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

Louis G asked:

sub-prime lenders give loans to people with bad credit. It’s a small segment of the market. The news is coming out that people are defaulting on these loans.. Why is this suprising? it’s a sub prime market. Of course risky loans to people with bad credit are going to be defaulted on. The market is plummeting on this news as if it is a suprise somehow.
What gives?

Question posted courtesy of: Bernice

allcharm97 asked:

I keep reading about credit spreads causing havoc on the US markets. Bank stocks are getting hit, hedge funds are closing. Can someone explain why the sub prime market can have this impact on everything??

Question posted courtesy of: Johnny

vinoth kumar m asked:

Inflation affects worlds economy, and mortgage sub prime crisis directly affects the trade and international markets.
Any one tell me when it will be over?

Question posted courtesy of: Jeanne

Deep eyes asked:

what is the difference between prime and sub prime credit?

Question posted courtesy of: Cody