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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 can see what rates you qualify for.
4. Make sure you know WHAT loan product you are getting and WHY that benefits you. Certain loan types offer incentive to the Loan Officer not the borrower.
5. Do not be afraid to be assertive and negotiate. The hagglers always get the best deals.

Micheal Said:

I am starting a new business in financial services but I need a name for my business.?

We Answered:

Hello,

Finance Hot Spot

All Finance, All the Time (wait, does this sound familiar?)

Financial Gourmet
"We cater to virtually every financial need under the sun"

Trust Financial

Complete Finance Portfolio Inc
"Insurance to Investments and everything in Between"

Best of luck,
http://bloggingmyownbusiness.blogspot.co…

http://boutiquepublications.com

Samuel Said:

Washington Mutual Mortgage Nightmare- Anyone Else???

We Answered:

My mortgage was sold to WaMu shortly after my closing, but I haven't had any problems with them. Keep in mind they bought my existing loan so they did not originate the loan and had to abide by the terms of my original mortgage. I have heard that they as well as World Savings do do negative amortization loans and those are very bad for the consumer.

It is probably going to be difficult for you to refinance if you have late payments showing up on your existing loan, whether they are your fault or the bank, it doesn't matter because it still shows up as a late on your credit report and hurts you.

You could check the consumer site www.ripoffreport.com and see how many other people are having trouble. Sometimes class action suits arise out of posts on that site.

Bryan Said:

is my mortgage company supposed to resume to mail me statements after I filed for bankrupcy?

We Answered:

Legally they cannot communicate with you once you file for bankruptcy even if you want to keep the house.

If your plan is to keep the house keep sending them the funds, once you sign your reaffirmation agreement they will go back and properly post your payments (also keep track of your payments so you can verify they have all been applied correctly). Continue to communicate with them, since they are not legally allowed to call you or contact you by mail so they know your intentions and so you can keep your mortgage in good standing for once the bankruptcy is discharged. The problem with not sending payments is once you sign the reaffirmation agreement it is as if you never filed to your mortgage company, so if at that point you are 3 months past due they can start forclosure proceedings, charge you a bunch of penalties, ect! So just keep paying!

Carl Said:

Washington Mutual went under today, biggest Bank failure in US history. Was this what Bush was warning about?

We Answered:

Yes. Things are getting scary. FDIC has only so much in the way of assets to insure bank customers.

Samantha Said:

Can someone translate these phrases/terms into Chinese?

We Answered:

Debt consolidation loan = ??????

Debt consolidation = ????

loan = ??

Mortgage = ??

Car Insurance = ???

Mutual Funds = ????

Home Owner's insurance = ?????

Help with renting an apartment = ???????

Help with renting a business space = ??????

Contacting customer service and making inquiries = ?????????

Making phone calls in English = ??????

No Broker fees = ?????

Buying a house = ???

Notary services = ????

"Most services are available for business and personal use" = “?????????????????”

Interpreting services = ????

Interpreting at the bank = ?????

Bilingual in Mandarin and English = ??????????

Marketing = ??

Advertising = ???

Greg Said:

How many different types of insurance licenses are in FL?

We Answered:

For selling insurance, there's a Property/casualty, and a life/accident/health. Each one has a resident/non-resident qualifier.

Mutual funds and mortgage insurance are different things - typically mortgage insurance is either a type of life, or a type of disability. Mutual funds are a finance product, and there's a WHOLE BUNCH of licenses you might need for that.

I think you're better off not trying to back into this - find a job you want, THEN see what you need to do.