asked:


Friend has in home business, needs the space, but the mortgage is WAY more than her income. It’s a new home so no equity, poor credit. How can she reduce her payments? Any ideas welcome.
Friend has in home business, needs the space, but the mortgage is WAY more than her income. It’s a new home so no equity, poor credit. How can she reduce her payments? She is nearly 65, slight disability and VERY little social security. Any ideas welcome.

Luciano

Al asked:


I’m guessing the government takes over, but do they make millions and millions of people homeless when they call their loans and there is no way to repay ? I’m just imagining empty homes and people living in the streets, would it be less dramatic then that?

Celia

kdjohnskjohns asked:


A mortgage company want’s to finance just enough for the purchase the home. Is that standard practice or not?

Rosemarie

Eric R asked:


How much are the taxes for mortgage? does the bank finance 100% of the real state? could I rent it and get back 1% / month ?

In Brazil, the banks have several ways to protect themselves and they do not give credits to everyone, it’s hard to get a house, for example.

Karyn

Spaghetti asked:


I am currently with Citimortgage and I’m thinking about re-financing my condo.They do charge a one-time non-refundable processing fee of $635.00.Is that a decent price or are there better deals out there and what lenders don’t charge a closing fee (if any)? Any recommendations?

Gwen

KOBE 24 asked:


Why is it that every time the fed cuts, rates for home loans go up?

Wilton

Elliot asked:


Our mortgage broker is encouraging us to wait for the interest rates to fall again despite the fact that they have increased steadily for the past three weeks. Is there a monetary incentive for him to lock us in higher? We are paying 1 point for a better rate.

Cheri

mama bear27 asked:


I have an adj mortg rate, that’s set to renew in september, and with mortg rates being low right now, could it go lower than it is now? Right now it’s high, and that’s what my mortgage started with…not a low int rate.
one has a ARM(Libor index), and the other is a fixed rate.

Jerrold

Brian B asked:


I’ve been shopping for a low interest rate (30 year fixed). I have excellent credit but it doesn’t seem to help me much when I go into large local banks. It seems like they just run the basic numbers to make sure I qualify for a conforming loan. They then tell me their printed rate on their website. My experience with smaller mortgage companies is that they collect more information and they have quoted lower rates.

Is this typical?

Mathew

Tami M asked:


I am looking for an official govt sponsored site for the Federal Rescue program that is aimed at helping people in or close to foreclosure re-finance their mortgages.

Joe