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Jaime Said:

I live in Indiana and just purchased a used motorcycle and I have a couple of questions?

We Answered:

You do not need insurance or a license to get a new title in your name for the motorcycle. You do need those for the registration (license plate).

If the current title in an Indiana title you should not need to have the motorcycle at the BMV. If it is an out of state title, you will have to have the motorcycle present for a VIN and engine number inspection.

Generally a properly signed title and Bill of Sale is all you need to transfer title of the motorcycle. You can get a registration in the spring once you have your motorcycle endorsement and can get insurance.

Alice Said:

Are my closing costs to high in San Antonio, TX?

We Answered:

YES this is WAY TOO high!!!! The origination is average, but you should not have to pay 2% in discount points - period! The tax relation service is a joke - we only charge $59!!!!! Seriously, they are screwing you royally. Also, the processing fee is straight income to the lender, that's not needed either. I'd also be curious to know what tax certificates and endorements are, I'm not familiary with those but then again it may be a state fee (I do loans in Washington state).

Prepaids and reserves will not change from lender to lender, those are standard costs when purchasing a home.

PLEASE shop around you are easily paying $3,500 too much!! At my credit union you could get a $122,003 loan for about $3,000 in closing costs at the same rate of 5.875% on a 30 year fixed loan, whereas you're paying $6,553 for the same thing!! Do yourself a favor and shop around by getting a Good Faith Estimate, check with local credit unions they're generally cheaper in closing costs. Good luck.

Jose Said:

First time home buying - freaking complicated?

We Answered:

Yep..those are all fees you will have to pay or share with teh seller. In many jurisdictions, the transfer fees are split between buyer and seller. The appraisal and inspection fees will have to be paid out-of-pocket and the processor may request the credit check fees up front.

You will also have to place an earnest deposit on the house when you make an offer (usually $1,000). This goes toward your deposit at settlement and helps assure the seller you are just not yanking his chain. Under certain circumstances, this deposit is forfeit if you do not complete the transaction (i.e., you decide halfway through the process you are no longer interested - this protects the seller a bit from lost opportunity after they pull the house off the market).

A good rule of thumb is that the closing costs will total between 3 and 5% of the purchase price depending on local customs and charges. Once you place an offer and start the process, you will reeive a Good Faith Estimate as to how much these fees/costs will be. Some of them are negotiable and you can shop around for your own title insurance. Remember that the initial Title insurance only covers the lender and if you want coverage also, you will have to get a second policy. You will also need homeowners insurance before qualifying for a mortgage.

Clara Said:

Should I refinance my mortgage?

We Answered:

Hi!! Giving a quick answer, NO!!!! stay with the one you have for now, re-check when you know where the economy is headed in a year or so.....

Jonathan Said:

Socialist, an inaccurate and far-Right misnomer of Barack Obama's corporatist policies?

We Answered:

I agree and I'm glad Ron Paul isn't afraid to tell the truth and also mention "corporatist" which means he's not afraid to speak against corporations and especially the politicians that are bought by them.

Joe Said:

what's the best way to obtain motorcycle license for an out-of-state student?

We Answered:

You should have a long talk with the DMVs of both states. As an active military member, I change my driver's license all the time and it doesn't really affect anything, but it may for you.

It should be as easy as getting your AZ driver's license, getting your motorcycle endorsement, then getting a new VA driver's license with motorcycle endorsement.