I am applying for a110,000.00 mortgage am putting 70,000.00 down and financing 40,000.00.My credit is not very good. I mean it’s not the worst ,but poor.Do you think I can get financed for 40,000.00. Answer: You didn’t mention what your debt to income ratio is. You didn’t mention how much you make a year. You …
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Can someone please tell me the difference between a 2nd mortgage, home equity loan and refinancing?
Answer: Yes. Home Equity Loans are more like credit cards and affect your credit that way. They are also almost exclusively adjustable rates. HELOC’s are generally available “for free” from most major banks. Know why it’s free? Because they are going to make a TON of money from you as long as you have the …
how much of a home(rent or mortgage) is tax deductable if you work from your home?
i want to work from from home/apt., but want to know what or how much is the rent going to be deductible. Answer: You should have a part of your home exclusively for business use. For that part, you can deduct rent and utilities as itemized deduction.
What happens to a second mortgage when a home is purchased at a foreclosure auction?
I am going to bid on a house at foreclosure and it has a 1st mortgage of 0K and a second of K. 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 …
Can you still qualify for a home equity loan if you behind on mortgage payments?
I’m behind on mortgage payments because, i’m going through a loan modification, but i need money to pay for school, will i be able to still get a home equity loan. Because my credit is not amazing. Answer: No. That’s the FIRST thing a lender will check before granting a home equity loan. If the …
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