Mike questioned: Let me be specific: I have 130,000$ cash, but am unemployed. I received this money as an inheritance. I intend to buy a house with several floors and tenants. Is a mortgage possible in my case? My intention is to at first keep payments going for the mortgage through the revenue generated by the tenants. This will give me the time to get a new job. Would a bank…

BC questioned: I own a home that is paid off but want 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 am I limited to a home equity loan. I’m not interested in HELOC’s.

Yumes questioned: What are some tips on finding a excellent mortgage broker?

Much like a broker can help you find the best companies and finance, etc, a mortgage advisor can also help you find the best option for you. He or she can also help you in the application process, and offers an brilliant service for anyone buying a house. The main difference between a mortgage advisor and broker is the training and expertise needed to do each job.As well as the…

With so many variations of mortgages on the market it can be daunting for first time buyers and could mean they choose a mortgage which isn’t suited for them.A tracker mortgage is worthwhile inquiring about with the current market conditions. A tracker mortgage is a variable rate mortgage; the interest on the mortgage follows the Bank of England base rate. More often than not interest rates are set higher than…

Josh L questioned: What is used to calculate the 31% for mortgage restructuring?
My actual mortgage payment is less than 31% of my monthly income, but, my mortgage plus escrow is greater than 31%. Which counts?

TM W questioned: So Far this year I have paid over fifteen thousand dollars in interest on my mortgage. Is there a certain percentage that is refunded when I do my taxes? Also, are closing costs refundable too?

It’s a challenge trying to keep track of the events of the current sub prime mortgage crisis. Compare it to an over laden cart gathering momentum on a steep and rocky slope – now it’s built up so much speed, it’s passing by as a blur.When looking at the causes of this crisis we’re hit with catch phrases such as Banking Liquidity Crisis, Mortgage Backed Securities, Interest-only Loans, Sub prime…

You’ve chose to refinance or buy that new home and now it’s time to call a bank or mortgage company to apply for a mortgage. How do you know you’ll be getting the mortgage that will be the right one for you? How do you know you’re dealing with a excellent honest person? Asking these 10 questions will separate the wheat from the chaff in a rush!Question 1. Will this…

Cindy16 questioned: I am looking into different mortgage.
Get very confused by so many different kinds of them.
What are the differences?

If we are plotting to get a 300K mortgage, and plotting to stay in the house for at least 5 years.
What mortgage might be excellent for us?

30yr fix
5/1
7/1
why there is 5/1 ARM?? What is the different between all these?

thank u