don k asked:


am in some desprate need of advise, My wife up and left me a couple of months ago leaving me with this nice big mortgage. I am looking at selling the loan is for 205000 but the property is valued at 190,000 and to sell its going to be 15k. My payment is 1900 and i cannot afford it. My current mortgage company is not helping me. the home and morgage is all in my name alone.

Andrea

capswitt asked:


My Sister is 10 days late on her mortgage payment. The mortgage company stated that they would not accept the late payment and she needed to make the past month and next months payment together. Is it legal for Mortgage companys to do this? They cannot refuse payment can they? BTW, this is not the mortgage company she financed her loan through. The company was purchased by First Horizon several years ago. She did not agree to this with her original mortage company and was not advised of this ‘rule’ after the buy out.

Corey

John Elton asked:


As all of us know the great ambition of anyone in the world is to own a home. Most of the people are fed with the insufficient facilities of rented homes and also unable to bear the increased rental rates. Why to pay some amount every month as rental? You can very well own a home and save your hard earned money. But the problem associated with this ambition is the huge amount involved to purchase the dream home. Most of the people will not be having the large sum in their wallet to spare for the property purchase. The best opportunity comes to them as the mortgage loans. Many mortgage financing companies are out there ready to disburse loans amounts to the potential home buyers.

Many people wonder how to get best deals in mortgage loans and also how much amount of loan they can avail as mortgage loan. Also they wonder whether any amount needs to be out from the personal savings as down payment. To find out the answers for these doubts one has to do a thorough search in the online lender’s website. This information is highly important to plan well before venturing out to purchase a dream property. There are many factors which decide on the mortgage loan amount. In this article we plan to discuss about these factors.

You should able to calculate, at least approximately, the amount you require as mortgage loan. This is the first step you should attend. If you have already located a property, you can check up with the agent or home owner, the amount you require to pay over it. Please remember you should add about 20 % more over the cost as the total expense in materialising the dream property. This extra is for all the expenses which will be coming in the way of searching the property to approval of registration. This include, commission fro the agent, registration charges, evaluator charges, taxes and so many such expenses.

You do not expect that you can get full expenses as the mortgage loan. You should able to make some down payment from your personal saving. You will be benefited if you can pay more from your own wallet. It is always advisable to pay maximum possible as your own down payment, as you will save much amount as interest. The amount of the mortgage loan depends purely on the worth of the home property. This includes bricks and mortar charges, construction costs, labour charges and many such items.

The amount of mortgage loan for the property also depends on the location of the property. If the home is placed at a prime location, the value of the home will be high and if the property is highly interior, the appreciation will be very low. The lenders will have their own evaluators. They will make a site visit and then decide on the appreciation of the property.

When you estimate the amount of mortgage loan you require, make sure that you have considered all the above factors.



Brenda

3Diamonds asked:


Hi, Im a loan officer for the past few years, and Im looking to get into hard money lending. I would like some tips or info on how to get into this… I am already a mortgage broker, and have access to lenders, but I think I would need private investors as my contacts as well. Please advise- much appreciated!!

Edward

no picture asked:


I bought a house six months ago. The price was 465,000. Anyways my real estate agent hooked me up with two mortgages. My first mortgage is fixed for 5 years and is interest only, i got it for 6.62% interest rate, my second mortgage is a balloon loan and i got that one at 9.15% interest rate. So i pay 2,031.39 for my first mortgage and 749.80 for my second mortgage. So do you think i got a good deal or my real estate agent screwed me over. I don’t know anything about real estate so any help or advise would be appreciated. Thank you.

Karen