Olivia asked:


My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer’s, we were unaware of it. We only knew about the Interest Rate. Thanks for the help.

Buffalo Grove homes

Blondie asked:


Working with a mortgage company to refinace my home and the agent keeps telling me not to worry, we will close guarnateed. Now after a month and we still havent closed, we havent made a house payment in 2 months because he told us not to, and now the loan may not close because we are late with the mortgage payment. What do we do?

Document Shredding

BC asked:


I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I’m not interested in HELOC’s.

Portland Real Estate

cookingmomma asked:


If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at different terms, can this be accomplished – does the existing second mortgage put a monkey-wrench in refinancing the first?

Paper Shredding

Spunkfight asked:


I have an interest only mortgage with my mortgage lender but I would now like to let my house out.

I have been advised that if I let my house out I am obliged to let my mortgage provider know.

I don’t know what the repercussions of this would be if I did or didn’t tell them. How would they find out if I just let it out anyway? What would they do if they ever found out? If I meet their mortgage repayments they shouldn’t have a problem, should they?

Can anyone enlighten me on these matters?

Flathead lake real estate

skategirl asked:


We are looking to refinance our mortgage. We had a bad experience with a mortgage broker the first time around. Aside from the BBB, are there any websites where I can find others’ opinions/experiences with mortgage companies?

Having received some offers already, there are a few which look too good to be true. The majority of the offers so far are at the same, somewhat higher rate (which seems to be the normal rate for our area). I just want to do some background research on the few companies that are offering the lower rates before we accept one of them.

Thanks!

Brigantine Real Estate

Dennis S asked:


I simply cannot seem to find legitimate information on becoming a mortgage broker in California. Many of the web sites that purport to have information really share very little of anything and some are just plain frauds. I’d like to find information on mortgage broker training and possibly information on finding a school (preferably Los Angeles) where I can get training on becoming a mortgage broker.

Santa Monica homes

Garry C asked:


Does the person pay the mortgage balance to the bankruptcy court? Does the person have to find another lending company to take up the mortgage balance?

Document Destruction

Mike asked:


I am a Mortgage Broker looking for some good ideas for advertising. What is the funiest or best mortgage ad anyone has seen? Any loan officers out there with any creative new ideas?

Laurel MD Homes

JV asked:


I’m a creditor whose debt is secured by a real mortgage. I’ve received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent debtor by the way is an individual, not a corporation. Please prvide legal basis.

Thank you.

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