Any advice on how to drop your monthly mortgage payment?
Question by Nikki: Any advice on how to drop your monthly mortgage payment? I have a 1500 square foot home in North Las Vegas. I have lived in it for two years. My monthly payment is 2100.00 a month, fixed for 30 years. Now, things are pretty tight. My husbands work is slow and so is mine, and we are struggling to make the payment. We talked to the mortgage company and they said there was nothing they could do to drop the payment. We even threatened to give it back, and they didn’t seem to care. I don’t think we can refinance...
read moreMortgage pre-approval – advice needed?
Question by Chris: Mortgage pre-approval – advice needed? Hi, I am considering getting pre-approved to buy an apartment in NYC. The place I am looking at requires 20% down and is listed at $ 400,000. Now, I have the down payment, however, that will leave nothing in savings. If I go to get pre-approved, do they only look at my income & credit rating? Or do they also look at how much $ I will have left after buying the house? Thanks. Best answer: Answer by RachelI purchased a home last year and had to drain my savings account for...
read moreQ&A: advice on a mortgage!?
Question by betty boop: advice on a mortgage!? We are at the moment tied to a fixed rate mortgage for another two years.Would anybody know if we will be able to buy ourselves out of this mortgage to go for a mortgage with a lower payment due to the interest rate being low at the moment,thaks in advance for your answers. Best answer: Answer by JudyNow is a great time to re-fi. Rates will never be lower. You will have to have at least 10% equity in your home. 20% if your credit is not great. Closing costs could run in the thousands. Only re-fi...
read moreCould you please give me some advice on a refinance of my mortgage? Details…?
Question by FromTheTop: Could you please give me some advice on a refinance of my mortgage? Details…? I bought my home 14 months ago, it was a foreclosure, and we got a heck of a deal. It appraises at about $ 160,000 or $ 165,000 right now, and we paid $ 142,000 for it. Since it has only been 14 months, the principal is still at about $ 140,300. BUT…we are paying like $ 133 a month for PMI (Property Mortgage Insurance) since we don’t have enough equity in the home at this point. We are also paying an interest rate of...
read moreI was thinking of buying a foreclosure or sheriff sale property. Does anyone have any advice?
Question by ??????: I was thinking of buying a foreclosure or sheriff sale property. Does anyone have any advice? I am currently in the state of Pennsylvania and am looking for an investment property either here or in New Jersey. I understand that I would have to put work into most of these properties but I wanted to know if I bid on a property at a sheriff’s sale do I have to have all of the money at the time of the sale or can I pay a percentage down and pay a mortgage on the rest? Any advice or tips would be greatly appreciated! Best...
read moreShort Term Cash Advice
Mortgage Advice FAQ’s