Reverse Mortgage

Cookie On My Mind asked: We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We’re due to close on our new single family home August 10th and those closing costs are going to be higher than we [...]

thinkingabroad asked: I’m selling a rental house and will hold a $26,000 private second mortgage for the buyers. Will the government tax me on this as money I received at the closing? Even though it is just paper? Or will I pay captial gains on any amount above my basis only when I get the [...]

Boris asked: Hi, To buy new house I took HELOC against my old house which I planned to sell shortly to pay off HELOC. I could not sell my old house so I am using it as rental property now. I want to convert HELOC into fixed rate secondary mortgage. If I convert HELOC into [...]

Denise asked: I want to buy a house without a mortgage, just own the entire property, then are taxes still required? I haven’t found enough information on google on it. there must be some questions about it. 2,000$ / month is extremely a lot of money to tax for my own private home.?!?!Create a video [...]

GrantS asked: Since my mortgage company “American Home Mortgage” is in Chapter 11 them selfs, do you think they will pay the $150 and hire an attorney to go down to court and have the “automatic stay” lifted from my bankruptcy, so they can continue with the foreclosure on my home? I don’t think they [...]

Yahoo! Answers Law Enforcement asked: Wouldn’t those companies make more money if they allowed everyone to keep their house and just lower their payment to something more affordable? Not only would they still be getting some money it would help the mortgage crisis. Correct me if i’m wrong.Content

Betty H. asked: Would someone explain to me in plain English (think “Mortgages for Dummies” here) what is included in APR? I know what APR stands for and everything. What I’m interested in is what is included in the APR that brings my rate from something like 6.5 up to 6.7? That seems like a [...]

Mak asked: Bought home in October of 2006.Bought it with no money down. Did 80/20 Loan: 1st Loan 7.125% 2nd 10.5%. Interest only 5/ARM. Price was $584000 In the Los Angeles area. Bought Home below market value, houses around my area are selling for $650K and up.How soon can I refinance to a fixed rate [...]

Mike asked: I am buying a house on May 29th and have taken out my mortgage from Alliance and Leicester. I was just wondering if anyone knew if I would be expected to make a payment right away on completion day as soon as i get the money or if it will be the month [...]

Huynh T asked: foreclose the house. Will the mortgage companies go after her with the money her own ( she have some money in her bank). CA law. thanks she has money in different banks that is not the banks she has mortgage loan.Content