Cheetah asked:


what does points mean when you r getting home mortgage loan, what is a good closing cost for a home value 190k ? first time home buyer some smartee please make decission for my next 30y planning..
who normaly pays closing cost?

Cindy

bhs6565 asked:


When I got the home equity loan 4 yrs ago it was for 20% over the value of the home and I used not deduct the intrest from the loan on my taxes. In the last 4 yrs the home value has gone up and both my mortgage and equity loan have gone down. I am below the value the home now and was wondering if I can now deduct the interst from my taxes. My last apprasial 5yrs ago is for about what the loans are for, but I am doing a refi and getting a new apprasal this month which will be for much more then the current loans are. In other words can I use this appraisal this month as proof that the loans are less then the value of the home for the 2007 tax period.

Erin

Tacity asked:


My husband and I are in our 30s. We have a mortgage that is unbearable but we have manage to make the payment for the three years that we have had the home on-time. Our employment status has changed and my husband is the only one working. Our home value is less than the balance we have. We have good credit. Is there a loan program that can help us reduce our payment/rate? Our rate is currently at 11%. Are there any programs for minorities? Lastly, our mortgage is with HFC and they are dissolving but there mother company is HSBC. I called them re: the President’s Home Affordability Plan that was announced on 3/2/09. Per the website, I should qualify, but HFC said that they did not have any info on this yet and I would have to wait but it looks like I would not qualify. That does not seem right.
I hope this makes sense.
I would greatly appreciate some real help.
we purchased the house for 143,900 now the house is worth 135,000 and our loan balance is 151,000.

ARMAND