Mortgage, refinance, Countrywide loan, VA: Need simple answers?
Where is a site that is simplified in answers in relation to mortgages, loan companies, interest & everything else.
Every time Hubby gets a letter offering to refinance us
& lower our monthly payments,
& skip a mortgage pay-out, plus return our escrow
I smell a fish & Hubby sees a great! opportunity to save a few bucks so,...
Where is a site, beside simple explanations, that can answer any questions about mortgages.
(For example: Just how powerfully is Countrywide doing? Do we want to get away from them? Are they about to deal in our note to a Mexican bank & we'll start have to pay in Pesos?)
So do you know of a site that can answer mortgage question in an easy to read way?
Thank you,
Harry Gams
Answers:
There are several sites that proffer mortgage information but you have to google them. You could borrow a "Real Estate Dictionary" from any local realty agent. A nice agent will be happy to loan it to you. It have all the explanations.
Every refinance costs you $3,000. That is why the banks are so in good spirits to offer them to you. If your payments are acceptable, don't refinance. If rates dance down to 4.5%, fill out an application.
Countrywide is not doing well. Overwhelmed next to repo's and just purchased by Bank of America.
Usually those letters that you receive nearly refinancing only qualify for people next to certain qualifications. They are sent out within mass to everyone who has a loan so it doesn't mean that everyone will be capable of qualify for them. If you have a fixed rate mortgage, I wouldn't worry more or less refinancing now.
I would not worry more or less Countrywide going out of business (I have a mortgage with them too). Most probable your loan has already been sold to someone else and you are a moment ago paying countrywide who pays the other party. If your mortgage is taken over by someone else, they will need to notify you.
Below are two cooperation from a mortgage refinancing site for your reference which can answer your question relateecstaticortgage refinance:
http://www.iloanshop.com/mortgage_refinance_questions.php
http://www.iloanshop.com/mortgage_refinance_faqs.php
You can always purchase a copy of McGraw-Hills, (Interest Amortization Tables). It be only a couple of dollars when I purchased it a couple years ago. It is available at most book stores. You can quickly digit going from monthly to biweekly payments,Adj-rate loans,remaining loan balances, Daily Interest Rate Factors, Also what if's. Example: If my ARM can rise up to 3%, what payment keep the same payoff schedule.. Perfect for figure fixed amounts, say 175k at 6.5% over 25 years. Check one out at your local bookstore your husband will love it, and you will be at ease for it. Source(s): property owner and investor
Unless you plan to stay in your home at most minuscule another few years, you do not have a pre-payment penalty on your current mortgage and are going to see a 1% fade in your interest rate, DO NOT refinance.
Every refinance costs you money, not a few bucks, thousands.
Tell hubby to throw those offers away. Unless you hold a high interest rate, you do not need to refinance. If you own a high interest rate, have superior your financial situation, and are tempted by the very recent mortgage interest rate reduction, talk to a local lender. Source(s): Oregon Realtor
Just to say, it is not worth it. Some of those folks are better scalpers than some of my ancestors,
Most of those refinance offers are scam and you pay dearly for them.
Related Questions:
For Mortgage and Loan professionals: Loan Questions?
Alright, I make 65,000 a year. I found the house I want to get at 149,000. Needs no work. I'm prequalified up to 200,000. Now, the problem is, I'm 20 years infirm and don't have established credit. I only own one credit card and I've only been...
Every time Hubby gets a letter offering to refinance us
& lower our monthly payments,
& skip a mortgage pay-out, plus return our escrow
I smell a fish & Hubby sees a great! opportunity to save a few bucks so,...
Where is a site, beside simple explanations, that can answer any questions about mortgages.
(For example: Just how powerfully is Countrywide doing? Do we want to get away from them? Are they about to deal in our note to a Mexican bank & we'll start have to pay in Pesos?)
So do you know of a site that can answer mortgage question in an easy to read way?
Thank you,
Harry Gams
Answers:
There are several sites that proffer mortgage information but you have to google them. You could borrow a "Real Estate Dictionary" from any local realty agent. A nice agent will be happy to loan it to you. It have all the explanations.
Every refinance costs you $3,000. That is why the banks are so in good spirits to offer them to you. If your payments are acceptable, don't refinance. If rates dance down to 4.5%, fill out an application.
Countrywide is not doing well. Overwhelmed next to repo's and just purchased by Bank of America.
Usually those letters that you receive nearly refinancing only qualify for people next to certain qualifications. They are sent out within mass to everyone who has a loan so it doesn't mean that everyone will be capable of qualify for them. If you have a fixed rate mortgage, I wouldn't worry more or less refinancing now.
I would not worry more or less Countrywide going out of business (I have a mortgage with them too). Most probable your loan has already been sold to someone else and you are a moment ago paying countrywide who pays the other party. If your mortgage is taken over by someone else, they will need to notify you.
Below are two cooperation from a mortgage refinancing site for your reference which can answer your question relateecstaticortgage refinance:
http://www.iloanshop.com/mortgage_refinance_questions.php
http://www.iloanshop.com/mortgage_refinance_faqs.php
You can always purchase a copy of McGraw-Hills, (Interest Amortization Tables). It be only a couple of dollars when I purchased it a couple years ago. It is available at most book stores. You can quickly digit going from monthly to biweekly payments,Adj-rate loans,remaining loan balances, Daily Interest Rate Factors, Also what if's. Example: If my ARM can rise up to 3%, what payment keep the same payoff schedule.. Perfect for figure fixed amounts, say 175k at 6.5% over 25 years. Check one out at your local bookstore your husband will love it, and you will be at ease for it. Source(s): property owner and investor
Unless you plan to stay in your home at most minuscule another few years, you do not have a pre-payment penalty on your current mortgage and are going to see a 1% fade in your interest rate, DO NOT refinance.
Every refinance costs you money, not a few bucks, thousands.
Tell hubby to throw those offers away. Unless you hold a high interest rate, you do not need to refinance. If you own a high interest rate, have superior your financial situation, and are tempted by the very recent mortgage interest rate reduction, talk to a local lender. Source(s): Oregon Realtor
Just to say, it is not worth it. Some of those folks are better scalpers than some of my ancestors,
Most of those refinance offers are scam and you pay dearly for them.
Related Questions:
For Mortgage and Loan professionals: Loan Questions?
Alright, I make 65,000 a year. I found the house I want to get at 149,000. Needs no work. I'm prequalified up to 200,000. Now, the problem is, I'm 20 years infirm and don't have established credit. I only own one credit card and I've only been...