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Asked 08/22/2008 06:16 pm CT (Oxford, MA)

I have a loan I refinanced. The interest rate jumped from 6.875 to 7.875 on day of closing. My broker's name was 'HLFS' who recieved $4k. My loan package contained a lock doc saying 'First Horizon Home Loans' was a broker with 1.000 at 6.785. First Horizon was the lender. Three questions: Did First Horizon take a 'base' commission in addition to HLFS? Did HLFS get a YSP in addition to $4k? Is there a base commission at 1.000? AND ... Are there any HONEST brokers out there????????????????????????????? I need to refinance.

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Hi Jim, Do have copies of all of your paperwork? It is possible that First Horizon, charged you a ...

[ Total Answers: 1 ]

 
 

Asked 08/19/2008 08:20 am CT (Murfreesboro, TN)

On a regular 30 yr. fixed mortgage, at 6.75%, how does the lender come up with a payment of 900something (before taxes and ins.) on a $157K loan? I know I'm figuring it out wrong, but I would really like to know how it's done, so I can figure it out myself.

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Well, actually, I use a mortgage calculator. I can try to find a factor per thousand for you if you...

[ Total Answers: 1 ]

 
 

Asked 08/15/2008 07:41 am CT (pittsburgh, PA)

My husband and I are about to forclose on a house. The loan is in his name only, but I am on the deed. How will my credit be affected. We are getting a divorce & I will need to find a new home

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If you're not liable for the note this loan is not part of your credit profile. The foreclosure sho...

[ Total Answers: 1 ]

 
 

Asked 07/31/2008 09:49 am CT (MINT HILL, NC)

I PURCHASED MY HOME 3 YEARS AGO FOR $235,000.00 CASH.IT IS NOW APPRAISED AT $280,000.00.WHEN I BOUGHT MY HOME I GOT A HOME EQUITY LOAN FOR $50,000.00.EARLY LAST YEAR I GOT ANOTHER EQUITY LOAN FOR $50,000.0O.I NOW HAVE A TOTAL LOAN OUT ON THE HOUSE FOR $100,000.00.I STILL HAVE OVER $175,000.00 IN EQUITY IN MY HOME.I NEED SOME CASH NOW BUT MT CRIDET SCORE IS 535 AND MY LENDER WILL NOT HELP ME DO TO MY SCORE BEING SO LOW.IS THERE ANY WERE I CAN GO FOR HELP?

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Asked 07/20/2008 07:46 pm CT (Ansonia, CT)

My husband and I are first time home buyers in search of someone who is willing to give us a chance. We have had problems in the past with bills ETC, but currently we have been very faithly in keeping all of our current bills paid on a timely manner. Combine we have a gross income of about $66,000 annually, and we have not been able to find some one who will assits us in purchasing our first home. My credit score right now is 560 and my husbands is about 570, my husband does have a judgement that was filed against him last year for about $3200 dollars that we have been making monthly payments of $100 dollars for the past 7 months on. We are only looking to be approved for a loan in the amount of $160,000. Please contact me and let me know if there is anything that you can do to assist us, I am even willing to apply on my own even if it means a lower mortgage approval.

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Asked 07/18/2008 05:33 pm CT (cadiz, KY)

If my and my husbands name is on a deed for a property with a mortgage on it, can we take out a second mortgage or an equity loan to build another home with just our names on the loan?

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Asked 07/14/2008 11:55 pm CT (Centennial, CO)

What does UFMIP mean when doing a mortgage loan? Thanks

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Acronym Definition UFMIP Upfront Mortgage Insurance Premium ...

[ Total Answers: 1 ]

 
 

Asked 07/14/2008 11:55 pm CT (Centennial, CO)

What does UFMIP mean when doing a mortgage loan? Thanks

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Acronym Definition UFMIP Upfront Mortgage Insurance Premium ...

[ Total Answers: 1 ]

 
 

Asked 07/10/2008 12:08 pm CT (Lawrence, KS)

Our house is appraised at $150,000. We owe $97,000 at 6% (30 year). The 5/1 ARM is up next October. We owe $25,000 as a HELOC and the remaining $25,000 as a home improvemnt loan from our bank. We would like to refinance the entire amount into a 30 year fixed rate. However, both Countrywide and our bank will not refinance unless we pay off the balance of the others loan. We have two cars paid off and less than $10,000 in unsecured debt. Our gaol is to get rid of the HELOC (which we never seem to make up ground on). Any suggestions?

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Asked 07/09/2008 04:59 pm CT (Huntington, WV)

I recently was approved for a VA home loan. When the paper work went to the underwritter I was required to write several letters. 1 explaining why I filed bankrupcy in 2002 2nd since I was retired What I was going to do to be sure I pay my bills on time/live within my means on a fixed income 3rd What I have learned from past derogatory credit history that will help me continue to make payments on time. Then they requested 3 months of bank statements on how I spent my money. According to the Veteran Admin website they should only hold bankrupcy against you if it is 2 years or less. My credit scores were in the 600's highist 658. They approved the intial loan application. But when the underwriter got it it was everyday want a letter treating me as a little kid. This company only does VA loans Can they do this? make you write letters, explain and prove how you spend your money?

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Asked 07/05/2008 03:55 pm CT (paterson, NJ)

If you sell your home and pay off your mortage do you have to pay off your home equity loan at that time. Or can you continue to make payments as usual

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When you sell your home, all mortgage liens will need to be paid at closing. The second loan was of...

[ Total Answers: 1 ]

 
 

Asked 07/01/2008 07:16 pm CT (Las Vegas, NV)

I have a house that is valued at $281,000.00 I owe a principal amount of $311,000.00 I am making interest only payments $2,141.00 The loan is schedule to readjust in 2012. Do you recommend continue making making the payments?

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Asked 06/30/2008 06:05 pm CT (louisville, KY)

If I wanted to purchase a new home that was worth 400k but got the seller to sell for 320k could I still get a loan for 400k to consolidate some other debts in the home loan.

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Jason, Unfortunately I know of no lender that will allow you to roll in other debt into the mortg...

[ Total Answers: 1 ]

 
 

Asked 06/22/2008 09:10 am CT (Harrisburg, OR)

Is there any lender/broker that will fund a 100% home equity loan for a low FICO score of 534? Need to consolidate debt and do some work on it. Please help.

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Asked 06/20/2008 09:24 pm CT (phila, PA)

I LOAN A PERSON 15K(DID THIS IN A MORTGAGE) TO PURCHASE A PROPERTY THIS PERSON ALSO TOOK A LOAN OUT WITH THE BANK TO PURCHASE THIS SAME PROPERTY FROM THE SELLER. I RECORDED MY MORTGAGE BEFORE THE BANKS. THE COUNTY RECORDS SAY THAT I HAVE 1ST PRORITY, THE BANKS CLAIM THAT EVEN THOUGH IM LISTED AS 1ST SINCE THEY ARE A PURCHASE MONEY MORTGAGE THEY ARE 1ST. I SAID THAT IM A PURCHASE MONEY MORTGAGE TO. THE TITLE COMPANY SEND ME A SUBORDINATION AGREEMENT WANTING TO PAY ME $1000 IF I SIGN, IF I DON'T THEY SAID THEY WILL GO INTO LITIGATION. IM LOCATED IN PHILADELPHIA PA.

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Asked 06/12/2008 01:53 pm CT (Ocala, FL)

My husband has a home purchased with his deceased wife that was done thru the SHIP program. We want to buy another home but are having a hard time selling the one he has thru SHIP and we can't buy another house without showing this one as rental property, which is a no no for SHIP. Is it possible to refinance the balance of the money owed to SHIP, along w/ the balance of the home loan to get away from SHIP?

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Phone number is 484-224-2985

[ Total Answers: 2 ]

 
 

Asked 06/11/2008 12:35 am CT (Saint Louis, MO)

me and my wife are first time home buyers and we are trying to get a loan.. but this is the problem i\'ve been on my job for 3 years and my credit is getting worked on but it\'s not that good.... but my wife however has perfect credit but no job....what do we do..

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Dre, your finances may well support loan approval just fine...but you need to discuss your situation...

[ Total Answers: 1 ]

 
 

Asked 06/04/2008 09:00 pm CT (brownwood, TX)

my wife and i are going thru a divorce.we have a va loan that i used back in 1997. she wants the house.i dont.she has bad credit as i do to.she wont be able to get a loan on her own.i dont think she can afford to keep the house up.i dont want a foreclosure on me.she is adamate about staying in it.what are my options?

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I would definitely agree with getting the judge to order the sale of the house. Too many times I've...

[ Total Answers: 2 ]

 
 

Asked 06/03/2008 07:30 pm CT (las vegas, NV)

I\'m in the Union. When a site is complete theres usaully 2 weeks between projects. If unemployment is claimed for that period, will that damage chances of getting a loan?

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For most states, the waiting period for unemployment is greater than 2 weeks, so their appears no be...

[ Total Answers: 1 ]

 
 

Asked 05/29/2008 12:27 pm CT (Monclova, OH)

I am in Chpt. 13 bankruptcy and have a home equity loan outside the plan. I ended up defaulting on it and it has been paid since there was PMI. Should I contact the company that paid it off and try to make arrangements to pay them?

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Consult an attorney before doing anything. Perhaps a move to pay back what has already been forgive...

[ Total Answers: 1 ]



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