A few great mansion pictures I discovered:
Mansion Perrier Dita Von Teese
Image by cattias.photos
Mansion Perrier Dita Von Teese
If you would like to see a lot more homes click here…
Mansion Perrier Dita Von Teese
Image by cattias.pictures
Mansion Perrier Dita Von Teese
For more houses click here…
Question by Think about it: Where can I find guidelines for Obama’s mortgage loan modification program?
I was denied over the phone because my income has dropped too low. I don’t want to lose my home, visit this any website where it actually lists if my income is a certain level I won’t qualify? I can’t help I have a lot of debt like credit card and car payments so they said my income had to be double what it actually is right now.
Best answer:
Answer by Rita Gibbons
http://www.usnews.com/money/personal-finance/real-estate/articles/2009/03/04/obamas-loan-modification-plan-7-things-you-need-to-know.html
Know better? Leave your own answer in the comments!
Question by Daniel E: What % of stock market pundits do you think really have a grasp of the bursting housing bubble?
Cable news networks, for sale print journalists, bloggers… When Citibank says the worst of the credit crunch is over, how many people really have a grasp of what’s already in the pipe, ARM resets, forclosures, housing inventory, etc. ?
Best answer:
Answer by self-employed
I wouldn’t listen to anyone with a stake in it (mortgage companies, mortgage backed securities, etc.). I think economists can make an educated guess, but it is still just a guess.
Know better? Leave your own answer in the comments!
Question by yanks006: Gettinga a Mortgage with a Bankruptcy?
I am currently 15 months off my Chapter 7 bankruptcy being discharged and I now have 3 credit cards with zero balance and a Car loan which has been paid on time every month.
I make 55k a year and am wanting to buy a home and stop renting. Do you believe I will be able to get a home mortgage?
If so, website like this what type of interest rates would you suspect I would get or type of payment with taxes based on a 150k home loan? I live in El Paso Texas.
Thanks!
Best answer:
Answer by bean123
yes you can get a mortgage. expect around 8-10% interest rate. you would be classified as a subprime buyer.
Add your own answer in the comments!
Filing Bankruptcy is taxing on your credit score. After the first year of Bankruptcy, people are usually back in debt and have their credit cards maxed out. But you’ve been very good about it, and I just want you to know that you have someone out there who is proud of you!
Now, legally, you can’t file Bankruptcy for an other 5-6 years.. Fortunately for you, this is the average time a loan stays issued until its refinanced. Banks know this! Here is the truth:
If you just filed Bankruptcy, they know that your filing Bankrupcy risk is not even an issue for the next 6 years. You have learned your lesson, and paying bills on time, and can more than afford this loan. Your credit score is still weak, and can be used as leverage to lock you into a higher rate or adjustable rate by the bank.
Here is what the Bank will feed you. “You’re credit score is very low, you just filed Bankruptcy, you’re very high risk”. They will then go on to say, “I don’t think we’d even normally issue a loan to someone like you, but we’re willing to work with you.” And now for the kill, “because of your high risk, we’re not only giving you the loan, but raising your interest rate a little bit”… Oh, let’s say about 2% more! That spells money for bankers.. Don’t let the conversation end there. Know how to bargain!
You have to use what you know as leverage. Tell them:
– Look, if my credit score is the issue, it’s due to the Bankruptcy, and if you just want me to wait a couple of months until it goes up, I have no problem, the person selling the house is a friend of mine, time isn’t an issue, the only person losing out is you, because the prices are only going down..
– Look, I find it very insulting that I come in here, you try to act friendly, and then you try to sell me this idea that Bankruptcy is a risk. I have not 1, not 2, but 3 Credit Cards. If I don’t pay them, they don’t even have a house or land to take. So why would they ever give me one if I’m such high-risk? Because they know, just as well as you do, that I can’t file again for the next 6 years. But they think that i’m back to my old habbits again, and they’re looking to make money. I’m not going to give them that pleasure. I have a zero balance on all of them. So, you can REALLY try to work with me here, and make this thing happen, or else all I have to do is save us both the time and walk to the next bank. Because sooner or later, i’m GOING to find someone who not only gives me the loan, but at the interest rate which I know is fair! I’m only giving you the chance for that person to be you; if you don’t want it, i’ll offer it to someone else..
The point is, don’t let bankers take advantage of your history. You had tough times, I understand, there’s nothing wrong with that. But life is not over, and you can more than take out a loan, and fight a little to get a fair interest rate (around 6.75-8.5% for residential).
I hope this was helpful and informative. Best of Luck with getting your loan! Keep up the good work on your finances!
i think you should be able to get a mortgage but will have to look for one that will give you. be prepared to pay slightly more than high street rates. all the best
The first answer you received is the most accurate. The rest is a lot of mumble jumble.
Conventional financing guidelines require a minimum of 2 years since the bankruptcy has been discharged (chap 7) There really isn’t any way to get around this.
If you can prove there was some sort of extenuating circumstance that resulted in a bankruptcy, you may have the option to go FHA. FHA follows conventional, but may be more understanding of an extenuating circumstance.
Other than FHA and a slim chance, you will be sent to a sub-prime lender.
Also, even with a bankruptcy, your credit score often increases not down. This is because the debt is discharged.
You have done the right thing, by rebuilding your credit. However, I would wait another 9 months to get the two years behind you. It doesn’t make much sense to be stuck in a high adjustable rate mortgage through a sub-prime lender.
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