Hello Nydia. Your question is a common one but very often not explained by your bank. The reason for the port in the first place is that there is an agreement in place (between you and the lender) for a mortgage amount, term and interest rate that has not yet expired. That agreement must be honored by both sides or there may be penalties to be paid for breaking it. There are 3 different types of ports that can happen when you sell a home and buy another. Each one different. Your mortgage can be either a straight port, port-increase, or port-decrease. The simplest is the straight port where you are moving your mortgage from one property to another with the same amount of mortgage. The rate, remaining term, and amount stay the same, no penalties involved and the process is straightforward as there is no new money involved. The second option is a port increase where you need extra funds for the new home, (this is usually the case if you are buying a more expensive home and have less down payment) In this case the remaining mortgage term is moved to the new property, the mortgage amount is increased and finally the interest rate is blended with today`s available rates. You mentioned that your current mortgage rate is high that would mean that todays rates are lower, in this case your rate will be blended and reduced, if the rates are higher today your rate will be blended and increased. I can do a rough calculation for you if you like, see my contact info at the bottom of the reply. The final port is the port-decrease. In this case you need less mortgage than the remaining mortgage amount you currently have. Your mortgage term, and rate get moved to the new property only the mortgage amount is reduced. There may be a penalty involved in this reduction of mortgage. If you are reducing your mortgage amount by greater than the allowable yearly prepayment options that you have signed for on your mortgage documents you may be charged a penalty for the extra reduction. There is one more option that one can consider, if your bank is not going to offer you a good rate on your port (they already got you so they often dont) then you can always consider a new mortgage at another lender at full discount. It may save you more than your penalty to break, the calculations often tell the tale if it is worth it. I hope this information has helped you Nydia. I can go into more detail if you like, explain further, and do some rough calculations, no obligation if you like. Please don`t hesitate to contact me:Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with 25 lenders and can do mortgages across Canada except Quebec.

Thanks Abraham this is a very detailed explanation about mortgage porting and I wouldn`t add any other comments. You explained it very well, thank you.

Thank you I try to be complete as possible with my answers, I do encourage anybody who has questions to please call me, there are things that I didn`t touch on, small guidelines that I did not mention because my answer would be double the size and possibly confusing. The guidelines I mentioned do not always apply to every port, each lender is different and each client circumstance is different so please call me with any questions and I can answer to your unique situation. Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with 25 Banks/Lenders and can do mortgages across Canada except Quebec.

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I have $330k left on this mortgage and we are trying to get a house for $430. because the mortgage is portable, do i still need to have 5% down payment. and as a side note, if i do need a down payment, can it just be worked into the ported mortgage meaning not having to scrounge around for the 5%?

Yes

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We are selling our house and want to pay off part of the mortgage and transfer the rest to a smaller property. we have been told by mortgage adviser we should be able to do this but not sure how it works. if anyone knows about this would love to hear.

Never seen it done in VA, PA, or OH. Too much paperwork for something as simple as paying off one mortgage and financing a 2nd. I have seen modification done where the secured property was swapped out; but really rare and usually as a deed of exchange or a property line adjustment.

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My emachine (et1331g-03w) has an integrated nvidia® geforce® 6150 se graphics video card with a single vga port. i have two (2) monitors hooked up via a y plug splitter, however they're only displaying cloned images. i wish to "extend" my desktop, but the computer only sees a single monitor. i've disconnected one...rebooted, and reconnected the second monitor...even hooked up another brand, but alas...the computer sees only one. i contacted emachine (gateway) help desk, and explained my situation in great detail, but apparently the individual in calcutta or bombay felt that she needed to email me instructions on how to hook up a monitor to a computer....as well as how to make sure my computer was plugged in. (would i be getting a freekin' cloned display if the computer were not plugged in?????...but i digress). anyway, the integrated video card referenced above has one single vga output (and as i've stated, is running into a "y" plug splitter). i use the computer for work, mostly reading imaged mortgage loan documents on one screen, and data entry on the other. i don't run nor do i need to run video games so i won't be needing, nor can i afford a supercharged self powered high end graphics card). i haven't taken the back off of the computer yet, but at this point, i'm assuming my only choice is a pci (as opposed to an agp) card...but having said all of that, here's my question: (yea..i know....finally!) can i purchase a separate, stand-alone single input vga pci video card, or do i need a video card with two (2) vga ports in order for the emachine to recognize it's got two monitors and will allow me to extend my desktop. secondly, since i don't know if the current integrated card has any dedicated memory (if any), do i need to get a card that somehow matches that. (please keep in mind, i don't need a card that's got one vga and one dvi ...or two dvi inputs. i'm very basic here...but very pleased i learned the difference! thanks in advance for your help. if anyone else has the same machine, and knows for a fact that there's an agp slot on the mother board, it'll help me when selecting a card.

Yes, it has an available PCI Express 2.0 ×16 slot for a graphics card. It comes with Integrated GeForce 6150SE Graphics and a weak 250 watt power supply. You should replace the power supply if you want to use a video card. A regular ATX size power supply fits. An example of a possible upgrade would be: GIGABYTE GV-R467ZL-1GI Radeon HD 4670 1GB 128-bit DDR3 PCI Express 2.0 x16 http://www.newegg.com/Product/Product.as… Radeon HD 4600 Series System Requirements: 400 Watt or greater power supply

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I'm looking to buy a house in port saint lucie, fl and i have been approved by my mortgage broker to be able to get up to $90,000. the problem is that i can't seem to find anything that isn't 1. a mobile home, 2. totally destroyed house. i have absolutely no handyman skills and i just want to move right in. i also want a house with a yard because i have a dog -- a condo just doesn't work for me. can anyone help? realtors keep showing me junkers!!

A house at that price will have some flaws, maybe you should look further for a handyman, or bid at an auction for a house or look for a condominium.

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Professional summary over 25 years experience in various phases of the construction industry, superior carpentry, installation skills and mechanical skills including vocational school training, on the job training and self education / sales and marketing skills applied in interior shutter, home inspection and moving industries / superior moving skills as well project management: hired as subcontractor to install atm’s in publix grocery stores from sebastian to miami for golden eagle implementation services / hired as subcontractor to measure, sell and install interior shutters for shutter resources through out the treasure coast of florida / hired as subcontractor to perform home inspections for accurate inspectors inc. from sebastian to boca raton / co- owner and foreman for hoopers metals inc. over saw metal framing crew for installation of interior framing of new homes / owner of the furniture men a moving company, managed a crew of 12 men oral and written communications: verbally communicated and delegated various duties to work force personnel, verbally communicated with customers, clients and representatives as to scheduling and other pertinent details / wrote numerous inventories, sales and billing invoices, filled out and filed hand written and typed all necessary forms and reports /submitted these forms and reports to appropriate dept. heads of staff, senior officials and superiors. rendered final decisions and directions on operational procedures when needed. leadership: highly regarded by superiors, colleagues and subordinates as a qualified leader with lead by example work ethics / set high performance standards for self and crew, including time management, work assignments and procedure compliance. exemplary oral, written skills and presentation skills and ability to communicate with all levels. experience: field inspector 04/2007 to present accurate inspectors inc. 40hr / wk p.o. box salary: $350 pw+ port orange, fl. supervisor: dave k telephone: 866-480- perform residential and commercial inspection for insurance company‘s, realtors, mortgage brokers and home owners •conduct exterior and interior visual inspection of roofing system geometry, tie downs structural integrity and overall condition •conduct visual inspection of air conditioning and heating units for age and overall condition physically test units for adequate performance •conduct visual inspection of plumbing fixtures, pipes, sinks, toilets, water heaters for leaks and physically check for proper operation •conduct visual inspection and physical testing of electrical system to make a determination of whether or not system is up to local code, grounded, type of wiring used, any unsafe wiring and if required outlets are gfi protected •conduct visual inspection of hurricane protection for proper installation, type of material and it’s quality for a windstorm mitigation inspection •collect data , report all defects and complete all necessary forms including submitting all required photos along with completed forms •communicate with superiors, colleagues, clients and customers for scheduling, report discrepancy’s, inquiries and relevant questions. •implementing and applying marketing, advertising and sales techniques via the internet, newspapers and personally performing door to door marketing mark field technician / salesman 01/2007 to 04/2007 shutterresources 40h/wk hwy 50 salary $1,000 pw orlando, fl. supervisor: jeff telephone: 407-568-8753 perform sales, installation and manage satellite warehouse for interior shutter company •perform sales presentation with customer in person / discuss styles, materials and prices •measure all requested openings for custom interior decorative plantation shutter’s •complete and submit all necessary sales form’s and dim

i will give you a 9.5

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Ok well i am 16 and about 3 months ago a tree fell on my room and destroyed it. well we got about 45 thousand to fix it. we had to give the money to the mortgage company and they would give us the money to fix it in the form of three checks.well we hired a company to fix called port city builders. well they said that the house should be fixed in 3 to 4 weeks. well it ended up being 3 months. now just imagine my mom and dad and my two year old brother and my 11 year old brother and me all in a hotel room for 3 months. well well we have gotten our first two checks for the mortgage company and have given them two the builders. well in order to get the last one 95% of the work has to be done. well we have scheduled 3 inspectors too come out but every time the house was not ready. well they finally got done and the inspectors came and said it was done and that they would send the check. well we have yet to see the check and the builders are mad and keep calling and cusing out my parent they said that if they do not get the check by monday that they are going to but a lean on the house. my dad said that if they do then he is going to sue them for discrimination because he is cuban. well my dad said that if they put a lean on the house then he is not going to give him the check. i would like to know what would be good to do in this situation. should we report them to the bbb? the mortgage company are they people that did the inspection

Are you aware that you start every sentence with the word "well"? Well, your father has no case against the builders for discrimination. That is just out of left field entirely and there is no evidence to support it. Further, the builders can go to court to have a lien placed on your home for failure to pay. The fact that the mortgage company owes you the money does not have anything to do with the fact that you owe the builders money. If they file a lien for non-payment it will be granted to them. This still allows you plenty of time, however, to respond to the lien and pay it off. Most jurisdictions give at least 90 days before any further action is taken. You can't blame the builders for trying to protect themselves. If they place a lien on your house, just pay off the lien when you get the third check and the lien will be removed. If you refuse to pay when you get the check because you're mad about the lien, it would be a very bad decision on your part. Failing to pay off the lien within the time prescribed by law will allow the county to evict you from your house, auction off your home at far less than the market value, and use the proceeds to pay off the lien for you. The bank would get the rest of the money still due on the mortgage, and you would still have to pay the bank back for the difference despite the fact that you no longer have the house. If you want to keep the house, pay the builders what you owe them when you get the check.

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By dick morris and eileen mcgann 11.7.2008 can’t the anti-washington insiders president-elect find anyone who isn’t a beltway has-been? judging by the appointments to his transition committee and leaks about possible top staff and cabinet choices, obama appears to be practicing the politics of status quo, not the politics of change. obama based his innovative campaign on an emphatic and convincing commitment to change the culture of washington and bring in new people, new ideas, and new ways of doing business. but now, obama has definitely changed his tune. as president-elect, he’s brought back the old washington hacks, party regulars, and clinton sycophants that he so frequently disparaged. like jimmy carter, the last president who ran as an outsider, obama has reached out to the same old folks who dominate the democratic party and represent the status quo. his transition committee looks like a reunion of the clinton administration. no new ideas of how to reform the system there. the chairman, john podesta, was clinton’s chief of staff. he presided over the outrageous last minute pardons and his style is strictly inside-the-beltway and make-no-waves. then there’s carol browner, clinton’s competent former epa administrator who became the consummate washington insider. she’s madeline albright’s partner and recently married mega-lobbyist and former congressman tom downey. during the uproar over dubai taking over u.s. ports, browner brought downey to meet with senator chuck schumer to plead dubai’s case. downey was paid half a million dollars to push dubai’s position. he’s also a lobbyist for fannie mae, paid half a million to try to cover their rears on the subprime mortgage mess. is his change? federico pena was clinton’s secretary of transportation and of energy. the president felt he was unduly soft on air florida after their crash and lost confidence in him. now he’s back as a transition committee member. bill daley, clinton’s former secretary of commerce and the brother of the mayor of chicago, is the epitome of the old democratic establishment. clinton appointed him to the fannie mae board and his son worked as a lobbyist for the agency. aren’t these the kind of folks that obama ran against? larry summers, president of harvard and former clinton secretary of the treasury is not exactly an outsider either. he’s also alienated more than a few with his bizarre suggestion that women may be genetically inferior to men in math and science. susan rice, assistant secretary of state under clinton advised john kerry and mike dukakis. does that tell you enough? obama has named one of his big bundlers - michael froman, an executive at citigroup. is this supposed to symbolize change? obama’s choice of a spokesperson for the transition is also surprising; hers’ is definitely not the face of reason and new politics. stephanie cutter is the brash and combative former clinton, kerry, and ted kennedy mouthpiece. the liberal dailykos.com once described cutter as “a moron to the nth degree” when she tried unsuccessfully to force the new york times’ adam nagourney to treat her unsolicited email criticizing howard dean as “background” without mentioning her name. speaking of brash, rahm emmanuel, the new white house chief of staff, makes cutter look timid. rahm is also a former clinton white house staffer - and a very obnoxious one. he spent his white house years leaking to the washington post whenever he didn’t like what the president was doing. even bill clinton stopped trusting him. any hopes of obama keeping his commitment to reach across the aisle would go right out the window with rahm’s appointment. instead of extending a hand to the opposition, it would be like raising just one finger. and rahm’s strident demeanor laced with the ‘f’ word in every sentence will do little to elevate the bipartisan dialogue in washington. christopher edley, another member of the transition team, is dean of the berkeley law school. he’s a former member of the u.s. civil rights commission under clinton and his wife, maria echaveste was clinton’s deputy chief of staff. transition committee staffer christine varney was a federal trade commissioner under clinton and worked in the white house. throughout the early debates, obama criticized hillary as part of the inside-the beltway establishment that needed to go. but now he’s reaching out to these exact same folks. some change. source: http://www.dickmorris.com/blog/2008 /11/07/obamas-change-back-to-the-de mocratic-washington-insiders/#more- 485 there the idiots go again, how does who says it change the facts?

He campaigned on "change" -- yet chose Sen. Biden as his running mate. Supposedly because of his vast experience with Foreign Relations. President Elect Obama is in WAY over his head -- no experience, no experience, no experience. All these "has beens" have experience. As for the change -- get ready, it's coming ..... his supporters are in for a rude awakening.

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Professional summary over 25 years experience in various phases of the construction industry, superior carpentry, installation skills and mechanical skills including vocational school training, on the job training and self education / sales and marketing skills applied in interior shutter, home inspection and moving industries / superior moving skills as well project management: hired as subcontractor to install atm’s in publix grocery stores from sebastian to miami for golden eagle implementation services / hired as subcontractor to measure, sell and install interior shutters for shutter resources through out the treasure coast of florida / hired as subcontractor to perform home inspections for accurate inspectors inc. from sebastian to boca raton / co- owner and foreman for hoopers metals inc. over saw metal framing crew for installation of interior framing of new homes / owner of the furniture men a moving company, managed a crew of 12 men oral and written communications: verbally communicated and delegated various duties to work force personnel, verbally communicated with customers, clients and representatives as to scheduling and other pertinent details / wrote numerous inventories, sales and billing invoices, filled out and filed hand written and typed all necessary forms and reports /submitted these forms and reports to appropriate dept. heads of staff, senior officials and superiors. rendered final decisions and directions on operational procedures when needed. leadership: highly regarded by superiors, colleagues and subordinates as a qualified leader with lead by example work ethics / set high performance standards for self and crew, including time management, work assignments and procedure compliance. exemplary oral, written skills and presentation skills and ability to communicate with all levels. experience: field inspector 04/2007 to present accurate inspectors inc. 40hr / wk p.o. box salary: $350 pw+ port orange, fl. supervisor: dave k telephone: 866-480- perform residential and commercial inspection for insurance company‘s, realtors, mortgage brokers and home owners •conduct exterior and interior visual inspection of roofing system geometry, tie downs structural integrity and overall condition •conduct visual inspection of air conditioning and heating units for age and overall condition physically test units for adequate performance •conduct visual inspection of plumbing fixtures, pipes, sinks, toilets, water heaters for leaks and physically check for proper operation •conduct visual inspection and physical testing of electrical system to make a determination of whether or not system is up to local code, grounded, type of wiring used, any unsafe wiring and if required outlets are gfi protected •conduct visual inspection of hurricane protection for proper installation, type of material and it’s quality for a windstorm mitigation inspection •collect data , report all defects and complete all necessary forms including submitting all required photos along with completed forms •communicate with superiors, colleagues, clients and customers for scheduling, report discrepancy’s, inquiries and relevant questions. •implementing and applying marketing, advertising and sales techniques via the internet, newspapers and personally performing door to door marketing mark field technician / salesman 01/2007 to 04/2007 shutterresources 40h/wk hwy 50 salary $1,000 pw orlando, fl. supervisor: jeff telephone: 407-568-8753 perform sales, installation and manage satellite warehouse for interior shutter company •perform sales presentation with customer in person / discuss styles, materials and prices •measure all requested openings for custom interior decorative plantation shutter’s •complete and submit all necessary sales form’s and dim

i will give you a 9.5