Samantha S asked:


I have a friend who’s father and grandmother have both now passed on. The Mortgage was in their names. Their mother is still residing in the home (beign the wife of the owner, but not on the loan in name).
What happens, if anything?
The loan is being paid, and I am guessing as long as it is paid they won’t be demanding anything.

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ricknasty asked:


They have to do something about this otherwise more defaults are going to happen. Do you think they are going to create some breaks on mortgage financing, such as lowering rates and offering 50 year fixed loans, so many people are able to afford the payments. Or are they just going to let more borrowers go into foreclosure? If this continues to happen, we may see a depression coming in the near future.

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Zhang Ganfeng asked:


I am a University student studying commerce(concentrated in finance). I am having this thought of becoming a mortgage broker. What are the steps to become a mortgage broker and how long does it take to become one?
Thanks!

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that username asked:


I really need good options on how to refinance a home mortgage with negative equity. Currently my mortgage wont allow me a refinance. Any options on what i could do?

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BBQ Dragon asked:


Since I do not have much cash to put down on a mortgage payment and already owned and paid off my first mortgage, do I have to go with FHA or a high PMI mortgage again? I found out that the bank values the house by the appraisal amount give, so if the appraisal is amount is 20% more than amount of the loan I’m applying for, then can I go Cash Conventional?

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mshuski asked:


I want to rent out my home and buy a new home. When the market gets better I plan on selling it. It still has mortgage. SO will I be able to get a second mortgage? I have some debt but plan to pay off completely. The house I want to buy will cost less. Also will I be able to deduct property tax and interest for both mortgages?

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radioactive_babywipes asked:


My credit isn’t bad or fair. It’s good, just below excellent. How good does your credit have to be and what other factors are key to successfully obtaining a home mortgage loan?

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Holly Bump asked:


I have never owned a hOme so I don’t know how much interest or taxes are. Anyways, how much would I pay per month if j was planning on buying a 500,000 house and I made a down payment of 200,000 and had a 30 year mortgage.

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Kayak Queen asked:


There are credit issues and the loan package has gone to underwriters. We’ve been dangling for nearly 3 weeks without a ‘yes’ or ‘no’ on our loan status. We’re considering taking our data and seeking another mortgage company to service our loan, but we don’t know if the long wait is normal or if we’re being put on someone’s “back burner”. Are we being strung along or just impatient?
Thanks for all the answers! We were able to resolve the problem today!

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fredbarbs66 asked:


I plan on retiring in a couple of years and then relocating. I will not be working after I retire. Since most mortgage qualifying information revolves around one’s employment income, is it possible to qualify for a mortgage based only on my savings and payments from Social Security?

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sonu asked:


What questions should you ask your mortgage broker or bank when getiing a mortgage?

Like in regards to fees, points, prepayment etc..

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