Posts Tagged ‘Mortgage’

How likely is it that a bank would consolidate other debts with a new mortgage loan?

Posted in Consolidate Debts on 07/08/2011 04:08 am by


Question by Amber C: How likely is it that a bank would consolidate other debts with a new mortgage loan?
I am looking at purchasing a house but it would be much more affordable to do so should my other 2 major debts be consolidated into the mortgage. How likely is it that this is even a possibility? The two debts would include the last year and a half of my car loan (about $ 7500) and credit card debt. I would have a co-signer on the mortgage.

Best answer:

Answer by mar c
won’t happen,,,,and the person cosigning your loan would be a fool….



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Can I get a home mortgage for more than what is owed to consolidate debts?

Posted in Consolidate Debts on 06/12/2011 01:16 pm by


Question by Ron S: Can I get a home mortgage for more than what is owed to consolidate debts?
I’d like to buy a house for sale at $ 265,000. Appraisal is $ 320,000. Is it possible to get a loan for more than the purchase make (say $ 300k) to consolidate some debts at the same time?

Best answer:

Answer by Melissa
You cannot get cash out on a purchase. If the point of the cash break was to do mending or include closing costs, then there are lend which would allow this, but they do not allow liquidate out to consolidate debt.You can always refinance after you’ve lived in the home for awhile then get liquidate out to consolidate debt.



What do you think? Answer below!

 

How does China own our debt or loan that they can collect anytime on?

Posted in Economics on 09/18/2010 01:04 pm by
Stars and Stripes asked:


I was under the understanding that they own a large portion of our debt. And that China can call in on this note?

Thanks you guys for your time and patience. The media doesn’t quite give me the whole picture.
I understand now.

You guys are very competent in explaining.

Jeez, all that worry and concern for our country.
Sorry Darth, we are a very conservative family and are nearly done paying off our mortgage.
We are set with our retirement accounts and college for three teens are well on their way.
(The 15 year fixed)

Christine

 

Can a first time homebuyer with a lot of unsecured debt get a home loan to also cover the debt?

Posted in Credit on 07/03/2010 06:46 am by
Andre asked:


I have 30k in credit card debt. I was wondering if I could consolidate that into a mortgage. I have never applied for a home loan before. Have people done this in the past?

Ellen