 Even though the minimum wage is going up next year, can my landlord raise the rent as well? |
| I'm on a 12 month lease and it says the monthly amount, however, I signed the paperwork. I'm thinking it's like a contract so there'll be no change to the amount of rent. She can&#... |
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 My neighbor is selling his home for an extremely low price do I have recourse? |
| My neighbor and I both bought our home about 4 years ago. Both of our homes are fairly identical they are the same size both built in 1949 the only major difference is they have a porch and I have a ... |
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 Having trouble getting deposit back for rented property? |
| My friend is moving out of rented property as the landlord has sold the property. She has had to find another property to move into, but has now been told that she won't get her deposit back for ... |
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 Is the realestate market dropping? I want to buy a home, should I wait? |
| Where can I find motivated sellers, not sellers who are just testing the waters to see what they can get for their home. I want to find a Good Deal! Maybe a homeowner who is in process of foreclosure ... |
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 Whats the best way to sell my house quickly? |
| The red letters are coming more often, think we are gonna have to rent again but would like to move fast! Any tips for a quick turnaround would be great!... |
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 How can I get my deposit back from my old landlord? It has being 5 month already that I left his house? |
| and how can I complain about the fact that the house heating didn't work, what made me and the next tenant endure a lot hardship ?... |
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 Landlord took my belongings then served a 3 day notice wont return my stuff unless i move out? |
| land lord removed my garage door claiming to fix it ,it wasnt broken ,and took all my tools 10,000,00 dollars worth , and never replaced the garage door then served me with a 3 day notice 2 weeks ... |
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 What is the current valuation of my house? |
| 10033 S 46th Street, Phoenix, AZ 85044... |
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 Can my homeowners association dictate what I can add to my property? |
| I moved here (rural Arkansas) five years ago. I have never signed (nor have I even seen) any covenant, by-laws, or other agreements. Now the HOA for my street is objecting to the garage that I am ... |
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 We are currently trying to sell our house, it has been on the market for about 2 months.....? |
| We have showings all the time but just no offers! We have recently lowered the price, we have painted, updated the house although its like new, cleaned carpets, we have really tried everything! S... |
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 Can a landlord install used appliances when new ones were promised? |
| I signed my lease w/o appliances installed yet. I was told new ones were going in, and still have the advertisement that says "New Appliances". Instead I got old dirty ones that clash with ... |
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 What happens when you break your lease and don't pay? |
| I am breaking my lease at my apartment complex. I gave a 60 day notice and I am paying the rent until my very last day. But they are also charging me another move out fee of $865.00. What happens if I... |
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 What would you do if you had 86,000 dollars? |
| I am thinking of buying a house, as in putting about 60,000 down and using the rest for time beings mortgage.... |
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 Is there a reverse mortgage available for people less than 62 years old? |
| I am a US homeowner. Instead of refinancing, I wanted to explore the possibility of a reverse mortgage.All I have seen so far is that this is only good for homeowners aged 62 or more. Is there a ... |
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David M | Is a fixed rate the best type of mortgage at present with interest rates being so high? |
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 |
 
nemesis
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You cannot take a speculative approach, guessing where you think interest rates are heading, as something could happen which changes everything. A good example was 9/11.
You have to look at your ability to pay your mortgage. Could you afford the repayments if interest rates went up 1-2% ? If you are stretched and the thought of a 0.25% rise brings terror, then you need to fix your mortgage. Regard fixed rate mortgages as an insurance product - insuring against rate rises. |
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Antonio Z
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the answer to this question is not a cut and dry YES or NO. It all depends on what you are trying to acomplish with your mortgage. How long you plan on living in your current house. and whether or not you are a strong borrower. For instance 30 yr fixed mortgages are not exactly designed for people who wish to live there forever and pay off their home. If you want to pay off your home I would suggest a Interest Only loan or a World savings Pick-A-Pay with Equity builder loan. 1st off these loans are only good for people who are financially responsible people. The reason is this ex.. say your current 30 yr fixed payment is 1000 a month. For the 1st 10yrs 90-95% of your $1000 is going to interest NOT principle. Why not get a Interest Only loan with a payment of lets say 850.00 a month. Now you are used to paying 1000 but your only obligated to the new 850.00. Why not continue to make 1000 payments puting 150.00 towards your principle every month. Over 10 yrs you have reduced your principle balance 18,000.00 dollars. As for ARMS these right now are good for investors, or people who don't want to be in their house more than a few years or people who are in desperate financial trouble and need to save as much as possible every month. Fixed rates obviously offer greater stability to the borrower since the only thing that can change your payment is taxes and insurance. However remember no matter what type of rate best suites your situation it will cost you equity every time you choose to refinance. |
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bpl
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No, not always. The best mortgage for someone is dependent on that person and their needs. You cannot generalize when it comes to mortgage. The clients needs are what are important. |
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tlc
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Interest rates are NOT high right now - they are quite low as a matter of fact. A fixed rate is almost always best. ARMs and interest only loans are the primary reason for the current foreclosure rates and turmoil - which will get worse before it gets better) . As Ramsey stated, if rates go lower, you can always refinance - well, as long as you have pristine credit. Lenders are tightening their standards bigtime right now. |
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godged
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Interest rates are not high. If you are getting quoted high interest rates, you are working with the wrong lender or your credit history needs to improve. ARMs are not a good option versus a fixed rate mortgage. |
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Alterfemego
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It really depends on your whole finanical picture. Rates aren't high, where were you in 1980's? I was paying 16%! Again, you should talk with lenders in your area to see what programs they offer and what best fit your financial picture. |
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Genki
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It depends entirely on what your financial situation is and what you are trying to accomplish.
Describe your goal and we can better guide you. |
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timothy t
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No.
With the current financial turmoil recession is on the cards. US interest rates will rapidly be cut if USA recession is even a remote possibility, and the global economy will respond. |
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sicoll007
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This is a question that lots of people are asking themselves - we are looking to move, and inflation is low at present and some industry chiefs have begun to complain, so I cannot envisage them going any higher (maybe one more upwards move) but after that, and taking into account the effect of 'lag' I think they are likely to remain stable or come down - so we are thinking of going with a variable rate, because if you fix it now, then you will be stuck with a modestly high rate. |
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Ramsey...
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a fixed rate mortgage is ALWAYS the best way to go. ARMS may get you a better rate from the start, but will steadily increase as the life of your loan ages. Interest rates are still pretty low if you have good credit. And if they go lower you can always refinance. |
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