Question: Can anyone brief me on the basics of LLC’s or where to find more info?
Would such a corporation be appropriate for me to enter into with my son for purchasing jointly owned out of town (for me) real estate for investment purposes? Is an LLC essentially a S-corp for partners???
Are there better [...]

Question: About a year and half ago, I took out a 80-15-5 loan.
I paid 5% down to purchase the house. Then 80% of the loan is a 5-year ARM. The remainder 30% (amounts to about $33K) is in line of credit in which I pay market+2 % interest.
I was wondering if I could [...]

Question: No one can predict where rates will go, but one thing is for sure: you’ll be paying 6.25% when your rate adjusts in four months. That’s the nature of ARMs. After that, the market will determine your rate.’m currently eight months into a 30 year ARM on a house my wife and [...]

Question: I was wondering what is the most a Real Estate Agent can do in assisting someone in obtaining a mortgage? What process do they go through and can they actually help assist you? Any information regarding buying a home/first time home purchase would be helpful.
Answer: My name is Gordon [...]

Question: I am sorry for the previous post; the lines were too long and were truncated. Thanks for the responses so far.
I am in the process of refinancing my 1st and 2nd mortgages. The loan broker I am dealing with was referred by my credit union. I have always had good [...]

Question: I got a flyer from a mortgage broker that said “From your loan records, you could refinance at a lower rate today!” Rates are low, and I was looking to refinance. So I called and we got started. He promised zero points and zero loan fees. Everything proceeded as expected, [...]

Question: I plan on building a house in 3 years on some vacant property I own. I wanted to buy a less expensive house now and live there for three years. I was going to get a 0% down 30 year loan at 5.75% to buy the house. A mortgage broker recommend [...]

Question: Last year I purchased a manufactured home on 1.25 acres. A couple of weeks ago I lost my job of 14 years and am looking for a new one. My question is that if worst comes to worst and I can no longer make my house payments, can the bank that holds the mortgage [...]

Question: I am in the process of purchasing my first rental a duplex. This will actually be my first property purchase at all. My problem and question is I at the moment live in a employer provided house where I have been for 6 years and pay no rent and do not show [...]

Question: I own a home that I have a mortgage on and make all payments on. There is a co-borrower on that loan. I want to buy a second home. For mortgage purposes, will the entire first mortgage count against me or just 1/2 of it?
Answer: It probably depends on how [...]