All Posts Tagged With: "car"
How Jobs at 75 Cents an Hour are Killing US Real Estate
I’m not sure what pills are used to treat depression, but they ought to be available to real estate buyers and sellers by the bucket. Real estate folks need such pharmaceutical assistance because for the past five years the news has been dominated by the worst financial conditions since the Great Depression, a time which [...]
29Jun2011 | 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
Is It Better To Own Or Lease A Car For Mortgage Qualifying?
Having title to a car means you have an asset, an addition to your net worth once all financing is paid. Having a lease means having a debt that must be considered when a lender looks at your financial ability. Lenders must also consider what is likely to happen when the lease is up. The [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
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