Some cool mansion images:
Castle Mansion Property in Draper
Image by Photo Dean
Mansion with Castle Towers
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Question by twiggs2006: Can a person have two mortgage loans on two different houses at once?
Is it possible to have 2 different mortgage loans on two different houses at once? Or would banks shy away from giving you a second loan if you already have one out? The reason I’m asking is because I’m looking into buying a house for cheap and renting it out.
Best answer:
Answer by Steve D
Technically, pill there is no limit on how many mortgages you can hold at one time. You are limited only by your income – rule of thumb is that your total mortgage will be no more than 3 times your income (i.e., health you make $ 50,000 a year, you can afford a total of $ 150,000 in mortgages). Note however that to buy that second house as a rental would mean it is classified as investment property and you will need a minimum of 20% down in addition to closing costs. If you are buying from the current resident/owner, you can’t claim any rental income since it isn’t rented yet.
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Question by just me: How does the new mortgage bailout plan work in simple english?
I have heard very little about how it will work, information pills any answers in simple terms?
Best answer:
Answer by bianca
Step1Gather loan paperwork and check to see what type of interest rate that you have. If it is an ARM, help or adjustable rate mortgage, health then you would qualify for the new foreclosure prevention plan. Fixed rate borrowers will not be affected by this plan.
Step2Check with your lender, if you are not sure, to see when your ARM interest rate is set to change. If it will reset anytime between Jan. 1, 2008 and July 31, 2010, you will have the option to place the freeze on the rate. Also, your loan must have been originated between Jan. 1, 2005 and July 31, 2007 in order for you to qualify.
Step3Keep your mortgage payments up to date, with delinquencies below 30 days. You will be excluded from the plan that Bush has proposed if you are more than 30 days late or more than 60 days behind at any point in the last 12 months.
Step4Calculate your future budget to see if you could afford the payment on the higher interest rate when it raises. If you can afford the new payment when the rate resets, you will not qualify. If you cannot afford the new payment, the Bush plan will benefit you. People who cannot afford to pay their payment even before it raises, will be ineligible and considered on a case-by-case basis for an alternative solution.
Step5Call for assistance. If you can’t afford your payments and are facing a foreclosure, the Neighborhood Assistance Corporation of America could help you save your home. Go to their website at http://naca.com or call 1-888-302-NACA. For those with a good credit standing and payment history, there is help available with the FHASecure program, through the Federal Housing Association. Their website is http://www.fha.gov/, which provides excellent information and an online form to request assistance.
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Big step, ask so look before you leap
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Borrowers to get .5 billion in foreclosure and mortgage settlement
… deduction as part of the "fiscal cliff" negotiations? For the great majority of homeowners, the answer is "no." … You've probably heard that it's a good idea to check your credit reports for errors once a year. But which errors are the ones that …
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New federal rules aim to curb risky mortgages
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FHA's financial woes add momentum to housing finance overhaul
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'FHA,' 'Home Loan' Lead Spike in Google Real Estate-Related Searches, NAR …
According to the study, first-time homebuyers frequently searched terms like "FHA loan," "FHA," "home grants," "home loan," and "home buyer assistance." Related: Find Homes for Sale in Your Area. "Increasingly, online technologies are driving offline …
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FHA Confuses Taxpayers With Capital Claims
In addition to doing the math right (which led Ed to conclude that the FHA on a standard accounting or GAAP basis has a net worth of negative $ 25 billion), Confucius would demand the "the rectification of names." This means matching what we call things …
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Some cool chateau pictures:
Chateau Valtice
Image by Miroslav Petrasko (weblog.hdrshooter.net)
I’m genuinely happy with the composition on this one particular. It took me 6 tries to get the entire chateau and the complete reflection into one shot. There had been just 1-2 pixels amongst the top of the tower and the finish of the photo. I had to add a little bit to the best and bottom, search and fill it utilizing content material aware, mind so it is not fully at the border.
I am not 100% satisfied with other components of this photo, mind as I could actually do with a tiny far more brackets, specifically couple of brighter ones. The distinction in between the brightly lit chateau and the surroundings was just as well a lot for only three shots. Possibly next time 🙂
In this photo the Chateau in Valtice in Czech Republic. The bottom portion is the reflection in the fountain in front of it. It was turned off in the evening, so it was almost like a best mirror.
HDR from three shots, taken with Canon 7D with Sigma ten-20mm lens, from a tripod.
Google+ – My portfolio – Every day photo blog – My Twitter – My facebook page
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Question by Mr.mona Islam: How do FHA streamline refinance affect my credit score?
Obviously, doctor streamlining will lower my mortgage by quite a bit. However, story I cannot find any information on how a FHA streamline refinance will affect my credit. Right now, approved my score is in the 760’s and I am concerned that, as I can’t find information, this might harm my number.
Links and resources so I can continue research would also be appreciated.
Thank you.
Best answer:
Answer by Matthew
There may be a small temporary hit for the inquiry, but just a few points if any. The long term impacts are nil as you will start a new loan at the same time you pay off an old one. I wouldn’t be too concerned. The purpose of maintaining a good credit score is so that you can get better rates on mortgages and other loans.
What do you think? Answer below!
Question by mike: Take a guess at how much of a mortgage loan I could be approved for?
Lets say I could prove an income of $ 2300 / month, web and all my finances only showed 280 / month in loan, credit card, student loan, and other bills.
Let’s also say my credit score overall is average.
And say my cash reserves are $ 5500, and I also qualify for the $ 5000 Georgia Dream First Time Home Buyer Grant.
What’s the ballpark maximum amount for any FHA or conventional loan you think I could be approved for?
Thank you!
Also give me a ballpark monthly payment please! Including mortgage insurance and not including!
Also give me a ballpark monthly payment please! Including mortgage insurance and not including!
Best answer:
Answer by Alpha Beta
Start here: http://www.mortgage-calc.com/mortgage/howmuchcaniborrow.html
But just call your bank and ask them to qualify you. They will be happy to tell you.
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A few good castle images I discovered:
Castle Cornet on Guernsey
Image by neilalderney123
Castle
This massive structure is Castle Cornet on the island of Guernsey. It employed to be a tidal island, web but is now portion of the harbour in St. Peter Port. It was very first fortified among 1206 and 1256.
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Question by Pookie: What is the effect on my credit score if a loan is reported as joint instead of co-signed?
I need to improve my credit score within a six month period in order to refinance my home at a better rate than the one I currently have. My loan to income ratio is high because I am single and on a fixed income but live with my boyfriend who has income, prescription but no credit. Specifically, we signed for an auto loan together hoping for a better rate even though it was purchased with the intension he would be making the payments from his pay. I prefer to remain on the title, as it is, because I provided the down payment. The problem I have now is that on my credit report this auto loan adds an additional and hefty liability to my already stretched debt to income ratio. Any way to improve this outlook for my credit score? One reporting agency shows the loan as a “joint” account, the other as a “co-signed” loan. Do they effect my score differently? It has created stress between us because if he pays late, it’s reported on my account. Any ideas besides selling or splitting up?
Best answer:
Answer by bostonianinmo
It won’t make much difference. It’s a liability to you either way. Your loan to income ratio doesn’t affect your credit score although it certainly will affect your interest rate and even qualification for a loan.
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Freddie Mac: 30–year mortgage rate hits 3.4%, viagra 60mg highest in 8 weeks
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Average US rate on 30–year fixed mortgage rises to 3.40 pct.; still near 40 …
Cheap mortgages have made home buying more affordable and have helped drive a housing recovery. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan increased to 3.40 percent from 3.34 percent last week. That's still …
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30–year mortgage interest rates jump to highest in 8 weeks
Average interest rates on 30-year, fixed-rate home loans rose this week to 3.4 percent — the highest it has been in eight weeks, Freddie Mac said Thursday. The new year started with average interest rates on the 30-year home loans dropping to 3.34 …
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Freddie Mac: 30–Year Mortgage Rates Hit Two Month Highs
The increase was reflected in Freddie Mac's latest Primary Mortgage Market Survey, released this morning. The average rate on a 30-year fixed rate mortgage rose from 3.34% to 3.40%. 15-year rates rose from 2.64% to 2.66%, 5/1 ARMs dropped four basis …
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