Any mortgage experts on the forums?

[yoohoo]

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?

[Mordyk]

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.

[yoohoo]

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...

[oiseli48]

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.

[Aaaron]

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

[MoMo22]

Dos any one have info about mortgage brokers in Miami area ? Thanks

[ludmila]

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

[oiseli48]

Dos any one have info about mortgage brokers in Miami area ? Thanks

I used Sholom Laine from SD Funding

sholomny@gmail.com

[Yef]

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

[hvaces42]

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.

[Yef]

Yes, NY.  Mortgage broker told me nothing I can do.  It is costing me a lot of money. Is there anything I can suggest?

[hvaces42]

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.

[Yef]

I appreciate your help. I will look into everything you are suggesting.
Thank you

[dovy2]

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

[chinagel]

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

Credit cards.

[Zalc]

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

Credit cards or I've heard good things about Share states.com
(Not affiliated, but have worked with them a bit)

[BarryLincoln]

Am considering a mortgage refi now that rates are back at historic lows.  Bank I am talking to is offering a 3.25% fixed rate 30-year mortgage with zero points.  About $3,500 in closing costs (bank fees, title insurance, appraisal, etc.)  Looks to me to be a good deal but was curious if there are any experts out there who might be able to weigh in...  thanks in advance!

[ruru1000]

Which bank is this? If refinancing with the same bank as the current loan, you may be able to get them to cover the closing costs as well.

[upside down]

Am considering a mortgage refi now that rates are back at historic lows.  Bank I am talking to is offering a 3.25% fixed rate 30-year mortgage with zero points.  About $3,500 in closing costs (bank fees, title insurance, appraisal, etc.)  Looks to me to be a good deal but was curious if there are any experts out there who might be able to weigh in...  thanks in advance!

Which bank is quoting 3.25%?

[tzifanya54]

Am considering a mortgage refi now that rates are back at historic lows.  Bank I am talking to is offering a 3.25% fixed rate 30-year mortgage with zero points.  About $3,500 in closing costs (bank fees, title insurance, appraisal, etc.)  Looks to me to be a good deal but was curious if there are any experts out there who might be able to weigh in...  thanks in advance!

Please share. Which bank? I am being quoted @ 3.60% with $4500 in closing costs....