Reverse Mortgage

Ed S asked: A relative in Ohio missed a few payments on her house and narrowly missed a forced foreclosure auction. I’d like to bail her out somewhat by taking over her mortgage from the existing mortgage company. She would then be making payments to me instead of them, and I’d be a LOT more [...]

jimramsey asked: I’m trying to decide whether to refinance now or to wait and see if rates will drop over the next year. Does anyone have any thoughts about which direction rates will be going? I’ve heard from some people that rates will rise due to the bank closures (which means less supply) and someone [...]

Todd S asked: 2 mortgages on the primary home that will remain in good standing (no late payments). The 2nd mortgage is with the same lender as the investment house. If the investment house forecloses with negative equity, will the first home be in jeopardy?Website content

Jill asked: I signed up for fixed rate which isn’t due to expire for a couple of years , can i get out of it before it`s due and will there be a fee? I don`t want to pay it off i just want to change to a cheaper one now that the mortgage rate [...]

Smiley asked: This is puzzling to me considering the economy and people’s need to refinance. You would think that the rates would drop or remain lower in order to encourage more buyers to enter the marketplace. So, why have average rates jumped from 5.75 to 6.50 over the last month? Will they drop back during [...]

my brain hurts asked: Do the 2 companies duke it out? Or does the former homeowner have to strike a deal with the company that held the second mortgage?Content for WordPress

jpn72 asked: Currently my ARM has rocketed to 7.3% and I have PMI to boot. At what point is it, or is it not, viable to switch to a fixed rate option somewhere in the 6% range. My refinance loan ammount would be approx 400K.Content – Members-Only Content for WordPress

mandy608 asked: My husband and I are looking into refinancing to consolidate our debts, it’ll pay our credit cards, car payment etc…the lower monthly payment sounds great but I’m afraid it’ll be more trouble than it’s worth. Does anyone have any tips, suggestions, questions we should make sure we know before we say yes?

deedee asked: Current rate of ARM interest is 5.125%. Would it better to go for 6.75% mortgage refinance at no closing costs, if I am planning to live in the same house for next 7 to 10 years?

Claudio F asked: I want to refinance my ARM to a fixed rate mortgage, what are the steps to take? I have $67,934 mortgage+ $22,000 home equity loan=$89,934. I want to pay it off in 15-22 years. My credit score is 707. The house is worth only $75k now. We want to stay in the [...]