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I am buying a twonhome in San Diego.  The dwelling is covered by HOA insurance and I am getting a policy for personal property/liability.  On my loan docs I signed today there is a $900 charge for Hazard insurance.  Is this insurance to cover the lender in case the house burns down or something? 

Thanks

Wanted to share this. I had recently posted on this forum about our excitemnt of getting our offer on a home accepted. Recent events about financing delays and meeting a certain deadline on the contract were about to throw us off guard and added to a frustration about the buying process. My wife and I even came to a plan to just drop the whole thing off (there is a way out of the contract without them getting my earnest money anyways) because of delays by the loan officer at US Bank in getting a fully approved loan to meet the certain deadline before I am to suppsoeldy lose my earnest money. 

Realtor calls me this Friday evening and suggests I call this person who is a broker. Call broker Friday night who gives me name of loan officer at Wells Fargo after broker asks how much money is in my savings account and asks what job do I do. Loan office calls me up Saturday evening and I tell him upfront that I need a fully approved loan ASAP but was not willing to put up with a lot of delays and vagueness about the process since we were ready to give up buying a house on the other hand. He tells me he is actually an underwriter and he proceeds to get info from me, later tells me he needs my old credit report (Dec 2009 pulled score) since I also told him I didn’t want my score pulled again. Meet him today Monday in his office as agreed and I lock in a rate of 5.25% (no orig fees, $500 underwriting fee, $400+ appraisal fee) fixed for 30 years…….the previous loan application (which is still in process) was at 5.75% 5/1 ARM (no orig fees). Both loans are no prepayment penalties. This person I meet today congratulates me, saying he can get it approved tomorrow or the next next day. Whew….

I guess things turn out good in a way you didn’t intend to happen, lol.

I have a couple of specific questions about income/household income for an FHA loan.  We are not in a community property state. 

I’ll preface by saying that I have done quite a bit of searching/reading on here, but am confused about income that is considered and what household income has to do with a loan if only one spouse is applying.

1. If DH and I decide to only apply under DH’s name, how is our household income calculated?  Is only his income considered?  Would my income ever be brought up/considered if I’m not on the loan?

2. I have seen mention on here about lenders calculating income that can be borrowoed against as the median of the past 2 years – is that true?  How does OT/bonus calculate into that?

3. How is our DTI ratio calculated? Is only DH’s debt counted?  Is my debt considered as well?  Is my income considered in the DTI ratio (if I’m not on the loan)? 

4. Also, can someone remind me again what debt is considered in DTI ratio?  Is it only revolving accounts (vehicle, CC, studen loan)?  Is DTI calculated by gross income

5.  What is the max DTI when including the mortgage payment/insurance?

Specifically, we’re looking at his gross income of $48k/year with $575 monthly debt (this does not count my bread-winner income or my debt).  Looking at homes in the $115 – $135,000 range.

Thanks in advance!

The CEO of Spanish telecom company Telefonica might soon try to obtain some money from Google and its rivals. Cesar Alierta said today that search engines’ popularity creates something of a burden for his organization, and that he’d …

The rest is here: 
Spanish Telecom May Seek To Charge Search Engines : How to Make …

The CEO of Spanish telecom company Telefonica might soon try to obtain some money from Google and its rivals. Cesar Alierta said today that search.

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Spanish Telecom May Seek To Charge Search Engines | Programming Blog

Have you noticed the common elements between the telecom industry of Pakistan and Bangladesh? Three of the top 4 telecom companies in Bangladesh are also doing business in Pakistan. Telenor is present in all of sub-continent. …

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Mobile Telecom Industry of Bangladesh. What's Common with Pakistan …

This is the introduction to a series addressing the two most often asked questions at the beginning of the mortgage loan process.

Yes it is.  It should work simply by plugging it in.

We would need to know your specific model, as there are different Aspire One models with different hard drives in them.  From what I’ve seen of them though, the solid state drives are not meant to be user replaceable(ie. there’s no slot for them), and those drives do tend to be a fair bit smaller than a regular 2.5″ laptop hard drive.

But give us your full model number and we’ll see if we can tell you for sure!