jail. The last position you want to be in is a family who work and pay tax, no help for those people.Aaron Said:Best investment for kids?We Answered:Buy Disney stock.Robin Said:Pay extra on student loans or save for house?We Answered:I strongly recommend you keep paying extra on your student loans, but not quite as much. Homes are very cheap right now with very low interest rates. If you can currently...
Sherri Said:What do I need to do to become licensed to sell insurance in NJ?We Answered:In order to get your insurance license in NJ you have to go to licensing school. My school was 6 hrs a week for almost 5 months. I think there is also an intensive school that is essentially full time, you have to do all of the required hours in 2-3 weeks. You may want to take the life & health too. I did it because on the State exam it is only about 5 questions, at least that is...
Theodore Said:very rude man at halfax bank,what can we do?We Answered:Go to their web site and complain in the complaints section on their home page....
Darlene Said:Can I put life insurance on a senior aunt that lost mobility in her hands without her signature?We Answered:Yes, assuming she's insurable pursuant to the insurer's underwriting guidelines. However, in order to sign for her, you must have a court-appointed Power of Attorney.Erika Said:life insurance for seniors over 75yrs?We Answered:I found one on the first Google (life insurance for seniors over 75): "Globe Life and Accident Insurance Company offers people age 78 and under up to $30,000 of Simplified Issue Life Insurance with no medical exam."
http://www.term-life-online.com/over-70-…
I don't know anything about this company, and they won't offer you...
Craig Said:Finances Question???????????We Answered:No. That salary means you are in the 33% Federal tax bracket plus 10% Social Security and Medicare Then State taxes most average around 9% So you get to keep 125k of your salary.
You net 10,417 a month. Of that 5413 is your your mandated expenses. Leaving you 5K to live on. Mortgage 4k, utilities, car insurance, house insurance, property taxes, school taxes, food, clothing, transportation and so on.Jerry Said:am i able to get my interest back on my house?We Answered:Your interest is less than the standard deduction.Laura...
Wanda Said:Do I lease/rent out a house in another state not selling?We Answered:I completely agree with godged.
In addition to a Property Manager, I would use a rock solid lease agreement that covers you for everything and consider making friends with a real estate attorney. Be sure your lease includes things like yard upkeep, access to the premises for showing, how clean the house must be kept for showing, pets, smoking, late fees, move-out notice, tenants allowed, guests allowed (term), utilities included, and any other specific upkeep (like pool, fountain, etc).
For the tax implications, speak with a...
Rita Said:I am planning on buying a house very soon, as I don't want to pay rent anymore..?We Answered:It may not be time for you yet. Renting is much cheaper and you might make expensive mistakes like getting a mortgage from the first place you apply. Shopping for the loan is as important as shopping for the house.
Once you get a house your emergency fund will need to be much higher than as a renter since you may have many more emergencies. Read a book or watch a movie named the money pit.
A home will also require many things you...
Herman Said:Confused Term Life Insurance Qoutes?We Answered:lifeinsurance.awardspace.info - you can try this company. My parents have their life insurance.Leslie Said:Should I purchase an immediate annuity at my age 77, or perhaps long term care insurance? Income $2000 month?We Answered:An interesting situation. Will the son continue to live in the house after you die? If not, you should look at a reverse mortgage. If yes, he will, then annuity may take away his support.
If you're not concerned about the son, an immediate annuity should not be ruled out but should be considered only as part of a diversified portfolio. You...
Lauren Said:Term Life Insurance Quote?We Answered:Try this site
http://linsurance.notlong.com
here you can get quotes from different companies so you can compare them.Tracy Said:Free term life insurance quote?We Answered:You can go to the site I have listed below and you can get a "Term Life Insurance Quote from them" I recently received a quote from them to insure my family. Hope this helps
www.lifeinsurance.notlong.comIda Said:I got a quote for term life insurance for 20 years?We Answered:That is expensive for a $50,000 policy but cheap for a $50,000,000 policy.
You really need to talk to a financial professional about the amount and TYPE of insurance that...
Nora Said:Explain Universal vs Term life Insurance Quotes?We Answered:Your premiums on the Universal Life will more than likely stay level. Your parent's insurance on the other hand will increase, and eventually the policies will expire.
What are your parents going to do when their Term insurance gets too expensive, or because of age, terminates?
The UL is a combination of Term insurance and a cash accumulation account. The cost of the term insurance (mortality charges) and expenses come out of the cash accumulation. Universal Life is considered to be Permanent insurance, because it can cover the insured for life. Like whole life,...
Diana Said:Does anyone have term life insurance with primerica? Are rates with another company better?We Answered:I have Primerica's 35 year level term insurance. Even though I'm an agent, there are just way too many life insurance companies out there to compare who has the best rates. Primerica offers different level terms of 10, 20, 25, 30, and 35 year. But among Primerica's competitors such as Metlife, Prudential, AIG, Allstate, State Farm, etc., Primerica has the lowest rate.
Comparing rates alone should not be only factor when deciding which company to choose. You should also look at their ratings from AM Best....
Sam Said:What is the difference between term life insurance and cash value life insurance.?We Answered:Term Life Insurance is insurance that pays the 'sum insured' in the event of the death of the 'life insured' to a designated beneficiary, if the death occurs during the Term of the insurance contract. In other words, you are only insured during the life of the contract. Typically, these Terms can be found for 1 Year, 5 years, 10 years, 20 years. Alternatively, depending on the jurisdiction, you may find terms that last until a certain age (e.g. Term 80, 85, 100)....
Cindy Said:What are short-term life insurance needs?We Answered:Term life insurance doesn't build cash value, so there's nothing to withdraw or borrow from.
That's why is so much DRASTICALLY cheaper than whole life.
Whole life costs more, because you pay extra, into a mini-savings account type thing, and you can tap that cash value if you want to. So, there's no withdrawal with term. You can keep renewing it if you want to, but if you THINK you're going to need life insurance at 80, then you're best off switching it to a permanent type life insurance, even though...
Alfred Said:Homeowners insurance--who decides coverage amounts? Me or the insurance company?We Answered:You can easily check your quotes in internet, for example here - homeinsurance.awardspace.usPatricia Said:Does the estate go to the next of kin if there was no will (in Texas, USA)?We Answered:Without a legally executed will it goes to probate court and the judge decides. This by the way usually eats up about half of the estate value.Vivian Said:How do i deed one persons interest in a house over to another???We Answered:Unless you refinance in your name only to remove him from the financial obligation, he can only Quit Claim...
Sonia Said:If i dont have a mortgage....do i still need a title insurance?We Answered:You are not required to get it, but you should. Title insurance protects you from any errors that were made in the past regarding the title of the property. For example, if you are buying a home on land that was once a farm that has now been subdivided. A long-lost heir comes forward and says that they still have a legal claim to the land. With title insurance, the insurance company would pay to fight that claim. Without title insurance, you're...
Cody Said:Trapped in my husbands small business and don't know how to get out? HELP!?We Answered:Obviously I only have limited information but from what you tell us I would recommend the following:
1) Your husband may be unlucky or incompetent or both as a businessman but he is still your husband. You owe a duty of loyalty to him. Divorce because he is a poor provider is not what marriage is supposed to be about and who is to say you and the kids will be better off financially if you do seperate?
2) In your mind, forget the business. Do not...
Sylvia Said:Kindly explain the different types of life insurance?We Answered:There are more types of life insurance than room here to explain. The best advice is to ask your insurance broker.Rose Said:I am having trouble understanding the different types of Life Insurance.?We Answered:Wow! Talk about being more confused. There is some logic here but you have to sift through a lot of info to get at the bones. Well, here goes:
Term insurance is true insurance. If you pay your premiums and, unfortunately pass away in the term covered, your survivors will be paid the face...
Hazel Said:What type of insurance is there to cover the cost of a home in the event of the owners death?We Answered:homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.Ben Said:what type of insurance do I need? I am having my existing home demolished and having a new home built. ?We Answered:Home insurance covers lots of different things. I don't understand all the details of my home policy, but my homeowners insurance agent is always a phone call away. Try calling your agent or a agent in your town. http://www.easyhomeinsuranceguide.com...
Wayne Said:(UK) What kinds of insurance legally have to be taken out when I take out a mortgage?We Answered:1. Your mortgage company will most likely insist on building (structure) insurance so that they will be protected should something happen to your home, such as would be in the case if a fire or flood took place.
2. Content insurance is highly advised so as to protect your home's contents should something happen, but that will likely not be a requirement of the mortgage company since they have no interest in your home's contents unless of course they also want you...
Jordan Said:US BANK collections seized all my unemployment from bank account!?We Answered:First thing I'd do is close that bank account and open another at a different bank. Then make sure you never give them electronic access to the new account.
I'd send a letter to them certified mail demanding that they provide written proof that they had the authority to do that.
I'd also go down to the bank and speak with the bank manager about it. Can you dispute this with the bank?
If your bank account is not with USbank - maybe your local bank manager or loan officer...
Charlie Said:Should I expect a higher tax refund this year?We Answered:Go to the H&R Block tax calculator, enter your data, and get a good estimate of your taxes and refund:
http://www.hrblock.com/taxes/tax_calcula…...
Bradley Said:Is there such a thing as unemployment mortgage insurance?We Answered:YOu can get almost anything insured if you are willing to pay for it. Ask your mortgage lender.Amber Said:where can I get unemployment mortgage insurance?We Answered:Unemployment mortgage insurance isn't available in the US. It is available if you are in Europe.
In the US that is what unemployment insurance is for. It helps get you through the times between jobs.
You might also see a rider on mortgage protection insurance for involuntary unemployment. If so, it only pays the insurance premium, not your mortgage payment.Arlene Said:Unemployment...
Juan Said:With my 10% deposite I was offered 6.75% deal for 2 year fixed. Is it a good deal?We Answered:It doesn't sound fantastic. Are you using a mortgage broker who will shop around for the best deal for you?
While you should have contents insurance and you will need buildings cover for the mortgage the others are entirely optional. It's up to you whether you take them. Me personally, I don't think they are worth it but everyone's circumstances are different. The only thing I would say is don't take them with the mortgage provider - you would be paying well...
Harold Said:Advice on what to do when you're made redundant and can't pay your mortgage?We Answered:Firstly, check your mortgage paperwork and see if you have a mortgage that allows you to take payment holidays, many of them do. If so then call them asap and apply to start one. Some of them take a month before you can start your payment holiday, so do it asap.
If not then your first port of call should be the CAB (Citizens Advice Bureau). Go along to see them with details of all your outgoings and income, amounts, dates and reference numbers, etc,...
Dora Said:Am I getting a good deal on house and loan?We Answered:It's a decent deal if it goes through. I'm hearing about FHA mortgages that are being put on hold right now. I hope yours closes.Billy Said:Should i refinance my home?We Answered:With the info you provided, here is what I came up with.
Your current payments should total $1,413.98 + taxes and insurance.
Using the numbers you provided, your new loan amount should be $216 to $217,000.00 not $203,000.00.
$216,000.00 + the upfront mortgage insurance premium @ 5% =$1,179.83 + the monthly mi of $90.00 = $1,269.83 + taxes and insurance.
You...
Raymond Said:Refinancing a FHA loan to Conventional loan?We Answered:Depends on your loan agreement.. My FHA loan agreement has no penalties for early payoff as well as no restrictions to refi..
Not sure about your insurance being refunded, but I doubt it.
Correction: 1 year till I can refi on my loan agreement.Roland Said:Mortgage Insurance......Am I paying twice?We Answered:My guess is that the insurance that's listed on the bill from the bank is the PMI, not your homeowners insurance. (PMI is the bank's insurance that you would have to pay if you do not put a full 20% down). Now, since you...
Charles Said:Our home was flooded. Our insurance compny is State Farm. Our check is made out to us and the Mortgage Company?We Answered:No.
But they won't cost less. Between the deductible and the depreciation, you'll be asking State Farm for more money after the repairs are done. They pay depreciated cost until after the repairs are actually completed....
Laurie Said:Do registered domestic partners have to both apply for a mortgage loan? I heard it's not recognized Federally.We Answered:No you do not have to be on the loan, if he can afford it on his income alone(which if you aren't working right now, I am guessing he can), you are good to go with just him on there. You can be on the title, that is by choice, but you do not have to be on the loan. I know my answer is short and sweet, but that's all you really need to know, I hope. Have them take...
Diana Said:My dad is applying for a VA loan, He is older and if something were to happen to him, Va Loan says i can't?We Answered:I don't think that the lender of the VA loan your father is applying for care who pays off the mortgage loan if something happen to him.
He would not be here, if the family wanted to keep his house someone would have to pay it off.
You should check with your mortgage loan officer for a clarification of that statement.
If something does, you would have to go to probate court...
Dwight Said:Good questions to ask president Obama and are these good?We Answered:Some of them are confusing. Most of them are good questions. Ask him whether he prefers twilight over hp.Sarah Said:How can I get media coverage on yahoo news? Do you care enough to help us do it? Please read our plight!?We Answered:If you want media coverage you have to start locally - talk to all your local papers, radio stations, and television stations to get them to cover your story. Do a video if you can and post it on YouTube Once you get the ball rolling...
Maureen Said:How much do we need to make to afford this house?We Answered:It depends on how many other things you are financing. Student loans,credit card debt, or car payments would all factor in to your over all debt load per month. In the mortgage world it is your D.T.I ratio or debt to income ratio. The qualifying ratio for many loans is 50% although some sub prime loans allow higher ratios. So if you had a 220K mortgage on a 30 year term and 6% interest your payment would be: $1,319 per month plus taxes and...
Regina Said:If your house burns down and its mortgaged, what does your house insurance cover?We Answered:Assuming the policy is a "replacement cost" policy, most insurance policies cover the lesser of:
1) Cost to repair/replace the house
or
2) The "Coverage A" policy limit. (Building Coverage)
When a person purchases a homeowners policy, they purchase a policy for a certain dollar amount. (i.e. someone buys a brand new $250,000 house, the home is usually covered for $250,000 - $275,000 depending on the area) This dollar amount is called the replacement cost. Don't get this confused with "market value." Replacement cost and market value are two...
Clyde Said:Anyone out there know the benefits of mortgage insurance?We Answered:Mortgage insurance can mean several different types of insurance.
1. (a) If you are purchasing a home and are requested to carry mortgage insurance this is an insurance policy that protects the lender if the mortgagee fails to pay his mortgage. It does not insurance the property or the home owner.
(b) a mortgagee can obtain mortgage insurance when purchasing a home to insure the title of the property is clear if any problems arise while the homeowner has the home. This is a...
Cindy Said:What can I do about my monthly mortgage payment going up as a result of lender error?We Answered:Even though it is the lender's mistake, you still purchased the home and you have to be responsible for its costs, even if they weren't properly disclosed to you.
If you want a remedy, contact a real estate attorney and see if there's anything that can be done. If the lender willfully neglected to tell you about those, then you might be able to get some money out of them. But if it was an honest mistake, you won't see anything. The burden...
Pearl Said:Why are the banks the ones in trouble when higher risk loans are insured via PMI?We Answered:Ah, but you see, PMI isn't paying claims, because FORECLOSURES aren't what's causing the crisis here.
PMI IS paying any deficits for the foreclosure houses that are being sold, when it is place. But part of the "sub prime" mortgage scam, was that people were being sold TWO loans - one first mortage at 80%, one second mortgage at a higher rate, for the 20% balance, THUS AVOIDING PMI.
Now, that still didn't cause the problem! The banking crisis...
Violet Said:Extra paycheck for health insurance reimbursement?We Answered:1. Is the whole amount of paycheck taxable or only for the amount left after deducting health insurance spent?
The entire paycheck is taxable. It should also be subject to SS and Medicare, and the employer should be paying the employer's share of SS and Medicare.
2. Is this common practice? What's really benefit doing this rather than having the extra amount added into W2 from employer and contractor perspectives?
It is not common but not a unique situation. The employer is either misinformed or doesn't want to pay payroll taxes on this money....
Cheryl Said:How can I find out if my neighbor has homeowners insurance and what company it is with?We Answered:You're probably going to have to sue him. Then he has a choice--defend the suit himself or report your claim to his insurance company. I don't believe his mortgage company would allow him to carry a mortgage without a liability policy, but he evidently thinks that if he stonewalls, you'll just go away. That's what litigation is for, and he will learn that this was a situation where he should have made the report up front....
Jerome Said:What affects mortgage insurance if you lose your job ?We Answered:no the insurance company will not cover you for this, the reason is that the initial probationary period is like a short term contract after which you are "upgraded" to the permenant contract so therefore you are not being made redundant you are just coming to the end of your contract,Becky Said:is there an insurance for homeowners in case of death, can a mortgage be paid for?We Answered:This type of policy is usually called Mortgage Protection Term but in reality is just a decreasing term life insurance issued for...
Olga Said:What type of Life Insurance would be best for me?We Answered:If I were you I would buy just enough coverage to cover the loans you presently have plus burial expenses. AND I would look for a rider on the policy for guaranteed insurability. This will allow you to buy more coverage when you need it - regardless of your health but at the age you have attained.
Many people that I meet who are in their 60's look back and wish they had bought some permanent insurance (whole life, universal life). So I would suggest that if...
Sergio Said:how do i figure out a monthly payment on a mortgage?We Answered:Don't forget to factor in your property taxes, PMI and insurance when figuring your monthly payment. Those are not included in online calculators.Bradley Said:What would being 2 weeks late on a mortgage payment do to my credit?We Answered:No late payment can be reported to the credit bureaus unless that are 30 or more days late so as long as your paying the late fees you fine credit wise.
You should contact your lender and see if you can get you due date changed so you can avoid the late...
Lance Said:Which re-financing option is better - 95% financing with PMI or 1st and 2nd mortgage without PMI?We Answered:the 20% mtg will be at a lot higher rate than the primary mtg - a couple of percent higher at least - you have to see which way you wind up paying more on - but also - the PMI isn't deductible like the extra interest would be so a lot of analysis is neededMiguel Said:Confused about Mortgage PMI, LTV, HELOC & Appraisal...Please help!?We Answered:Pretty standard across the industry: The lender will use the lesser of the sales price or appraised...
Mario Said:protection insurance?We Answered:The best coverage for death and disability will be two separate policies. There are life insurance policies with generous disability riders (compared to the days of yore), but they usually have limited amounts, and tend to only pay if you are "totally disabled" not just "partially disabled".
I would suggest searching for these two separately.Dana Said:What do you guys know about foreclosure assistance companies?We Answered:I would suggest that you seek counseling from a non-profit agency. If you go somewhere else, they may try to take advantage of your situation and make money off of you...
Helen Said:Does anyone know if we can reapply for a claim we made on our mortgage protection when my husband was sick?We Answered:This is exactly why this type of insurance is so piss poor and such a waste of money. Tell us who it is with and get at them that way honey.
They are nothing less than thieves and I would sue them for your payments back!...
Bob Said:Can someone explain in laymen's terms how mortgage rates are set by the 10 year treasury yield?We Answered:They are used because they have such a long time line. 10 year and 30 year bonds. At one time the 30 year bond and mortgage were paired. Then 30 year bonds were discontinued. So everyone used the 10 year.
US Treasury bonds are the safest investment in the world. Everything else is more risky. So a home mortgage might be 4.5% when the 10 year bond is 3%. The difference is the "risk premium". An investor is positive he...
Dorothy Said:what is a good financial crimes website?We Answered:try http://technicnews.com it seems fairly decent they have all sorts of stuff thereLois Said:Mortgage????We Answered:you left out income and your bills. please dont this think you work out the finances.Carol Said:How much mortgage debt is there in the USA?We Answered:You bring up an important question. The best data I can find on the 'net are figures for 2003 (USA Today) - nothing newer available according to them. If that number is correct then the total mortgage debt in the US, 2003, $6.3 trillion. Some adjustments must be made for the past four...
Marilyn Said:Can anyone recommend an insurance provider?We Answered:Endsleigh provide this service, although they call it Permanent Health Insurance. Give them a call on 0800 389 2193 or fill out the online enquiry form. Andrea Said:Payment Protection Insurance?We Answered:Unless you use a vendor like Paypal, there is no payment protection insurance. I'm not aware of any industry wide issues. Many, many people could have OTHER issues - like being blind and not being able to read the contract. But that's PERSONAL, and not an industry issue. If you don't know how it affects you, then it...
Perry Said:My loan officer says i need PMI insurance?We Answered:As far as I know, the calculations are done using the purchase price, not the appraisal price. (It's possible that it's the lower of the two.) To avoid PMI (which I'd always want to avoid if I could), it would seem like 20% of the $170k purchase price (i.e. $34k) would be enough, so I'm not sure what the other $6k is for. There are some additional fees that the buyer has to pay, but I wouldn't think they should be that much. Are there "points" on...
Freddie Said:home mortgage insurance - PMI?We Answered:Many of the subprime loans did not carry PMI. Rather, the "creative" mortgage companies (in an effort to outdo one another in lending to borrowers who were not creditworthy) came up with the "80-20" product. I don't believe that any loan product is bad in and of itself (I've had an 80-20 myself). However, some mortgage companies allowed borrowers to borrow 20% equity against the house they were buying with the 80% loan and using the 20% for the downpayment for the 80% loan (thereby removing the need for PMI --...
Donald Said:is it better to buy PMI upfront rather than getting a piggyback loan to avoid PMI?We Answered:If you can't afford to put 20% down on the house, you shouldn't be buying the house. Avoid both.Ellen Said:How and when is PMI removed on FHA loans?We Answered:Government loans never drop their PMI. You have to use a private or public lender for that.Annette Said:Home was foreclosed and sold at public auction. PMI Is now sueing for balance. What do I do?We Answered:It probably means bankruptcy. You best recourse is to talk to an attorney. If you really have no assets...
Tyler Said:How long will it take for Obamacare bill to destroy all the Private Insurance Companies?We Answered:My guess is four years. Right around the time that the actual benefits kick in you'll see the last of the insurance companies go **** up.
Not to worry, though. There's "more legislation to come." That means that there will already be a single-payer system in place when the hundreds of thousands of people in the insurance biz lose their jobs.
Maybe it is time to revolt.Lori Said:How are the millions of unemployed supposed to afford Obama's mandate to buy from private insurance...
Lynn Said:What is Private Mortgage Insurance?We Answered:It is insurance that reimburses a mortgage lender if the buyer defaults on the loan. This insurance is normally put in place when the loan exceeds 80% of the property value.Pearl Said:What is PMI (private mortgage insurance)?We Answered:PMI covers the lender, not you. It's insurance for which YOU pay to cover the lender in the event of your default on the mortgage.Tammy Said:what is a good place to find info on being a first time home buyer and avoiding private mortgage insurance?We Answered:There is no "fixed" number but the guidance is 80%. ...
Kirk Said:Does this situation seem 'ideal' and 'right' for having a baby?We Answered:sounds like they have a good plan on planning the timing of the baby
so yes i think the situation is right...
Johnny Said:What % of net income to spend on mortgage payment?We Answered:29% of GROSS income is what is used for loan + taxes and insurances
I am a mortgage banker in TN & KYGuy Said:In a mortgage, what is the total paid to the bank?We Answered:The $903.00 is the interest only. This would not pay the mortgage off. But you have to give the answer in 2 ways.
$903.00 x 360 = $325,080.00
$237.50 + $47.91 = $285.41 x 360 = $102,747.60 - assuming they don't go up over the next 30 years.
To pay off the loan, for a 30 year fixed, the...
Constance Said:Where can I go to get whole life insurance for my spouse and I?We Answered:Any carrier with an AM Best rating of A+ or higher will do. More important than the company is who you purchase it through. Use a qualified financial advisor who determines your insurance need based on a comprehensive financial needs analysis. For most people, some permanent coverage, such as whole life, is advisable; but for working age adults, most of your coverage should normally be term.
Life insurance is a complex financial instrument to be acquired for specific purposes. As such, an...
Roberto Said:why do banks charge fees for mortgage insurance?We Answered:The fee for mortgage insurance is because the bank is taking on more risk if your down payment is not enough (less than 20% down payment). They want some assurance that they will get their money if you do not make your payments. The 20% cushion is because there are other legal fees involved in foreclosure, and prices can fluctuate, especially since they would likely get less at a foreclosure auction than if they had more time to sell it normally.Kurt Said:why is my mortgage company forcing me...
Sandra Said:Will your own mortgage company work with you by giving a fix rate even if your home is worth less?We Answered:Call your mortgage lender and let them know you are going shopping for a fixed rate and you are checking with them first. If you have made payments on time in the past, the mortgage company will work with you. Heard on Suzie Orman Show that to increase your odds of qualifying make sure your credit cards have zero balances.Max Said:What does it mean to when you do a loan modification thru your mortgage company?We Answered:Usually a...
Max Said:What happens to your mortgage if your lender goes bankrupt?We Answered:Your mortgage is an "Asset" to your mortgage holder.
In event of a liquidation, the Assets are sold to another company.
You would probably have to make your payment to a different place but not much else would change.
Diana Said:How do you know if your mortgage lender received bailout money?We Answered:HSBC has not received any direct funds from the United States Government. HSBC is not a United States owned bank. HSBC is not based in the USA.Dwayne Said:Can your mortgage lender check your credit report without your consent?We Answered:Your current mortgage...