Questions About Mortgages

Jennifer Said:

Theoretical question about mortgages and banks and going bust?

We Answered:

technically yes if interest rates fell to 0 per cent i would have to pay 0 pounds per month back , but we all know what a bunch of bastards the banks are . they lend unrealistic amounts of money to people they know to well who cant afford it then go cap in hand to the government to bail them out and still demand arrears and threaten people with repossession when they were the ones who got people and the economy in the state it is now. **** the banks and all they stand for not only do i have to pay my mortgage i have to pay tax to keep them whilst i am expected to keep a wife and kids 94 pounds per week through no fault of mine. those slimy bastards always cover their tracks

Ramona Said:

Questions about mortgages.?

We Answered:

Do you plan on selling it right after renovations? This is called "flipping."

First, u need to get approved for a mortgage before you can even start looking at houses.

You can explain your situation to the lender and see what can be done for you.

Once you buy the house, an inspection would take place. It's not required, but always a good idea. You would need to pay for the inspector out of your own pocket.

George Said:

Questions about mortgage after bankruptcy. Can you help?

We Answered:

You could ask advice from your bank...

Marvin Said:

A few questions about mortgages please help!?

We Answered:

With your credit scores, and income... it would be wise to go for a cheaper house. You MAY get approved but always remember.... what if you can BARELY make the payments now? What will happen if one, or both, of you get laid off and you can't make payments?
You can always upgrade to a bigger house later. For now, just start out small, and SAVE.

Terry Said:

A few questions about mortgages?

We Answered:

What helped me:
I went to my library (bookstore if you don't have one).
I got a couple of books.
1. Home Buying for Dummies.
2. Mortgages for Dummies
3. Credit and Debt Repair (wanted to make sure my credit was perfect).
Make a trip tomorrow.
You'll be gripped by the information in these books - they don't waste time and tell you what you want to know...

Julia Said:

I want to purchase my first house, but I have questions about mortgages? Credit questions.?

We Answered:

Sorry but you must be employed full time, show a credit history of two years, you do not have enough cash for the down payment and the closing costs. Your income is inadequate.

Christy Said:

Questions about mortgages, loans, refinancing?

We Answered:

Play hard ball with them. Keep a running list of the lender, term years and rate. I originally had a 30 year fixed at 8%. Went online, looked at the offers, and played one against the others. Took the lowest online offer and started researching local banks to beat the best online offer. Ended up refinancing at a local bank for 5.625% for 25 years, with a bi-weekly payment (believe it will be paid off in 20 years).

Tips: Some banks will throw you extra bones and incentives for: 1) having a account with them (start one), 2) having your payment pulled automatically, 3) having direct depoits, and 4) making bi-weekly payments (sending the same amount - just quicker).

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