philt1 asked:


My house was on the market for £119,000 and i accepted an offer at that price but was subject to a 7% vendor gifted deposit. This meant i would get £110,000.
Four weeks into the deal the buyers mortgage company have said the house is only worth £110,000 and will not lend the money as the house is not worth £119,000 and the surveyor came to this conclusion based on 2006 prices but the houses they compare against had no central heating and needed complete modernisation. My house is ready to move in to and needs no work at all.
The estate agent has now suggested I reduce to £110,000 and still gift the 7%, meaning i would need to find another £8000. Which i do not have. The buyers are a young couple and do not have any more available funds.
Does anybody have any suggestions?
Thanks for the answers.

Our buyers are first time buyers and it was the agents idea to accept the vendor gifted deposit and we were told there would be no problem and the valuation would be done and the mortgage was already in place (arranged by the estate agent for the couple). Its only now, 4 weeks from completion that the survey has come back with the lower valuation. Looked on a few sites and it says the average is £119,000 for this estate, however, other houses for sale on the estate are selling for the lower price and the ones priced higher are just sat stagnant on the market.
We do not want the sale to fall through and fee ouronly option is to some how try and find the extra money needed by increasing the mortgage of taking out a loan.

Danny A asked:


property
but i am self employed, i have a tie in fix rate deal of 6.4% which i want to reduce, is there anything i can do about this?

mazey1967 asked:


I bought my home 4 years ago, and it appraised at $101,000. I bought it through a mortgage company, on a 30 year loan. Now that I can afford to pay a little more I’d like to redo my loan, and add my car payment on with it on a 15 year loan. The problem is that the mortgage company had a stipulation that they got to do my 2nd and 3rd mortgage, which they want to charge thousands of dollars in fees to do. Can I go through my local bank and do a home equity loan using my house as collaterol, and pay of the mortgage company?

goofyjr2004 asked:


I heard a news about Federal goverment lowered mortgage rate by 0.5%, is it true? Who is qualified for this benefit?
We get our loan from a mortgage company.

lindsy asked:


Have a credit score of around 620-640. Past wage garnishment (a year ago) but paid off early. Past car repossession (reason for the garnishment.) Other small things charged-off. Only looking for a mortgage loan of $25K or less with $10K for down payment. With todays economy, is there any chance of finding a mortgage company? What kind of rates would I be looking at?

sandiedog1 asked:


I am a widow with imperfect credit and am getting remarried soon to a man with hardly any credit. So any suggestions would be greatly apprectiated.

ShirlD asked:


My mortgage company was bought out by another one. They have sent me a letter which allows me to choose what my new rate to based on: the CODI (Certificates of Deposit Index), or the Wachovia COSI, which is their Cost of Savings Index.

I can’t find any information online which compares these indexes, so I have no idea which would be best. Does anyone have information about this, and how to make an informed decision?

I am concerned that one or the other could wildly fluctuate separate from the market.

puoL asked:


We want a pre-approval letter, do we have to stay with the same mortgage company after we get the letter or can we switch? How do we know who to pick? You can’t know a person just from talking to them once on the phone!
I know that but what do you ask them to find out if they’re the right ones???????
the one we are thinking about is with century mortgage. any experience with them?

lankhai2006 asked:


I’m looking for fixed-rate morgage deals, and at present, some “smaller” companies seem to have better offers. For example, Bristol & West has very good deals. But do you think it is safe to choose this company?

Kelly D asked:


Have a credit score of around 620-640. Past wage garnishment (a year ago) but paid off early. Past car repossession (reason for the garnishment.) Other small things charged-off. Only looking for a mortgage loan of $25K or less with $10K for down payment. With todays economy, is there any chance of finding a mortgage company? What kind of rates would I be looking at?