Mortgage Guide

rseverclear asked:

I am in the early stages of the build process I already have land and am looking at different house plans. I was approved for one loan for a house that I didnt get because of its size. So now I am going to build. How difficult is it to get a construction loan these days. I have excellent work history and near excellent credit but no down payment I do own the land that the house will be built on and no money is owed on that land.

Question posted courtesy of: Javier

yawlcome2000 asked:

I really can not understand why the worry about sub-prime, if you dont pay the bank or morgage company resposses house and they can sell it again and get their money back. They never lose nothing, but, perhaps high interest that they charged in the first place. It is only a paper loss not a dollar loss. All this fuss about hedge funds losses is only wall street cronies crying cause they did not get their over priced home money and interest on time, it is the rich crying that they did not make as much money as they wanted. They still got material holdings in that they hold title to foreclosed houses. Too much about nothing, but, the rich trying to get richer as usual circumstances in a few controling the wealth and the middle and poor suffering from the rich greed and incompetance.

Question posted courtesy of: Daniel