 What do you use your 2nd bedroom for? |
| My bf and I were wondering if it was a good idea to get a 2 bedroom apartment and why? It's just us, but everyone keeps telling me to get 2 bedrooms because of this and that reason. If we can ... |
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 How much mortgage should my brother pay? |
| My brother and I share a mortgage on a 3 bed terraced house. I now live there on my own as he is on a work placement and has no plans to live in the house in the future. he currently pays 1/4 of the ... |
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 What are the benefits/drawbacks to owning a townhome? |
| i'm looking to buy a new home after mine sells, but, i can get a lot more bang for my buck (space, amenities) if i buy a townhome versus a single family residence. anyone who has lived or ... |
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 MY mother died when i was 14. my dad and her where seperated. I am 22 now, am intitled to the house or part? |
| My dads girlfriend of 7 years has taken my mothers name of her house and put hers on. I wanna know of i am intitled to a part of the house. Pls email if you have any more question i reallu need help ... |
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 Having difficulties keeping on top of my buy to let mortgages.rents too low payments too high.? |
| I,ve got several btl mortgages,rents are miles away from the repayments,and i cant manage to pay the shortfalls.I dont know whether to carry on paying whatever comes in,or hand back the keys.If I ... |
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 Should I just concede and pay or fight it? |
| I live in Ontario Canada, I moved out of my previous apartment but did not give the 60 days notice, I gave in my notice on the 9th of the month not the first. Anyway I moved out and now they are ... |
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 When will everyone realize that poor people with bad credit should not buy homes? |
| A large percentage of the subprime borrowers should never have even tried to buy the houses they are in and the sooner they all loose them to foreclosure the better off the economy wil be. Agreed?<... |
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 Is It A Criminal Offense If I Take Out A First Time Buyer Mortgage and Then Place The Property On Rent? |
Say for example if I take out a first time buyer mortgage and then place the property on rent however I DO declare to the taxman that the property has been placed on rent,......Is this permitted?
... |
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 What are the pros and cons from walking away from your mortgage? |
| If you owe more on your home than what it is worth does it make sense to mail your house keys back to the bank and walk away from the mortgage?... |
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 Should I cancel the showing appts due to trash day? |
| I have 2 buyers scheduled through agents to show the home today, 1 at 1pm & the other at 2:30pm.The garbage doesn't get collected until 3:30pm.It's windy out and the neighborhood looks ... |
|
 Would people be interested in being my roommate if I have 2 dogs? |
| Is this highly unlikely? I have to relocate and start all over, single now, but I am now responsible for our 2 indoor dogs...one small terrier, 3 1/2 yrs. old, but the other is a 1 yr old German S... |
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 Who is responsible for proving that my rent was paid? |
| I became injured last December and was out of work for 3 months. Since April I have paid my rent on time and also paid extra money in order to pay off my debt. After bringing my rent up to date as of ... |
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 Saw a house for sale I liked, how would I buy it? |
I have yet to begin saving, and me and my boyfriend make 70k a year, and its only 150k. How do I begin the process? Anything I should be on the lookout for?
Additional Details
I have ... |
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 Does wearing shorts and shirt in the pool affect the "health" of the pool? |
*The clothes are mostly cotton
*What about spas/hot tubs?
*In an apartment situation is it legal for one of the employ to kick you out of the pool just because you are not wearing a bathing ... |
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W | I've heard a nasty rumor regarding existing fixed rate mortgages, Is it true? |
I've heard that mortgage companies are trying to get new laws passed regarding 30 yr fixed mortgages. I've heard that they are trying to make it so that if any new company buys your mortgage the new company will be able to change your rate even though you signed papers for a fixed rate over the life of the loan. I currently carry an extremely low conventional mortgage with the rate of 5.25% fixed for 30yrs and I recieved this mortgage through a very ligitament bank. My contract states that no matter who purchase my mortgage they cannot change my rate throught the life of the loan no matter what. Obviously most banks don't hold onto the loans and my loan was sold to Countrywide about 4 months or so after the closing and I have been paying them for 5 years. But I've heard that they are trying to make it so they can change rates of fixed loans with new legislation. Is this true? If so can anyone point me to some info regarding it? |
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bostonianinmo
 |
No truth at all. I've heard that rumor on and off since the 1960s. |
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newmexicorealestateforms
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no, don't worry the government can not interfere in an existing contract between two US citizen or legal entities in the US if legally accomplished. |
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Yanswersmonitorsarenazis
 |
Ain't gonna happen. Not ever. Not a chance in hell. There's zero chance that this could happen. If all banks had to do to raise rates on their portfolios was to shuffle loans between themselves, the loans could never be called "fixed-rate" anyway, since they'd just bounce them around every couple months to maximize their yields.
I don't know where you heard this, but ignore it.
Fact is, though, that the U.S. is unique in offering 30+ year fixed-rate loans. Our pension & insurance industry needs those types of loans to buy, to create the stable income streams their obligations require.
And they couldn't invalidate any existing contracts anyway. |
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Blue October
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Trisha -
listen to New Mexico --He has the right idea.
and besides...did you listen to the Bush speeh yesterday? that would have answered this question. "Not going to do anything else that puts the housing industy in jeopardy".
good luck :)
New Mexico gets my vote everytime |
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devilish1965
 |
They can't do that. I ahve not heard of such a thing. |
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shelcom
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Fixed rate loans are fixed. Stop listening to rumors. |
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Terry S
 |
Relax!
Contract law says no one can go back and change the conditions of the contract UNLESS SPECIFICALLY STATED IN THE CONTRACT.
You could sue them for breach of contract and win big time. |
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AnOrdinaryGuy
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I haven't heard of such a thing and I seriously doubt it would ever pass, because if it did, no one would sign for such a mortgage again.
Your best bet is to contact your congressman's office to ask if such a proposal has been introduced. |
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geeloeeloee
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If they signed a good-faith contract with you, you've got them on breach-of-contract grounds if they try that crap. Your mortgage is safe, because it's grandfathered in. Banks do not have the balls to try to rachet up existing loan rates.
I think your rumor is just that. The bank assesses its fees, charges its interest, and sells the loan to someone else, who must abide by the letter of your contract with the original bank.
Can you imagine how many empty houses there would be, and how many irate former homeowners would be flooding the capital, if Congress actually approved something that outrageous?
If you want a recipe for pandemonium, all you have to do is pull the rug of security out from under a few million people. That'll do it.
Where'd you hear something like that, anyway? Hopefully a comedy web site. The mortgage business would be committing suicide to try to scam people at this period in history. |
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PepsiLime
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The mortgage companies might want to try and do that, but I think that would get shot down totally by Congress. A "fixed" rate is just that, fixed. The rate can't be changed. |
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bull_rooster_aardvark
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I wouldn't be surprised if they tried adding this clause onto newly created mortgages but I don't think they would dare do this to existing mortgages. So many millions of people would be affected that it would be a disastrous move politically. Dont worry about this, for an existing mortgage. |
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