Tink


Is it possible in our current market? If so, can it be in one loan? Say the home is purchased for $120k, can the buyer ask for another $20k for personal debt? Does this have to be done with a home equity loan?

Ana C


Am applying for a mortgage loan and have two school loans already on my credit report but specify one is not in repayment and second is deferred. However, the loan application is requesting all expenses listed on my credit report. Are these loans not in repayment included in my expense ratio?

jiggywalker2008


If you wanted to build your own house, would you apply for a construction loan? What are the terms of a construction loan? How hard is it to get one?

ronidl76


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?

E


We have very good credit (my husband and I are each 750+), and need to refinance our home. When we purchased, my husband was newly self-employed and had to get a no-doc loan, so it isn’t a very good loan to have. There are so many radio commercials and other ads for mortgage refinancing. How do we pick one? We thought about the LendingTree.com or themortgagestore.net. Any advice?

homeless


I was recently pre-qualified for a loan and the loan officer didn’t mention any other loan programs except for an FHA? I had to ask about the first time buyers program. I’m just wondering what are some other loan programs and where could I find out about them.

MMK


I live in Florida and have a 7 year ARM, and I was interested in re-financing to a 30 YR fixed rate. However, my house is now worth $90K LESS than the outstanding principal amount on my mortgage, so of course, my bank will not let me re-finance.

What are my options, if any? Is there a gov’t program or any new law that will let me refinance based on the new value of the house?

Stoppin Thewar


I want to open up some discussion here. You see, I have reason to believe that the current mortgage crisis was either intentionally planned or a colossal mistake the likes of the stock market crash. Allow me to elaborate:

Years back, a new and wonderful thing came about in the world of mortgages, the “refi”, which we have come to know as the refinance. For those of you out there familiar with this, people where allowed to refinance into adjustable rate mortgages and get cash out against equity. This program was signed off on by the powers that be that oversee the mortgage and banking industry, a key player is the Federal Reserve Board (to be referred to as FRB forward)
Knowing full well that the FRB was going to tinker with the rates down the road, they locked an unsuspecting public into mortgages that not only extended the amount of time they are paying for it, but ultimately added on thousands and thousands of additional interest, some of these folks have had adjusted interest to the point that they loose the house to foreclosure.

The increase in base gas prices has driven the cost of everything up, allowing less spend able income to through at interest.

The bottom line is who is this effecting? FAMILIES who are working themselves to the bone and loosing their homes, which is only going to mean more troubles later as they go into later life with no equity, forced to rely on a social security system that is far from adequate and less than appropriate.
What I am getting to, is these couple of points here and there the FRB threw at the public knowing darn good and well that the 5 year readjustment period for the refinancing mortgages coming up was, well, dare I say it would have taken forethought, and therefore malice against the poor, to intentionally put huge amounts of property back on the market for far less than inflated values, only to get them financed with some other person, just compounding the interest that is being made from the suffering of the hard working Americans.

THANKS CONGRESS FOR NOT CARING!!! Congress is so wrapped up in foreign affairs (which is the presidents job) that they are completely ignoring a domestic crisis. Too busy running for office I imagine…

Personally, I think interest should be made illegal, and that would be the end of it.

What do you think?

Jak K


By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land?
Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?

cleo


I am 1 month behind on my mortgage and they have cut my work hours. I send a letter to mortgage company to see if i could get modification and the told me NO. Can any one help with a place that would help with the mortgage payments. I cannot refinance because of my income.
Also forgot to state I had a 2nd job but because of my health i could not keep it worked 2nd job for 4 months