Renting & Real Estate | Home Loans

How does mortgage fraud affects the subprime mortgage crisis?

Renting & Real Estate 09.09.2010 4 Comments

Iñigo asked:

In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What’s the part that these frauds played in the actual mortgage crisis ? Thanks.

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Tags: Mortgage Fraud, Mortgage Frauds, Subprime Mortgage Crisis

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what is the benefit and process of combining two mortgages into one loan?

Renting & Real Estate 16.07.2010 6 Comments

moham asked:

I have heard that you could combine two mortgages into one loan, I have two investment properties, one loan is for $142000 and the othe is for $130000, will it be possible to combind them and own one property free and clear ?

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Tags: Benefit, Investment Properties, Mortgages

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How much mortgage debt is there in the USA?

Renting & Real Estate 08.07.2010 6 Comments

PrimeConcern asked:

Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

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Tags: Household, Trillion, Usa Credit

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Do lenders offer loan defferments or modifications to home loans if you are unable to pay for 1 month. ?

Renting & Real Estate 04.07.2010 1 Comment

somethincute4u04 asked:

I want to be able to add the payment to the end of my home loan, not not get on a repayment plan. I am looking an option for only 1 month.

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Tags: Home Loan, Home Loans, Repayment Plan

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With the Federal Interest rates so low can I refinance into a lower fixed rate with not so good credit?

Renting & Real Estate 25.06.2010 1 Comment

edawg32 asked:

I bought my first home from my parents about 2 years ago. The loan at the time was 8%. With the federal interest rates so low is it possible to refinance my fixed rate loan to a lower interest rate with not so good credit. I have a few lates on my mortgage along with an apartment eviction this year and collection accounts. Am I doomed to fail?

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Tags: Collection Accounts, Mortgage, Refinance Loan

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Has anyone out there actually successfully closed on a Quicken Loans NEW HOME loan, without complication?

Renting & Real Estate 14.06.2010 1 Comment

Christopher D asked:

I am beginning to believe that my “pre-approval” from Quicken Loans was “too good to be true,” and that the actual process of acquiring the loan and closing will be an entirely different story. has anyone out there actually closed on a NEW HOME (not refinance) Quicken Loan without hassle and without losing their “good faith” deposit?

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Tags: Faith Deposit, Hassle, New Home Loan

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Are the massive drops of interest rates & falling shareprices the start for a new property boom?

Renting & Real Estate 05.06.2010 1 Comment

Sisyphus asked:

In Sydney at least, current conditions are:

- Sharemarket volatility
- Bear market
- Massive cuts of interest rates
- Few new housing constructions because of the recession
- Rental shortages
- Years of stagnant property prices (property bubble popped in 2004-3).

Good conditions for the next property boom?

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Is their any home loans for people with FICO score below 600?

Renting & Real Estate 02.06.2010 5 Comments

T asked:

I am looking to purchase a new home in Florida. However, I learn my score is below 600. Does FHA loans go by FICO score? Is their any loans out there?

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Tags: Fha Loans, Home Loans, People

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What happens to a second mortgage when a home is purchased at a foreclosure auction?

Renting & Real Estate 12.03.2010 5 Comments

buad0118 asked:

I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own additional money to the second mortgage or just the first mortgage and back taxes?

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Tags: 1st Mortgage, Mortgages

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How does mortgage fraud affects the subprime mortgage crisis?

Renting & Real Estate 11.02.2010 4 Comments

Iñigo asked:

In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What’s the part that these frauds played in the actual mortgage crisis ? Thanks.

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Tags: Mortgage Fraud, Mortgage Frauds

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