Q&A
Asked by Kathleen
Having liquid (cash or cash equivalent) funds
available after closing is always preferable
to tying up your funds in the new home. If
the water heater breaks, the AC ...
Q&A
Asked by Erin
Answered by James Talbot
Mortgage Professional in Metairie, LA
Mortgage Professional in Metairie, LA
Erin,
Yes, thankfully they are. There was
a time just after the market meltdown when
they weren’t but eventually the market eased
up and started allowing them agai...
Q&A
Asked by Katie
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
Mortgage Professional in Westlake, OH
This depends on a couple of factors.
One:
Is the tax bracket you are in, can you deduct
the mortgage interest if you got a
mortgage?
Two: What rate of return ca...
Q&A
Asked by Joseph
Hi Joseph. There's several areas to consider
here. Was this home listed on the MLS? Did
you have a buyers' agent, and if so, did
he/she do a CMA (Comparable Market ...
Q&A
Asked by Lynn
Reverse mortgages are a great tool, in certain
circumstances, and an expensive mistake in
others. Their interest rates and costs are
higher than typical mortgages, an...
Q&A
Asked by Michael
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
Mortgage Professional in Westlake, OH
The fixed or adjustable question depends on
your goals and risk tolerance. A big
question to answer is: "How long will you live
in the house?" If you know goin...
Q&A
Asked by John
All good points above, particularly using a
loan officer who tracks MBS trading in real
time, and who understands the factors that
influence rates. Shorter term locks...
Q&A
Asked by Erin
No, you can't endanger your current loan by
attempting to refinance. Some borrowers start
the refinance process however, hear "you'll
skip two month's payments", and ...
Q&A
Asked by Erin
It's important to realize the distinction
between a mortgage lender/bank and a mortgage
broker. Brokers write loans, send to the
actual lenders for approval (in most ...
Q&A
Asked by Clark
Hi Clark, I agree with Mike that the most
likely solution is for your son to refinance
the loan into his name, based on his credit,
income, and debt ratios. You woul...
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