Where can I find the lowest mortgage rate?
I’m trying to refinance and I’m looking for a low mortgage rate from a legitimate organization. Any suggestions?
I’m looking for 4.5% from a legitimate organiztion
I know of a wholesale lender that gets pretty close to that on conventional loans as long as you have excellent credit and 90% or less on the loan to value.
What is a good company to refinance my home with?
Any suggestions would be appreciated. My current rate is 5.0 but I know rates are much lower now.
First google: Should I re-finance calculator
You could be better off putting the thousands you will pay in closing costs towards the principal.
And note that 15 year rates are super low – 2.75%
^ go with this to be a winner
Bankrate.com is also a known site for finding best lenders out there.
How easy is it to get a mortgage lender to agree to a short sale and waive the remaining debt?
I have two homes with one mortgage on each (same lender). One home is now in negative equity and has a high interest rate on the mortgage. Even though the bank refinanced the home only two years ago as an 80/20 loan, they will not allow me to refinance now. I thought about renting until the market get’s better but I can not cover all of the costs.
Its easier to get the bank to approve a short sale recently. You will likely have to be several months behind and it will be an alternative to a foreclosure.
Check with your lender as they may issue a 1099 to you for the loss they incur. Then you are stuck with the taxes.
Its really tough out there and the market just keeps getting worse. I have been a RE appraiser for 23 years and never seen the market this bad.
Sorry for the bad news;
What is the forecast for mortgage rates?
The rate now is lower than when I took out the mortgage (5.5% Massachusetts). The house is worth less though than when we bought it.
Would your best guess be that are they going to continue to fall? Or jump on now. And why do you think they’ll fall (or rise)?
One more thing. Go real slow for the blonde in the room. I don’t speak math.
It should be around 5% or maybe drop to 4.7% by end of Q3 this year on 30 year fixed rate home loan.
Should a mortgage lender be held responsible when a past due homeowner commits suicide?
I just had a friend commit suicide because he could no longer pay his mortgage. His lender refinanced his home five years in a row with his payments going from 600 per month to over 1400 per month. The house was biult in the 1940’s and was only 800 sq feet. The lender knew he was on disability and had fixed income with no other assets.
Yes, there were other issues like his disability and his cancer, but when he could no longer afford his home he just gave up.
I’m very sorry to hear about your friend’s suicide. This is a very sad story.
It sounds like the lender was horrible.
I think you would have a hard time finding a lawyer to take the case. My experience is that lawyers only want to take case that they know they will win.
Usually people re-finance their homes to lower their monthly payments. I can only speculate that your friend had an adjustable rate mortgage. (Mr. Greenspan was a big fan of adjustable rate mortgages at one time.)
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