casper4 asked:


There are some new condos in my area that are selling in the low $300K range. By the time they go on sale, I would have about $10K in savings. I would also plan on living there for only about two years, before my significant other and I buy a home together.

My first question – do you think it’d be worth it? I don’t want to rent, but I also don’t want to waste my money on a condo I’d only live in for a relatively short time.

Second question – if it WOULD be worth it, would I have enough money to put a down payment on it? What kind of loan/mortgage would I have to get for it, and how long would I be paying it off? If I sold the condo after two years, would I likely get my money back for it?

Please use the most baisc layman terms you can, and please explain any mortgage/loan terms, as I’m not at all familiar with them. Thanks!
The condo is in North Jersey, right across the river from New York City. Hence the (unfortunate) giant price tag!

Mar Vista Real Estate

STONER asked:


i have 2 mortgages in my home loan, thing is i haven’t paid the 1st loan mortgage for about 3 months already bec of very very hard times, so the question is, what will i do with the 2nd loan? am i going to continue paying the 2nd loan while not able to pay for the 1st loan knowing that it will still lead to foreclosure anyway? that i would only waste precious money of what i have left if i would still pay the 2nd loan knowing that the 1st loan can’t be paid and would lead to foreclosure anyway, either way?

Houston Discount Real Estate

FarAway asked:


I know our guys dont get paid much, but im thinking about joining the navy and i’m trying to map out how much of my base pay can be put away for investments(i’m 21 and i plan to retire at 41). If you’ve served in any branch, but esp navy, what % of your pay would you say is expendable? Also, what kind of living costs should i take into account? in my case, i dont have any commitments back home(loans, mortgage, kids…..nothing).

Hawthorne Ca Real Estate

bigwhitedogs asked:


I have looked this company up on bbb.com but I’m not real sure how to read this information or to know if this company is legit……
Royal Lending Group
The BBB reports on businesses, both accredited and non-accredited. If an organization is a BBB Accredited business, it is stated in this report.
Name: Royal Lending Group
Phone: (866) 569-0684
Address: 485 Fields Dr.
Sanford, NC 27330
Website: www.royallendinggroup.com
Principal: Owner/ Manager
Customer Contact: Owner/ Manager – (866) 569-0684
File Open Date: February 2008
TOB Classification: Loans, Mortgages
BBB Accreditation: This organization is not a BBB Accredited business.

The BBB develops a full report BBB Definition:

report – A summary of activity reflected in a company’s BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
on a firm based on inquiry or complaint activity. This company first came to our attention in February 2008. We are attempting to develop more information on the company. At the present time we do not have enough information to issue a full report BBB Definition:

report – A summary of activity reflected in a company’s BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
. The BBB suggests you read and understand company promotional materials and contracts and check company references and licensing, where applicable.

Customer Service Contact

Owner/ Manager is the complaint contact person for this company and should be contacted at (866) 569-0684 before filing a complaint with the BBB.

Customer Experience

The BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period.

Licensing

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Industry Tips

Refinancing Loans

If you are considering refinancing, the Better Business Bureau suggests you shop around, compare prices and negotiate. But also move with caution when dealing with some lenders. To help you decide if refinancing is for you and to help you prepare to approach a financial institution, the BBB offers these tips.

When you refinance your home, you simply apply for a new mortgage at the lower rate in order to pay off the old loan. This means that, for many lenders, you will again be required to pay most of the costs you originally incurred to get your first mortgage – loan application fees, title search, appraisal, credit check, lawyer’s services, discount points (in many cases) and other finance charges.

Before you go through the expense of refinancing, check the interest rates to make sure they have dropped to a level that makes refinancing worthwhile. Conventional wisdom states that a two or three percent difference between the rate on your current mortgage and the new rate over a period of time – generally several years – usually offsets the costs you must pay at closing. The ultimate amount you may save depends on many factors, including your total refinancing, whether you sell your home in the near future and the effects of refinancing on your tax situation.

If you decide to refinance, obtain information from several lenders. Knowing just the amount of the monthly payment or interest rate is not enough. Ask for information about the same loan amount, loan term and type of loan so that you can compare the information.

Also, be cautious of smooth-talking lenders that contact you offering easy credit, guaranteed low-interest loans or loan terms that sounds too good to be true. Fraudulent lenders often prey on people who are desperate for cash to pay bills, make home repairs or who do not understand the mortgage loan process. Their loan terms can include excessive fees, high interest rates and provisions that can make it expensive for you to get out of the loan. If a lender asks for an up-front fee before you can obtain the loan, look elsewhere. Be sure to check with the Better Business Bureau and your state attorney general for a reliability report BBB Definition:

report – A summary of activity reflected in a company’s BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
on the lending institution (s) you are considering.

Once you know what each lender has to offer, negotiate for the best deal that you can. Have the lender or broker write down all costs associated with the loan. Be sure to read the loan documents carefully and be certain that all spaces are filled in before you sign them. Always assume that any document you sign is a contract. If you do not fully understand it, do not sign it!

Mortgage Choices
Shop, Compare and Negotiate -But Move with Caution When Refinancing Your Mortgage

Report as of March 4, 2008
Copyright© 2008 BBB®, Inc.

If you choose to do business with this business, please let the company know that you contacted the BBB for a report BBB Definition:

report – A summary of activity reflected in a company’s BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
.

BBB reports may not be reproduced for sales or promotional purposes.

The information in this report has either been provided by the company or has been compiled by the BBB from other reliable sources.

As a matter of policy, the BBB does not endorse any product, service or company. BBB reports generally cover a three-year reporting period, and are provided solely to assist you in exercising your own best judgment. Information contained in this report is believed reliable but not guaranteed as to accuracy. Reports are subject to change at any time.

Microdermabrasion Silkpeel

AamirGajni asked:


i am looking for a site, that exclusively caters to home loan mortgage related news

Torrance Homes

Sean asked:


First wave of sub-prime mortgage defaults over.

Second wave of mortgage defaults coming now to higher quality credit risks. These are people who have bought homes in the last five years and who have taken out home equity loans. Mortgages now going under water owe more than house is worth. This wave of defaults will take upwards of 10 to 12 months to clear.

Third wave of mortgage defaults due to begin this year and continue through 2011 are Option Arms and Altay; as payments are automatically resetting to higher rates. We saw some fail last month because of a 3% rate hike, next month is the beginning of the end as rates start to climb even higher.
Estimated – 8 million defaults in next four years.

As if this is not enough we have the next huge failure to come in the commercial real estate market, that will make the sub-prime fiasco look like kids play!

Then comes credit cards and auto loans in the end.

Bozeman Real Estate Listings

pierre d asked:


purchasing a house or condo
loans mortgage

Sacramento Condos, Sacramento Homes

garohd asked:


I am unable to make the payments on my home due to my wife not working because of a sick child and the drop in business. Im in sales and work on 100% commission.
Wescom is who I have my first with.
Just wondering if anyone has successfully done a loan modification with Wescom, and some pointers. also my loan is a fixed 30 year loan

Palm Springs Homes

Inquisitive asked:


House has both husband and wife on deed. Husband has mortgage solely in his name and credit. Few months ago husband refinanced house for a larger amount to pay down debts. Wife then moved out of the house into an apartment of her own and filed for a divorce. Wife doesn’t have income or creditworthiness to refinance or pay for house. Husband wants to remain living in home and continue to pay mortgage.

House appraisal value is the same dollar amount as the loan/mortgage amount.

Wife wants her share of equity out of the house.

Does she have any “leg to stand on” so to speak and what could one reasonably expect her to “get” out of this house?

How does a judge divide equity in a house that doesn’t have any?

Buy out doesn’t seem an option because loan is already soley in husband’s name.

Husband doesn’t want to sell property.

There is a pre-payoff penalty on mortgage. Is wife responsible for half of this penalty?
How someone thinks the wife who left, no longer lived in the home, no longer payed for it, did NOT contribute to the maintenance or upkeep to the home nor it’s appreciation in the years following the divorce but thinks the wife should get 50% of the future sale value ~ is CRAZY.

Thermage Skin Tightening

Sarah P asked:


hiya my brother and his partner have just split up, and are very deeply in debt, as they baught there house when banks were giving out 100% mortgages so they owe alot of money and my brother is deeply depresed due to the debt, and his partner knows this and is pushing him and pushing him. from a recent conversation that his mother had with my mother she said ‘ he hasnt tried hard enough to kill him self’.
But my mum and brother went to see a solisiter and he said that she hasnt got to pay him anything. as she walked out and left him in the house, and they have two loans and the mortgage in both there names. and then they ahve the bills on top of all this and my brother has to pay them but he is unable to afford it unless she helps out. and i wanted to know if some one can walk away from there house and not have to pay a penny?

Thermage Stomach