mortgage?? if i buy a home of $350,000 detached / semidetached and 10,000 down payment then how much mortgage will i have to pay every month???? thanks for the answers :) well if not 10,000 then wat abt 20 or 25 ?

How does mortgage fraud affects the subprime mortgage crisis? 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.

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 $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?

Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job? I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I've been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months. The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address. I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don't need to borrow to pay debts.

I have a mortgage on one home, can I get a second mortgage to pay for another house? I'm planning to relocate, but current owe a mortgage for $50k. I also have a bankruptcy on my record thats a couple of years old. I'd like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one?

How much mortgage debt is there in the USA? 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.

Can you get a mortgage allowing you to bid on a foreclosed property? Our realtor advises that only buyers with cash in hand can buy foreclosed properties at auction. There is a technical challenge buying if you need a mortgage as you have to be in contract to be able to get the mortgage approved. Is this true or is there a valid way you can get a mortgage and bid on a foreclosed property at auction?

How do I become a mortgage broker in ohio? I know the mortgage industry is in a mess right now, but I am looking toward the future when we rebound. Wondering what requirments there are to become a mortgage broker in Ohio. I am looking to work this industry on the side, as I already have a full time sales job. Also what are the typical commisions paid to brokers for sub-prime, prime, and jumbo mortgage loans...is this split with the company you work for? I already work 100% commission, so that is not a problem. Any input on this career is greatly appreciated, ie the ups and downs.

Mortgage Finance Experts: How will the market affect homeowners who will be refinancing next year? 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?

What happens to the second mortgage when the first mortgage forecloses? I am going through a foreclosure on my first mortgage, what are my options with dealing with the second mortgage? Any legitimate websites with guides for dealing with the aftermath of foreclosure would also be appreciated.

How can I become a mortgage broker in california? I simply cannot seem to find legitimate information on becoming a mortgage broker in California. Many of the web sites that purport to have information really share very little of anything and some are just plain frauds. I'd like to find information on mortgage broker training and possibly information on finding a school (preferably Los Angeles) where I can get training on becoming a mortgage broker.

What happens to a real mortgage when a debtor files for bankruptcy? I'm a creditor whose debt is secured by a real mortgage. I've received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent debtor by the way is an individual, not a corporation. Please prvide legal basis. Thank you. :)

How often do mortgage comapnies use the 4506 t form to very info. Always or hardly ever when buying a home? If you provide the mortgage company with all the requested info do they typically follow up on that. Does it vary from company to company or is it a common practice for them to execute the 4506t form. Also, has anyone everheard of first choice mortgage in charlotte? Any thoughts on them?

How do I become a mortgage broker or mortgage agent in California? I am fresh out of a college. Not just any college; a community college. And I need step by step how to become a mortgage broker or mortgage agent please. Thanks alot.

What is the best mortgage advertisment you have seen? I am a Mortgage Broker looking for some good ideas for advertising. What is the funiest or best mortgage ad anyone has seen? Any loan officers out there with any creative new ideas?

What happens to the mortgage on a house that is left to me in a will? A relative will be leaving me a house in their will. If there is a mortgage (home equity) on the house when they die, do I take over the mortgage? I intend on selling the house when it is left to me.

How do i find a job as a mortgage loan officer without any mortgage experience? I currently work in a distribution center, and i have a bachelors in economics and psychology. I am interested in becoming a mortgage loan officer so i took a 24 credit hour course in residential mortgage lending but unfortunately i haven't been able to find a job because i do not have any mortgage or lending experience. What else should i do to achieve my carer goal?

How much money do mortgage brokers make? I heard that mortgage brokers drive Porches and make tons of money. By and large, how much does the average mortgage broker make?

What is the best mortgage to go for in London banks? I am a first time house buyer and need to find a mortgage wihtin the next 16 weeks. I would like to know what banks are doing the best mortgage deals at the moment, can anyone help?

How do you calculate what your mortgage payment will be without using a mortgage calculator? Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? Can somone show me how to calculate a mortgage payment like for example what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years? I need to know how to do the mathematical calculations, don't just give me the anwser.

If mortgage bonds are secured corporate bonds then how did the subprime bubble happen? I am trying to understand secure bonds and I know mortgage bonds are secured bonds,if that is the case,even if they default ,the investor should get the prinicipal back.Can someone give an explanation of this works.

Can a first mortgage be refinanced to a lower rate if there is also an existing second mortgage? If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at different terms, can this be accomplished - does the existing second mortgage put a monkey-wrench in refinancing the first?

How does making your mortgage payment bi-weekly save you money? I got a letter in the mail from the bank that says paying our mortgage payment bi-weekly instead of monthly could save us $40,000 to $100,000 in interest and reduce our mortgage term by 7 to 9 years without refinancing. How does this work?

How could I work out my monthly mortgage payments if I only had a pen and paper? I know I could use a simple mortgage calculator, but I am curious to know how my mortgage payment is arrived at. Is it cumulative interest plus principal divided by years and months. Please could you supply a detailed example as I not too hot with maths. For example a £100000 mortgage at 5% over 25 years.

How does mortgage companies work when a person dies? My mom and sister are both named on the mortgage. Payments are still being made. My mom just passed and my sister does not have a job because she was caring for our ailing mother.

How do mortgage companies determine which credit score to use? With the three credit scores being different, which do they use to determine you qualification for a mortgage? Or do they simply average all three scores. My husband has two scores at around 540 and his transunion is at 605. What are his chances?

2nd mortgage Foreclosure: How long is the delay to put it on your credit? We paid off a 2nd mortgageforeclosure before it went through. We continued to pay on our first mortgage with no problem. The attempted forclosure was not on our credit report until we refinanced with a new mortgage company. Is this fair? It looks suspicious that it only appeared on our credit after we refinanced with a new company. We understand that business is business but it seems that they were fine with everything until we pulled our mortgage from them and went with another company.

How does my mortgage affect letting my house out? I have an interest only mortgage with my mortgage lender but I would now like to let my house out. I have been advised that if I let my house out I am obliged to let my mortgage provider know. I don't know what the repercussions of this would be if I did or didn't tell them. How would they find out if I just let it out anyway? What would they do if they ever found out? If I meet their mortgage repayments they shouldn't have a problem, should they? Can anyone enlighten me on these matters?

Can a Mortgage Company hold your insurance check for the repair of your building? My building suffered damage with a hail storm. The insurance company sent me a check made out to the mortgage company and to me. Now the Mortgage company is holding the funds and I can't finish the repairs needed. My mortgage payments are up to date. The repairs are done, the Mortgage company inspected the repairs and they are holding the depreciation check. Would anyone know why?

How can I get a mortgage if I have credit score under 400? Most of the mortgage companys I have tryed will not give me a mortgage because I have a credit score under 400. They say they will not help anyone with out having a credit score over 500. I have a fourclouser on my credit and a really old credit card bill that I refuse to pay. Other then that every thing else on my credit report has been paid. Some late some on time. I have tryed every mortgage company on line and the bank in my town. I DO NOT want to get a credit card to 'fix' my credit history. I have had those and I do not do well with them. Or a store card either. Or a gas card. I think things will stay on my credit report for up to ten years but I would like to know if there is a mortgage out there that will give me a mortgage now. Yes I have thought about rent. Adam.. What is a a self certify, tracker based mortgage ? ok OPEN: Why jump all over me. I was just asking for help. I DO NOT THINK I KNOW IT ALL. YES I have had a credit card and I have come to learn that I do NOT need one. I have a debit card Visa card and that is ALL i need. How can I fix my credit with out findone someone to help me out. Things happen, I am NOT the only one that has gotten in this postion. I want to respond to why I refuse to pay off the credit card that is on my credit report. I had a credit limit of 300$ It got up that high and I decided that I did not need it any more so I canceled it. Come to find out a few months of 'paying' on it to pay it off the credit card co. was still charging 'finance fees' to it. after talking to them they informed me they could not completly cancel it untill it was at 0. I told them the reason I canceled it was cause I could not affored it. To add charges to it would not help me pay it off. I have spoke to other credit card co and have been told they can stop charging to it it they want. The credit card bill has gone from 350$ to over 15 hundred dollars. Pride or not I find this unprofessional and rude and that is why I refuse to pay it. If they would agree I would pay the original 350$ if they would take off the rest of the 'Charges'

What is the differences between all these different mortgage terms? I am looking into different mortgage. Get very confused by so many different kinds of them. What are the differences? If we are planning to get a 300K mortgage, and planning to stay in the house for at least 5 years. What mortgage might be good for us? 30yr fix 5/1 7/1 why there is 5/1 ARM?? What is the different between all these? thank u

How do I look up mortgage information in the public records office? I would like to go to the public records office and find specific mortgage information. For example, what type of mortgage someone has.

How do I find out the mortgage company of a condo in foreclosure? I live in a three unit condo. The second unit is vacant (the owners moved out 2 years ago) and the unit is in foreclosure. We (the condo association) needs to contact unit 2's mortgage company for back payment of unpaid condo fees. How do I find out their mortgage company?

Can you get a mortgage after ALMOST foreclosing on your home? I have a friend who got into some trouble paying his mortgage when his wife went on unpaid maternity leave. They got behind on their mortgage and ended up going into foreclosure on their house. They were able to scrape up the money they needed to pay it off, but they are still pretty strapped and 1 month behind on their mortgage. The question is, they want to sell their house to downsize to a less expensive home that is more affordable, but their credit is basically shot. If they sell their house and try to buy a less expensive one will they be able to get a mortgage with their history? Please be respectful, this is a genuine question that needs knowledgeable answers. So only reply if you have good advise. Thank you. sorry, one more thing. they would be putting about 20% down on the next house, would this help the percentage rate?

What can I do about a mortgage company checking my credit without my permission? Ok...I get a call from a lady saying my mortgage company assigned her my file and that she could get me a lower interest rate. Well great, I said to tell me what she could do. Never did I give her my or my husbands social security numbers or any info. Well, she checked our credit without my or his permission. I called my mortgage company and they said they never give my info to anyone....yet this lady says they did and that this is how she had my info. What should I do?

What is the difference between a mortgage APR and Interest Rate? My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer's, we were unaware of it. We only knew about the Interest Rate. Thanks for the help.

What is the difference between Collateralized Mortgage Obligations and other mortgage backed securities? How do CMO's differ from any other mortgage-backed bundles? I know fannie mae finances primarily by selling the latter, so what is the benefit in CMO's in comparison to them?

Are there any mortgage companies that work with a 585 score? I'm in the market for a house, but my score is kinda low, does anyone know of a mortgage company that can work with a 585 score? I know interest will be high but I'm ready to be a home owner. DTI is good.

How do you subordinate a second mortgage? I am trying to help my client refi his first mortgage, but in order to do that I have to subordinate his second mortgage. The lender that I'm trying to sub is Chase. Any help would be greatly appreciated.

Is it possible to get a mortgage for a house if I am unemployed? Let me be specific: I have 130,000$ cash, but am unemployed. I received this money as an inheritance. I intend to buy a house with several floors and tenants. Is a mortgage possible in my case? My intention is to at first keep payments going for the mortgage through the revenue generated by the tenants. This will give me the time to get a new job. Would a bank accept this case despite my being unemployed?

What precentage of mortgage interest is refunded in taxes So Far this year I have paid over fifteen thousand dollars in interest on my mortgage. Is there a certain percentage that is refunded when I do my taxes? Also, are closing costs refundable too?

Why is my mortgage company not paying my tax bill when I have escrow? My mortgage company (CITIMORTGAGE) is not paying my tax bill. The money is in escrow, the error has been spotted and documented in a case number by customer service. I paid the bill myself, because it is over six months late and I risked being put on the TAX SALE foreclosure list. Should I be worried that they are going out of business? Or is this a computer glitch?

I just took out my first mortgage on a home. How long do I have to wait before I can refi for a lower rate? With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year?

What is the difference between a mortgage and a home equity loan? I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I'm not interested in HELOC's.

What documents do I need to apply for mortgage restructure from my bank? I am in the process of preparing to take advantage of the $400B home owner rescue package that will be signed by President soon. I need to apply to my mortgage company for restructure of my mortgage to lower my payments. What documents do I need to prepare? I hear of a budget that needs to be prepared. What details must this budget include?

What does it take for a mortgage company to set a closing date on a home sell? My problem is that we have a contract on our house, the person who offered on the house has submitted all the necessary paperwork to their mortgage company, and has received her commitment letter back from them; however, a closing date has yet to be set. My realtor tells me that the ladys application is through with the underwriting, the commitment letter from the bank was received last week and we are just waiting on the mortgage company to get all of the numbers together and email that info to the title company. We have been waiting a week today, why can no one give us a closing day? How long should this take? We feel like something is wrong but no one will tell us? Any opinions?

Can our 2nd mortgage company attach our wages once our home is sold as a short sale? Our 2nd mortgage company is suing us for $25,000 (the balance on our 2nd after they signed off the lien for the short sale). They have submitted paperwork to attach 25% of our wages until it is paid off? Is their any legal way out of this?

What do you do when your mortgage broker lies to you about your refinance? Working with a mortgage company to refinace my home and the agent keeps telling me not to worry, we will close guarnateed. Now after a month and we still havent closed, we havent made a house payment in 2 months because he told us not to, and now the loan may not close because we are late with the mortgage payment. What do we do?

How hard is it to get a mortgage now? What kind of credit score do you need? I've heard that due to all of the foreclosures mortgage companies are getting tougher.

What is the lowest mortgage company out there? Please let me know overall with all the closing costs and interest rates, what is the lowest mortgage company out there. Has to be available to a Florida resident and it does not matter if the mortgage is online only.

How do I get a late mortgage payment off of my credit report? How do I get a late mortgage payment off of my credit report? I mean I'm totally current on my mortgage now. I want this off of my report. Thanks