Mortgage Insurance » current

Would you support a public option proposal instead of the current health insurance reform proposal?

Tue, 01 Jun 2010 04:37:54 +0000

Is there a definite point at which the current economic direction must collapse?

Tue, 01 Jun 2010 04:32:59 +0000

Right now this country faces a split between the reality of a new economic path representing lower consumer borrowing and consumption and a fantasy path representing “how things used to be.” Many of the first mortgages nationwide are underwater and unemployment continues to rise. In spite of this, the government is deficit spending and between them and the Federal Reserve an illusion of “everything is ok” is being maintained. While this is succeeding right now, is there a point at which it must collapse, or can we continue to ignore the fact that the emperor has no clothes and stave off a collapse by collectively denying reality?
Actually, I am not. I thought it should have happened long ago, but as long as we don’t see inflation and rises in interest rates, in spite of the trillions being printed by the Fed, it appears that we can keep on doing this. I am trying to figure out if there is some point beyond which we cannot just keep doing more of the same.

Is it more work to refinance with another mortgage company than refinancing with your current lender?

Fri, 14 May 2010 17:52:35 +0000

Three months ago my wife and I bought our first house at a 5.5% rate. The mortgage broker who was a family friend moved on to another company. My boss’s husband owns a separate company and can do us a refi at 5.125% which would save us pretty good money. It seems complicated though like our original closing! Would I save time or money by trying to refi through Bank of America (our current lender)? Any suggestions are helpful, thanks!

Do you think locking all current mortgage interest rates to 5% would fix the mortgage problems for most people?

Wed, 12 May 2010 04:39:12 +0000

if you do not think so check a site like
http://free-mortgage-calculator.info to see how much different your payment would be if you have a mortgage at 5% instead of 8%

if you think this is a good idea then write your senator. You can find there contact info here http://www.senate.gov/general/contact_information/senators_cfm.cfm

Has ANYONE thought about this ONE item, about the current health insurance bill?

Wed, 05 May 2010 04:36:31 +0000

Like if it’s the ‘hot ticket’ for the population of the United states, will the house of representatives & the executive branch be required to purchase said insurance also, or be fined & go to jail??? I mean what’s good for the goose is good for the gander! right?

How does the current financial crisis affect private student loans?

Sun, 02 May 2010 17:53:34 +0000

With everything that is going on right now in the economy, with the financial bailout being turned down, etc. How is all of that affecting the private student loans? I have a loan through SallieMae.

What makes you think you will keep your current health insurance WITHOUT the reform bill?

Sat, 01 May 2010 04:37:02 +0000

Republicans keep saying that the health care bill will take away the health insurance they are happy with. But I’ve had coverage through my employers and I’ve still had to change health insurance plans 7 times in the past 8 years! This was due to a combination of changing jobs or having my employer change to a less expensive (to them) plan.

Why do Republicans act like we have a stable system now?

Who is responsible for current financial Crisis?

Fri, 30 Apr 2010 17:46:53 +0000

Frankin Raines? The Clinton budget director appointed as CEO of Fannie Mae who changed Fannie Mae from a boring business of — issuing debt to buy mortgages from lenders — into a far more risky one?

Timothy Howard? Former Fannie Mae CFO who overstated the company’s earnings by $10.6 billion from 1998 to 2004?

Barney Frank? House Financial Services Committee chairman has long been a proponent of both Fannie and Freddie, assuring the public that their mission to encourage home ownership outweighed the distortive risks they brought to the market?

Angelo Mozilo? Few, if any, extracted more personal profit from the credit bubble than the CEO and founder of Countrywide Financial. Mozilo’s talking points always borrowed heavily from the propaganda of the changed Fannie & Freddie, pretending that it was performing some kind of public service — “breaking down barriers” — by making homes more “affordable” to the sub average wage earner.

Alan Greenspan? who many blame for the housing bubble, and supposed to be providing the country with a financial voice of reason, who fell so far short, that it might be comical if it weren’t so tragic?

John McCain?, who saw the problems with Fannie and Freddie and and sponsored a bill that could have regulated them in 2005, but was politically unable to get it out of the demotratic controlled Senate Finance committee?

Dodd, Obama, and the other Senators who took huge sums of money from Fannie and Freddie? who vigorously defended them even after their accounting scandals in 2004?

The financial institutions? who purchased these incredibly complex financial products from Fannie and Freddie with out fully understanding the risks?

The people that that bought houses they clearly couldn’t afford? The ones who didn’t bother to take 3 minutes with a $3 calculator?

To be sure, there were many more complicit in this mess. Who do you blame?

I’m severely underwater with current mortgage – Will this affect my chances of obtaining a loan for a new home?

Fri, 30 Apr 2010 04:33:26 +0000

I have a duplex. I rent one side and live in the other. I tried refinancing a month ago to take advantage of the low rates and got the “we can’t help you because your appraisal came in at 43% lower” than the value I gave them for the application. The appraisal came in at $207,000 and I gave them $360,000 (because it was appraised for that much 2 years ago). The appraisal was severely affected by other “like” homes in town that have foreclosed.

Now, we’re not in financial trouble – we pay our mortgage every month and have very little debt. Here are the facts:

Our combined income is about 140K annually.
Current mortgage: $2150 (rent covers $1100 of this amount)
Current balance on loan $271,000

Loan rejected!!! Okay… fine.

This really made me angry/sad/depressed. I thought this would put a damper on to our plans as I had originally intended to refinance from a 30 year to a 15 year in an effort to build equity faster. We also had planned on putting our side of the duplex for rent and purchasing another home (in a better neighborhood) to live and raise our kids in. The plan was to keep this duplex and rent it out for the length of the mortgage and hopefully sell it at the end of the 15 year loan and put the profit towards our children’s college education.

My question is: How am I affected by this loan rejection? If I wanted to purchase another home for ourselves – Will the lenders look at my current property’s loan/value ratio and say no to a new mortgage? I asked the lender that rejected our loan the same question and he said that the two property will have nothing to do with each other and that it would not affect us at all. I find it hard to beleive since they rejected my refinance attempt because of my current loan/value ratio. Why wouldn’t they look at my current property’s ratio when determining whether to give me another loan?

Given my situation…Would I have any trouble obtaining a loan for the purchase of a new home while maintaining my current?

Thanks in advance for your expert advice!

if i research insurance quotes will my current provider be informed?

Wed, 21 Apr 2010 04:42:47 +0000

I have two speeding tickets on my record that i would rather not have flagged for my insurance company, as they have not audited me yet for it…. but i want to look up quotes on motorcycle insurance! will my insurance provider be notified if i start looking for motorcycle insurance on otherwebsites like gieko and progressive? im just looking for ballpark estimates…. not looking for a set rate