Corrie P asked:


I am looking at a new house. I can afford to borrow $200,000 if I blend and extend my current mortgage for 25 years. I have already been pre approved.
If I stretched the payment terms to 40 years, would I be allowed to borrow more money? As in $250,000?
Or would I just be able to borrow the original 200 thousand with a lower payment?
Silly I know, but I just don’t know the answer.
Thanks!

Shadow asked:


It seems like my lender doesn’t want anything with me right now. I’m in good standing I always pay my mortgage but now my wife lost her job and I’m trying to cut on everything but my mortgage seems not to care so should I get their attention by not paying for a couple of months?
I’ve tried with other lenders and they all tell me to talk to my mortgagee which they don’t seem to care. My credit is Fair.

Erik asked:


I can afford the 30 year fixed regular mortgage, but I’m considering getting a mortgage that is interest only for the first 10 years to save about $350/month. I have other student loan debt that is costing about 9%, while the mortgage would cost about 6.5%……I could apply the additional $350/month towards the higher interest rate debt. Thoughts?

Ashley asked:


With PMI insurance, and a home in foreclosure and already sold…I have heard that the insurance covers the mortgage that fell delinquent. Is this true? I haven’t heard from the bank and I would think that after so long, they would try to find me for payment. Please help with anything you may know about the PMI.

Mosquito asked:


I’m in a dilemma here.

My father works for a mortgage company. My fiance doesn’t want him knowing how much is in her bank account, or how much she makes in general. She asked that we go to a bank in addition to his place.

Is it normal to do that?

I feel like I’d be going behind my father’s back by doing this.