USA Mortgages

I’d like my mortgage paid, a new car, and free healthcare. And all the money back that I lost in my 401K.

Is there anyone that believes these people were there by accident? Or that Obama didn’t know they were going to be there? This was another of the many staged theatrical acts that Obama has orchestrated for effect.

When Joe the Plumber asked a question the media spent the next week investigating every aspect of his life? Will they do the same for these two?

EDIT: Julio is 19 years old and has been working at McDonald’s for 4 1/2 years . That would mean he had to start working at McDs either at 14 (illegal) or immediately after his 15th birthday and he is very close to 20 now.

Henrietta has been homeless for over a year living in a truck. 12 months ago, unemployment was very low and the housing market was just beginning to slump. What is the story that we aren’t hearing?

Our pymts increased $1,300.00 per month. Our taxes are approx $4,000.00 per year. We were past due one year when the loan was sold to another lender. Aurora Mortage Co. Thank you very much for your help

I’m guessing that you have a adjustable rate mortgage. I can’t see your taxes and insurance going up that much.

ASK THEM WHY THERE WAS THE HUGE INCREASE. Or check your statement.

I live in MN and am looking to buy my first home. What are the BEST companies to get a mortgage through?
Experience only please, I don’t want a list of websites you found by googling.

You owe it to yourself to consider Minnesota Housings program:

http://www.mnhousing.gov/

These programs are almost always the best for first time home buyers. There will be a list of lenders who offer it.

Study the program and you will know what you are asking for. There shouldn’t be any rate competition. The fees are going to be reasonable, etc.

See if you recognize any of your local banks on the lender list and go sit down and talk to them to see if it would be a good fit for your needs.

The Ohio bond money program is what we use. The have down payment assistance grants and affordable 2nds and a variety of programs to choose from.

Check it out and good luck.

I see real estate listings in Detroit,MI with something about land contracts? What are they? Is it true in Detroit that you can buy a house and pay more for the property taxes than your mortgage would be? I saw a home in Detroit for $15000 with home warranty. Here in CT you can’t buy a home in the North End of Hartford,CT even if it is burned out crack house in Gangland.

"Land Contract" is a seller financing term. The seller retains ownership until the last payment is made.

My husband and I want to apply together for a mortgage, his credit score is excellent, mine is non-existent since I have been in the US for only 3 years and have used credit cards related to my husband’s account only. Is there still a way for me to be on the mortgage?
Will my income be considered as part of our assets when we apply?

yes you will need a social security card first.
FHA allows non-scoring borrowers but the rates might not be as well as having a excellent credit score.
this also depends on how much you want to put down, and your income.

I am a very ethical mortgage consultant who wants to bring more business to my door (can do business in NC, PA, MD, if it helps). I’m looking for cost-effective ways for me to market my business – true marketing ideas. If you have a unique suggestion to advertise my business, I’d like to hear it. Please be specific. thank you!

Make an alliance with a title insurance agency.

I just bought a home in Ma, for 340,000 I put down 1,000 for the realotor to hold the home, had my home inspection done, and gave them an additional 20,000 check to go towards the mortgage. Now my question is when will they cash the 20,000 check, the day the papers are signed, the closing day, or when

The check has already been deposited into the title company’s client trust account, in all probability. When the loan closes (records) the title company will transfer the funds to the seller.

We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn’t as secure. What are the specific down-sides to this?

Go thru a Title Company for the closing and have them prepare a amoritization schedule for you …..

I am relocating to Houston next month for a new position with my employer. My current townhome has a 10 yr mortgage, which I would have 5 more years to pay on it. I am trying to decide if I should hold on to it for 5 years and try to rent it out, or just sell it. I live in IL in the Naperville district, so its a nice area. But I am worried about all of the new home constructions around me and since it is a buyer market now, will it be harder to rent out?I have never rented out before and do not know what to do. I have been approved for a townhome in TX based on keeping the 1st home and financially, I could pay for both, but was not sure if that is a wise move. Maybe renting in TX would be better. I would prefer to at least have some rent coming in for the IL home to pay part of the 1st mortgage if I should keep it. What do you think?

First off great move on a ten year mortgage. you are one of the few that truly are in good position with there house.

If you could swing a renter that covers the IL. mortgage do so, even if you just break even or make just a little just save it for repairers taxes etc. In five years you have a cash cow, or golden goose, Great job there.

Now for the Move the Houston may be you should rent till you get to know the area, also hang low for the price drops, I think that for the most part the home price are going to drop throw the floor, the reason for this is the dishonest buying selling practice used by Realtors. This is out lines on this web site and I think that the maket is relay over inflated due to bad information.

http://www.breakingbubble.com/index.htm

Also just hanging in TX. you may not like it there and move back or some were els, why get locked in till you know you like it there are want to plant some roots.

Best of luck

What happens in a few years? Does the 2nd trust deed become due and payable (balloon payment) or does the interest rate increase?

If yes, then you would be sitting on a ticking time bomb. There is a good chance that in 3-5 years you will not be able to refinance. That is what’s happening today to people that purchased their home a few years ago. They believed that would be able to refinance because of the appreciation of their property. Instead, property values went down, they didn’t have any equity (most owed more than the property was worth) and there wasn’t any way possible for them to refi.

The result was, either they had a balloon payment that they couldn’t pay off or their month house payment skyrocketed to an amount they couldn’t afford. Hence, they lost their homes to foreclosure.