06 January 2009 01:45
Mortgage Points: What's the difference between taking points and just putting more $$ down?
yodadoe asked: I’m pretty new to all this crap. If I choose to take a higher number of “mortgage points,” I reduce my interest rate. But I have to pay for that at closing, which reduces the amount I can put down. So what’...
How much interest rate would I get on my mortgage loan and how much would I pay monthly given my situation?
doesnotexist1 asked: I am a 24yo med student in Chicago looking to buy a condominium. As a student, I have no steady income but do have around $30,000 available for a 10% downpayment. My credit score is 760. Can I get a mortgage with a reasonab...
What is a 75/25 mortgage and how does it work? Would I be making 2 mortgage payments a month?
Aqua asked: My broker is suggesting a 75/25 mortgage which he says is good because you do not have to pay mortgage insurance, but does anyone know other details about it? Thanks!gbrain.net
Why paying off mortgage instead of investing in the stock market?
Ron C asked: I’m confused. If a fixed mortgage is 7%, wouldn’t it be better to invest in the stock market for an average of 10% in the long run. In this case, I could have a tax deductable while gaining in the stock market. So, s...
What is the best way to get a good mortgage rate in California?
Jentleman asked: I have a friend who is buying a house. He is trying to get the best rate. There are mortgage brokers that are offering a rate that is 0.125% better than the banks. Right now, that is around 6.25% for a 30 year loan at 80% fi...
Mortgage ?
LifeLove asked: Can I cosign on a mortgage when I have no credit? As in no bad credit, no good credit?
I would be cosigner. Hubby is the major bread winner.
I have never had a credit card, but have paid my car insurance on time always, etc.
I w...
Has anyone ever heard of a mortgage lender declining a loan because the home has geo thermal ?
toots3320 asked: Three days before closing on our property, the lender decided that they would decline the loan as they noticed in the appraisal (that they had possession of for 5 weeks) that the home has geo-thermal. Our real estate agent and...
How do they determine your mortgage rate if you get a house with a friend? Do they average credit scores?
Ashley Z asked: How do they determine your mortgage rate if you are getting a house with a friend not a husband? Do they average both of your credit scores?gbrain.net
What happens if I lose my job before closing on a mortgage?
hrland asked: I’m pre-approved for a mortgage and looking for a house. We want to buy quickly because my company is probably about to be taken over. I still want to buy right now because I can make payments while I look for work, if I get...
How do I get a mortgage if I want to buy a foreclosure?
Tyler D asked: I would like to buy a foreclosed property from auction. I would need a mortgage to pay for the property. If I go through the bank how do I do this? I also do not have the 10% down that the county requires on auction day.gbrain.net
What was a bigger failure: deregulating energy companies, or deregulating the mortgage industry?
Steve asked: In the push to “get the government off our back” and “let the free market do its job,” Washington eliminated virtually all regulations on energy companies, and later did the same thing on mortgage providers ...
How long after a mortgage co sells your loan does the original mortg co have to keep your documents on file?
cali asked: I purchased my home in Dec’06 and now I want a copy of the appraisal that was done then. I asked for it upon closing in December & was told it was the property of the mortgage co, so I didn’t get it but was told th...
What are your thoughts on mortgage insurance?
Coco-bunny asked: I’m in the market for a house and read about mortgage insurance. Is it good to have and what the difference between that and homeowner’s insurance?gbrain.net
What benefits would a mortgage company have to delay the closing of a home sale?
amyann16 asked: We have been trying to purchase a home for the last 5 months. We are being told by the seller’s realtor that the seller’s mortgage company is not responding to their repeated attempts to finish the closing deal. Th...
Can a mortgage lender pursue an owner that is not on mortgage for a deficiency balance?
Pat asked: I purchased a residential investment property in Florida with my former boss. The mortgage is in his name only but I am also on the deed. He wants to let it go to foreclosure. Can the lender come after me for the deficiency balance. ...
How can I get my mortgage payment and principle lower when I am paying on time?
asked: Couple of my friends have their mortgage payment and principle lower by their lender because their can’t afford it any more and they stop paying. How can I do it when I am paying mine on time all the time?gbrain.net
How do I calculate the Mortgage Interest on a Rental Property?
Jessie M asked: I decided to rent my place out that I was living in to someone in October, 2006. When I calculate the Mortgage Interest for the rental do I just calculate the interest paid during October through December of 2006 since those ar...
What's the simplest way to calculate a mortgage?
veronicamars asked: I know these things are complicated and there are several different types of mortages and considerations. I’ve never bought property before and hope to buy my first place in 12 months. In order to do some basic resea...
How can I get a mortgage on a property bought at auction?
Panoulis asked: I would like to look into buying a property at auction as I am a first time buyer, unable to get a foot on the housing ladder. After looking into various Goverment schemes, my only other option is shared ownership.
I would like ...
How do Mortgage loan officers make their money?
Bri up asked: I’m getting a mortgage loan through a mortgage company but the guy that is giving me the loan seems a little bit to excited. How much money is he making off of the loan of 170,000 and what should I look out for?gbrain.net
Ethics and Mortgage Lending: What do you think is important?
CJKatl asked: If you had a chance to tell mortgage brokers, originators, lenders, and other professionals what you consider unethical, what would you tell them?
I am preparing a class on Ethics that will be offered to mortgage professionals thr...
What are the penalities for lying on a mortgage application?
fury1162 asked: I’d like to get a mortgage but I owned a rattlesnake once. What kind of trouble will I get in for lying on a mortgage application to cover this fact up?? Might it be okay if I say I owned one before I was 22 if they can&...
How exactly do 'interest only' mortgage loans work? When do I pay on the principle of such a loan?
ronidl76 asked: I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?gbrain.net
I have two question mortgage interest and the rebate check?
stephanie b asked: I have decided against itemizing because I get a better deduction with the standard deduction So….If I have to file a schedule B rather than a schedule A for my mortgage interest how can I do that. Im using tax slayer w...
What is the difference between a mortgage and a home equity loan?
BC asked: I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or ...
