mommyv asked:


I was previously behind on my mortgage, and was allowed to do a loan modification to become current. I sent in a 3,300 down payment to be set up on a loan modification. Now I have a new 30 year fixed rate mortgage, and $13,125 in the escrow account.

Leonard

Sara asked:


Another house-buying question from me, here…

I was researching this, because I intend to buy a mortgage with a long term and fixed interest rate. My credit score is currently a 620, and my husband’s is a 650 (considered “fair”, by what I’ve read). The ballpark I got for mortgage interest rates, at that level, was 7.0-7.5%. Does that seem realistic?

My credit is by no means bad, I have no late payments at all, nothing over limit (or even close to over-limit), and am using about 47% of my total credit limit. I haven’t purchased anything on a credit card in a long time, instead I’ve just been paying them off (more than the minimum payments, by far).

The only bad marks on my report are some hospital bills that were sent to collection agencies, which have been paid, but of course they still show up.

Does anyone with any experience care to comment on the credit score/interest rate arena?
To answer a question - yes, the collections do show up as “paid”. But I believe they still remain on the report as a matter of record.

Lillie

jsb5115 asked:


I am one of many who lost there job and or spouse that has or both. In my case my wife lost hers and living in a two income state of California my first question to myself was “how do we pay the Mortgage?”. After running the numbers, we are able to stay afloat on my income and my wife’s unemployment but there’s a catch. Our mortgage interest rate will have to go from 7% down to 4%. Does anyone know what the process is for asking for a lower interest rate?
1. Do I default now on the mortgage?
2. Do I give the mortgage company a couple hundred dollars showing that I am trying to pay back by debt?
3. Do I call the mortgage company and ask for 4% since that’s what I can afford? (before defaulting or after defaulting?)

Thanks

Corey

Devin C asked:


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?

Doris

John P asked:


I have asked for some online quotes for the mortgage interests, they took a generic info as how much would be my fico,salary,debts and gave me a rate quote.(ex: 5.25% 5.13%)

1) Now when I actually start talking to them , do they have to
run my credit history to give the correct rate ?

2) If I call 3-4 people from the online quotes what they have sent
me, does everyone run my credit history to give me the actual
interest rate ?

3) Does it effect my fico score ?

This is only to know what interest rate am I getting for the home which I wanted to buy

Leslie

Muse asked:


Have one of those ARM nightmare loans. Can’t refi - husband has marks on his credit now. Options?

Terri

cardinalfanusa asked:


Rates went up in April/May/June, and have declined or held steady for the past 3 weeks. In your opinion, what will the rates look like over the next 12 weeks? Why?

Alan

ronda t asked:


be such as refinancing at a fixed rate. I have thinking about foreclosure and it stays on your credit report forever. Any suggestions out there?

Elsie

Robert S asked:


I know there’s no way of knowing, but what’s your gut?
Sorry, I’m in The States.

Gerald

lilbagel21 asked:


lower rate but, 95% mortgage. what should i do

Rachel