Have Mortgage Delinquencies Hit Rock Bottom?
Posted September 27th, 2009Lender411 asked: It is baffling just how many homeowners are going belly-up in their loans, especially considering that there are copious mechanisms in place to save those who are facing foreclosure or even see themselves nearing the road to foreclosure. The foregoing not withstanding, there is a school of thought that suggest that mortgage delinquencies [...]
Mortgages, True Costs Revealed – Higher Lending Charges
Posted September 26th, 2009Liam G asked: This is a fee levied by the lender if a considerable portion of the property’s value is borrowed. Lenders generally use this money to take out insurance to cover them if the borrower defaults on the mortgage.The exact amount charged will depend on the value of the property and how much is [...]
I’m on the title but not the mortgage how do i deal with a foreclosure?
Posted September 21st, 2009SoSmooth asked: I currently am living in a house in which my name is on the title, but not the mortgage. The mortage holder no longer resides in the residence (due to a peace order).The mortgage holder is currently in default of the loan, and the bank will begin foreclosing proceedings in January. What are [...]
Reverse Mortages are they clever or a scam?
Posted September 13th, 2009Paul Ritchie asked: In the last two years, the popularity of reverse mortgages has grown enormously.I was looking at some Australian statistics yesterday and in Australia, almost $900 million worth of loans written in 2008.The trend in Australia follows huge success that lenders have had with the concept in both the UK and USA..The trend [...]
Can you convert a 2nd mortgage to a personal unsecured loan?
Posted September 13th, 2009Kim D asked: I have a primary mortage of $180k ($1600/mo including prop. tax over 30 yrs), a 2nd mortage of 97k (850/mo over 20yrs), and another 2nd of 27k(400/mo over 7yrs) I have a house valued at 300-310k. My income is ~110k which nets me around 6k a month. My total credit card [...]
Can I get a home loan if I have bad credit and past debt?
Posted September 12th, 2009KellyR asked: Can I get approved for a home loan if I have bad credit and past debt that I haven’t paid off yet. My husband and I have some credit cards that has gone to collections. We are slowly paying off our debt but haven’t finished yet. We would really like to get a [...]
modification of mortage loag?
Posted September 8th, 2009Y S asked: My parents have two properties that they refianced approximately 5 years ago. They are the adjustable rate type loans that give you four options to choose a payment. My parents do not know how to read and write and the person tricted them by telling them its a fixed rate. Know they [...]
My Experian Credit Score is 644, my Equifax is 617. Which one is right?
Posted September 5th, 2009*~*Your Dream Come True*~* asked: I am getting married soon. My fiance and I have about the same credit scores. Which one is right for mine? Also, will it be hard to get a loan for mortage with our credit scores ranging 600-660?Laura
Is it difficult to get a mortage when?
Posted September 3rd, 2009Pretty D asked: both my boyfriend and I want to buy a house together does it matter if he has a loan out for 20 grand and I have no loans out. Will this affect our chances of getting a mortage?Antonio
Why are mortgage loan interest rates higher for fixed rate mortgages held for longer periods of time?
Posted September 2nd, 2009Esq asked: I am sorry if this sounds like a dumb question, but I don’t understand. For example, why are 30 year fixed mortgage rates the highest mortgage rates, vs say a 15, and why are 15 year fixed rate mortgages higher than adjustable rate mortgages ? It seems that lending institutions are taking greater [...]