Archive for house mortgage
May
31
Does anybody else have mortgage problems with CHASE HOME MORTGAGE?
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We have 2 mortgages, both delinquent of course, and have had our house for sale for the past 6 mos. We have finally been offered a very good price for our house, close to 100% of the appraisal. We owe more than it appaises. To keep it out of foreclosure, we called CHASE to get a dollar amt they would accept to close out our account,( we owe 128, would they settle for 120 as a pay off, we owe 32 on 2nd mortgage would the settle for 20 as pay off. The 2nd mortgage said yes but our 1st wants all kinds of info, even from the buyer that will have to spend his money before we even know if we can do business. My wife and I are totally destitude. Can’t find work that pays enough to rent. All we need is an Answer from CHASE and they are making this harder than it has to be. Hopefully someone knows something that can help us out. I think CHASE HOME MORTGAGE WANTS to Foreclose.
May
28
My family is having mortgage problems?
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My mother is 51 years old (goind on 52) and my grandmother is 80 (going on 81). I am 16 years old and my brother is 19 years old (going on 20) and we are bother currently unemployed and he is in college and i attend in a public high school. My mother works in a casino and isnt making much money, only about $1,200 a month, and my grandmother only get $1,000 a month from when she retired. My mom pays for the mortgage witch is $1,800 a month, it use to be $1,200 but they raised our mortgage and my grandmother pays for the bills and food and part of the mortgage. They can’t afford to pay the mortgage anymore so now they have stopped paying the mortgage. They have contacted the bank to try and lower it but they refuse to help us even after obamas speech. We had other people try and help us too but everyone says that $1,800 is really low. By the way our how is worth $200,000 about, it use to be $150,000 around there when we first moved in. We heard of Obamas plan for housing and we still are unsure if we qualify and we arent sure what to do. Can anyone suggest any help to us? And can somone please explain Obamas plan to me so I can understand because im getting different stories about it. Thank you so much in advanced.
May
27
Would a reverse ARM be helpful in resolving the subprime mortgage problem?
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The big problem seems to be people defaulting on their mortgage loans, which leads to foreclosure and losses for the banks.
What if the banks offered to take 20% of the mortgage amount and put it in a non-interest accruring loan account, base mortgage payments on the 80% balance at high interest rate, allow the home owner to make optional payments to pay down the 20% to qualify for lower interests rates on the 80% mortgage, would this be helpful in keeping these mortgages viable?
Would this help in avoiding a taxpayer bailout of the financial system?
May
27
I am an only child with 2 kids and 3 grandchildren. Father deceased and Mother has dementia.
May
21
How can I fix this mortgage problem with my home’s title?
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I’m trying to sell my home, but it seems an unexpected mortgage comes up on the title check. That mortgage has been paid off over 10 years ago, and I haven’t been paying any mortgage since then. The mortgage company that held the mortgage has been sold and bought numerous times by other companies and I’m having trouble trying to get verification for the buyers that the mortgage has been paid. I need to do this quick so the buyers don’t back out. What can I do?
May
15
Mortgage problems need more help?
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For each mortgage there is a clause that you must have property insurance. Mine is escrowed in so it will be a little easier on paying. But the cost of insurance and property taxes is nearly the same as the mortgage payment. I pay $724 a month. Subtract the fixed mortgage payment and that leaves $329 a month I pay for insurance and taxes. I have no claims on my insurance with State farm. This cost has been going up around $100 a month with each passing year.
In 2002 my payments was $412 a month. Today my payments are $724
Home value in 2002 was $69,500
Property taxes for 2008 was around $600 after property tax relief adjustment.
May
14
Many people have said this will cause tons of problems but Hillary has basically said there’s no evidence for it. She has said in her debates that independent economists have said this will work out fine. What do economists really think the effect will be and why?
May
09
How are mortgage interest rates determined?
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What I mean by that is I assume there is a formula which banks use to figure out what mortgage rates to offer a customer based on prime rates, customers credit history, size of mortgage, etc…
Does anyone know how this process works and the specific formula/methodology used?
thanks in advance!
May
05
Why is President Bush blamed for the sub-prime mortgage problems when it is the majority Democratic Congress that passes the laws and supported the Fannie and Freddie program?
Why blame Bush when it was President Carter who started and supported Fannie May mortgages to lower income people?
Clinton also supported and pushed the Fannie and Freddie mortgages.
Remember the Congress has been Majority Democrat since 2006.
For 2 years now they have fought against any Republican trying to stop the sub-prime mortgages.
So it does not make sense to blame Bush.
May
05
When the fed lowers their rate, how exactly does this affect mortgage rates?
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is there a ripple effect? is there a conversion formula? is the affect on mortgage rates delayed? if so, by how much time?
