Recent questions tagged mortgages

Description : Do some poor people, who were, perhaps, raised in poverty, not understand what it takes to live fairly comfortably?

Last Answer : It sounds like she wanted to guilt you into renting to her at a price that she could afford, not taking into consideration it was a house she could not afford. You have to make your mortgage payment and most ... and make up the difference that a renter can't pay. I would not have felt bad at all.

Description : At what age do you see yourself totally out of debt?

Last Answer : Want to join us for a mortgage burning party?

Description : Do you know how much your house mortgage will cost you over time? Do you care?

Last Answer : That’s one way to look at it. Or you can look at it like my nephew. “Why should I rent and make someone else rich.” Plus it’s still deductible if you can itemize.

Description : Should I be concerned and am I "upside down" in my mortgage?

Last Answer : $79k for a house?!? Wow. Well, you purchased this in 1999. How much do you currently owe on it? (Is this in the U.S.? Are you missing a “2” before that “7”?)

Description : What happens if you make your final mortgage payment but the primary borrower on the mortgage is deceased?

Last Answer : It is not a matter of who is on the note, it is who is on the deed. This would probably change according to state laws. The house might have needed to go into probate upon the holder of the deed’s death. In some states it just automatically goes to the spouse (in the absence of a will.)

Description : Why is the US government going to bail out Freddie Mac and Fannie Mae?

Last Answer : answer:Because it is Barney Frank's pet project, and he controls the committee that oversees Fanny and Freddie. Also he gets lots of campaign contributions from the Board of Directors. Personally I think ... will hurt some people short term, but in the long run it will make the economy stronger.

Description : When an ARM (adjustable rate mortgage) adjusts, does only the interest rate change, or is the balance re-amortized for the remaining period?

Last Answer : ARMs reamortize out to the original length of the contract on the adjustment date. If you make extra principal payments the monthly payments will be reduced to maintain the same maturity date. I knocked over $100 off my monthly payment in the first five years of my mortgage by making extra payments.

Description : Could I short sale my house and have wife purchase new home under her name?

Last Answer : answer:If your wife is not on your current loan and can afford to, independent of your finances,qualify for and purchase another home that you quit claim any interest to then it's possible she could buy a ... be easy and will be a pay now/pay later scenario. Better to stick with the devil you know.

Description : My property is upside down, and co-signer owes child support. Will they place a lien against him?

Last Answer : How is your property upside down? What do you mean?

Description : Mortgage payment as a percentage of gross income?

Last Answer : The 28% is simply a guideline that should include PITI (principal, interest, taxes & insurance), but in some cases- you can exceed that 28% with excellent credit. It can also be affected when you take into ... To Value ratio). It's a great time to buy if it's feasible for you. Good luck!

Description : Can I get mortgage?

Last Answer : Where do you live?

Description : What does APR mean on credit card statements?

Last Answer : APR is the cost of credit that consumers pay, expressed as a simple annual percentage.

Description : How do I get refinanced with broken credit?

Last Answer : You may want to try Prosper peer-to-peer lending. Loans may be available to people who are not eligible for bank loans.

Description : Is there a minimum amount of time between mortgage refinancing?

Last Answer : you should be able to refinance at anytime. Banks don't mind because they collect the fees. Unless your financing has it in your agreement, you should be fine. Ask them about no points/no closing ... don't offer that, you can always shop other companies will wave those fees to get your business.