see a house that was close to putting an offer, but has reservations about the amount of work needed for the location and the fact that there were so many things in the house that the owner needed an extra week clear the way (no, I’m not kidding) from the entrance to each room of [...]
I currently have 4 mortgages. Does anyone know how many more mortgages I can carry? Any specific lenders or mortgages folks who have experience with this? by inspecie.co.uk 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 [...]
Hello Everyone, I wanted to ask two questions.. When the bank is determining how much a buyer can borrow, are they totaling up the buyer’s monthly gross income or the buyer’s monthly net income? Secondly what percentage of the income is used to determine what the buyer’s can afford ? Is it 42% or 45% of the [...]
I know many are in my situation. Ours is pretty bad, though: bought in Jan 06 for 320K and similar models nearby get just under 200K right now. We owe 240K in a first trust and 22K in a HELOC. So we have no equity, as far as I understand. I’m not drawn to [...]
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If you are a beginner like me with Excel, use this formula to calculate the monthly payment. = PMT (Rate/12, 30 * 12, the loan amount, 0) and see its wonders for any fixed or ARM loan. Send your suggestions to like this. style = “float: left; margin: 5px; font-size: 80%”>
I was just pre-approved for a VA Loan through BofA. They wanted Military ID, ID, Bank Statements, D-214, 2 years W2s, and Paycheck stubs. Do they need tax returns for the last few years? I have filed, but owe every year and am on a payment plan paid every month to the IRS. will this [...]
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A great blog that examines the theory of "loss aversion". If you are a home owner, and don’t want to sell because you fear we are in a falling market, this doesn’t neceassarily mean you shouldn’t sell. Apparently, fear can make us over-estimate our losses. This is very likely one cause for the lack of [...]