Home Mortgage Funding
We have all had questions on Home Mortgage Funding before. Below are the top questions posed by visitors just like you to our. We hope our answers located below will help you solve your funding problems today. Feel free to ask another question, or even comment on what has been written.
There has been a lot of debate recently regarding Home Mortgage Funding, and it is therefore critical for you, the reader, to grab all of the information that is out there on the vast topic of funding. Your funding can have a huge impact on your future, so don’t procrastinate any longer. Read up on Home Mortgage Funding today!
Vivian Said:
Does anyone know if the VA Funding Fee (mortgage insurance) is tax deductible?We Answered:
If this fee is listed on a separate line of your 1098 Mortgage interest statement then yes it should be.Most likely, however, it is not.
Lynn Said:
2nd mortgage financed with SouthStar Funding LLC the same day they closed?We Answered:
You signed a note for payment of the 2nd mortgage. Someone is going to want to get paid for it. I'd call the 1st holder and ask them about the payment coupon or statement before anything else.Jorge Said:
Has anyone used Premier Mortgage Funding for a home loan?We Answered:
I know that some guy seriously spams around here and offers to get illegal loans for people.I would not trust them based on the spamming.
Later....
I looked into this for you. The owner of this company, in Ohio, is involved with identity theft charges.
Here are a scam warning report about Premier Mortgage Funding:
The owner of this company hires loan officers and mortgage brokers who commit fraud. They do not work for the consumer as they have advertised in the Akron Beacon Journal. The mortgage broker in question, Trevor Renner, is employed by yet ANOTHER mortgage company, Premiere Mortgage Funding. Check out the Summit County Ohio Clerk Of Courts to see what these people have done to the consumer! Don Koncz, the owner of CJ Mortgage hired an UNLICENSED mortgage broker and a victim has won in a court of law against CJ Mortgage. I am a victim of this fraudulent company myself. The loan officer who works there, I will provide names at a later date, stole MY identity and committed crimes here in Ohio for which I am pursuing justice.
This fraud is a precurser to the the fraud that is being committed by the mortgage servicing industry. I will have more information on the abusive practices of other mortgage broker companies for this forum very soon.
Clinton Said:
Getting a mortgage even if you have enough funds to buy home directly?We Answered:
Pay cash for the house and save yourself a few thousand in closing costs. After closing open up a home equity line of credit at no cost and borrow against it as needed to provide your tax shelter.Tamara Said:
What is the difference between a mortgage and a home equity loan?We Answered:
Just the packaging of the financial product. Once upon a time Home Equity Loans were called 2nd mortgages. The real difference is risk factor for the bank. Typically Home Equity Loans are 2nd to be paid in the event of a foreclosure or other bad financial happening - leaving them exposed if there wans't any many for them at the end of the day. So they charge you a bit more interest to compensate for this additional risk. Since you would be leveraging your house for the 1st time again, and the holder of this new "note" would be the only creditor and thus 1st in line for payment in the event of default, lenders may negotiate a little and get you a better rate.Its probably something you should take to a local bank or branch where you can work with a real person. I wouldn't advise trying to work this deal through an online lender.