Monthly Archives: December 2007

Home loans with low down payments require PMI insurance, so why are banks losing money on sub-prime mortgages?

Posted on December 27, 2007 by admin

cmsb705 asked: A home loan with less than 20% down requires PMI (Private Mortgage Insurance). Since most “sub-prime” mortgages would require PMI, why are banks losing so much money on these loans? Shouldn’t it be the insurance companies that lose … Continue reading →

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Is a home equity loan a good idea for financing my new business?

Posted on December 14, 2007 by admin

designtime asked: I am a web developer and am thinking about quitting my day job and starting my own company. I’ve got some clients lined up already but need some financing to pay for startup costs such as equipment, supplies, … Continue reading →

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Refinancing my mortgage and home equity loan?

Posted on December 8, 2007 by admin

shawnj985 asked: I have started the process of refinancing my home equity loan from 9% to a lower rate. It currently has a balance of $10K. I have also started the process of refinancing my home mortgage from 6.8 to … Continue reading →

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What are some of the lending banks that help with home loans and bad credit?

Posted on December 5, 2007 by admin

thomas p asked: I HAVE A LOW 500′S CREDIT SCORE, WE HAVE BEEN A STRUGGLING FAMILY FOR YEARS NOW, WE HAVE 7 KIDS AT HOME, 4 ARE FROM PREVIOUS MARRIAGES.WE ARE IN THE NEED OF OWNING OUR OWN HOME, IVE … Continue reading →

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