Bryan Smith asked:


I built a house in 2008 but have not been able to close on the home and secure a mortgage. The mortgage companies I have spoken with tell me that until my previous home is sold I will have to continue with a construction loan and a very high payment. Does anyone have any advice?

jaysinrd asked:


I am buying a home and its with an FHA loan. The monthly payments will be easy for me to pay but I think I can rent it out for way more then the mortgage payments. So I am thinking about renting it but under FHA loans its supposed to be owner occupied. Do they come and check up on you, will they ever even know or find out? What really can they do if I am making all the monthly payments?

Frank C asked:


A family friend has bought his house for around 130,000 around 10 years ago. The current home value is 44,000 and he has to pay around $900 in mortgage payments. Is there any way to lower, or even stop, the payments altogether? What is the best solution for this dilemma?

lyricsborn808 asked:


I was legally separated in July, 2009 and my wife got the house. We made mortgage payments together up to our separation date (6 months). She made the mortgage payments for the remainder of the year. Can I claim half of the mortgage interest on my taxes?
I’m filing single.

KL asked:


Is this the correct formula for the tax deduction:
Tax rate of 38.5% times all the mortgage interest I paid in the past year?

Also, If I owe $100 in taxes but my deduction is $125 (based on formula above) does that mean the govt. will send me a check for $25?

paddingtonbearinlondon asked:


I’m surprised at how much maternity benefits vary from company to company and country to country. How are you planning to cover things like mortgage/rent payments whilst you’re on maternity leave?

Aqua asked:


My broker is suggesting a 75/25 mortgage which he says is good because you do not have to pay mortgage insurance, but does anyone know other details about it? Thanks!

Yankeesmith asked:


Lost job in the begining of May. Paid May mortgage payment, but only a fraction of June’s. It is now July 21. Can the bank foreclose already? I just sent $600 but still owe $1,000 of June’s mortgage.

ssxingcn asked:


I’m one month behind of my two mortgage payments (one for my own house, and the other one for the investment property). I am planning to catch up all the late payments in the end of next month since I need the money for some important thing right now. How bad can this hurt my credit score?

scipiovshannibal asked:


I’d like to know what the initial drop is in a credit score when a person falls behind on mortgage payments by one month. After the initial drop, does your score continue to drop each month you are not current or is it a one time drop? If it drops more each month you are behind, by how much?