Need mortgage advice please.?
Question by bond1967: Need mortgage advice please.? I’m going to purchase a 160,000 townhome and my credit union (having 5.9% interest rate) will only finance 80 of the value which accounts to 32,000 that I need to come up with. I have about 15k in cash to cover closing etc. Can I get a second mortgage from another bank to make up the difference? How can I come up with the money? Forgot to mention that I have a condo worth 70k with 30k equity. Trying to use that equity as a down payment. My credit union won’t allow me to do so...
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Question by Goanna Dundee: Reverse mortgage advice please.? Seniors I need your wisdom !! my sister wants my mum to take out a reverse mortgage on her house so sister can deposit on a house ($ 50,000) my mums house is worth about $ 600,000 I’m worried on two counts , my mum dearly wants to leave us three children her estate but I can see her worrying through her remaining years that her estate is being eaten away from within , also how long before this loan capitalizes into eating away at my brothers and my share of the estate ? my...
read moreFirst time buyer…need mortgage advice (UK)?
Question by snaredrummerclay_ur: First time buyer…need mortgage advice (UK)? I’m looking to buy a property currently valued at £220,000. I have used the Halifax mortgage calculator, and provided i have a £22,000 deposit, i can get a variable rate for £1,065pm. I have a job currently with a monthly wage of around £880pm. However, my parents would be living, and contributing to the mortgage also. I would be paying £300, with them covering the rest on the proviso that when the time comes, and they are no longer with us, i will...
read moreMortgage company playing games need some good advice?
Question by dan p: Mortgage company playing games need some good advice? am lost and felt like i have been lied too by my mortage company. In 04 we bought a townhome for 174k had 2 loans, 1 for 140k that is a ARM and other for 35k. august of 05 we were approached by Countrywide that has our 1st loan telling us we have a value of 220k and you have about 35k in usable equity. We had about 25k in medical debt for my kids hospital bill. They suggested to roll that in with my 35k second. The selling point was to clear those payments to get ready to...
read moreMortgage Advice… PLEASE HELP!?
Question by Sophie D: Mortgage Advice… PLEASE HELP!? My partner has a property with his ex. She now has a new partner and he is willing and happy to have the house signed over to him as my partner wants to get rid of it… hes not asking for any money or to be brought out from it we just want a clean break… i spoke to a mortgage adviser and asked him if it was possible to sign the property over to him… he said this is possible what you need to do is go to the lender(RBS) and ask for a ‘Transfer of Equity...
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