Comments for Getloans.com http://www.getloans.com/blog Just another WordPress weblog Tue, 07 Feb 2012 00:17:28 +0000 hourly 1 http://wordpress.org/?v=3.1.2 Comment on Prepaying Your Mortgage Saves You Money, But How? by brianm http://www.getloans.com/blog/archives/2092/comment-page-1#comment-5105 brianm Tue, 07 Feb 2012 00:17:28 +0000 http://www.getloans.com/blog/?p=2092#comment-5105 No, the principal and interest (P&I) also do not change. All that happens is that the end date of the loan arrives faster, everything else stays status quo, including the breakdown of P&I. No, the principal and interest (P&I) also do not change. All that happens is that the end date of the loan arrives faster, everything else stays status quo, including the breakdown of P&I.

]]> Comment on Prepaying Your Mortgage Saves You Money, But How? by Colleen McGraw http://www.getloans.com/blog/archives/2092/comment-page-1#comment-5104 Colleen McGraw Mon, 06 Feb 2012 23:01:40 +0000 http://www.getloans.com/blog/?p=2092#comment-5104 I understand it doesn't change the total monthly payment but does it change how much principle vs interest is paid every month?? I understand it doesn't change the total monthly payment but does it change how much principle vs interest is paid every month??

]]> Comment on HO6 Insurance Policy??? by brianm http://www.getloans.com/blog/archives/464/comment-page-1#comment-5049 brianm Wed, 25 Jan 2012 03:22:23 +0000 http://www.getloans.com/blog/archives/464#comment-5049 I am glad you found the post helpful. I am in the same scenario on my own condo. I find the coverage excessive, but only slightly so. I did a major renovation on my place, and although I am probably covered in excess of what I need, it helps me sleep at night knowing I have no worries. My HO6 costs me about $400 annually, and maybe $50-$100 of it is not needed. But, I don't know for sure, labor can be very expensive, and as I said, it helps me sleep at night. You can make an adjustment after settlement, but think it through carefully. I am glad you found the post helpful. I am in the same scenario on my own condo. I find the coverage excessive, but only slightly so. I did a major renovation on my place, and although I am probably covered in excess of what I need, it helps me sleep at night knowing I have no worries. My HO6 costs me about $400 annually, and maybe $50-$100 of it is not needed. But, I don't know for sure, labor can be very expensive, and as I said, it helps me sleep at night. You can make an adjustment after settlement, but think it through carefully.

]]> Comment on HO6 Insurance Policy??? by kdk http://www.getloans.com/blog/archives/464/comment-page-1#comment-5047 kdk Wed, 25 Jan 2012 01:09:16 +0000 http://www.getloans.com/blog/archives/464#comment-5047 Brian - I am in the process of a refi and just found out about this requirement. This posting has been very helpful. We already have HO6 coverage, but are told it is not enough. The required $158,000 of building property insurance seems really high. There is only so much flooring, shelving, light fixtures, etc., that you can put into a 1,300 sq ft condo over and above what the original building plan provides. I spoke to our agent who says that this is the highest requirement they have seen. It would also increase our homeowners insurance by 33%. We still make up the increased cost of insurance with the lower interest rate, but it seems really unnecessary and will definitely try to reduce it after closing. Brian – I am in the process of a refi and just found out about this requirement. This posting has been very helpful. We already have HO6 coverage, but are told it is not enough. The required $158,000 of building property insurance seems really high. There is only so much flooring, shelving, light fixtures, etc., that you can put into a 1,300 sq ft condo over and above what the original building plan provides. I spoke to our agent who says that this is the highest requirement they have seen. It would also increase our homeowners insurance by 33%. We still make up the increased cost of insurance with the lower interest rate, but it seems really unnecessary and will definitely try to reduce it after closing.

]]> Comment on HO6 Insurance Policy??? by brianm http://www.getloans.com/blog/archives/464/comment-page-1#comment-5023 brianm Mon, 23 Jan 2012 22:56:03 +0000 http://www.getloans.com/blog/archives/464#comment-5023 Yes, but realize if there is a total loss, by fire for example, you will likely be exposed to some losses. Yes, but realize if there is a total loss, by fire for example, you will likely be exposed to some losses.

]]> Comment on HO6 Insurance Policy??? by Sal http://www.getloans.com/blog/archives/464/comment-page-1#comment-5022 Sal Mon, 23 Jan 2012 22:29:41 +0000 http://www.getloans.com/blog/archives/464#comment-5022 Hi Brian Thanks for getting back to me so fast. Yes I do realize but I have never had a claim in my life of any kind. I'm just the average Joe, going to my job back an forth so.... Never been in an accident or had any trouble. I think it's a waste of money on my part . Hi Brian

Thanks for getting back to me so fast. Yes I do realize but I have never had a claim in my life of any kind.
I'm just the average Joe, going to my job back an forth so…. Never been in an accident or had any trouble. I think it's a waste of money on my part .

]]> Comment on HO6 Insurance Policy??? by brianm http://www.getloans.com/blog/archives/464/comment-page-1#comment-5021 brianm Mon, 23 Jan 2012 22:23:41 +0000 http://www.getloans.com/blog/archives/464#comment-5021 Hello Sal, yes, I have had people get an HO6 policy to satisfy the lender, only to cancel it later. But realize you are likely leaving yourself under insured if you do so. Hello Sal, yes, I have had people get an HO6 policy to satisfy the lender, only to cancel it later. But realize you are likely leaving yourself under insured if you do so.

]]> Comment on HO6 Insurance Policy??? by Sal http://www.getloans.com/blog/archives/464/comment-page-1#comment-5020 Sal Mon, 23 Jan 2012 22:18:25 +0000 http://www.getloans.com/blog/archives/464#comment-5020 I was wondering if you can get the policy for one year until you have completed the loan and then forget about it, or even after you've signed the loan, cancel the policy. I don't need it, I'm forced to do it because of the new regulations. Can that be done ?? I was wondering if you can get the policy for one year until you have completed the loan and then forget about it, or even after you've signed the loan, cancel the policy. I don't need it, I'm forced to do it because of the new regulations.

Can that be done ??

]]> Comment on 2012 Predictions by brianm http://www.getloans.com/blog/archives/2060/comment-page-1#comment-4956 brianm Tue, 10 Jan 2012 22:22:09 +0000 http://www.getloans.com/blog/?p=2060#comment-4956 Aw come on now Carter, don't be a hater. Let me have my 1st amendment rights. Anyway, I did not say I endorse the current President. I am a bit of a Libertarian, I have not been a 100% fan of any President in a loooong time. I think there are big problems on both the left and the right. But you have to admit, the field of candidates the Republicans currently have are pretty weak. But as usual, whomever wins the nomination the Republicans will all get behind, and pretend he is the greatest thing since sliced bread, and this alleged great candidate may go down like John McCain did in 2008. Put another way, I think the current President is easily able to be defeated, but not by this current crop of Republican candidates. In my humble opinion.... Aw come on now Carter, don't be a hater. Let me have my 1st amendment rights. Anyway, I did not say I endorse the current President. I am a bit of a Libertarian, I have not been a 100% fan of any President in a loooong time. I think there are big problems on both the left and the right. But you have to admit, the field of candidates the Republicans currently have are pretty weak. But as usual, whomever wins the nomination the Republicans will all get behind, and pretend he is the greatest thing since sliced bread, and this alleged great candidate may go down like John McCain did in 2008. Put another way, I think the current President is easily able to be defeated, but not by this current crop of Republican candidates. In my humble opinion….

]]> Comment on 2012 Predictions by Carter http://www.getloans.com/blog/archives/2060/comment-page-1#comment-4955 Carter Tue, 10 Jan 2012 22:02:00 +0000 http://www.getloans.com/blog/?p=2060#comment-4955 Not so sure about your presidential-election prediction, stick with what you know. Not so sure about your presidential-election prediction, stick with what you know.

]]>