I talked to a morgage company and the guy suggested that I should just re-finance and then make it rental property, he said I don't have to declare that it's a rental property. Also, I won't be eligible for FHA and sorta individual loans.
Just wondering if someone knows if this legal or not?
My loan's origional terms were for theree years. So, I 'd have to re-finance in a few months anyway.
Posts Tagged ‘best mortgage company’
PMI with an FHA loan?
Saturday, June 27th, 2009I have a home that we bought with an FHA insured loan in 1997 that we financed 99.92%. We currently owe 60K but house is now valued at 135K. When I contacted my mortgage company regarding removal of this they stated that do to the fact it was an FHA loan we are required to pay this until either the home is paid off or we refinance. Anyone know if this is the case or not??
Tags: bad credit mortgage, bad credit mortgage loan, best mortgage company, blog archive, commercial finance, Fannie Mae, FHA Financing, fha loan, FHA Loans, Freddie Mac, HUD, mortgage company, personal groups, predominance, quebec, retirement, Reverse Mortgage, treasuryWill the gov’t extend the 8k gift to first time homebuyers past Nov 30th?
Wednesday, June 24th, 2009I know there is talk about extending the 8k gift past Nov 30th. The gift was enacted to help with homebuying again, but it looks like 9 months may not be enough of a window to change things drastically. HUD secretary has made it so we can use the 8k for the downpayment. Why not extend for 3 years to really get the housing system back?
Tags: 3 years, 9 months, bayh, best mortgage company, bush mccain, cape coral florida, commonwealth bank, downpayment, e5000, family photo, furniture system, housing construction, housing system, HUD Gov, hud secretary, kiddos, money down, mortgage loan, new toys, photo shoot, second mortgage, shelby co, solid foodSearch :
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Many Dade County home buyers focus on finding the perfect home, not on finding the right mortgage lender to help them get the best loan to finance it. As a result, they pay higher-than-necessary interest rates and get home loans with ...
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I might be a bit biased considering the fact that i work for a mortgage company, but it really depends on what state you live in, what state you need the loan for. My best advice to you would be to look into Prime Cap Financial. ...
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You need to be vigilant when dealing with a refinancing company. Do not be carried away by glitzy marketing gimmicks. Just remember that the best and legitimate mortgage refinancing companies always adhere to traditional customer ...
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A Mortgagee is the lender of the money: a bank, company, or individual. A Mortgagor is the borrower: the person or persons (or company) that is borrowing the money, and who will pay it back to the mortgagee. The Mortgage, of course, is the legal document that pledges the property as a security for the debt. Still confused? Speak with a mortgage professional. Get the best mortgage suited to your needs and all your questions answered in plain talk. ...