scheeljason asked:


I don’t have poor credit but my wife’s is good. We are wanting to buy a house at the end of the year. We are have been slowly trying to fix my credit but it takes time. Will we be able to get a home lone? What can we do to ensure that we get good rates on a home lone even though only one of us has good credit?

Duane

Kate373 asked:


My parents bought their home 4 years ago at a 4% rate, which is due to change next year when their loan rate. With the market crunch and the new strict lending that’s bound to occur as a result of this, they are worried about what refinancing has in store for them. The good news is that they have flawless credit (they successfully removed their PMI, and they are early every month on their mortgage payments —and they pay an extra couple of hundred dollars than they should. Not to mention their credit card debt is very low (only a couple of thousand dollars). They’ve both been at their great paying jobs for over a decade; but they are still worried about whether they will be able to secure a decent fixed rate when their mandatory refinance is up. Any hope?

Ronald

Pam asked:


I am looking at buying a co-op. I was given the number of a mortgage broker but I have read mixed reviews about using one. What should I look for in a good mortgage broker and what should I spot in one that is trying to take advantage of me. I know that I want a 30-years fixed rate mortgage and I have a good credit history. What question should I ask the broker and what is the process of working with them?

Stephanie

stacey b asked:


My loan penalty will be over in Feb.2008, from fix at 10% for $5292 a month, after that it will be adjustiable rate. I can’t refinance for lower rate because of self employed and low credit score. wonder if adjust. will be ok for me? how does adjust. work? We are in Contra Costa, california.

Peter

Anj asked:


My husband and I are planning to purchase a new home in the next couple of months. I know that traditionally, without 20% down payment, banks require you to pay PMI. While I understand the bank’s perspective on this, as a buyer – it seems like money thrown to the wind every month.
My husband has impeccable credit, so we can get a good interest rate. We just aren’t in a position to put 20% down at this time. I have heard about 80/20 loans, but I am not sure if that is a better option. I am only intrested in a 30 year fixed rate mortgage – no ARM! Do I have any other options other than PMI???

Gilbert

CatDad asked:


I’m self-employed and I have an exceptional credit rating: Equifax FICO is 802 and TransUnion is 789……Does anyone know if I can get a fixed mortage for, say 100K, based entirely on my credit score?

Bertha

nevek_1 asked:


I have good (over 700) credit. I am not behind on my mortgage. I have a fixed rate on my house. But I hear all the advertisements for loan modifications for people in trouble. I am upside down on my mortgage,, How can I get my loan amount reduced?

Vicki

SB1976 asked:


I bought my house five years ago. I’ve got a 30 year fixed rate at 5.5%. My mortgage company is Well’s Fargo. Every month, in addition to my payment, I pay into an escrow account plus $50.00 for mortgage insurance. Can somebody tell me exactly what this “mortgage insurance” is. My credit rating has been above 800 for years and years and I have a bank draft for my payment and have never been late making a payment. So why do I have to pay an extra fifty a month for this mortgage insurance?

Robert

lindsay asked:


I want to refinance to get low interest on a 2nd mortgage I have. I owe 36K on the first & 48K on the second. My first mortgage has a fixed rate of 5.5 but the second is fixed at 7.65. Both loans are with the same mortage co. & I would like to keep it that way if possible…by the way our credit scores are just over 800.

Brenda

imjetguer asked:


What are my options? I don’t want to lose my home because of the rates going up. I would like to refinance it into a fixed rate. Anyone have any good advice? imjetguer@yahoo.com
only $125,000

Chad