Personal Finance | home lenders refinance mortgage

December 24, 2010

Refinancing my Mortgage?

Filed under: Personal Finance — Tags: Housing Market, Lenders, Loan Value, Mortgage Market, Refinancing Mortgage, Value Of My Home — admin @ 2:34 pm

labellewg asked:

I have about 350K left to pay off on my mortgage. The housing market being what it is the value of my home has dropped below the 350K I have left to pay off. I am looking into refinancing to a lower rate but was told that my “Loan to Value” amount was off and I’d need to borrow more than my house is currently worth. Most lenders won’t do that.

Is this correct?
Are there any other options for me?

Marc

Comments (3)

December 23, 2010

1. Which type of debt is the least attractive for a consumer? (1 point)?

Filed under: Personal Finance — Tags: Car Loan, Collateral, Credit Report, Credit Score, Depreciation, Foreclose, Home Loan, Interest Rates, Leasing, Loan Cars, Money Exchange, Mortgage Debt, Principal Interest, Stolen Cars, Warranties — admin @ 10:15 pm

mysteryman asked:

1. Which type of debt is the least attractive for a consumer? (1 point)
unsecured debt
secured debt
mortgage debt
lease debt
2. Secured debt means a lender gives you money in exchange for what?
(1 point)
collateral
credit report
principal
interest
3. When an asset, such as a car, decreases in value over time what is it called? (1 point)
financing
equity
leasing
depreciation
4. When you lease a car, you build equity while making monthly payments. (1 point)
True
False
5. If the bank decides you’ve defaulted on a car loan, what will they do? (1 point)
foreclose on the car
refinance the car
repossess the car
depreciate the car
6. Why do lenders often charge more interest for a car loan than a home loan? (1 point)
because you could crash the car
the car could be stolen during the loan
cars can be moved to annother location
all of the above
7. Secured debt allows you to refinance the loan to get money (equity) out in the event of an emergency. (1 point)
True
False
8. Credit cards are considered unsecured debt. (1 point)
True
False
9. If your credit score goes down significantly and you miss a car or home loan payment what could the bank do? (1 point)
foreclose on your home
require the car loan to be paid-in-full
increase interest rates
all of the above
none of the above
10. When you buy an off-lease used car, you can buy the same warranties you would get if you purchased the car new. (1 point)
True
False

Kim

Comments (1)

December 19, 2010

Help me Understand pleaseee

Filed under: Personal Finance — Tags: Car Loan, Collateral, Credit Report, Credit Score, Depreciation, Foreclose, Home Loan, Interest Rates, Leasing, Lenders, Loan Cars, Loan Payment, Money, Principal Interest, Secured Debt — admin @ 6:06 pm

Suck it asked:

Which word describes what you exchange for money when you negotiate a secured debt with a lender?

       collateral
       credit report
       principal
       interest

Which word describes the decrease in value of an asset over time?

       financing
       equity
       leasing
       depreciation

. What will a bank do if you default on a car loan?

       foreclose on the car
       refinance the car
       repossess the car
       depreciate the car

Why do lenders often charge more interest for a car loan than a home loan?

       because you could crash the car
       the car could be stolen during the loan
       cars can be moved to from one location to another
       all of the above

What can a bank do if your credit score goes down significantly and you miss a car or home loan payment?

       foreclose on your home
       require the car loan to be paid-in-full
       increase interest rates
       all of the above

Thelma

Comments (2)

November 24, 2010

My lender declined to refiance my house with a line equity as a second mortgage, what should I do?

Filed under: Personal Finance — Tags: Home Value, Honest Opinion, Mortage, Options, Refinance, S Market, Second Mortgage — admin @ 12:57 am

Chong L asked:

Basically, like every other home owners out there. My wife and I took a line of equity several years ago. Our house is now under water, we owed more than what the home value is worth at today’s market value. We’ve tried to refiance with our lender but was told we did not qualify to refinance. What should we do? Should we let go the house or keep on paying the mortage, which we barely making it month by month. Please I need some honest opinion about my options. Thanks.

Lawrence

Comments (1)

September 30, 2010

Does yahoo watch for them and block them or something?

Filed under: Personal Finance — Tags: Answer Report, Car Title Loan, Debt Consolidation, E Mail, Financial Assistance, Good Answer, International Loans, Loan Application, Loans Auto, Mail Mark, Maxine, Micro Finance, Mortgage Business, Petti, Second Mortgage — admin @ 2:43 am

pppppffffttt asked:

Are these scams too??
i asked about car title loan places and i get these, whats up for real w/ them?

Hello I am Mark Maxine by name, the (MD) of Mark loans venture i am a Reputable, Legitimate an accredited money Lender.I give out loans to Individual and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills? You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 3% interest rate. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans Please write back if interested. Upon Response, you’ll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You reach us via e-mail:mark_maxine700@yahoo.com

7 hours ago
Choose as Best Answer
0 Rating: Good Answer 0 Rating: Bad Answer Report Abuse
by Frank Petti Member since:
August 13, 2008
Total points:
137 (Level 1)
Add to My Contacts

Block User

Hello,
I am Frank Petti by name, the C E O of Petti Micro finance, i am a Reputable, Legitimate & an accredited money Lender.I give out loans to individuals and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills?
You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 5% interest rate.
Services Rendered include:
*Refinance
*Home Improvement
*Inventor Loans
*Auto Loans
*Debt Consolidation
*House Loans
*Line of Credit
*Second Mortgage
*Business Loans
*Personal Loans
*International Loans
Please write back if interested.
Upon Response, you’ll be mailed a Loan application form to fill.
(No social security and no credit check, 100% Guarantee!)
I Look forward permitting me to be of service to you.
You reach us via e-mail:info@pettimicrogroup.co.cc

office number, 00233-28-52-52-676,

(C E O) Tel-+233-24-82-40-801,

Fax-00233-217-134-43,
5 hours ago
17 minutes ago – 3 days left to answer.
Additional Details
1 second ago

thanks guys! i kinda figured but you know, desperate times….how sad they prey on down and out people!

Margaret

Comments (3)

September 15, 2010

Can I be removed from the mortgage I share with my boyfriend?

Filed under: Personal Finance — Tags: Bf, Loan Lender, Mortgage Broker, Mortgage Loan, Options, Refinance Mortgage, Relationship, Rock And A Hard Place — admin @ 3:26 am

dani asked:

I have a contract on a home and we’re supposed to close in one week. My boyfriend and I are both on the mortgage loan. I tried to get the mortgage broker to switch it to just be in my boyfriend’s name, without me involved. Well, he dragged his feet and today told me to do so would take another 21 days which would put us behind on closing and my bf is pressuring me to get over it so we don’t have to postpone. So, My question is, if I am on this joint mortgage loan with my bf, and something bad happens between us and I want out of the relationship, what can I do. I’ve heard I can have my name removed from the loan so that the lender can never come after me for funds in the future? is this true? Is it expensive/complicated? Or is the only option to refinance the mortgage just in his name? What is the process for this? Thanks for any help. I feel stuck between a rock and a hard place. Want to know my options should something go wrong with us… Thanks

Pedro

Comments (6)

May 18, 2010

Mortgage programs with stated income borrowers?

Filed under: Personal Finance — Tags: 100 Ltv, Credit History, Decent Rates, Fico, Fit, Income Borrowers, Income Loans, Late Payments, Lenders, Ltv Cltv, Mortgage Programs, Parameters, Property Values, Rate Sheets, Subprime Market — admin @ 3:44 am

sammydavisjrjr asked:

Okay. Let’s get past the obvious. I am looking for answers about stated income loans. Owned home for 14 months, no late payments, stated income (self employed). I know the subprime market has gone to waste and alot of poeple that fit into that market cannot refinance because they changed the parameters to do so. So here is my question. with a 710 mid fico, am looking for 95-100% ltv to pull a little cash to pay off debt. Does this put me into subprime because of the ltv or am I consider A paper because of my fico and good credit history. Also, can anyone suggest the lenders that offer programs that fit this scenario?
Thanks.
to add: I am looking for real answers, not email addresses and such.. and yes I am aware of property values, etc. what I wan to know is specific. is it still considered subprime going to 100% ltv/cltv and given the fico’s, is this something that can be done with half way decent rates? It would be great if someone posted a link to rate sheets as opposed to emails and comany web sites. thanks

Alma

Comments (2)

« Newer Posts — Older Posts »