pay off mortgage
Understanding Streamline Refinancing
Q: I was trying to do a streamline refinance of my mortgage and was told that the lender can’t decrease the interest rate on my loan without changing the number of years left on my loan. I have never refinanced …
Selling House At A Loss Might Have Benefits
Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a …
Seniors: Prepay Mortgage Or Save Cash?
Q: I had written to you a few months ago and never thought I would get a response. To my amazement I was reading your column in Sunday’s paper and my letter was answered by you. I want to thank …
Prepaying Mortgage Will Reduce Length Of Loan
Q: In one of your recent articles, you addressed the point of making one extra mortgage payment a year to reduce the term of a mortgage. Your response states that doing this will reduce the term of a 30-year mortgage …
Refinancing A Home Equity Loan In Texas
Q: We refinanced and took money out of our home in 2005 with a Texas home equity loan at 7.5 percent. Whenever I ask about refinancing with any one of numerous mortgage companies, I am told that any refinance would …
Short Sale Price Negotiation Between Homeowner and Lender
Q: Will my mortgage company set the price for the amount they will accept for a short sale? And, will that number include the fee for a Realtor to help sell it? A: You have asked an interesting question and …
Mortgage Lender Can Pursue Homeowners After Foreclosure With Deficiency Judgment
Q: I’m in trouble with my house. I’m heading to foreclosure, unless I can complete short sale quickly. Once we’re done with the property (either due to foreclosure or in a short sale), can the mortgage company require me to …
Underwater on Mortgage, Lower Price or Allow Foreclosure?
Q: My husband, our two-year old daughter and I have been living in a home for a year. We used to live in a high rise condo in a nearby city, and that property has been up for sale for …
Difficulties Refinancing a Farm Mortgage
Q: I bought a small farm using money from selling my other farm and taking money from my IRA. Because of the large income tax I was going to have to pay on the withdrawal and today’s historic low interest …
Number of Delinquent Mortgages Falls
The Mortgage Bankers Association announced this week that the number of delinquent homeowners rose a little in the first quarter of 2011, but over the course of a year, the number has dropped substantially. According to the MBA delinquency survey, …
