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

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

Lisa E asked:


Thank you for the information. My loan is for a fixed 30 year loan. I have had the home for almost 5 years. I have refinanced already 1 time, to get the 8% rate down to 6.2%. I only own currently $70,000. Help!

Walker

INDEBT2my ears asked:


We would like to sell our house, we have grown out of it. We do not have 20% to put down on another.

Bonnie

dancerv085 asked:


i am really interested in lowerin my rate and is my house has accrued equity i will like to take some out….. Please Advice

Felton

ohio_state98 asked:


Does anyone know where I can find out the current mortgage rate averages for my geographic area? I’m looking at possibly refinancing and want to know if it would be worthwhile. Also, can I expect any costs when trying to refinance?

Jill