 Why should I rent or buy my first home? |
| I'm 27 and I just gotten married. We are looking into getting a house now. The only problem is that I am in the Army and stationed in Italy while my wife is located in Texas. Once I leave Italy I... |
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 How can I find a cheap apartment in Washington DC? I'm planning to relocate from Detroit.I? |
| I can only afford to spend about 300 dollars the first month, more after that *once I get paid*. I'm leaving Detroit within the next month *hopefully* and have to somehow arrange housing amidst ... |
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 Would a bank make payment plans for me if i owe ? |
for overdrafting fees i want to know so the y dont take my whole check cuz i need the money to pay the rents holla back anyone soon!!
Additional Details
thank ya'll for helping so ... |
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 If I complete a rental application and get approved, does that mean I am now bound the apartment? |
| I am now waiting on more paperwork to fill out but I would like to know if this application means I've signed my life to this apartment and there's no turning back. Currently, I am waiting ... |
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 How to handle a Sect 8 tenant who is angry and irrational? |
| A Sect 8 tenant receiving disability moved into my unit recently. This tenant demanded to move in early before rent check was received, called at 11:30 am that night, made a list of 50 or more items ... |
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 ARM vs. Fixed Rate? |
We can either get a 5/1 ARM or my parents can loan me money and we can get the fixed rate for 30 years. Which would you do right now???
Additional Details
I will pay my parents back by ... |
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 How do I get into real estate business? |
| Everytime I ask around to find out how to get into the business they always tell me you need a lots of investment. It is very discouraging..so I need help! Is there a webstie?... |
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 I am moving into a new apartment July 31st and came to agreement that this would be okay. Apt managemis tryin |
| to change move in date to the 20th of july whis is total bs and will cost me an additional 400 dollars that I am not willing to spend. My rent is paid through the first at the place I live at now. I... |
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 Can a tennant give a 30 day notice and assume the security deposit will be used? |
| When you give a 30 day notice for example of the 27th, on the 1st do you still have rent due? Is it fair for the tennant to ask that the security deposit be used as rent?... |
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 Question about refinancing my home.? |
| Say, for the sake of arguement, that I currently have a mortgage for 100K. I heard that I can refinance my home (at whatever the current market interest rate is, which just happens to be lower then ... |
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 My Mother in law has messed up our mortgage payment and I'm worried? |
OK this is going to be long so bear with me.
Last year we fell into arrears with our mortgage. We went to court, a suspended possession order was granted, but we managed to raise the ... |
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 NEW home buyer question?? |
| Im looking to purchase a new home if i find a house selling for 80,000 but worth 100,000 can i get the loan for what the house is worth so i can have extra money to take care of other things???does ... |
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 I'm looking to move down south. I need suggestions and/or recommendations for which city to move to? |
Hello,
I am currently a resident of Buffalo, NY. I have about a year and a half of school left (I'm in grad school).
Anyway, 27 years of cold weather, high taxes, and a ... |
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| People who rent - I need an idea of how much I can expect to pay on bills each month? |
It will be a small house, not sure which council tax band. I know it varies, i just need a rough estimate
Additional Details
I'm talking about bills, beside rent. i.e water, gas, ... |
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Lester G | What bad things to look for when refinancing your home? |
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Ya-sai
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What consequences - delay in payments or paying everything back in full before the date agreed |
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mazziatplay
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It is important to understand your reasons for refinancing in order to make certain that you are making a good decision.
A lower interest rate is valueless if your costs to get that lower rate mean that you won't recover those costs through the payment savings in a reasonable amount of time. If you have a history of changing your mortgage needs every 3-5 years it doesn't make sense to accept a loan that won't allow you to recover the costs of refinancing in a longer time frame unless the additional cash flow is an urgent necessity.
Remember, a quote is just a quote. Your rate isn't secured until it is locked and rates can change as often as several times a day. It is important to work with a loan officer with whom you have developed a strong bond of faith and trust. Ideally, this person is interested in a lifelong financial relationship with you and so is more interested in what is best for you than just how much they are going to make on this one loan. Be wary of the "I can get you the best rate" sharks. |
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richbitch
 |
When refinancing your home make sure your interest rate is lower and also look at points, if any, and decided if refinancing is worth the money and how long will it take to recoup the closing costs, which can be in the $4000 range or more. |
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newmexicorealestateforms
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Here are some sites that discuss issues in lending
HUD Real Estate Settlement Procedures Act: RESPA the entire statute
http://www.hud.gov/offices/hsg/sfh/res/respa_st.cfm
HUD RESPA law prohibition on kickbacks
And unearned fees
http://www.hud.gov/offices/hsg/sfh/res/resp2607.cfm
HUD Revised Borrower’s Closing costs guidelines: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=06-$[no]&op1=AND&SECT1=TXTHLB&SECT5=MLET&u=./hudclips.cgi&p=1&r=23&f=G
HUD Sample of Good Faith Estimate: http://www.hud.gov/offices/hsg/sfh/res/resappc.cfm
The HUD-1 closing costs form explained: http://www.alta.org/consumer/hud1.cfm
FTC: High Rate – High Fee Loans (know your rights): http://www.ftc.gov/bcp/conline/pubs/homes/32mortgs.htm
Real Estate Settlement Procedures Act (RESPA) [about closing costs & settlement procedures]: http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm
Once per year free credit report from all three credit reporting agencies:
http://www.annualcreditreport.com/cra/index.jsp
Predatory Lending information from ABA: http://www.aba.com/Consumer+Connection/CNC_pred1.htm
Uniform Residential Loan Application: http://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1003.pdf#search=%22Uniform%20Residential%20Loan%20Application%22
Mortgage Loan Fraud a report http://www.fincen.gov/MortgageLoanFraud.pdf
Lots of research but you should be able to protect your self pretty good with the information on these links.
Best of luck on your research |
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blue
 |
Right now the hot buttons are ARM's.
If you make application to a lender, the lender is required to send you a good faith estimate and a truth in lending form. The good faith estimate is an estimate of the closing costs. Review that for any large ticket items and discuss those with your lender. Origination fees are the amount the lender pockets at the close of your loan.
The truth in lending takes the costs of the loan and translates those costs into APR. That final Apr is what you should use to compare different lenders. |
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Larry
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Always look at the APR, not the interest rate. That reflects the true cost of the loan to you. |
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jamesPurple
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High interest rates |
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