What does "re-amortizing" a loan mean?
The term without the "re" is already confusing enough. Please explain.
Using my title as collateral for new loan
I have a clean title of my condo (paid off mortgage loan). Now I would like to take up a loan using my title to help my parents buy their own condo. What kind of loan can I get using my title as collate...
Should I Pay Points?
Is it better to buy points to reduce my interest rate? I'll do it, but it is an expensive mistake to make.
I hear about these different ratios when qualifying for a mortgage.
Can someone explain what front and back ratios are?
What might delay approval of my loan?
I want to place a bid on a new place, but would don't want to get delayed in escrow due to any unforeseeable loan hang ups. What typically delays the approval of a loan?
Can I sell my house to my wife for $1 and refinance?
I am 57 years old, and recently married. Both my wife and I own homes. In the next few months, she is going to sell her home. I currently have a 30-year mortgage at 5.75 percent. My credit rating is ave...
Can I sell my house to my wife for $1 and refinance?
I am 57 years old, and recently married. Both my wife and I own homes. In the next few months, she is going to sell her home. I currently have a 30-year mortgage at 5.75 percent. My credit rating is ave...
Does a second mortgage affect my abilty to refinance?
I have bought a home at $415,000 and now the value of the home is $365,000. I owe $350,000 now and would like a lower rate. What are my options? My first loan is $300,000 and the second one is $50,000.
Should I use my 401k to pay off the mortgage?
I have two mortgages. My equity on the home has suffered quite a bit of loss in the last couple of years. I have paid down a significant amount of my original loan, but the house is still worth less th...
How much money will I have to pay upfront to buy a home?
Want to buy, but need to know how much money that I really need to have to get through the process. No one seems to know that answer.
Will lenders deal with an underwater borrower
I'm looking to do a HARP refi. I have heard that because it's a Fannie Mae loan, I don't necessarily have to go with my existing lender. How and where do I go to shop rates? Are lenders generally reluct...
2 percent rule when refinancing
I've always heard about the 2% rule when refinancing, is it important?
Can I buy a home if I do not have money for a down payment?
If I can't buy without any money down. How much do I have to come up with at minimum?
How can my roomate and I buy together?
My roommate and I have been living together for the past 6 years. We both have good jobs in the area that we live in. We want to buy a condo across the street from our place together. But we have tons o...
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