Seems to me that PMI is very costly for the home owner, especially me with a perfect credit rating and new funding source to maintain a mortgage if I lose my job (my job is very secure). Please any suggestions on how to get the PMI waived by the mortgage company.
Maryland Real Estate
I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I’ve been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months.
The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address.
I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don’t need to borrow to pay debts.
Buy A Gps System
I’m planning to relocate, but current owe a mortgage for $50k. I also have a bankruptcy on my record thats a couple of years old. I’d like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one?
Cellulite Treatment
Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.
Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.
Boston Condos
The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high?
Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses.
Big businesses then had to cut back on expenses and began to lay people off the the thousands.
So what caused the mortgage rates to go up so high that started this financial mess in the first place?
San Diego Property Management
I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own additional money to the second mortgage or just the first mortgage and back taxes?
Chula Vista Home And Condos
In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What’s the part that these frauds played in the actual mortgage crisis ? Thanks.
Ventura County Real Estate
I recently got a letter from my bank saying I owed them $199 from “late payments” on my mortgage. (you know how your mortgage is due and if you pay it late they tack on a charge) Well, everytime my husband went to pay our mortgage even if it was late, the bank teller never tacked on the charge. Anyways, they are saying their going to take us to collections for the amount due, does this mean their going to try and take our house? We have never missed a month on our mortgage, just a few times they didnt tack on the late charge…can anyone answer?
It’s was late a few times because our son was sick and we spent a ton of money going back and forth to st judes. But that wasn’t my question, will they try and take our house?
and we are making them on time now.
Brigantine Real Estate
… as a first time Home Buyer ? My husband(military veteran) and i would like to buy our first home . It’s almost overwhelming with all the diffrent kind of loans / mortgages . We don’t know who to trust …?
Hawthorne Ca Real Estate
I refinanced w/ my ex-husband on our home when going through our divorce in 2005. We did not want our 2 kids going through both a divorce and a move all at once -a decision i now regret. We did a subprime loan so I could afford the pymts. He is listed first on the loan. Per the divorce decree, he had to sign a quick claim on the house BUT I was to be moved out of the house by 07/10 and we’d split any equity. Well, the mortgage has gone up $400/mo since and there is no equity. Matter of fact we probably owe $20,000-$40,0000 more than what the house is worth. I signed off on this mortgage thinking we could sell in a few years but I did not know that w/ this loan, mortgage balance increases instead of decreasing. It started out around $220,000 and now is like $240,000+. I want to walk away from the property before another increase but what are my options? I’m not too worried about my credit at this point because it is no longer good from trying to keep up with these outrageous payments.
Sarasota Florida Real Estate
1. When someone other than the checking account holder signs a check it’s considered to be what? (1 point)
bounced
forfeited
authorized
forged
2. When a check is not honored by a bank because there isn’t enough money in the account, it’s called a ___________ check. (1 point)
bounced
forfeited
authorized
forged
3. The amount of money you’re approved to charge on a credit card account is called what? (Hint: It’s shown on the monthly statement) (1 point)
overdraft
available balance
collateral
overdraw
4. What does it mean to say that paper currency is negotiable? (1 point)
you can barter about the price
there are very few available
it can be easily transferred to another person
it is an optional fee
5. If an item on sale is priced 2 for 1 what type of calculation should you use to figure out how much each one will cost? (1 point)
division
multiplication
subtraction
addition
6. When you get in an accident, and you have to get your car fixed, what is your contribution to the bill called? (1 point)
premium
contribution
deductible
supplement
7. What MAXIMUM percentage of your “take-home” or net income should be spent on housing? (1 point)
10%
35%
28%
40%
8. When using an Automated Teller Machine or ATM – what is used to confirm the identity of the user? (1 point)
Personal Identification Picture
Private Internal Number
Personal Identification Number
Private Identity Number
9. The state ________ tax is added to the total on most purchases. (1 point)
income
sales
fuel
subsidy
10. Which of the following is NOT a basic necessity? (1 point)
Electricity
Running Water
Groceries
Cable Television
11. When a bank holds the title to an asset in order to secure a loan, what is the asset called? (1 point)
default
collateral
peripheral
principal
12. What type of debt uses collateral to ensure repayment of a loan, and generally offers lower interest rates? (1 point)
secure debt
revolving debt
equity debt
refinancing
13. A debt that is sent from the lender to a collection agency is called a what? (1 point)
bad debt
late payment
overdraft
repossession
14. Calculate the total price of an MP3 player that costs $178.95 if the sales tax is 9.5% – what is the total? (1 point)
$195.95
$194.55
$199.24
$190.75
15. 45% of $125.50 is how much? (1 point)
$75.00
$62.75
$56.48
$80.54
16. Another name for a check is which of the following? (1 point)
I.O.U.
promissory note
invoice
instrument
17. If you fail to pay a bill by the statement due date you may be charged a what? (1 point)
overdraft fee
finance charge
interest rate
late fee
18. A guarantee that a product will work as described for a certain period of time, or the manufacturer will replace it is called a what? (1 point)
promissory note
lease
warranty
premium
19. When you visit a doctor, or you fill a prescription, the amount that you pay out of your own pocket in addition to what your insurance company pays is called a what? (1 point)
deductible
co-pay
premium
coverage
20. Which of the following is an example of an involuntary salary deduction? (1 point)
retirement account contributions
federal tax withholding
optional health care coverage
car payments
21. When the elderly or disabled depend on governmental assistance to live, and it doesn’t change from month-to-month, they’re considered to be living on a(n) what? (1 point)
fixed income
fixed expense
fixed revenue
fixed costs
22. Another word for bankrupt is what? (1 point)
insolvent
incoherent
broke
impoverished
23. The type of loan a bank gives a homeowner to purchase a house is called a what? (1 point)
secured loan
mortgage loan
refinance
jumbo loan
24. When you earn more than you spend, you’re considered to have a financial what? (1 point)
deficit
shortfall
surplus
excess
Vancouver WA Realtor
