Your Questions About Check My Mortgage Repayments

Ken asks…

Canadian Economy Survey?

I am doing an essay on the Canadian Economy and its effect on the family. If you could please answer the questions to the best of your ability, it would be greatly appreciated.
Thank You,
Rebecca
( you can either copy paste the survey into Your answer or simply just answer with your selection)

Phase 3
Interview/ Survey
This Survey will be used in my Society & Families in a Diverse Society Independent Study Unit. The goal of this assignment is to investigate and analyse the current Canadian economy and its immediate and subtle effect on the countries families.
1.Sex: __ Male __Female

2.Age: __ 15-20 __21-25 __26-30 __31-35 __36-40 __41-45 __46-50 __51-55 __56+

3.Marital Status: __Married __Single __Divorced __ Common Law __Widowed

4.Annual Income: __ $0 – $19,999 __$20,000- $29,999 __$30,000-$39,999 __$40,000-49,999
__$50,000-$59,999 __$60,000-$69,999 __$70,000-$79,999 __ $80,000-$89,999
__$90,000-$99,999 __$100,000 +
5.How many children are in your family?
a.0
b.1
c.2
d.3
e.4
f.5+

6.Do you feel that you and your family have been affected by the economic downfall?
a.Yes
b.No

7.In what way(s) have you been affected?
a.Less freedom with money
b.Job loss
c.Had to get a second/part time job
d.List any others;
_________________________________________________________________________________

8. Do you feel that your family is suffering from the recession?
a. No
b. Yes

9. If yes, why?
__________________________________________________________________________________________________________________________________________________________________________

10. Who do you feel is to blame for the economic recession of the 2000’s and early 2010’s?
a. The Canadian Government & Politicians
b. Large Companies
c. Canadian Citizens
d. Other Country’s governments
Why do you believe your selected answer? __________________________________________________________________________________________________________________________________________________________________________
11. Has living in Canada become more expensive over the last 5 years?
a. Yes
b. No
12. What, if anything are you cutting back on these days? (Check all that apply)
__ Gas (less driving)
__ Morning Coffee
__Clothing
__Entertainment
__Movies
__ Vacations
__Other (please specify) _________________________
13. What is your number one priority when it comes to spending your money?
A. buying the essentials
B. paying off loans and debts
C. investing and saving for tomorrow
D. spending and enjoying your money

14. What has become the most burdensome expense in your household?
a. Mortgage
b. Car and Gas payments
c. Debts and Loan Repayment
d. Other
_____________________________________________________________________________________
16. What are some of your strategies to save money for your family?
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

17. Reflecting on the past year, on a scale of 1 (being low) 10 (being high), how optimistic do you feel about our economy recovering?
1 2 3 4 5 6 7 8 9 10

18. How do you see the Canadian Economy doing in 5 years?
a.Worse
b.The Same
c.Slowly getting better
d.Astonishingly Better

19. Although the government has claimed the economic downfall is over, do you still think we are in a recession?
a. Yes, we are still suffering
b. Somewhat
c. No, we are recovering rapidly

18. Do you have any suggestion on how that government can stimulate the economy?
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

THANK YOU FOR YOUR TIME

admin answers:

My suggestion on how to stimulate the economy is civic forum run banks answering to candian charter of rights and freedoms and allocating cash to green projects and health care.

Mary asks…

Help with programming in vb.net??!!?

I am making a mortgage calculator using vb and i am stuck on one part! my monthly payments wont show up in the textbox but everything else is working here is my code:
‘Calculating the Monthly Repayments

gdecMonthlyRepayments = Val(txtMonthlyRepayments.Text)
gdecTotalMortgage = Val(txtTotalMortgage.Text)
gdecNoOfYears = Val(txtNoOfYears.Text)

If RadNo.Checked = True Then
gdecMonthlyRepayments = gdecTotalMortgage / (12 * gdecNoOfYears)
ElseIf RadYes.Checked = True Then
gdecMonthlyRepayments = gdecTotalMortgage / (11 * gdecNoOfYears)
End If

txtMonthlyRepayments.Text = FormatCurrency(gdecMonthlyRepayments)

my interest and total mortgage is coming up fine but this doesnt seem to be working i have everything declared in the module form! any help would be appreciated. also the radNo and radYes refers to the radio buttons which allows the applicant to take one month off during the year!
Private Sub btnCalculate_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btnCalculate.Click
‘Declaring the variables
Dim decLoan As Decimal
Dim gintYears As Integer
Dim intFixedYears As Integer
Dim decFixedIntRate As Decimal
Dim decFixedInt1 As Decimal
Dim decVariableIntRate As Decimal
Dim decVariableInt1 As Decimal
Dim decInterestInt As Decimal
Dim gdecTotalMortgage As Decimal
Dim gdecMonthlyRepayments As Decimal

decLoan = Val(txtLoan.Text)
gintYears = Val(txtNoOfYears.Text)

If radOneYear.Checked = True Then ‘If one year radio buton is checked then you let the fixed years equal to one and the fixed rate is 0.049
intFixedYears = 1
decFixedIntRate = 0.049
ElseIf radFiveYear.Checked = True Then
intFixedYears = 5
decFixedIntRate = 0.0579
ElseIf radTenYear.Checked = True Then

admin answers:

You would need to post your FormatCurrency function, as this is what would be setting the value.

William asks…

What are my chances of getting a home loan with bad credit?

I mean BAD. We have 1 discharged ch.7( from 9yrs ago). we filed ch.13 about 3yrs ago to try to keep our house. We still lost it. And my husband lost his job so the repayment plan we were on stopped( he had $ taken out of his check), so they cancelled the bankruptcy. It has been financial hell for us for many years! Our house just got sent to auction last Aug! That was a three year gap! It shouldn’t have taken that long for the mortgage company to put us into foreclosure after they found out we were not including it in the bankruptcy. We live in a duplex and are having issues with our upstairs neighbor( she’s a ridiculously quiet hermit) and our landlord can be an jerk. He lives out of town and litterally told us he doesn’t like to be bothered with problems & would like for us to fix them ourselves. HELP! Need advice.

admin answers:

?snowball in hades!

Chris asks…

Credit & Credit Card question. Dad has 2 credit cards in his name only. Dad passed away last month.?

Since they were in his name only, is my mother responsable for paying off my fathers debt? If Mom does not pay Dad’s monthly credit card bill will this effect Mom’s credit? Mom is 82 Years old and might need a loan for funeral & burial costs & /or a reverse mortgage. Will not paying her husbands credit card debt adversly affect her credit & chances for a loan when needed? House has been in an irrevocable trust for 4 years. Mom has no assets . Minimal amount in savings $4000.00 with monthly $950.00 SOCIAL SECURITY CHECK & $400.00 pension check. That’s it .Nothing more & nothing else. Dad was the only name on the cards & if there were charges made to these cards while he was alive & were his wife’s or daughter’s charges are they responsible for repayment? Dad had also sighned a notorized letter stating that his daughter and wife has, had, and have the right to use and sign his name to the account now, and in the past and in the future. Now there are No charges after his death. Default?

admin answers:

Condolences on your loss.
Send a letter via certified mail to each company today. Real short…
My Father, Mr Smith passed away on October XX, 2007.
Please make sure these accounts are closed. My Father has no assets or estate.
Enclosed is a copy of the death certificate….
Or ….I do not yet have the death certificate, but will send that to you within the next X weeks.
1. No other person is responsible as they are not a co-borrower. No one elses credit will be impacted.
2. Do not make any payments, you are not required to.
3. Like you said DO NOT use the accounts.
4. It does not matter who used the accounts.
Like any other type of default, the lender writes the account off as a loss.

Paul asks…

Funding for Going Back To University UK?

I studied for an HND and graduated 12 years ago, this automatically gave me entry to year 2 of a BA hons degree. I only completed a few months due to personal reasons.
I have been offered a place at Uni to study for a BA Hons in another subject. As my first course was carried out in Scotland (no tuition fees there) will I be able to claim for funding in England?
My LEA couldn’t give me advice and when I checked the Direct Gov finance calculator I was told that I could receive help as I hadn’t applied for funding from Student Finance previously.
I have 2 mortgage style loans from Student Loans which have been deferred as I don’t earn enough to make repayments. I haven’t had a deferment form for some time as they went to my late mothers house so I may be in arrears with them.
I am a single parent to a 18 month baby and I would love to get my degree to get a better job and better lifestyle for us both.
Can someone please give me advice, genuine answers only please!
Many thanks
Some great advice given, some of it conflicting but I’ll call Student Finance England tomorrow and hopefully get a firm definite answer. Fingers crossed!

In response to the tip of working, I do work afternoons and would be studying over a couple of evenings. It will take longer to complete but won’t disrupt mine and my sons routine too much!

Thanks again for contact details and advice given.

admin answers:

Consider a professional and career development loan. Check sources for more info. Unfortunately, it is unlikely you will be able to qualify for Student Finance as you had already borrowed from them.. But I’m unsure as you do not have a first degree strictly speaking. Double check with them to make sure:

Student finance: 0845 300 50 90 (Monday to Friday, 8.00 am to 8.00 pm; Saturday and Sunday, 9.00 am to 5.30 pm)

Last, but not least, there is a charity to help young, single mums like you to get into training and development, called Family Action:

http://www.family-action.org.uk/

Check final source for Application Form for a grant. They can assist with things such as cost of childcare, travel & books etc.

Good luck

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Your Questions About Check My Mortgage Repayments

Nancy asks…

can i check to see if a property has a mortgage on it?

Hi,

I wondered if someone could help me, im 22 have recent fallen out with my mother due to a number of reasons im not living on my own, i currently own a 25% share in my family home, my sister owns 25% also and my mother the remaining 50% this was the agreement that was drawn up upon my fathers death three years ago. Im a little concerned though. The mortgage on the house was paid off by his life insurance, ive since learned that my mother has gotten herself into alot of debt which she has no way of paying back and she has applied to remorgage the house to met the debt which im told she could easily do due to the amount of equity she holds in the property.

I have a few questions

1. can see take out a mortgage on a house that she does not fully own with out the consent of the other owners?

2. Ive not heard anything from a bank asking for my permission etc, my mother has in the past forged my father signature to applied for loans, im really scared she may do this to me, is there anyway i can check to see if a mortgage has been taken out against the house?

3. if this is the case will my share of the house be lost, as she will not be able to meet the repayments.

4. is there anyway i can force her to sell the house so i can take what has been left to me and move on with my life.

any help would be great, i was only 18 when my father passed away and at the time did not understand exactly what i was entitled to, this whole situation is really stressing me out.

many thanks

admin answers:

In this situation, you need legal from a solicitor.

George asks…

mortgage calculator question?

I want to calculate what I would save by repaying a quarter of my monthly mortgage repayment every week instead. Anybody know of a suitable online calculator I could use? Any I have checked only allow for varying monthly repayments. Ideally, I would like one that shows the figures for potential savings. Thank you.

admin answers:

I am sure that you have tried the one at bankrate.com
http://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx
That is the best I have seen for what you a trying to do, yet still won’t do it.

Perhaps you can look up the formula for mortgage repayment by googling
Ex: Mortgage Amortization Schedule .xls (if you have excell)
With a spreadsheet you could customize it to the way you want.

What you could do instead:
Pay the mortgage monthly right after the closing date.
A full month ahead. This way you will save in interest for the whole month.

Lizzie asks…

If you have a binding memorandum of settlement can a person change there mind later?

My mother used my soc sec checks to make mortgage payment and her down payment the money is being refunded to her in a settlement but its my money. My mother signed a memorandum of settlemement for repayment that had the wording that its binding but her attorney wont honor it.

admin answers:

If you’re talking about a closing, a closing does not allow for funds to issued to any individual – only business involved in the transaction. I know you were depending on the funds from the loan to go towards paying off the debt to you, but unfortunately, you will have to create a separate agreement with your mother.

Helen asks…

Using a loan for a deposit for a house…?

My partner and I want to buy our first house. We do not have a deposit as we are paying through the nose for our rent. We have worked out that if we took out a loan for the amount required for a deposit, the monthly repayments, plus the repayments on the house (checked via a mortgage calculator) would still be significantly under the amount we are paying for rent. Providing we are accepted for the loan and mortgage, I can’t see this being a problem? I have read that this is a silly thing to due because of the repayments and not being able to afford both, but if we can, there are no problems surely? Have you done this or have any reason that it shouldn’t be done? Thanks for any advice.

admin answers:

What you say looks all right, BUT !! For gods sake read the small print on your loan. Are you insured against loss of income ? Through sickness , injury job loss. Are the interest payments at a fixed rate for x number of years, for loan and mortgage. Be VERY care full the media is full of people who came a cropper by not reading the small print on any transaction Good Luck.

Richard asks…

Chase mortgage loan repayment program or late pay?

I have a mortgage through Chase that I am currently behind on (45days) due to a severe pay cut at work. I called Chase to see what my options were for trying to get caught up (hoping I could post-date a check, pay partial etc…) when they told me my only option was foreclosure or a “loan repayment program.” This program will allow me to skip my mortgage for last month and then would increase my mortgage by $150 for the next nine months until the difference is paid. But the whole time my credit will show default.
What is the benefit in enrolling in this program versus skipping last month and paying additional $150 for the next nine months without enrolling? I just don’t see the point if my credit will show default either way. Any advise is appreciated.
So, showing default and being passed due are two different things? Because the rep. said I would still show default on my credit for the 9 months even with entering the program.

admin answers:

The difference is only the length of time your credit score will be affected.

If you take program your past due mark on credit report will stop immediately. Your credit report will no longer show you are past due on mortgage loan.

If you go the other way your credit report will show you are delinquent on your mortgage loan for another 9 months. This will take longer for your credit score to recover.

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Benefits Of Cheap Mortgage Protection

Cheap mortgage protection is one of the most underrated forms of insurance and protection on the market today. Consumers often do not believe that it is completely essential if you own your own home, despite the fact that it can help to protect the single biggest investment that the majority of people will ever make in their lives.

In fact, cheap mortgage protection could feasibly enable an individual to keep the roof over their head should they be unable to work due to unforeseen unemployment, long term illness or accident.

Sadly, many people who become out of work due through no fault of their own can often find that their home, which they have worked long and hard for, eventually gets repossessed if they cannot manage to keep up the mortgage repayments.

The benefits of cheap mortgage protection are immense. The first and main benefit that all homeowners should consider is the fact that it could actually keep a roof over their heads should they be out of work for a period of time through no fault of their own. In fact, cheap mortgage protection would take the stress of being unable to make repayments off an individual. Very few people would have enough savings to live off while they got well or found themselves another job and the State benefits would not even make a dent in helping towards a mortgage repayment.

Secondly, cheap mortgage protection can last the lifetime of a mortgage. It is designed to protect home repayments for the life of the mortgage, although it will only pay out for one twelve or twenty-four month period usually. The cover will only be cancelled before the end of the term of the mortgage if you cancel it yourself or you make a claim

Finally, cheap mortgage protection can remove some of the stress placed on a homeowner ill equipped to cope with financial difficulties on that scale. The peace of mind it gives is most definitely a major benefit!

Mortgages A Long Term Debt

The average price of a house in the UK is now well over 100,000, and not many people would be able to find such a huge sum hidden under the mattress. This means that the majority of us have to borrow to buy our home, and usually this means taking out a mortgage.

Dont Want To Be In Debt?

Debt is now a fact of life for all but the most fortunate of us whether that means a small overdraft or a large mortgage. Thankfully this no longer carries the stigma of yesteryear, and as long as you properly manage your debts there should be no reason to fret about owing money. In fact, having a mortgage will improve your credit and help to convince your bank manager that you are financially sorted!

Save Money By Buying A House?

Often mortgage repayments can work out cheaper than paying rent, and youll have the added security of owning your own property. Given normal economic conditions, the value of your property is likely to rise while you live in it, which means that taking out a mortgage is one of the commonest ways to invest money. Property continues to accrue value while other assets can decrease in worth provided your house is kept in good repair and is structurally sound; you can usually expect to make a profit when you eventually move on.

Being Committed!

That said, taking on a mortgage is still a serious commitment, and not one you should enter into without careful consideration and planning. You need to ensure that you meet your monthly repayments a mortgage is a legally binding agreement, and failure to keep up with your payments could mean you lose your home as well as your investment.

As well as the implications of taking on such a large commitment, you will also find you need to do some hard work finding your mortgage. The complex world of mortgages is enough to bring many of us out in a cold sweat. With so many different options to choose from, and a constantly changing market, its not surprising so many of us find ourselves overwhelmed.

Choosing the Right Mortgage

What to do if the vast array of different types of mortgage makes your head spin and you dont know your APR from your elbow? Start by getting familiar with the basic terms and structures of mortgages. This guide provides a starting point to help familiarise you with some of the more common issues surrounding mortgages. Take your time, do your research, and youll find you can navigate your way through the maze of mortgages.

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