Question by schatziepupos: Is there a program for home owners who are now underwater on their mortgages?
I did a refinance on Our home with an appraisal of 235k now My home is only appraised at 153-165k.
Best answer:
Answer by Judy
The government can contact your current mortgage holder and see if something can be worked out.
You may be able to re-fi and they could cut down “forgive” “forbearance” of some of your amount.
It’s worth calling them.
It’s a free service by the feds – HUD.
http://makinghomeaffordable.gov/
Also try hopenow.com – its practically the same thing – just an older website
They may be easier to contact by phone since the first site is kind of new.
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Question by dancingshlee4285: How long after buying a home can you refinance?
My husband I just bought home in July 2008 for 87k. Our interest rate is at 6.25. With the mortgage rates falling because of the economy, this we would like to refinance to pay off some bills and to get a lower rate. We are first time home buyers and have a fixed 30 year FHA loan. Do we have to wait one whole year to finance or can we do it now?
Best answer:
Answer by Woody
Smart move. It depends on the fine print of your current loan. Does it have prepayment penalties or any other ugly clauses? I suggest you simply call your current lender and tell them you are thinking of doing and see what they say. They may even give you a break on document fees and closing costs to stay with them, although it may not matter with FHA.
I just built a new home, closed in Sept for 6.34% and refinanced with a different lender for 4.75% in April. Tip – you can fold the closing costs and doic fees into the new loan if you don’t want to lay out the cash. Your monthly payment will still be much lower.
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Some cool castle images:
Sandal Castle
Image by SFB579 🙂
The castle, more about with pugneys waterpark behind.
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Castle of Alanya
Image by ozgurmulazimoglu
Alanya Castle (Alanya Kalesi) is a medieval castle in the southern Turkish city of Alanya. Most of the castle was constructed in the 13th century below the Seljuk Sultanate of Rûm following the city’s conquest in 1220 by Alaeddin Keykubad I as part of a building campaign that included the K?z?l Kule. This castle was constructed on the remnants of earlier Byzantine era and Roman era fortifications. The castle is situated 250 meters higher on a rocky peninsula jutting into the Mediterranean Sea, information pills which protects it from three sides. Right after the region was pacified below the Ottoman Empire, the castle ceased to be purely defensive, and several villas have been constructed inside the walls in the course of the 19th century.
Right now the creating is an open air museum. Access to the seaward castle is ticketed, but significantly of the region inside the wall, which includes the landward castle is open to the general public.
Türkçe:
Surlar?n?n uzunlu?u 6.5 kilometreyi bulan Alanya Kalesi, denizden 250 metreye kadar yükselen yar?mada üzerindedir… Kandeleri ad?yla da bilinen Alanya yar?madas?ndaki yerle?im, Helenistik döneme kadar inmekle birlikte günümüze kalan tarihi dokusu 13. yüzy?l Selçuklu eseridir.
Kale, 1221 y?l?nda kenti al?p yeniden in?a ettiren Selçuklu Sultan? Alaaddin Keykubat taraf?ndan yapt?r?lm??t?r. Kalenin 83 kulesi ve 140 burcu vard?r. Ortaça?da surlar?n içine yerle?mi? kentin su gereksinimi sa?lamak üzere 400e yak?n sarn?ç yap?lm??t?r. Sarn?çlar?n bir k?sm? günümüzde de kullan?lmaktad?r. Surlar, planl? bir ?ekilde Ehmedek, ?çkale, Adam Ataca??, Cilvarda burnu üstü, Arap Evliyas? Burcu ve Esat Burcunu inerek Tophane ve Tersaneyi geçip K?z?lkulede son bulacak ?ekilde in?a edilmi?tir. Yar?madan?n zirvesinde aç?k alan müzesi olarak de?erlendirilen içkale bulunmaktad?r. Sultan Alaaddin Keykubat saray?n? burada yapt?rm??t?r.
Kalede yerle?im günümüzde de sürmektedir. Ah?ap ve kagir tarihi evlerin önünde tahta tezgahlarda ipek ve pamuklu dokuma yap?lmakta, de?i?ik figürlerde su kabaklar? boyanmakta, küçük bahçelerde otantik yemek servisi verilmektedir. Ayr?ca kaleye ç?kan yol üzerinde ve limana egemen yamaçlar?nda restoran ve kafeteryalar vard?r. Kale ta??t trafi?ine aç?kt?r. Yürüyerek ise yakla??k 1 saatte ç?k?labilir.
Kaynak:http://www.alanya.com.tr/tr/Tarihi-Yerler/50-Alanya-Kalesi.html
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Question by Smiley: Regarding high interest rate on my home?
My interest rate on my mortgage is at 6.1%. I heard people where able to negotiate with their banks regarding lowering their interest. I have never miss any payments, pharm but would like to lower my interest if possible. My loan is thru Bank Of America. How do I go about negotiating with the bank? Thank you
Best answer:
Answer by John Cage
You go to Bank of America or any other bank and ask to refinance your loan.
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Question by junebugbaby83: How do I find out how large of a VA home loan I will qualify for. What is this amount based off of?
Is credit at all a consideration? How long does it take to get a certificate of eligibility?
Best answer:
Answer by omegahpla
you go to a lap approved VA lender give them your income, sickness tell them your monthly debts and they can calculate it. (I think the VA lenders who can do their own paperwork is called lap approved, viagra approved that could possibly be the FHA or some other gov loan, more about but get one oked by the VA, which makes the loan process so much nicer). I think it’s a payment of about 26% of your gross income (before taxes) for the house payment and 41% of total income for all payments including the house payment, or right around those numbers. You should be able to get 0 down. Any short term debt that will be paid off in around 6 months or less they won’t count towards the total debt. There is an interest rate that the VA gives thats been a tad better than conventional lately, hovering around 6% last I looked.
You can use this site to calculate payments on certain amounts at certain % rates.
http://www.mortgage-calc.com/mortgage/simple_results.php
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Banks Write Down Billions in Mortgages
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