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Mortgage Strategies for the Inexperienced

twit273 asked:

bush speech 2002 encouraging freddie mac and fanny may

jmsoct31 asked:

those annoying dancing mortgage ads, ONLY set to music in comical fashion

maggie asked:


The problem is that 2yrs ago I made the mistake of getting a loan for my sister who did not have any credit. She wasn’t able to pay the mortgage and now the house is under forclosure. The adjustable rate increase is on a condominium that I am leasing out, not on the house that is under foreclosure I have always kept up with my payments and was unaware of my sisters defult on the mortgage until recently. My question is: Is there anyway that I can stop or atleast postpone this increase eventhough I am in forclosure status on another property? I can’t afford this increase right now, I am only 24yrs old in college and don’t have any savings to help me out thru this dilema. Any advice would be sooooo greatly appreciated.

Andrew asked:


Me and my wife will shortly be going through a divorce.

She lives in our house with our 2 children and I have moved out.

My concern is that the mortgage is mainly based on my income as the full time worker and she would not beadble to buy me out or take on the mortgage.

Although I’m not gonna kick my children out of their home this situation does not allow me to get a mortgage for myself.

Can you still have a joint mortgage once divorced?

AlJazeeraEnglish asked:

The mortgage crisis that helped trigger the US recession is hurting more than just home owners. An increasing number of tenants are being forced out as well. That is because once the banks take possession of a home, they evict whoever is in it – even if they’ have never missed a month’s rent. Al Jazeera’s Tom Ackerman reports on the plight of one such family in the Midwest state of Indiana.

schweezy7 asked:


My husband and I want to apply together for a mortgage, his credit score is excellent, mine is non-existent since I have been in the US for only 3 years and have used credit cards related to my husband’s account only. Is there still a way for me to be on the mortgage?
Will my income be considered as part of our assets when we apply?

bjm_116 asked:


if i buy a home of $350,000 detached / semidetached and 10,000 down payment then how much mortgage will i have to pay every month????

thanks for the answers
well if not 10,000 then wat abt 20 or 25 ?

Die Bart Die asked:


Our realtor advises that only buyers with cash in hand can buy foreclosed properties at auction. There is a technical challenge buying if you need a mortgage as you have to be in contract to be able to get the mortgage approved. Is this true or is there a valid way you can get a mortgage and bid on a foreclosed property at auction?

khanacademy asked:

Simple example of borrowing from equity to fuel consumption … accounting finance credit crisis mortgage

Lilmissmonitor asked:

Interested in a mortgage? He’s your man!