We financed a house,and asking for advise? 30 year mortgage $460.00 a month(house insurance included)?
Question by : We financed a house,and asking for advise? 30 year mortgage 0.00 a month(house insurance included)?
we financed a house through a finance company.Everytime we pay the note more money goes to the interest than it does the balence.Is this legal? Also we bought the house”as Is” and we discovered termite damage in the walls of the house,and was not told about it.what legal steps can we take?
Best answer:
Answer by Shopper
My very first mortgage payment only $ 10 went towards the principal.
Your principal does increase every month by just a little bit.
It’s the way mortgages work – most of the interest upfront.
You can only sue the previous owner if they knew of the damage and did not disclose it.
You will have to prove that the damage was obvious to them.
My parents got sued for not disclosing, but they clearly knew there was a problem and did not disclose it. They had to pay for all repairs.
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