Ask Kate - Contact Kate Today

Ask Kate 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 and 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 questions by other readers and answers by Kate.

Ask me a question. Add a comment.

Enjoy the following questions and comments from other readers as well as my answers. You can also have some fun. Add a comment and rate them too!

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 
Here is an email I received at Contact Kate from a Reader who echoes my goal of empowering homeowners to learn how to get their best mortgage rate....

Switch Mortgage Rate Lock or Not 
We completed our mortgage rate lock late last week with our mortgage broker. In fact we would not have been aware that refinancing would be a good option ...

Letting 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 and move. We're not sure that our ...

Mortgage Rate Lock Avoiding Hidden Fees  Not rated yet
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  Not rated yet
Bobbie writes about locking in mortgage rates: We purchased our house last August and at that time it felt like the mortgage rates were all over the ...

Get Mortgage Rate Lock In Writing  Not rated yet
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 of 4.5%...

Rate Lock And Mortgage Refinance Problems  Not rated yet
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 4.875% with ...

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

Mortgage Loan Modifications  Not rated yet
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  Not rated yet
I have a question about mortgage insurance companies . We got mortgage approval through our bank over 4 weeks ago, got the house inspected and appraised,...

Locking Mortgage Rates  Not rated yet
In regards to locking mortgage rates , I am in the process of refinancing my condo. When I locked in the interest rate, I was not told that I would have ...

Lock Interest Rate  Not rated yet
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! Essentially you lock ...

Mortgage Rate Locks  Not rated yet
My mortgage professional said 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 Refinancing  Not rated yet
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 FHA changed ...

FHA Streamline Refinance Questions  Not rated yet
Today, I talked about a FHA streamline refinance with my current mortgage lender. I owe $158,000 on my 30 year fixed rate mortgage at 6.75%. My monthly ...

Mortgage Loan Modification Answers  Not rated yet
Hi Kate, I have been looking into a mortgage loan modification and we are finding that there's a lot said by a lot of different people. It's really hard ...

FHA Home Loan Appraisal Requirements  Not rated yet
We close on a house in a week and the FHA home loan lender tacked on $4600 for lender required repairs. We had the appraisal done but now the lender ...

Ask Kate About Mortgage Loan Modification  Not rated yet
Here's a question for Ask Kate ... Can you clarify a couple of questions on mortgage loan modification ? My hair dresser is upside down on her mortgage ...

Mortgage Stimulus and Mortgage Loan Modification  Not rated yet
I have looked all over the internet to find out how this new mortgage stimulus will help me. I am a 49 year old, unemployed woman and need assistance ...

Timing Mortgage Rate Lock   Not rated yet
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. I was wondering if you think the new ...

Mortgage Loan Modification For Subprime  Not rated yet
Question for Kate regarding mortgage loan modification ... I am not late on any monthly house payments but can no longer afford them. My loan is an all ...

Homeowner Needs Fixed 30 Year Mortgage  Not rated yet
Hi Kate, I borrowed $412,000 with a negative amortization mortgage loan two years ago. I now owe $441.000. But my home is only worth about $289.000. I ...

Reverse Home Mortgage  Not rated yet
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 2008. I am still living in our home ...

Mortgage Rate Refinancing Advice  Not rated yet
I enjoyed this refinancing advice but I need a little clarification with terms. Can anyone help? Read what our refinancing homeowner advises and see ...

Contact Kate VA Home Loan  Not rated yet
Hi Kate, I have two questions for Contact Kate about a VA home loan . First, I took a VA loan nearly 20 years ago. I understand that I can still get ...

Break Mortgage Rate Lock Or Not  Not rated yet
To break a mortgage rate lock or not? Wow that is a tough one considering the present market conditions. Many home buyers are leery of mortgage lenders ...

Upfront Mortgage Rate Lock Talk  Not rated yet
I like this view regarding mortgage rate lock - having an upfront talk at mortgage application See what you think... If I found that it would definitely ...

Mortgage Rate Lock Ethics And Penalties  Not rated yet
So, you locked in a mortgage rate lock with a broker just to find the rates plummeting afterward. You know that if you switch lenders your broker will ...

Refinancing And Mortgage Rate Lock  Not rated yet
In the case of breaking a mortgage rate lock while refinancing, even though it might penalize the broker, I would say yes. It may not be the most ethical ...

Lowest Mortgage Rate Lock   Not rated yet
Kate, If my mortgage broker got me an interest rate and then I found out that I could get a better mortgage rate lock elsewhere I would definitely switch....

Reverse Home Mortgage Helped Grandma  Not rated yet
Reverse home mortgage helped my grandma enjoy her later years. I would recommend a reverse mortgage to any elderly person who outright owns their home....

Family Trust And Mortgage Refinance  Not rated yet
Kate, My property is in a family trust that my grandfather left me when he died in 2005. I back in 2005 took out an equity line of credit to upgrade the ...

7 Tips For Highest Property Appraisals  Not rated yet
Kate, I am soon to apply for a reverse mortgage and of course want my home to get the highest appraisal possible. Is there anything that a home owner can ...

Ask Kate Homeowner Foreclosure Question  Not rated yet
Foreclosure Question For Ask Kate: My sister and I own our house together. We each pay half of the mortgage. We are now one month behind for September ...

Looking For Credit Repair Secret  Not rated yet
Kate, is there a credit repair secret to fixing bad credit? I have been trying to repair my credit for three years now and would hate to see that it will ...

How Much Foreclosure Affects Credit Scores  Not rated yet
Kate, how much will foreclosure affect a credit score? I know more than one person facing foreclosure and they don't seem to be putting any effort into ...

Ask Kate Will Debt Raise Credit Scores  Not rated yet
To Owe or Not to Owe That is the Mortgage Question... How exactly does the credit score affect the possibility of getting a mortgage or loan? And what ...

Finance 20 Acres With Mobile Home  Not rated yet
Contact Kate about problems financing 20 acres with mobile home...I am looking to finance 20 acres with a mobile home on it. No one wants to loan on a ...

Contact Kate For Strategies To Buying A First Home   Not rated yet
We're buying our first house and have mortgage questions for Ask Kate! We are preparing ourselves because our credit score is OK (not great), we have some ...

Strategies For Credit Scores From Contact Kate  Not rated yet
My husband's credit score vs. my credit score...this is my mortgage question. My husband has worked really hard on getting his credit score up to par, but ...

Ask Kate!
How To Lock A Mortgage Rate  Not rated yet
My mortgage question...I am searching for a home and have not yet found one to put in an offer. I have seen the rates go up and down the last two months ...

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

Contact Kate - We Want To Buy Our First Home  Not rated yet
I just moved here from Australia and have married a US Citizen. I have mortgage questions for Ask Kate! With the current housing market, we are very interested ...

Ask Kate! Vacation Home Under-Appraised By Bank  Not rated yet
Mortgage question ...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 for ...

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