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Home Refinance Book Homepage
Reliable Home Refinance information
Refinancing my home mortgage?
what are the things i must know before considering to refinance my mortgage, my interest rate is 4 % now and i dont owe to much.well i owe 118,000 and i have a line of credit of 81,000 i would like to re do my kitchen and i would like to start my own business again, i was thinking since i owe so little and the value of my home is over 550,000 maybe if i refinance i can get more than 80,000..
Second home mortgage vs. investment property mortgage?
We are considering buying a second vacation home. A cabin in the mountains, about 150 miles from where we live. It's much cheaper to get a second home mortgage than an investment property mortgage, but we would ideally like to get some rental income from the property as well. It probably wouldn't be a lot, definitely not enough to pay the mortgage. I've gotten a lot of hemming and hawing from the mortgage specialists I've spoken with about whether we'd qualify for a second home mortgage. Is there a specific line lenders use to separate a second home from an investment property? Any rental income at all? Or is there a threshold amount, or a threshold number of days, or percentage of owner occupancy? We're going to be 100 % honest with the lender, but we'd like to know in advance if we need to commit ourselves to a certain limitation on rental use. Thanks I appreciate the answers, but they don't quite get to the heart of my question, so let me rephrase it. The home would primarily be for our personal vacation use. But since we care about not committing mortgage fraud and want to be sure we're on the right side of the law we need to know if ANY amount of rental income is too much for that type of loan.What we have in mind is letting people rent it on weekends we're not using it. It would never be occupied by a tenant for more than a few days at a time. No long term lease. It's in a ski area and I imagine we could find renters for some of the weekends we don't use it during the winter months.We would probably stay there several whole weeks during the year, and numerous more weekends, and would probably be the ones to occupy the cabin more than 50 % of the time it's occupied.Would that situation qualify for a second home mortgage? Or would any rental income at all mean we'd need an investment mortgage?
Reverse home mortgage age requirements !?
Myself and my husband are thinking of applying for a reversed home mortgage but I read that the home owner has to be 62 years of age or older.My husband is over 62 but I won't be 60 until this fall. Does anyone know if the age of 62 years to be considered for a reverse home mortgage is only for one person or if the person's spouse also has to be 62 or over? I can't find this out online and am hoping that maybe someone who has this loan can tell me. Thanks
Should I make biweekly payments on a 15 yr 4.25% home mortgage or make extra payments at the end of the month?
Should I shop for lenders for a home mortgage?
From what I understand multiple inquiries from lenders to credit agencies can damage credit. Is this true? Should I check with another bank if the first offer I received wasn't satisfactory. Or will they likely all be the same?
What happens if I skip two monthly payments on two home mortgages to pay credit card debt?
What is HARP home mortgage thru Wells Fargo -- i would like information on what it is ---it is about refina?
I received a letter from my home mortgage bank to refinance my home mortgage and it will called HARP Three Step Express and i was wondering what that is
Do you know where can i find a good company that offer loan modification for my home mortgage?
I want some info on the easiest way to get a home mortgage loan. Any idea please?
The bank tells you that the nominal interest rate on you home mortgage is going to be 4.29% per year.?
What is the effective rate they are charging you?
What happens to your home mortgage when you die?
Is it possible for a home mortgage to dissolved upon the home owner or borrowers death? I figured the estate or family is responsible but what if the home has no next of kin or goes to the state or something. Question has come up a few times in conversation. Called a big bank and they don't know how to answer this question. Does this have anything to do with recourse and or non recourse?
Where in the US Master's Tax Guide/IRC does it discuss deducting home mortgage interest and property taxes?
Are there any max incomes that do not allow you to deduct these? I've searched the CCH database and have not had much luck.Also, is it important to note Sec. 163 h 3 E Which talks about mortgage insurance premiums to a client that makes over 250,000 a year? Thanks for the help
I know of someone who lied on their home mortgage application, who could I report this too?
I know of someone who lied on their mortgage application in Ferndale Michigan. They used fake pay stubs, and a fake letter from an employer. They are now in danger of foreclosure. Who could I report this too? The local police were of no help.
Should I refinance my Home Mortgage Loan now?
I don't know if I should refinance my home mortgage loan now since the interest rate is fairly low 4.63 % . My interest rate now is 6.31 % Do you think it will get any lower as of now? The National Average Mortgage Rates seems to be fluctuating a bit but slowly dropping. Anyways just want to refinance before the rates go up.Website used if it's any good.....mortgagenewsdaily.com mortgage rates
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