Randy H asked:


I have a credit score of 600. My credit is horrible due to business failure and medical problems. 3 or 4 judgments. But my medical problems are solved and I have a really good job that I have had for over 2 years and make good money. What are my chances of getting a mortgage.

Anna

itsjunglepat asked:


Replying to a question about liens, certificates / tax deeds, and felt that I 've never taken out a mortgage, it' s. A. little point blank in my knowledge.

Lloyd

Jeanie S asked:


If you don 't put 20% on the floor in a mortgage that you must pay private mortgage insurance. So with all that goes belly up with these loans because it pays and the ppl who took this money?

Caroline

casey asked:


Specifically ¿how strict are the loans? Can less than perfect qualifying for a mortgage at a somewhat reduced rate?

Stacey

dasielady asked:


I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, and a 5-year Balloon for 17% of the value, and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender.

I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %.

If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down?

What are your thoughts?

Thanks!

Eleanor

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 fixed rate mortgage, when I sell my rental property will the money from sale be transferred to my primary mortgage company without lump sum distribution to avoid tax penalty?

Thank you

Adrian

kekaaelias asked:


are there any first time homebuyer programs in texas that require little to no money down for a homes in texas? We have a credit score of 610

Lucille

Link921 asked:


I am currently paying $3000 for my house right now and trying to lower the payment since it is too high for me. My friend told me that when you do mortage, the company is going to partially own your house or something since they are lending you money. So far I found 2
loan companies that offer loans: quickenloans.com and lendingtree.com. Are these the right companies? Am I making the right decision in trusting these companies that they could lower my house payments?

Leroy

Kuntree asked:


First I don’t understand why banks would loan money to someone with bad credit or not having the means to repay. Second I don’t understand why investment companies like Bears Stearns would repurchase the loans from the banks. Securitize them and sell them as bonds. What are they learning at these prestigious business schools? How to be a licensed crook? The credit rating agencies are seem to be payed by not assigning the proper credit ratings. The country is falling apart because people don’t have the discipline to live within there means. Greed is running rampant.

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