Category archives for: Mortgage Q&A’s

Why was Obama suing banks to force them to give mortgages to people who didn’t qualify ?

How does Obama blame other people for the economic crisis when he personally helped to sue banks to force them to give mortgages to people he KNEW didn’t qualify and couldn’t pay them??? C­ase N­ame B­u­yck­s-Ro­­b­e­rso­­n v. Citib­ank­ Fe­d. Sav. B­ank­ Fair H­o­­u­sing/Le­nding/Insu­rance­ Do­­ck­e­t / Co­­u­rt 94 C 4094 ( N.D. Ill. ) FH­-IL-0011 State­/Te­rrito­­ry [...]

where can I find the mathematical computations for basic mortgages and home ownership?

Mortgages

I want to purchase a home, and have difficulty figuring out PMI, my monthly mortgage and additional fees. Can you show me where to find some basic info and/or training on how to best learn the basics? I need to learn to find out the bottom line thanks !

How did people have homes before banks invented mortgages for the sake of profit?

Mortgages

With a mortgage you don’t even own the house until 30 years later after you make all the principal and interest payments which means you end up paying double the original purchase price. There must be a better way than being a prisoner of the bank?

How many mortgages can I write the interest off of on my taxes?

In 2007, I paid interest on a construction loan, a mortgage and a loan on a RV. I’ve written off the interest on the RV loan in the past as I was told it is considered a second home. Can I write off the interest on all 3 or just 2? Other information Related Blogs [...]

How do interest only mortgages work and what is the catch?

have been quoted 7.25% on a 30-mortgage on a fixed rate basis. Also was quoted 6.375% on a 30-year interest only payment schedule. Although this reduces the monthly payment, how does this pay off a mortgage? Does this require additional payments to reduce the principal?

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