I heard about the new loan programs that allow home owners to refinance their mortgage to a lower interest, but those who qualify need a decent credit, certain income, and their homes need more equity than what they borrow. But what about those who are really suffering and have none of those above?

 

We bought a home in need of work and so needed a construction loan. It’s not one where we do some work, get some money, do more work, etc. We have the money to do what is needed – you just can’t get a conventional mortgage unless there is “no construction”. Work is going too [...]

 

I read that after 5 years the mortgage holder can raise the rate of the mortgage to the prevailing rate.

 

I am applying for a USDA Rural Development loan but I am through a temp agency for another month or 2. Will that be ok or will I have to be permanent to get the loan? My husband and I have had our house since June of 2008. We need to relocate and worry about [...]

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