bela429 asked:


I originally applied for a loan and was able to qualify for only 70k since then I have made a few changes such as pay off some furniture I had financed and paid off my car loan and now I am looking to try again and my dad wants to gift me his 10 acres of land he owns if I pay off 1,200 so I want to do what is best either keep the cash as a down payment if its not gonna make a difference or pay it off and hope it makes me look better to the lender? Any advice that will help me get a better chance of getting approved for a better loan will be much appreciated, Thank you! by the way I’m looking for homes in the Hesperia area
I was wondering if having the land in my name take away the chances of getting the new homeowners credit?

Derek

minibikemulisha asked:


I have $15,000 in government student loans at 5.5%. They go back into repayment in 6 months. I’m just entering the work force and I’m thinking about doing a graduated repayment plan, it will rise as I make more and inflation rises. I have $20,000 saved in my bank account from work and saving. One friend of mine told me to use half of the $20,000 towards my loans before I consolidate making my loans at $5000, but that is money that didn’t come very easy for me and not very easy to make back since my income is currently low. Another friend told me to put my loans into repayment and invest my $20,000 I have saved and use my student loan interest tax write off to put towards taxes I have to pay from my investing. Use the money earned to pay my student loan monthly payments. I have no credit card debt, mortgage payments or any other debt besides a small car loan.

Any advice towards this situation would be great. If I should invest I’m open to investment advice, I’m not familiar with investing and I know the stock market is a mess at the moment. Thanks for your time.

Yolanda

bryan l asked:


I very upset with my mortgage company. 1 year ago they gave me a courtsey call telling me i have 45k in equity in my home. They threw me an offer to cut my bills down ect. I went into talk to them at a local office and they spelled every thing ourt My 1st loan is 140k on a adjustable plan. They were telling me to roll in my car loans, credit cards and student loan to cut monthy payments total as 70k. They valued my property at 220,000 did not send our a appraser, they also told me that it would help my credit score substantually doing this so i could refinance my 1st. Now my 1st adjusted from 5.7% to 9.22% with payments increase HUGE. I called Country Wide to dicuss refinancing. They looked it up and it did show my Credit Score did go up to 680. and yes we are ready to work with you. They sent a appraser our 300 dollars extra out of my pocket and they apprased the property at 185k, leaving me backwards 35k. they then told me they could not do anything.
to break it our
before this refinance Now after this
140k 1st 140k 1st
35k 2nd mortgage 80k in HELOC
20k in student loan Now told value
25k car loan is 185k
Property value was
told to be at
220,000

Marilyn