Q&A: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)?
Question by vinny: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)? expires june 2010. does it mean that i have to rush and refinance before june 2010 even though 5/1 expires in october 2010, discount cheap (assuming that i may owe more than the value). what is the best thing to do? Best answer: Answer by The Mortgage BankerYou may also consider other programs as well through Fannie Mae and Freddie Mac. If you’re loan is currently with Fannie or Freddie there are options for you that allow a refinance of you’re home even if you owe more than it’s current market value. You can check to see if Fannie Mae or Freddie Mac own you’re mortgage by going directly to Fanniemae.com or Freddiemac.com and use the property look up tool. If it is owned by Fannie or Freddie get in touch with a good lender to see if they can help you refinance. Should you refinance now – YES. Why? Because interest rates will most likely not return to the current lows we are now experiencing for many years to come. And with all the goverment borrowing we can expect to see inflation hit the market in the future which will lead to higher interest rates. Please let me know if you have any questions. I am a California Lender. Add your own answer in the...
Read MoreAre FHA Private Mortgage Insurance Monthly Premiums tax deductible if you bought a home in 2011?
Question by : Are FHA Private Mortgage Insurance Monthly Premiums tax deductible if you bought a home in 2011? I saw that homes purchased between 2007 and 2010 that were financed with FHA loans allow for the FHA Monthly mortgage insurance premiums to be tax deductible if you itemize. Does this include any homes purchased in 2011? Best answer: Answer by LandlordNo PMI is not deductable Give your answer to this question below!
Read MoreQ&A: how can i take advantage of the low mortgage rates ?Bought ahouse last year and have a fixed rate?
Question by sunshinecee: how can i take advantage of the low mortgage rates ?Bought ahouse last year and have a fixed rate? I bought my house last year and ahve a fixed rate but now want to take advantage of the low rates prevailing today.My credit is not that good and refinancing could be a problem because of that Best answer: Answer by src50You either refinance or you don’t. Consider the costs. Know better? Leave your own answer in the comments!
Read MoreIf i just bought a house 4 months ago can i already refinance?
Current mortgage interest rates advances: Citigroup Inc. (NYSE:C) takes … Current mortgage interest rates moved up on Thursday as banks adjusted their loan products to the varying benchmarks. Most banks, pilule treatment including KeyBank (NYSE:KEY), JPMorgan Chase, PNC Financial Services (NYSE:PNC) and U.S. Bank (NYSE:USB), lifted … If you would like more informaiton please visit here… Current mortgage interest rates lower: Citigroup Inc. (NYSE:C) offers new … Current mortgage interest rates declined on Wednesday as money flowed away from the government safe-havens. KeyBank (NYSE:KEY), U.S. Bancorp (NYSE:USB), JPMorgan Chase, and PNC Financial Services (NYSE:PNC) were among the banks … If you would like more informaiton please visit here… Current mortgage interest rates slightly up: Citigroup Inc. (NYSE:C) up after … Current mortgage interest rates slightly higher today as the key indexes started to shift in the opposite direction. SunTrust Banks, Inc. (NYSE:STI) and PNC Financial Services (NYSE:PNC) lifted their rates while KeyBank (NYSE:KEY) decreased them. For more informaiton please visit here… Interest rates for farm commodity loans announced "The interest rate for sugar storage facility loans during November is 2.250 percent," Olivier said. He urged anyone with questions about the current interest rates or the CCC commodity loan program to contact the St. Landry Parish FSA Office at 948 … For more informaiton please visit here… Question by cb1980: If i just bought a house 4 months ago can i already refinance? I just bought a house 4 months ago at 6.5%/30 fix through a FHA loan. Obviously rates have now nose dived, sildenafil can i refinance with another company to take advantage of these lower rates- even if its not an FHA loan? Best answer: Answer by pilikiaAs long as your loan has no pre payment penalty. FHA loans have new guidelines, medications as well. But you’ll have to pay closing costs all over again, making the re-fi pointless in the long run. You’ll save in mortgage about what you paid for closing costs twice. What do you think? Answer...
Read MoreAre the closing fees to refinance a house the same as the initial closing fees when I first bought the house?
A few great apartment building images I identified: 0805 | Bauman Apartment Developing | 2009 | West Side Image by Facility Records | MSU Physical Plant 0805 | Bauman Apartment Constructing | 2009 | West Side If you would like to see much more houses click right here… Question by Ken: How much will a Home Equity Loan cost? I am considering using a Home Equity Loan as down payment for the purchase of a second property. I have two questions. Is it true that the interest will be tax deductable if I take out no more than 100k? Secondly, information pills how much typically will a Home Equity Loan cost me in fees? Best answer: Answer by matzaelInterest on home loans is generally tax deductible. This includes equity lines. The fees range from nothing to about $ 1-1500 tops. This is going to depend on the rate. Obviously the ones that have no closing costs typically have a higher rate. Typically for a smaller loan amount you want to go with a no closing cost option and for the bigger ones you’d pay the fees and get a lower rate. Add your own answer in the comments! Question by Think about it: What is the difference between the Making Home Affordable refi and modification? My mortgage loan qualifies for the Making Home Affordable program, viagra but I don’t know what the difference is between selecting a refinance or a modification. My situation is that I have significantly lost income and at the same time my home value has dropped way below my mortgage balance so I can’t sell and my payments are too high to continue making, am already about to miss a payment this month. Best answer: Answer by bobby769Modifications are generally designed for people who are late on their mortgae and/or owe more than the home is worth. Their’s no closing costs and the ‘new’ loan would be with the same bank. Generally less paper work is required. A refi involves more paperwork and and just about anyone who can afford the closing costs and has the required creid tcan qualify for the refi. A refi very often is with a differnet bank. Because you’re upside down on the mortgage (meaning you owe more than the house is worth) you may qualify for a mod. If you do, and the terms of the mod are better (that is, you can actually afford the home after the mod) then I’d say jump on the mod. One thing to keep in mind. Sometimes you are required to bring the mortgage current in order to get the mod. If this is something you have to do but don;t have the funds to get current, beg and borrow to get that money from family or friends. What do you think? Answer below! Question by Cool Dude: Does anyone have a handle on how much the Feds spend on banking regulation? I tried to find out how much is spent on enforcing just the Home Mortgage Disclosure Act (HMDA) and the Real Estate Settlement Procedures Act (RESPA), buy which entails an army of government lawyers and statisticians, cure but neither my Congressman or my Senators could come up with an answer and didn’t seem particularly concerned that no one knew. My guess is that more money is spent by the lending industry itself in government mandated reporting and by the Feds in excessive monitoring and regulating than would be needed to fund every loan ever turned down by any lender for any reason whatever, physician including fraud and bad credit, let...
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