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Ask Kate^TM is your opportunity to contact Kate, a mortgage insider, to ask whatever you want regarding mortgage financing.

I know mortgage lenders have been speaking a language that is different from the ordinary person on the street.

FHA, VA, PMI, DTI, FNMA, FHLMC, 1003, VOD - How many abbreviations can the mortgage industry create? I can understand why home owners and home buyers feel puzzled.

So, go ahead. Ask Kate your mortgage question, even if you are not sure exactly how to ask it. Every question is a good question.

View mortgage and real estate questions from other readers and solutions by Kate.

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Have Some Fun! View Questions, Comments And Answers

Enjoy the following questions and comments from other readers as well as my answers. Remember, you can ask a question too!

Lender Paid Mortgage Insurance Ask Kate: Lender Paid Mortgage Insurance (LPMI) - Did my lender disguise mortgage insurance by increasing my interest rate? Hi Kate, Back in 2003 I refinance ...

Mortgage Rate Locks Delayed Ask Kate: Mortgage rate locks delayed
Hi Kate. I have a contract on a home due to close September 30th. I am doing a USDA rural development loan....

Unlocking Mortgage Rate Locks Regarding unlocking mortgage rate locks: I locked a rate last month at 5.5 percent and my credit score is 775. I see rates are now 5.0 percent. I have ...

Lock Or Float Interest Rate Should I lock or float my interest rate? Hi Kate, I live in California and am supposed to close on a condo at the end of November that is being constructed....

Contact Kate Help For Homeowners Regarding: Contact Kate Help For Homeowners
Here is an email I received at Ask Kate from a Reader who echoes my goal of empowering homeowners to learn ...

Switch Mortgage Rate Lock or Not Switch Mortgage Rate Lock or Not
A Readers opinion about mortgage rate lock and what goes around, comes around! Kate, we completed our mortgage rate ...

Ask Kate Will Debt Raise Credit Scores Ask Kate: Ask Kate Will Debt Raise Credit Scores
To Owe or Not to Owe That is the Mortgage Question! How exactly does the credit score affect the possibility ...

Strategies For Credit Scores From Contact Kate Strategies For Credit Scores From Contact Kate
Kate, My husband's credit score vs. my credit score... this is my mortgage question. My husband has worked ...

Contact Kate - We Want To Buy Our First Home Contact Kate - We Want To Buy Our First Home
I just moved here from Australia and have married a US Citizen. I have mortgage questions for Ask Kate!...

FHA Appraisals Overcoming FHA Appraisals - Will it keep me from buying a foreclosure? Dear Kate, I am trying to buy a foreclosure and I need to use a FHA loan because ...

Mortgage Approval For PMI Ask Kate: Mortgage Approval For PMI - Will I be approved?
Dear Kate, I have been approved for a conventional loan, borrowing 95% and putting down 5%...

Mortgage Lock-Ins Ask Kate - Deposits For Mortgage Lock-Ins: If I cancel my mortgage application, is the lender required to refund my lock-in fees? We locked our mortgage ...

APR Explained Ask Kate: APR Explained - What is the difference between the locked mortgage rate and effective APR?
Hi Kate, I have a real estate sales contract due ...

FHA Streamline Loan Ask Kate: FHA Streamline Loan and Owner Occupancy Question
Kate, first, I love your page, thanks so much. Second, I own an FHA mortgage with my mother ...

What Is Mortgage Insurance Ask Kate: What is mortgage insurance and does it protect me?
Kate, I took out an FHA loan through a bank with the PMI included. I don't have to get ...

Truth in Lending Act Ask Kate: Truth in Lending Act and mortgage rate lock fee
Hello Kate, Do you know if there is a right of rescission under the Truth in Lending Act for ...

FHA End Loan Ask Kate: Who Needs an FHA End Loan?
We are looking to apply for an FHA end loan. Home cost is $225k, we have $80k but do not want to deplete our savings ...

Lowering Mortgage Payment Ask Kate: Lowering a Mortgage Payment
Hi Kate, We bought our home in 2007 with an MHFA (Massachusetts Housing Finance Agency) first-time homebuyers ...

FHA Mortgage Insurance Refund Regarding my FHA mortgage insurance refund : Hi Kate, I just refinanced my 2 year FHA home loan to an FHA stream line loan. Then I got a homeowner's fact ...

FHA Mortgage Limits Frustrated over FHA mortgage limits: Hi Kate, My wife and I are first time home buyers and were pre-approved for an FHA mortgage through a nationwide ...

Construction Loan Information Regarding construction loan information: Hi Kate, If you receive a construction loan and have several obstacles that you are facing when the loan matures ...

How Can Appraised Value Get Rid Of PMI How can appraised value get rid of PMI?: Kate, I purchased a home in 2008 for $210,114. There was an appraisal done on it near closing for $213,000....

Mortgage Rate Lock Avoiding Hidden Fees Regarding mortgage rate lock and avoiding hidden fees: My wife and I went to closing this past Friday. We received a Good Faith Estimate for 4.5% and ...

Locking In Mortgage Rates Bobbie writes about locking in mortgage rates:
Kate, We purchased our house last August and at that time it felt like the mortgage rates were all over ...

Get Mortgage Rate Lock In Writing Ask Kate: Why you must get a mortgage rate lock in writing
Kate, I applied for a mortgage refi on April 3rd. On April 11th, I was ok'd and given a ...

Rate Lock And Mortgage Refinance Problems Ask Kate: Rate lock and mortgage refinance problems
My wife and I recently locked in a interest rate over the phone, a 30 year fixed rate mortgage at ...

FHA Loan Guidelines For Condos Question about FHA loan guidelines for condos: Hi Kate, We're looking at a condo community, but have suddenly been told that we cannot use an FHA loan ...

Mortgage Loan Modifications Regarding mortgage loan modifications Hi Kate, it's me again. My question is What can I do? I have tried refinancing but there are so many foreclosures ...

Mortgage Insurance Companies Ask Kate about Mortgage Insurance Companies:
We got mortgage approval through our bank over 4 weeks ago, got the house inspected and appraised, and ...

Locking Mortgage Rates Regarding Locking Mortgage Rates:
Kate, I am in the process of refinancing my condo. When I locked in the interest rate, I was not told that I would ...

Lock Interest Rate Ask Kate: Lock Interest Rate
Should I lock my interest rate? My bank in Canada is suggesting a home mortgage that is a 5 in 1. I might have that backwards!...

Mortgage Rate Locks My mortgage professional says mortgage rate locks do not ensure that we will get the same rate as in our good faith estimate. Is this true? How do interest ...

FHA Streamline Refinance Questions Hi Kate, I talked over my FHA streamline refinance questions with my current mortgage lender. I owe $158,000 on my 30 year fixed rate mortgage at 6....

Mortgage Loan Modification Answers Mortgage Loan Modification Answers
Hi Kate, I have been looking into a mortgage loan modification and we are finding that there's a lot said by a lot ...

FHA Home Loan Appraisal Requirements FHA Home Loan Appraisal Requirements
Kate, We close on a house in a week and the FHA home loan lender tacked on $4600 for lender required repairs. We ...

Ask Kate About Mortgage Loan Modification Ask Kate About Mortgage Loan Modification
Can you clarify a couple of questions on mortgage loan modification? My hair dresser is upside down on her ...

Mortgage Stimulus and Mortgage Loan Modification Mortgage Stimulus and Mortgage Loan Modification
I have looked all over the internet to find out how this new mortgage stimulus will help me. I am ...

Timing Mortgage Rate Lock Ask Kate: Timing Mortgage Rate Lock
I am asking about the timing of a mortgage rate lock because I am set to close in about two weeks on a new home....

Mortgage Loan Modification For Subprime Regarding mortgage loan modification for subprime ...
Dear Kate, I am not late on any monthly house payments but can no longer afford them. My loan ...

Homeowner Needs Fixed 30 Year Mortgage Homeowner Needs Fixed 30 Year Mortgage
Hi Kate, I borrowed $412,000 with a negative amortization mortgage loan two years ago. I now owe $441.000. But ...

Reverse Home Mortgage Regarding Reverse Home Mortgage
Hi Kate, My husband got a reverse home mortgage two and a half years ago. He was 62 and I was 50. He passed away in ...

Mortgage Rate Refinancing Advice Regarding this mortgage rate and refinancing advice
Note from Kate: I enjoyed this refinancing advice from a Reader but I need a little clarification ...

Contact Kate VA Home Loan Contact Kate regarding a VA home loan
Hi Kate, I have two questions about a VA home loan. First, I took a VA loan nearly 20 years ago. I understand ...

Break Mortgage Rate Lock Or Not To break a mortgage rate lock or not...
Hi Kate, I'd like to say that to break a mortgage rate lock or for that matter, not breaking a lock is a tough ...

Upfront Mortgage Rate Lock Talk Regarding Upfront Mortgage Rate Lock Talk
Note from Kate: I like this view regarding mortgage rate lock, that is having an upfront talk at mortgage ...

Mortgage Rate Lock Ethics And Penalties Regarding mortgage rate lock ethics and penalties
Hi Kate, So, a homeowner locks in a mortgage rate lock with a broker just to find the rates plummeting ...

Refinancing And Mortgage Rate Lock Regarding refinancing and mortgage rate lock
Hi Kate. This is my opinion. In the case of breaking a mortgage rate lock while refinancing, even though ...

Lowest Mortgage Rate Lock Regarding the lowest mortgage rate lock
Hi Kate, If my mortgage broker got me an interest rate and then I found out that I could get a better mortgage ...

Reverse Home Mortgage Helped Grandma How a reverse home mortgage helped Grandma
Because of a reverse mortgage, my grandma enjoyed her later years. I would recommend a reverse mortgage ...

Family Trust And Mortgage Refinance Ask Kate: Family Trust And Mortgage Refinance
Kate, My property is in a family trust that my grandfather left me when he died in 2005. I back in 2005 ...

7 Tips For Highest Property Appraisals Ask Kate: 7 Tips For Highest Property Appraisals
Kate, I am soon to apply for a reverse mortgage and of course want my home to get the highest appraisal ...

Ask Kate Homeowner Foreclosure Question Ask Kate Homeowner Foreclosure Question And Answer
My sister and I own our house together. We each pay half of the mortgage. We are now one month behind ...

Letting Bank Foreclose Ask Kate: Letting The Bank Foreclose
We have been in our home for a little over four years. We are now looking to move but cannot continue to make payments ...

Looking For Credit Repair Secret Ask Kate: Looking For Credit Repair Secret
Kate, is there a credit repair secret to fixing bad credit? I have been trying to repair my credit for three ...

How Much Foreclosure Affects Credit Scores Ask Kate: How Much Foreclosure Affects Credit Scores
Kate, how much will foreclosure affect a credit score? I know more than one person facing foreclosure ...

Finance 20 Acres With Mobile Home Ask Kate: Finance 20 Acres With Mobile Home
Contact Kate about problems financing 20 acres with mobile home...I am looking to finance 20 acres with ...

Contact Kate For Strategies To Buying A First Home Contact Kate For Strategies To Buying A First Home
We're buying our first house and have mortgage questions for Ask Kate! We are preparing ourselves ...

Hi Kate, Should I lock in my FHA loan at 5.75%? My wife and I had figured on a lesser rate but do not want to get stuck with a mortgage rate even higher than that.

Ask Kate! How To Lock A Mortgage Rate - I am searching for a home and have not yet found one to put in an offer. I have seen rates go up and down lately.

What's Up With Appraisal Fees - Let's Ask Kate! - I recently purchased a beautiful condominium in Hawaii. As a first-time home buyer, I was not sure what to expect.

Ask Kate! Vacation Home Under-Appraised By Bank - We have been looking for a nice vacation home in New Hampshire. After a lot of searching we found a house that would be perfect.

Confused about FHA refinancing - Dear Kate, You say that FHA refinancing is a good thing because it requires very little equity in a home. I just checked with my lender who told me...