Archive for March, 2010

Open Question: so i really need a car so i can travel to school and back…? March 31st, 2010

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but the thing is.. i dont have any money..
im 18, no1 will hire me, i need a car for college, and for future work, my parents helped 5 of my brothers and sisters out but no1 will help me..
so im trying to come up with ways to get money for a car..
yea yeah.. i know, ” GET A JOB” but.. its hard ive applied everywherreee and no1 seems to like my resume, people are looking for experienced workers, yet, no1 hires any1 whos not 18, so.. i dont get it.. anyways.. i dont live at home with my rents anymore.. is there any other way that i could get a loan or something to pay for a car? please helpp!

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Open Question: Can a homeowner lose their house if they can’t pay their 2nd mortgage? March 31st, 2010

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I can pay my first, but my second is at 10.50% (purchase 2nd heloc – took it out same time took out the 1st when purchasing the house so it’s not a loan I got later to use as a cash for home improvement or whatever).

My credit is poor so I can’t qualify to refi. I don’t have the $1100/month to pay for the 2nd any more due to loss of income, with a balance of $109,800. Lender is BofA, and this is in CA. Any idea what will happen? Will they put me in foreclosure? It is an investment property so I don’t think I can qualify for any of the modification programs. Should I might as well stop paying the 1st too if not paying the 2nd results in foreclosure?
both the 1st and 2nd are with the same lender. Balance on first is 850K, 2nd is about 110K, and the house is worth about 800K today (was purchased for 1.2mil)

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Mortgage Refinance Rates Below 4% Today — Do Bank of America, Chase, or … – Mindful Money Matters March 31st, 2010

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CBC.ca

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Mortgage Relief: Stay Afloat With Low Refi Rates, Says Informa Research Services – MarketWatch (press release) March 31st, 2010

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Mortgage Relief: Stay Afloat With Low Refi Rates, Says Informa Research Services
MarketWatch (press release)
Although the national average rate on a 30-year fixed mortgage jumped from 5.11% to 5.22% (Source: Informa Research Services' Interest Rate Review),

and more »

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U.S. mortgage applications rise – Investor’s Business Daily March 31st, 2010

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TopNews United States
U.S. mortgage applications rise
Investor’s Business Daily
The Mortgage Bankers Assoc.'s applications index rose 1.3% in the week ended March 26. The purchase gauge rose 6.8% to the highest level since Oct. as
US MBA Mortgage Applications Index Rose 1.3% Last WeekBusinessWeek
Mortgage Applications Increase as Purchase Activity SoarsDSNews.com
Weakness Persists in Commercial Mortgage Market Even as Tenants Look to BuyHousing Wire
TopNews United States -RTT News -UPI.com
all 46 news articles »

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Open Question: should I drive to university everyday from home, live on campus, or get an apartment? March 31st, 2010

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If I drive the most i would spend on gas would be 3 grand because it is only a 45 min drive to the university from my house or should I live on campus which is 9 grand for food & your room, or try to look for an apartment for less than living on campus costs?

I already have 7 grand from community college on my loan so I hate to spend 9 grand plus tuition in loans but driving could be a challenge if it snows…. What should I do?

are professors pretty good if you miss some class because of bad weather like its snowinf too hard for me to drive to the university?

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Open Question: I am wanting to get approved for a loan for a 300k house, but not sure what exactly to do.? March 31st, 2010

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I’m a 1st time home buyer and not sure how the interest rates are right now. I understand you can go to a lender or a mortgage broker, but not really ha.

If I make 50 thousand salary right now would I be approved for a loan of 300k?

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Mortgage-Bond Yield Spreads Jump as Fed Exits Market – BusinessWeek March 31st, 2010

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Reuters
Mortgage-Bond Yield Spreads Jump as Fed Exits Market
BusinessWeek
March 31 (Bloomberg) — Yields on Fannie Mae and Freddie Mac mortgage securities jumped by the most relative to benchmark rates in five weeks
Mortgage Bonds Present New RisksNew York Times (blog)
Sell-off after Fed's mortgage program ends? Not to worryReuters
Freddie's Not Afraid Of Post-Fed Mortgage-Backed MarketForbes
Wall Street Journal (blog) -Atlantic Online -DSNews.com
all 166 news articles »

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Sector Snap: Mortgage insurers surge on data – BusinessWeek March 31st, 2010

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Sector Snap: Mortgage insurers surge on data
BusinessWeek
Shares of mortgage insurers surged to new 52-week highs Wednesday as a trade group said in a monthly report that for the first time in four years,
Mortgage insurers surge as home-loan defaults dropMarketWatch
Traders Flock to Insurers as Defaults FallWall Street Journal
Shares of Mortgage and Bond Insurers Continue to RallyWall Street Pit (blog)
Emailwire (press release) (blog) -Oakland Tribune -Financial Times
all 45 news articles »

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Open Question: Should I finish College? March 31st, 2010

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I am 24 and have a 4 year old daughter. When she was a baby, I started school with a university of Phoenix school. I stopped about half way through my associates in business. I owe about $10000 in student loans now, with only some college credit. I am thinking about finishing college but am not sure because of the circumstances.

If I go back to that school I can do school from home and be with my daughter and will not impose of my work schedule ( I work 2 jobs, 7 days a week) BUT I will be another $10000 in debt….

I just don’t know if I should do it.
Any suggestions would be great

Thank you

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