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Asked 09/14/2009 12:48 pm CT (Chicago, IL)

I was engaged to my husband in 2001. In August 2002 moved into a home. We both paid money at the closing. However my name was never put on the deed or the mortgage. We were married in August 2003. Since then the house has been refinanced 3 times because of my husband's credit card debt. The initial loan was for $109K and is now $192K. In 2007 when we refinanced I signed a homestead waiver, if for any reason he could not pay the mortgage I did not want to be held responsible for the mortgage. He is now in debt again and I am considering a divorce. Even though my name is not on the mortgage or deed and I signed a homestead waiver, do I lose all rights to the property.

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Asked 06/03/2009 05:10 pm CT (New Bedford, MA)

my wife purchased a home through a nonconventional loan prior to our marrige in 2007 basically the hight of the market, mortgage and deed both in her name only. Due to the economy we have gotten behind a bit on the mortgage which has caused her some credit issues, my credit is still good. We wanted to refiance but were told my name had to be listed on the deed before they could do this for us. We filed the paper work to list me 45 days ago and have just found out today they will not refinance with us because we have lost so much equity in the house, upside down almost 50,000. Being this far behind we are almost ready to just let it go or possibly try a short sale and start over again with something much smaller and more affordable. will i no longer qualify for an FHA loan in my name now because of the deed status, and also if this is the case is there a way to reverse it, kinda like a nullification period where it has only been 45 days since the addition of my name? any answer or advice is greatly appreciated, thank you

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Now that you are on title, you could potentially refinance under new programs that just came out whi...

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Asked 04/14/2009 06:27 pm CT (Cincinnati, OH)

I was seperated the past 5 yrs from my ex husband after 27 yrs of marriage we own a home which I stayed in after he left 5 yrs ago we finally divorced aug 08 i didnt think I could afford to keep it and he didnt want it then he gets a g/f 20 yrs his jr decides he wants the house during the divorce for her (of course). In the decree it states he was to refinance the home he has not thus far, I let him and her move in nov 08 i moved into an apartment. he borrowed 3000.00 towards paying me my half of the equity, he still owes me money and both our names remain on the mortgage and deed.he really doesnt want the house but i do and to boot I recently found out the g/f who is living in our home has a violent criminal record and has even been in prison she is very unstable I did not know about this or I would have never agreed for her to move into the house. he doesnt want to know and shes hounding him for her name to go on the deed which cant happen because there is no way my name comes off the deed while I am still on the mortgage. I am very concerned she may go "off the deep end" yet again and do something to the house as I said her criminal record shows she is clearly unstable she has thrown our daughter out of the home and moved her 13 yr old son in. Since he failed to refinance and the house remains in both our names he cant refinance as he waited too long and now is paying spousal support to me while Im in college. my 2 questions are what rights do i have to the house? and is it possible to evict this woman before she does irrevocable damage? he wont face this wont listen doesnt want to know if he chooses to live with a convicted violent felon thats his perogitive but I do not choose to have that living in a home I still own and am responsible for.I would much rather give him the 3000.00 back he has paid me and not take anymore payments from him and take back my house ..any advce?

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Asked 04/08/2009 11:16 am CT (Minneapolis, MN)

I need some help! I bought a condo in 06 with an ARM thinking I could refinace to a fixed rate to get a lower payment before it goes up again but Countrywide (who bought my loan) says since my apprasial is less than I paid for the condo there is nothing no one can do to help me and it is what it is. they did offer a modification of $4 a month for an ARM loan. I have a car payment/credit card payments and 2 jobs. Can anyone help me?

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My advice would be to contact Bank of America since they now own Countrywide. They may be able to d...

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Asked 12/29/2008 08:40 am CT (Reston, VA)

Hi, I need to find out is it possible to ask our mortgage lender to skip a month payment?. My husband were out of job and we ended moved to Virginia 2 years ago from Hawaii when he got a job here. We have a house in Hawaii. Tried to sell it but no luck. We survived paying our mortgage by renting it out. 3 months ago our house was vacant again and we were struggling to find a tenant. Finally we got one unfortunately they going to move at the end of the month which will put us no money left to pay mortgage for this month. My question is, is it possible if we ask the mortgage lender to skip a monht payment knowing the money will come in next month forward?. We never miss our payment so far. This is consider our only house since we are renting in Virginia now. Thank you so much.

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Norlidah, thank you for your question. First of let me explain a bit about your mortgage payment. Y...

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Asked 11/11/2008 01:18 pm CT (Waterloo, IA)

My husband and I are currently renting a two bedroom house, but 4 months ago we had our second child so we are now looking to BUY our first house. I have poor credit and my husband has no credit. We are current on all of our bills and my husband just got a new job 3 months ago. My husbands take home pay is about $3200.00-$4000.00 per month. I get paid an hourly wage, but also make commission which makes it so i can't prove my income but I bring home about $1200.00-$1600.00 per month. My husband did have a judgement against him because someone didn't pay a bill they were suppose to pay- but we are now paying it. We need to move to make room for our family.

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Asked 09/19/2008 12:08 pm CT (Sacramento, CA)

This one is bad ... at least for me. We have several mortgages on the house we're living in. The house was purchased on a 80/20 with zero down at the peak of the market for $670K. The first is $540K, the second is $130K. Shortly after that we got an equity line from Bank of America for $210K to start landscaping at what not. At that time the house appraised for nearly $900K. Being adjustable the payment went OUT OF SIGHT last November. I stupidly figured as a stop gap I could borrow against the HELOC to make the payment. Well the rest is history ... although the payment which adjusted first in November (OUT OF SIGHT) came back to more normality in May (the next adjust is November 08). Now the HELOC has been shut off by Bank of America (at about $180K) and we are $3K short per month. I think I'm out of options as I've been pulling a rabbit out the hat for months. What should I do?? I'm considering not paying Bank of America and second for a period to keep us a float. Calling them (various lenders) to see if they'll work some type of solution. Praying for salvation ... etc. In this mix I actually have another home which is not upside down. Which we are renting out (with a payment we can afford). I'm guessing the various lenders can't touch that home ... so we're considering evicting the tenants, stopping paying the others and moving back there. Any pointers or insights you could provide would be helpfull. I can't pull money from anywhere and am down to the point where we'd be Bankrupt if I made the next months payments (read broke). I also owe $11K in tax on the problem home. I didn't pay that to enable myself to meet the mortgage for a 3 extra months. Thanks in advance.

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Jim, tough situation. It's obvious you can't service the debt you have. It will be a stretch to...

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Asked 08/26/2008 01:18 pm CT (paducah, KY)

I filed Bankruptcy, and the mortgage company was supposed to foreclose on my house,my guess is because it had roof damage, ect. I got a letter saying that they charged it off and cancelled the sale. I know I can live in it and rent it out, but can't sell it until they release the deed. I don't want to put alot of money into it if they can come back again. How do I get them to release the deed? or can they come back after they charged it off? Homeless

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Asked 08/19/2008 03:29 pm CT (Jackson, MS)

My late husband bought a mobile home in 1998. I was not listed on the mortgage nor did I sign anything with regard to the purchase of this home. There was no land or any other type of collateral put up against this home. He died in 2004 and shortly after I moved from the mobile home. The mortgage company repossessed the home and sold it at auction. Now they want the estate of my deceased husband to pay the remaining balance (2 years after they sold it). My husband did not have a will. Can they hold me responsible for this money?

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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 07/09/2008 06:35 pm CT (Ragley, LA)

We ordered a new mobile home. The seller has changed the price on the home twice. Now the home is on our land and the seller is trying to change the price again. Can he do this? Our home also has water damage and mold due to the manufacturer not tightening our water lines in the house properly. Can we send the home back without hurting our credit or am I stuck with a 115,000 home full of damage that no one will come fix?To top it off the seller hired contractors to due the improvements for the land and went over the cost we agreed on in writing. My runners have cracked and the contractor won't fix it, but wants full payment.Now my wall is cracking due to the crack in the concrete. What are my rights?

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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 05/19/2008 10:29 am CT (Oxford, MS)

My wife and I have been deeded a property using "a special warranty deed subject to life estate". We would like to borrow against the property for improvements, however, we would prefer not to have the grandmorther sign docs as grantor because of age and mental wellness. The grandmother no longer lives in the house, and will not return to the house because of health issues. Does the deed superseed the Life Estate, and should we be able to borrow with out her signature? Thanks

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Asked 05/16/2008 07:24 pm CT (Spokane, WA)

My company is transferring me, and will purchase my current home if we can't sell it. Our credit score in in the 500's due to an illness that caused my husband to lose his job. We have two late mortgage payments from 8 months ago - which surprised me because I contacted the mortgage company and they agreed to those late payments before they were late. We also have several other late payments, one 5 months ago, but most are about 10 - 12 months and everything current since then. I have worked for this company for more than 15 years and my spouse recently was approved for disability payments which has helped. We have never had a judgement filed against us or filed bankruptcy, and all our accounts are current. I was sick to see my credit score so low. In this new strict housing market is there any chance that we might get a mortgage? We should get enough out of the sale of our current home to put 20% down. I am very worried about even being able to find a place that with rent to us with such a crummy credit score. Thanks, I appreciate your advice.

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If you can put 20% down then you should be able to get a loan. There are some programs that do not r...

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Asked 05/04/2008 10:57 am CT (Pembroke, Ontario)

I cosigned a mortgage 5 years ago and it is up for re signing. I no longer live there and want off of the mortgage. If I do not cosign again I am being told that the other party will have to sell because of bad credit. What happens to my half of the deed, and what if he can not sell for the balance of the mortgage. Am I responsible?

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Hi Jack. It will be impossible to sell the house for less than the balance outstanding. You and th...

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Asked 04/17/2008 02:01 am CT (Desert Hills, AZ)

Not married, allowed SO name to be placed on deed/loan against banks advice. SO has paid 0 against mtg. Is there any way to remove SO without a legal battle.

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What's an SO? In any case, you cannot remove someone from title w/out their consent. Change perspect...

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Asked 03/20/2008 08:36 am CT (Elkhart, IN)

My exhusband passed away in Feb. Prior to that he quitclaimed his house to me. (It is recorded at the county). His daughter from a prior relationship-there is question she is even his real daughter-came to me offering to claim the house so that I would not have to pay inheritance tax. I told her no, and am proceeding with filing the return. My question is, can she put a claim against the house?? If so, would she have to prove she is his daughter. There is also a vehicle she wants of his.

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Asked 03/19/2008 07:21 am CT (marine city, MI)

I'm in an adjustable rate mortgage at 5.25 due to adj. in may to 4.375 the fed just dropped interest rates again after i received a notice from my mortgage co. of the change will my rate adj. even more before may.

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ARMs adjust based on a index such as LIBOR or CMT plus a margin (index + margin). Find out which ind...

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Asked 03/18/2008 02:12 pm CT (milton, FL)

what is a deed in lue? does it go against your credit? are you held responsible for money owed on the house? are there any fees involved? if so, what kind and how much can they be?

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Deed In Lieu of Foreclosure - It essentially means that you voluntarily hand over the keys to the ho...

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Asked 03/18/2008 01:36 pm CT (Orlando, FL)

i refi'd last year and have taxes and insurance escrowed. I want to take over the paying the taxes and insurance and not use escrow. My lender told me i would have to refi to change it so i did not use an escrow account. Can mortgage escrow accounts be modified or not used without refi'ing again.

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