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543 posts tagged with mortgage.
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How to think about housing/debt

Should I refinance my mortgage, cash out equity to pay off debt. [more inside]
posted by Classic Diner on Nov 6, 2014 - 16 answers

There's no place like home... We just need a loan!

The issue isn't us as borrowers... It's the house. The house is part of a coop/co-housing setting. We'd be buying the house, but the land it sits on would remain owned by the co-op. Mortgage? [more inside]
posted by jrobin276 on Nov 2, 2014 - 2 answers

Another Real Estate Question: Buy & Rent a Condo From Afar?

If I wanted to buy a house or condo in a distant state as an investment, and I had an opportunity to buy a place outright, with tenants and leases already in place, should I? How about outright but sans tenants? More info within. [more inside]
posted by toomuchkatherine on Oct 17, 2014 - 15 answers

Non-legal legal advice aka "should I pursue this..."

None of this is legal advice. Got it. I'm trying to determine whether legal advice is even worth pursuing. Our house was damaged by a water leakage incident which the homeowner's insurance agreed to fully cover to the tune of about 60K. We were not living in the house at the time, which was actually up for sale. More excitement below the fold! [more inside]
posted by thebordella on Oct 17, 2014 - 6 answers

Buying a home in the UK

My partner and I are looking into the possibility of buying a home in Edinburgh. We're originally from the U.S., and some of the differences have us mystified. Help us out? Specifics inside. [more inside]
posted by kyrademon on Sep 25, 2014 - 18 answers

Down payment assistance

I am saving up for the down payment on a co-op apartment here in NYC. I'll estimate the sum of said payment to be in the $30-$50K range, based on current co-op prices and a down payment requirement of 20%. [more inside]
posted by the hot hot side of randy on Sep 15, 2014 - 17 answers

helping some friends, slightly sketchy mortgage

Our friends want help to get a better mortgage rate, how risky for us? [more inside]
posted by anonymous on Sep 6, 2014 - 17 answers

How to walk away from a House (Minneapolis Edition)?

After watching our house not sell for 3 months (with one offer that would require us to bring 40k to the table!), we think it might be time for more creative solutions. Tell me about Strategic Defaults in Minnesota. [more inside]
posted by anonymous on Aug 23, 2014 - 9 answers

Walking away from a Canadian mortgage

I want to walk away from my home and mortgage because I purchased a tainted property. The fellow next door is a (locally) notorious ex-convict and sex offender. [more inside]
posted by anonymous on Aug 6, 2014 - 12 answers

For Richer, not Poorer: forcing Ex to refi or sell to pay money owed

Basically, he needs to pony up $23k a year ago and it doesn't look like he has any intention of doing so. [more inside]
posted by Mysterious Trousers on Aug 5, 2014 - 7 answers

Loan for renovation of NYC Co-Op Apartment ? (no HELOCs/mortgages)

Loan for renovation of NYC Co-Op Apartment? (no HELOCs/mortgages). [more inside]
posted by lalochezia on Aug 5, 2014 - 4 answers

Mortgage application complications: my mortgage, her investment account

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]
posted by brackish.line on Aug 5, 2014 - 14 answers

Should I use USAA for a mortgage?

Is going with USAA significantly better or worse than using a local mortgage broker who sells our mortgage to another bank? Will USAA allow us to close on time, if the closing is 5 weeks out? [more inside]
posted by treehorn+bunny on Jul 30, 2014 - 16 answers

Title: How to deal with a Mortgage but no House after Divorce

*What can be written into the Quit Claim to insure and protect the me from eventually being stuck with the whole mortgage. *Or is there some other standard thing besides a quitclaim that will allow me to fulfill the court's order and will give the wife more protection than just relying on "he shall hold Wife harmless from any liability " since the mortgage company can go after the wife directly. Intro: the Husband is a Military Officer who strategized and schemed not only to divorce but to devastate an unsuspecting wife (me). He abused me for 20 years and has lied to the court many times, without being held accountable. He can be counted on taking whatever actions he is able to continue to do the me harm. He will not voluntarily do the humane, decent thing. [more inside]
posted by lostinspace on Jul 1, 2014 - 15 answers

Mortgage dilemma: seems like there is no optimal solution?

This was me a few months ago: Rent or sell my condo at a loss? Well, now I've decided to sell it. But have a question about what to do about my mortgage. [more inside]
posted by myorangesocks on Jun 26, 2014 - 1 answer

UK leasehold purchase: the demise and our right to park.

(YNML) We're purchasing a leasehold property in the UK. The lease for this property says "The Demise hereinbefore contained includes the following rights:- ... and the exclusive use of the parking space numbered 1 shown hatched red on the plan ...". Our solicitor has been saying that 'as the right is exclusive this does not form a legal right under common law and as such may be denied by subsequent Landlords.' I don't understand why this is an issue, and as it's held up our move, I would like to understand. Although I've asked my solicitor, I suspect Mefites can give me a clearer answer! More details inside... [more inside]
posted by jonrob on Jun 17, 2014 - 2 answers

Can my parents make me a mortgage loan?

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]
posted by toomuchkatherine on Jun 5, 2014 - 12 answers

Ethical 30-year fixed co-op mortgage in NYC?

NYC MortgageFilter. We want an affordable 30 yr fixed 80% LTV co-op loan that underwrites quickly - but! With either ethical considerations or portfolio from a local lender. Need reccs. for lenders and especially loan officers please; or really savvy NYC mortgage brokers. [more inside]
posted by lalochezia on May 20, 2014 - 6 answers

Mortgage shenanigans?

We have an excessive interest rate on our home. We tried to refi, and the appraisal came in a good $40,000 less than it needed to in order to qualify. So some of our more numerically-talented friends ran some numbers for us in an attempt to find alternative solutions and found a weird discrepancy that makes it appear we owe $15,000 more on the loan than we do... [more inside]
posted by bitter-girl.com on May 13, 2014 - 13 answers

Mortgage underwriting question.

I am buying a house for the very first time (Virginia, US), and I have a question about the mortgage underwriting process. We have made it through the home inspection, and we are conditionally approved for the mortgage. We are currently waiting for the results of the mortgage appraisal and then, my loan officer tells me, that the mortgage will be resubmitted to the underwriter. I'm not sure exactly what this means. [more inside]
posted by 4ster on May 12, 2014 - 12 answers

How is mortgage interest to a private party treated under the AMT?

In the US tax code (specific to the AMT), is mortgage interest to a private party treated differently than mortgage interest to a bank? [more inside]
posted by true on Apr 19, 2014 - 2 answers

Longterm investing anxiety: Property or pension, or what?

Husband and I have $130k saved up. No mortgage, no pension to speak of. Just been called into the bank for talk about long term plans and am freaking out about what to do. Advice? Do I need to see a financial advisor or are they not a good idea? [more inside]
posted by everydayanewday on Apr 13, 2014 - 11 answers

Can't I just rent forever?

I rent a flat with my SO in London. We've finally saved enough to be in a position to buy a home but the insanity of the market is making me hesitate. What to do? [more inside]
posted by socksister on Mar 31, 2014 - 25 answers

Is it a bad idea to buy two houses at the same time?

My fiancé and I have been planning to buy a home this year. This will be the first home purchase for both of us. We currently live two hours apart, and I'm trying to move closer to him, which is where the house will be. However, there's a chance I'll be stuck where I am for another year due to job-hunting difficulties. I recently learned that the condo across the hall from me (where I rent at my current location) is up for a sale. I think it would make a great investment as a rental property down the line. Is it crazy to buy this condo as well as a house with my fiancé in the same year? [more inside]
posted by redlines on Mar 30, 2014 - 11 answers

Final pre-purchase car questions!

Continuing my car questions (1, 2, 3). We’re buying a gently used Forester. Two questions I need to resolve before picking up the car: should I finance any part of the purchase (can pay all cash), and should I pay to extend the bumper-to-bumper warranty to seven years? [more inside]
posted by Admiral Haddock on Mar 26, 2014 - 14 answers

What should I do with my house and mortgage?

I have never refinanced my house, but am weighing that vs. investing my money elsewhere. Please advise. [more inside]
posted by deern the headlice on Mar 22, 2014 - 12 answers

Paid off mortgage -- how would new house purchase financing work?

Me and my SO completely paid off our mortgage a couple years ago. So, we have full equity. That's great, we're happy w/the situation. Now, if for whatever reason we decide to uproot and move to an entirely new city and/or state, how would the financing work? [more inside]
posted by anonymous on Mar 9, 2014 - 8 answers

Any out of the box ideas for getting a lower mortgage rate?

I don't qualify for any of the recent government sponsored programs. I continue to drool over the low interest rates and want to know if there's something I'm not thinking of that I could take advantage of before rates start to crawl back up. [more inside]
posted by SquidLips on Feb 26, 2014 - 6 answers

2-year or 5-year fixed mortgage in the UK?

We've received conflicting advice from two mortgage advisers, and I'd like to get some more opinions. [more inside]
posted by alby on Feb 24, 2014 - 16 answers

All our eggs in one basket? First time home buyers...

My wife and I have been working and saving over the last 4-5 years. We've managed to pay off all of our debts and have gotten ahead. It feels great to be debt free, but we want to buy a house. We found a bank foreclosure that's been sitting vacant for 6 years as it slowly worked through the courts. We have just enough to buy it outright, but that will leave us almost broke. Should we buy it? [more inside]
posted by karst on Feb 21, 2014 - 28 answers

First home purchase a bit earlier than we planned for...

My husband and I agreed a few months ago that in about three years we would purchase a house. We're being pushed out of our apartment, and we're considering doing it a bit earlier than planned. Problem: down payment savings. We don't have much of one. I kind of feel like we're special snowflakes, so it's ok. Are we? [more inside]
posted by lup badik on Feb 8, 2014 - 16 answers

Goal: Buy a house. Obstacle: Credit Disaster

We want to buy a house but my credit is less than perfect. How bad is it? Well, you'll have to look inside. [more inside]
posted by anonymous on Jan 31, 2014 - 17 answers

Time to buy a house!

I have a newly good income, a very tiny (yes, I mean very tiny) beginning of a savings account, shitty credit, a little (in the hundreds) debt and I want to buy a house. What should I do? [more inside]
posted by latkes on Jan 13, 2014 - 10 answers

How do I find a Mortgage Broker?

I live in Vancouver and I'll be looking to buy a condo this year somewhere in Coquitlam or New Westminster. I've never bought a place before and have literally no idea what I'm doing. I'm told a Mortgage Broker is my best bet but how do I choose the right one for me? [more inside]
posted by JenThePro on Jan 2, 2014 - 6 answers

Buying a house in 2014. Maybe?

The only solution I can see that will allow me to live with all my pets (current and future) is to finally purchase my own home. However, I'm not entirely convinced this won't be a colossal mistake! On the other hand, if I'm not ready now I probably never will be, nor will I be able to achieve my "pet goals". Am I ready to be a homeowner? Is this really a good idea for me? Are there any other options? Obviously, there are some snowflakes. [more inside]
posted by cgg on Dec 30, 2013 - 24 answers

Who owns/services your mortgage and what're they like? Does it matter?

We're shopping for a mortgage (in the DC area), and are feeling anxious and frustrated that 1) it's so hard to know who we'll end up with because so many lenders/originators are likely to sell our loan and/or servicing after closing, and 2) it's easy to find complaints about most servicers out there and hard to find anyone that's satisfied.  What has your experience been like with the place(s) that own and/or service your mortgage?  Or should we put all that to the side and just try to find someone with the best rates/fees and the best reviews/recommendations regarding smooth and quick closing? [more inside]
posted by EmilyClimbs on Dec 20, 2013 - 21 answers

Can I afford to take out a mortgage?

I make about $46,000 in Seattle, WA. Monthly take-home pay, excluding overtime which automatically goes into a savings account, is $2,800. I have no debts and no significant non-optional recurring expenses. At some point in the next few months, I will have about $150,000 in cash after splitting the equity in a home that is being sold. Assuming that I can put that amount toward a down payment, can I afford a mortgage? Before I contact my lender, is it even wise for me to take one out? I've been looking at a few suitable homes in North Seattle priced at or below $275,000. [more inside]
posted by anonymous on Dec 18, 2013 - 15 answers

So how much do you want to pay?

We are shopping for a new home. We think we have found a home we want to put an offer on. The thing is, we have no clue how much the mortgage payments will be. We know the taxes and insurance, but there are so many online calculators giving us very different numbers for the monthly payment. [more inside]
posted by MayNicholas on Dec 10, 2013 - 21 answers

Can I buy my parents' house in a way that makes financial sense?

My parents have always struggled financially, living under crippling debt and never able to have an income able to match the bills, the biggest of which is their mortgage. I hate to see how difficult this situation is for my dad, and I want to help out for the sake of his stress level, and also because once he retires in a few years the math truly does not work out in their favor. I've been thinking of buying some land anyway, so I'm wondering if there is any feasible way to make this work for both my parents and me. [more inside]
posted by anonymous on Dec 8, 2013 - 20 answers

Should I walk away from this mortgage?

My ex-boyfriend and I own a home together that he is currently still living in. We're underwater on the mortgage and he doesn't make enough to cover the whole payment. I've been paying half of the mortgage since the breakup in order to buy time and figure out a plan. But I'm at the end of my rope both emotionally and financially, and I'm wondering if there are any options left or if I should just stop paying. [more inside]
posted by fanta_orange on Nov 26, 2013 - 31 answers

How do I swap houses with my mother?

My mother has suddenly got into a position where she cannot afford to keep up payments on her mortgage since retiring. The amount left she has to pay is £14,000. I have a mortgage of £72,000 left to pay on my own house. How do I go about tacking the £14,000 onto my own mortgage and swapping houses so she lives in my place mortgage free and I have her house with an increased mortgage? (Bonus points for a super easy fix for all this!)
posted by aqueousdan on Nov 17, 2013 - 12 answers

Appraising a property to split equity

I currently jointly own a property in the US, that both parties agree I should take sole possession of. I would like to get a realistic appraisal value, in order to buy out the other person. Is there anything particular that I should discuss with a potential appraiser when I contact them? Thanks! [more inside]
posted by carter on Nov 14, 2013 - 6 answers

Can we negotiate on Mortgage Modification?

Good news: after months of fun, our mortgage provider has presented a mortgage modification trial agreement. Bad news: the payments are just $150 less than they are on the original mortgage. Can we negotiate with them? Do we run the risk of losing even this concession? [more inside]
posted by Kalatraz on Oct 18, 2013 - 7 answers

Questions regarding PMI...

I'm investigating reappraising our house to get rid of PMI. We meet the conditions for application, which involve bringing in an appraiser. The appraiser we would pay for is hired through the mortgage company — we have no control over the appraisal process. Do appraisers who are hired to get rid of PMI do a fair and honest job in calculating the true market value, or, alternatively, do their valuations fall close to online appraisals on average, within some percentage? (Are online estimates close to market value, within noise? Two online estimates suggest we are over the required valuation by roughly 40-50k.) Finally, are there downsides or gotchas to getting rid of PMI, other than a smaller federal deduction at tax time? [more inside]
posted by Blazecock Pileon on Oct 8, 2013 - 9 answers

Should I buy this house, or not?

I'm looking at buying a house on the bayou, but am unsure whether the flood and flood insurance issues mean I should offer less, or just run. [more inside]
posted by atchafalaya on Oct 8, 2013 - 12 answers

Principal and Interest versus Interest only.

Please confirm or otherwise guide me about the distinction between a principal and interest versus an interest only home loan, in the important context of 100% offset. [more inside]
posted by wilful on Oct 2, 2013 - 7 answers

Fee-based financial planner in NYC for non-ultrawealthy?

Financial advisor-filter : Can anyone recommend a fee-based financial planner in NYC? Or are there sites/review sites that don't have shills on them? For DINK couple looking to save for apartment purchase and make general financial plans for the future. [more inside]
posted by anonymous on Sep 26, 2013 - 2 answers

Mortgage advice for a young couple in Houston

I married my wife this spring, and we're ready to get out of an apartment and into a house or townhouse. We're going to talk to some mortgage broker she found online today, and I'm not really sure what I'm supposed to do. I've printed out all the forms they've asked for, but I have no clue what questions I should be asking. Our communications with the guy we're seeing have been great and he seems helpful, but I'd love to hear your mortgage advice/stories. Also, if any Houstonians have specific recommendations I'd love to hear them as well. [more inside]
posted by DynamiteToast on Aug 22, 2013 - 14 answers

My mortgage was sold, now it's lost. What do I do?

Our mortgage was sold a few months ago. We were assured nothing would change. This month, no mortgage statement. I went to the mortgage co. website. It says, "This mortgage is closed." No, it's not. I called the 800 number. That got me nowhere. I can't mail the payment to the old address - it won't be received or processed. The website does not recognize our account number. The people on the phone don't know what they're talking about. What do I do? [more inside]
posted by clarkstonian on Aug 20, 2013 - 18 answers

Should I risk losing an ARM?

Should we consider an ARM in the current mortgage market? [more inside]
posted by IzzeYum on Aug 7, 2013 - 18 answers

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