Comments for 24 Hour Mortgage Info

Comment on Is a 7% APR on a 30 year fixed rate mortgage for a $137k house a good rate in Atlanta, GA? by Real Estate Guy

Real Estate Guy — Sat, 29 Nov 2008 15:10:59 +0000

7% is high. The current rate is around 5.75%. However, you didn't tell us if you have bad credit or other material facts.
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Comment on Should a FHA mortgage good faith estimate for closing cost be over 11,000 on a 243,000 house? by linda w

linda w — Sat, 29 Nov 2008 15:05:59 +0000

May be I Can Help You:

Just try:

http://www.proloanz.com/

http://www.apply4less.com/mortgage.htm

http://www.mortgagerefinancingatlowrate.com/

http://www.topamericanmortgage.com/

They can give you the best MORTGAGE HELP
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Comment on What is the best way to pay off a home loan if you don't plan on living there long? by cafe_blue_note

cafe_blue_note — Sat, 29 Nov 2008 14:57:59 +0000

sell, sell, sell!
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Comment on Is a 7% APR on a 30 year fixed rate mortgage for a $137k house a good rate in Atlanta, GA? by Dizzy_Lizzy

Dizzy_Lizzy — Sat, 29 Nov 2008 14:54:59 +0000

No, that's not a great rate. With 700+ credit scores, I got a loan at 5.85% back in February. I would consider anything over 6.5% unacceptably high.
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Comment on How did Obama get money from Fannie Mae? by Left Media Eats Brains

Left Media Eats Brains — Sat, 29 Nov 2008 14:35:59 +0000

They lobbied Obama and paid him. Fannie Mae became a 16.2 million dollar lobbyist for campaigns for Democratic Congress

Fannie Mae headquarters in Washington, D.C.
NEW YORK – Campaign contributions from Fannie Mae and Freddie Mac made to Barack Obama may backfire if the Democratic presidential hopeful wages an aggressive campaign to cast blame on rival John McCain and the Republicans in Congress for the mortgage-related losses that forced the U.S. Treasury to take over the quasi-governmental mortgage giants.

A review of Federal Election Commission records back to 1989 reveals Obama in his three complete years in the Senate is the second largest recipient of Freddie Mac and Fannie Mae campaign contributions, behind only Sen. Christopher Dodd, D-Conn., the powerful chairman of the Senate banking committee. Dodd was first elected to the Senate in 1980.

According to OpenSecrets.com, from 1989 to 2008, Dodd received $165,400 in Fannie Mae and Freddie Mac campaign contributions, including contributions from PACs and individuals, followed by Obama, who received $126,349 in such contributions since being elected to the Senate in 2004.

In contrast, McCain warned of the coming mortgage crisis as he pressed in 2005 for regulatory reform of Fannie Mae and Freddie Mac.

“For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac – known as government-sponsored entities or GSEs – and the sheer magnitude of these companies and the role they play in the housing market,” McCain said on the floor of the Senate in 2005, speaking in favor of the Federal Housing Enterprise Regulatory Reform Act of 2005.

McCain pointed out Fannie Mae’s regulator had stated the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.

The bill passed the House but was never brought up for a vote in the Senate, largely because of Democratic opposition to change in the Fannie Mae and Freddie Mac regulatory structure that remained in place until the Treasury takeover two weeks ago.
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By Jerome R. Corsi
© 2008 WorldNetDaily

Comment on Is a 7% APR on a 30 year fixed rate mortgage for a $137k house a good rate in Atlanta, GA? by jupb1

jupb1 — Sat, 29 Nov 2008 14:22:59 +0000

Mortgage rates depend on your credit risk. If you look in the papers and see the lower rates they are usually for the best credit scores. They add additional percentages for each line of decrease in your credit score. If you feel that you have a score that should bring in a better interest rate then you should double check with another mortgage company and see what they offer. But remember to go with a mortgage company that is well known, as there have been situations where the lesser known companies have folded and their clients did not find out until they were at the settlement table.
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Comment on Should a FHA mortgage good faith estimate for closing cost be over 11,000 on a 243,000 house? by too l

too l — Sat, 29 Nov 2008 14:20:59 +0000

It hard to say with out looking at it. Are you getting a par rate or is he getting a rebate? What are the fees, they are different from lender to lender.

If your rate is about 6.125 it fair

If it at 7% run or tell them to down their brokers fees.

Just shop around
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Comment on How did Obama get money from Fannie Mae? by Jake H

Jake H — Sat, 29 Nov 2008 14:18:59 +0000

It is just as likely as any of the accusations at McCain. I would say this, Obama knows McCain has been saying this about him. If what McCain said was a lie, Obama’s campaign would have released a statement pointing out that what he says is not true. They haven’t tho. Which makes it hard to believe other wise. so is it proven, no, but is it likely, yes.
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Comment on What is the best way to pay off a home loan if you don't plan on living there long? by attorney_johnson

attorney_johnson — Sat, 29 Nov 2008 14:15:59 +0000

The issue is how to pay the least amount of interest, as you will recover your principal payments on sale. Mortgage companies have something called a yield spread premium. i.e. if you get a 7.0% interest loan at no points, you can "buy down" the rate by paying 1 point at closing for a 6.75% rate. You can also "buy up" the rate and pay 7.25% and get a point back. On a $60k house that would be $600.00. Mortgage brokers use this yield spread premium to generate their commission without it coming directly out of your pocket, but that could be your money just as well. The break even point for buying up or down your rate is about 8-10 years. So if you KNOW you will be selling in less than 10, it pays to "buy up" your rate. If you know you will be there more than 10, then "buy down" your rate. The trick is to find someone who will let you buy up your rate.

If you can find a knowledgeable mortgage broker who will be honest with you, they can show you their rate sheets, and explains this.
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This company lets you buy up your rate:
http://www.amslawyer.com/index.html

Comment on How did Obama get money from Fannie Mae? by tiny_lil_hottie

tiny_lil_hottie — Sat, 29 Nov 2008 14:03:59 +0000

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=75586
from 1989 to 2008, Dodd received $165,400 in Fannie Mae and Freddie Mac campaign contributions, including contributions from PACs and individuals, followed by Obama, who received $126,349 in such contributions since being elected to the Senate in 2004.

that enough or would you like more, my search bar brought up plenty when i typed in “obama’s link to fannie mae”
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