I have a 5/1 ARM mortgage loan with 3 years until the interest only payment...
adjustable. I also have a HELOC. Together the loan amounts are more than what my house is worth now since the market has crashed. It was worth well above what we now owe on it just a year ago. My...
View ArticleShould a 72y/o widow w/no other assets sell home pay off reverse mortgage...
Home is paid off except for reverse mortgage. Home’s market value is more than enough to pay off reverse mortgage and have more than adequate income for life expectancy. Incoming search terms:can a...
View ArticleHow long until a foreclosure hits the market?
Our friends’ neighbor is going to foreclose on his house (he has been gone for almost 2 months and already has skipped town). It is early in the foreclosure process because he just received his 2nd...
View ArticleFor everyone out there that thinks rates are going to drop??!!?
A month ago we were able to quote commercial mortgages with excellent credit in the mid 5′s low 6′s, even though treasuries have actually dropped since then, money has gotten much scarcer so banks are...
View Articlepayoff mortgage or invest?
I have a $500,000 mortgage and the property is valued at $525,000 currently, i put $25,000 down, i have a deffered interest loan at 9.25% and am paying the minimum payment of 2.5% and taking the...
View ArticleShould I change my mortgage from an adjustable rate to a fixed rate?
I’m afraid my adjustable rate loan will continue to rise. Does anyone know what the market conditions are saying as far as interest rates? I’m thinking I might want to refinance to a fixed rate. The...
View ArticleWe are looking at buying a house with an FHA loan, our loan officer has said...
We are looking at buying a house with an FHA loan, our loan officer has said we need to put down at least 10% to get mortgage insurance. In today’s market is this actually, or is our loan officer just...
View ArticleWhat are the benefits of refinancing a reverse mortgage?
If someone has a reverse and wants to “re-modify” it at today’s rates how can this help in today’s crazy market? The post What are the benefits of refinancing a reverse mortgage? appeared first on...
View ArticleHow soon can you refinance if your property is on the market for sale?
do you need to take your house off the market and wait 30 days in order to refinance? Incoming search terms:refinance market 30daysThe post How soon can you refinance if your property is on the market...
View ArticleIs it true that mortgage interest rates go up usually in summer and come down...
Q: I am a planning to get a home in Bay Area. Is it true that Mortgage Rates usually go up in summer and eventually calm down during the end of the year? A: Sounds like hogwash to me…I suppose in...
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