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How do student loans affect a mortgage applicaton?

Tim — Fri, 27 Nov 2009 21:47:57 +0000

LadyLiberty asked:

I have $60,000 in various student loans, but since consolidating my combined payment is only $300/month. I have no other debt. Do lenders view student loan debt differently due to the flexibility of the loans? Also, would they look more at the total amount of the debt or the monthly payment when determining the rate and loan amount?

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Can troubled morgage companies call in their mortgage loans?

Tim — Mon, 09 Nov 2009 23:53:16 +0000

Brandon E asked:

I’m current on my note. This is just a general question. I know about foreclosure for non-payment. I’m asking a hypothetical question. Can a mortgage company arbitrarily call in their home loans anytime they want and for any reason? or under what circumstances can they call in a mortgage loan, other than default?

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How do I find out if someone is using my name for mortgage loans that I know nothing about?

Tim — Thu, 29 Oct 2009 08:18:51 +0000

Julio asked:

I was looking up my credit report online and for the questions to make sure I was me I was asked about mortgage loans in two different years that I know nothing about. I’m renting a apartment and haven’t took out any loans that I can think about

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Pre-qualifying for mortgage loans in order to shop around?

Tim — Sun, 20 Sep 2009 05:26:13 +0000

ambrosialea asked:

Is pre-qualifying for a mortgage loan the way to compare loans? I am a first time home buyer and want to understand the best way to shop for a loan. Then if I chose a loan and wanted to get pre-approved, how long does it take to get approved before I can put a bid on a house?

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is it advantageous to talk to different banks/mortgage companies for options on mortgage loans?

Tim — Sun, 19 Jul 2009 00:32:14 +0000

jettamadness asked:

we are first time homebuyers and will be looking to get an FHA loan…is it okay to talk to, maybe like, three different places (2 banks and 1 mortgage company) to see what is available to us?…or will that hurt us?

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Mortgage loans?

Tim — Sat, 06 Jun 2009 08:30:00 +0000

indigo433 asked:

Who does the mortgage lender disburse the loan to. From my understanding, the lender direct deposits the loan into the buyers (borrowers) bank account. Then the buyer cuts the seller a check. Is this correct?
I was not eligible to borrower any funds beyond the asking price. So my mortgage consultant advice me to work out a side deal with the seller. The seller is asking for 40,000. But the consultant said raise the price to 55,000 and let the seller refund the 15,000 to me. So that’s what I did. We (meaning the seller and I) made the purchase agreement for 55,000 and made a side contract (notorized) stating the seller agrees to refund the 15,000 for repairs and rennovations. Even though I have this contract, I am a little skeptical if the seller will follow through without a hassle. Can I arrage it where the lender disburse the 40,000 to the seller and 15,000 to me. What will happen if the lender finds out about our side agreement? Do they really care?

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Is a bank or a credit union better for mortgage loans? I am with a bank and heard that credit unions are a?

Tim — Thu, 28 May 2009 17:16:50 +0000

Mrs! asked:

better way to get approved for mortgage loans, and are overall better. Is this true?
Thanks!

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What does it mean when my student loans have a zero balance due to a claim?

Tim — Tue, 05 May 2009 12:25:39 +0000

river85715 asked:

My student loans are through NelNet and I received a letter from NelNet instructing me to stop making payments. The reason they give is that my student loan account has been paid by a claim and now has a zero balance. I have had student loans since 1995; but I also have filed bankruptcy. What does all this mean? What claim paid my loans off? Did I or someone else get sued for the money?

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How is Ditech with their mortgage loans compaired to other companies?

Tim — Fri, 03 Apr 2009 01:33:42 +0000

Amanda asked:

I’m in the process of buying my first house. I live in Northern CA and have heard from a few people to go with Ditech for a mortgage loan but I am just a bit worried because it doesn’t seem like I would be able to sit down and talk to a real person. It seems most of it is done over the phone.

Has anyone had any good or bad experiences with them?

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Why do amortized mortgage loans have such high interest payments and such low principle paydown ?

Tim — Thu, 02 Apr 2009 05:06:20 +0000

raclawski04@ameritech.net asked:

Why do amortized mortgage loans have such high interest payment during the first few years? The seller is offering seller financing. Can I offer “straight line ” loan where say the principle and interest is 50/50?

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