shakira murray asked:


The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high?

Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses.

Big businesses then had to cut back on expenses and began to lay people off the the thousands.

So what caused the mortgage rates to go up so high that started this financial mess in the first place?

iDream asked:


I know that a 30 year mortgage makes the monthly payments less which is more affordable but you end up paying more in interest. I’m planning to buy a house but not until years from now. I just like to be aware so that I know what I’m working for. I want to save and know what to expect. What about paying more on the mortgage payment, in that case is it best to get a 10, 15, 25 year mortgage or 30 year? It’s confusing to me.

MJB asked:


I own property with 2 other people. We have no written contract, etc., but just equally pay the mortgage. Two of us now want to sell the property, but one person refuses to. Do we have any legal remedies?
Thanks!

Barbie asked:


House is free and clear, I am consider selling and have been asked if I would hold the mortgage. I am confident in the character of these people. Who do I see, what do I do? New York State.

spafilterorders asked:


I was thinking about working under a broker in the mortgage business but, it is all commission. Since you need new customers everyday how do you find people who need a mortgage if you are not tied in with a Realtor?

MINI ROW. asked:


I’ve been hearing a lot about the “benefits” of interest only mortgages, but I’m not 100% convinced that this is the way to go. They say that people should get interest only loans and put the remainder of what you would normally pay (on the mortgage) in some type of investment. Should you use your mortgage like this, or should you pay the mortgage off quickly???