We have a mortgage loan with Wells Fargo and they sent us a mortgage payment protection rate quote of $33 per month which is "secure 12 Mortgage Payment protection" through Minnesota Life Insurance with benefits up to "4000.00 a month benefit". Knowing that there are alot of scam warranty protections out there for home appliances [...]

I know of someone who had a mortgage payment of 1500 dollars and went through some type of program to get a lower interest rate. Now their mortgage is 650 dollars. Yes there are several government loan modifications programs out to help you lower your payment. FHA, HAFA and HASP just to name a few. [...]

If my mortgage payment is higher than what I’m charging in rent, can I deduct that from my taxes? I think I heard that you can’t deduct interest anymore if the house isn’t your primary residence. Is that also true? Thanks in advance. You may minus mortgage interest and any other expense (except for cost [...]

I paid some principal towards my mortgage. the bank reduced my time period not the mortgage payment. is this koshier? Extra payments of principal are a terrific way of reducing the principal balance outstanding on your mortgage. Reduced principal not only reduces the time to pay down your mortgage, but more importantly, reduces the amount [...]

If your mortgage payment is due on the first of every month, but your mortgage company does not start charging late fees until after the sixthteenth of the month. Is it right for them to call in between those dates asking why having they received your payment? If your mortgage payment is due on the [...]

I have been making my 1st mortgage payment, my income is not the same. I could only afford to pay my 1st mortgage payment, can they foreclose if I don’t pay my 2nd mortgage? I have contacted the bank for my 2nd mortgage that I’m not able to pay and apparently they don’t care, they [...]

We want to get an idea of what exactly we are looking at as far as are monthly payments. We know we have to pay homeowners insurance but we don’t know how much it is for Los Angeles and also any taxes. Our estimated mortgage payment will be $1,300. We want to know what we [...]

I was just wondering how long after closing escrow do you make your first mortgage payment? Barring anything unusual, you do not make a payment until the 1st of the 2nd month after you close. So if you close on December 5, 2009, you would pay the 1st payment on February 1, 2010. If you [...]

I was just wondering how long after closing escrow do you make your first mortgage payment? Barring anything unusual, you do not make a payment until the 1st of the 2nd month after you close. So if you close on December 5, 2009, you would pay the 1st payment on February 1, 2010. If you [...]

I just graduated college and still live with my parents in a small house that my great grandfather built in the ’60s. My parents want to move or build a house on the lot next to us because the house is getting too small for them, but it’d be perfect for me, plus I would [...]