Archive for the ‘Mortgage FAQ’ Category
How long will mortgage interest rates continue to drop?
nmlady20022002 questioned:
I am going to re-finance my interest only mortgage and need suggestions on when to lock in an interest rate. How long will they continue to drop?
I am going to re-finance my interest only mortgage and need suggestions on when to lock in an interest rate. How long will they continue to drop?
How do you subordinate a second mortgage?
Richi questioned:
I am trying to help my client refi his first mortgage, but in order to do that I have to subordinate his second mortgage. The lender that I’m trying to sub is Chase. Any help would be greatly appreciated.
I am trying to help my client refi his first mortgage, but in order to do that I have to subordinate his second mortgage. The lender that I’m trying to sub is Chase. Any help would be greatly appreciated.
Can you get a mortgage after ALMOST foreclosing on your home?
rpost52 questioned:
I have a friend who got into some distress paying his mortgage when his wife went on unpaid maternity leave. They got behind on their mortgage and finished up going into foreclosure on their house.
I have a friend who got into some distress paying his mortgage when his wife went on unpaid maternity leave. They got behind on their mortgage and finished up going into foreclosure on their house.
They were able to scrape up the money they needed to pay it off, but they are still pretty strapped and 1 month behind on their mortgage.
The question is, they want to sell their house…
I just took out my first mortgage on a home. How long do I have to wait before I can refi for a lower rate?
Brice questioned:
With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year?
With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year?
Can our 2nd mortgage company attach our wages once our home is sold as a short sale?
TAMMY O questioned:
Our 2nd mortgage company is suing us for $25,000 (the balance on our 2nd after they signed off the lien for the small sale). They have submitted paperwork to attach 25% of our wages until it is paid off? Is their any legal way out of this?
Our 2nd mortgage company is suing us for $25,000 (the balance on our 2nd after they signed off the lien for the small sale). They have submitted paperwork to attach 25% of our wages until it is paid off? Is their any legal way out of this?
How do I get a late mortgage payment off of my credit report?
Kara questioned:
How do I get a late mortgage payment off of my credit report? I mean I’m really current on my mortgage now. I want this off of my report. Thanks
How do I get a late mortgage payment off of my credit report? I mean I’m really current on my mortgage now. I want this off of my report. Thanks
How do I get the best deal on a mortgage? What kind of questions should I be asking the mortgage broker?
sherie questioned:
My partner and I are first time home buyers. We have saved nearly 20% of the property and both have secure well paying jobs. Unfortunately we do not know much about mortgages and want to get the best deal possible. Should we see more than on broker? Should we get our own mortgage quotes as well? Do we have to pay trailing commissions?
My partner and I are first time home buyers. We have saved nearly 20% of the property and both have secure well paying jobs. Unfortunately we do not know much about mortgages and want to get the best deal possible. Should we see more than on broker? Should we get our own mortgage quotes as well? Do we have to pay trailing commissions?
What is the difference between a mortgage APR and Interest Rate?
Olivia questioned:
My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer’s, we were unaware of it. We only knew about the Interest Rate. Thanks for…
My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer’s, we were unaware of it. We only knew about the Interest Rate. Thanks for…
