 What Will Happen to Mortgage Co.s' After Foreclosures? |
| We live in CA and have 2 homes that will be going into foreclosure. Countrywide will not negotiate with us. What will happen to them when they only get maybe half of what all these thousands of ... |
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 I want to buy a house,and i am paying off debt.Should i close credit accounts or leave them open? |
Specifically i am talking about credit card accounts. I opened up accounts to bulid credit,and now i am paying them down. Im looking at about a 1 year timeframe.
Should i leave the accounts ... |
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 Want to help my brohter pay his mortage.? |
hi,
I live with my older brother in his house for free. Now I graduate from school and have a job nearby. I may still stay in his house for a while, but since I already have a job, I figured I ... |
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 What are the laws regarding what my old apt. complex can charge me for replacing my carpet? |
| There was some damage in the bath and it was noted in my move out. She said she was going to get her carpet guy to quote it for repair. (I had the carpets cleaned the day before my final walkthru). N... |
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 Is is rude to request to not ride with realtor while looking at homes? |
| Husband and I are driving 3 hours away to look at some homes soon and the realtor wants us to ride with herin her car. The rpoblem is-We have done this before and we cant really tell how we really ... |
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 Why won't my house sell (asked before but with more info this time)? |
Okay, I asked this question earlier but evidently didn't share enough specific information.
My dilemma: my house has been on the market for 13 months. I have lowered the price ... |
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 Can I move the right of way to my neighbors house? |
| There is an existing right of way to my neighbors house directly behind my house. I want to put a nice new driveway in that will connect the main road to their house but not go directly by my home. ( ... |
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 My husbands mom passed away and he wants to sell her house ...? |
| she had alot of financial troubles how can we find if there are any liens on the property?... |
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 What's the best company to get a mortgage loan from these days? |
Additional Details
Thank you everyone for answering, I don't have a great credit score we could say that is slightly low.... |
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 Apartment question? |
I make $1600 a month. Could I afford a decent apartment on my own?
Additional Details
I live near Philly. I'd be willing to live in either the surrounding suburbs or in the city.... |
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 Can a mortgage company close on my loan even if I'm making the payment obligations? |
| If the worst happens (i.e. panic, stock market crashes, all banks go under), is there any scenario in which the company that owns my mortgage could close on my loan even though i'm making the ... |
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 I bought a house with my boyfriend and both of our names are on the mortgage.? |
| If we ever break up how do we handle the situation with the house. Do we have to sell or is there options for one to keep the house and the other have their name taken off the mortgage.... |
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 Can a renter refuse to give me access to show my property ?? |
| My old renter is leaving my home and I have new renters that want to look at the property. I called my old renters and asked if It would be O.K to show the property and she refused. I dont know my ... |
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Bryan W | Is it possible to buy a home with nothing down and zero out of pocket expenses? |
I see all of these info-commercials that say you can buy a home with nothing down and zero out of pocket....Is this really possible? Can this be done without being expected to pay outrageous monthly payments? What if I have mediocre credit? Do these info-commercials only focus on cash-flow business or can I buy for myself without being expected to sell the property immediately? |
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roy_s_jones
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It is possible but you are better off with FHA loan (FHA insured loans)
http://www.hud.gov/offices/hsg/sfh/fharesourcectr.cfm |
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♪ ♥ Sydney ♪ ♥
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I don't really trust these infomercials, HOWEVER
Many states and cities have First Time Homebuyer programs that would give you a mortgage for very little. Sometimes you only need to come up with a 3% downpayment and there are even others that give you 100% financing.
Find out what's available in your area. These programs are specifically designed for people with a moderate income who may not have stellar credit. You may need to take a simple homebuyer course, but they are there to work with you and get you the mortgage you need. |
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1001Questions
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yes, everything is possible. read the book by robert allen no money down. |
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CHEV
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YES it's possible try www.jicinvestments.com they will show you how for only $15.00. |
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xrionx
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Yes you can. I dont recommend it.
The less you pay now, the more you pay later.
They can give you a 1st mortgage at 80% loan-to-value (ltv)
give you a 2nd mortgage at 20% ltv
probably charge you PMI, which is insurance to cover the lender in case you dont make your payments (costs about 300$ a month)
you will be charged higher fees, points, closing costs
all fees will be financed into the loan, so you pay interest on top of the fees (which ends up even more than the fees over time)
you will probably only be able to afford an interest only loan this way, which means you only pay the interest, the principle never goes down, so its like renting your home, BECAUSE THE BANK OWNS 100% of it.
be very careful about this |
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Dan
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Absolutely you can buy with zero down and even no money out of pocket. You need to negotiate seller to pay closing costs and some mortgage brokers will even allow the appraisal to be included in those closing costs. Keep in mind you would need a 580 mid score to qualify and the higher the score the lower the interest rate. You can avoid mortgage insurance by doing a 80/20 loan and thus saving a couple hundred bucks a month. I recommend working with a mortgage broker as they have hundreds of lenders who will compete for your business from the broker. I personally am not a fan of the info-commercials as they are not selling their ideas and what works for one doesn't always work for everyone else. I recommend sitting down with an experienced Realtor and a CPA so you truly know what your getting into. I hope this helps you but if you need any help or have any questions feel free to email me tadgeman@yahoo.com. |
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MortgageGuy
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Yes Bryan, there are programs out there acalled 100% financing loans..
Usually they are broken up into two loans...80% 1st mortgage, and 20% 2nd mortgage...
As for the payment, it really depends on your credit score...
You need at least a 580-600 score to qualify, and the higher it is above that, the better rate you will receive...
If you are interested in hearing more about what you qualify for, feel free to give me a call..
My name is Jason Fry, i work for Providential Bancorp, a nationwide nortgage lender.. Call me at 312-264-6448, or email me at jasonf@providential.com
thanks, and good luck!
Jason Fry
Licensed Mortgage Consultant
Providential Bancorp
312-264-6448 |
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Searchlight Crusade
 |
John T. Reed debunks the vast majority of those here:
http://www.johntreed.com/Reedgururating.html
This is not a blanket recommendation for or against Mr. Reed in general, but his debunking is worth reading.
100% loans are easy, but I can't imagine an agent allowing a client to accept an offer that doesn't have a good faith deposit. |
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penny
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well sorry but i have been to a bunch of siminars and the main reason they give them is to sell their ideas so if it were true why do u have to pay for their stuff and if u pay for their stuff in my opinion it was paying something down if u know what i mean there are ways to get grants but couldn't tell u right now i'm reserching it tho if i find out how i will not charge u for the answer
lol hope we both find a way tho good luck to you! |
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Jonathan S
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Yes, it's possible. As long as you have a 580 or higher score and a job, you're in good shape. You can also get a seller's concession to cover the closing costs, so the only out of pocket expense is an appraisal (around $300) |
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Openthathouse.com
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This is how it works:
Get a 100% financing as a 80/20 loan. Mid FICO score must be at least 620 Full Documentation (w2) or Stated (1099).
Than you must get the seller to write into the purchasing contract (print this)
Seller to contribute up to 6% of the Buyers recurring and nonrecurring closing cost. This will cover Title Fees, Loan Origination fee's and other costs on the Good Faith Estimate.
The only out of pocket you can pay for is a Home Inspection. That usually costs about 350-500.
So technically if you dont want the Home Inspection than you can purchase a house with no money down. |
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