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What do think the Mortgage Lenders and the Government will do about the rising defaults and foreclosures?
Posted on January 20th, 2012 No comments
Question by ricknasty: What do think the Mortgage Lenders and the Government will do about the rising defaults and foreclosures?
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 bonding 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.
Best answer:
Answer by bob
I dont think its as bad as the news makes it out to be.If everybody had to sell tommorrow, yes, but most people are not in that predicament…just beetle on and enjoy the house for a few years.I compared a 40 yr to my conventional 30 yr mortgage, and it only saved me 20 bucks a month, which was hardly worth the effort….i wouldnt consider any increased length mortgage unless the payment went down 100/150/200 buck.I did hear today that many of the reputable mortgage lenders are temporarily reducing their interest to %, if the buyer needs a little breathing room, rather than foreclosing.I don’t think the “goverment” needs to do anything, they will just mess things up…the market will correct itself….the period of 2001-2005 was not normal.
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Q&A: How do you feel about the state of mortgage loans right now?
Posted on August 7th, 2011 No comments
Question by LittleMomma: How do you feel about the state of mortgage loans right now?
I’m in the mortgage business, and I’m curious how the worldwide public feels about today’s rates and ability to get a decent loan.
Best answer:
Answer by sophieb
since some mortgage loans got people in disturbed recently and caused their homed to be repossessed, I’m not to happy with the mortgage businesses right now. Mortgage loans are still not provided to everyone who wants to own a home. I don’t know the answer to that. Maybe that’s just the way it is.
What do you think? Answer below! -
Q & A: Who to talk to about mortgages for first time home buyer?
Posted on July 25th, 2011 No commentsquestion by katie-bug : Who to about mortgages for first time home buyers say My husband and I are ready to buy our first house. My grandma is selling her three-room house, and it will be perfect for us, but we are totally clueless! We have never bought a house and have neither our parents, so that we do not know what we must do. Where should we go to see if we qualify for a loan? If our regular bank be able to help us or we should to a larger mortgage company? ! Thanks for the help Best Answer: Reply by Iffy
Yes
with your bank, your checking accounthas to watch know better? Leave your answer in the comments!
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Q&A: How do I find out if someone is using my name for mortgage loans that I know nothing about?
Posted on June 13th, 2011 No comments
Question by Julio: How do I find out if someone is using my name for mortgage loans that I know nothing about?
I was looking up my credit report online and for the questions to make sure I was me I was asked about mortgage loans in II different years that I know nothing about. I’m renting an apartment and haven’t took out any loans that I tin think about
Best answer:
Answer by hot chick
not sure though
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What do you know about Mortgage Lenders of America?
Posted on May 21st, 2011 No comments
Question by Jessica L: What do you know about Mortgage Lenders of America?
My husband and I are an immature military mating looking to buy our first house. We can’t be approved for a mortgage loan through our bank because my husband has only been in the Navy for 1 year (they require 2 years in the same field). We have applied through Lending Tree and recieved a really good offer from Mortgage Lenders of America. Has anyone else worked with them? I’ve visited their website, but want to know more information from someone who has worked with them personally. This is a HUGE investment for us, and we don’t want to make a mistake. Thanks in advance!
Best answer:
Answer by mikegs400
I don’t know that Lender. However, I don’t recommend an ARM (adjustable rate mortgage) loan. The interest rate does go up….get a fix rate loan if you plan to live there for a while. PS. put some money pop when you buy the house…..if not….when you sell your home… your loan might be higher than the home what the house is worth….you end up paying money when to sell the home.
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