 Is my landlord trying to rip me off? |
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 So I am buying a house and I'm just curious...? |
| I went through the pre-qualification process, found my home, made an offer, signed the purchase of sale, and now have givien the bank my papers to complete the process. I am just a worry wort and ... |
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 Can my landlord raise the rent when another person moved into the extra bedroom can he do this? |
| There are three of us on a lease for a four bedroom house. The advertisement said that it was a four bedroom for $1350. Now that we had a fourth move in he wants to raise the rent $250 dollars ... |
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 Im getting a divorce and our house is not selling......? |
I am considering re-finacing the whole thing in my name and renting it out until the market improves. Will this hurt me more than it will help me? I need some professional advice.
Additional D... |
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 Should I Be Worried! Please Help - About to Purchase Condo? |
Ok, first thanks for reading this question.
My wife and I purchased a Condo Last Year in Chicago for 360k, this Condo was under construction and will be ready in July. We already gave 36K ... |
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 Real problem, so I need real advice...? |
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 Am I liable if I have no lease? |
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 If 30 day notice is given, is rent still due? |
| I need to move out of my current apartment because the sewage line backed up into the apartment and there was septic sludge sitting on my carpet for an entire day. They sent in a water extraction ... |
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 Could you check my English please? |
| In our town, flea market is held every thursday. Going to flea market and expecting thursday give me lots of fun irrespective of buying. It's held on my way to work so I drop by twice times when ... |
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 Where can i find a new place to live at?? |
| i just moved to Michigan, and i finally got back in school and started a new job... so for about 2 weeks everything has went fine... until last night when my roommate came to me and told me she didnt&... |
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 Why is it so hard to buy a house? |
| im 29 and have rented for some time, i now want to buy house with partner, shes on good wage (ish) mines not that good and i have debts of about ten grand, been told can have mortgage of 120,000, but ... |
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 How do 2 people buy a home together? |
| For reasons I won't go into, we can't get married. We will stay together and wish to buy a home together. What are the steps we need to take to do so? Do we each get our own preapproval ... |
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 My realtor promise to give me $3000 after I purchased a house a month ago, but now she said no. what I'd do? |
| My (buyer) realtor promise me for $3000 from her commission before I give an offer. But after I purchased a house, she said she can not give me money. I do not have anything in writing, I talked to ... |
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 What do you do for a living? |
| I'm a student for Real Estate.... |
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 Can i break my lease if I lose my job in california and have to move far away to go to a new job? |
| I was fired from my job and have to move 300 miles away for a new job can I get out of my lease ?... |
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 Can we lower our offer on the house were buying now the market's dropped?? |
| we're 1st time buyers in the uk and put in an offer for a property which was accepted feb 08. Since the offer was accepted we had trouble getting a mortgage but have now finally got one sorted ... |
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| How can my husband & I be added to my parents house deed and mortgage? |
| My parents are having a hard time keeping up with their house payments. In an attempt to save the house, they have asked my husband & I if we want to move in and be co-owners. How do we go about ... |
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Oly | Why an adjustable mortgage does not adjust downwards after a rate is reduced? |
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Ralph N
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get fix rate,,,please |
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Ricardo G
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According to friends who have lost homes. Some adjustable mortage contracts state that, or they set a limit on how low they can go. Ive heard this from about three or four friends that have recently lost their homes. They fell behind on payments and had to give up their homes. |
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Gordon K
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The rates on mortages can take time to adjust downwards. Some rates are tied to benchmarks that are evaluated as little as twice a year, like January and July, so the rate is set depending on what the rate is on that day. |
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Charlie-Camp
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It depends on the adjustment period. If in April 2005 you got a 3/1 adjustable (first 3 years fixed and then 1 adjustment per year for the remaining term of the loan) and made your first payment in May 2005, the adjustment will not take place until after the intial 3 year fixed rate period is up meaning; your adjustable will not adjust until you make your 37th payment in May 2008.
The adjustables most sensitive to rate reductions/rate increases are monthly adjustables and home equity lines of credit (HELOC).
For further reading about adjustable mortgages, check out:
http://www.atlanticeloan.com/pages/adjustable-rate-mortgage.aspx
http://www.atlanticeloan.com/pages/adjustable-rate-mortgage-terms.aspx
Hope that helps. |
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Tim
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It does. The rate is (usually) based on the last 6 months average. It takes a while for decreases or increases to show an effect on your payment. |
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Amiyna
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If thats the case, it would be clear why. It's not in the interest of the bank. I think it should be adjusted several months afterward but there is a rate floor. It can't go below a certain rate. |
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Craig T
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Because adjustable rate mortgages(ARM) don't adjust up & down with the prime. Most ARM's are 3, 4 or 5 years, so if you had a 3 yr ARM and the rate adjusted in Jan 2007, your next rate adjustment would be in Jan 2010. |
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daeve930
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Be sure you know what index your ARM is using. If the CMT goes down, and your rate is the LIBOR plus a margin, it won't be affected. If the Prime Rate goes down, it doesn't directly affect your ARM unless the index is the prime rate.
Most ARMs have a max adjustment amount...maybe 2% per adjustment and 5% over the life of the loan. This can really vary by lender and product. |
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Danny E
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Because the mortgage contract you signed was written by the mortgage company and a bunch of lawyers and not you or me or any public agency! Did you think they would give any $ back? |
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