 Where should I put my extra money? |
| I'm saving extra money every month. I have about $52,000 in student loans @ 5%. I have a home mortgage of $150,000 which is an 80/20 Interest only loan 5/1 ARM. 80 part of loan is at 6% and 20... |
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 How long should a person keep bank statements or utility payment records or income tax returns? |
| We are trying to clean out a storage facility and throw away as much as possible. I don't want to throw away something that would be important but i'm ready to really purge these files.... |
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 I NEED to raise 400.00$ by June.? |
| Im a 12 yr old girl. Give me some ideas to make it please?... |
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 Ok I need some financial advice . My husband and I? |
| have been trying to pay off our credit card debt for 3 years now and we are barely making a dent. I have went through and cancelled all our extra things like trash service ect. and bargained with ... |
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 How to deal with overspending??? |
Additional Details
can u be nice and answer this ? with sincerity i need answers!!!!!... |
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 Can you reccommend a lender that would help me? |
| i need a loan for £5000, i have bad credit, a tenant, and am slipping into debt and need to claw my way out, i havent been doing many hours work to help my partner financially, but am now job ... |
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 Fed up with being asked if you want loans and credit when you go up to the counter?? |
| Am I the only one that is fed up with this? You go into *your* bank and the first thing they ask you is "are you interested in another credit card". You go into the Post Office for one ... |
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 I need some quick cash for about 6 weeks.......? |
| I have run really low on my cash. Is a car title loan a really bad idea? I'll have a cash flowing bank account the first of Oct. but thats not helping me now. The only asset I have is my vehical.... |
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 Is there anything wrong in being very cautious of your spending? |
| I use coupons, catch sales, remember I am working with very little money here, recycle. When I have the money yes I will buy brand new name brand I have learned how to put outfits together I do not ... |
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 ANSWER THIS QUESTION, please? |
| there is a company or a afew companies that say you can order your certified copie of your birth certifacate through them and will recieve it within 24hrs or some say 3 to 5 business days. would you ... |
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 How much money saved as a back up to survive, you know so you dont become poor? |
im thinking around 10,000 pounds at least
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giddy up and how much is that ... |
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 500 Billion Dollars!? |
| What would you do with 500 billion dollars?... |
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 If you had $35,000 in credit card debt and got a check for $20.000, would you do with the money? |
yes, i am in that situation. Is it best to put 20K in cash straight towards paying down credit card debt?
Additional Details
Alternatives would be:
1) save for a rainy day
2) ... |
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Dr Drop Dead | Would somebody on £100000 a year be able to afford a million pound house? |
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Mr Happy.
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if i was on £100000 a year, then i'd be looking at a house worth alot more than a million!!!!!!! |
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Fran T
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Depends what savings they had to put down as a deposit. |
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fargo
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It depends what deposit you have? You could have £600k deposit so yes you could afford it |
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Chris A
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Depends - the maximum amount you can get a mortage for is 3.5 times the value of your maximum wage. Because they are on such a high wage the bank may extend the upper limit to 4.
So the maximum mortage they could get is £400,000. If they had £600,000 of savings then they could definately afford it.
If you are assuming a £1,000,000 mortage - it would not be possible, unless you came to an agreement with the bank manager, e.g. a 100 year mortage, that is available to very poor people and people who live in high-value areas, e.g. london. |
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Answerer
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With a proper down payment. |
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edintomo
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Generaly you can lend 3.75 times your salary and take out a mortgage to 90% of the property. So in answer to your question, if it was a single person mortgage, then no. Because the most that you could borrow under normal circumstances would be around £400000. At the end of the day, it's whether you can convince the lender if you can afford the payments.
Without the problem of whether you would get the money from a lender you'd possibly be able to afford it. At something around £3400 per month over 25 years, with an income of £6000 per month after tax as long as you had no other commitments kids, partner, car etc.... |
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Tara
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Would need a big deposit, most banks will lend around 4 times someones salary. |
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Oh no!
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No |
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dayle123
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For this, you have to consider how much years it would take to make £1,000,000. You must also consider how much money would be spent on everyday items and services like groceries tax, healthcare etc. If you spent £25,000 a year, then you would make a gross amount of £75,000 per year. It would take 13.333333... years to make £100000. This means it would take 14 full years' of pay to have enough and pay for that years' goods and services. You should also realise that you will need to maintain the £100000 house and still keep up with old payments etc. |
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Dan O
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Speak to your mortgage advisor! |
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J Bace
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Definetly NO. |
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cancerman
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And I'm kidding here....but my house weighs around a million pounds, but my bank account is lighter than air. |
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cazmo
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no |
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MeatloafRules
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Not for very long. Debt service (principal and interest payments) on the mortgage would probably be not far below the 100,000 number. Even if you got an interest only deal for a period of time, you still would end up paying a high percentage of income to service the mortgage, and you would have all the costs of taxes, insurance and repairs on top of that.
Sounds like a bad economic investment, given the income level. |
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Dragonfly
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possibly with a good mortgage, you'd end up paying loads in interest |
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