B W asked:


My partner’s and my names are put into the title of the new home. He thinks I can get better rate to just put my name to the mortgage. I want to know what disadvantage for me if we do that? I feel that if my partner ends up not helping on the mortgage payment and I can’t affort or I continue to pay, my partner will have advantage to claim he has the ownership of the home. What happens when it comes to the home for sale? How much will he get?
If he is a co-signer of the mortgage, will he be responsible to the mortgage? Should I just have both of us to the mortgage? I don’t know if that impacts the interest rate though.

Tracy

Noel asked:


and what would be the monthly payment?

Bruce

DEEDEE Y asked:


Like what is your mortgage…and how much did you put down on your home and how much did your home cost…Yes I know this is personal but I want to know as I am putting 25 percent down on a New House that cost 419,000.
Well its not a mansion, its in Edmonton Alberta Canada…house prices like this are the norm!
Its 3000 Total living space,2200 on first and second floor.
All the house in this specific neighboorhood are about 400,000 and up.

Claudia

Just Wondering asked:


I own a home that I lived in as my primary residence and then I had to move to another state so I rented it out so a disabled couple. They have been livign there a little over a year now. Turns out I have an ARM mortgage which resets in August. I can’t refinance because my CLTV is too high for a rental property. My mortgage company is sending me a packet and said maybe they would be able to to a modification. How likely is it they will fo a modification on a rental property?
Yeah the bank that holds my mortgage is trying to help me modify it. It is an internal thing. They said I have to fill out some paper work, write a letter with my situation, and send it to them and they will see if I qualify for a loan modification. The thing is, that they didn’t really ask me much info on the phone and as soon as they realize it is a rental property I am afraid they will not help me and then I will have to kick my renters out and foreclose because I can’t afford for them to raise the mortgage and I can’t raise the rent any higher because it is already too much as it is.

Edwin

tinnisk asked:


Isnt there a formula or something.

Juanita

Jeff C asked:


We filed ch7 bankruptcy 3yrs ago. It was discharged. Just recently I discovered our home mortgage was never reaffirmed. We’re making payments, our mortgage company is happy. But our payments are not being reported to any credit agency (our credit report doesn’t show we even have a mortgage.)

A quick call to our lawyer who handled this told us that no assumption papers were signed. I know when I filled out the “so you want to file bankruptcy” paperwork that I checked that we wanted to assume our mortgage. Our lawyer said the following:
A) it wasn’t a big deal but nothing could be done now
B) the mortgage companies often don’t allow mortgages to be reaffirmed (essentially saying it was their fault)
C) we should seek other methods of rebuilding our credit.

Does any one know:
A) is it really no bid deal?
B) should I fight to determine who’s fault this really was?
C) is there anything that can be done to get our mortgage back in good standing?

Thanks
Frustrated in Big

Don

WiseGal asked:


I am going thru divorce and been married 12.5years .
I call mortgage co and they will talk to me somewhat on
other questions they will NOT answer as I am only
a 3′d party on loan and soon to be X is the borrower.
He has to give his permission for them to speak to me
about the mortgage. Please help.

Jamie

mema asked:


My son has apply for a VA home mortgage through lending tree.The mortgage co. is Mortgage Now. The VA website has a interest rate listed at 6.000%, for VA loans, but the interest rate charged by Mortgage Now is 6.875. Can the Mortgage Co. charge a higher interest. The good faith estimate had 6.8, they were told that was just an estimate and that would be the most they would be charged. They are to close soon and the closing settlement charges have the interest rate @6.875. Can they charge a high rate than the VA has on their site.

Monica

BeachBum asked:


Today in a press conference, while discussing a Home Mortgage Agreement designed to help home owners in today’s financial crunch, Bush Jr stated the program is not for ppl that got mortgages they knew they couldn’t afford.

Now… I’m kind of scratching my head here….

Why make a program to only help ppl THAT CAN AFFORD their mortgage… this is not making sense to me.

1. Like who on Earth would say, “Oh let’s get that mortgage so we can lose our house because we KNOW we can’t afford it.”

2. Half the problem is admittedly due to banks giving mortgages THEY KNEW the ppl might not be able to afford.

Amber

Jimmy B asked:


1) My credit score is 612 (Im working on improving it right now), and my wife’s is above 700. We will be looking to apply for a home mortgage mid-2009. Our combined income is over 100,000, and we are first time home buyers. We plan to apply through our credit union for the mortgage. Will we be approved?

2) Also, need help understanding debt-to-credit ratio. Will our student loans affect our chances of being approved? (we are not late on any payments)

3) Also, I am an authorized user for my wife’s credit card, so my debt-to-credit ratio is higher because she has almost maxed it out. Should I be taken off the card so my ratio goes down?

William