Question by One Still Man: How much lowerr with the Hamp Program lower my credit rating?
My wife and I have excellent credit! My wife applied for the Obama Hamp program since I am out of work. We just found out it might lower our credit rating. I wish she knew about this sooner. How much will this Obama Hamp program hurt our credit rating? Is there an institution I can find this real number from?
Thanks
Best answer:
Answer by bdancer222
I’m not sure if or how much the program would impact your score. It could be a temporary ding, here online like a debt management program. It’s noted while in the program but on completion the notation is removed.
It may also depend on exactly whay kind of loan modification you are doing. Some of the programs may ding your credit while others won’t.
In any case, shop if you are currently out of work and are in need of loan modification for your mortgage, you really aren’t going to be looking for and new lines of credit. Losing a few points on your score won’t make a lot of difference. Certainly won’t ding your credit as bad as a foreclosure would.
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Question by happyhive7: What kind of government grants are out there to help with housing/home foreclosure?
I’m on the verg of foreclosure and need help fast! I know it may be a bit far fetched to receive a grant for home foreclosure but I’m just reasearching any possibility to help me not lose my house.Any info will help. Thanks.
well dawn666, store My husband has a full time job and we have 5 kids and we like many people in the united states has found ourselves in a hard situation, prescription so before anyone else thinks I’m a lazy bum try to not be an IDIOT first!
Best answer:
Answer by dawn666annapolis
i think the gov. has exhausted all funds available. you need a job.
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Question by belle: Is it stupid to buy a home now?
I am in college and have no money to put down. But I’m tired of throwing away money on rent. I’m thinking I can buy a small modest home, this site but I would need to rent a room to afford it. Is this as absurd as I think it is, or could this potentially be a good investment?
Best answer:
Answer by xxxyachiruxxx
You can buy a small apartment I suppose.
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Question by Jjj: Question about Real Estate Economics?
I have a question about the prices of real estate. 15 year ago, price in Ontario (A province in Canada) the average income was 42,000 a year and the average house price was 130,000 a year. Now in 2012, the average income is 48,000 a year, while the average house price is 400,000 a year (these numbers aren’t exact, but there roughly close). Incomes haven’t increased drastically, and most of the increase I imagine is justified by inflation. However, I do no comprehend a 300% increase in housing prices. Question 1, why are prices that high?
I understand the rudiments of the financial debacle in 2008, and the use of Credit Default Swaps and the eagerness of issuing risky mortgages created a lot of demand for houses, and the prices increased. However, after the financial crisis, house prices in Canada remain high! So are housing prices today remnants of the risky-mortgage credit default swap fest?
This leads to my second question. If prices have increased 300%, then shouldn’t there be a lot of money to be made by building houses and then selling them on the market? I mean, surely the materials and labor of building houses haven’t tripled as well, right!? I mean, a construction worker isn’t going to be making triple the amount he was 15 years ago! 15 years ago houses could be build for around $ 100,000, and shouldn’t the costs today be around that same amount?
So why am I not seeing everyone and there grandmother getting loans from banks to build houses (hire a few workers and an architect) and sell the house on the market for ridiculous profit margins? Why am I not seeing a growing host of real estate building investment funds, which use money to build houses and generate ridiculous returns. Build a house for 200,000-250,000 and sell it for 400,000-500,000, sounds great! But the thing is, I don’t see this happening, and there must be a reason for it. WHAT IS IT?
Is it because people are afraid of housing prices behaving like a bubble, and there concerned that it will burst right when they are building houses? Are they worried about taking such massive loans from banks on building houses? Are banks not willing to give them that much money (I doubt because they give mortgages).
I mean, why don’t I just go after university and build my a few houses and make $ 200,000 profit on each house? It seems to me that profit margins in real estate are so ridiculously high!. A mansion that 15 years ago was for 2 million now sells for 6 million.
As you can probably expect from the character of the question, I am hoping for thoughtful, intelligent replies on the nature of real estate economics.
Thank you
Best answer:
Answer by Tulip
I cannot say for Canada, but maybe it’s the same as in the US, where the Govt inflates the prices/value of housing in order to collect higher real estate/property tax. New school buildings, paved roads, police stations, transportation systems etc. Although 300% is rather high, it can be that the area has changed. If the houses had been newly build and there was nothing around in the town 15 years ago, then now a near city, it can go up higher than usual
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Friday Round-Up: FHA Becomes “High Risk, search ” Talks Critical Reverse Mortgage …
Housing Chief Galante said reverse mortgage change is critical. In answering to House Republicans during a Financial Services Committee hearing this week, FHA Commissioner Carol Galante reviewed changes that have taken place across the HECM …
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Congress Watchdog GAO Says FHA Has Reached “High Risk” Status
Congress “watchdog,” the independent Government Accountability Office (GAO), this week released a report stating the Federal Housing Administration is a “high risk” entity. GAO, which investigates how the federal government spends taxpayer dollars has …
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Check out these castle pictures:
Castle Rock
Image by Matija Grguric
Outpost fortress in the middle of the ocean. Best location for princess to hide when her kingdom is in danger. Or perhaps not? Although she is creating her hair and enjoying the Sun, remedy her guards are not as cautious as they need to be. Whilst they are enjoying their lunch and drinking, site a bunch of orcs are trying to climb up to the castle living qurters.
This was my castle entry for Classic Castle Colossal Contest VI 2008.
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Question by frogsrfun: Is a variable interest rate on a loan that only goes up and not down with Wall Street legal. ?
I have a variable interest rate on a loan that increases when the prime interest rate increases past 8 1/4%. When prime goes down, search as it is now, symptoms the loan interest never goes below the 8 1/4%. I have been told that this is not legal. Does anyone know how I might check this out?
Best answer:
Answer by Books
You’d probably have to talk to a lawyer or perhaps a banker. Basically, sale read your loan contract. If it says the interest rate will follow Wall Street in some way, with a minimum interest rate of 8.25%, then it’s more than likely legal. I don’t see anything that looks bad other than you getting stuck with it.
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RAIT's Turnaround Gains Momentum
It sold $ 97.9 million of CMBS loans which generated $ 6.2 million of fee income. RAIT sold $ 56.8 million of CMBS loans during Q4 which generated $ 3.8 million of fee income. During the CC, price management stated that the portfolio of CMBS loans is ramping …
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Poultry industry needs props to flourish further
Now in the context of new developments in the sector in the light of what has been stated by the association concerned, page the relevant authorities need to hold discussions with all stakeholders of the poultry industry at the earliest. Bangladesh should …
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Some cool massive house images:
Clan Crests on Side Doors to the Huge Home, viagra Klemtu, BC
Image by A.Davey
Clockwise from the upper left: Raven, Orca, Eagle and Wolf.
Here’s some background details about the community of Klemtu from the website centralcoastbc.com:
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An Introduction to Klemtu
Klemtu, the only at the moment occupied village in Kitasoo/Xai’xais territory, is positioned on the east coast of Swindle Island.
The people of Klemtu come from two distinct cuiltural linguistic groups. The Kitasoo component is of Tsimshian origin related to several Nations from the neighbouring north coast including Prince Rupert, Terrace, Port Simpson and Hartley Bay.
The Xai’xais (roughly, pronounced “high-hice”) are from the the Kwa’kwala language group. Even though the Kitasoo/xai’xais function with other tsimshian groups on treaty development, they are portion of the Oweekeno-Kitasoo-Nuxalk tribal Council, based in Bella Coola.
Klemtu is situated on a sheltered harbour secure from all inclement climate. There is a fuel dock, a new float and a phone at the gangway on the public dock. There is a nicely stocked retailer, a café and outstanding water at the dock.
Modest fish processing, hatchery and industrial fishing have been the mainstay of this population. Recently the Kitasoo individuals have taken an active part in moving towards forest related financial activity. Tourism plays and increasingly important role. Value added opportunities in both the fishing and forest sector are of interest to this neighborhood. Modest business development happens. Educational and historical sharing of details happens in conjunction with the Discovery Coast BC Ferry run.
www.centralcoastbc.com/klemtu/intro.asp
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State Of The Union 2013 Live: Obama Delivers Annual Address (LATEST …
An additional 8 million borrowers would qualify for the federal government's Home Affordable Refinance Program, medical or HARP, decease under the proposed legislation. Most significantly, the bill would allow underwater homeowners, those who owe more than their home …
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The 5 Best Mortgage Loan Relief Programs Available in 2013
Fortunately, the federal government has created a number of mortgage relief programs to aid those who are underwater, behind on payments and/or unemployed so they don't lose their homes to foreclosure. While many federal mortgage relief … The Home …
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