Monthly Archives: April 2009

If I sell my house, do I have to also pay off my second mortgage at the same time?

Leah asked: I’m looking into selling my house. A couple of years ago, I took out a home equity loan to cover unexpected expenses. Can I pay off the mortgage loan, but still make payments on the home equity loan for the remainder of it’s term? I don’t think I will be able to sell [...]

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im trying to get a house loan for 700,000.00 at a very cheap mortgage?

Blake T asked: Will im trying to move into a house in i have kind of sorta ba credit and i was wondering if someone knew where i could get a mortgage loan for that much without pay no more then 1900.00 a month? or is that even possibleLive Bet Now

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What are the pros and cons to a FHA home mortgage loan?

cornfed asked: I have terrible credit but have been pre-approved for FHA at 6% interest fixed for 30 years.
I’m wondering if this is the way to go or if there are better ways to buy a home.
I’m a single mom, live in Iowa,have very little for down payment, good rent and work history, and signs [...]

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Will a repo from a furniture store that was paid immediately keep you from getting a home mortgage?

Terri asked: the sofa and loveseat feel apart after 2 months tried to get the company to give my mom something better of equal value.Refused to do so.Let them pick it up,they sold it we paid it off.Credit manager had entered it in as a repo.Her credit was very good before.Is getting HUD loan [...]

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How does having our lot already paid for play into the equation for a home mortgage loan for building a house?

shon h asked: For example, we are buiding a home for $300,000. We need a loan for $200,000 and our land is worth about $30,000. Do we receive “credit” for a clear lien - making the loan amount actually $170,000?Rent A Car Enterprise

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How exactly do Section 502 Rural Housing Loans subsidize a monthly mortgage payment?

bobo asked: Im looking into obtaining a section 502 rural housing loan from the USDA for low-income people. I have researched some of the usda’s info but cant find answers to my specific questions. My questions involves the repayment ratio, amount of mortgage financed, and subsidy. From what I understand, the [...]

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I need to find someone to assume my house loan. How do I get started?

JosieE7 asked: I’m recently divorced and my oldest son just moved out. I don’t have the money to fix it up, but I want to find someone to Assume my loan. I did start removing wallpaper from the previous owners and I’m painting. But it’s a nice size house and I just need to get [...]

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Do you need income verification to take out home equity or do a refinance on a current mortgage?

dandoe1979 asked: I’ve got about $26K left on a 15 year mortgage. House is currently valued at around $350K (bought it about 15 years ago for approximately $150K). Anyway, taking into consideration the current housing market, I’m interested in purchasing another property as an investment property. Current plans are to purchase a [...]

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can i get added to a house loan once my credit score rises?

Jason asked: My credit is pretty lousy, and it will probably prevent me and my girlfriend from getting a house. She and her mom are applying for the loan, but she and I will be paying it off. After my FICO score rises as my bad marks drop off, will it be possible to add [...]

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Is it possible to get a mortgage loan WITHOUT owning the land to put the house on?

samgurl2017 asked: Just some quick background info: My mom has a home on about 1-2 acres of land. We were hoping to order a manufactured home to put directly behind her house on HER property. The bank says that the land must be in OUR name in order to get a loan. Meaning my mom [...]

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