Saturday, 13. August 2011
My father technically owns my house, but I’m wanting to get a home equity loan with my father’s permission to add on a home office. If my dad gives the permission for it and I guess co-signs it, can I still get the loan in MY name? Or does it need to be in his? I just dont want to burden him with extra paper work and everything else if I can just take care of it myself. Thanks!
Saturday, 14. May 2011
My mom has a home that she bought in 1997. She bought it for 81K and now it is worth about 350K. (It was built in 1991 and we are in southern California.)
She paid off the house back in 2004-just after her husband died she collected the 100K from the life insurnace policy. She is making about .60 an hour-full time-and now she will be bringing home less since her employer is going to take out about a month for health benefits. She only made around 17K last year.
She is about 4 or 5K in credit card debt. Since her husband passed in 2004, she has paid down the credit card debt a lot from 7 or 8K – (most of the money came from the left over amount after paying the house off) but she is still struggling to pay all of her bills.
If my parents had not had the life insurance + if my mom had to pay the mortagage (0.00 month) we would be living on the street now. There is no way she could afford that on her income. Is it worth it getting a home loan for 5K or 6K?
My mom has the ’99 truck (it was dad’s) and it is running and that truck is paid off. Her car a ’99-not running is also paid off. I already asked her if she wanted to rent the room out-she would rather not with her 3 little doggies. They would bark too much.
I thought that interest payments would be lower than credit cards. She is paying 22% of one of her credit cards. that is crazy! I will show this to her tomorrow. Thank you all! If I could I would give you all best answer!
Monday, 14. March 2011
Question Details: I know i should save $ for a down and have been but something always come up with kids and it’s VERY HARD so pleeeease, no lectures *smile*:-)))
. Here’s my question. I was told I am eligible for the piggyback 80/20 loan (I have bad credit I am fixing)but the 20% loan up can have 10% interest! I’ve done some calculating and if this is the case I’ll be paying about 00 for the 1st mortgage and 0 on the 2nd and basically would have negative equity by the time I finally move in. Am I right? Should I just wait to save at least 3% for the SONYMA loan which gives you 6.7% interest? PS-my dad has great credit and he said he would co-sign.
What about a 100% loan with PMI instead of a piggyback loan? What would the monthly mortgage be guesstimating the home is 0K?
Your advice is heartily appreciated. With the interest rate on the piggyback loan after 30 years I would have paid over a million dollars on a 0K home. Am I calculating this wrong or is the truth th
Friday, 11. March 2011
I know i should save $ for a down and have been but something always come up with kids and it’s VERY HARD so pleeeease, no lectures *smile*:-)))
. Here’s my question. I was told I am eligible for the piggyback 80/20 loan (I have bad credit I am fixing)but the 20% loan up can have 10% interest! I’ve done some calculating and if this is the case I’ll be paying about 00 for the 1st mortgage and 0 on the 2nd and basically would have negative equity by the time I finally move in. Am I right? Should I just wait to save at least 3% for the SONYMA loan which gives you 6.7% interest? PS-my dad has great credit and he said he would co-sign.
What about a 100% loan with PMI instead of a piggyback loan? What would the monthly mortgage be guesstimating the home is 0K?
Your advice is heartily appreciated. With the interest rate on the piggyback loan after 30 years I would have paid over a million dollars on a 0K home. Am I calculating this wrong or is the truth that craz
Wednesday, 9. March 2011
I know i should save $ for a down and have been but something always come up with kids and it’s VERY HARD so pleeeease, no lectures *smile*:-)))
. Here’s my question. I was told I am eligible for the piggyback 80/20 loan (I have bad credit I am fixing)but the 20% loan up can have 10% interest! I’ve done some calculating and if this is the case I’ll be paying about 00 for the 1st mortgage and 0 on the 2nd and basically would have negative equity by the time I finally move in. Am I right? Should I just wait to save at least 3% for the SONYMA loan which gives you 6.7% interest? PS-my dad has great credit and he said he would co-sign.
What about a 100% loan with PMI instead of a piggyback loan? What would the monthly mortgage be guesstimating the home is 0K?
Your advice is heartily appreciated. With the interest rate on the piggyback loan after 30 years I would have paid over a million dollars on a 0K home. Am I calculating this wrong?
Thursday, 17. February 2011
My dad passed when I was 19 and let me some money I invested it in a home believing this to be a wise decision at the time.I figured I would be able to find a decent job, but all I find is part time stuff and now I can’t pay all of my property taxes and the house needs some repair before I can possibly sell it.
Thursday, 27. January 2011
My dad is interested in purchasing a home for me and "renting" it to me. His house is paid off, he has no mortgage loan currently. Does he have to put down 20%? If so, is there any way to get around that?
Friday, 7. January 2011
I know i should save $ for a down and have been but something always come up with kids and it’s VERY HARD so pleeeease, no lectures *smile*:-)))
. Here’s my question. I was told I am eligible for the piggyback 80/20 loan (I have bad credit I am fixing)but the 20% loan up can have 10% interest! I’ve done some calculating and if this is the case I’ll be paying about 00 for the 1st mortgage and 0 on the 2nd and basically would have negative equity by the time I finally move in. Am I right? Should I just wait to save at least 3% for the SONYMA loan which gives you 6.7% interest? PS-my dad has great credit and he said he would co-sign.
What about a 100% loan with PMI instead of a piggyback loan? What would the monthly mortgage be guesstimating the home is 0K?
Your advice is heartily appreciated. With the interest rate on the piggyback loan after 30 years I would have paid over a million dollars on a 0K home. Am I calculating this wrong?