 When your fixed rate mortgage ends...is it best to switch companies or stay? |
Also do you have to get all the papers and valuations done again to be approved? little concerned as now work part time not full time.
Additional Details
Just a little bit more info...I&#... |
|
 I'm buying a house and want to know which type of Mortgage loan I should get? |
| I will be paying the loan off in the next two years in full so I'm wondering what would work the best for me. T... |
|
 I want to buy a house... eventually? |
alrighty im 21, have a three year old son and i dont have the best credit rating in the world becuase of issues with my ex, which is 100% my fault and i do take full responsibility.
i dont have ... |
|
 Should I not pay the rent until problems are fixed? Or use rent money to pay for them? Details below? |
We rent out house through a rental agency, we pay £475 per calender month. Our rent was due Christmas Day but agency do not open until Jan 3rd, so rent cannot be paid until then.
Problems ... |
|
 Asking a landlord to pay for a hotel room unreasonable? |
| My home currently has its water shut off, and wont be fixed until later tommorrow, I cannot flush a toilet (so no going potty for me), cook dinner, wash my hands, or shower tomorrow morning before ... |
|
 If I was on a signed contract for rent but now am month to month do I need to provide any notice before I move? |
| I am looking into moving possibly at the end of the month and haven't informed my landlord yet and was wondering I needed to provide like a 30 day notice before hand or if I just moved out and ... |
|
 "Blackmail" Offer on our home, did we make the right decision? |
| We have had our home on the market for about a year. Many people want to buy it, but they can't get the loan. We had a new bank manager move to town about a month ago. He has been renting until ... |
|
 Fish tanks in a rented property? |
| Myself and my girlfriend are currently viewing propertys in the UK to move in to. They all say NO PETS but does this count for fish tanks?... |
|
 Usually how many days of grace a landlord give to a tenant, and what usually is the fee for late payments ? |
and penalties for bleach of contract, like make holes in the walls, make the yeard plants die shotong down the sprinlers system... Las Vegas, NV
Additional Details
I am teh ... |
|
 House too big? |
| My husband and I are considering moving in to a 15,000 sq ft home which we already own. (it's a long story...but in the long run it will save us money) Anyone w/ any experience? I'm worried ... |
|
 I live in Geogria and i want to buy a house in Texas .Do i need a realtor in ga. or in texas? |
Also my sister will be staying in that house renting it from me.
Additional Details
In Brownsville Tx. In Cameron ... |
|
 How do I evict someone that's not on lease? HELP!911? |
| This will sound bad but it has to be done. My mother has been staying with my children and I since December. She does not contribute (i am single mom) Long story short, besides calling my kids ... |
|
 How low can house prices go?.? |
| If a house was worth £250,000 last year how much will it be worth in 2 years times..... |
|
 Is the land mine or not? |
| at the bottom of my garden there is a piece of land that i have maintained for over 8 years i have put a shed on the land & looked after fencing ect... iam a council tennant & recently a new ... |
|
 What are some pro's and cons of buying a house that was built in the mid 1800's...? |
| I'm looking to buy a house that was built in 1862 but this will be our second home and we're looking to fix it up a lot. The furnace is new and the siding is about 15 years old and the roof ... |
|
 Question about eviction? |
| Ok my friend as we will call her needed a place to stay so me being the nice person that I am had agreed to let her stay with my husband and I.Well she was awful to live with.She isn't on the ... |
|
 How much are closing costs if I pay cash for a home? |
| I am buying my first home and am going to use money from investments instead so no need for a mortgage. If their is no lender involved how much would the closing costs be on a 285k home?... |
|
 Can i back out of the deal or ask for a better price? |
| I signed a contract with a builder for a new house, this house was a standing inventory with some upgrades already in the house, the price was 300's they paid closing cost and gave me FHA with a ... |
|
 When making an offer on a home? |
| how far below the asking price would you go with an initial offer?... |
|
|  |
Mike L | I bought a house 1 1/2 years ago. Should I look at refinancing based on what has happened to the economy? |
|
 |
 
loanmasterone
 |
I don't think your property has appreciated in value enough for you to refinance at this time. In most areas of the United States houses have depreciated in value.
This would make a refinance impossible. You would have to use your own money to make the refinance work. This would not be in your favor financially.
If you have friends that work in the mortgage or real estate field you might see if they can help with the value of your home. This will give you some idea as to the value of your home and if there is enough value or equity to refinance.
You might try a stream line refinance of some type with your current lender or through a FHA lender. This procedure will refinance your home for a rate and term with no cash out of any sort.
You have to consider the cost of the refinance and when you get this cost back.
I hope this has been of some use to you, good luck.
"FIGHT ON" |
|
v b
 |
Maybe.
If you plan to live in your house and pay on the loan 5 or more years and the interest rate has dropped more than a point, go for it.
It costs time and money to refinance, so you need to plan to be in the house for a while to benefit from the lower payments. |
|
acermill
|
The 'economy' has nothing to do with it. You need to analyze the annual rate of interest your are paying on your current mortgage and then determine if you can reasonably lower that rate by refinancing. If you owe, as an example $200K, you can only refinance the amount which your property is currently worth. If appraisals return a current value of $175K, you would need to show up at the closing table with $25K in cash to pay off that difference.
If you can do so, you can refinance according to current mortgage rates. |
|
golferwhoworks
|
possibly but you may be bringing cash to close if you are short equity in the home. Many people think this is easy but if they put little or no cash down they can streamline an fha note but you will need cash to close in most cases
I am a mortgage banker in TN & KY |
|
Theandysullivan
|
In your situation that may be a good thing. What is your current APR? Talk to your bank. They can tell you. Whatever you do, do not refinance for the amount of your house. Refinance the amount of your current mortgage. That equity looks great, and you may be tempted to get some extra cash. But, you will never get ahead. If your situation has improved substantially you may want to ask about a 15 year mortgage. See if your payments will be close to the same and knock off 15 years of payments. |
|
jrchicago
|
Rule of thumb. Unless the new interest rate is 2% or more lower, do not bother.
Right now rates are very low. If you refinance, here's the catch....the closing costs are around $4,000.
We closed on a house in August. The closing costs were $1,700. I checked with the same lender and the closing costs are now $3,500. We would save around $150 a month from a lower rate. That would take two years to offset the up front closing costs with the savings from a lower rate.
If you can get a reasonable rate and decent closing costs, I would jump on it if it will save you money. We may not see rates this low for some time again. |
|
moki
 |
contact your lender and ask for loan modification. you might qualify |
|
bud68
|
Not the economy - but the interest rates. |
|
Inspector Clouseau
|
Check with your bank. They can look at the present rate you're paying compared to the current rate offered, which has declined significantly in the past year.
Hope this Helps |
|
Steve D
 |
Your refinancing decision should be based upon the new interest rate you can get by refinancing compared to the interest rate you are paying now. The basic rule of thumb is: first, whether you plan on selling and moving within a short term time frame (usually stated as say 5 years and under), and second, whether you can lower your interest 1% or more annually. If the answers are no and yes respectively, you are a candidate for refinancing.
However, a second question arises - as you pointed out, the economy has seen much turmoil sin eyou purchased your house, not the least of which has been the general decline in housing/real estate values. This brings up the question - are you eligible to re-finance. Over and above the credit worthiness questions typically asked and answered in the loan process, you would have to determine whether the value of your property has declined enough to put you "upside down" or "underwater" meaning you owe more than your real estate is worth. If you owe more than the real estate is worth, you will generally be unable to refinance without a down payment big enough to bring the new loan down below the appraised value. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 24 minutes(s) ago
| | | |
10 | 44 minutes(s) ago
| | | |
10 | 1 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 11 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 5 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
9 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
