I **** spam answers asked:


Morgages confuse me, my partner and i are in our twenties rent and dont have anything saved yet, how much shall we save? I’ve not told him i don’t understand how morgages work – i’ve never really asked can somebody put it nice and easy for me?? Also how we go about owning our own house…is a morgage worth it? I’m ok to rent but everybody keeps telling us its time for a morgage…whats wrong with renting? HELP! Thanks x Best answer 10Pts x

Bryan

bibson2000 asked:


I am not familiar with morgages and I am interested in buying a house.
Someone is asking me to take over their morgage & here’s what he told me:
You can take over my mortgage & deed for just $50,000. That hi current monthly payment is $2,600 with a 6.3% including taxes & insurance and that the Bank is will to let me apply for a refinance 4 a different rate and payment.

Can someone explain to me what this really mean? Seems too good to be true. From what i understand the total price of the house would be $50000 and i can re-apply to get a lower payment and rate. Is it as simple as that? Please help! at the end, I’ll only pay $50000 and interest?

Thanks,

H

Ruby

Kenneth asked:


the morgage company that first had my morgage lost thier licence to have morgages and another bank bought my morgage ,I recieved a letter from my house insurence agency and they say that it hasnt benn paid since the new morgage company bought it ,so when i called this new company they said it wasnt included when they bought the morgage and now they want 500.00 and my morgage is going to go up another 50.00.

Ralph

Roger C asked:


It appears that lenders do not refinance mobile homes that you dont live in. I own the mobilke that my son lives in. He pays the morgage.

Larry

gdiaz18@yahoo.com asked:


we have poor,bad credit and we want a morgage loan to purchase a forecosure home does anyone know of any that will loan to someone with bad credit please let me know a.s.a.p

Rhonda