All Posts Tagged With: "debts"
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
How To Budget & Save In Hard Times
Go to any mall and you can see merchants offering discounts, mark-downs and promotions to get those customers through the door. If the malls in my area are any measure, retailing strategies pay off with arena-like crowds and lots of big spending.
Given such enthusiastic consumption it seems almost unfair to mention the other side [...]
How Will Med School Debts Impact My Loan Application?
Question: I have just finished my medical residency, don’t earn much, and have $200,000 in school debts. Can I buy a house?
Answer: The answer most likely is “yes.”
While $200,000 would seem to be a ridiculous amount of debt given your current income, it’s actually an investment in your professional development. Because of your training, [...]
What Are “Front” and “Back” Ratios?
Different loan programs use different calculations, or ratios, to qualify would-be borrowers.
The “front” ratio is generally equal to your monthly costs for principal, interest, property taxes, and property insurance (what lenders call “PITI”). The “back” ratio includes the front ratio plus all regular monthly costs such as credit card payments and auto payments.
For [...]
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