March 21 - Online Discussion Question 4

What are some bad ideas when it comes to mortgages? Also, what are some things to keep in mind when obtaining a mortgage?

March 21 - Online Discussion Question 3

Andrew and Olivia have the cash to buy the home of their dreams. The widow who owned it died without a will or probate, but her nieces are going to sign the deed. A babbling brook winds through the back yard. There are overhead power lines, sewer construction nearby, and the neighbors have been letting the widow share their drive. At the closing, Andrew and Olivia are asked to waive title insurance requirement so the nieces won’t have to pay the premium. Is that the right thing to do?

March 21 - Online Discussion Question 2

Lisa has finished her Iraq tour, landed stateside, and is getting married soon. Together, they bring home $3,500 a month, and they think they deserve a home of their own. They can get a VA loan, 30-year fixed, at $1,650 a month principle and interest, no down payment. If they are super careful they can do it, and the equity will only go up. You were discharged two years ago, and you did the same thing. It was a mistake, and it will be a mistake in their case, too. Talk them out of it.

March 21 - Online Discussion Question 1

Newlyweds, Benita and Raoul, have found a house they want, but they’ll need some creative financing to make it work. They’ve lined up a 30-year fixed-rate loan but need to have a 10% down payment to get the interest rate. They will need to get another loan for the down payment and Benita has asked her dad to co-sign. Raul is your friend and has asked for your advice. What will you tell him?