ON Canada, Sept 11, 2011 - Current fixed rates are at the lowest and this makes housing more affordable. Variable rates on the other hand is around 2.4% while fixed are at 3.19%. The difference between the two rates is low or $ 39 for 25 years for each 100K of loan. Having the peace of mind of equal payments vs. low and volatile rates, the fixed rate may be a better option at this point in time. It could change next month. Email me at victor_catalan@centum.ca if you need further assistance on this matter.

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My neighbors homes are in stable area:schools are award winners.the police & fire protection rated highest in our midwestern state: close to outstanding shopping, medical, and transportation. everyone wants to live here! so i thought. these homes are the newest and best, 3-5 years old, and are bargain priced in the 300-500,000. range. many are telling me that they got into the homes with little down, and flexible/fixed loans which had premiums go up hundreds as the taxes, insurance, and other "adjustments" to numerous to mention went well above their earning powers, so they are wanting out. some are selling off other assets to keep up, others are using credit cards to make ends meet. real estate agents tell them the market is slow. some lower the asking price below what they had to pay for them. still no interested buyers. foreclosure simply means an empty home bought by a foreign subsidiary.the morgage holder makes $$ but shows a loss, legally! what's next?

Could be a slow market in your area. What are employment conditions like? Maybe the house you're talking about is priced too high.

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We recently put a bid on a home that is in short sale and has been in short sale for 7 months now. there is a total of three offers, my offer being the highest. we were recently told the first morgage lender already accepted the short sale and set there payoff but we are still waiting to hear back from the 2nd morgage lender? does anyone know how long this can normally take and what the process is from there to closing? thanks for any info. you can give! thanks for all responses! the answers i hear is what i'm afraid of. i have asked the same questions of, what the amounts of the two loans are and what lenders are holding them, but don't get answers. all i get is the total of the two loans is $199,000. it is listed at $175,000 & our bid is $170,000. its a very nice home and we have looked at over 20 other homes but none compare to what we are looking for. just hoping it will come through for us! any suggestions to help the process along?

the first mortgage is usually the easy one, as they get paid off first. Is there anything left for the second? If not, then why would they approve it? What are the numbers? 1st, 2nd, and amount offered?

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Tax law is super confusing!!!!!!! i own a condo and am about to sell it. i've owned it less than two yrs. the sale price is 46,000 i paid 41,000 and i own 35,0000 on the morgage. the realitor gets 6% and closing costs are $2,500. how much roughy will i get after paying captal gains?

You shouldn't have a gain, so shouldn't owe capital gains taxes. You'll have $2760 commission, $2500 closing costs and a mortgage payoff of the $35,000 - that totals $40,250. So you'd get $5,750.

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I just bought a house with a standard 30 year fixed rate morgage at 6.375%. no downpayment, 100% was covered by the loan. all closing costs paid out of pocket. approximately how long would it take to "break even" on the sale of the house, by which i mean, when will i accrue enough equity to cover sellers closing costs and walk away without any remaining debt? (assuming it were to sell for the same price) oh...i paid 160k.

There is no way to determine this. Usually it will take a couple of years to be able to at least break even in your situation. However, based on the real estate market right now, how much your property appreciates, or depreciates for that matter, and how much you pay for your sellers closing costs (Realtor fees can vary, title company fees can vary, where you live will have a huge affect on these numbers) etc...will all need to be taken into account to be able to figure this out. In a normal real estate market though 2-3 years should be plenty of time based on the information you have given.

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I have been in my job far too long i could do it with my eyes closed (if i tried) seriously, i am such a coulourfull person living in a dull black and white mundane world. it pays well for what i do however, it is the not doing that is eating me away. i have started an open uni degree but that will take five years. i need to get something to warm my blood now! i am a cairing, fair, freindly, hard worker who when gets the hang of the job does it to perfection! trouble is i don't have many qualafications but what i have ever started i have accomplished as i am determined! some one would be saved by me but i need the chance to proove my potensial! i have thought about sales, working from home,becoming a novelest, etc etc. i need a buzz not to huge an earning but good enough to pay the morgage but most of all be happy! i enjoy helping others and have expereince in this feild doing councelling courses etc but i would turn my hand to anything! any advice on were i should turn i am lost!

look in the classifieds to see what interest you and then apply.

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I know a couple who are on welfare. they get foodstamps. they get wic. they get energy assistance, so they don't have an electric bill. they live in government housing, and they don't have to pay rent. the man works a job getting paid under the table in cash. he doesn't get a pay check so the housing office thinks he is unemployed, and they don't charge them for rent. the woman stays at home with their child, but i wouldn't consider her a full time mom, considering the house is always dirty (i mean nasty). she pretty much sits on her butt all day. she is no "soccer mom" or "pta mom" if you know what i mean. now this couple that i am talking about, drive a brand new 2007 pt cruiser. they buy steak and shrimp for dinner. they wouldn't be a bit worried if they found out she was pregnant again. they go out to parties, and drink every week. they have cable, but only because their neighbor has cable (get it?). they have an xbox and the latest games. they live in a two bedroom town house, and don't seem to have many worries, except whether or not they sent in the paper work to get more help from the state. oh and the woman and child both have free health insurance through the state. and everything health wise is completely paid for in full. even the perscriptions. now on the flip side, i struggle for everything i have. i work a full time job and commute to work 40 min to and from every day. i pay all my bills. the electric bill, the water bill, the trash bill, the morgage, the cable internet and phone bill, and car insurance. i own my car, and thats kinda nice. i dont have to make payments. but when its all said and done, i can only afford to buy food thats on sale, and if there is nothing on sale when i go shopping its top ramen noodles and mac and cheese for everyone! i never go out. i can't afford to. i can't even afford to save a little money on the side, small outing like the movies. i never drink. and i can appreciate a good beer every once in a while, but again can't afford it. i would take my dog to the vet before i would go to the hospital, because i don't have health insurance, and when the dog is sick i could never punish her for that. but a vet visit would put me in debt with someone else. i can't even afford a christmas tree this year, as much as i love christmas. i am even thinking about calling my family and telling them not to get me anything, because i can't afford to get them anything this year. and i am not complaining. i appreciate what i have. i know it is hard for alot of people, and some are way worse then me. but here is my argument...... the couple i was speaking of gets all this help from the state, even though both of them are completely capable of working. and here i am paying taxes to help the government help them. i want to have a family some day to you know. i cant wait to have my own children. the closest i ever get is babysitting someone else's child for a little extra cash. why should i have to pay so they can have everything that i want and more? why should i have to wait to start a family due to finances? they have everything i have and more but here i am, going to work everyday, so i can come home and worry about which bill is going to be due before i get my paycheck, and how long i can wait before i pay it. and what do you think is going to happen to that couple's child. i think they are setting the stage for that child to grow up and be on welfare to. children mimic their parents actions. a child who grows up in a lazy family is likely to be lazy also. and with that being said, do you think the reason welfare is overwelmingly popular has anything to do with the fact that every person on welfare raises a child to be on welfare as an adult? and would it be fair to make "getting your tubes tied after having two children" a stipulation of recieving welfare? that way people who take advantage of the system can't create more people that take advantage of the system. okay this is really long i am going to stop now. solve my welfare crisis and i'll rate you best answer. funny, serious, depressing, angry.. i am looking forward to reading all your responses. thanx

Okay I didn't even read the whole thing because it was ridiculously long. But I do have some stuff to add. 1: They are committing welfare fraud if he is working under the table and not reporting it...with that being said, turn them in because its wrong 2: If she has the time to clean the house and doesn't and its filthy then call CPS 3: They are illegally getting cable? So turn them in for that too. Dont complain on here turn them into the authorities. And more to add, welfare people aren't always like that its just scammers like them. And you made me really mad because you say that: "the fact that every person on welfare raises a child to be on welfare as an adult" Okay where did you get that fact from because I would really like to know? That is a fact you made up and its not true. And you seem to imply that welfare people are lazy! Well you know what I take it to be personally offensive because I am a single mom in full time nursing school. I spend 60 hours a week doing school work and I just got finished doing a full time unpaid internship as well at a hospital. And you know what Im on welfare! Im not lazy nor would I raise my kid to be lazy. I want off and wish i didn't(and never thought I would) have to be on it. I struggle too just like you. I dont get free housing but am lucky enough to have family to live with that I only have to pay a few hundred dollars a month rent. Leaches like her need to be off the system but don't start thinking all us "welfare rats" are the same. Now to help you out....if you ever need help with anything like food, clothes, utility/rental assistance, gas cards, car repairs, etc call 2-1-1 and also check around with churches too.

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So i applied for a morgage loan back in oct. we found an investment property, and we were pre qualified. it seemed like everything was a done deal 100%. 2 weeks before the closing the underwriters start to ask for lots of things, income not enough because they can only count 75% of the income coming from the investment property, to solve that we put about 10% down on an fha loan( that we qualified for since we would live in part of the investment complex) now today on closing day that seemed for sure on monday we hear that our loan has been denied due to "declined due to the lack of recent comparable sales in the area of like properties". that's after we put earnest money down and paid for an appraisal and sent all of our information to the company( bank balances, account #'s, business acct and personal acct., ssn's everything. can a loan be denied because of lack of comparables in the area? and now i feel nervous about them having all of our personal info and acct #'s. we had 4 comparables all within the same price give or take 10 to 20k one was right next door, other 1 mile away and two 10 miles away the appraisar came with a value for the place and the 4 places it compared it to. the mortgage company had the appraisal for a month and never said a thing until 2 days before closing.

2 of the comps were outside of the acceptable "range". Most guidelines require comps within 1-2 miles and sold within the the last 3-6 months. You can always contact the appraiser to see if he/she can find other comps or you can contact FHA/HUD and see if they can offer some help.