aglaia asked:


My credit score is 680. I was told my debt to income ratio is high. Will my credit score increase and will it be better for me if I pay off these debts showing on my account by using my equity line?
1. credit card balance
2. a student loan I co-signed with my son (my son pays the monthly bill)

Patricia

dgetzkow asked:


I have 3 rental homes and now the variable rate interest went up to 13%. I can’t make it work to rent them out and pay taxes and insurance. Not to mention repairs, etc. I know my credit is horrible. I couldn’t pay the credit cards a year ago and went into default with them. I want to refinance these home mortgages or I’ll have to default on them.
My credit is already shot and what would happen if I just let them go back to the lender?

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Sean asked:


Granted you’re supposed to do your own research but what happens when a mortgage company convinces you that your fears and your worries are unfounded. Many people did have reservations about refinancing and purchasing homes with these sub prime mortgages, however these lenders really made it their business to prove it was a good move. Why would you take advantage of people regarding something this serious?
Jessica: looks like you were absolutely right! lol Good call.

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Auren W asked:


I refinanced 2 weeks before American Home Mortgage declared bankruptcy. They still owe me my escrow money (a new escrow account was created at closing with the new company). Is the escrow money legally mine and protected from the company’s bankruptcy, or can the company default on paying it back? Thanks!
The AHM mortgage was paid off and my new mortgage and new escrow are already in effect with my new company. The procedure was the AHM escrow was to be refunded to us and we already have a new escrow in place. While waiting for the AHM escrow to be refunded to us, AHM declared bankruptcy. Is the escrow money legally mine? Continuing to make payments is not the issue–we are already paying mortgage payments and already set up a new escrow with the new company.

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Rony Walker asked:


Career moves can be stressful. But if the pros outweigh the cons, then you have a good thing going. It may mean you have to say goodbye to the old neighborhood, uproot your family, and start anew, so you have to be ready with your planned refinance mortgage loan.

Not Just A Case of Money

Deciding on a career is not always about money. There are several reasons that go beyond the usual petty office indifferences. But when the tension in the work place is already choking you and running your self-esteem in the shredder, it’s time to go.

But making a career move is not always about money or getting a refinance mortgage loan for a beautiful home by the beach in far-flung Florida. The decision is also influenced greatly by family matters like:

1. distance of home from the kids’ school.

2. long commutes from office to work.

3. unsafe neighborhood.

4. a child going to college.

Non-family reasons could be:

1. unhealthy environment and culture at the workplace.

2. more pink slips.

3. undervalued or underrated work.

If you’re still at your old office cubicle, unsure of what to do, have your blood pressure checked. Don’t wait until you blow up and ruin everything, including your refinance mortgage loan application. You’ll still need the good graces of your boss for the smooth ride of your loan approval.

The impending company merger made up your mind. This meant that some people in the office would be offered as sacrificial lambs. Since you have been bypassed for promotions several times (another gloomy sign), you suspect you’ll be the first to go. Rather than go meekly like a lamb, you’ll exit like a lion. Anyway, you’ve got a refinance mortgage loan, a new job waiting, and a house ready to snap up in Florida.

Time For A Refinance Mortgage Loan

When the signs are out in the open, it’s time to look up opportunities outside the office. Update your resume if it hasn’t been aired for a long time and ask your friend at the staffing agency to find you the best match anywhere. While you’re busy consolidating your chances for a better-paying job, or a job that you’d pay top dollar just to get in, let your wife complete all the requirements for your refinance mortgage loan.

Since you’ve been a good customer (you pay your monthly installment on time) and you have not incurred incredible credit card debts, your loan papers will be processed faster than you can blink.

Is It Time To Say Goodbye at the Water Cooler

Going to the water cooler and saying goodbye to friends and colleagues can be a sentimental journey, especially if you’re leaving after 8 years with the company. But you have finally decided that your stint is over. The signs were all over the place. It was now time to go and map out your refinance mortgage loan to finance your move and your new home.

But you’ll miss your friends, especially Mr. Dane who never refused you small loans whenever you were short of cash. You’ll never hear Ms. Old Maid scold and fuss, she who always borrowed your orange stapler and your headphones. There’s John, your poker buddy and Precy, the office beauty who walks like the world will always wait for her.

The goodbyes at the water cooler will be outwardly cheerful. You’ll miss them all and they’ll miss you - the office jack-of-all-trades. So slap the guys back and kiss the women goodbye. It’s time for the biggest change in your life. Your refinance mortgage loan will start you afresh on a new lease in life. If you’ve made a smart career move, make a smarter refinance mortgage loan choice this time around.



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Fast Pace asked:


having 668 on credit score and being first time home buying. Today, what docs do we need to present to refinace? Thanks, I appeciate your help.

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Rony Walker asked:


Falling interest rates are often the prelude to home owners rushing to avail of a refinance mortgage loan. Most of the time, there is not much thought given to the merits or financial implications of that idea. It is a very attractive option, much the same as an open flame is attractive to a moth.

At first glance, a refinance mortgage loan does not seem to be minatory at all. But being burned by one is not something most people would count as a pleasant experience. In fact, rates are just a small part of the bigger equation. Some people take out a refinance mortgage loan every time rates go down, even by just a little. A common scenario is a refinance mortgage loan once every year for about five years running. That is clearly disadvantageous. Every refinance mortgage loan means adding more principal to the end of the loan as well as extending its duration.

But What Is A Refinance?

Purchase-money loans are the original loans secured by buyers to buy a house. On the other hand, a refinance loan is a new loan utilized by the borrower to pay off the original loan. Obviously, for borrowers with multiple refinance loans, the current loan pays off the last refinance loan. The refinance loan is usually prioritized but a home equity loan can also be refinanced.

What’s Your Flava?

If you are currently paying a fixed-rate mortgage, it is still possible for you take out a different mortgage loan when you get a refinance loan. Before you switch from a fixed-rate mortgage, you must be sure that you understand all of the terms of the new refinance mortgage loan. Let’s take a look at some common mortgage loan types.

Interest-only mortgages are loans that are backed by real estate. They contain an option to make interest payments. They are often portrayed as risky and disadvantageous to the borrower. This is often not the case at all.

Another mortgage product is called the Option Adjustable Rate Mortgage. It is perhaps the most complex loan program in real estate mortgage financing. Without proper management, it could cost a home owner his or her entire equity. For the knowledgeable borrower, it could be the optimal solution. Option Adjustable Rate Mortgages contain negative amortization. This is a key concept that is often misunderstood. That is why Option Adjustable Rate Mortgages are generally disdained.

FHA loans are gaining again in popularity. The Federal Housing Administration does not give out loans. Instead, it insures them. This insurance eliminates or alleviates the risk lenders face when buyers only pay a small percentage. Borrowers with less than perfect credit histories might want to consider them. They may qualify even if they have had financial problems in the past. Also, the rates are competitive and the terms are very straightforward. Today’s FHA loans also require fewer repairs on the home. They are available to everyone. However, first time and low to moderate income buyers are their most frequent users.



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Andre K asked:


I need to refinance my mortgage or get a new one if I decide to buy a new home. Which mortgage co. is safe and reliable?

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Julio A asked:


i want to refinance my home,but my broker tells me that the minumum fico score is constantly changing,so,i want to exactly know what is the minumum score to do a stated refinance mortgage deal right now?

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Christine L asked:


I have a great fixed rate on my first mortgage 4 3/4%, however I am paying about 11% on my second. Are there any companies out there that will refinance only the 2nd? And how does equity come into play with this, the CA housing market is not that great! Not looking for cash out, just a lower monthly payment. If anyone knows a company that might work with us, please let me know. Thanks,

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