07-Sep-2010
I’m a single mom my daughter will be 3 years old in Dec since she was born I open a saving account under her name and I make sure 0 go directly each month in it, is there a better way to start saving money for her college? I was not born here I really don’t know too much about things like that such as (bond or stock) whatever they have here. Please help me.
I also have a mortgage (that’s the only loan right now), is it better to pay more monthly than saving for college please?
Merci beaucoup!
04-Sep-2010
I currently make k a year. I have no debt, no car payments, no student loans. I have money saved for a down payment. What mortgage if any could i be approved for?
01-Sep-2010
Category : saving loan
no credit history? I have no debt at all and never have. I’ve always saved up and paid cash for everything including cars. I have owned two homes in the past but my name was not on the mortgage, only the title (Ex-wife had good credit and we got a better rate that way). Any ideas, especially in this economy? I make an above average salary, have a 20% downpayment ready, and have an above average amount in savings (IRA, Mutual Funds, etc…).
29-Aug-2010
Lets say you have 00 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?
29-Aug-2010
Cram down is when the a loan principal is reduced because of the value of the home is worth less than what is owed. The theory is that if a mortgage is foreclosed, the lender will only be able to sell the property for its value, if best. By using cram-down, home owners will pay a lower payment, saving their home.
29-Aug-2010
Lets say you have 00 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?
23-Aug-2010
I have excellent credit but several cr. cards with balances. I was thinking of taking a loan out against my vehicle in order to consolidate all into one payment being an installment loan. My total debt is 000, my vehicle is worth 000 and I have the title. I feel like it would be better to pay the cards completely off and just have my Mortgage and the Installment loan. What banks offer this? Any Suggestions?
18-Aug-2010
Category : saving loan
I heard from an ex-real estate agent (lost job due to economy) a cool trick but I cannot remember the details. I heard it about a year ago at my last job when he came to work with us. It went something like this:
Start off with an IO loan because it’s cheaper monthly to start. Instead of blowing the saving on other stuff, put it in a savings account. This way, your monthly expenses are the same as it would have been compared to a regular loan.
After some time, enough money is saved to pay off the principle, when it is due, from the savings account and have a lot of money left over from the savings interest. I believe that this was also supposed to shave about 10 years off of the 30yr mortgage.
Can anyone shine some light on this for me?
We all did business in southern California
18-Aug-2010
i’m learning that you should get a preapproval before you go the dealer. i’m buying a gmac car. we have our mortgage with them. should i get a preapproval online or should i just go into the dealer and let their finance department run my credit?
17-Aug-2010
I recently purchased my first home and will receive the 8k 1st time homeowner credit. My mortgage aside, I am looking to payoff some debt and would like some opinions. After my mortgage and personal expenses, I will have about 2k per month and a minimal amount of savings (2k), put most into home down payment. Here are my loans
4000 car loan @ 9.5%
3000 personal loan @ 6% (borrowed from 401k for downpayment)
2000 private student loan @ 5%
5000 private student loan @ 4.25%
25000 federal student loan @ 7%
zero credit card debt
I’m pretty sure about paying off the 4k car loan, but am hesitant about the 3k 401k loan until I have a bit more saving built up. I figured that I would chip away at the student loans down the road as the interest is a tax deduction. Is it better to pay off some of these debts or save? Plus I want to be prepared for anything that might come up with the house.
