Mortgage Town » Mortgage

Mortgage-free, tiny home on a housekeeper’s salary

admin — Fri, 18 May 2012 22:02:29 +0000

Johnny Sanphillippo has never made more than $20,000 per year (he works as a housekeeper, as well as, a gardener and house painter), but he knew like “any other American” that he wanted to own his own home.

When he talked to bankers about qualifying for a Home Loan, “they look at you and their eyes glaze over and you realize, they’re going to give me a lollipop and send me home, which is pretty much what happened”. So he decided that if he went far enough away from his hometown of San Francisco he could find something he could afford to buy with cash.

He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.

Without a Loan, he knew he couldn’t afford to build a conventional home. He’d always loved tiny houses, but the permitting office wasn’t as enthusiastic about allowing him to build small. So he had plans drawn up for a conventionally-sized home, plus a 400 square foot garage. He just built the garage.

Once the inspectors signed off on his fully-equipped garage (which included a bathroom, utility sink, electricity, septic system and rainwater capture), he let them know he wasn’t planning on building the house. Then he set about swapping the garage door for sliding glass and the utility sink for a regular kitchen.

Instead of relying on a loan to buy a house up-front, he had to do it the slow way, in stops and starts as he worked to pay off he step of the process. First, he saved up for a foundation, then the shell, then septic, etcetera and today, 13 years later, the home is complete.

Original story & more info: http://faircompanies.com/videos/view/Mortgage-free-tiny-home-on-a-housekeepers-salary/

Duration : 0:10:41

Mortgage-free, tiny home on a housekeeper’s salary

admin — Thu, 17 May 2012 23:39:14 +0000

He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.

Without a loan, he knew he couldn’t afford to build a conventional home. He’d always loved tiny houses, but the permitting office wasn’t as enthusiastic about allowing him to build small. So he had plans drawn up for a conventionally-sized home, plus a 400 square foot garage. He just built the garage.

Instead of relying on a Loan to buy a house up-front, he had to do it the slow way, in stops and starts as he worked to pay off he step of the process. First, he saved up for a foundation, then the shell, then septic, etcetera and today, 13 years later, the home is complete.

Original story & more info: http://faircompanies.com/videos/view/Mortgage-free-tiny-home-on-a-housekeepers-salary/

Duration : 0:10:41

Is a Mortgage co required to issue a monthly mortgage statement?

admin — Thu, 17 May 2012 01:06:17 +0000

I was in arreas on my mortgage until 06/2011. Now my mortgage Co refuses to issue a mortgage statement and will not correspond with me in writing. My Mortgage is current.

Can you access your account online? That is very common today. I think they are only obligated to provide a 1098 before January 31 showing how much you paid in interest. They often provide other details about your Loan regarding the balance, interest rate etc. etc. at that time.

Mortgage-free, tiny home on a housekeeper’s salary

admin — Thu, 17 May 2012 00:40:05 +0000

When he talked to bankers about qualifying for a home Loan, “they look at you and their eyes glaze over and you realize, they’re going to give me a lollipop and send me home, which is pretty much what happened”. So he decided that if he went far enough away from his hometown of San Francisco he could find something he could afford to buy with cash.

He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.

Original story & more info: http://faircompanies.com/videos/view/Mortgage-free-tiny-home-on-a-housekeepers-salary/

Duration : 0:10:41

Couple denied mortgage because of gas drilling

admin — Fri, 11 May 2012 11:20:05 +0000

Brian and Amy Smith seem to be the first example in western Pennsylvania of a homeowner being denied a Mortgage because of gas drilling on a next-door neighbor’s property.

Duration : 0:2:37

Standards For Home Mortgages And Business Loans Unchanged

admin — Sat, 05 May 2012 15:01:59 +0000

Consumers found it easier to get credit cards and auto Loans in the first quarter of 2012, but standards for home and business loans remained tight.

Duration : 0:3:19

Gareth Vaughan on TVone Breakfast talking about options for mortgage holders

admin — Tue, 01 May 2012 05:20:04 +0000

on Mortgage holders

Duration : 0:3:27

Mortgage-free, tiny home on a housekeeper’s salary

admin — Tue, 27 Mar 2012 17:00:10 +0000

He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.

Original story & more info: http://faircompanies.com/videos/view/Mortgage-free-tiny-home-on-a-housekeepers-salary/

Duration : 0:10:41

CBS This Morning – “Hidden” mortgage fee paying for payroll tax cut

admin — Mon, 13 Feb 2012 11:16:05 +0000

An exclusive CBS News investigation finds new home buyers left holding the bag for the two-month extension of the payroll tax cuts. CBS News investigative correspondent Sharyl Attkisson reports.

Duration : 0:5:21

Technorati Tags: back-door, cut, home, homebuyer, house, increase, Mortgage, payroll, tax

Obama: Mortgage Deal Turns Page on Reckless Era

admin — Sat, 11 Feb 2012 00:24:02 +0000

President Barack Obama says a $25 billion settlement between Mortgage lenders and states over foreclosure abuses “will begin to turn the page on an era of recklessness that has left so much damage in its wake.” (Feb. 9)

Duration : 0:1:50

Technorati Tags: obama_housing