Upside Down Mortgage

Posts Tagged ‘media’

Underwater Mortgage Help 2009

Question: If 48% of homeowners will owe more on their home mortgage than their home is worth by 2011 how are we going?

to have an economic recovery?

Won't that mean many more foreclosures ahead?

http://money.cnn.com/2009/08/12/real_estate/housing_mortgages_underwater.fortune/index.htm?postversion=2009081212

iamct01: Do you really think its the homeowners faults when property values plummet? I dont.

Answer: No, we won't.

Yes, it will.

Some people don't know the ins and outs of property values. They just have an opinion.

The present scenario is going to lead to market stabilization, with the result that a majority of former homeowners will no longer be able to afford a home, nor buy one anytime soon.

This means that a majority of the houses formerly owned be Americans and legal immigrants will now belong to foreign investors. Once they have that much control over home prices, you can kiss the "free market" goodbye.

Town Hall Meeting LA Anger 2009

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Mortgage Help Military

Question: Military or Veteran's Mortgage financing, who has the best deals around besides USAA?

I know Im supposed to check everytday.... Right now I am only tracking USAA and Pentagon Credit Union. Seen Bank of America and Wells.. not a good deal at all. The best one by far has been USAA. Im wondering if there are any other Lenders outthere.

Answer: what I'm not clear on is whether you are looking to use a VA mortgage, or get conventional financing but from a military affiliated institution. USAA and Penfed are both good places, I bank with both. Other good options are Ft Sam Houston and Navy Fed Cr Union.

Check around with some mortgage brokers too. They often have lenders that you might never have thought of.

I know ARMs are kinda BS right now, but for military folks, hear me out on this one. If you are thinking of being in an area for 4 years, and no thoughts of settling down or keeping th ehome after you PCS, then Penfed has a 7/1 ARM that gives you a fixed rate for the first 7 years. They are in the mid 4.xx% right now, you sell the home when you PCS and it is like getting a fixed rate loan for 4-5 years. Of course you have to be in an area where the home values are more stable than in most of the country, and the ability to sell the house is there. This strategy wouldn't work in Detroit, but may work in Seattle, for example.

Good luck

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Home Mortgage Help Center

Question: can my wife go to court and get her name added to the deed of our home?

i want a divorce and my wife is trying to trap me in the marriage by making it impossible for me to leave. one of the ways this stupid womens' center advised her to do this is by going to court and getting her name put on the deed. her name IS NOT on the mortgage note, but she does not want me to be able to sell the home.

Answer: If the house belongs to you both then it sounds like community property, no matter whose name is on the deed.
You can still get a divorce, but you will have to split your property and debt fairly and legally.

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