Ct Mortgage Rates Articles and Resources

Resolved Question: Why do conservatives think that the rich already pay higher/more taxes the the average person?

Source Connecticut Post Connecticut has residents with the 2nd highest incomes in the country and the #12 most expensive state with the highest income tax Yes CT is a blue state but thats because upstate CT is lower income family's. The Greenwich, Westport, New Cannon, Darien living people are ALL Republicans. How do I know? There mayors are all Republican Article: IRS: High earners not paying top rates About four-fith of Americans who earn more than $200,000 a year pay LESS than 25% in federal income taxe, and a small number avoid taxes all together, new Internal Revenue Service figures show. The IRS, in its annual analysis of high-income earners, said a record 4.1 million Americans earned more than $200,000 (yeah not you hicks at the Tea party's wasting your time trying to save Fox news workers, which make loads of money, from paying there taxes you little poor conservative puppets) in 2006. About 79% of them paid less than 25% in taxes, while the rest paid more than that. About 3.2% paid more than 30%, while about 0.27% ,or 11,014 people took enough deductions to avoid any liability. (a.k.a the people who can afford really good Accountants. ) President Obama is pushing to increase the top marginal tax rates for people earning more than $200,000 to 36% and limit certain deductions, such as mortgage interest and charitable donations.i meant most expensive state not 12th. And it does factor in to the point. This is not an article from the Arkansas weeklyALEX. UNTILL PEOPLE IN AN AREA WHERE IT COST ALOT OF MONEY START RALLYING THEN IT IS SIGNIFICANT, NOT PEOPLE WHO LIVE IN $100,000 HOUSES WITH A 1992 CRAP PICK-UP AND THEY PAINT FENCES OR RAKE COW SH!T more

Resolved Question: Should I re-finance my townhouse? The appraisal came in below my principal balance.?

We bought a townhouse in 2006 for $220,000 in Middletown, CT and financed $180,000 at 5.875% for 30 years. Last month I decided to explore refinancing options and locked in a rate of 5% (which includes 1 point) with the current mortgage holder. Closing costs, including the point, would have been around $3,700, which we planned on rolling into the principal balance. The new mortgage payment would have offset the mortgage costs in about 2.5 years. However, the appraisal came in at $168,000…$2,700 less than what our current principal balance on the loan is ($170,700). That means we'd not only NOT be able to roll the closing costs in ($3,700), but we’d also have to come up with the difference between the appraisal and principal balance ($2,700), meaning it would cost us, in cash, around $6,400 at closing. While this refinancing would save us $133/mo on our mortgage payment, the closing costs wouldn’t be recouped for 4 years - as opposed to the original 2.5. In August, we will be 3 years into a 6-year ARM that is currently at 5.875%. We are planning/hoping to be out of the house before it expires, but I don't want to risk a big rate hike if we don't move before then. more

Resolved Question: Should we apply for a mortgage loan using one spouse's credit score and income?

I live in CT and would like to purchase a house soon since it's the market for buyer but I only work part time since I'm attending school. I do have good credit though, in the 700 ranges. about 1400 credit cards bills left to pay off. I don't know if this is great enough to qualify us for a good rate. My husband has great credit and his income is not bad, but he's not make six figures. Please help, what is the best step to take on this? Thanks in advance. more

Resolved Question: Did the 101st Congress and the reform of the CRA of 77' create the financial crisis?

While researching a "fact check" that blamed the Democrat party for the financial crisis (CRA), I stumbled across the following. The FIRREA Act was created and passed by the 101st Congress that reformed the CRAct of 1977 and opened the door to advocacy groups etc. that were involved with community organizations for low-income housing. This put extensive pressure on banks to lend to sub-prime borrowers, beyond the normal standard lending practices. Result: fixed rate 30 year sub-prime loans led the charge into catastrophic consequences? I almost stopped, but decided to read on... What I found out about the 101st congress. Senate 55 Dems, 45 Reps. House, 60% Dems, 40% Reps. - Fact. Great, should be this again in a few days. Now this is where I began to wake up. The problem? Banks are regulated and must meet its "Capital Requirements" or Tier 1 reserve ratio. With the FIRREA Act behind these advocacy groups and pols, banks had to become motivated to get around the capital requirements due to the political pressue of not assisting low-income housing. I witnessed these protests outside banks during the 90's & 00's, and thought it was about time banks helped out. Answer: "SPV's" a loophole in the regulations, which allows banks to keep these debt burden loans off their balance sheets, which allowed them to meet their capital requirements! Cause: FIRREA Act, advocacy group, and pols , used low-income housing as leverage to motivate banks. Starting to make some sense. At this point, we've experienced only the level of regulation and "assisting low-income housing" to motivate banks to find a loophole. Now that SPV's have been created, I agree that regulation had failed or SPV's could not be created. At this point, mortgages are repackaged at Fannie Mae and Freddie Mac. What is interesting here is this fact, banks from MA (Frank), CT (Dodd), and Ill (Johnson) had larger investments in F&F than any other states in the US (NC might be there too, not sure). Interesting and concerning? Correlation seems very high here with the leaders of the bailout? MBA securities now have made their way into the de-regulated phase, into the markets. Now I had to ask a more important question, aren't these securites being traded based upon the understanding they made it through the regulation process? What do you think? I was all for Obama, but this research really has me troubled and most of the reasons that I read start at the markets, not this FIRREA Act. more

Resolved Question: The 101st congress created the FIRREA act that reformed the CRA of 77', ground zero to this mess. Agree?

While researching a "fact check" that blamed the Democrat party for the financial crisis (CRA), I stumbled across the following. The FIRREA Act was created and passed by the 101st Congress that reformed the CRAct of 1977 and opened the door to advocacy groups etc. that were involved with community organizations for low-income housing. This put extensive pressure on banks to lend to sub-prime borrowers, beyond the normal standard lending practices. Result: fixed rate 30 year sub-prime loans led the charge into catastrophic consequences? I almost stopped, but decided to read on... What I found out about the 101st congress. Senate 55 Dems, 45 Reps. House, 60% Dems, 40% Reps. - Fact. Great, should be this again in a few days. Now this is where I began to wake up. The problem? Banks are regulated and must meet its "Capital Requirements" or Tier 1 reserve ratio. With the FIRREA Act behind these advocacy groups and pols, banks had to become motivated to get around the capital requirements due to the political pressue of not assisting low-income housing. I witnessed these protests outside banks during the 90's & 00's, and thought it was about time banks helped out. Answer: "SPV's" a loophole in the regulations, which allows banks to keep these debt burden loans off their balance sheets, which allowed them to meet their capital requirements! Cause: FIRREA Act, advocacy group, and pols , used low-income housing as leverage to motivate banks. Starting to make some sense. At this point, we've experienced only the level of regulation and "assisting low-income housing" to motivate banks to find a loophole. Now that SPV's have been created, I agree that regulation had failed or SPV's could not be created. At this point, mortgages are repackaged at Fannie Mae and Freddie Mac. What is interesting here is this fact, banks from MA (Frank), CT (Dodd), and Ill (Johnson) had larger investments in F&F than any other states in the US (NC might be there too, not sure). Interesting and concerning? Correlation seems very high here with the leaders of the bailout? MBA securities now have made their way into the de-regulated phase, into the markets. Now I had to ask a more important question, aren't these securites being traded based upon the understanding they made it through the regulation process? What do you think? I was all for Obama, but this research really has me troubled and most of the reasons that I read start at the markets, not this FIRREA Act. more

Resolved Question: The 101st congress created the FIRREA act that reformed the CRA of 77', ground zero to this mess. Agree?

While researching a "fact check" that blamed the Democrat party for the financial crisis (CRA), I stumbled across the following. The FIRREA Act was created and passed by the 101st Congress that reformed the CRAct of 1977 and opened the door to advocacy groups etc. that were involved with community organizations for low-income housing. This put extensive pressure on banks to lend to sub-prime borrowers, beyond the normal standard lending practices. Result: fixed rate 30 year sub-prime loans led the charge into catastrophic consequences? I almost stopped, but decided to read on... What I found out about the 101st congress. Senate 55 Dems, 45 Reps. House, 60% Dems, 40% Reps. - Fact. Great, should be this again in a few days. Now this is where I began to wake up. The problem? Banks are regulated and must meet its "Capital Requirements" or Tier 1 reserve ratio. With the FIRREA Act behind these advocacy groups and pols, banks had to become motivated to get around the capital requirements due to the political pressue of not assisting low-income housing. I witnessed these protests outside banks during the 90's & 00's, and thought it was about time banks helped out. Answer: "SPV's" a loophole in the regulations, which allows banks to keep these debt burden loans off their balance sheets, which allowed them to meet their capital requirements! Cause: FIRREA Act, advocacy group, and pols , used low-income housing as leverage to motivate banks. Starting to make some sense. At this point, we've experienced only the level of regulation and "assisting low-income housing" to motivate banks to find a loophole. Now that SPV's have been created, I agree that regulation had failed or SPV's could not be created. At this point, mortgages are repackaged at Fannie Mae and Freddie Mac. What is interesting here is this fact, banks from MA (Frank), CT (Dodd), and Ill (Johnson) had larger investments in F&F than any other states in the US (NC might be there too, not sure). Interesting and concerning? Correlation seems very high here with the leaders of the bailout? MBA securities now have made their way into the de-regulated phase, into the markets. Now I had to ask a more important question, aren't these securites being traded based upon the understanding they made it through the regulation process? What do you think? I was all for Obama, but this research really has me troubled and most of the reasons that I read start at the markets, not this FIRREA Act. more

Resolved Question: Should we apply for a home mortgage?

My boyfriend and I want to move out of our parents homes and get our own place. We would like to buy a home rather than rent, but if renting is our only option we could go that route. We are not married yet and we both work. My boyfriend just got discharged from ch 7 bankruptcy a few days ago. His credit score is around 570 and mine is perfect credit just starting 3 years ago. My boyfriend is working full time now along with going to night school. He is taking out financial aid for school this fall. He will be going part time for the next 2 years. I will be done with school soon with no loans and will work part time during my last semester. I don't know if you need anymore information, but I am just wondering if we would get approved for a mortgage as a first time home buyer in CT? What kind of interest rate would we get? We only have 10K for a down payment and would be interested in a interest only loan. more

Resolved Question: with my mortgage payment going up and i cant afford it,what should i do,i dont want to sell my home?

i have a ajustable rate that i was promised i could refi within 2 years,now my mortgage company will not service any loans in ct. i am behind on alot of bills, my income is less than last year,i work on commission basis.should i start paying what i can afford on my mortgage? i have three children and i am a divorced parent doing the best i can. my credit is not that great more

Resolved Question: with my mortgage payment going up and i cant afford it,what should i do,i dont want to sell my home?

i have a ajustable rate that i was promised i could refi within 2 years,now my mortgage company will not service any loans in ct. i am behind on alot of bills, my income is less than last year,i work on commission basis.should i start paying what i can afford on my mortgage? i have three children and i am a divorced parent doing the best i can. my credit is not that great more