Archive for the ‘Help with mortgage’ Category
Help With Mortgage
Times are tough, and banks know that better than we do. (The reason why FOURTY big banks went under between 2008 and 2009!)
All those banks hitting rock bottom started a chain of events that hasn't fully played out yet, but no doubt is in some small part responsible for you reading this page right now.
Asking for help with your Mortgage may be hard, but is always a smart move. Thousands of people every year don't ask for help, living in a state of denial that only catches up with them when the sheriff comes to evict them.
But what kinds of help is available to you? The possibilities are limitless, depending on many factors, such as the condition of your bank, the amount of equity you have built up, the local laws, the local charities, your insurance, the money you have on hand, your credit record, your willingness to relocate, and many other factors. It can be extremely confusing to know who to ask for help, and of course what kind of help you need.
Since you're here right now, we're working hard on making this page useful to you. It will list the latest news and editorials about getting help with mortgages, and anything else we think will lead you in the right direction. In short, if you're reading this, you'd be smart to read everything below on this page.
Mortgage Help Homeowners
March 26th, 2009
Mortgage Help Homeowners
Question: What is difference between Mortgage Insurance and Homeowners Insurance?
Thanks.
So are you saying that with the mortgage insurance...if I die...my house is paid for. My wife can live in it and not pay mortgage?
Answer: Mortgage life insurance is limited life insurance that pays off the loan balance if you die.
Private mortgage insurance (PMI) or FHA mortgage insurance protects the lender if the borrower defaults on the loan.
Homeowner insurance consists of liability and property protection.
Totally different things. Which kind are you talking about?
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Posted in Help with mortgage | 
Tags: Home, homeowner, mortgage, Refinance, refinancing | 
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Mortgage Help Ireland
March 17th, 2009
Mortgage Help Ireland
Question: Is foreign mortgage interest paid 100% deductable against all US taxable income?
Property purchased in Ireland earning rental income. Is Irish mortgage interest 100% deductable from total taxable USA income (federral and state)?
Answer: James H's post tells you about mortgage options, but does nothing to answer your question. The fact that the property is in Ireland does not change the fundamental tax analysis compared with a rental property owned in the US (I assume you are a US citizen or green card holder). The mortgage interest is deductible in arriving at the net taxable income from the property. Once you've computed that, you will then need to determine whether you have a loss that may be suspended under the passive loss rules. Any suspended loss is carried forward indefinitely until you have income or sell the property. See IRS Form 8582 on the IRS's website at www.irs.gov.
Note that, under separate rules, the financing of the property using a foreign currency is effectively treated as an investment in the foreign currency itself. Any resulting gain/loss from paying off the mortgage principal in the event the dollar rises/falls relative to the euro will be taxable/deductible in the US.
negative equity explained (property)
Mortgage Help In Maryland
February 19th, 2009
Mortgage Help In Maryland
Question: i am a mortgage broker and I was wondering if anyone knows of a way to generate?
more business. I'm looking for more leads to call people with
or places that will ulitlmitly supply me with leads. I can
lend in New Jersy, Connecticut, Rhode Island, Massechusets Virginia and Maryland. These leads also have to be either free or pretty cheap. If anyone has ideas or whatever, that'd
be awsome
Thanks!
Answer: Make an alliance with Realtor agents. They can recommend u to their customer.
Also, make a one page doc which they can down load from your site or hand out explaining how they can get approved for a loan. This will eliminate the fear factor on "will I get approved". Make it as non sales-sy as possible to show validity of contents.
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