Related articles from Yahoo AnswersOpen Question: What's a good company to refinance my student loans with?
I'm looking for a reputable company that I can refinance my student loans with for 6% interest or less with no penalties for early repayment.
Open Question: Do refinancing help or hurt your credit?
I purchase a car in early August. I felt pressure to buy extra warranty and a gap for extra protection for my car. I was also told after 6 months I can bring my car back for a trade in, for the car I really wanted.. Now with the warranty and the gap it added about $65 more to my payment which is out of my budget. I already have two other trucks, paid in full and when I added the new car to my insurance it went up to almost $200 a month. The warranty and gap I was told I could drop it anytime, with the understanding it would drop my payment back to where it was before. Now I try to get it drop, and I am being told I have to have my car refinance again in order to bring my payment down. Now they also told me on the phone I would not have to come up with any addition down payment. If it was the Toyota car dealership who finance me. I like to know why couldn't they do the changes without the refinance? I did notice when I did finance my car it brought my score up some points. Do I get more points again or will I lose points on my credit score?I am trying to build up my credit scores not lose them. Thank you for your answers I do appreciate them.
Open Question: can you use one home appraisal for different loan companies to refinance?
We paid for a home appraisal for another lender and now we want to check our options. Can we use the same appraisal we already paid for with other lenders?
Open Question: High interest car loan: early payoff or refinance?
I bought a car in February of this year at an interest rate of about 20 percent because my credit was a mess. I have since graduated from college, gotten a real and have all my credit card bills paid. I can have the 48 month loan paid within one year (by Feb. 2008) because I've been paying literally three times the payment. My question is, should I pay it off early at a 20 percent rate or should I have my credit standing reevaluated and hopefully get a better rate? Obviously a better rate is ideal, but which option is a better way to build credit?
Open Question: Is there a place to refinance my car?
I need to refinance my car but I have bad credit what should I do
Open Question: Who do I complain to about shady dealings from our mortgage company?
Our loan was bought by HomEq after we refinanced. Like most of the time that a company buys your mortgage, we had no choice or say in who bought the loan. This is, as I understand it, normal practice.
We recently contacted HomEq about restructuring our ARM. This process should have been fairly quick as it was an adjustment not a refinance, however we were concerned about the time it was taking and that we might be late on a payment. We expressed this to a representative at HomEq, and were informed that they would place a "freeze" on our account and any missed payments would be rolled into the mortgage with no penalties.
The problem is now they have reported us to the credit bureaus as late. We have tried to resolve this with them but have hit walls and run-a-rounds. (We do have the date/time of the conversation and employee ID of the adviser that said that they would freeze the account.)
The question is what organizations are the most appropriate to report this too?
(Sorry about the length of the question, and wasn't sure of the exact section to post this to)
Thanks to all answers so far, I had not thought (obviously!) of either of those.
Open Question: What Should I do about my car?
I have a bad credit my car loan is about 18,000 for a 2005 altima. my car payment is 523, what can I do to lower my car payment. I have been denied for refinance because I am over on my car.
Open Question: Can i refinance my house with another bank,while i am in a foreclosure.?
I have money to reinstate my loan but i dont wnat to give it to this bank.They havent been that nice to me in the last couple of months.
Open Question: Will trying to renegotiate my mortgage rate with my bank hurt my credit score?
we have an ARM loan that is prohibitively expensive for our budget and since our appraised value is way underwater, we cannot get a refi. My original lender sold the loan and securitized it so refinancing, especially since we have a home equity line of credit that will not allow itself to be subordinated to another lender that refis the first mortgage only. I really want to tell the lender of our first mortgage that we're between a rock and a hard place and that if they dont play ball, we're going to walk away from the house. am i guaranteed to have a huge black mark on my credit score for just threatening this, or do i have to actually walk away from the house to have such a thing happen. thanks!
Open Question: My mortgage = InterestOnly/ARM - Smartest thing to do?
I have 8 years to go on my 10 year interest only period which ends in 2016. However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment). We're planning to be here no longer than about 7 more years anyway, then we plan to sell and leave the state (We're in Southern California)
If rates went up 2% or 3%, I could still make the payments comfortably come 2011 because I still won't have principle kicking in.
I owe almost exactly the same on my home as what I paid for it. (Prices went up a bit after I bought in the area and have come back down in the last 12 months.) We're saving money now to add an additional room/bedroom in 2011 if the rates are still reasonable and we don't need to use the saved cash to off-set higher payments.
I'm not in a position right now to throw 5%, 10% or 20% into a +$700K jumbo loan to refinance, which is what I'd have to do. So that's out. And not sure I want to do that anyway given that I don't plan to be in this home 20 years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about changing my mortgage?
Or is there something smarter to do?
Open Question: My Interest Only ARM - What's the smartest thing for me to do?
I have 8 years to go on my 10 year interest only period which ends in 2016. However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment). We're planning to be here no longer than about 7 more years anyway, then we plan to sell and leave the state (We're in Southern California)
If rates went up 2% or 3%, I could still make the payments comfortably come 2011 because I still won't have principle kicking in.
I owe almost exactly the same on my home as what I paid for it. (Prices went up a bit after I bought in the area and have come back down in the last 12 months.) We're saving money now to add an additional room/bedroom in 2011 if the rates are still reasonable and we don't need to use the saved cash to off-set higher payments.
I'm not in a position right now to throw 5%, 10% or 20% into a +$700K jumbo loan to refinance, which is what I'd have to do. So that's out. And not sure I want to do that anyway given that I don't plan to be in this home 20 years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about changing my mortgage?
Or is there something smarter to do?
Open Question: Why is a refinanced home different than original mortgage ?
I refinanced last year to keep from losing the home..I am in Fl..I want to sell it but the realestate agents want so much..I would make NO profit..can I do it myself safely?I only want out at this point..from another answer I understand if its refinanced .they can even come after my Bank Account,,,
Open Question: How do I know if my extra money is going toward principal?
I bought an 07 corolla in January 08' used. I always hear people talking about refinancing and paying more on monthly notes (to pay it off quicker) but also about principal and interest. If I were to pay more, how do I know it's going to the principal and not interest? What about refinancing, when should I do that...should I do it at all? I have asked some friends for advice...I am trying to get as much info as possible...so I can make the right move!! Thanks so much for your time and info.
Open Question: International/Foreign Banks Refinance 3%?
I heard that some international banks refinance as low as 3% interest for US homes. If this is true where do I find a bank? I saw broker sites but they didn't disclose the interest rates.
Open Question: If my husband co-owns a house with his mother, are there special requirements for us to buy our own home?
My husband helped his mom out when she wanted to refinance her house but couldn't qualify on her own. His name was put on the title, deed, and insurance policy for the house. We currently live in that house with her, but I am dying to get out of there. We want to buy a house of our own, but I am concerned that when buying our house that it will be considered a second home and the qualifying guidelines will make it harder to qualify. I think I read somewhere that in order to qualify for a second home, you have to have 6 months of payments for both homes in the bank. Will our first home be considered a second home for qualifying purposes?
Open Question: Is there a Toyota dealer that would accept trade-ins?
I have a Toyota Matrix 2006 XR and I want to upgrade to the new 2009 base model. I'm still paying for the old matrix, would they let me me do the upgrade and then refinance it to a new contract? Please let me know. Thanks
Open Question: Mortgage loan not going well, please advise!?
My ex is keeping our house, and was told by the bank that he could not refinance the 1st and 2nd (18k) loans solely under his name until we were officially divorced. We (well, he, but I'm helping) continued the process, the house didn't appraise for the amount we had hoped for (actually, the first loan rep we spoke to suggested putting it at almost $40k more than we originally paid for in 2006).
Due to his now single income, we were told he could not refinance both loans under his name. The 1st one would be refinanced, but the second one, the bank would subordinate (still keeping me in the 2nd one). We were reassured all was well, we just needed to be divorced (finalized last week), and then we could set up the closing date.
Now, 10 business days prior to the locked-in rate expires, we are being told that the 2nd loan cannot be subordinated, so he has to bring "around" $16,000 to the closing or they cannot proceed. I'm thinking they knew this all along, and I had a bad feeling when the loan processor was avoiding answering my questions on the actual closing date, and when my ex should start paying directly to this lender (as opposed to Chase, with which we still have the 2 loans)...
Is this, then, a form of bait & switch, or plain bad business?
Orange County Sheriff: Hi, actually, we had had the appraisal done in July, so all the information was already in. The loan processor had also said we just needed to get the divorce decree, and then proceed with the closing.
Open Question: Can a person purchase a home for more than its worth?
My parents have a loan for $489K and the house is now worth $389K. In 2010, they have ARM that will adjust from the fixed rate they are at now. They will not be able to afford those payments can they refinance to a fixed but not show documentation for income or can my sister purchases the home for a higher value than the house is worth. Would it be better to short sale the house. Are there any options???
Open Question: should i consolidate another loan into my auto refinance loan?
i am refinancing my current auto loan. i have a lot of equity in my car, so i was told that if i wanted to, i had the option of using that equity in my car to pay off a current student loan and consolidate it into one with one interest rate. my student loan amount is around $7,000 with 12.5% interest. the interest rate is lower on the auto refinance loan, and i would have it payed off in a shorter period, plus it's a fixed rate so i am guaranteed it won't raise over time. my question is, would it be a smart decision on my part to use the equity in my car to do this? it sounds a lot better to me having the lower interest and having this paid off in 4 years rather than the 10 more i have to pay on it, but i'm really unsure which move to make. someone out there that is smart in this kind of thing please give me some input on the advantages, or disadvantages to using my equity for this. thanks in advance!
Open Question: I owe 345,000 on my house 8.0% it's only Worth 300,000 on the market I cant refinance my payments to high ?
What do I do
Open Question: mortgage,loan,loans,home mortgage,refinance,home refinancing,mortgage loans,mortgage refinancing,refinancing?
In Loom of the Fannie/Freddy Bailout, why doesnt anyone in big media bring up the the fact that most loan officers were instructed to use websites like http://www.FAKEPAYCHECKSTUBS.com (creating documentation that never existed) to help the loan qualify through every step of the pipeline, to collect the 6 percent commission they make on EVERY deal - is it any wonder why the economy and the worlds banking system is where it is at today?
Open Question: How can I get my ex-fiance to refinance?
Ugh, I am so frustrated!! My ex-fiance and I split 2 years ago. We had a home together with both of our names on the loan and title. When we split we agreed not to sell because he was going to live there and refinance within a few months. Well, it then turned into 6 months, a year, and now going on two years.
He has so many excuses as to why he won't do it. His main one is that he will not take anything less than the rate he has now (a good rate due to first time homebuyers and goverment assistance). He makes a very good amount of money where both he and his wife work, but he is just stubborn beyond belief.
We have both married since then and I have been trying since day one to get him to get in gear.
So, basically he has recently told me that he isn't going to do anything anytime soon. I am in so much debt on my own right now that all I can think of is bankruptcy. I've tried for 2 years to get a consolidation loan and all the companies have told me I can't aquire one due to the mortgage partly in my name. I just want to scream!!! Any advice out there?!
Open Question: What Companies Offer Lender Paid Mortgage Insurance Programs?
Please provide links to companies that offer Lender Paid Mortgage Insurance Programs, also known as LPMI. This is because I am trying to refinance my house and don't want to pay Private Mortgage Insurance.
Resolved Question: What does car mileage have to do with refinancing decision?
I tried to refinance my 2003 Nissan Altima after paying 15 months on time. I started the loan at $10,000 and my balance as of now is $6123. They rejected my refinancing because my mileage was 115,000. What does that have to do with the decision of refinancing?? I showed that I can make payments on time.
Open Question: What is the best way to get approved for a car loan?
I have bad credit. I currently have a car loan and a co-signer on the loan. I need to take her off the loan now, and HSBC doesnt allow you to refinance, so i have to apply for a whole new loan with someone. I already tried with Scotiabank and got denied. Any suggestions?
Open Question: Get answers from millions of real people.?
My boyfriend and I are interested in refinancing his home and adding my name to the mortgage. I have recently been informed that since my name is not on the title to the home and we are not married, we can not refinance with both names.(something to do with the state laws). Is this true? He bought the home 2 years ago in only his name. I have been told that my name needs to be on the title for 6 months before we can refinance, adding my name.
Open Question: I took out a secured loan using my car as collateral, but I dont like the interest rate.?
Can I get a lower interest rate by taking out an auto refinance loan at another institution? Credit worthiness is not a issue, im just not sure if the logistics of this type of loan change will work. Thanks!
The question is: Can I change a loan by transferring a secured loan that uses my car as collateral by obtaining an auto refinance loan on the vehicle. It technically isnt an auto loan to begin with, it is a secured loan. That is why Im wondering if it can be done this way.
Thanks
Open Question: should i keep renting out or sell or walk away from condo?
I bought a 1 bed condo in san francisco in 2005. I envisioned staying in it for 10 yrs. Until I met my now wife. The condo is small, 600sq ft. We bought a bigger place and I now rent out the condo. The rent falls short about $400 a month of my mortgage hoa etc. I payed 400k in 05. Now I think its 380k?. Should I continue to rent it out, or walk away? I have not refinanced it. There is also a 14k "special assessment"
Am i able to walk away from a loan that has not been refinanced?
i still owe 400k. (currently 100% financing)
Open Question: Which bank is the best bank to refinance my car i am in illinois?
i also owe my credit card some money can i consolidate my credit card
Open Question: How can I refinance my car loan and get away from Consumer Portfolio Services???
So here's my situation...
I have a 2005 Chevy Malibu that I financed from Consumer Portfolio Services (afterwards refered to as CPS) beginning in May of 2007. This is mostly becasue of getting in an accident which totalled the car that I had the previous October. I knew that my credit wasn't the best with having a lot of student loans and working a job that wasn't giving me consistant hours, leaving Sallie Mae to drag my credit through the mud (but that neither here or there).
Anyway, back to CPS. I lost my job back in April of this year and quickly got another job and am working on getting promoted. However with trying to work with CPS, they have been nothing short of terrible. They gave me 1 deferment where they were supposed to change my due date and defer a payment, but only did the latter forcing me to pay $1200 to get current again (so they lied to me). After getting another job, I started paying again, but can't make the due date they set for me every month. I have tried to reach them to work something out, which I talked to one person 2 weeks ago, and since then their line is always busy, or disconected, or their call center is closed (I almost feel like I'm the one they owe money to and their ducking and dodging me).
What I'm looking for is somebody that will be able to refinance my car loan and get me away from these people. Even if I have to pay out longer for my car at a lower price, I pay $390 now so I'd rather have a payment book (something CPS doesn't offer) and people that I can reach when I need to, than these people that I can never seem to reach or call back.
Also legitimate answers only, don't need any bs about being irresponsible or my having bad credit.
Resolved Question: is getting a personal loan from the bank to buy a car better than financing a car loan thru the bank?
i want to refinance my vehicle but am unsure if i should get a personal loan to pay the car off, and just pay the loan back to the bank
Open Question: Need a loan to refinance mobilehome,purchase land with a poor credit score?
My husband and I make 80,000 a year. But our credit score is near 500. No matter what we do. We cant seem to bring it up. We are owner financing the home we live in and have perfect payinh history with them. But it is not reported to a credit agency. I have tryed many companies over the years and turned down every time. We need someone to take a chance with us.
Open Question: Can I refinance and get lower rates, with cash-out if possible.Credit is bad?
a broker-lender with no out of pocket costs to me. asap. I want a FHA loan,lower rate then (9%) 30yr fixed rate and any fees due will be paid from the loan. If there is any way to cash out also and how soon can this be done?
Open Question: What are the cons of letting your property go?
I own a condo and am unable to refinance due to the high monthly payments that I will end up with (I am on an adjustable right now). My condo is on the market (maybe less than 2 weeks). Well we seen a house that we are very interested in and were thinking to buy it and let the condo go. Any advice???
If we do this my name will not be on the loan for the house that we are interested in (it'll be on my bf's name). The condo is only in my name. So would this be a good solution let the condo go so we can get a house?
Open Question: Do you think adversity makes for tougher, more independent women?
After answering a question about traditional women who are helpless after the breakup of a marriage, it got me thinking. The 50s and 60s were boom times economically. It produced a lot of dependent women, largely because they were able to stay at home. Come the 70s, we saw the advent of feminism. This was the era of inflation, war in Vietnam, gas lines, recession, and the onus was on women to help support the family.
My grandmothers brought families through the Great Depression. They were the toughest, most capable women you'd ever meet. If they didn't understand exactly how a refinancing worked, they sit down with all the paperwork and damn well learn it. By next Tuesday, they knew more about it than you. Neither woman would have recognized the word "feminist," but if you made a sexist comment around either of them, they would have torn a strip off you.
Prior to that, we had the industrial revolution (boom time) which saw women observing highly repressed roles.
Do you think tough times makes for more independent and rights-conscious women?
Resolved Question: Getting into Cornell?
Ok, I'm a sophomore in high school and recently have started planning getting into college. I looked up Cornell and fell in love with the school. But because it's an Ivy there's no way my family can pay for it. We aren't poor poor, but my parents are about $120K in deb because of credit cards and stuff. They just refinanced the house to help with that, but point is we have no money to send me to an Ivy League. So what I'm asking is how can I financially go to Cornell and what it actually takes to get in.
Thanks
Open Question: Problem with my ex's mother in law and trying to file a false police repor?
Ok here it is my husband and his ex wife had divided their property in the divorce decree and he was awarded one of the cars and was to refinance the car and finish the payments. He did that put their was one problem his ex's mom and his ex are the ones on the title of the car when we sent the title to them to sign over he received a nasty letter from her mom saying she will not sign the titile until he gives her money. My husband payed 95% of the car payments so rightfully the car is his and he has a legal document showing that. Well just the other day he called her on the phone and told her that if she wants 50% of the car then she owes him x amount of money and she told him she doesn't owe him a dime that the over $10,000 he paid on the car meant he was just borrowing the car. First please somebody tell me how is that even possible. Second now she is threating to file a police report and say the car is stolen if he doesn't pay her over $2,000. Oh and she is threatening to send her boyfriend down here to pick up the car in about two weeks. My husband and I had given the car to his mom as a gift since it is rightfully his but his ex mother in law doesn't know that. Can anybody help us it is a living nightmare with this whole situation his ex's mom has no right to withold th title and report it stolen when she knows darn well that it is not stolen. Anybody who can help or give us some advice I would really appreciate it. Thank you!!!
Open Question: My home is not financed, but can I get a mortgage against it as a loan?
I've lived in a co-op for over 20 years. Recently, the HUD loan was paid off for this property. Now, we have converted to market rate condos, and we can sell our unit for whatever the market will bear.
I could really use a loan for paying down debt I've aquired over the years, and for home improvement as well. Would it be possible for me to obtain a mortgage for maybe half of what my unit is worth ($20,000-25,000), and like buy it from MYSELF, so I can keep the place I live in, and also have money to payoff some high interest loans and credit cards? It'd be like a refinance, but I am basically not financed at the moment. Others here have sold to real estate offices, and other buyers. I am just interested in getting some equity out of my unit for now. I am ready to move immediately forward if this, if this is a possibility. What do you all think? Possible, or IMpossible?
Resolved Question: Is it worth it for me to refinance my car?
Here's the deal. I have a 2006 Kia Sedona that I owe about $12,000 on The payments right now are $278/mo at 7.99% for four more years. I started paying $300/mo last month and can comfortably do that for the remainder of the loan. My question is this. I got an offer to refinance at 6.36% for 36 months. By my calculations the payments would be about $350-$375?? Now, is it better to keep the first loan, make the higher payments on THAT loan (pay $350/mo) at 7.99% paying off principal faster or better to take the second loan.
Second question...which might cancel out my first question...I AM upside down by about $3,000. Will they not refinance? I thought they said the would refinance up to 150% of the value of the car. (I could be completely wrong, however!!
Thanks for your help....
I have plenty of savings to pay fee's but wouldn't it be smarter to pay that into the original loan? Or would I save it in the end? I just want to get the darn thing paid off!!
Voting Question: I have a motorcycle loan that is now in repo. How do I get another loan or refinance to pay off this loan?
Voting Question: What should I do about our quick claim deed situation?
My wife's ex signed the quick claim deed removing his rights from the home that both of them are on the loan for. The house is up for sale with a real estate company with only my wife on the agreement because they have a copy of the deed. We are about to go to mediation for child custody and possibly court if that proves to be not useful. So the situation is: right now my wife and i are paying the loan, plus our rent and the good: He gets nothing when it sales and in the mean time he can't purchase a home because he's still on the house because we haven't refinanced, The Bad: He's getting good credit from us paying the mortgage on time, after he's really hurt my wife's credit from a truck he didn't keep up with on the payments. What would you do? We're wanting it sold and don't want to refinance but I thought I'd ask someone (like you) who may know more about these deeds and if there's something I should consider or maybe hadn't thought of yet. Thanks!
Well, the reason I even mention that I like the fact that he can't buy a house as long as he's on the mortgage is because he's going to be paying up to $400 a month for child support and we don't want to hurt him. He has seen his son 5 times this year and it's August! He picks him up for 6 hours max. When he got served the papers he was more concerned about having to pay child support than resolving and trying to negotiate, that's what mediation is about. My question is more along the lines of: I hate small print info that I may overlook, without refinancing, if he stays on the loan...and we sell, are we still ok to sale the house? Is everything ok, I just want to not be caught off guard and be surprised because I haven't thought of everything or missed something. So to those of you who think we're being vindictave sorry if I didn't clarify what I was asking and hope this helps.
yes i did mean quit claim deed sorry i was thinking faster than typing.
Voting Question: Will this hurt my credit??????
We recently applied for a loan to refinance our home. We both have Excellent credit but the loan was denied due to the Real Estate Appraisal coming in to low. Will this effect my credit?
Voting Question: I am looking to consolidate debt without refinancing? Can I borow against my term life ins. policy?
Voting Question: Should I refinance early or wait?
My 2yr arm is ends in December? Can I refianance now? And If I do refinance now will I get penalyzed for doing it before December?
Open Question: Looking for an angel investor for business loan or refinancing house? Anybody know who would be able to help?
I have a car dealership and we have been financing alot out of our own money that we got a little behind. Have excellent credit score and have a 170k house that we owe 79k on it but banks don't want to finance since we have a floor plan to buy vehicles. I would like to see if there is an angel investor that would be able to help out even if its to refinance the house to catch up with what we are behind. 50k - 70k is what I would be needing to get back on track. I receive around 12k a month and have financed around 160k for the next 3 years. We have tax returns with about 60k of what we made. If someone that knows an angel investor or if you are one it would be great. Thank you.
Voting Question: Getting CMHC Approval?
We have been approved for a refinance with our current bank that we have our mortgage with. It is now up to getting CMHC approval for it to go through. Our mortgage broker is hoping it will go through without an appraisal as credit, etc. is good.
If a bank has approved does CMHC usually go though? Do they usually request an appraisal?
Resolved Question: How do I go about enforcing a decree w/o an attorney, in TX?
When I was married I was a stay-home mom/military wife. Because of his credit, me and my husband put everything in my name (5 credit cards, vehicles, etc). In the decree I put that he was ordered to pay 2 of the credit cards and refinance the truck into his name ASAP. I gave him 18months to pay off credit cards. He now lives out-of-state, is remarried, and has two more kids by 2 different mothers. He refuses to pay any of the debt, and the 18months is up next month. I have very (no) money to spend on an attorney and need some overall advise. If anyone has any suggestions relating to any of this, it would be greatly appreciated. Thanks!
Voting Question: In a divorce, the ex wife was court ordered to get the husbands name off of her car loan?
The ex wife has messed up the ex husbands credit because she doesn't make her car payments on time. It is a court order for her to take his name off of this but since the bank won't refinance her because she doesn't make payments on time, what , if anything can be done about this ? Ha sanyone else had this happen to them and if so could you share your experience ? Thanks very much.
Resolved Question: What are the drawbacks to refinancing my car?
I'd like to lower my monthly payments basically.
Voting Question: How do you refinance a vehicle?
Let's say you want to take over some payments on someones vehicle.
Your credit is also in the dump.
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