Archive for house finance
Jun
30
I’m looking at buying a home, but have a $6,000 credit card debt to eliminate first?
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Many people are telling me that regardless of that $6,000, now’s the time to buy. My plan is to systematically pay off that card while saving at the same time to have an emergency reserve should push come to shove and I’m in a financial bind. I want to go into the home buying process with only my student loan debt to worry about. Outside of paying off the card in its entirety before purchasing a home, what other options do I have? With the market the way it is and my good credit score (730-ish, debt-to-income ratio around 10%), I’m sure there are options available to help me obtain a home faster.
I should make it known that:
1) I live with my folks who aren’t charging me rent.
2) I have an open to buy of $25,000 in credit.
3) I don’t consider myself in financial trouble. I have a 401K and a T-Rowe money market account I’m making continuous contributions to.
Jun
29
I am about to apply to assume a very small mortgage loan. I have great credit, no debt, and a very good/stable job.
I was about to make an appointment with a Wells Fargo rep, simply because that is the bank I always use and have been with since I was 16. However, I have no clue as to how reliable their loan department is, and I have no personal relationships with any of the consultants, so I have no idea who would be a good loan officer.
Like I said, its a small loan, so details don’t matter too much, my main concern is reliability, fiduciary, and specifically, confidentiality; the seller is related to me.
Any personal experiences would be great. I just have a feeling going with a large company like Wells Fargo, although reliable, wouldn’t give me the personal service a Loan Officer who is indepentant might. Thank you!
Jun
28
Know of any Mortgage Lenders who will approve someone who has below a 580 credit score?
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I am a first time home buyer looking to purchase within the next 3 months. With my lease expiring soon, I need to act fast. Your advice on a Lender would be helpful.
Jun
28
How can I up my credit score 10 points – FAST?
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Im trying to get a mortgage, and FHA loan and my credit score is on 570. I need a 580 score to qualify. I have opened to credit cards and have been paying them on time, they have helped my score a lot.Should I get a 3rd card? What else can I do, I need those 10 points fast. PLEASE HELP!!
Jun
27
Bank of America was quick to take stimulus money, but they are refusing to help homeowners! I need help fast!
Jun
25
why the american mortgage markets so deadly and contagious ?
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from US to Europe to Asia , share prices are falling so fast and so much , do you think american mortgage lenders are extremely irresponsible ?
Jun
24
What mortgage servicers will APPLY bi-weekly payments to the mortgage 26x/yr vs 12x/yr?
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Citimortgage only applies bi-weekly payments to the mortgage 12x/yr. Benefit is in the extra payment. I want true bi-weekly to reduce interest faster / payoff loan quicker. Anybody know a servicer that offers it ? I’m ready to refi over this !
I already pay extra towards principle. The difference is significant if the servicer accepts bi-weekly payments in addition to extra principle – the mortgage is paid off years earlier for no extra cash.
Jun
24
With the Fed’s decision to cut interest rates, I understand that banks will follow suit and lower interest rates. How fast will it take for these changes to go into place? At what point should people begin to investigate refinancing their mortgages and other loans where it will actually reflect the new rates?
Jun
23
Is paying your mortgage biweekly the smarter way to go?
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I heard it cuts the interest and you end up paying the loan down faster.
Anyone on this pay schedule?
Jun
22
whats the best way to sell my house FAST without losing too much money?
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i’m getting divorced and need to sell quickly before the mortgage company starts to foreclose.
Jun
17
I owe 37k on a home equity line of credit, and another 22k on a car loan. The interest rates on those loans arent that bad (7% and 8%) but I am paying a lot in interest every month. I have been putting the max (15%) of my paycheck into 401k. Does it make sense to reduce my 401k contribution to 1% (so I get the company match) so I can pay off loans faster?
Jun
16
How can I get a loan to start a home-based business if I have horrible credit?
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I have been given the opportunity to start a home-based business that will help me repair my finances and get back on track. Are there any programs out there for people with really really really bad credit? I do work full-time and am slowly paying off old debt, but would love to be able to pay it off faster and not kill myself in the process.
I have been given the opportunity to start a home-based business that will help me repair my finances and get back on track. Are there any programs out there for people with really really really bad credit? I do work full-time and am slowly paying off old debt, but would love to be able to pay it off faster and not kill myself in the process. And Prosper.com won’t work for me because my credit score is too low – I said it was horrible credit history. Also, I have no way of coming up with any good faith deposits or collateral of any kind.
Jun
13
we pay about 1500/month toward 6 cards but only pay a little above minimum for each. some cards have 3.99% or less intro rates. getting conflicting answers from brokers and family. any suggestions?
we pay about 1500/month toward 6 cards but only pay a little above minimum for each. some cards have 3.99% or less intro rates. getting conflicting answers from brokers and family. amortization tables show payoffs within 4-5 yrs for either home loans or paying $1500/month to cc. any suggestions which is better option? home loan with bank fees but tax break or no tax break with cards but no other start up fees.
Jun
10
I need to do something fast regarding keeping my home?
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I bought my home in 2004 & as with everyone else my home’s value has plummeted down to almost nothing. I have a conventional loan with a 1st and 2nd mortgage (ARM). The origional amount I paid was ok but then the mtg co added taxes and another insurance to the payment raising it to almost double on the 1st mtg. I havent paid he 2nd mtg since October and the 1st mtg since April. I’ve tried talking to my mortgage company re loan modification and they lowered the interest to 5.5% and my payments only went down $7.00. I bought my house for $72,000 and now owe $92,000 between the 1st and 2nd mortgage!! Other houses in my neighborhood are only selling for $3500.00 and $8000.00. I am a single parent I need direction, I work and I want to keep my house . Are there any suggstions?
Jun
09
Along with the constant pressure to sign papers as fast as we can, It also includes hiding valuable information such as:notifying the day of the signing that the extra 10k for the new housing was depleted.
constantly having small mistakes in the contract, etc.?
Basically, we wanna know who to contact about this horrible service that we got with them?… I dont know if it will help to complain to them now, since we dont wanna get screwed some more? and we already signed the paperwork.
Jun
06
Best mortage provider in the UK for fast payment of mortgage?
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I want to buy a house worth about £100,000 but i will have about £25,000 a year spare that i want to plough back into my mortgage to get it paid off really quickly to avoid paying too much intrest. i looked at www.oneaccount.com which seems the best as no penalties for early re-payments (in fact they encourage it!) but i want options. I think Virgin does a similar deal where you can pay off your mortgage really fast with no penalties. Any one done anything like this with a ‘one account’ like this and can advise me who to got to?
In response to ‘take two’…..i dont HAVE a mortgage lender thats what the whole question is about!
Jun
05
What happens when you dont have the money to pay your mortgage loan? Need cash fast? ?
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Jun
02
How can I repair my credit fast?
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I’ve been able to pay off all my debt, except my mortgage. I still have bad credit, it goes up a few points every three months. I was just wondering if there’s a legal way to rise it faster.
Jun
02
how can i improve my credit score fast?
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im trying to get a home loan but my balances on my credit cards are too high (i wasted all my money on dumb stuff) anyways i just paid half the balances on all of them so anyways i wanna try and improve my score so i can get a home loan by the end of november or atleast feb the lates how can i improve my score greatly by that time
May
30
If you have extra money to make extra payments, should you make extra payments on your current home mortgage or should you make extra payments on your land loan (plan to build a home on the land in the next 1-5 years). If one of the loans has a 1% higher interest rate, is this the one you should try to pay off faster?
