chan asked:


Why this time when the fed cut interest rate down to 2.75% but the morgatge loan sitll around 6.00%?

In the past (2000), when fed cut then the bank lower their home loan interest.

Marvin

Eva G asked:


I am paying 880.00 a month of which approx 100.00 is PMI. 6% , 30 year fixed rate mortgage on a house I bought in August this year. Thanks!

Bertha

augustbmc asked:


was it $400*9%=.09 idk i am having trouble with the last one mortgage

insurance expires at the rate of $400 per month.
a count on august 31 shows $600 of supplies on hand
annual depreciation is $6,000 on cottages and $2,400 on furniture
unearned rent of $4,100 was earned prior to august 31
salaries of $400 were unpaid at august 31.
rentals of $1,000 were due from tenants at august 31
the mortgage interest rate is 9% per year

Ramon

s-man asked:


No mortgage sales people please
I’m thinking about refinancing. I have a 6.25, 30 yr currently.
If you’ve just closed on a mortgage, what’s your rate?

Roger

ROY A asked:


not only is my rate adjusting soon i just found out that my condo is worth less then what i owe i will not be able to make the payments after it changes cant sell because i owe more then it worth is there anything i can do to safe my condo so it doesnt go into default i think it crazy that my condo was just valued at 85,000 last year and now its not more then 74,000 i owe about 82,000 im so screwed please help

Ana

Timothy H asked:


Hello, here’s the situation:
I currently have a mortgage of left of $159,000 at 6%. This is a 30 year mortgage, but I have been paying extra each month; and I am at around year 23. I also have a home equity loan of $25,000 at 7.25%. I am planning on paying the $25000 loan off in the next 5-6 years.
I went today to possibly refinance, she told me “Fixed rate at 5.75%, 30 years.” I can either combine the two and pay that, or pay my $25,000 at what I am paying right now; and just refi the $159,000. She is charging me $2000 in closing costs. If I wait, and the rate drops after closing, I get charged $700 more to lower the rate.
Should I wait until the 30th when the Fed either cuts, keeps were they’re at, or raises rates? This way, I will not have to pay the $2700 to get to that lower rate.
What do you think, please help me out. Any advice is appreciated. What impact will the rate cut have on my situation? Thank you! Tim

Allison

Geoman asked:


We are specifically looking to go from a fixed 6.5 % to a fixed 5.9% or lower.

Rosa

concerned_earthling asked:


I am looking for an acronym that fits the word leg.
I started with Liquid Equity Grab.
As in the bank grabs the equity in your home.
Free up the equity in your home and really pay the bank more with a LEG (Liqiud Equity Grab)
That does not sound official like an ARM (Adustable Rate Mortgage) does.

So here is the idea either a whole new acronym that fits the LEG or a word that starts with G that fits and sounds official.

The end result must be an official sounding phrase that uses the phrase an ARM and a LEG.

My house cost me an ARM and a LEG.
leg isnt a mortgage acronym BUT arm is !

The Idea here is to make an official sounding acronym that uses the letters L E G
So that one can say my house cost me an ARM (* Adustable Rate Morgage) and a LEG ( Liqiud Equity Grant , grab, garnishment , garniture , ? , ? ,? , , , )

Lewis

dell4us2000 asked:


my adj. rate mtg adj. in 10 months and i will not be able to afford it then please help.

Debbie