Mortgage Refinancing: Wait or Move Now?
The CoreLogic Home Price Index is up 2.5 percent from a year ago and the Federal Housing Finance Agency's purchase-only index reached its highest level in nearly two years, order medicine after growing 3.7 percent from last year — the fastest pace since September …
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Arizona State Credit Union reports members' HARP savings
Arizona State Credit Union saved 600 of its members more than $ 2 million each year by participating in the federal government's Home Affordable Refinance Program. The average member saved $ 369 on monthly mortgage payments, website the credit union reports.
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Question by Go with the flow: FHA has no mimimum mortgage requirement, website but banks will only make a loan for so little?
True or False.
Let’s say you find a house for $ 8, information pills 000
From what I have read, there FHA does not have a minimum requirement.
But, from what I have read most banks do not make mortgages for loans under 40K or 50K. My guess is all the paperwork and costs would be too great for an amount so small.
Anyone an expert on this?
I am sure there are banks out there that will do mortgages for only 30K, but I can’t imagine it being worth their time to do a mortgage for less
Best answer:
Answer by djstwain
As with any business they get to decide what loans will make them money. When you take into consideration the cost of doing business, it may not makes sense for them to write a loan for under $ 20,000. I would try a credit union or local regional bank.
What do you think? Answer below!
Question by tiredbutwiredlove: Obama’s loan modification program and 2nd mortgages?
We have 2 mortgages. Our first mortgage company will do the new modification, cure but does our 2nd mortgage company have to? I’m confused how Obama’s new plan covers those of us with second mortgaes who have lost our income. I know we would be able to refinance and put them together under the new plan, more about but I still don’t think it would save us much, and not as much as getting both of them modified. Any help in understanding this would be great!
Best answer:
Answer by Gaytheist Buddha
No help for second mortgages.
What do you think? Answer below!
Question by Spokesmodel: I received a letter that I may qualify for lower mortgage payments for my FHA Loan.?
I received a letter from Newport Shores Mortgage that I may qualify for a payment reduction on my FHA loan. Is this a scam? I contacted my mortgage company (Wells Fargo) a few months ago and they told me that FHA loans don’t qualify for any of the Obama programs, nurse but that it could change in the future. I looked up Newport Shores Mortgage on the HUD official website and they are listed as a qualified lender. I don’t want to get scammed and potentially lose my home, but I do need some help lowering my monthly payment. Does anyone know anything about this?
Best answer:
Answer by patrick
well… you are being partially scammed.
What they did was search through the recorded deed documents, or through credit reporting agencies, and determined the value of your current loan, and the interest rate you are paying. Then they determined that you may qualify for a new FHA loan at a lower rate.
They are really looking to get you to refinance your loan, through them.
that means you will have to apply, pay all the closing costs, and application fees.
Most likely you are better off throwing the form letter in the trash.
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Check out these chateau photos:
Chateau d’Anet
Image by ell brown
A French Chateau close to Dreux built from 1547 to 1552 for Diane de Poitiers, more about the mistress of Henry II of France.
The Chateau was used as a place in the 1965 James Bond film Thunderball
This was just a quick photo quit on our tour group, page so we did not go in. Took lots of shots and we had been on our way towards Chartres.
The Château d’Anet is a French château near Dreux constructed by Philibert de l’Orme from 1547 to 1552 for Diane de Poitiers, the mistress of Henry II of France. It was a gift from the king and was constructed on the former château at the center of the domains of Diane’s deceased husband, Louis de Brézé, seigneur d’Anet, Marshal of Normandy and Master of the Hunt. The château is especially noted for its exterior, notably the statues of Diane de Poitiers as Diana, goddess of the hunt, by Jean Goujon and the relief by Benvenuto Cellini more than the portal. Anet was the site of one of the initial Italianate parterre gardens centered on the building’s facade in France the garden-designer in charge was Jacques Mollet, who trained his son at Anet, Claude Mollet, destined to turn into royal gardener to 3 French kings. Anet right now The château was constructed partly upon the foundations and cellar vaults of a feudal castle that had been dismantled by Charles V and was subsequently rebuilt as a Late Gothic manor of brick and stone. The château was not pillaged in the course of the French Revolution, but Diane de Poitiers’ remains were removed to a pauper’s ditch in the parish cemetery and the rich contents of the château, which were the house of King Louis XVI’s cousin, Louis Jean Marie de Bourbon, duc de Penthièvre, were sold at auction as biens nationals. A significant portion of the château was subsequently demolished, but only after Alexandre Lenoir was in a position to salvage some architectural components for his Musée des monuments français ( presently situated in the École des Beaux-Arts in Paris). The components had been reinstalled at Anet right after World War II. The restoration of the château itself, in pitiable condition, was due to comte Adolphe de Caraman, who bought it in 1840 and undertook a colossal system of restoration. In 1851, the minister of the interior granted Anet the status of a monument historique. Below financial duress, Caraman sold the château in 1860 to Ferdinand Moreau, who continued the restoration, getting furnishings and functions of art that had been thought to be initially from the château. The portal The free-standing chapel of Anet, constructed to the left of the cour d’honneur in 1549-1552, is created on a centralized Greek cross floor strategy below a diagonally-coffered dome. Its facade has a porch of widely-spaced paired Ionic columns amongst towers crowned by pyramidal spires.In 1581, Henri III and his mother Catherine de’ Medici came to the chapel to attend the baptism of the infant son of Charles, duc d’Aumale. There is also the mortuary chapel, constructed according to Diane de Poitiers’ final wishes to contain her tomb, commissioned from Claude de Foucques by Diane’s daughter, the Duchesse d’Aumale. The home belonged to many of louis XIV’s descendants Louise-Françoise de Bourbon died here in 1743, she was a daughter of the renowned illegitimate son of Louis XIV the Louis-Auguste de Bourbon, duc du Maine. His sons the princes des Dombes and comte d’Eu lived right here when away from Versailles. It was later owned by the fabulously wealthy duc de Penthièvre, very first cousin of prince and the comte. The castle was employed as a filming location in the 1965 James Bond film Thunderball.
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Chateau Fountainbleau
Image by Marcel “MadJo” de Jong
Chateau Fountainbleau
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chateau
Image by zoetnet
chateau in a park in central paris france
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Question by : Can someone explain a no doc mortage loan to me?
I just heard of the No Doc loan. Are they real? If they are, viagra what is involved and how much more do you pay?
Oh, viagra and what is a point? How much does one point equal in money?
I think I have my best answer. This loan seems terrible. I thought it mean tthat you didn’t have to fill out a bunch of paperwork.
Best answer:
Answer by src50
No doc loans are pretty much nonexistent now. A point is one percent of the loan amount.
What do you think? Answer below!
A point is one percent of the loan amount. One reason that we are in this mortgage mess is because of the no doc loans. It means that you don’t need to document your income you just need to tell them what you make. STUPID. You will pay a higher interest rate. I would say that if companies are still doing it then they are idiots and should not be open for business.
If you know of a lender doing no doc loans, I’m sure there are plenty of brokers/mortgage professionals that would love to know who it is. No doc loans are pretty much a thing of the past, basically, you filled out an application and the bank took your word for it, especially if you had great credit and equity in a home. For example, say on the mortgage application you stated your made 5k a month, pulled an 800+ credit score, and owed 75k on a home worth 300k, the bank wouldnt trouble you for w-2’s, paystubs, tax returns, they may not even verify your employer. You had great credit, and if your appraisal supported the value you stated, you were in the clear. As you can see, this is why they no longer exist. One point = 1% of the loan amount
No doc loans, aka stated income loans, were (notice I say were, past tense) loans where people didn’t have to provide proof of income. They simply stated what they made and this was good enough for the lenders. This was great for the people that were self-employed and had trouble proving income. This is one method where alot of people got themselves in trouble, they wanted the big house and were willing to misrepresent their income to get it. Most of these loans went into foreclosure. These loans are virtually non-existant now. If you could find one, expect to pay double digit interest rates.