• Why don’t mortage companies who have lended ARM mortgages just convert the loan to a lower rate fixed?

    Credit 11.09.2010 3 Comments
    Will asked:


    Just wondering in the whole backwash of subprime lending and ARM loans recently going under, why havent mortgage companies investors just lose less by converting those mortgages to a lower fixed rate to save the company, the consumer and the US economy? Many mortgage companies are out of business now, at it seems if who is left can at least cut some of their losses, it would be good for all.

    Please no stupid bashers, I want financial experts to explain this to me. I don’t have a mortgage, but would like to buy a house in the near future. I have no degree in business so I havent a clue what this entails.

    Thank You

    Cycling Gloves

    Tags: , ,

    Permalink

  • Mortgage?

    Credit 07.09.2010 5 Comments
    YEEH! asked:


    I recently got a letter from my bank saying I owed them $199 from “late payments” on my mortgage. (you know how your mortgage is due and if you pay it late they tack on a charge) Well, everytime my husband went to pay our mortgage even if it was late, the bank teller never tacked on the charge. Anyways, they are saying their going to take us to collections for the amount due, does this mean their going to try and take our house? We have never missed a month on our mortgage, just a few times they didnt tack on the late charge…can anyone answer?
    It’s was late a few times because our son was sick and we spent a ton of money going back and forth to st judes. But that wasn’t my question, will they try and take our house?

    and we are making them on time now.

    News Online

    Tags: , ,

    Permalink

  • what credit card has the best interest rates and is safe?

    Credit 04.09.2010 8 Comments
    Kelcey D asked:


    I currenty have a master card that has outrageous interest rates so im looking for a new one..anyone have any suggestions?

    Ladies Motorbike Pants

    Tags: , ,

    Permalink

  • what percentage of the bad loans are home mortgages?

    Credit 10.07.2010 2 Comments
    Stephan asked:


    The government is shelling out 700 billion dollars to buy the bad loans that are putting the big banks in danger. We are told that the bad loans consist mainly of unpaid mortgages (sub-primes etc). So the government is effectively buying 700 billion dollars of housing. If we estimate the price of one house between 100k$ and 350k$, then the government should be acquiring 2 to 7 million houses. That is, unless we are being misled and that these bad loans were made up of a lot more than just home mortgages…

    Icon Motorbike Pants

    Tags: , ,

    Permalink

  • Mortgage?

    Credit 10.12.2009 5 Comments
    YEEH! asked:


    I recently got a letter from my bank saying I owed them $199 from “late payments” on my mortgage. (you know how your mortgage is due and if you pay it late they tack on a charge) Well, everytime my husband went to pay our mortgage even if it was late, the bank teller never tacked on the charge. Anyways, they are saying their going to take us to collections for the amount due, does this mean their going to try and take our house? We have never missed a month on our mortgage, just a few times they didnt tack on the late charge…can anyone answer?
    It’s was late a few times because our son was sick and we spent a ton of money going back and forth to st judes. But that wasn’t my question, will they try and take our house?

    and we are making them on time now.

    Female Hormone Level

    Tags: ,

    Permalink

  • How high are interest rates on a car loan on bad credit?

    Credit 10.05.2009 5 Comments
    lei514


    I just want to get a general idea from people who have or who have known someone else who have gotten a car loan on bad credit and how high the interest rate is.

    Let’s say the applicant has a well-paying job but only for the past few months (say, 90k/yr). Looking at a new car 20-30k, on a 5 year payments plan. Down payment is 10%-20%.

    What interest rates would you expect for mid-500′s credit score?

    For 500?

    For high 400′s?

    Even lower? (is that possible?)
    So car loan companies look at a lot more than just the credit score, right?

    As in, a 550 credit score (due to no credit history) is much better than a 550 score that’s due to collections and late payments.

    Tags: ,

    Permalink