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| I moved from NY to TX in 8/07. My landloard in NY still refused to give me my $1200 deposit. I called + email. He keep postponing it. Now he don't even answer my call + email!!!! It's ... |
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 Question about buying a flipped house? |
The seller bought the house in april 07 for 91,000.00
They maybe put 10,000 into fixing it up and now want to sell for 134,900. Is this justified? Can I lowball and get a much better price?
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 Closing Gifts? |
I want to get feedback on what you would expect from a Realtor as a closing gift when you purchase your home. Thanks
Additional Details
wow great answrs...I am shocked at your gifts! I ... |
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| We want a house because of a new baby coming. Our rent is $580 a month for 500 or so square feet, is that a bad deal? How can we break the lease. The lease says if we do we must pay 200 plus the 580 ... |
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 If my landlord does not pay his mortgage with the rent money I give him? |
What rights do I have if I were ever to be evicted?
Additional Details
Sorry, I should have added that they bank may want to repossess the property. Nothing whatsoever to do with me ... |
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 Do you think UK property prices are unreasonable esp. for single people who want to buy property on their own? |
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| My credit isn't strong at all.....I can pay a mortgage...just don't have any money for a down payment....Help.... |
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vern01 | First time buying a house and i feel like i'm getting screwed with my payment, any advice? |
i am in the process of buying the house we've been renting from my mom. she purchased the house for 320 and it was just appraised for 300. i'm taking over what's left so i'm buying it for 270. when i first met with my loan officer from countrywide i told her i didnt want to pay more than 1700/month. in the end it came down to 1850/month at 6.1% @ 40yrs fixed. i just received a fat stack of papers from another lady from countrywide saying that with private mortgage insurance my payment will be 2100! that isn't something i'm looking forward to paying each month. and as i was reading through that packet my rate was locked in at a later date at 6.4% i thought that by going through one of the largest home loan companies i'd be taken care of, but my loan officer sucks. she never called me to update me on my loan status, etc, until we had to contact her boss and ask what the hell was going on. i've read to go with a mortgage broker vs. a bank. is countrywide a mortgage broker? |
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Reba G
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The only reason the loaner requires PMI is if you have not put down or paid down the loan to 80% of appraised value of house. You can cancel it once that ratio hits (you have paid down note or value of house goes up, usually a combination of both). Do not, I repeat, Do not do any crazy mortgage just to get this house. Go 30/15 years fixed. If you cannot afford it, don't buy it. See if your mom will finance the note. She would get a great return on her money, better than any bank. Don't let unscrupulous creditors take advantage of you! Stand your ground! |
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matzael
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Countrywide is a direct lender, not a broker. It seems terrible that this lady isn't telling you what's going on. Honestly I'm not sure that the total payment won't be higher than $2,100. It doesn't seem like she included your taxes and insurance payments yet.
You should check on the loan amount and see what type of fees she is charging as well. Ask her for a copy of your Good Faith Estimate. This will let you see what fees Countrywide is charging, and also if that payment includes your escrow account for taxes and insurance yet.
Based on your experience so far I would definitely suggest going with a different broker or a different bank regardless of the fees Countrywide is charging or if the number is correct yet. I've been through the same process and there is nothing more frustrating than feeling like you can't get a hold of your loan officer. It's just not worth the additional stress when going through a transaction this big. |
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pookiepoo
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CountryWide is a mortgage lender not a mortgage broker.
A mortgage broker brings a lender and a borrower together. |
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tita
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You must pay PMI unless you have 20% equity into your home. In your case that would be $60,000. meaning your loan would have to be under $240,000. it's a huge chunk to add on to your mortage amt. Look into other loan programs thru your local bank. I just bought my first home and with the help of my local loan officer knowing which programs i qualified for my rate is 5.875% locked for 30yrs, no pmi, no downpayment, on a $180,000 new condo appraised at it's value, my monthly pymnt is under $1200. I qualified for all these programs and i didn't even know about them. look into the "american dream down payment assistance program" online, you may be eligible for up to 5% downpayment assistance. there are tons of loans out there, don't get stuck, foreclosure rates are at an all time high right now... Good luck! |
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angela
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I have had loans with banks and done well. By any chance have you gotten a sheet from Countrywide showing the closing costs? You might be shocked when you see those. I talked to a rep from Countrywide about a loan of $80,000 - 90,000 and the closing costs were going to be around $5,000 - 6,000. If it's not too late you might want to call some other lenders. Sometimes mortgage brokers have higher fees than banks so be careful. |
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matsonb
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Your rate is good.... your pmi is what's making your payment higher, but that's the price you pay for putting no money down. Have your Loan Officer (or another company) give you some no PMI options so you can see which one gives you the lowest payment. Countrywide does not broker, they lend only their portfolio of products. if you are buying on the east coast, try choicefinance.net http://www.choicerealestate.net |
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intensity92000
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If u are a first time home owner u should see if u qualify for a first time home owners loan. That could help u out and lower what u would be paying.......I was also told to get on a fixed rate is a good idea since things shift each yr or more...a fixed rate means u pay the same it wont go up or down. Anyway I should really check around for a mortgage broker and talk to other home owners to see who they go through and how they feel about the broker they have. |
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wiseob3oo
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Countrywide is a mortgage broker and one of the largest in the United States. Yet I do not recommend it. My parents had their mortgage with this company and it was a drag. The loan officers and known for not following up and just bringing you the bill at the end. One problem we had with them is that one month they increased our mortgage payment because according to them we had no insurance and they provided it for us. WE DID HAVE INSURANCE, and we had to fax them the copy and make sure they confirmed that they had received it. This was done about 5 times a year (consider there is only 12 months). I DO NOT recommend Countrywide, try going with another mortgage company or even try a bank, yet MAKE SURE you get a FIXED MORTGAGE.
By the way, NOT the best time to finance. |
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Tom S
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When the sales person quotes you a mortgage payment, they don't include taxes and insurance in order to soften the blow. If you don't have at least twenty percent equity, you're stuck with the PMI.
Best thing you can do is shop around as of today, I think that 6.4 is a little high. |
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Searchlight Crusade
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First off:
NEVER BUY A PROPERTY OR ACCEPT A LOAN BASED UPON PAYMENT!
If you do not understand this rule, and the reasons for it, chances are you shouldn't be buying real estate. Many people shop based upon payment, and they get burned.
Second, you're trying to rely upon reputation as some kind of silver bullet. It isn't. Everything depends upon the individual doing the work for you.
Now, to your specific situation: You're borrowing the money you're borrowing. The loans that are available are the loans that are available. The lower the rate, the higher the upfront cost. Period. Nobody can get you a loan that lenders don't want to make. End of story.
You're borrowing $270,000. If you've got good credit, 6.125 thirty year fixed is available with one retail point or less (at least here in California) The payment is $1640.55, and the upfront cost should be around $6000 total. If you don't have 20% equity, you're going to pay either PMI, or have your loan split into two pieces. Second mortgage lenders right now do not want to exceed 90% of the total value of the property. If you aren't putting 10% down, therefore, you're going to have PMI. It can be built into the rate, or it can be a separate charge, but it will be present. Period, end of sentence. How much the exact charge is will depend upon a lot of factors.
That's the reality of the matter. You can be an adult, and face up to the real costs, or you can go talk to someone who pretends they don't, and get taken for an awful lot of money. There's a very large number of people out there who took the second alternative right now. You may have heard about them if you've been following the news. Most of them are trying desperately not to lose their properties and everything else. Sometimes I can help the ones that come to me. Sometimes, all I can do is tell them how to minimize the damage. |
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Carolinahomerates.com
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you might want to look at an FHA mortgage...the PMI payments are really low. If you have less than 620 credit score then your PMI payments will be through the roof.
Countrywide is a BANK. Banks lend money just like a mortgage lender.
40yrs fixed at 6.375% is still very good. |
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Harvick 29 Fan
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Countrywide is usually a pretty honest company, in my opinion. I have a countrywide loan and I got locked in at 6.12% for a 30 year fixed mortgage.. They probably quoted you at 6.1 on your pre-approval, but when they did the full mortage app, your rating went up to 6.4%. They should have advised you of that . Also, what I didnt see you mention is the homeowner insurance and the property tax that should be rolled into your mortage payment for escrow. Is that included in the 2100, or will the property tax and homeonwer insurance incrase that even more. You should defenetely find out. |
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