Cindy16 asked:


I am looking into different mortgage.
Get very confused by so many different kinds of them.
What are the differences?

If we are planning to get a 300K mortgage, and planning to stay in the house for at least 5 years.
What mortgage might be good for us?

30yr fix
5/1
7/1
why there is 5/1 ARM?? What is the different between all these?

thank u

sammus asked:


I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I’ve been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months.
The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address.
I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don’t need to borrow to pay debts.

Garry C asked:


Does the person pay the mortgage balance to the bankruptcy court? Does the person have to find another lending company to take up the mortgage balance?

kmm asked:


I am trying to understand secure bonds and I know mortgage bonds are secured bonds,if that is the case,even if they default ,the investor should get the prinicipal back.Can someone give an explanation of this works.