Your Questions About Check My Mortgage Balance

Carol asks…

Banks Profits?

I learnt this week that banks in the UK are making oxtortionate profits.

But how do they make such collosal profits?

I know through mortgages and loans and bank drafts etc.
I also heard that they also make a profit through current accounts.
How? I have a current account and I keep a close check on my balance to
make sure that none of my money goes wayward.

So how do they make such big profits?

Any answers appreciated

admin answers:

They make such high profiits because they take the money you lodge in your accounts and re-invest it in other stocks and shares….then they make millions off those portfolio’s and it doesnt cost them anything!

Thomas asks…

Im interested in assuming a FHA mortgage…It is an assumable loan. Any info would be helpful?

My husband and I had a foreclosure in Nov of 07 and bankruptcy in Sept of 08. We are wanting to own again and have been offered to “take over” a mortgage. As we understand it, it takes about 1000.00 $ in fee’s and we basically are responsible for the balance of the loan. We were told we did not have to do credit check and our past foreclosure and bankruptcy does not matter. We have started to rebuild our credit and have saved some money for when we are ready to purchase again. I am very skeptical and would love to hear different thoughts on this process. Thanks!

admin answers:

With an assumable loan, you do have to qualify for the loan with that bank. They will require a credit check and likely a full underwrite of the loan. The fees do sound about right. If you can, try to find out what bank holds that loan and call them to ask the assumption policy. Then you would know exactly what’s expected of you.

Lisa asks…

How to improve stamina {running},balance,and flexibility at home?

I have a MAJOR problem..And this WILL be long,But I need a LOT of help:
I’m 16 years old and NEVER in my life have been able to run as fast as I have wanted to,Or have any balance or flexibility..I can run for a while before getting extremely tired..Which is better than stopping at 5 seconds. LOL. We have stairs,But there’s like 13 or 14 steps until you reach upstairs..Which is obviously not much for me. Our backyard is the smallest one you’ll ever see..Lol. And I can’t run to school,I can’t run down the street..And I unfortunately can’t go play in sports. I am definitely in LOVE with baseball and basketball..And that’s another thing I need help with:How do I hit the ball in baseball EVERY time? And also,How do I slide SAFELY but extremely QUICKLY? I have tried convincing my mom to let us all go out and either play basketball,baseball,or bowling {I hate bowling,but it’s her favorite..Just as long as she’s happy!} Me,My mom,And her stupid ‘second husband’ are all over weight..I’m NOT that over weight really,But my mom isn’t really that much either..But..She’s not necessarily as small as me..And,I’m pretty big for a ‘tiny’ girl. 😀 And my mom’s dumb ass ‘second husband’ can’t even look down and see his toes! I would simply go on a diet,But my mom will NOT let me,Unless it’s MANDATORY:Coming from a doctor! So,I’m screwed there..But,I want to go out and do things! My mom is always complaining how I ‘don’t do anything’..But I’m the one who LOVES sports,working out,healthy food,etc. And she’s not willing to go out..She’s extremely depressed and stressed out..And,I told her that if we go out and do these things that she will feel SO much better..And get her mind off of those horrible things..But she responded:”We need money for those things.” And she IS right,But..I think we will be getting a check this wednesday..HOPEFULLY! Anyways..We unfortunately live pay check to pay check! And we get a check every two weeks..And that’s not even enough for us! We don’t have food..And believe me when I say DON’T! We have bills and a mortgage to pay off..Like always,And we also have to buy basic things like paper towels,toilet paper,milk,FOOD,laundry soap,etc. And..I’m the ONLY one in the house who tries and encourage everyone else to NOT go out and eat..But,I kind of can take a hint why we can’t..Anyways,I’m getting COMPLETELY off track here..So,I’ll get to the point:
I need help improving stamina for baseball and basketball,And over all..I just need the help! And I also need help with balance and flexibility..I don’t think constantly running up and down the stairs will help,But if it’s PROVEN to help with ANY of these things..I’ll do it. We don’t have any work out equipment,and obviously no money..I can’t run around the house,Our house is cramped..No matter how much space there is. I’ve asked my mom if we could go for a walk or run,But she’s always making excuses of her ‘being too fat’..And,I know she can at least WALK! I’m trying to support my mom with her troubles..She’s so stressed and depressed,And is losing her hair. Which is probably either why she’s making all these excuses,Or is actually being truthful..NO,I am NOT selfish..I may sound like it..But,I’m not. I just want to lose weight,And I want ALL of us to be happy..We’ve all been through WAAAAAAAY TOO MUCH stress..It’s a LONG story..But,TO try and break this down,I have an EXTREMELY athletic/healthy/well built uncle who LOVES sports like me,But..I’m too nervous to ask him if he’ll help me..I’ve known him for 6 years though! I don’t know what the problem is though..I don’t want to make myself look like a fool..Help?

admin answers:

Stand up… Have your right elbow reach your left knee, then drop them both so that you are in the stand-up position again… Then have your left elbow reach your right knee… Then drop them so that you are back to your standing up position… I did this everyday with progression from 100 pairs and reached the 600 count… It improved my stamina such that I was able to swim 2km non-stop…

Linda asks…

My mother is refinancing our mortgage. The house and everything is in her name, but they checked MY CREDIT?!?

So my mother is refinancing our home. The deed, bank accounts, everything is in her name. I have nothing to do with anything financial other than living in the house. She has immaculate credit, but my credit isn’t very good. I’ve had a balance of $1,500 on my credit card for the past 3 years that I have been paying off very slowly. But I make payments every month and more than the minimum.

Anyway, today the bank called and told her they looked into MY CREDIT and would be giving her a higher rate, simply because I live in the house and I have bad credit. My problem with this is, if I have NOTHING to do anything, my name isn’t on anything, why on earth are they giving her a problem for my credit? Did they even have the right to check my credit?

Can they do this? It just doesn’t make sense to me.
My mother has not listed me for anything. The only thing I’m aware of is that they asked how many people live in the house, and my mother listed herself and her 23 year old daughter (me). But I don’t like that they went and checked my credit score. I have nothing to do with this except living in the house!

And this is with Chase bank if it makes any difference.

admin answers:

Is your mother listing you as a source of income? Rent maybe?

It does sound strange, where did they get your information?

Lizzie asks…

Will the unpaid credit card balance hurt my credit score?

I am in processing to apply for the home equity loan, one question is that, for common sense, the underwriter will check my credit score, which I didn’t able to get it free.
Besides the regular mortgage, I didn’t have any debts, but I leverage the 0% APR credit card, there are two credit card has total about 7K balance unpaid (0% interest), will those unpaid credit card balance hurt my credit score, and affect my loan application.
What is the best strategy to deal with this, is send the explaination letter to loan officer works, basically, I have enough fund in my bank account to cover those debts, but I don’t like to pay it off ( which has no interest anyway).
Any idea or thoughts, or better with personal experience, please share it here.

admin answers:

What you talking about is your debt to credit ratio which makes up a full 30% of your score.

This is based on your total debt divided by your total credit. As long as this ratio is below 30% your fine. Anything over that and your score takes a hit.

As far as explaining it, don’t bother. As long as you have made your payments on time as agreed and your ratio is below 30% usage your fine.

And just so you will know, your bank balance has nothing to do with your credit score.

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