Archive for August 30th, 2010

If i own a house, with a lot next door with 2 seperate mortgage loans, how can i turn it into 1 payment?

Posted in Renting & Real Estate on 08/30/2010 07:47 pm by admin
2ManyQuestions asked:


I own a home, and i own the lot next door which has nothing built on it. They are both financed by different banks. I would like to get both of them and have 1 mortgage payment, like a re-fi for both of them in 1 note. I was told that i needed to re-plat my land in order for this to be possible. What suggestions do you have? I wanted to get money out of this to pay off debts that i have, but with the refi it problably wont be enough. if my home appraisal comes out higher than what i bought it for, should i sell it to my common law wife to get that extra cash?

Ann
 

Is it getting harder for people to get approved for a mortgage?

Posted in Renting & Real Estate on 08/30/2010 11:06 am by admin
$millmind$ asked:


I here that it is getting harder for people to qualify for a mortgage loan.That a lot of guidlines are getting tighter. Who now knows the real scoop on the mortgage industry. Who qualifies and who don’t? Is investment properties harder to get whats the deal. I believe people talk to much to scare consumers. If so I understand because there are lots of forclosures so banks are trying to avoid those deals. And bring more stable ones.

Ray