What is the average cost paid by someone in the secondary mortgage market to an existing mortgage?

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I am what the percentage is typical on an existing mortgage on the secondary market currently paid curious. Is it just a present value calculation of money, or is there a discount of more than premium? For example, you set a $ 300K% 30YR 6, which according to my calculations for the entire term of the loan, the lender $ 347,515 in which he would receive an interest income for lending money, usually when a contract It is sold as a right to those future payments they do not receive the full amount due calculation of value there, but there is no more or less a discount? So what is the rate or percentage of a conventional loan is sold on a secondary market in the early years? The banks accept lower offers to remove the credit now that they willingly provided balance principle of property in situations of short selling, etc. for banks that need money and seems to have most of their assets on loan and get rid of some cash back. The reason I ask, I know a personal lender, is probably would be willing to accept a mortgage for me that the same or a day course at the moment I have and I would like to have a high rate and safe interest payments instead of a bank, and instead of me refinance my current loan with a loan from the private person, I thought I might make an offer to the current holder of my knowledge, buy, I would like to avoid closing costs, etc. And maybe they give that person a good deal because the banks as willing to lend money to immediately liquidated substantial discounts on the needs of others, even if they know I’m hit by a big borrower, I think they are ready too, at least an order that the remaining shares or less and be happy with the interest they have received over the last 3 years, and enjoy real cash, there are so many banks to hurt other credit if I do not want the situation to my lender, they are a major bank / lender, so I am sure they have difficulties with some borrowers and the economy than any other. If someone works or personally held a loan and what kind of value loans on the secondary market at their principal balance and outcomes during the term of the loan I would be much appreciated cons. So if my stuff is not thought to try to answer gut.Als Ronwhiz a response to lower-risk loans, as it could be that the lender, the principal and the interest they collect. Borrower has great credit, fixed income and assets, and ready-to-benefit ratio is still only half because I paid half in cash for the house. I’m just looking for a general answer, as is usually a loan that are low risk, as is the case for about 90% of the present value of future revenues, that everything I try not a better idea which seems generic answer, obviously, like most things, this will be assessed on a case by case, I’m just looking for a normal reaction wreck, so please Ron (by example), you do not give me more advice, opinion or a summary of the topic that is Yahoo Answers, not a forum for your thoughts, so please contact if you please, answer this issue, but a response would not be in the form of a percentage or a set to be an opinion or idea.
How have changes to the Act in 1995 (Clinton administration) that affect this law? “The 1995 revision to support the significant increase in the amount of loans to small businesses and low-and middle-income borrowers for home loans. Part of the increase was in the second type of loan and credit without possibly because of increased efficiency in the secondary market for mortgages. The revisions allowed the securitization of subprime mortgages with CRA. The first securitization of CRA loans started public in 1997. “

6 Comments
  1. Reply
    ronwizfr
    January 24, 2011 at 12:21 am

    Much more important for banks is to know what the risk is that the person taking the loan will default and what part of the outstanding capital can be recuperated by foreclosing the house. That’s what the whole sub-prime crisis is about!

    So starting from your credit rating, the bank evaluates those risks which result in a premium on the risk free 30 year T-bond rate.

    To get an idea of the current market rates, try negotiating the refinancing of your loan, with a few banks, including your own. If you have a good credit rating and are will to pay back part of the principal so that the value of the mortgage is less than the actual market value of the house, they might be willing to do business.

  2. Reply
    Ed Atun
    January 24, 2011 at 12:45 am

    Traditionally, 1.75% was the most you could get and that was rare. For a short time during the boom, Merrill Lynch was paying 3.5% to originate a loan..

  3. Reply
    Jack Hoff
    January 24, 2011 at 12:49 am

    Correct me if I’m wrong but I believe the significance is an old, old wooden ship used by the pioneers in the Civil War Era.

  4. Reply
    Kristina
    January 24, 2011 at 1:16 am

    prohibits “redlining” which is banks only allowing credit to wealthy people. The point of the act was to help people establish credit during the recession of 77

  5. Reply
    phillipk_1959
    January 24, 2011 at 1:28 am

    Well, that explain most of the bad loans resulting in the current bank problems.

  6. Reply
    cbjack
    January 24, 2011 at 2:16 am

    The changes brought on the mortgage crisis. The original act was bad enough. Government cannot meddle without screwing things up. But Clinton really screwed the country by making the act much worse.

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