Archive for June, 2008

Why do mortgage rates go UP when Feds cut rates? »

Cutman asked: When the Feds cut rates, short term debt like credit cards and HELOCs go down. But why do mortgage rates increase?Website content

2nd Home is it better to get an equity Loan to purchase or a 1st mortgage? »

helenta35 asked: We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes with land in that area for $175k. Is it better to get a home equity for the full cost of the Beach home plus any [...]

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 asked: 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?Website content

How hard to find work as a mortgage broker w/no experience? »

Me! asked: I am thinking about becoming a mortgage broker, but have no experience. If I took some classes and got a license, how hard would it be for me to find work? I live in Texas…Content – Members-Only Content for WordPress

Does the amount of loan from a reverse mortgage depend upon the equity in the home? »

datha asked: Can I get a loan based on age and the value of my house even if I do not have a lot of equity?Content – Members-Only Content for WordPress

Can the 2nd mortgage company sue me for deficiency upon foreclosure? »

cooluni asked: I am in the process of foreclosing my house along with 2 rental homes in AZ. I understand that the anti deficiency law protects my assets. However, can and will the 2nd mortgage company sue me or put a lien on my other property/asset for the deficiency? Is there anyway to protect myself?Content

Is clearing the home loan a better option or should I go with the regular EMIs for the entire tenure ? »

Itsme asked: I already have a home loan with ICICI on a floating interest rate. I’am looking for another loan.Should I clear this loan first to avail another loan or should I continue paying the EMIs for the entire tenure(This is a huge amount I will be paying by the end). “Clearing a home loan” [...]

Why is it better for a buyer to close on a home mortgage at the end of the month? »

brainiac5 asked: I know money is saved by virtue of not having to pay certain interest / tax fees, but what are they specifically? What is it called on the itemized closing sheet?Website content

Can mortgage insurance on a new home mortgage be deducted? »

Speedracer asked: Home was purchased in June 2006. Just curious to know. Thanks in advance for any help.Content for WordPress

Is there an alternative to a home mortgage? »

colorhappy asked: We would like to live debt free as much as possible.Website content

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