First time home buyer. Totally confused and stressed out! I was pre-approved for a loan that includes a CalHFA down payment assistance loan. (I'm in California, natch, Alameda County). We went into contract last week and now my mortgage broker is asking me to collect a bunch of paperwork and she told me I need to do an educational class for my CalHFA loan. So I start researching these loans a little more closely, and I think I'm over the income limit. Now... What? [more inside]
I am thinking about buying a house. I have a great salary but essentially have no money to use as a down payment because I have been focusing on paying off student loans from grad school. Am I eligible for a loan when I could only put down maybe 5% of the purchase price? Again, with my salary i can support a fairly big loan I just do not want to wait the year or so it would take to save the down payment. Any thoughts or advice would be greatly appreciated!
I am attempting to figure out what it will take to drop the PMI from my mortgage payment and, wow, the internet is really leading me on all sorts of wild goose chases in attempting to figure out what the actual criteria are. Loan details within. [more inside]
I'm very close to closing on my first home. I went with Chase when I shopped around as I like the service the banker provided. Today the banker told me the I don't qualify for a conventional loan and only for some kind of in-house loan where Chase is solely responsible for the risk. This increases my closing costs anywhere from $3000-5000. Is this normal and is there anything I can do about it? [more inside]
Can anyone point me to any information (template, etc) on a term sheet for a single round of investment in a company that has no plans to go public? [more inside]
Due to a series of unfortunate events I'm now homeless and lost all my savings. Looking for overall advice how to rent a room in NYC and survive. [more inside]
I’m 24 (but I feel like I am 65) years old and I live with my 56 (but emotionally 16) year old mother. We’re facing financial ruin over something that seems insignificant. [more inside]
My credit is in the toilet. I want to take out a personal loan so that I do not need to work full time while I go to school full time. Is this even possible? [more inside]
From what I know, the trust says no, but do I have any recourse if I want to use the money for an important life event? How about an interest free loan? I have no idea who to even ask. A few snowflakes after the jump... [more inside]
I bought a computer through Best Buy using their deferred payment plan (i.e. no interest if balance paid in full before one year). I should have been able to pay it with some easy monthly payments, but a perfect storm of events basically means that I'll need a few extra months to do so. Is there a good place I can go to get a loan for this kind of situation? If not, what are my options? My credit score is ~650.
I pissed off/offended one of my oldest friends recently and I'm at a loss as to how I should proceed. I asked her for a favor I've never really asked of any of my friends before: if she had the means to loan me around $200, though I made it clear that a lesser amount would help just as much right now. I told her I'd be able to repay it in approximately six weeks. She didn't take any of this well. [more inside]
I have a troubled half brother who has recently come into my life. He was just released from prison, there on possession charges. He lives across the country, is jobless, homeless, and without family (aside from my mother and me). Yesterday he asked if I could wire him money. Just enough to buy some food. I can easily do this, so without thinking, I said I would. [more inside]
I would like to know what happens when a lender finds a recent change in leadership during due diligence for a loan, such as a business loan or a real estate loan to an organization. [more inside]
I currently pay one full week's pay each month, $600, toward my current student loan balance of $97,000+. Though I usually just pay it and try to move on, I know it will follow me to my death and if I can't be rid of it I hope some of you can provide some kind of advice or coping strategies. I have read through a fair number of related questions. [more inside]
I'm separated and my wife has the house and has to pay all expenses on the house including loan payments. I went through getting the loan adjusted once, which helped for a while, but now she's behind again. She isn't doing anything herself and hasn't asked for help, but my kids live there too, when they are not with me, But I'm having trouble getting motivated to help out this time. So I'm looking for someone who can deal with the banks to get a refinance. [more inside]
I'm trying to decide between leasing or buying a car. It would be anywhere from 50-100% business use. Does this make a difference? [more inside]
Loan for renovation of NYC Co-Op Apartment? (no HELOCs/mortgages). [more inside]
My partner and I are applying for a mortgage. Our credit union will only approve me for the mortgage, though, since my partner has no recent credit history. We're fine with just putting me on the mortgage, but there's a hitch: we are planning to use part of an investment account for the down-payment, and that account is only in my partner's name. We share (JTWROS) another investment account with the same firm. If we add my name to her account now, will we raise red flags? Is there a better approach we're not thinking of? [more inside]
I quit law school (a very prestigious, top five school) four years ago and have been working in education ever since (first as an aide for Autistic children, then as a substitute teacher for two years). In this time, my student loans have been accruing interest and keeping me up at night. I can qualify for loan forgiveness programs as long as I work for a non-profit or a school. Unfortunately, the work I was doing for the past four years did not count because I worked for private companies that contracted out to schools. For many reasons,(see below) I would now like to break into grant writing. I have written three successful grant proposals in my career (one for an educational outreach program in college, one for a Fulbright Grant, and one for an international NGO). I am currently strengthening my grant writing skills by taking webinars and utilizing other free online resources. How can I present myself as a viable candidate for these grant writing jobs? And how do I explain the many changes of direction on my resume and the long winding road I took to get here? [more inside]
Trying to buy a house. Have money for a down payment, but I'm self-employed and was turned down for a traditional loan. My parents are willing to lend me the money I'd need for the balance, and have me pay them back with interest, á la a mortgage loan. Is this doable? [more inside]
Looking for more options than just dealership financing [more inside]
Going back to school in September after working for ~ 2 years. I've saved up a bit and I'm wondering how to make the best use of it. [more inside]
How will my joint mortgage affect my debt-to-income ratio when I apply for a new car loan WITHOUT a co-signer? (Snowflake details inside.) [more inside]
So, I'm selling my house and will have some extra cash, finally. I have a consolidated student loan that after years of steady payments, has come down to a very low 1.85% interest rate. Given the current economic conditions, and an intense desire to have my money work hard for me after years of being in the doldrums, should I up the payment and try to save a tiny bit on interest? Or would it be better to stuff my IRA, or put money into a no-load fund or index? [more inside]
I have somewhere around $60,000.00 of student loan debt. Its all one loan consolidated with the US government but managed by a private company called Ed Financial. I would like to try negotiating a pay off for less than what is due. Details and further questions inside. [more inside]
I have always paid for my school out of pocket. I need to pay for about $3,000 in school fees so I can try and finish my BA. I did the FAFSA, but my school has me on financial aid cancellation because I haven’t made ‘significant progress’ and completed my degree in the time allotted. How do I find a good, reasonable loan so I can get to the finish line and not have much debt? [more inside]
How long should I wait before refinancing my car? [more inside]
My credit is good. My loan on my new-last-year Toyota Yaris is awful; the interest rate is absurdly high. My credit union, who issued the loan, doesn't want to help. How do I find the best rate I can get on a refinance? [more inside]
I just found out about SOFI, a company/ service that will let you consolidate your student loans - they solicit other alumni to lend. I am not interested in consolidating my federal loans (want that federal guarantee / public service forgiveness option) but I have two companies now servicing my private loans and think this could be a good option for me. [more inside]
Several years ago, I went through a foreclosure, but now I'm 100% debt-free and making great money. Who offers auto loans to someone with a credit score in the low 600s?
Funding for our wedding was initially going to be split between family and myself/my partner. It's a month before the major bill is due, and the "family" part dropped out, leaving us holding the bag. We, as it stands, will not be able to make this payment, potentially canceling our wedding that people have already bought plane tickets for. Help us either fix this, or deal with the emotional fallout both in our relationship and outside it. [more inside]
My girlfriend is continually being called by a collection agency, NCO Financial, on a student loan that we don't think they actually have the rights to collect on. How can we get them to stop attempting to do so? [more inside]
I am going to get a payday loan in the amount of around $1000. (I know, with complete certainty, that I will be able to pay back the loan and interest within ten days.) Can anyone offer advice on this process, particularly online payday loans? Are there more reputable sources that I should work with? What should I watch out for? [more inside]
Does it make any sense to finance a car if you have the means to buy it outright with cash? [more inside]
When is it too late to increase the amount of a consolidation loan request? [more inside]
Are there any lenders in the US that fund small businesses in Asia? [more inside]
We are about to apply for a home equity line of credit. The guy at the bank already ran our credit and verified rates and eligibility. I'm also about to change jobs. What should I do about the loan? [more inside]
Is it possible to write a loan contract which effectively secures the debt against the borrower's property only in the event of bankruptcy or death of the borrower? I.e., as long as the borrower is in control of his financial affairs the lender has no right to the secured assets even if the borrower defaults, but if the borrower dies or goes bankrupt the security kicks in, so that the debt has priority for any third-party trustees managing the estate? [more inside]
I am paying back student loan debt that I no longer can because I'm back in full-time education and am not making nearly enough ££. [more inside]
At the car dealership today, they ran my Equifax credit rating and I have an 815, they then offered me a Zero-to-Sixty simple-interest loan for USD$9000 with a rate of 5.04%. Should I refinance with another company? [more inside]
How do I go about getting a car to go to work? [more inside]
In a nutshell; how much does the USA owe for "debt incurred in past wars", are there easy to understand figures for which wars specifically, and who does it owe it to? [more inside]
I am a "mature" student, studying at a university part time while working full time. I just learned that I qualify for a Stafford loan of about $7400. I don't need the loan to pay for classes because of my work income, but it occurred to me that I could take the loan, use it to pay off credit card debt I carry at a rate of interest more than 5 points higher than the Stafford loan rate, and then pay the Stafford loan off early. Essentially, debt consolidation using this federal loan. My questions: is this kosher? Is it wise? What I might not be thinknig about.
I'm having a really hard time finding a reputable mortgage broker. The property is in Boston, MA, but I'm willing to work with someone in another state. The most important thing is that they're not slimy or condescending. Can you recommend someone in my area? Anyone to avoid?
How is PMI on a loan calculated? [more inside]
Unusual combination of pending unemployment, upcoming (home equity and car) loan needs and a long boat ride requires the mefi thinktank for logistical scenarios and a bit of education about said loans. We are looking for the smartest approach to the coming year and could use more brains in the mix. [more inside]
My generous, trusting mother was conned out of tens of thousands of dollars (gradually) by a good-for-nothing young cousin over the course of a few years. When my mother ran into financial trouble last year, she sought repayment of these "loans." The cousin insisted that she didn't have to pay back a cent and promptly disappeared. She reappeared last week with a very large check, written directly to my mother's bank, and written by some random guy. I'm worried that the cousin has simply conned somebody else ("please, my home is being foreclosed on, I really need this loan, you can even write it directly to the bank") to cover part of her debt. She isn't talking, and my trusting mother is angry that I'd suggest such a thing. (So a lawyer is out of the question.) Is my mother potentially complicit in fraud by depositing this check?
I realize that YANML but I find myself in a dilemma and I'm not sure how to proceed. [more inside]
Should I trade my rebuilt title vehicle for any other vehicle, just to get an increased trade in value? [more inside]
My girlfriend and I are trying to get a home loan together. She has good credit, mine is apparently less than good (we were already denied by one lender). Is it possible to apply for loans using only her name, but still include the income I would contribute? Is this a terrible idea?