andropolise asked:


Thank you for your feedback. In response, it is my ex husband. He was granted full ownership of the house and everything inside (I did not care to contest), and he’s been good enough to keep the payments current, but he refuses to re-finance, and there is nothing in the divorce papers stipulating that he HAS to do anything. I was trusting enough to believe I could get through a divorce without a lawyer (definitely learned my lesson); now the only way to make him take action is to re-open our papers, and I don’t have the money for that. I simply want to know if my mistake and his obstinance will keep me from ever owning property.
Thanks again for the feedback.

Manuela

Johnny asked:


“On Friday, the Fed’s move to cut its discount rate by 50 basis points to 5.75% was seen as an attempt to help distressed banks borrow money”

I have read so many news articles about banks getting lower rates (like over-night lending to other banks) but what types of loans do they effect?

1) Will ARM mortages adjust lower?
2) Will traditional 30-yr mortgages fall? If so, to what APR?
3) Will my student loans change?
4) Will credit card companies be giving better interest rates?
5) Will the interest rate on my online savings account go down?

Sneaky Redirects

dasielady asked:


I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, and a 5-year Balloon for 17% of the value, and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender.

I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %.

If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down?

What are your thoughts?

Thanks!

Sneaky Redirects