All Questions
138
questions
1
vote
3
answers
410
views
Selling a Home For Its Value vs Selling a Home For Its Mortage
Say I buy a home at the listing price of 100K. Let's assume that the loan amount is 150K.
Later, when selling the home, let's assume that the market has not changed and that I sell the house for ...
- 141
2
votes
2
answers
948
views
Should I pay off my student loan in the UK before getting a mortgage?
I've had a search around and there is a similar question here and maybe here. However, I think this use-case is slightly different (not to mention those answers are US based), and also the answer to ...
- 121
-1
votes
2
answers
1k
views
How come more interest than principal is paid at the start of repayment? [duplicate]
How come more interest than principal is paid at the start of home loan repayment? What's the rationale?
- 115
0
votes
3
answers
197
views
Credit Card usage before taking a mortgage in the USA?
As a first time home buyer, I am hearing many things about the financial steps to take before applying for a mortgage. I have been told that its better to not use credit cards at all for about two ...
- 742
32
votes
6
answers
13k
views
Is it legal to mortgage a property twice or more?
I was talking to one loan agent lately about getting an investment loan, she was trying to convince me to mortgage my house but my house has been mortgaged already.
She was saying "let us not worry ...
- 573
1
vote
1
answer
688
views
Credit limit increase unauthorized hard pull
I have a Fidelity Rewards credit card, which is managed by Elan Financial services. This is the only credit card that has not had its CLI increased by the provider. I filled out a request a couple of ...
- 499
1
vote
1
answer
185
views
Loan to pay off mortgage on property so I can rebuild
My husband and I own a property with a a manufactured home on it. The land value is $120k, home value is $30k with a total value of $150k. We owe $70k on an FHA loan. With the land value so high we'...
- 11
7
votes
5
answers
4k
views
Can I use my paid-for home as collateral for a consolidation loan to pay off outstanding bills?
I'm needing to find out if I can use my home and its feed as collateral for a 3000-5000 dollar loan to pay off my outstanding bills and just have one payment.
3
votes
0
answers
67
views
FHA Loan for legal alien
I'm trying to get approved for a FHA loan and I'm 95% there, was supposed to close in 2 days but we made an extension since we're experiencing some complications.
My family and I applied for ...
- 31
1
vote
2
answers
1k
views
Can a guarantor's personal property be repossessed if the other person doesn't repay the loan
If I am the guarantor for someone else's loan, can my personal property be possessed if the other person doesn't pay back the loan?
Also, can my property be mortgaged as a guarantee to his loan?
- 11
0
votes
3
answers
176
views
collateralized mortgage obligations
I was reading a comparative description in between CDO's and CMO's on Investopedia.com and I cant seem to understand the following statement:
When the mortgages underlying a CMO are of poor credit ...
- 275
6
votes
3
answers
2k
views
Will having a secondary signee with bad credit on a mortgage raise or lower interest?
My girlfriend and I are purchasing a house. We were told that it would be better to have the mortgage solely in my name as the only account holder due to her credit score.
My question is, between ...
- 163
1
vote
4
answers
996
views
Consumer Loans vs Mortgages
Could someone please tell me what are considered "consumer loans" and what that means regarding other types of loans.
As of right now I understand that vehicle loans and home equity loans/lines are ...
- 745
2
votes
0
answers
121
views
How to read loan estimate, what to look for?
We are buying a newly constructed house and have been trying to compare loans from 2 different lenders (builder lender and our own lender). They both sent us the loan estimate sheet in similar format ...
- 271
60
votes
9
answers
18k
views
Why are 30-year mortgages seen as unwise, if you can pay off the loan in a shorter period of time anyway?
I'm slowly working towards buying my first home (yay!), and have been playing around with the numbers. As far as I can tell, there's literally zero advantage for getting a 10 or 15-year mortgage since ...
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