dave s asked:


I am planning to buy a new house. What would be better, to take two loans (primary and secondary) on the new home, or to take one loan and home equity from my first home (which was paid in full) to put into the new house?

Jorge

kas asked:


I just purchased a house last summer. I have 2 loans on it; 80% at 6.2% & 15% at 7.8%. Is it worth to refinance and pay additional closing cost? Will I have to do the appraisal again on my house? What happens if the home price has appraised down? What happens if the home price has appraised up?

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chris h asked:


Seem like raising the caps on federally insurable mortgages and having the various gov’t underwriting agencies purchase unvetted portfolios of mortgages effectively nationalizes the home mortage industry. SInce I am reading that there may be $2 trillion of bad loans out there, I suspect that means we as taxpayers will then be on the hook for that much in bad loans. Why do I think we are seeing another Savings and Loan Scandal? I sure hope I am wrong.

Roberto

chicki3030 asked:


I have been asked to set a home office for my employer’s benefit. I will work from home on daily basis. I know I can deduct a portion of my mortgage payment and utlilties from my taxes, but can I deducted my home equity loan payments? Should I consolidate both loans to get the total tax benefit?

Martin

KJ asked:


Lets say you have $5000 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?

Philip

MH asked:


For example, I take both loans and refinance them together as 1 loan with a 30 year loan?

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