snickybugg asked:


My fiance and I have been looking at homes for almost 2 yrs now and finally came across a home we rly liked, in our price range and in the area we went. Well, its considered a ‘trailer’ even though there is a huge add-on and it looks like a Ranch. All the banks say we would have to put 80% down of the asking price (which is $79,000) which we CAN NOT afford. The most we can put down is $10,000.

So my question is, is there a bank or lender ANYWHERE that will let us re-finance a trailer (if needed) and give us a good loan without a huge interest rate?

Thanks

PS Please only answer if you really know, we need to have an answer to the owner of the home by Friday. T/U!
Thank you Marc!!
We would be buying the trailer, and almost 3 acres of land to go w/ it. Its a gorgeous trailer believe it or not. The owners have lived there for 21 yrs and done over $20,000 in work in just the last year. Right now my fiance and I live in a trailer in a park and its horrible!! So cold, so tiny and no yard.

But thank u thank you thank you again! We will def. look into these!! )

~Sarah

first home owner loan

Rossonero NorCal SFECU asked:


Or does prop. 13 force counties to stick with the original price a buyer paid for the home? I want to take a very small home equity loan out ($5,000), but it may not be worth it if my tax bill goes up 50%.

first home buyer loan

meisha k asked:


I’m a first time home buyer, and I’m buying a small, inexpensive home which will require no mortgage or loans. In researching about closing costs, it seems that they’re related to the mortgage and lender fees. If I have no mortgage or lender, are there still closing costs, and if so, what would they be for? Thank you

first time home buyer loan

j_mann33333 asked:


I know of the sure fire way which is add to the principal each month, however, any other solutions? I would like to pay it off in 15 to 20 years.

home loan

__A_YAHOO_USER__ asked:


. What does leasing a car involve?
(Points: 2)
Purchasing a car from a car dealer rather than from the previous owner

Using a loan to buy the right to use a car only on specific days of the week

Paying off the car loan over a period of time that’s longer than the car is owned

Renting the car for a specific period of time and paying for its depreciation

2. When can a bank repossess someone’s car?
(Points: 2)
When the owner buys a used car

When the owner gets into an accident

When the owner cancels the insurance

When the owner defaults on the loan payments

3. Which of these makes a student loan different from other types of loans?
(Points: 2)
Students don’t have to provide any collateral to get a student loan.

Student loans are sponsored and guaranteed by the government.

The principal on a student loan is paid off before the interest is applied.

The payments on a student loan can’t be shown on an amortization table.

4. Which of these describes how a five/one ARM mortgage works?
(Points: 2)
The monthly payment is one-fifth of the total purchase price of the house.

The interest rate is fixed for five years and then changes every year afterward.

The interest rate charged on the mortgage is five times the normal interest rate.

The annual fees on the mortgage are only charged during the first five years of the loan.

5. What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage?
(Points: 2)
Government mortgages are easier to get approved than conventional mortgages.

Government mortgages allow home buyers to spend more money on their house.

Government mortgages charge lower interest rates than conventional mortgages.

Government mortgages prevent the government from taking the property for public use.

6. What is one advantage of using a credit card to make purchases?
(Points: 2)
You earn interest on your purchases.

You can buy something now and pay for it later.

You automatically improve your credit history.

You get instant access to your checking account.

7. Match each of the fees below with the situations where a credit card customer would get charged.
(Points: 2)

Matching:

Answer Potential Matches:
: Annual fee
1: The credit card company requires a yearly payment for the right to use the card.

2: You use a new credit card to pay off the $1,000 balance on another credit card.

3: You pay your minimum payment one week after the due date.

4: You withdraw $500 from an ATM using your credit card.

: Balance transfer fee

: Cash advance fee

: Late payment fee

8. Why is it important for people to maintain a good credit history?
(Points: 2)
So that the IRS won’t investigate them for tax fraud

So that it’s easier to list the expenses on their personal budget

So that they know all of the fees associated with their credit cards

So that they have an easier time getting loans and credit cards

9. Which of these credit card features would be best for customers who think they might not be able to pay their balance at the end of each month?
(Points: 2)
No fees for cash advances

A high balance transfer limit

A low annual percentage rate

An annual fee that can be waived

10. Match each of the credit card terms with its definition.
(Points: 2)

Matching:

Answer Potential Matches:
: Annual percentage rate
1: Number of days to run a balance before fees or interest are charged.

2: A listing of a person’s financial information and history

3: A credit card with money in a savings account to act as collateral.

4: The amount of interest paid on unpaid balances.

: Grace period

: Secured card

: Credit report

first home owner loan

hockeyscott76 asked:


I am considering taking out a 401K loan to invest in an IRA in order to lower my adjusted gross income so that I may take the first home buyer tax credit that was introduced last month. Is there a tax penalty for doing this?

first home buyer loan

Fogel asked:


I have a question regarding the $7500 tax credit for home buyers. I was in a land contract since 2002 – 6 years. And recently I just refinanced my home, FHA Stream Line Home Loan in June/08. I bought the home in 2002 on a land Contract, me only.

I got married in 2006 and refinanced 2 months ago, with my Wife…… Do I qualify as a refinance land contract? Or will my wife qualify – because she was just put on the house, and she never owned a home prior? We file our tax’s jointly……

first home buyer loan

jacodenn7 asked:


I am about to flip out. I saved money for years and finally had enough to get a loan to buy me and my fiance a home on march 31, 2008. I recently lost my job and now she is having a tough time paying the mortgage. They just passed a bill to GIVE first time home buyers a 15000 dollar tax credit, that does not have to be repaid, but It is for homes purchased on april 9, 2008 and later. So I missed this by 8 days? This is so not right, why wouldn’t they just say for the whole year of 2008. We have almost zero funds now and we aren’t going to get anything? Is there anything I can do? Thanks in advance

first time home buyer loan

corbin_rox asked:


If a person got a home equity loan a year and racked up debt can they add to the existing loan or get another?

home loan

Don P asked:


Trying to figure something out…

home loan