Posts tagged "Banks"

What caused the home mortgage rates to sky rocket, causing people being unable to pay their monthly mortgages?

The recession was caused by people who are unable to repay their loans because home mortgage rates are too high? “The banks do not receive money from their original owners, triggering a credit crisis, and were able to lend money to large corporations companies.This, then had to cut some expenses and have started to lay off milliers.Donc, causing mortgage rates to rise so high, who started this financial mess in the first place?

More Mortgage Meltdown: 6 Ways to Profit in These Bad Times

Descriptiones polished product on exploiting the benefits of financial investments in difficult times the United States economy has become paralyzed by the disaster credit and real estate. Even if we were all touched by the tragedy and has heard no shortage of news about him, still seems completely unfathomable and incomprehensible to most people that the actions of some mortgage brokers, bankers, rating agencies and banks d ‘investment could break the economic engine of the wo. . . More>>
More Mortgage Meltdown: 6 Ways to Profit in These Bad Times

can banks change mortgage loan number without approval from mortgagee?

A large bank has changed my loan number and transfered the account to a subsidiary. Can this be done without my approval?
Thanks, helped
that me…

• how can banks sell loans without approval
• how do mortgage loan numbers change
• letter to change loan number
• should amount of loan approval be on offer
• should loan number changer

Is our current economy in direct competition with conservative thought?

our current economy is almost completely built on SPEND, SPEND, SPEND… overspending actually…

credit cards, mortgages, personal loans… more and more…

if people actually spent within their means… the stock market would be at about 8,000 now and credit card companies would be small opperations… banks would have a hard time staying in business…

Look no farther than 9-11… consumer debt at an all-time high and Bush tells everyone to “go spend money”… and it’s only gotten worse since then…

I always find it odd when “Conservatives” talk about how great our economy is… I would think they would be scared to death to look at the consumer and national debt levels and seriously worry about the stability of it all…

people aren’t living within their means… and when the bills come due, the companies that are owed will go out of business… that’s not good…

am I being over dramatic or do you agree?
ah… the conservatives last defense of “you’re a stupid liberal so I’m going to run away and not talk”…

Will banks/credit unions give loans/mortgages for under $100k?

I want to buy a house, but the loan amount I want/need is less than $ 100,000. Will a bank like… Bank of America still give me a loan? Or is that part of the entire crooked scheme where it HAS to be more than $ 100k so they make enough money on the interest rate over that 30 years, etc?

What happened to all the money given to the banks? I thought it was supposed to make getting a loan easier?

I don’t know about where you live but in NJ getting a business loan is near impossible and getting a mortgage requires near perfect credit AND up to 40% down….

How will the banks treat this one?

Was living in one condo and needed money for down payment on a larger one for my family. The first condo was for sale but is just sat, so I rented it, when the new one was completed. Now the payments on both are crushing me. $ 1650 on the first and $ 2,350 on the new one. I can handle the second one okay, that’s where we are living now.

On the first condo, I borrowed money on a home equity loan for additional down payment on the second. First mortgage is for $ 145K, the amount on the home equity is $ 35K. So I owe a total of $ 180K, the market is now $ 159K

On the home equity I can still write a check for $ 15K…….at the time they issued the loan it was worth more……..

Did I mention that my tenant just moved out, he was only good for $ 950 per month…….so $ 1650 minus his 950 left me $ 700 per month in the red. Now it’s the full $ 1650……..this is a seasonal community and the rental market is weak…..

Here’s the question, if I write the a check for the remaining $ 15,000, left on the home equity from the first condo……..then just let the bank have the unit back……..

what are they likely to do and
what will they do to me?

The $ 15K in money I clearly have no intent of paying off unless by some miracle the unit sells for $ 195 and I can wipe out everything and walk away…..

If you have any other input I’d appreciate it. Thanks

Thanks from Florida

Mortgage rates will now drop alot…?

I am excited about the Govt’s recent activity to save my home fron recession….It would be easy to be the Fed chairman job..all you have to do is move rates lower when the economy looks flat lined and raise them while everything is going great. Anyway, now that the Govt has dropped the interest rate by a half percent, how long will it take until it gets easy again to refinance and lower the mortgage payment? I think the good days are back and homes should start building equity again. it should also be easy to get credit cards now that homes will shoot back up. Can I get some equity money at cheap rates going forward? After all, if the banks get loans for less cost, then we can expect this rate cut automatically…I can’t wait, I want to shop til I drop and will put the goods on my CCard so I can pay later., I love free/cheap money!…lots of deals still out there.

• did interest rates drop on May 17 2011?

Is it worth using a mortgage broker?

Hi, I’m in the market to purchase a house. Most of my co-workers and friends have gone straight to banks without going through a broker and advice me to not waste money on mortgage brokers. However, I also hear that a broker’s service is worth it, since s/he can look into and compare rates from various banks and get the best rates for you.

So, is it worth using a mortgage broker? I already applied through a mortgage brokerage company and received an approval for a loan (I believe that I’m not under any obligation to use their service) with an interest rate of 5% (30 year fixed).

What are some things to consider when deciding if it’s worth using a broker? How much fees do they typically charge? What are some things in fees to watch out for? How much/what kinds of fees are too much?

Thank you!

Obtain a home loan when already own a rental property?

How difficult is it to obtain a home loan when we already own another home? We rent it out for about 50 more a month than the mortgage payment including taxes and insurance. We though everything was ok with the loan (seeking fixed rate) until they reqested more info a month after we submitted everything. The bank has already done the appraisal which turned out ok. The info they requested had nothing to do with rental property, but bank said that’s what they were worried about when he talked to them over the phone. We are afraid they won’t give us the fmr and taking amr would be silly right now. Also we were shopping around at different banks before choosing this one. We had one bank inquire into our credit at least 7 times! Now the pmi company want to know why we had so many inquiries. Why would a bank inquire 7 times. We only had 1 initial meeting with them. Can we do anything about it?