Posts Tagged ‘mortgage payment’

Why don't Free Market Principles work when creditors give out loans for students and payday loans?

Thursday, March 11th, 2010

For instance, private creditors will give out student loans at obscenely high compounded interest so the poor student will be stuck with debts for many years.

Similarly, when the working poor and lower-middle class need a paycheck advance, some shops and creditors will offer loans with immense interest rates, too.

But according to the Free Market, competition amongst creditors should mean that the creditor offering the lowest interest rate GETS most of the customers.

Why doesn’t it work that way?
If I were a creditor and I offered students a 1%-interest student loan (but everyone else was offering students 5%-interest loans), technically I should be flooded with students trying to get money from me!
@ SDD: But WHY?
Don’t free-market principles state that if the supply were to increase (i.e., lower-interest loans), there’ll be a corresponding demand to match it?

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How do you find various characteristics of a mortgage?

Tuesday, December 22nd, 2009

I need to know how to calculate the value of a mortgage from the asking price when you pay a 15% down payment. I also need to know, given a 3.5%/year interest rate over 15 years, how to calculate the equivalent interest rate per month and the monthly mortgage payment

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As a full time student, how can I take advantage of Obama's stimulate plan to lower my mortgage payment.?

Tuesday, October 13th, 2009

I was working full time for about 5 yrs, during that time, I purchased a house with no problem to make monthly mortgage payment (30yrs fix).
But I went back to school last fall as a full time student, living off standford loan and 20hrs work-study at school. Just wondering:
(1) is there any stimulate plan offering mortgage payment relief for people like me?
(2) if not, how can I have a cheaper monthly payment?
Thanks alot!
My current rate is 6.32, 30fixed.
Yes, I have tried to refinance when my ex-mortgage officer offered me a 4.25 rate on 30fixed rate, but when she found out I lost my full-time employee status/income, she said the new loan wont be approved. (despite i have an excellent credit score). Therefore I am here to see are there any refinance methods benefit people like me.

What is an ideal mortgage payment for a starter home in Sugar Land, TX?

Saturday, October 10th, 2009

Presuming the couple has no kids, earn a combined 80,000, and only has bills like school loans, car insurance, and daily living expenses of about 0/monthly.

You don’t have to factor in this information. You can state what you want based on what you believe is an ideal mortgage payment. Just need a clue. We would like a brand new home ideally between 0-250k.

Please share any info. you may have.

Thanks