All Posts Tagged With: "auto"
Standard & Poors Drops US Credit Rating
The credit rating of the United States of America has been reduced from AAA to AA+ by the Standard & Poors rating agency. In an historic development the willingness of the United States government to fulfill financial obligations has been called into question by a major ratings agency due to “political risks” and a “rising [...]
5Aug2011 | Peter G. Miller | 0 comments | Continued
Is it good not to pay your mortgage loan?
Is it a good thing if you don’t pay your mortgage? The usual answer is a fat “no” after which comes a discussion of foreclosures, diving credit scores, ugly credit reports, deficiency judgments, loan denials and higher interest costs for mortgage loans and automobile financing. And yet there’s a strange and somewhat logical theory floating [...]
25May2011 | Peter G. Miller | 1 comment | Continued
Can We Predict Mortgage Loan Walk-Aways?
It’s generally estimated that about a third of all mortgage foreclosures are simply voluntary, people who can afford their monthly payments but throw in the financial towel and make a strategic decision to walk away from their homes and loans. Now a new system says it can predict who will walk and who will stay. [...]
25Apr2011 | Peter G. Miller | 0 comments | Continued
What Paperwork Do You Need To Get A Mortgage?
One of the biggest problems with the government’s Making Home Affordable loan modification program is that a large number of borrowers are making their payments but do not provide required paperwork — and thus are unable to permanently refinance their mortgage with a new and lower rate. Because they did not provide required paperwork these [...]
1Feb2010 | Peter G. Miller | 0 comments | Continued
Looking Toward A Smaller Future
During the past few months oil prices have topped $140 per barrel, both a record and a sure sign of things to come. What’s coming? Little tiny cars that will change our homes, roads, and national priorities — cars we should have adopted years ago. Consider the streets of Rome, many of which are old, [...]
15Sep2008 | Peter G. Miller | 0 comments | Continued
Can Mortgage Lenders Ignore My Monthly Auto Costs?
Question: Is there any way that auto payments will not reduce my ability to qualify for a loan? Answer: Yes. You MUST tell lenders about all outstanding debt and payments. In the case of an auto loan or other installment debt, some loan programs will not count the debt against qualifying ratios if there are [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Can Car Payments Reduce My Home Buying Ability?
Generally, yes. However, under some loan program guidelines (but not all), if you have 6 to 10 remaining car payments, and if you have generally good credit, your auto debt will not be counted against you for qualification purposes. The logic is that the loan will be paid off not long after you move into [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
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