Mortgage Loans Questions and Answers

Are most mortgage loans nonrecouse or recourse loans?
how would you go about finding out what type of loan you own? “> Mortgage loans are not typically referred to as being ‘recourse’ or ‘nonrecourse’ loans…. could you explain a bit more what it is that you need to find out? A Non-recourse loan…

Are near any circumstances that would give a hand qualify a 55 yr weak man on disability for a reverse mortgage loan?
The house is completely paid for. He’s unable to work and is not even so receiving social sercurity, although the application is being processed. The mortgage companies will nouns a reverse…

Are near any mortgage companies that loan near a smaller number than 500 rack up?
no i’m in your same boat but i got my credit gain up 50 points this month by following the advice on this website http://www.adviceontime.com/Credit/Credi… hopefully soon we can get financed. Let me know if you find…

Are nearby any lenders that provide 40 year 80/20 mortgage loans ?
Yes but you need to compare the options and see if it is worth it. the 40 year loan does not gather you that much money. At the same time the rates are generally highly developed on 40 year loans or the…

Are refinances of first mortgages also nonrecourse loans surrounded by CA near Wells Fargo?
No, they are fully recourse loans. Actually, there is no yes/no answer. It depends on the nature and lingo of the refinance, and the surrounding facts and circumstances. The more the refinance resembles the original…

Are rented single home dwelling qualified for loan mortgage modification?
I work in the construction industry and is having a remarkably difficult time paying my mortgage. It’s on the market but no buyers and we’re thinking of putting it for rent at the same time.If it get rented, can I still qualify for a…

Are reverse mortgage Loans sponsored by the gouvernement?
My dad wants to get a reverse mortage loan, I am trying to convince him not to. I try & report him that these companies are obviously making a lot of money, because they run so masses TV ads. & he says “They are sponsored by…

Are student loans contained by deferment counted against you when appying for mortgage?
I’m still in college, graduating within 3 months, have a job secured, and want to draw from a mortgage and buy a house in the new city BEFORE graduating/moving for the bright job. Since my undergraduate student loans have be in…

Are the points on a mortgage loan, portion of the closing costs or completely seperate?
It is usually part of the closing cost (non-recurring). Usually they are. Points are basically pre-paid interest which allow you to get a lower interest rate. They should be distinguished from a loan origination duty. One point is 1%…

Are the up-front mortgage insurance premiums on FHA loans charge deductible?
This up-front mortgage insurance premium (MIP) was rolled/financed into my loan. yes they are If its rolled into your loan you are not paying them all surrounded by one tax year. Most likey there is an impound paying them monthly and at the…

Are their loans for empire near recent mortgage lates?
I am int he process of selling my home since my market is wayyy down and im getting out now and i go to get a new mortgage and they said i be pre approved so i wet ahead and built my house well immediately…

Are There Any Special Lower-Interest Mortgage Loans ?
I want to build a small house in a rural area but I am single and don’t clear a lot of money. Are there any special lower-interest loans available that I might qualify for? (If students can return with scholorships for school I was…

Are these numbers polite for a 30yr, fixed, conforming/conventional mortgage loan?
Price of home: 159,470 PMI: yes Interest Rate: 6.5 -> builder offered free point to buy down to 6.375 Estimated Prepaids: 1,584 Estimated Closing Costs: 3,793 Total Costs: 164,847 ————————————–… Good Faith deposit already put down: 1,500 Lender Credit: 175 Paid by Seller:…

Are we allowed to get more than one pre-approved mortgage loan at like time?
We are currently trying to get one pre-approved loan through a friend of the family. But she seem to be taking her good ‘ol time when we have one week past we fly east to look for homes (which we’d…

Are within any loan plans to acquire dosh out next to strange homeowner first mortgage?
I have an approved offer on a condo but the section needs a little bit of remodeling. I hold good credit, an approved loan, but it would be great if I could include the remodeling cost with my…

Are within any no-doc loans (mortgage) available immediately?
what do people do if they cant show steady income { work on straight commissions}but know they can rent out a place? a duplex for example? Try Suntrust mortgage. They are still promotion no docs on their website. Credit must be excellent –mid…

Are you all set to CHANGE to a latest, restructured mortgage loan?
Why sit on an upside-down mortgage when I have approved a bail-out plan for homeowners? the prob. is everyone is going to want give support to, its going to create corrupt americans….people will think others are getting a better traffic. I…

Are you competent to affix your sports car loan and institution loan to a mortgage?
canadian mortgage I don’t understand exactly what you are talking almost. If you are refinancing your home and your home has equity in it next you can take out the equity to pay these other loans. You also can…

Are you interested to be a loan officer, or loan processor, or branch superintendent, surrounded by the mortgage industry?
We are a nationwide mortgage company looking for people who are ambitious who are liable to fulfilled their dreams. NO experienced necessary and we will train. Earn while you learn. If you…

Aren’t these traunches of complex and worthless mortgage loans really basically bogus assets used to fool citizens?
They were worthless stacks of paper to inflate their match sheets and, thus, qualify to make more loans and investments. They got around the canon for required assets with mind numbing bs. Pure smoke and mirrors. They…

As a mortgage broker/lender–can we set aside customers giftcards if they choose to do a loan thru us?
I know RESPA doesnt alow us to give such things to people who refer us business–but does that apply to the actual customer as resourcefully? Latitude is wrong. You can bequeath a gift to…

As a mortgage loan processor should I prepare the 1003 and 1008 or is this the loan officer undertaking?
My loan officer is hardly at the office and is other calling me do submit files to underwriting but 1003 are not even completed. Is it ok if i prepare them. Or is this the…

Assuming FHA mortgage loans?
My cousin would like to assume my the loan on my house, he doesn’t have unpromising credit he just doesn’t have like mad built up. he is a first time home buyer he doesn’t make a whole lot of money but we have a feeling that he makes enough to…

Attorney recommend I stop making mortgage payments – will this negatively affect my student loans?
– and other loans I have that I’ve never been belatedly on? The house has been unoccupied for a year and I cannot afford payments and requirement to get a short sale approved as the current price is too…

Avoiding Hard Money Mortgage Loans – Anyone?
I wanted to buy a new house but the guard won’t give me the loan to buy it. Hard money mortgage loans are going to be to hard to rate off and I’m just going to win deeper into debt. I’ve never been late on repaying loans…

Bankers out here…are you still approving loans for small businesses and mortgages?
I am at a Small Business Development Center conference right now, and we just go reviewed business plans. Our reviews from the commercial bankers were done before olden times three weeks, and we were wondering if the companies that got the green…

Bankruptcy and 80/20 mortgage loans?
I filed for bankruptcy and own an 80/20 loan. the 2nd mortgage is 26,000. Will that be discharged and will I still be able to keep my home if I still formulate the payments on the 1st mortgage? Typically, you must continue to bring in payments on both…

Bankruptcy and Mortgage Loan?
How does my Mortgage Loan would be affected if a file for Bankruptcy, I would resembling to keep my home I just have need of consolidate my credit cards, but a refi is not possible since I own more than the value of my property Bankruptcy ruins your credit for…

Bankruptcy and Mortgage Loan?
If my fiance files bankruptcy how does that affect our mortgage loan, we are not behind on it at adjectives and don’t want it to be effected. It would depend on what can be worked out. I would get near a bankruptcy attorney to see what can be done….

Banks won’t distribute me a conforming loan or a HELOC because I hold too frequent mortgages. Other option?
I have 6 existing mortgages, plenty of positive cash flow and and “excellent” credit rating, but several bank have said that they cannot give me another mortgage because of different Fannie Mae and Freddie Mac…

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