Question by booie: Can you bargain a lower rate with higher down payment?
If you place a large down payment can you lower the mortgage rate?
Best answer:
Answer by Judy
Very possibly. Check several lenders to see who has the best terms.
What do you think? Answer below!
Banks cut mortgage debt for 550000 struggling home buyers
The deal was struck a year ago by the federal government and 49 states with the five largest U.S. mortgage servicers: Bank of America Corp., pills JPMorgan Chase & Co., ambulance Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc. Under the settlement, the five …
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Justice Department Probing JPMorgan Over Bear Stearns Mortgage Products
In another sign U.S. authorities are actively pursuing mortgage-related inquiries, the inspector general's office of the Federal Housing Finance Agency is hosting a training session this week with members of the RMBS working group, including federal …
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CORRECTED-Canada housing agency cuts 2013 forecast, sees firmer 2014
Canada's housing market, which roared higher in 2011 and the first half of 2012 aided by low interest rates, started slowing after the federal government tightened rules on mortgage lending in July in a bid to cool things down and prevent home buyers …
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What is an FHA Streamline Loan?
The Federal Housing Administration (FHA) created streamline refinancing back in the early 1980's to provide homeowners who have an existing FHA-insured mortgage a more efficient method of refinancing into another FHA-insured loan. FHA streamline …
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Nations Lending Corp. Reports 2012 Mortgage Refinancing Growth
In May of 2012, page the FHA, HUD Direct Endorsed Lender and Automatic VA Lender began streamlining the process of lending to borrowers. By February of 2013, NLC was reporting cumulative increases in refinancing mortgage loans in 2012, relative to 2011, …
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Mortgage Rates: Rates Holding On as Consumer Sentiment Bounces Back
By using the FHA streamline, homeowners can refinance without the need of an appraisal, a credit history or any other information as long as there is no cash out. Approval is mainly based on mortgage payment history and a required benefit to the …
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Battle of the Babes #247: Nina Dobrev vs Katie Cassidy vs Rachel Bilson
Are you all still paying attention? For the main 3 networks, and we're looking at one semi-final battle. Depending on who takes this week's battle, sildenafil we'll have a second semi-final battle of the off-network babes. Coming up next week will be the pay channel …
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Nina Harper Nominated To Replace Del. Harrison
BALTIMORE (AP) — Local Democratic Party leaders in Baltimore have nominated activist Nina Harper to replace the late Hattie Harrison in the House of Delegates. Members of the Baltimore City Democratic Central Committee have sent Harper's name to the …
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Brooklyn Bound: Interview with Nina Sky at Saved Tattoo
The beautiful twin sisters Nicole and Natalie of Nina Sky seem barely grazed by the tattoo needle in comparison with Tumblr's unending stream of self-proclaimed tattoo models, but the girls have plenty of ink. It's just that most of which has been …
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Question by Reset: Refinance options available?
We get a log of junk mail about refinancing (and other verbiage like government reduction program). I tried going through my current lender for a renegotiation and we got turned down for every possible course of action they could do (tells me they have strict regulations, see and basically we don’t fit into the mortgage/gross income ratio). We are still having trouble making payments, store but haven’t missed any yet. They first wanted me to do a traditional refinance, but are in the typical situation where we borrowed on the equity and our home price has plummeted, so we owe way more than the value of the home and have no equity to use (plus have a HELOC).
So are any of these offers actually legit? Is there a way we can get into another mortgage through a different lender with better rates? We have a 6.85% rate right now, and if we could get into a mortgage with some of the low rates we could save a bit, and someone else can profit from us. I just need a lender that would be willing to accept a mortgage where the amount owed is greater than the value of the home.
No spammers please. Ideally I would like to hear from a real homeowner that managed to do this.
So to address some of the responses, the HELOC has a balance and any traditional refinance options I assume would include rolling that into it. As for my current lender, they told me they have a “waterfall” of options where they go down looking at the first and if they can’t get us in it then move to the next option, etc. Apparently we don’t qualify for anything, including a rate change. They are willing to do a short sell (so in other words lose the house). I don’t know the specific requirements they must abide by.
Best answer:
Answer by Something Else
No that HELOC was a big mistake. You used your home as a piggy bank and put yourself in a bad position. You owe too much and no company will work with you.
Add your own answer in the comments!
Changes in the Works for FHA Mortgage Requirements
Another change in FHA mortgage requirements: increasing a borrower's down payment requirement and insurance prices for loans ranging between $ 625, story 000 and $ 729, information pills 000. This change will help protect the FHA against losses on high balance loans outside …
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FHA mortgage premium to rise on April 1
Here's the timing: FHA will raise the annual mortgage insurance premium on most loans that have a case number starting April 1 or later. To get a case number before the April 1 deadline and avoid the increase, capsule borrowers should apply with a lender no …
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FHA to hike mortgage insurance premiums
The FHA's insurance fund had a $ 16.3 billion deficit at the end of fiscal 2012, with much of its problems tied to mortgage loans insured by the agency between 2007 and 2009. In its annual report to Congress in November, the U.S. Department of Housing …
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