Reverse Mortgage

livill asked: Here in Houston,Texas. An Attorney that can help out since we don’t have much money to even afford and attorney I though they might me someone who can help out. The mortgage company is trying to screw us over and nothing gets resolved over the phone.

Sub-Zero asked: I have bad credit and bought a rundown property and fixed it up over time. I used my own money in financing the purchase of the property and have no mortgage. Is it possible for me to get an home equity loan for this property? its market value is around $120,000 and its [...]

vision3339 asked: Hi there, I need some quick help. I managed to get 2 options for mortgage rates- 1) Fixed 25 year for 3.74% for 4 years OR…. 2) variable of 2.45%, 25 years I know that if the economy gets better, variable might be dangerous. What do you guys suggest?

doctorkrawitz asked: My bank wants to use the 360/365 method to calculate mortgage interest: Rate ÷ 360 × Loan Balance = Per diem interest But some of my research (http://www.cuanswers.com/pdf/cb_ref/M-360-dayinterestcalc.pdf) indicates that the 360/365 method, while widely used for business loans, is not used for mortgages. Instead, commercial mortgages use the 360/post method, which although [...]

HandsomePrints asked: My mortgage rep told me that the amortization period you choose is not set in stone, and that at any time during the term you can decrease OR INCREASE the amortization period (which of course would impact your monthly payments). I was aware that you could pay off mortgages faster by doubling up [...]

katy asked: The seller will carry financing at 7.5% interest on a 20 year amortization on a 2 year balloon. The property is being offered CFD with 10% down. Is this a good deal – I’m not sure… The problem is that I can’t get a loan right now due to my credit score. Is [...]

umpman2003 asked: I’m trying to figure out how to calculate a monthly payment for a $150,000 loan with a 5.5% interest rate that is monthly. The loan is 30 years (360 months). What do I do? I understand what amortization is, it’s just confusing to calculate.

new_mommy asked: I’m from the Philippines and I want to understand the mechanics of a housing loan which is quite diff in the US. I have a 15 yr loan with a bank but my salary is quite enough to cover the monthly amortization if I restructure it to 5 years. Should I restructure or [...]

Bobs ur Uncle asked: I am on a variable rate due to commercial rentals, which are on the property where my residence is. The 14 acres is divided into 4 tracts. And my residence is on one tract with 1 rental cottage. How can I separate them so that I do not go under trying [...]

nikunjd05 asked: Is it possible to pay off the mortgage with an home equity loan if the APR is less than what I am paying right now? I understand that if I refinance, there are closing costs and for home equity loan, there are none, am I correct? What are the advantages and disadvantages of [...]