I went to refinance my home with a FICO of 702 now predator lender got me and 420 I sit?
craftaholic asked:
It can only happen to me I was all set felt funny about him from the start. Six weeks later and 20 calls a day easy I call him up for closing costs. A girl who never new he worked with anyone said I to pay 21,000 to a law firm. I stopped her she said didn’t he tell you theres a lien on the house. No lien i no of can i speak to him. Oh he is on his way to your house. I called him told him to turn around. Ended up 1 week before that said I could spend my SSDI check which pays mortgage i had two mths off. There’s so much won’t bore you ended up closing because of the payment i couldn’t make it up live on disalbity but, called Fair housing opt out as was told she would take care of me and payment. She ended up in hospital someone new my case but, got me one lender he never called back. So my option is to double my payment 1057 to 1800 or stayed buried. Does anyone know of predator lenders. Would you take him to court. I know i shouldn’t of spent SSDI but, getting 50,000 out home impro
DARRELL
It can only happen to me I was all set felt funny about him from the start. Six weeks later and 20 calls a day easy I call him up for closing costs. A girl who never new he worked with anyone said I to pay 21,000 to a law firm. I stopped her she said didn’t he tell you theres a lien on the house. No lien i no of can i speak to him. Oh he is on his way to your house. I called him told him to turn around. Ended up 1 week before that said I could spend my SSDI check which pays mortgage i had two mths off. There’s so much won’t bore you ended up closing because of the payment i couldn’t make it up live on disalbity but, called Fair housing opt out as was told she would take care of me and payment. She ended up in hospital someone new my case but, got me one lender he never called back. So my option is to double my payment 1057 to 1800 or stayed buried. Does anyone know of predator lenders. Would you take him to court. I know i shouldn’t of spent SSDI but, getting 50,000 out home impro
DARRELL
FHA Mortgage loan help please?
hasdad62 asked:
My wife and I are trying to refinance our home. We have a mortgage lender here in the Atlanta area that is handling the refi. He said that with good credit over the last 12 months we will qualify for a fixed rate loan of 5.75% for 30 yrs. Is there a big difference in FHA lenders? Should we continue to shop around?
He said that were approved at that rate
DANE
My wife and I are trying to refinance our home. We have a mortgage lender here in the Atlanta area that is handling the refi. He said that with good credit over the last 12 months we will qualify for a fixed rate loan of 5.75% for 30 yrs. Is there a big difference in FHA lenders? Should we continue to shop around?
He said that were approved at that rate
DANE
Refinance current mortgage?
James H asked:
Hi I have a mortgate of around 2 years old and is a 30 year fixed rate at 6.5%. With interest rates being slashed right now and house prices dwindling it would make a lot of sense to be able to refinance the mortgage at a much reduced rate, lower the monthly premium but still pay (ie overpay) the same amount each month to the mortgage company thereby paying of the principle faster and possibly ending up in a few years time with some equity back in the home. If I leave it as is the market is going down as fast as I’m paying off the principle and am therefore no close to actually owning my home. The other alternative to over paying is refinancing at a 15 year fixed rate loan as that seems to be giving me around the same monthly payment as I’m paying out now.
But the question is, with no equity in the house will my current (or even another) mortgage lender even look twice at refinancing (I understand that lenders are reluctant to give out loan to value ratios of higher than 70-80%)
thanks
HAROLD
Hi I have a mortgate of around 2 years old and is a 30 year fixed rate at 6.5%. With interest rates being slashed right now and house prices dwindling it would make a lot of sense to be able to refinance the mortgage at a much reduced rate, lower the monthly premium but still pay (ie overpay) the same amount each month to the mortgage company thereby paying of the principle faster and possibly ending up in a few years time with some equity back in the home. If I leave it as is the market is going down as fast as I’m paying off the principle and am therefore no close to actually owning my home. The other alternative to over paying is refinancing at a 15 year fixed rate loan as that seems to be giving me around the same monthly payment as I’m paying out now.
But the question is, with no equity in the house will my current (or even another) mortgage lender even look twice at refinancing (I understand that lenders are reluctant to give out loan to value ratios of higher than 70-80%)
thanks
HAROLD
does anyone know of any mortgage lenders that will refinance our home even if we have been in a forclosure in?
Bobbie asked:
We went into a forclosure not due to lack of income but lack of communication with our lenders.( long story) we are looking to get away from them and start fresh with another lender.our payoff amount is $235,7000 and our appraisal was $325,000.We have a decent income and need some advice.thank you.
NEIL
We went into a forclosure not due to lack of income but lack of communication with our lenders.( long story) we are looking to get away from them and start fresh with another lender.our payoff amount is $235,7000 and our appraisal was $325,000.We have a decent income and need some advice.thank you.
NEIL
Important Information on Home Loan Refinance
Alan Lim asked:
Deciding on a home loan refinance may be your best financial decision if done at the right time and with the right circumstances. Simply put, home refinancing is the process of changing your home mortgage to another which suits your needs better. It means that you have to take out on a new loan, and use it to pay your existing home loan.
Home loan refinance is a very promising financial move, but it can only reap about best results when carefully thought of. Through refinancing, you may be able to lock in with a lower, steadier interest rate without having to worry about balloon payments. However in some unfortunate cases, refinancing may cost more than it will save. It is then a decision that should never be taken for granted.
Reasons Why People Refinance
There are many reasons why people choose to refinance their home loans. You may want to get some funds to renovate your home, pay off all your others debts in a quick way, or raise some cash for a major purchase or for a vacation. In a more practical sense, most people opt for a home loan refinance in order to get a cheaper rate to pay. A few also resort to refinancing in order to switched from a fixed rate mortgage terms to a more variable rate, or from a variable to a fixed rate, for one reason or another.
If you are caught in either of the situations given above, you can go for a home loan refinance. Bear in mind that it is best to start with a clear and specific set of goals. Whether you want to cut down on your repayments, improve your home or free up some cash, it is important that you have a target objective. This will make the entire refinancing process smooth and trouble-free.
The process of getting a home loan refinance will usually take some time, effort and money. You should first find out what the approximate fees and charges are for refinancing. Most likely, your lender will charge you for your application fees starting with loan refinancing down to credit checking. On top of this, lenders may also charge you for title search and insurance to cover the cost of property research and policy. Also, loan origination fees may be imposed by your lender as they prepare you a new set of mortgage terms and arrangement. To get the best deal out of your home loan refinance, shop around for good offers provided to you. It is most advisable to do some comparison shopping in terms of services to get the best deal out of your refinancing cost.
The rule of thumb in refinancing states that a home loan refinance will only make sense if your interest rate gets lowered by at least 2 percent. However, know that mortgage terms are not created equal. Before deciding to refinance, make sure that you carefully consider all the aspects of the new mortgage and make sure that you will get a better deal than your previous one.
KIM
Deciding on a home loan refinance may be your best financial decision if done at the right time and with the right circumstances. Simply put, home refinancing is the process of changing your home mortgage to another which suits your needs better. It means that you have to take out on a new loan, and use it to pay your existing home loan.
Home loan refinance is a very promising financial move, but it can only reap about best results when carefully thought of. Through refinancing, you may be able to lock in with a lower, steadier interest rate without having to worry about balloon payments. However in some unfortunate cases, refinancing may cost more than it will save. It is then a decision that should never be taken for granted.
Reasons Why People Refinance
There are many reasons why people choose to refinance their home loans. You may want to get some funds to renovate your home, pay off all your others debts in a quick way, or raise some cash for a major purchase or for a vacation. In a more practical sense, most people opt for a home loan refinance in order to get a cheaper rate to pay. A few also resort to refinancing in order to switched from a fixed rate mortgage terms to a more variable rate, or from a variable to a fixed rate, for one reason or another.
If you are caught in either of the situations given above, you can go for a home loan refinance. Bear in mind that it is best to start with a clear and specific set of goals. Whether you want to cut down on your repayments, improve your home or free up some cash, it is important that you have a target objective. This will make the entire refinancing process smooth and trouble-free.
The process of getting a home loan refinance will usually take some time, effort and money. You should first find out what the approximate fees and charges are for refinancing. Most likely, your lender will charge you for your application fees starting with loan refinancing down to credit checking. On top of this, lenders may also charge you for title search and insurance to cover the cost of property research and policy. Also, loan origination fees may be imposed by your lender as they prepare you a new set of mortgage terms and arrangement. To get the best deal out of your home loan refinance, shop around for good offers provided to you. It is most advisable to do some comparison shopping in terms of services to get the best deal out of your refinancing cost.
The rule of thumb in refinancing states that a home loan refinance will only make sense if your interest rate gets lowered by at least 2 percent. However, know that mortgage terms are not created equal. Before deciding to refinance, make sure that you carefully consider all the aspects of the new mortgage and make sure that you will get a better deal than your previous one.
KIM