What is the Benefit for a seller of home to want the closing rolled into the mortage?


Question by tomwilla: What is the Benefit for a seller of home to want the closing rolled into the mortage?
We are buying a house the seller wants the closing was rolled in to our mortage, I understand how this could help the buyer if they do not have the money to put up front. But how would this help the seller?

Best answer:

Answer by Ruby
nothing really. it just assures him that the deal will push through, knowing that the folded costs are rolled into the loan, the seller does not have to worry at closing that the buyer will emanate with no check or money at all



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Q&A: Refinance mortgage if behind on payments?


Question by fin73: Refinance mortgage if behind on payments?
I lost my job and was out of work for seven months. I got behind on my mortage payments and am on a pay plan at the bank.Will they let me refinance? I only owned the home for about two years? What is reconfirming your lend intend? Please help!

Best answer:

Answer by Pojo
Forget the moron who answered right before me, he or she tin not even read.If your credit is hot over this your refi will be sky luxuriously interest rates even if you can get a refi.



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Is it normal for a mortage company to want to look at income taxes and work sheets?


Question by Venshore: Is it normal for a mortage company to want to look at income taxes and work sheets?
The mortage broker asked for our federal tax work sheets and proof we paid taxes for 2010. Red flags are coming up because he wants us to scan them to him with our ss numbers and date of birth on the sheets?

Best answer:

Answer by anonimitie
None of what you’ve described is retired of the ordinary.



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Q&A: what is the best mortgage in order to refinance ?


Question by im M: what is the best mortgage in order to refinance ?
i have lets bad to ok credit.i tried to do an application with my current mortgage but they told me i couldnt do it because something about percents.and they also told me that if they couldnt get me approved no other mortage could ?? who knows if this is true or not.but i was wondering whats a good mortgage to refinance.my current mortgage is household finance,.

Best answer:

Answer by Reapor-ted!
the percent they were speaking of was either your DTI (debt to income) or your LTV (loan to value) ratio. if either is too high then there’s no point in doing a refi since you really wouldn’t gain any headway from doing it. this coupled with your less than perfect credit is probably why you weren;t approved for the refi. also, were you using a lender or a broker? lenders have very few plans to service you whereas brokers have dozens of different plans to suite you.



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Is it possible to refinance your home in the middle of a remodel?


Question by jhousnet: Is it possible to refinance your home in the middle of a remodel?
I have a 1st mortage and a HELOC and unfortunatly have run out of funds to complete my intercommunicated (maxed out the HELOC and Credit Cards). I’ve got less than $ 10,000 worth of served left on the house and would like to refi, but the broker and lender I’m working with told me that I have to consummate certain things before I can refi (ex: countertops in the kitchen, trim work and some drywall work).I thought I’ve heard of populating refinancing in the middle of projects. Am I wrong?

Best answer:

Answer by stepup1895
yes, but you must show them the plans and models of what it will stare like and get a real estate agent to give you an idea of what it could be deserving on the open market



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