brian.edwards1@btinternet.com asked:


I am 6 years into an interest only mortgage and want to change to a capital and interest mortgage. How do i go about this andhow do i get the money i have already paid into my endowment policy?

Lee asked:


My mortgage payment will adjust in about 18 months. The mortgage balance is $300,000. I can not refinance now since I am unemployed; however I do have a lot of money saved and invested. My savings and investments are about equal to the mortgage balance. Payments at this time are about $2,500. What can I do to hedge against interest rates going higher at that time?

niffer’s mom asked:


I’m recently divorced. The ex quit-claimed the house, and the house was awarded to me under default dissoltion. I have been paying the mortgage, and all associated expenses for more than 18 months. It is an FHA loan.
I need to basically assume responsibility for the mortgage, and have his name removed from the loan. I have money in escrow from insurance for hurricane damage that I need to have paid out, to me in my name only, so that I can continue repairs. Right now, because he is listed as a borrower, the check would be issued in both names. He’s long gone, and I won’t be able to get him to sign a check.
Can I just present my paperwork, (the quit claim, the divorce decree, the bank statements, etc.) as proof that I’ve been solely responsible for the loan and assume the mortgage? Or, do I still need to pay the assumption fees, and qualify for the loan?

john asked:


I have a standard 30 year fixed rate mortgage at around 5%. I am planning for an early mortgage payoff. I am wondering if I should pay the minimum mortgage payment and save my extra cash until I can pay the mortgage off in one lump sum 9-10 years from now or make smaller monthly payments.

ttedua asked:


The reverse mortgage will be for my mother who is unable to manager her funds. How can I protect her funds and administer her monies safely? Is it possible to put restrictions on where and how much money is used?

binaryalgorithm asked:


I see that Freddie Mac is a government-sponsored mortgage lender and promotes safe and responsible borrowing. Has anyone had experiences with them? Would I be more likely to be able to qualify for a house with them? Are there certain reasons for choosing them vs. traditional lenders?

**k** asked:


Is there a certain day that banks add interest to mortgage loans? I am currently have a mortgage loan with Chase Bank.

Kelli M asked:


If the company that holds my mortgage goes belly up, what happens next? Does someone else buy the mortgage? And how would this affect me as the homeowner?

lisamj asked:


Bought an investment property in Detroit and unable to find a stable renter. Lender won’t foreclose or do a deed in lieu of. $69000 owed on mortgage even though house is definitely not worth that now. Lender threatening to send it to collections. House is and has been on the market for months.

ksb143 asked:


We applied and were approved for a refinance on our mortgage. The day before closing the underwriter says that the expenses we claimed in our tax return last year(approx $20k) were to be deducted from the income and therefore the ratio was off. I’ve never heard of this. I assumed that this
would have been looked at before approving the loan. Does this make sense? So I faxed the broker the last paycheck stub for 2006 that showed the total expenses reimbursed for the year were $9300. Shouldn’t that be considered and offset the expenses paid out. Does anyone know what to do in this case?