Question: True about things being relative…I think the standard of living is higher now, and people have more, but I remember a subdivision of homes built in Irving, sub of Dallas, frame, 3 bedrooms, hardwood floors…very cute and the average working guy could afford one. My dad was an uneducated union worker and [...]

Question: I have a question about refinancing a home loan, and about how banks view a rental property, and perhaps what order we should do things if we want to move in the next few months. (move out to the suburbs in the same area – not long distance)
We are [...]

Question: > If you hold out a dollar for people to take, >>> We’re talking about loans, not gifts. >> It aint that black and white when the interest rate is derisory. > I really doubt that any lenders were openly mocking their customers with an offer of a loan.
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Question: I thought I was doing the right thing by paying down all my debts and > it turned around and burned me!
> I have 5% down, good solid income, and I can afford the mortage > payments…
> Has anyone been through this before that would care to shed some light [...]

Question: Most of these people are in debt up to their teeth and beyond. > I live in Southlake, TX. The average home here is $350,000+, with > many in the $500,000+ range. They are owned by duel professional > families (he’s a doctor, she’s a lawyer, etc).
> Most of these families are [...]

Question: That’s good it is working for you.. Just don’t get a home loan with them.. A > national radio show called the trouble shooter (Tom Martino) gets calls > weekly about horror stories each week about them.. It took almost a year for > me to clean up a accounting screw up on their [...]

Question: DS and DIL are trying to get a home loan. They were trying to get a Rural 100% home loan which is currently lending at 6%. Their credit score was 610 so they would not get the 6% rate they could have gotten if their score was 620. This would make [...]

Question: Have you applied for credit together anywhere, > applied for a home loan together, ring shopped together, and used a credit > card?
Answer: Used my credit card to pay for the rings, yes, but that was nearly a year ago. (Yeah, this wedding’s been in the works for [...]

Question: I’m sorry this worked out so badly for you.
> Unfortunately, those are the chances you take. Most banks will tie the > rate to their prime lending rate, which is itself tied to something like > T-bills. I wouldn’t consider any loan agreement where this was not the > case.
> [...]

Question: one usually has the option of paying off the longer-term > loan faster and thus, saving on interest payments
Answer: While you are paying extra payments on a 30-year, you are still paying a much bigger chunk of your monthly payment to interest.
I had a 15-year on my [...]