Author Topic: Any mortgage experts on the forums?  (Read 14275 times)

Offline yoohoo

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Any mortgage experts on the forums?
« on: November 03, 2016, 10:02:01 PM »
If I want to take out a mortgage, with the monthly payments being more than half of my monthly income, will a consigner help me get approved?

Offline Mordyk

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Re: Any mortgage experts on the forums?
« Reply #1 on: November 03, 2016, 10:52:36 PM »
If I want to take out a mortgage, with the monthly payments being more than half of my monthly income, will a consigner help me get approved?
you are basically looking for a mortgage broker here.  in short, yes.  if a co signer is allowed (because you cant get approved), that means its in the co signers credit the whole approval.

Offline yoohoo

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Re: Any mortgage experts on the forums?
« Reply #2 on: November 03, 2016, 10:58:53 PM »
I have very good credit, I'm just looking to take out a high mortgage (I will have help paying the monthly payments). Normally the payments cannot be more than a certain (38%?) of your monthly income...

Offline oiseli48

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Re: Any mortgage experts on the forums?
« Reply #3 on: November 04, 2016, 12:14:11 AM »
I have very good credit, I'm just looking to take out a high mortgage (I will have help paying the monthly payments). Normally the payments cannot be more than a certain (38%?) of your monthly income...

Correct. However with a co-signer, they take into account his debt to income ratio, and add it to yours. So if his mortgage/car payments/credit card debt is only 25% of his income, it will help you out with your numbers.

Offline Aaaron

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Re: Any mortgage experts on the forums?
« Reply #4 on: November 04, 2016, 01:39:31 AM »
Correct. However with a co-signer, they take into account his debt to income ratio, and add it to yours. So if his mortgage/car payments/credit card debt is only 25% of his income, it will help you out with your numbers.

+1


Offline MoMo22

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Re: Any mortgage experts on the forums?
« Reply #5 on: August 28, 2017, 05:44:29 AM »
Dos any one have info about mortgage brokers in Miami area ? Thanks

Offline ludmila

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Re: Any mortgage experts on the forums?
« Reply #6 on: August 28, 2017, 11:16:30 AM »
Correct. However with a co-signer, they take into account his debt to income ratio, and add it to yours. So if his mortgage/car payments/credit card debt is only 25% of his income, it will help you out with your numbers.
+1
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Offline oiseli48

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Re: Any mortgage experts on the forums?
« Reply #7 on: September 24, 2017, 02:29:58 PM »
Dos any one have info about mortgage brokers in Miami area ? Thanks

I used Sholom Laine from SD Funding

sholomny@gmail.com

Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #8 on: September 26, 2017, 10:12:31 PM »
Question: if the mortgage that i am holding now was done with a electronic note, is there anyway to do a CEMA and avoid paying mortgage tax if i refinance with another bank?
thank you

Offline hvaces42

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Re: Any mortgage experts on the forums?
« Reply #9 on: September 26, 2017, 10:15:04 PM »
Question: if the mortgage that i am holding now was done with a electronic note, is there anyway to do a CEMA and avoid paying mortgage tax if i refinance with another bank?
thank you
What State? NY? I would suppose there is a mechanism to get the E-signed note assigned to the new bank.
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Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #10 on: September 27, 2017, 06:03:37 PM »
Yes, NY.  Mortgage broker told me nothing I can do.  It is costing me a lot of money. Is there anything I can suggest?

Offline hvaces42

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Re: Any mortgage experts on the forums?
« Reply #11 on: September 27, 2017, 06:08:17 PM »
Yes, NY.  Mortgage broker told me nothing I can do.  It is costing me a lot of money. Is there anything I can suggest?
Where are your original documents? Who was the Bank attorney when you took out last mortgage? There has to be a way. Mortgage broker is probably pushing because he wants to expedite closing. Someone has an original.
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Offline Yef

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Re: Any mortgage experts on the forums?
« Reply #12 on: September 28, 2017, 03:02:16 PM »
I appreciate your help. I will look into everything you are suggesting.
Thank you

Offline dovy2

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Re: Any mortgage experts on the forums?
« Reply #13 on: July 10, 2019, 10:25:36 PM »
Hi there.. not sure where to post, so I'll post here.

I know of someone who's just had their 60 acre property (in the Poconos) sold via sherrif auction (very sad story)... they might have a chance to buy it back from the new buyer, and we're hoping they wont charge them too much more than they paid...

Here's the question - does anyone here know a good place from where can they get a short-term loan of around 100k - they'll need about 2-3 years to pay it off, and they are ready to pay about 20% interest... they are also ready to put the property (tax-assessed for about 600k) as collateral.

thanks

Offline chinagel

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Re: Any mortgage experts on the forums?
« Reply #14 on: July 10, 2019, 11:30:44 PM »
Hi there.. not sure where to post, so I'll post here.

I know of someone who's just had their 60 acre property (in the Poconos) sold via sherrif auction (very sad story)... they might have a chance to buy it back from the new buyer, and we're hoping they wont charge them too much more than they paid...

Here's the question - does anyone here know a good place from where can they get a short-term loan of around 100k - they'll need about 2-3 years to pay it off, and they are ready to pay about 20% interest... they are also ready to put the property (tax-assessed for about 600k) as collateral.

thanks
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