Money

Y? asked: We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? [...]

Continue Reading How do I calculate mortgage payments when buying a home from a family member?

Tags: Buying A Home, Calculate Mortgage, Family Member, Flexibility, Money, Monthly Mortgage Payments, Monthly Payments, Mortgage Bank, Renting, Using A Lawyer

C asked: I have an interview with a mortgage company tomorrow hiring a loan officer. The owner mentioned he typically hires for commission only, but has in the past and considered a small base salary plus commission to get started. The Economy: Rates are historically low on mortgages, home prices are low, but banks are [...]

Continue Reading How much does a mortgage loan officer make? Is it a good job?

Tags: Banks, Base Salary, Company Tomorrow, Economy Rates, Good Job, Money, Mortgage Company, Mortgage Loan Officer, Mortgages, Sales Experience

YEEH! asked: I recently got a letter from my bank saying I owed them $199 from “late payments” on my mortgage. (you know how your mortgage is due and if you pay it late they tack on a charge) Well, everytime my husband went to pay our mortgage even if it was late, the bank [...]

Continue Reading Mortgage?

Tags: Bank Teller, Collections, Late Payments, Money, Mortgage, St Judes

Alan M asked: A company I had money inverted in went into chapter 11 and I do not understand why a person is asking the cort to file a motion, for permission, to have the trustee execture a dischange of mortgage.Credit Report

Continue Reading What does “permitting a Trustee to execute a discharge of mortgage?

Tags: Chapter 11, Discharge Of Mortgage, Money, Mortgage Company, Trustee

honeybear asked: I got a letter in the mail from the bank that says paying our mortgage payment bi-weekly instead of monthly could save us $40,000 to $100,000 in interest and reduce our mortgage term by 7 to 9 years without refinancing. How does this work?Fixed Rate Home Equity Loans

Continue Reading How does making your mortgage payment bi-weekly save you money?

Tags: Letter In The Mail, Money, Mortgage Payment, Mortgage Term, Refinancing

David Prulhiere asked: There are new reverse mortgage programs available that you should know about designed to save you money. So you have something to compare it to, we will summarize the two standard programs and then talk about the new one.Program 1: HECM FixedFixed rate is great if you want to know what the [...]

Continue Reading New Important Reverse Mortgage Programs Available

Tags: Fixed Interest, Fixed Rate, Interest Rate, Money, Proceeds, Program 1, Rest Of Your Life, Reverse Mortgage, Thousands Of Dollars, Upfront Mortgage Insurance

Ben Schmitt asked: We all know that putting extra payments down on your mortgage is going to pay off your mortgage faster and save you money. But what not everyone knows are the little insider tips that allow you to know to the penny, EXACTLY, when to use them to pay off your mortgage, how [...]

Continue Reading Pay Off Mortgage – Mortgage Amortization Secrets

Tags: Amortization, Banks, Burning A Hole, Loophole, Money, Mortgage Amortization, Mortgage Mortgage, Mortgage Payments, Pay Off Mortgage, Principle

John Kozy asked: Have you ever wondered why the standard terms for mortgages are 15 and 30 years rather than 10 and 20 or 25 and 50?  I have, but was never able to find a satisfactory answer. Then I discovered something interesting. Since this country was founded, downturns in the economy have occurred on [...]

Continue Reading Mortgage Anyone?

Tags: 13 Years, Economic Downturn, Home Buyer, Intervals, Lenders, Loans, Money, Mortgage Loan, One Million, Similarity

izibir asked: Certainly it is a great question that is asked all the time. Sometimes your present lender may equal the best offer you received from other lenders. Commonly, home mortgage companies are not that accommodating. They may be able to match a competitive quote if they readily market an offer to beat it. They [...]

Continue Reading Mortgage Loan Refinancing with the Best Rates or Remaining True to Current Lender

Tags: Current Mortgage, Love, Money, Mortgage Calculators, Mortgage Companies, Mortgage Provider, Mortgage Refinancing, Protest, Refinance, Refinancing Rates

Eddie Lamb asked: The world of mortgages is confusing at best. There are literally thousands of mortgage companies anxious to loan you money and hundreds of terms to learn. Where do you begin, and how on earth can you compare mortgages to find out what is best for you? To begin, it is most helpful [...]

Continue Reading Mortgage Interest Rates Explained

Tags: Current Interest Rate, Fixed Interest, Fixed Rate Mortgages, Interest Rate Option, Money, Mortgage Companies, Old Standby, Period Of Time, Seven Years, Traditional Mortgages