I have a mortgage rate of 7.1%, I have started the process of re-financing and have been offered a 5.6% loan. It will cost me 2,500 in closing fees, but save me 100/month on the remaining 29 years of my loan so well worth it. I assume this is typical so my first question of course is to make sure this is a good deal. My second is I will need to get a re-appraisal of my house. I’ve done a ton of upgrades to my house, tiling a shower and remodeling the whole bathroom, new heating and cooling system, new appliances, new sewer service line (which of course can’t be seen). I’ve been told if I get re-appraised I risk higher insurance premiums and higher property tax. Is this true? If it is is it worth it? Maybe the economy lowers my house value as it is and should I really even worry about all this?
Hello, here is the deal, I owe money on my mortgage, but I want to move to another city. I have a guy who loves the house, but he wants to do the owner financing. I figured I could sell it to him for a higher price than what I owe on it and charge him a yearly interest. I have explained to him that there is a lien on the house and he is fine with it. Basically I see this as better than foreclosing if I can no longer live there and this way he gets to keep it if he finishes paying me the full term of the loan which will probably be 15 years.
By the time he is done paying me I would have full ownership of the house and the title. Then I could transfer it to his name after he finished paying me. I am asking him for a down payment and his monthly payment will include the taxes, and any insurance I pay that way I am covered. So what can I say in the contract that I create, or do I need to get some legal paperwork? Help:)
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So I just obtained my credit report and checked my credit score through Experian. I am a little confused.
First off, my report said that 10 of my 11 credit items are in good standing so I was very happy about that. The one that wasn’t was b/c I stupidly cancelled a credit card when I was younger and didn’t know any better.
I am confused b/c I paid $ 6 to get my actual credit score and it is a 799 out of 990. As I understand the different credit houses have different ways of calculating your score so I know it’s all subjective. However, I am concerned b/c it said I am in the “Prime” credit category and not Prime Plus or Super Prime which I thought I might be. The next thing is my credit rating ranks higher than only 61% of US consumers.
I don’t have any real debt, only student loans, no car loans, no mortgage. Can someone break down my score for me?
Ex. 165 000 mortgage, and stayed 24 years, the proportion of 6125. The monthly P-I 1034.00. If I did not pay 258.50 weekly, to ensure that the final payment received by the bank first, how will this impact my mortgage? It can be applied to loans or other? [Wpramazon Asin = "B00096ZEVK"]
I’m trying to figure out how much house I can afford. I’ve been putting numbers into mortgage calculators and was curious what exactly counts into “total monthly debt.” Is it just credit cards and loans or is it also obligations such as cell phone, tv, utilities, etc.?
First e-mail him at 3. Via e-mail me at 5, and said he was “done” and call me in the afternoon. 6, sent him an email. He said he would come back after lunch. Is now the 13th, and it was not me it was not responsible gekontak.Is, or Is it normal for mortgages men?
On our Good Faith Estimate we don’t have any points and origination fees, but recently our Mortgage company has decided to add them into our loan, they said that they made a mistake. Can they do like that?
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Own two other homes, one in Montgomery Co, MD, and a rental property in Fairfax, VA. I work in Fairfax, VA as an IT Consultant within 20 miles of where aiming to purchase. I am able to verify assets and income at $ 400,000 per year and have a credit score of 720. Looking to purchase a townhouse in the $ 350,000 range (conforming mortgage).
Mortgage needs to have a reasonable APR (less than 8%) ie: cannot likely use hard money transaction/s, or unsecured credit to finance.
Thanks!
CNN’s posted video of McCain blaming Obama for Fannie Mae and Connie Macks failure as he did nothing about his legislation! The bill McCain is talking about (S190), he was a sponser in the 109th Congress. Actually he is to blame!
McCain is LYING again to America and I am tired of videos that are total lies.
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act …It Died in a Republican Congress in Committee! Obama never had a chance to vote on it!
The bill says:
“Federal Housing Enterprise Regulatory Reform Act of 2005 – Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish:
(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac);”
understand what the bill said?:
“1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac)”
This bill was transferring any remaining oversight FROM the government TO an INDEPENDENT! That meant it had NO FEDERAL OVERSIGHT AT ALL!
Talk about fibbing. Read the bill!
No treading. It is a bill McCain cosponsered and then blamed Obama for not supporting it. The bill never made it out of committee in a Republican Congress, ergo Obama could not vote on it!
“The Bill died in the Committee on Banking, Housing, and Urban Affairs….the Chairman of the Committee is Chris Dodd” Actually the bill did die in committee but if you read the question it died in the REPUBLICAN 109th Congress and Chris Doss WAS NOT the chairman, a REPUBLICAN WAS!
**REPRINT** Paine, Willis Seaver, 1848-1927. The laws of the state of New York relating to banks, banking, trust companies, loan, mortgage and safe deposit corporations Also the National Bank Act and cognate United States statutes. by Willis S. Paine. Rochest**REPRINT**
My husband and I are thinking of buying our first home using his VA loan benefit. Our friends used theirs in Jan 2009 and they received 5.5% interest rate, they have really great credit and we dont, my husbands score is 635. When I called around today (i called 6 places mortgage companies and banks) I was told the VA interest rate has gone up, 2 banks quoted me 6%, 3 said 6.5% and another said 6.75%%.. These numbers have nothing to do with credit as I never provided any info for them, only asked what the current VA mortgage rates were… I thought rates were dropping…Im confused now
Does anyone have experience with this sort of thing. I am currently in the military. I have a credit score of 696. I am buying my first home so I am thinking of going VA. Really I am not sure yet if that is best. I want to purchase a house at 146,000. What do you think or advice you may have??
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