Can I still apply for another mortgage loan, while having another under my name?

Posted January 12th, 2010

CP asked: Hi, I need some advice. I purchased a house three years ago for my parents/family, under my name, due to me having a better credit score(parents had their credit ruined from a previous loan). Now, my parents are completely paying off the mortage every month, and now I decided to purchase my own [...]

should i refinance my second loan?

Posted December 31st, 2009

anthony asked: my first loan is 300k i have 27 years left at 5.75 fixed.
my second mortage is 53k its a 15/30 balloon at 8.6% fixed. my min. payment is 459 and in 15 years i will owe 35k.
my house will appraise for about 390-415k maybe more.
i can get a line [...]

Pay off mortage early?

Posted December 25th, 2009

Jobsite asked: I have a 15 year fixed rate mortage at 7.5% that I have about 4 years left on. My balance is $23,000 and over this time I will have paid $3,700 in interest. Should I pay it off? Seems to me that leaving the $23,000 in the bank even at a minimal [...]

is it a good idea to consolidate your debts?

Posted December 13th, 2009

Paco asked: I have a car payment and a personal loan payment, im in the process of buying a house and im thinking on consolidating all my debts including the mortage payment, is it a good decision?Keith

Should I refinance my ARM into a fixed loan even if it means a higher rate/payment?

Posted October 16th, 2009

great_and_mighty_adam_levine asked: I have an interest-only ARM that I am currently paying 3.875% on, and indexes in August 2010.
On 8/2010, I need to pay principal and interest payments of 1 year LIBOR + 2.25%.
At the current time, LIBOR is at 1.5%, so that would be 3.75% – a really good rate. Of course, LIBOR [...]

Can you convert a 2nd mortgage to a personal unsecured loan?

Posted September 13th, 2009

Kim 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 [...]

modification of mortage loag?

Posted September 8th, 2009

Y 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 [...]

interest only loan is the total amount deductible?

Posted August 19th, 2009

Teresa B asked: regqarding a trustee sale, can the lender keep you from claiming the interest paid on mortageAnnette

Should I consolidate a HELOC loan and 1st mortgage?

Posted August 7th, 2009

SoCal G asked: My house is valued at about $550k. I have a mortage of $172k at 5.85%. I have a HELOC balance of $27k at 7.5% (and rising). It will be almost impossible to pay off the HELOC anytime soon. Does it make any sense to combine the two and [...]

If receiving unemployment, does it hurt chances for a mortage loan someday for a home?

Posted July 28th, 2009

Reinventingmyself asked: Does being on unemployment hurt your credit and chances of having a home mortage loan someday? Does it have anything to do with your credit?Marc