Mortgage Interest Rates Hit Another Low. Ilyce discussed this topic along with questions from other callers giving her personal finance advice and real estate advice on the Ilyce Glink Show October 2, 2011 on WSB Radio. I have said it before, and this week I said it again: mortgage interest rates hit another low. This [...]
Mortgage interest rates hit another low. Today's Economic News: Another crazy week for economic news. We saw our first report from the widely-respected Economic Cycle Research Institute that the economy may have technically gone into a recession last quarter (officially defined as two consecutive quarters of negative growth) or will this coming quarter (4Q2011). ECRI [...]
Q: For a brief moment in August 2009, my business just all but stopped. I’m an accountant and my clients had trouble paying their bills. I asked my lender for a loan modification. They said everything was great except I didn’t send a copy of my Social Security letter, which they never asked for it. [...]
Q: This past April my daughter and I entered into a contract with a law firm for a loan modification. We paid $3,500 up front and as of yet have gotten only "it's in the process." Or they're asking for documentation that we have already provided. At this point I believe we are the victim [...]
Q: I was trying to do a streamline refinance of my mortgage and was told that the lender can’t decrease the interest rate on my loan without changing the number of years left on my loan. I have never refinanced since I bought my home in 2004. My interest rate is 5.37 percent. Can you [...]
Q: I’m in loan modification hell. We supposedly "qualified" for the Making Home Affordable program, and our lender, Bank of America, gave us a new, modified payment. We supplied all the required documentation, etc, to our lender, and from what I have read everywhere, once you "qualify" and are given this new monthly payment, the [...]
If you've wondered how to catch up on your mortgage payments, this reader wants to know and wants to avoid foreclosure. Q: Unbeknownst to me my husband stopped paying our mortgage payments. When I found out, I called to find out how much of a payment I had to make to get caught up on [...]
Q: I know that you are used to people having problems with loan modifications, where the banks lose stuff. We have that problem with two different banks on the house that my sister and I inherited, although we’re not having trouble making the payments. The house has been put in our names and we notified [...]
Q: I heard you on WSB radio in Atlanta a couple of days ago speaking about qualifying for mortgage loan refinance programs. I have a mortgage with a six percent interest rate and a loan balance of about $200,000. I believe that my home will appraise at about around 400,000. Would I qualify for the [...]
Q: Is it worth refinancing my mortgage? Last September I tried to refinance my home with my lender. I had lost my current job and started running a small landscape business I previously had. The agent working with my lender told me about a loan product with no income verification. There was a problem with [...]
