Mortgage Guide

donutsncoffee asked:


A friend of mine is in a situation where she has two mortgages on two different properties, one is her primary residence, and the other is an investment property. She is about to lose the investment property to foreclosure. She is scared that this might affect her mortgage/ownership of her primary property. Can it be legally taken away from her if she defaults on one of her mortgages?
I don’t think this could happen, but then again, I’ve never heard of anybody in this situation before.

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Ca L asked:


I would like to buy default mortgages from banks. How can I locate a seller of these notes?
I do NOT want to buy foreclosed houses. I want to buy the mortgages from loan pools. I do NOT want specific properties. I want under-performing mortgage/note packages. Banks sell them to rid themselves of toxic loans. I would like to buy default mortgages from banks. How can I locate a seller of these notes?

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Matthew O asked:


I hear this alot but don’t fully understand the process that led to the boom in sub prime mortgages and banks profits.

How did the banks make money from selling packaged up sub prime mortgages to investors, and why would the investors purchase them?

Where these investors the likes of Goldman Sachs and Lehman Bros?

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e e in california asked:


I want to know how banks set the interest rates for mortgages. All I know is that they move up and down with the fed funds rate and discount rate (Correct me if I am wrong). Does anyone know all factors that play into the rates that lenders come with? Is there a way to calculate or give more or less weight to any one of them? Thank you.

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micooooooo asked:


My mom is planning to add my name to the title or deed for our home. She already has two mortgages on the home, the original and then a second that was a loan for the roof. Would I be able to get a home equity loan for this home. I live in Milwaukee, WI

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Holly asked:


The combination of my first and second mortgages is greater than the value of my home. I am not behind on payments, but am concerned if anything happened to my home, I would not be able to completely pay the loans on my property.

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pugz asked:


My boyfriend is changing careers and going into selling mortgages. What are some gifts I could get him for Christmas that would help him out or make the job easier?

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scott h asked:


What is permitted and what is not permitted for advertising first and second mortgages? Is there a diffreence?
According to RESPA, what type of advertising is permitted for first and second mortgages? Is there a difference?

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asefs f asked:


I am about to buy a new home and was wondering about which bank to go to for home mortgages. Credit is okay but not perfect. Any recommendations for a trustworthy, reputable but fair mortgage lender?

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human reject asked:


what do i need to know about mortgages?
who is the best bank to go with for one?
how old do you have to be to get one?
whats the longest you can take pay one back?
and any thing else you think will help me.

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