NorthCarolinaNow asked:


We bought a house last year with two mortgages. Because we only put down 10% for the loan, having the second mortgage of 10% of the loan, this way we don’t have to pay for the insurance. This second mortgage has an interest rate of 9.75% while our other mortgage is at 6%. We want to refinance this second mortgage to a lower rate. Can we do that? Is there anything that preventing us from refinance just this second mortgage? There is no early payment (repayment) penalty on both of our mortgages. Thank you very much for your help.

Mathew

dwanal asked:


I’ve been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I’ve been told that the 2nd loan is Home equity line of credit. How much will my payments go up on the 2nd mortgage and should I look for another loan. Thank You.

Ruth

plus-gnositicism asked:


I would like to know who first estblished the current standards of a home mortgage. In other words, where did the process of charging mortgage interest by the current method where you pay two to three times the amount to purchase a home. If you buy a $100,000 home under the current methods you repay $200,000 to $300,000 over the period of the loan. Does anyone know because nothing comes up on an internet search except how to get a home loan today. Help!!!
I ABSOLUTELY DO NOT WANT A HOME LOAN NOR DO I HAVE NEED OF ONE.

Dan

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

dgetzkow asked:


I have 3 rental homes and now the variable rate interest went up to 13%. I can’t make it work to rent them out and pay taxes and insurance. Not to mention repairs, etc. I know my credit is horrible. I couldn’t pay the credit cards a year ago and went into default with them. I want to refinance these home mortgages or I’ll have to default on them.
My credit is already shot and what would happen if I just let them go back to the lender?

Kansieo.com