How does mortgage fraud affects the subprime mortgage crisis?
Q. In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What's the part that these frauds played in the actual mortgage crisis ? Thanks.
Asked by Inigo - Thu Jun 19 19:58:22 2008 - - 4 Answers - 1 Comments
A. read on... The above article elucidates you on the actual subprime mortgage crisis in us. and the persons behind the mortgage fraud and all those who are to be directly blamed for this financial catastrophe.
Answered by Oye chak de phatte!! - Mon Jun 23 10:59:51 2008
Q. In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What's the part that these frauds played in the actual mortgage crisis ? Thanks.
Asked by Inigo - Thu Jun 19 19:58:22 2008 - - 4 Answers - 1 Comments
A. read on... The above article elucidates you on the actual subprime mortgage crisis in us. and the persons behind the mortgage fraud and all those who are to be directly blamed for this financial catastrophe.
Answered by Oye chak de phatte!! - Mon Jun 23 10:59:51 2008
How to mortgage a home with no credit history?
Q. How can one mortgage a home without any credit history? We don't own any credit cards and credit is harder now to obtain than before. What kind of a down payment would we need? Thanks!
Asked by Mamacita - Mon Nov 30 15:23:48 2009 - - 5 Answers - 0 Comments
A. creditreport.imess.net - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Answered by Max - Wed Dec 2 17:31:10 2009
Q. How can one mortgage a home without any credit history? We don't own any credit cards and credit is harder now to obtain than before. What kind of a down payment would we need? Thanks!
Asked by Mamacita - Mon Nov 30 15:23:48 2009 - - 5 Answers - 0 Comments
A. creditreport.imess.net - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Answered by Max - Wed Dec 2 17:31:10 2009
I have a mortgage on one home, can I get a second mortgage to pay for another house?
Q. I'm planning to relocate, but current owe a mortgage for $50k. I also have a bankruptcy on my record thats a couple of years old. I'd like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one?
Asked by TexasBound - Sat Mar 8 22:52:49 2008 - - 5 Answers - 0 Comments
A. That depends on a few things. How much equity do you have in your current home? What is your credit score? What is your debt load? Yes you can get a 2nd mortgage on your current home to buy another, people do it all the time. Your income must support maintaining your current home (you should be able to get a renter in there to offset the mortgage payment or some portion there of) and support your new mortgage. You can get a loan with a BK. Many lenders require it to be discharged for 2 years, however, there are still a few lenders that will lend on a BK only being discharged 1 day. In a nutshell, yes you can, if all your other ducks are in a row. Good luck
Answered by lendingwhiz2008 - Sat Mar 8 23:08:04 2008
Q. I'm planning to relocate, but current owe a mortgage for $50k. I also have a bankruptcy on my record thats a couple of years old. I'd like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one?
Asked by TexasBound - Sat Mar 8 22:52:49 2008 - - 5 Answers - 0 Comments
A. That depends on a few things. How much equity do you have in your current home? What is your credit score? What is your debt load? Yes you can get a 2nd mortgage on your current home to buy another, people do it all the time. Your income must support maintaining your current home (you should be able to get a renter in there to offset the mortgage payment or some portion there of) and support your new mortgage. You can get a loan with a BK. Many lenders require it to be discharged for 2 years, however, there are still a few lenders that will lend on a BK only being discharged 1 day. In a nutshell, yes you can, if all your other ducks are in a row. Good luck
Answered by lendingwhiz2008 - Sat Mar 8 23:08:04 2008
How can I become a mortgage broker in california?
Q. I simply cannot seem to find legitimate information on becoming a mortgage broker in California. Many of the web sites that purport to have information really share very little of anything and some are just plain frauds. I'd like to find information on mortgage broker training and possibly information on finding a school (preferably Los Angeles) where I can get training on becoming a mortgage broker.
Asked by Dennis S - Fri Jan 5 21:13:53 2007 - - 1 Answers - 0 Comments
A. What are you thinking BRO that is a bad job especially this time of the year. You only get two applicants a week. No houses selling.
Answered by gear jammer - Fri Jan 5 21:22:48 2007
Q. I simply cannot seem to find legitimate information on becoming a mortgage broker in California. Many of the web sites that purport to have information really share very little of anything and some are just plain frauds. I'd like to find information on mortgage broker training and possibly information on finding a school (preferably Los Angeles) where I can get training on becoming a mortgage broker.
Asked by Dennis S - Fri Jan 5 21:13:53 2007 - - 1 Answers - 0 Comments
A. What are you thinking BRO that is a bad job especially this time of the year. You only get two applicants a week. No houses selling.
Answered by gear jammer - Fri Jan 5 21:22:48 2007
What happens to the mortgage on a house that is left to me in a will?
Q. A relative will be leaving me a house in their will. If there is a mortgage (home equity) on the house when they die, do I take over the mortgage? I intend on selling the house when it is left to me.
Asked by Lost in Massachusetts - Thu Jul 10 14:39:58 2008 - - 4 Answers - 0 Comments
A. It goes with the property. If you(or the executor) don't pay the mortgage the lender will foreclose. If you wish to sell, by all means do so but make the mortgage payments while you are the owner. And, by the way, you are not required to take the property--you can decline the inheritance if there is no equity or not enough equity to make it worth your while.
Answered by frak1a12345 - Thu Jul 10 15:06:46 2008
Q. A relative will be leaving me a house in their will. If there is a mortgage (home equity) on the house when they die, do I take over the mortgage? I intend on selling the house when it is left to me.
Asked by Lost in Massachusetts - Thu Jul 10 14:39:58 2008 - - 4 Answers - 0 Comments
A. It goes with the property. If you(or the executor) don't pay the mortgage the lender will foreclose. If you wish to sell, by all means do so but make the mortgage payments while you are the owner. And, by the way, you are not required to take the property--you can decline the inheritance if there is no equity or not enough equity to make it worth your while.
Answered by frak1a12345 - Thu Jul 10 15:06:46 2008
How can I get mortgage company to endorse insurance check before work is done?
Q. I have a check from my insurance company for hurricane damage. My mortgage company will not endorse the check until the work is done. I need the money to get the work done. How can I get the mortgage company to endorse the check ?
Asked by Susan D - Mon Nov 24 21:06:35 2008 - - 3 Answers - 0 Comments
A. You can't. But you could have your adjuster reissue the check directly to the contractor. Any contractor should be willing to work with you on this - you'll likely have to pay them your deductible, directly, but most REAL contractors that don't scam you, should be willing to take payments as the job completes.
Answered by mbrcatz - Mon Nov 24 21:57:25 2008
Q. I have a check from my insurance company for hurricane damage. My mortgage company will not endorse the check until the work is done. I need the money to get the work done. How can I get the mortgage company to endorse the check ?
Asked by Susan D - Mon Nov 24 21:06:35 2008 - - 3 Answers - 0 Comments
A. You can't. But you could have your adjuster reissue the check directly to the contractor. Any contractor should be willing to work with you on this - you'll likely have to pay them your deductible, directly, but most REAL contractors that don't scam you, should be willing to take payments as the job completes.
Answered by mbrcatz - Mon Nov 24 21:57:25 2008
How do I calculate mortgage payments when buying a home from a family member?
Q. We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn't as secure. What are the specific down-sides to this?
Asked by Y? - Tue Sep 2 07:03:29 2008 - - 3 Answers - 1 Comments
A. Go thru a Title Company for the closing and have them prepare a amoritization schedule for you ...
Answered by HIGH SHAMAN - Tue Sep 2 11:15:53 2008
Q. We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn't as secure. What are the specific down-sides to this?
Asked by Y? - Tue Sep 2 07:03:29 2008 - - 3 Answers - 1 Comments
A. Go thru a Title Company for the closing and have them prepare a amoritization schedule for you ...
Answered by HIGH SHAMAN - Tue Sep 2 11:15:53 2008
If mortgage bonds are secured corporate bonds then how did the subprime bubble happen?
Q. I am trying to understand secure bonds and I know mortgage bonds are secured bonds,if that is the case,even if they default ,the investor should get the prinicipal back.Can someone give an explanation of this works.
Asked by kmm - Fri Oct 19 12:02:04 2007 - - 2 Answers - 0 Comments
A. I'll try to explain this clearly, because it can be confusing: Person Z buys a house using a mortgage from Bank Z. Bank Z takes Person Z's mortgage and packages it up with many other mortgages. Bank Z then sells the mortgages to Company R. Company R issues bonds using the mortgages as collateral. In effect, they are saying "Even if our corporate credit isn't enough to convince you to buy our bonds, we're backing them up with these mortgages for extra protection." Because the bond is secured, they can offer a lower coupon rate (the bond is less risky). Person A, seeing this great secured bond, buys a lot of them. Now, interest rates rise and Person Z's adjustable-rate, interest-only jumbo loan goes from $800/month to $3500/month. … [cont.]
Answered by sactoking - Fri Oct 19 14:05:24 2007
Q. I am trying to understand secure bonds and I know mortgage bonds are secured bonds,if that is the case,even if they default ,the investor should get the prinicipal back.Can someone give an explanation of this works.
Asked by kmm - Fri Oct 19 12:02:04 2007 - - 2 Answers - 0 Comments
A. I'll try to explain this clearly, because it can be confusing: Person Z buys a house using a mortgage from Bank Z. Bank Z takes Person Z's mortgage and packages it up with many other mortgages. Bank Z then sells the mortgages to Company R. Company R issues bonds using the mortgages as collateral. In effect, they are saying "Even if our corporate credit isn't enough to convince you to buy our bonds, we're backing them up with these mortgages for extra protection." Because the bond is secured, they can offer a lower coupon rate (the bond is less risky). Person A, seeing this great secured bond, buys a lot of them. Now, interest rates rise and Person Z's adjustable-rate, interest-only jumbo loan goes from $800/month to $3500/month. … [cont.]
Answered by sactoking - Fri Oct 19 14:05:24 2007
How do you calculate what your mortgage payment will be without using a mortgage calculator?
Q. Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? I need to know how to do the mathematical calculations, don't just give me the anwser.
Asked by NeedInfo06 - Mon Jan 14 00:49:20 2008 - - 7 Answers - 0 Comments
A. monthly payment = interest portion + principal portion m1=12 in us the interest is compounded monthly (in canada m1=2, interest is compounded semi-annual) m2=12 payment every month YR=25 %int=6 percent annual interest n= m2 * YR = 12 * 25 = 300 int=%int / 100 / m1 = 6 / 100 / 12 = 0.005 INT = (1 + int) ^ (m1 / m2) -1 INT = (1 +0.005) ^ (12 /12) -1 = 0.005 PV = loan = 200,000 F1 = interest portion of mortg F1 = PV * INT = 200,000 * 0.005 = 1000 F2 = equal monthly payment factor F2 = 1 - [1 + INT] ^ [ - n ] F2 = 1 - [1 + 0.005] ^ [ - 300 ] F2 = 0.77603432 PMT = monthly payment = F1 / F2 = 1000 / 0.77603432 PMT = 1288.60
Answered by Tony Q - Wed Jan 16 11:19:38 2008
Q. Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? I need to know how to do the mathematical calculations, don't just give me the anwser.
Asked by NeedInfo06 - Mon Jan 14 00:49:20 2008 - - 7 Answers - 0 Comments
A. monthly payment = interest portion + principal portion m1=12 in us the interest is compounded monthly (in canada m1=2, interest is compounded semi-annual) m2=12 payment every month YR=25 %int=6 percent annual interest n= m2 * YR = 12 * 25 = 300 int=%int / 100 / m1 = 6 / 100 / 12 = 0.005 INT = (1 + int) ^ (m1 / m2) -1 INT = (1 +0.005) ^ (12 /12) -1 = 0.005 PV = loan = 200,000 F1 = interest portion of mortg F1 = PV * INT = 200,000 * 0.005 = 1000 F2 = equal monthly payment factor F2 = 1 - [1 + INT] ^ [ - n ] F2 = 1 - [1 + 0.005] ^ [ - 300 ] F2 = 0.77603432 PMT = monthly payment = F1 / F2 = 1000 / 0.77603432 PMT = 1288.60
Answered by Tony Q - Wed Jan 16 11:19:38 2008
How does making your mortgage payment bi-weekly save you money?
Q. I got a letter in the mail from the bank that says paying our mortgage payment bi-weekly instead of monthly could save us $40,000 to $100,000 in interest and reduce our mortgage term by 7 to 9 years without refinancing. How does this work?
Asked by honeybear - Mon Oct 22 20:06:28 2007 - - 4 Answers - 0 Comments
A. The "interest on 15 days instead of 30" isn't always true. Many mortgage companies who offer this program just hold the first half till the second half arrives. The mortgage company might make some interest, holding all those half payments for 15 days, but you don't. The real benefit is that paying every 2 weeks make for 13 months. You make an extra payment which goes right to the principal. You don't need to pay the mortgage company the $300 or $3000 (whatever the current fee) to set this up. You can pay extra on your principal anytime you want. Even paying as little as $10 every month will shorten your loan.
Answered by bdancer222 - Mon Oct 22 20:22:21 2007
Q. I got a letter in the mail from the bank that says paying our mortgage payment bi-weekly instead of monthly could save us $40,000 to $100,000 in interest and reduce our mortgage term by 7 to 9 years without refinancing. How does this work?
Asked by honeybear - Mon Oct 22 20:06:28 2007 - - 4 Answers - 0 Comments
A. The "interest on 15 days instead of 30" isn't always true. Many mortgage companies who offer this program just hold the first half till the second half arrives. The mortgage company might make some interest, holding all those half payments for 15 days, but you don't. The real benefit is that paying every 2 weeks make for 13 months. You make an extra payment which goes right to the principal. You don't need to pay the mortgage company the $300 or $3000 (whatever the current fee) to set this up. You can pay extra on your principal anytime you want. Even paying as little as $10 every month will shorten your loan.
Answered by bdancer222 - Mon Oct 22 20:22:21 2007
How could I work out my monthly mortgage payments if I only had a pen and paper?
Q. I know I could use a simple mortgage calculator, but I am curious to know how my mortgage payment is arrived at. Is it cumulative interest plus principal divided by years and months. Please could you supply a detailed example as I not too hot with maths. For example a 1000 mortgage at 5% over 25 years.
Asked by fergl - Fri May 2 15:44:49 2008 - - 4 Answers - 0 Comments
A. There is a formula for the monthly mortgage payment, M, in terms of the monthly interest rate, i, the loan amount, P, and the number of months in the repayment period, n. The formula is M = i*P * (1+i)^n / ((1+i)^n - 1) It will probably be less confusing with a concrete example. Take, for example, your suggestion of a 100,000 mortgage at 5% interest for 25 years. That gives a monthly interest rate (i) of .05/12 = 00416667 and a repayment period (n) of 300 months. The first thing to do is calculate 1.00416667 raised to the 300th power. (You will find this MUCH easier using a calculator, but you could also do it with pen and paper.) I get 1.00416667 ^ 300 = 3.48129 Plugging this result and the other numbers into the formula, you… [cont.]
Answered by zygote222 - Fri May 2 17:18:40 2008
Q. I know I could use a simple mortgage calculator, but I am curious to know how my mortgage payment is arrived at. Is it cumulative interest plus principal divided by years and months. Please could you supply a detailed example as I not too hot with maths. For example a 1000 mortgage at 5% over 25 years.
Asked by fergl - Fri May 2 15:44:49 2008 - - 4 Answers - 0 Comments
A. There is a formula for the monthly mortgage payment, M, in terms of the monthly interest rate, i, the loan amount, P, and the number of months in the repayment period, n. The formula is M = i*P * (1+i)^n / ((1+i)^n - 1) It will probably be less confusing with a concrete example. Take, for example, your suggestion of a 100,000 mortgage at 5% interest for 25 years. That gives a monthly interest rate (i) of .05/12 = 00416667 and a repayment period (n) of 300 months. The first thing to do is calculate 1.00416667 raised to the 300th power. (You will find this MUCH easier using a calculator, but you could also do it with pen and paper.) I get 1.00416667 ^ 300 = 3.48129 Plugging this result and the other numbers into the formula, you… [cont.]
Answered by zygote222 - Fri May 2 17:18:40 2008
If you have a mortgage, who is responsible for filing a Homestead and mortgage exemption?
Q. The taxes in our area when up drastically. My friend asked me to review his tax bill and I noticed he did not have a Homestead or Mortgage exemption. He has a 30 year mortgage on the property and it is his only & primary residence. He's had the mortgage for five years. Is there a way for him to recoupe some of those taxes because he didn't have those exemptions. Is his mortgage company responsible? What about the back money that is owed to him because the county was over charging because he did not have those exemptions for 5 years
Asked by Alberto M - Sun Feb 1 02:03:58 2009 - - 1 Answers - 0 Comments
A. your friend is the one who would do that. if he thinks his tax is too high he can call the assessors office and they should recalculate it or at least check it out. there should be a place on the tax bill that says what to do if you don't agree with the tax.
Answered by R K - Sun Feb 1 03:16:36 2009
Q. The taxes in our area when up drastically. My friend asked me to review his tax bill and I noticed he did not have a Homestead or Mortgage exemption. He has a 30 year mortgage on the property and it is his only & primary residence. He's had the mortgage for five years. Is there a way for him to recoupe some of those taxes because he didn't have those exemptions. Is his mortgage company responsible? What about the back money that is owed to him because the county was over charging because he did not have those exemptions for 5 years
Asked by Alberto M - Sun Feb 1 02:03:58 2009 - - 1 Answers - 0 Comments
A. your friend is the one who would do that. if he thinks his tax is too high he can call the assessors office and they should recalculate it or at least check it out. there should be a place on the tax bill that says what to do if you don't agree with the tax.
Answered by R K - Sun Feb 1 03:16:36 2009
Can a mortgage company file a 1099 when you are in default without a summary jugement?
Q. We are residents of Texas and the property in foreclosure is in Delaware. Second mortgage holder is threatening to file a 1099.
Asked by mexlin - Wed Apr 25 10:39:21 2007 - - 0 Answers - 0 Comments
A. Yes they can. TX practice is to use a Trust Deed, not a standard mortgage. No court action is needed to foreclose on a TD. No judgment is needed to write off a bad debt and send the borrower a Form 1099-C for the COD income. The lender has decided that you are not worth suing for the debt and is trying to use the threat of a possibly massive tax debt (that the irs will collect) to prompt you into paying something towards the debt that you owe.
Answered by Bostonian In MO - Wed Apr 25 10:47:27 2007
Q. We are residents of Texas and the property in foreclosure is in Delaware. Second mortgage holder is threatening to file a 1099.
Asked by mexlin - Wed Apr 25 10:39:21 2007 - - 0 Answers - 0 Comments
A. Yes they can. TX practice is to use a Trust Deed, not a standard mortgage. No court action is needed to foreclose on a TD. No judgment is needed to write off a bad debt and send the borrower a Form 1099-C for the COD income. The lender has decided that you are not worth suing for the debt and is trying to use the threat of a possibly massive tax debt (that the irs will collect) to prompt you into paying something towards the debt that you owe.
Answered by Bostonian In MO - Wed Apr 25 10:47:27 2007
How does mortgage companies work when a person dies?
Q. My mom and sister are both named on the mortgage. Payments are still being made. My mom just passed and my sister does not have a job because she was caring for our ailing mother.
Asked by twister382836 - Sun Jul 27 08:45:51 2008 - - 4 Answers - 0 Comments
A. It sounds like your sister needs to sell the house ASAP, or get herself a job to pay the mortgage, otherwise it be foreclosed.
Answered by Landlord - Sun Jul 27 10:00:04 2008
Q. My mom and sister are both named on the mortgage. Payments are still being made. My mom just passed and my sister does not have a job because she was caring for our ailing mother.
Asked by twister382836 - Sun Jul 27 08:45:51 2008 - - 4 Answers - 0 Comments
A. It sounds like your sister needs to sell the house ASAP, or get herself a job to pay the mortgage, otherwise it be foreclosed.
Answered by Landlord - Sun Jul 27 10:00:04 2008
How does my mortgage affect letting my house out?
Q. I have an interest only mortgage with my mortgage lender but I would now like to let my house out. I have been advised that if I let my house out I am obliged to let my mortgage provider know. I don't know what the repercussions of this would be if I did or didn't tell them. How would they find out if I just let it out anyway? What would they do if they ever found out? If I meet their mortgage repayments they shouldn't have a problem, should they? Can anyone enlighten me on these matters?
Asked by Spunkfight - Tue May 6 04:37:06 2008 - - 1 Answers - 0 Comments
A. If your mortgage agreement states that you must notify the lender if you rent your house, then you must do so or you are violating the agreement. If you are in violation, the lender may demand repayment of the debt. If the agreement is silent on the matter, you are free to let your house with no repercussions. Naturally, you still have to satisfy your mortgage payments. Read your mortgage contract to find out what it says about the matter.
Answered by Serge M - Tue May 6 07:37:33 2008
Q. I have an interest only mortgage with my mortgage lender but I would now like to let my house out. I have been advised that if I let my house out I am obliged to let my mortgage provider know. I don't know what the repercussions of this would be if I did or didn't tell them. How would they find out if I just let it out anyway? What would they do if they ever found out? If I meet their mortgage repayments they shouldn't have a problem, should they? Can anyone enlighten me on these matters?
Asked by Spunkfight - Tue May 6 04:37:06 2008 - - 1 Answers - 0 Comments
A. If your mortgage agreement states that you must notify the lender if you rent your house, then you must do so or you are violating the agreement. If you are in violation, the lender may demand repayment of the debt. If the agreement is silent on the matter, you are free to let your house with no repercussions. Naturally, you still have to satisfy your mortgage payments. Read your mortgage contract to find out what it says about the matter.
Answered by Serge M - Tue May 6 07:37:33 2008
2nd mortgage Foreclosure: How long is the delay to put it on your credit?
Q. We paid off a 2nd mortgageforeclosure before it went through. We continued to pay on our first mortgage with no problem. The attempted forclosure was not on our credit report until we refinanced with a new mortgage company. Is this fair? It looks suspicious that it only appeared on our credit after we refinanced with a new company. We understand that business is business but it seems that they were fine with everything until we pulled our mortgage from them and went with another company.
Asked by hruss7 - Thu Sep 27 13:23:28 2007 - - 4 Answers - 1 Comments
A. Well, you were late, so the info is accurate. It is probably just a coincidence... sometimes it takes time to get stuff posted onto a credit report.
Answered by Mike - Thu Sep 27 14:17:43 2007
Q. We paid off a 2nd mortgageforeclosure before it went through. We continued to pay on our first mortgage with no problem. The attempted forclosure was not on our credit report until we refinanced with a new mortgage company. Is this fair? It looks suspicious that it only appeared on our credit after we refinanced with a new company. We understand that business is business but it seems that they were fine with everything until we pulled our mortgage from them and went with another company.
Asked by hruss7 - Thu Sep 27 13:23:28 2007 - - 4 Answers - 1 Comments
A. Well, you were late, so the info is accurate. It is probably just a coincidence... sometimes it takes time to get stuff posted onto a credit report.
Answered by Mike - Thu Sep 27 14:17:43 2007
How does mortgage interest work when dealing with tax returns?
Q. How does a mortgage work when dealing with tax returns? Do we get back all the interest that we pay off or a certain percentage? Please provide backup in your answer.
Asked by holder_account - Wed Jul 8 23:05:37 2009 - - 2 Answers - 0 Comments
A.
Answered by Kimberly - Wed Jul 8 23:14:49 2009
Q. How does a mortgage work when dealing with tax returns? Do we get back all the interest that we pay off or a certain percentage? Please provide backup in your answer.
Asked by holder_account - Wed Jul 8 23:05:37 2009 - - 2 Answers - 0 Comments
A.
Answered by Kimberly - Wed Jul 8 23:14:49 2009
Can a Mortgage Company hold your insurance check for the repair of your building?
Q. My building suffered damage with a hail storm. The insurance company sent me a check made out to the mortgage company and to me. Now the Mortgage company is holding the funds and I can't finish the repairs needed. My mortgage payments are up to date. The repairs are done, the Mortgage company inspected the repairs and they are holding the depreciation check. Would anyone know why?
Asked by Charles C - Mon Dec 10 10:09:59 2007 - - 2 Answers - 0 Comments
A. Ask the mortgage company if they'll release the funds directly to your contractor. OTOH, MOST contractors will do the work, and THEN let you pay . . . But yes, they can do that.
Answered by mbrcatz - Mon Dec 10 10:14:49 2007
Q. My building suffered damage with a hail storm. The insurance company sent me a check made out to the mortgage company and to me. Now the Mortgage company is holding the funds and I can't finish the repairs needed. My mortgage payments are up to date. The repairs are done, the Mortgage company inspected the repairs and they are holding the depreciation check. Would anyone know why?
Asked by Charles C - Mon Dec 10 10:09:59 2007 - - 2 Answers - 0 Comments
A. Ask the mortgage company if they'll release the funds directly to your contractor. OTOH, MOST contractors will do the work, and THEN let you pay . . . But yes, they can do that.
Answered by mbrcatz - Mon Dec 10 10:14:49 2007
What are my options in getting a new mortgage; will it be a regular one or an investment mortgage?
Q. I bought a house a year ago and fixed it up while I was living n it. Now I want to buy a new house and rent my current one out. What are my options in getting a new mortgage; will it be a regular one or an investment mortgage?
Asked by eric_j_morton - Sun Feb 15 20:28:38 2009 - - 2 Answers - 0 Comments
A. As long as you plan to live in the new house it should be an owner occupied mortgage. However, you will need to have a written lease on your current home to count the rental income in qualifying for the new mortgage and generally they count the rental income at 50% of what you receive.
Answered by ghothem - Sun Feb 15 20:33:11 2009
Q. I bought a house a year ago and fixed it up while I was living n it. Now I want to buy a new house and rent my current one out. What are my options in getting a new mortgage; will it be a regular one or an investment mortgage?
Asked by eric_j_morton - Sun Feb 15 20:28:38 2009 - - 2 Answers - 0 Comments
A. As long as you plan to live in the new house it should be an owner occupied mortgage. However, you will need to have a written lease on your current home to count the rental income in qualifying for the new mortgage and generally they count the rental income at 50% of what you receive.
Answered by ghothem - Sun Feb 15 20:33:11 2009
Where can I find others' opinions on reputable mortgage companies?
Q. We are looking to refinance our mortgage. We had a bad experience with a mortgage broker the first time around. Aside from the BBB, are there any websites where I can find others' opinions/experiences with mortgage companies? Having received some offers already, there are a few which look too good to be true. The majority of the offers so far are at the same, somewhat higher rate (which seems to be the normal rate for our area). I just want to do some background research on the few companies that are offering the lower rates before we accept one of them. Thanks!
Asked by skategirl - Tue Jun 5 22:10:18 2007 - - 4 Answers - 0 Comments
A.
Answered by Jimmie - Tue Jun 5 22:19:37 2007
Q. We are looking to refinance our mortgage. We had a bad experience with a mortgage broker the first time around. Aside from the BBB, are there any websites where I can find others' opinions/experiences with mortgage companies? Having received some offers already, there are a few which look too good to be true. The majority of the offers so far are at the same, somewhat higher rate (which seems to be the normal rate for our area). I just want to do some background research on the few companies that are offering the lower rates before we accept one of them. Thanks!
Asked by skategirl - Tue Jun 5 22:10:18 2007 - - 4 Answers - 0 Comments
A.
Answered by Jimmie - Tue Jun 5 22:19:37 2007
From Yahoo Answer Search: 'mortgage'
Fri Dec 11 10:27:34 2009 [ refresh local cache ]
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The Obama administration disclosed a plan on Monday intended to increase pressure on mortgage companies to permanently reduce monthly ...
Obama administration pushes to make mortgage modifications permanent Los Angeles Times
Treasury pressuring mortgage firms to modify loans USA Today
Treasury to meet with mortgage servicers Reuters
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Be willing to shop amongst the different lenders and to negotiate a beneficial deal If you follow these steps finding a good mortgage refinance lender will be much easier
dunnar.com
Blake
hu, 10 Dec 2009 14:50:50 GM
Shop around don't take the first offer that comes your way, an advert for a . mortgage. rate may be enticing to you, but a little research and comparing the deal against others on the market may save you money. ...
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